Prices for coated steel coil products in Turkey were stable in the week ended Friday August 3 amid slow demand in the local and export markets, Metal Bulletin has heard.Domestic prices One producer in northern Turkey was offering 0.50mm hot-dipped galvanized coil (HDG) at $750 per tonne ex-works, while a second northern producer was offering the product at $770-780 per tonne ex-works. One southern...Read More
China's domestic hot-rolled coil prices rebounded on Friday August 3 as futures moved higher, while export prices edged lower in thin trading.DomesticEastern China (Shanghai): 4,300-4,310 yuan ($629-631) per tonne, up 20 yuan per tonneNorthern China (Tianjin)): 4,230-4,250 yuan per tonne, up 10-20 yuan per tonneSpot prices rebounded following gains in the futures market, with trading activity also...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Raw MaterialsThe rise in intra-grade price differentials in the iron ore market have led to the need for more granular pricing references for the steelmaking raw material.Seaborne prices for hard coking coal received support this week, with Chinese buyers generating some buzz in the spot market.Vietnam...Read More
Polish steelmakers have achieved a transaction price rise for rebar due to strong demand in the domestic market, sources told Metal Bulletin on Friday August 3.Metal Bulletin's price assessment for domestic 12mm B500B-grade rebar in Poland was 2,330-2,360 zloty ($634-642) per tonne ex-works on Friday, up from 2,250-2,300 zloty per tonne ex-works a week ago.The assessment reflected the latest trans...Read More
Turkish rebar and wire rod export prices remained largely stable over the week ended Thursday August 2, amid sluggish demand in the country's major export markets.Metal Bulletin's weekly price assessment for rebar exports out of Turkey was $535-540 per tonne fob on an actual weight basis on August 2, unchanged week on week.Offers to foreign customers were mainly heard...Read More
Global scrap prices continued to fall in the week ended Friday August 3 due to weak demand pushing prices down.The markets in Turkey, Taiwan and the United States were all suffering from poor demand this week. And although prices ticked up slightly in the Indian market, sentiment remained negative due to the low level of demand and the influence of the faltering Turkish market.Turkey importsThe Tu...Read More
Prices in the Brazilian export pig iron market have gone down on Friday August 3 after one deal was concluded at a lower price, Metal Bulletin has heard.A supplier from Southern Brazil sold 30,000 tonnes of pig iron to the United States at $375 per tonne fob at the beginning of the week.That was a reduction from the latest offer level, which was $380-385 per tonne fob a week before.Metal Bulletin'...Read More
The UK light iron scrap market has been flat this week, stabilizing after losses a week earlier, with market attention focused on the start of monthly delivery negotiations in the UK for settlements to domestic consumers.Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-120 ($118-157) per tonne on Friday August 3, unchanged from a week ago....Read More
The CIS export billet market was rather quiet over the week ending on Friday August 3, with buying activity muted and mills targeting higher offer prices.On the one hand, buying activity in the majority of outlets was sluggish due to myriad region-specific reasons, while on the other hand, CIS mills were targeting at least $500-505 per tonne fob Black Sea for the product because of reduced availab...Read More
Prices for steel billet in Turkey decreased over the week ended Thursday August 2 because there were no supporting factors in the market, Metal Bulletin has heard.Low demand for finished long steel in the country and in the major export markets was one of the reasons for the decrease in the country's billet prices."There is not much buying in the rebar segment, so Turkish mills decreased billet pr...Read More
Import prices for steel billet in Southeast Asia flatlined on Friday August 3, with seasonally soft demand and tight supply keeping offer and transaction levels steady. Metal Bulletin's daily price assessment for billet imports to Southeast Asia was $545-550 per tonne cfr Manila on Friday, the same as a day earlier.Filipino buyers were heard to have purchased 100mm billet from the Commonwealth of...Read More
Base prices for stainless steel flat and long products in Europe were stable on Friday August 3 in extremely quest trading conditions that are typical of the slower summer months. Metal Bulletin's weekly domestic base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern Europe was unchanged at ?,?1,000-1,050 ($1,162-1,220) per tonne delivered while the weekly asse...Read More
Indian mills are likely to cut their domestic prices for hot-rolled coil (HRC) by at least 500 rupees ($7) per tonne for August to boost demand and reduce inventories."We have not yet announced the price cut but a small correction of about 500 rupees per tonne is being considered for the current month," an official with a large mill told Metal Bulletin on Friday August 3.An authorized HRC distribu...Read More
Global scrap prices continued to fall in the week ended Friday August 3 due to weak demand pushing prices down.The markets in Turkey, Taiwan and the United States were all suffering from poor demand this week. And although prices ticked up slightly in the Indian market, sentiment remained negative due to the low level of demand and the influence of the faltering Turkish market.Turkey importsThe Tu...Read More
Prices in the Brazilian export pig iron market have gone down on Friday August 3 after one deal was concluded at a lower price, Metal Bulletin has heard.A supplier from Southern Brazil sold 30,000 tonnes of pig iron to the United States at $375 per tonne fob at the beginning of the week.That was a reduction from the latest offer level, which was $380-385 per tonne fob a week before.Metal Bulletin'...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Friday August 3. Base metals prices on the Shanghai Futures Exchange were mostly drifting lower during morning trading on Friday, with the complex coming under pressure from a combination of US-China trade tensions and a firmer dollar. Weakness was the dominant theme across the SHFE base metal...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metalsAn uptick in trading activity for the CME's European aluminium premium contracts during July indicates that market participants are eyeing a possible uptrend in aluminium premiums in Europe for the remainder of this year and into 2019.Labor unrest has spread throughout South America...Read More
The rise in intra-grade price differentials in the iron ore market have led to the need for more granular pricing references for the steelmaking raw material, according to market participants. Such differences were widely discussed during the Singapore Iron Ore Week earlier this year, when traders highlighted the need for a high-grade derivative to meet the evolving pricing requirements of the iro...Read More
Vietnam scrap import prices are set to be the next Asian scrap benchmark with import volumes continuing to rise in 2018 on a year-on-year basis.Demand for scrap is expected to remain firm due to the rapid growth of steelmaking capacity in the country supported by its fast-growing economy. Vietnam's gross domestic product is expected to grow 6.7% this year, largely stable in comparison with last ye...Read More