Stainless steel prices in North America are likely to be supported by the US Section 232 steel import tariffs while, in Asia, Chinese production cuts on environmental grounds could support prices in the third quarter.And in Europe, price stability is expected unless safeguarding measures are introduced by the European Commission, with a preliminary decision expected within the next week. Prices ar...Read More
Metal Bulletin started a weekly price assessment for stainless steel hot-rolled coil (HRC) on a $ per tonne cif East Asian ports basis on Wednesday July 11, while discontinuing its East Asian price for stainless steel hot-rolled sheet.After a consultation period, Metal Bulletin has launched a weekly price for Asia grade 304 stainless steel HRC imports into East Asia to better reflect trading...Read More
Prices for domestic hollow steel sections have been stable in Europe so far this week due to summer holidays across Europe causing a typical dip in demand, sources told Metal Bulletin on Wednesday July 11.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe was unchanged for a third week on July 11 at ?,?640-650 ($751-763) pe...Read More
Turkish pipe export prices have continued to weaken in July on poor demand in the major markets because of the Section 232 import tariff in the United States and an EU safeguard investigation, sources said on Wednesday July 11.Metal Bulletin's monthly export price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $620-630 per tonne fob on July 11, narrowing downward fr...Read More
Argentina's automotive production dropped by 13.40% year-on-year in June 2018, with the sector affected by a national strike and also by protests in neighboring Brazil, according to national automotive association Adefa.Production totaled 39,420 vehicles in June, compared with 45,496 units in the corresponding month last year, Adefa said last week. It was the first monthly decrease of this year in...Read More
Brazilian automotive production increased by 21.10% year on year in June, according to the latest figures released by national automobile association Anfavea. Output reached 256,300 units last month, compared with 211,600 units in June 2017, Anfavea said on Friday July 6. Sales to the domestic market reached 202,000 units, up by 3.60% from the 195,000 vehicles sold in June 2017. Exports declined b...Read More
The Turkish Steel Producers Association (TCUD) has warned that Turkey may become an open market for dumped steel imports unless swift action is taken by the government. Turkey's steel exports fell by 3.90% to 8.14 million tonnes in January-May 2018, while steel imports increased by 18% to 7.5 million tonnes, TCUD said on Wednesday, July 11. The main reason for the decline in Turkey's steel ex...Read More
Prices for rebar produced and delivered in Northern Europe narrowed upward by ?,?15 per tonne over the past week as supplies tightened amid summer maintenance shutdowns at mills, sources told Metal Bulletin on Wednesday July 11.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was ?,?550-560 ($645-657) per tonne delivered on Wednesday, up from ?,?535-560 per tonne...Read More
Italy's industry minister Luigi Di Maio is expecting to see a new proposal from ArcelorMittal about jobs and the environment at Italian steelmaker Ilva, he said at a meeting with trade unions and the steelmaker on July 9. ArcelorMittal originally expected to finalize the acquisition by the end of the second quarter, but in late June the Italian authorities postponed the takeover of Ilva by Arcelor...Read More
Stainless steel prices in North America are likely to be supported by the US Section 232 steel import tariffs while, in Asia, Chinese production cuts on environmental grounds could support prices in the third quarter.And in Europe, price stability is expected unless safeguarding measures are introduced by the European Commission, with a preliminary decision expected within the next week. Prices ar...Read More
Tin premiums in Europe have softened over the week to Tuesday July 10 after dwindling demand began to take root over the summer period, while premiums in the United States and China held steady on abundant supply and minimal spot activity. Supply flows unsettle European tin market Rotterdam 99.9% tin premiums soften as demand weakens China, US premiums flat Tin premiums fall again in...Read More
Lead prices on the London Metal Exchange fell over 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Lead prices on the London Metal Exchange fell by more than 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Fueled...Read More
CIS export billet prices continued to fall on Wednesday July 11 amid a lack of supporting factors, Metal Bulletin was told.Buying activity in most markets remained close to nil, with customers referring to weak domestic markets for finished long steel products, and consequently expecting import billet prices to drop further.Besides that, import scrap prices in Turkey moved downward again with book...Read More
The latest news and price moves to start the North American day on July 11.Base metals on the London Metal Exchange were plummeted during morning trading due to unsettled by trade tensions amid threats of further US-imposed tariffs against $200 billion worth of Chinese goods.Here is how base metals prices looked at 12:08pm London time:Read our live futures report here."The rout in base metals cont...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday July 11.Base metals prices on the Shanghai Futures Exchange fell sharply during Asian morning trading on Wednesday, with China-US trade tensions once again weighing on the market.Check Metal Bulletin's live futures report here.Global aluminium premiums were again under pressure from...Read More
Lead prices on the London Metal Exchange fell over 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Lead prices on the London Metal Exchange fell by more than 5% at the close of trading on Wednesday July 11, topping broad complex losses amid mounting pressure from the ongoing US-China trade spat. Fueled...Read More
Prices for seaborne Australian iron ore fines and lumps fell slightly on Wednesday July 11 while more details emerged over possible measures to cut emissions in China's steelmaking hub.Metal Bulletin 62% Fe Iron Ore Index: $63.34 per tonne cfr Qingdao, down $0.57 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.16 per tonne cfr Qingdao, down $0.66 per tonneMetal Bulletin 58% Fe Premiu...Read More
Seaborne coking coal prices continued to descend on Wednesday July 11 with sellers making more concessions in an attempt to speed up sales. "Chinese traders would rather reduce their offers for cargoes that are already on the water because it doesn't make sense to sell them once they have landed," a Chinese trading source said. Traders previously preferred to sell their cargoes only after they had...Read More
Turkish steel mills declined to make any bookings of deep-sea scrap cargo on Wednesday July 11 but the market widely expects them to purchase more material for August.The mills had returned to the deep-sea scrap markets, buying four cargoes on July 6 and Tuesday July 10 - they paid $343-348 per tonne cfr for USA-origin HMS 1&2 (80:20).More...Read More
Iranian export billet prices increased by $5-10 per tonne over the week ended Wednesday July 11 because the availability of material in the market tightened, Metal Bulletin has heard.One of the reasons for a reduced allocation of billet for exports was increased demand for the semi-finished product in the domestic market. This was not spurred by real consumption, however, but by a loss in the valu...Read More