The UK light iron scrap market was stable over the past week for the ninth week in a row amid mixed reports of monthly delivery settlements to consumers in June, industry sources told Metal Bulletin on Friday June 8.The inter-merchant light iron scrap market will probably move in line with monthly delivery settlements that should be finalized next week, sources said. Some sources reported tha...Read More
Argentinian steel producers have been granting temporary discounts in prices to their domestic market, because of a strong fall in the exchange-rate value of the country's currency.Discounts of around 5% in most domestic steel prices were granted for a period of 15-20 days, after which prices will be expected to return to their previous levels, sources told Metal Bulletin on Friday June 8.Metal Bu...Read More
Europe import prices and UK domestic prices for austenitic alloy steel scrap increased this week with nickel prices continuing to rise, reversing the losses seen last week, sources told Metal Bulletin on Friday June 8.Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,190-1,220 ($1,405-1,441) per tonne cif main European ports on Friday,...Read More
Turkish scrap import prices became firmer in the week ended Friday June 8 with demand for steel from the country's mills increasing because the United States imposed on other countries and regions the import tariffs threatened under its Section 232 trade legislation, thus leveling the international markets.This trend was in contrast to scrap prices elsewhere, however, with weak demand in India and...Read More
The United States pig iron market was quiet over the week ended Friday June 8 due to consumers having restocked in mid-May, while suppliers from the CIS were sold out till August and exporters from Brazil continued to stay out of the market."All suppliers are sold out and waiting till buyers start to restock in mid-June," one trader said. Metal Bulletin's weekly price assessment for US pig iron im...Read More
Indian domestic secondary billet prices have fallen over the past week by about 400 rupees ($6) per tonne, with demand for semi-finished materials remaining slack among finished product makers because of the early monsoon.Metal Bulletin's price assessment for domestic secondary billet in India, mainly produced through the induction furnace route, was 37,000-37,200 rupees ($550-553) per tonne ex-mi...Read More
Base prices for flat stainless steel products in Europe widened downward this week with buyers seeking to avoid bearing the full burden of June's higher alloy surcharges, Metal Bulletin has heard.Feedback on demand has been mixed in recent weeks, with some sources starting to see consumption slow down ahead of the summer holiday period, while others reported robust buying interest.Indeed, one sour...Read More
China's domestic stainless steel prices rose further over the past week to reach their highest so far this year amid strong demand.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,800-16,100 yuan ($2,471-2,518) per tonne including VAT for the week ended Thursday June 7, up 400-600 yuan per tonne from a week earlier. Environmental...Read More
Italian re-roller Marcegaglia has completed the acquisition of compatriot tube manufacturer Novero.Marcegaglia has purchased an 80% share of the Turin-headquartered company, which specializes in the production of drawn tubes, the buying company said on Thursday June 7.Marcegaglia said...Read More
China's iron ore imports rose by 2.9% year on year in May amid stronger prices.The world's biggest buyer of the steelmaking raw material took in 94.14 million tonnes last month, up from 91.52 million tonnes in May 2017, according...Read More
Italian re-roller Marcegaglia has completed the acquisition of compatriot tube manufacturer Novero.Marcegaglia has purchased an 80% share of the Turin-headquartered company, which specializes in the production of drawn tubes, the buying company said on Thursday June 7.Marcegaglia said...Read More
Europe import prices and UK domestic prices for austenitic alloy steel scrap increased this week with nickel prices continuing to rise, reversing the losses seen last week, sources told Metal Bulletin on Friday June 8.Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,190-1,220 ($1,405-1,441) per tonne cif main European ports on Friday,...Read More
Turkish scrap import prices became firmer in the week ended Friday June 8 with demand for steel from the country's mills increasing because the United States imposed on other countries and regions the import tariffs threatened under its Section 232 trade legislation, thus leveling the international markets.This trend was in contrast to scrap prices elsewhere, however, with weak demand in India and...Read More
Base metals on the London Metal Exchange ended lower at the close of trading on Friday June 8, despite broad gains in copper, nickel and lead prices week on week. Bucking the trend, zinc was the only metal to trade in positive territory at the close of the afternoon kerb session, climbing 0.6% to close above $3,200 per tonne for the first time since April 24. Copper's three-month price was th...Read More
The United States pig iron market was quiet over the week ended Friday June 8 due to consumers having restocked in mid-May, while suppliers from the CIS were sold out till August and exporters from Brazil continued to stay out of the market."All suppliers are sold out and waiting till buyers start to restock in mid-June," one trader said. Metal Bulletin's weekly price assessment for US pig iron im...Read More
The latest metal markets news and price moves to start the North American day on Friday June 8.Base metals on the London Metal Exchange were broadly lower during morning trading, with lead, nickel and copper prices falling. Copper retreated slightly after hitting a four-and-a-half year high yesterday of $7,350 per tonne. Here's how base metals prices looked at 12:15 London time: See our live futur...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Friday June 8.Base metals prices on the Shanghai Futures Exchange were down across the board during Asian morning trading on Friday, with nickel prices, under pressure from the weakening buyer sentiment seen in the stainless steel sector and bouts of profit-taking, leading the decline.Chec...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsChina's crackdown on imports of lead waste products has sent ripples through the smelting industry there, with some companies pondering capacity cuts amid one of the tightest concentrate markets in years.Primary copper smelting capacities have been partly suspended in import...Read More
China's crackdown on imports of lead waste products has sent ripples through the smelting industry there, with some companies pondering capacity cuts amid one of the tightest concentrate markets in years. Chinese customs publicly named Glencore at the end of May as attempting to import 16,000 tonnes of lead waste products labeled as concentrates originating in Germany, detaining two employees...Read More
Base metals on the London Metal Exchange ended lower at the close of trading on Friday June 8, despite broad gains in copper, nickel and lead prices week on week. Bucking the trend, zinc was the only metal to trade in positive territory at the close of the afternoon kerb session, climbing 0.6% to close above $3,200 per tonne for the first time since April 24. Copper's three-month price was th...Read More