Metal Bulletin reviews the major stories that have affected the steel market over the past week.Turkish scrap import prices recovered this week on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.The US import pig iron market imp...Read More
Domestic rebar prices in Poland remained largely unchanged over the past week despite slow trading, sources told Metal Bulletin on Friday June 15.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,230-2,300 zloty ($610-629) per tonne ex-works on June 15, compared with 2,220-2,300 zloty per tonne ex-works a week earlier.The assessment reflects the latest re...Read More
Italian special long steelmaker Ori Martin has acquired a majority share in compatriot steelmaker Ferrosider, it said on Friday June 15.Long steel producer Ferrosider, which like Ori Martin is also headquartered in Brescia, northern Italy, specializes in the production of flat, round and square merchant bars for customers in the mechanical engineering and carpentry industries.Ferrosider has a turn...Read More
Brazilian pig iron export prices remained unchanged this week, but rumors of shipments being booked at lower prices have started to be heard.Metal Bulletin's weekly price assessment on Friday June 15 for Minas Gerais-origin pig iron exports was $390-395 per tonne fob, while the assessment for Caraj??s-origin pig iron on the same day was $395-400 per tonne fob.Both prices were unchanged week-on-wee...Read More
UK domestic prices for austenitic alloy steel scrap decreased this week on slowing demand and a fall in the price of nickel toward the close of last week.On Friday June 15, the London Metal Exchange three-month official nickel bid/offer spread was $15,330/15,350 per tonne, up slightly from $15,300/15,305 per tonne on June 8. However, this was down from the June 7 price of $15,755/15,760 per tonne,...Read More
Turkish scrap import prices recovered in the week ended Friday June 15 on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.East Coast fob prices in the US were up due to the Turkish demand. Taiwan import prices rose similarly, wi...Read More
Slab export prices from Brazil have increased this week due to renewed demand from clients in the United States.Metal Bulletin's weekly assessment of Brazil slab export prices was $590-600 per tonne fob on Friday June 15, up from $580-590 per tonne last week.Several deals were reported within the range of $590-600 per tonne fob this week, with companies keeping their focus...Read More
China's domestic rebar prices were unchanged on Friday June 15 and trading activity was subdued as futures declined.Domestic Eastern China (Shanghai): 4,140-4,180 yuan ($647-653) per tonne, unchanged Northern China (Beijing): 3,950-3,980 yuan per tonne, unchanged Buyers cut procurement rates as futures kept their downward trend in early trading after Thursday night's losses. Traders maintained the...Read More
Key data from the pricing session in the week ending Friday June 15.China Chinese domestic ferro-chrome market strengthens further owing to tightened supply following a new round of environmental inspections in 2018. Higher prices reported for imported charge chrome this week, buoyed by fuel costs increase in winter of South Africa and supply disruptions during maintenance period...Read More
European base prices for flat and long stainless steel products were unchanged this week amid generally balanced and stable market conditions, sources told Metal Bulletin on Friday June 15.Demand is healthy, both domestically and for export, with one distributor noting particularly high interest from the UK and Eastern Europe, although buying from Turkey has slowed, possibly as a result of the wea...Read More
China's ferrous futures were mixed in the morning trading session on Friday June 15, with coke futures up, HRC futures down, and those of rebar, iron ore and coking coal largely flat. Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,877 yuan ($606) per tonne, down 2 yuan per tonne October hot-rolled coil: 3,954 yuan per tonne, down 13 yuan per tonne Dalian Commod...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Turkish scrap import prices recovered this week on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.The US import pig iron market imp...Read More
The number of new passenger car registrations in the European Union increased slightly by 0.83% year-on-year in May 2018.New car sales in Europe totalled 1,398,913 units in May this year, compared with 1,387,450 vehicles sold in the corresponding month of 2017, the...Read More
The US billet upcharge hit another all-time high this week, fueled mostly by issues with suppliers getting material to buyers on time, combined with the continued absence of UC Rusal from the US spot market. Other premiums throughout the globe remained generally steady.US billet premium rises on lessened 6063 availabilityThe US spot extrusion billet upcharge rose to a record high of 17-19 cents pe...Read More
China's metal processing and mining equipment sectors will be counting the cost of new tariffs announced on Friday June 15 by United States Trade Representative (USTR) Robert Lighthizer.They involve $50 billion worth of Chinese exports being hit by 25% duties, additional to duties already applied. They will cover China-made exports of a wide range of metal-making and mining machinery, and a s...Read More
Brazilian pig iron export prices remained unchanged this week, but rumors of shipments being booked at lower prices have started to be heard.Metal Bulletin's weekly price assessment on Friday June 15 for Minas Gerais-origin pig iron exports was $390-395 per tonne fob, while the assessment for Caraj??s-origin pig iron on the same day was $395-400 per tonne fob.Both prices were unchanged week-on-wee...Read More
UK domestic prices for austenitic alloy steel scrap decreased this week on slowing demand and a fall in the price of nickel toward the close of last week.On Friday June 15, the London Metal Exchange three-month official nickel bid/offer spread was $15,330/15,350 per tonne, up slightly from $15,300/15,305 per tonne on June 8. However, this was down from the June 7 price of $15,755/15,760 per tonne,...Read More
The latest metal news and price moves to start the North American day on Friday June 15.Base metals prices on the London Metal Exchange were mostly lower again during morning trading despite nickel recouping some of its losses.Here's how three-month LME base metals prices...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday June 15.Base metals prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Friday June 15, pressured by a strengthening US dollar.Check Metal Bulletin's live futures report here. LME snapshot at 03:23 London time Latest 3M LME Prices Price ($/t...Read More
The latest metal news and price moves to start the North American day on Friday June 15.Base metals prices on the London Metal Exchange were mostly lower again during morning trading despite nickel recouping some of its losses.Here's how three-month LME base metals prices...Read More