Demand for flat steel in Turkey will remain moderate throughout August, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday August 2.Local producers have filled their order books until the end of September, and are planning to increase their prices for October bookings, despite weak local demand.Stock levels are not high in...Read More
China's ferrous futures weakened further during morning trading on Thursday August 2.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 4,117 yuan ($604) per tonne, down 13 yuan per tonneOctober hot-rolled coil: 4,157 yuan per tonne, down 7 yuan per tonne Dalian Commodity Exchange September iron ore: 473 yuan per tonne, down 2 yuan per tonne September coking coal: 1,1...Read More
US domestic and imported rebar prices are steady this week, with the Section 232 tariffs - implemented on June 1 - effectively pricing imports out of the market. And despite concerns over supply tightness and transport issues, there is little indication that this will change in the near term, sources said.American Metal Market's assessment for domestic rebar held at $35-36 per hundredweight (...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarEgypt, domestic (El Garhy Steel), rebar, offered at...Read More
Steel billet import prices decreased slightly this week in Egypt with lower offers in the market, while domestic rebar prices were unchanged, sources told Metal Bulletin on Thursday August 2.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on August 2 was stable at E ?12,525-12,528 ($700) per tonne ex-works.The country's major rebar producer, Ezz Steel, is still offering the ma...Read More
The pig iron export market in the Commonwealth of Independent States has softened on falling scrap prices, sources told Metal Bulletin on Thursday August 2.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region went down to $380-390 per tonne fob Black Sea on Thursday, from $390-395 per tonne the week before."The scrap price has fallen dramatically in Turkey.No on...Read More
Turkish steel mills pulled back from the deep-sea scrap markets again on Thursday August 2, keeping prices relatively stable.Mills broke their silence in trading activity on Wednesday when a steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 12,500 tonnes of bonus and 2,500...Read More
The seaborne iron ore market remained inactive on Thursday August 2 with plenty of offers heard that did not culminate in transactions, with buyers exercising caution.Metal Bulletin 62% Fe Iron Ore Index: $66.87 per tonne cfr Qingdao, up by $0.32 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.08 per tonne cfr Qingdao, up by $0.32 per tonne.Metal Bulletin 58% Fe Premium Index: $54.4...Read More
Demand for flat steel in Turkey will remain moderate throughout August, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday August 2.Local producers have filled their order books until the end of September, and are planning to increase their prices for October bookings, despite weak local demand.Stock levels are not high in...Read More
Steel billet import prices decreased slightly this week in Egypt with lower offers in the market, while domestic rebar prices were unchanged, sources told Metal Bulletin on Thursday August 2.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on August 2 was stable at E ?12,525-12,528 ($700) per tonne ex-works.The country's major rebar producer, Ezz Steel, is still offering the ma...Read More
Import prices for steel billet in Southeast Asia remained firm on Thursday August 2 amid slow trading activity and muted demand.Metal Bulletin's daily price assessment for billet imports to Southeast Asia was $545-550 per tonne cfr Manila on Thursday, narrowing upward from $540-550 per tonne cfr a day earlier.The frequency of the assessment was increased from weekly to daily starting on Wednesday....Read More
In response to a "harsh business environment", five companies under major Japanese steelmaker Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group will integrate and reorganize their welded stainless steel pipe and tube businesses, the group announced on Thursday August 2.The change will take place around April 1, 2019, after Nisshin Steel Co., Ltd becomes a wholly-owned subsidiary of NSSMC. Ni...Read More
Molybdic oxide and ferro-molybdenum prices in Europe have strengthened to three-month peaks in trading so far this week, with tightness - and rising prices - in Asia prompting renewed demand in the West.Prices of both have steadily run higher in Europe since the start of July after they had dropped through June. And with higher offer prices already being reported in Europe against apparent tightne...Read More
Metal Bulletin has today discontinued its weekly assessment for 2mm grade 304 cold-rolled stainless sheet export fob Northern European ports.After a consultation period, Metal Bulletin has suspended its EU export price assessment for grade 304 stainless steel cold-rolled sheets. European exports of commodity-grade stainless steel products such as 2mm grade 304 cold rolled stainless sheet have fall...Read More
In response to a "harsh business environment", five companies under major Japanese steelmaker Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group will integrate and reorganize their welded stainless steel pipe and tube businesses, the group announced on Thursday August 2.The change will take place around April 1, 2019, after Nisshin Steel Co., Ltd becomes a wholly-owned subsidiary of NSSMC. Ni...Read More
Demand for flat steel in Turkey will remain moderate throughout August, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday August 2.Local producers have filled their order books until the end of September, and are planning to increase their prices for October bookings, despite weak local demand.Stock levels are not high in...Read More
Domestic long steel prices in EU markets are expected to remain around current high levels over the August holiday period, although mills could push through further price rises in September, market sources told Metal Bulletin this week."Customers are starting to go on holiday. We haven't heard new inquiries but we expect the [rebar] price to be maintained, and then perhaps to rise in September," a...Read More
In response to a "harsh business environment", five companies under major Japanese steelmaker Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group will integrate and reorganize their welded stainless steel pipe and tube businesses, the group announced on Thursday August 2.The change will take place around April 1, 2019, after Nisshin Steel Co., Ltd becomes a wholly-owned subsidiary of NSSMC. Ni...Read More
The pig iron export market in the Commonwealth of Independent States has softened on falling scrap prices, sources told Metal Bulletin on Thursday August 2.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region went down to $380-390 per tonne fob Black Sea on Thursday, from $390-395 per tonne the week before."The scrap price has fallen dramatically in Turkey.No on...Read More
Base metals on the London Metal Exchange finished mostly lower at the close of trading on Thursday August 2, pressured by the re-emergence of trade tensions between the United States and China in addition to a seasonal slowdown over the summer period.Falling 2% over the afternoon, nickel prices continue to track lower on macroeconomic factors, while declining stocks, robust demand and a large cont...Read More