Domestic prices for hot-dipped galvanized coil (HDG) in the EU have been under pressure from low offers from Turkey, sources told Metal Bulletin on Wednesday April 25."HDG prices [in Southern Europe] showed a reduction due to the offers from Turkey. European steelmakers are struggling to get close to the level of import prices," an Italian trader said.Metal Bulletin's weekly price assessment for i...Read More
Domestic prices for cold-rolled coil (CRC) in Europe have moved down over the past week due to slow trading activity, sources told Metal Bulletin on Wednesday April 25.The market has been slow because distributors are more focused on selling material from stock than on making new deals with mills."I foresee a weak market for the whole month of May," a Southern European trader said.In addition, Sou...Read More
United Arab Emirates steel producer Conares Steel cut its domestic rebar price on Wednesday, April 25. The company is offering rebar at 2,216 dirhams ($603) per tonne ex-works, down from 2,381.5 dirhams per tonne ex-works. The...Read More
European authorities are thought to be considering whether to start an anti-dumping case into imports of steel hollow sections originating from Macedonia, sources told Metal Bulletin on Wednesday April 25."The information has been circulating in the market that the European Commission [EC] might start a trade case into Macedonian hollow sections. But it is unclear if [European steel association] E...Read More
Prices for domestic hollow steel sections edged downward slightly in Northern Europe this week due to low levels of activity but Southern European prices remained stable, market sources told Metal Bulletin on Wednesday April 25.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe was down by ?,?5 to ?,?660-665 ($806-812) per...Read More
Turkish steel producers returned to the deep-sea scrap markets for UK-origin cargoes on Wednesday April 25, with prices going down slightly.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $341.07 per tonne cfr, down by $1.53 per tonne day-on-day.The daily index for similar US-origin material closed at $349.67 per...Read More
The seaborne iron ore market continued to weaken on Wednesday April 25, with a cargo of Pilbara Blend fines even offered at a discount against the May average of an index.Metal Bulletin 62% Fe Iron Ore Index: $66.38 per tonne cfr Qingdao, down by $0.88 per tonneMetal Bulletin 58% Fe Premium Index: $55.94 per tonne cfr Qingdao, down by $0.14 per tonneMetal Bulletin 65% Fe Iron Ore Index: $84.70 per...Read More
China's steel futures edged up during morning trading on Wednesday April 25, with prices in the physical market gaining strength amid some recovery in demand.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,581 yuan ($567) per tonne, up 17 yuan per tonne October hot-rolled coil: 3,690, up 9 yuan per tonne Dalian Commodity Exchange September iron ore: 473 yuan per...Read More
China's domestic rebar prices stopped rising on Wednesday April 25 after demand softened. Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($615-621) per tonne, unchangedNorthern China (Beijing): 3,740-3,770 yuan per tonne, unchanged Rebar futures did not perform as strongly as they did in the last couple of days, which led buyers to cut their procurement rates on expectations of lower prices i...Read More
Despite its potential impact on nickel ore supply, the latest development in the Philippine mining industry is having lesser impact on Shanghai Futures Exchange nickel prices while market participants focus on demand-side issues. SHFE nickel prices have trended down since the most-traded SHFE July nickel contract hit a high of 109,790 yuan ($17,396) per tonne on April 18, the highest since May 201...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade. First quarter reports continue to pour in. Reports released since yesterday's close included Amgen, Boeing, Boston Scientific, Comcast, GlaxoSmithKline, Goodyear, Hess, Northrop Grumman, Owens Corning, Texas Instruments, Twitter, Viacom and Wynn Resorts.Boeing gained $8.63 to $337.20 aft...Read More
SHANGHAI, Apr 25 (SMM) – Nonferrous metals fell across the board on Wednesday April 25 except for SHFE copper. SHFE zinc dropped over 1%, lead lost 0.76%, tin and aluminum edged down and nickel dipped.The ferrous complex also fell, except for rebar. Iron ore dropped 1.58%, coking coal slid 1.44% and hot-rolled coil and coke dipped.Copper: As the US dollar gained, the SHFE 1806 contract hover...Read More
SHANGHAI, Apr 25 (SMM) – Nonferrous metals fell across the board on Wednesday April 25 except for SHFE copper. SHFE zinc dropped over 1%, lead lost 0.76%, tin and aluminum edged down and nickel dipped.The ferrous complex also fell, except for rebar. Iron ore dropped 1.58%, coking coal slid 1.44% and hot-rolled coil and coke dipped.Copper: As the US dollar gained, the SHFE 1806 contract hover...Read More
SHANGHAI, Apr 25 (SMM) – Nonferrous metals fell across the board on Wednesday April 25 except for SHFE copper. SHFE zinc dropped over 1%, lead lost 0.76%, tin and aluminum edged down and nickel dipped.The ferrous complex also fell, except for rebar. Iron ore dropped 1.58%, coking coal slid 1.44% and hot-rolled coil and coke dipped.Copper: As the US dollar gained, the SHFE 1806 contract hover...Read More
Prices for domestic hollow steel sections edged downward slightly in Northern Europe this week due to low levels of activity but Southern European prices remained stable, market sources told Metal Bulletin on Wednesday April 25.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe was down by ?,?5 to ?,?660-665 ($806-812) per...Read More
SHANGHAI, Apr 25 (SMM) – Jiangsu province will undertake a month-long, joint environmental inspection across eight cities along the Yangtze River from Tuesday April 24, the Jiangsu Provincial Environmental Protection Office said on Monday April 23.To protect and preserve the ecology along the river, inspections will be conducted in Nanjin, Wuxi, Changzhou, Suzhou, Nantong, Yangzhou...Read More
SHANGHAI, Apr 25 (SMM) – With adequate supplies in the Shanghai zinc spot market, downstream buyers made few purchases on Wednesday April 25. Cargoes with invoices for May offered at smaller premiums of 50-80 yuan/mt from cargoes with invoices for April against the SHFE 1805 contract. SMM learned that some smelters were not keen to sell, given the lower value-added tax from May 1.In Sha...Read More
SHANGHAI, Apr 25 (SMM) – Jiangsu province will undertake a month-long, joint environmental inspection across eight cities along the Yangtze River from Tuesday April 24, the Jiangsu Provincial Environmental Protection Office said on Monday April 23.To protect and preserve the ecology along the river, inspections will be conducted in Nanjin, Wuxi, Changzhou, Suzhou, Nantong, Yangzhou...Read More
SHANGHAI, Apr 25 (SMM) – Jiangsu province will undertake a month-long, joint environmental inspection across eight cities along the Yangtze River from Tuesday April 24, the Jiangsu Provincial Environmental Protection Office said on Monday April 23.To protect and preserve the ecology along the river, inspections will be conducted in Nanjin, Wuxi, Changzhou, Suzhou, Nantong, Yangzhou...Read More
SHANGHAI, Apr 25 (SMM) – Norilsk nickel in the Shanghai market traded at a premium of 600-800 yuan/mt against the Wuxi Stainless Steel Exchange 1805 contract on Wednesday April 25, while Jinchuan traded at a premium of 1,000-1,200 yuan/mt, SMM learned.Jinchuan offered nickel plate at 104,500 yuan/mt.For cargoes with invoices for May, Norilsk nickel traded at a premium of 300 yuan/mt with Jin...Read More