Both Chinese cobalt metal and salts prices trended lower at the midweek pricing session due to weak demand and an urgency among sellers to square books at the half-year end. Metal Bulletin's Chinese cobalt metal price narrowed to 540,000-550,000 yuan per tonne (approximately $31.99-32.59 per lb, China VAT-free) on Wednesday June 27 from 540,000-560,000 yuan per tonne on June 22. The Jinchuan...Read More
The Italian steel distribution network faces a shake-up from ArcelorMittal's efforts to meet its anti-trust obligations to acquire steelmaker Ilva.The European Commission (EC) EC has requested the "sale availability" of four ArcelorMittal CLN Distribuzione Italia (AM CLN) steel service centers (SSCs), Cesare Vigan??, the managing director of ArcelorMittal CLN Distribuzione Italia (AM CLN), said."T...Read More
Steelmakers around the world can improve their plant performance, safety and product quality by further digitizing their processes, delegates at the Asian Stainless Steel Forum 2018 heard on Thursday June 28.Mills could automate their electric-arc furnaces (EAFs) and converters, deploying smart sensors and collecting big data to improve processes, Zhai Yuyou, director of sales at technology provid...Read More
European steelmakers increased their hot-dipped galvanized coil (HDG) offers by ?,?20 ($23) per tonne this week, despite limited market activity, sources told Metal Bulletin.The price rise is expected to be supported by combination of effects from upcoming decision in an EC safeguarding case and the fact that steelmakers currently have good order books.The European Commission opened an invest...Read More
GFG Alliance is eyeing what it calls "higher value" steel long products rather than flat-rolled products for potential US acquisitions, a top executive told American Metal Market. The UK-based conglomerate, which fired up a Georgetown, South Carolina wire rod mill earlier this week, isn't ruling out acquisitions or restarts of flat-rolled mills, but is prioritizing steel long products for now, sai...Read More
Prices for imported wire rod into the United States have spiked dramatically, mainly as a result of the June 1 implementation of Section 232 tariffs against the previously exempt European Union, Canada and Mexico.American Metal Market's latest price assessment for wire rod imports jumped by 21.9% to $744-762 per short on Wednesday June 27, from $600-635 per ton previously.Import rod prices ha...Read More
Turkish domestic rebar prices have slipped over the past week due to weak demand while wire rod prices have risen, with two mills opening their local sales at higher prices, sources said.Metal Bulletin's weekly price assessment for domestic rebar was $550-565 per tonne ex-works on Thursday June 28, down from the $553-570 per tonne on June 21.The price fall reflects sluggish demand, caused by uncer...Read More
Turkish steel producers continued their deep-sea scrap purchases for August deliveries on Thursday June 28.A steel mill in northern Turkey booked a Canadian cargo, comprising 30,000 tonnes of shredded and 20,000 tonnes of HMS 1&2 (90:10) at an average price of $368 per tonne cfr.And a steel mill...Read More
Mainstream iron ore prices stayed rangebound on Thursday June 28 while high-grade lumps and fines were able to fetch higher premiums.Metal Bulletin 62% Fe Iron Ore Index: $64.44 per tonne cfr Qingdao, down $0.16 per tonneMetal Bulletin 58% Fe Premium Index: $52.02 per tonne cfr Qingdao, down $0.47 per tonneMetal Bulletin 65% Fe Iron Ore Index: $91.10 per tonne cfr Qingdao, up $0.50 per tonneMetal...Read More
China's ferrous futures fluctuated in a small range during morning trading on Thursday June 28. Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,738 yuan ($566) per tonne, down 10 yuan per tonne October hot-rolled coil: 3,873 yuan per tonne, down 3 yuan per...Read More
Prices for CIS export billet fell on Thursday June 28 due to slow trading in the country's key markets of Turkey and the wider Middle East, sources told Metal Bulletin.Metal Bulletin's CIS billet export index was $518 per tonne fob Black Sea on Thursday, compared with $520 per tonne fob Black Sea on June 27.CIS mill offers were predominantly around $520-525...Read More
China's domestic rebar market on Thursday June 28 recovered some of the losses from the past few days after futures spiked, though demand remained weak. Domestic Eastern China (Shanghai): 3,980-4,020 yuan ($603-609) per tonne, up 30 yuan per tonne Northern China (Beijing): 3,870-3,910 yuan per tonne, up 30 yuan per tonne Rebar futures started the day at relatively high levels having risen sharply...Read More
Flat steel production in Turkey is expected to remain strong in the rest of 2018 thanks to the strong demand locally and abroad, sources told Metal Bulletin this week.The country produced 5.17 million tonnes of slab - which is used to produce flat steel products - in the January-May period, up 7.12% from 4.83 million tonnes a year earlier, according to the Turkish Steel Producers Association (T???...Read More
European alloy steel surcharges for July deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the sixth consecutive month on an increase in nickel costs to reach their highest level since June 2011. The July alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,624-1,648 ($1,886-1,914) per tonne. Th...Read More
Steelmakers around the world can improve their plant performance, safety and product quality by further digitizing their processes, delegates at the Asian Stainless Steel Forum 2018 heard on Thursday June 28.Mills could automate their electric-arc furnaces (EAFs) and converters, deploying smart sensors and collecting big data to improve processes, Zhai Yuyou, director of sales at technology provid...Read More
East Asia's stainless steel prices held steady over the past week amid an illiquid spot market.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,240-2,300 per tonne cif East Asian ports for the week ended Wednesday June 27, unchanged from a week earlier.Metal Bulletin's assessment of prices for benchmark 304 stainless trimmed hot-rolled sheet was...Read More
The Italian steel distribution network faces a shake-up from ArcelorMittal's efforts to meet its anti-trust obligations to acquire steelmaker Ilva.The European Commission (EC) EC has requested the "sale availability" of four ArcelorMittal CLN Distribuzione Italia (AM CLN) steel service centers (SSCs), Cesare Vigan??, the managing director of ArcelorMittal CLN Distribuzione Italia (AM CLN), said."T...Read More
Flat steel production in Turkey is expected to remain strong in the rest of 2018 thanks to the strong demand locally and abroad, sources told Metal Bulletin this week.The country produced 5.17 million tonnes of slab - which is used to produce flat steel products - in the January-May period, up 7.12% from 4.83 million tonnes a year earlier, according to the Turkish Steel Producers Association (T???...Read More
CVG Venalum has halted at least one shipment to a United States-based customer while the company deals with allegations that its senior management was involved in a money-laundering and drug trafficking scheme using the plant as cover, a person familiar with the matter told Metal Bulletin. The Venezuelan state-owned firm was recently named in a US Department of the Treasury's Office of Foreign Ass...Read More
Turkish domestic rebar prices have slipped over the past week due to weak demand while wire rod prices have risen, with two mills opening their local sales at higher prices, sources said.Metal Bulletin's weekly price assessment for domestic rebar was $550-565 per tonne ex-works on Thursday June 28, down from the $553-570 per tonne on June 21.The price fall reflects sluggish demand, caused by uncer...Read More