Prices decreased in most markets last week, with demand for rebar remaining subdued in many regions, but a recovery in prices for semi-finished material in China led to improved sentiment in some countries later in the week.Raw materialsGlobal scrap prices showed different trends last week, with prices in Turkey being volatile, while decreases were seen in India and Taiwan.Metal Bulletin's daily i...Read More
Aluminium on the London Metal Exchange continued its record-breaking rally by the close of trading on Monday April 16, rocketing over 5% to reach a high of more than $2,400 per tonne.The light metal closed a dollar short of the $2,400 pertonne mark, its highest since September 2011.Despite lighter volumes in comparison to last week's 35,871lot average, aluminium's strong sentiment continues to dom...Read More
The London Metal Exchange will allow open positions with Russian aluminium producer Rusal to remain open until June 5 and hedges to be unwound as long as payments are made into segregated accounts, it said in a notice to its members on Monday April 16. Some LME members holding hedging or clearing contracts with UC Rusal have been worried about having to immediately unwind positions since the Unite...Read More
Lack of buying support and falling prices weighed on the Chinese ferro-chrome price assessment on Friday April 13 and market participants predicted subsequent softening to trickle into Japan, where demand is soft; US high-carbon prices fell temporarily in a quiet trading week. Japan and South Korea ferro-chrome prices nudge down Weak demand from stainless steel mills weigh on Chinese ferro-c...Read More
Chinese domestic ferro-silicon prices stabilized last week, with production cuts and a sudden jump in ferro-silicon futures on the Zhengzhou Commodity Exchange supporting the free market. China garners production, futures support Europe awaits tenders results US ends six-week losing streak Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices uncha...Read More
Spot market treatment and refining charges (TC/RCs) for copper concentrates rose for the first time since January on Friday April 13 following an enforced shutdown of Sterlite's Tuticorin smelter. The Metal Bulletin spot TC/RC index rose by 2% on Friday to $67.20 per tonne / 6.2 cents per lb, reflecting a willingness among traders to sell to smelters at higher levels. "At the start of Cesco [...Read More
Chinese domestic ferro-silicon prices stabilized last week, with production cuts and a sudden jump in ferro-silicon futures on the Zhengzhou Commodity Exchange supporting the free market. China garners production, futures support Europe awaits tenders results US ends six-week losing streak Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices uncha...Read More
Chinese silicon export prices edged lower on weak consumption, while European prices followed China down and US prices dropped on the US International Trade Commission's (ITC) ruling against anti-dumping and countervailing duties on imports from key suppliers.Chinese grade-553 silicon export prices moved down to $1,900-1,960 per tonne on April 13, from $1,940-1,980 per tonne one week ago. Cheap ma...Read More
Turkish steel producers continued their deep-sea scrap purchases for May on Monday April 16 but the prices have gone down slightly following the latest bookings, Metal Bulletin has heard.A steel mill in the Iskenderun region booked a European cargo, comprising 12,000 tonnes of HMS 1&2 (75:25) at $342 per tonne and 12,000 tonnes of bonus at $362 per tonne cfr, late on April 13.Another steel mill in...Read More
Turkish domestic ship scrap prices have slightly increased with the latest uptick in imported scrap costs, while auto bundle scrap prices have remained comparatively steady over the past week, sources said on Monday April 16.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market was $341-352 per tonne delivered, widening upward from last week's...Read More
Comex copper prices recovered further in the US morning on Monday April 16 amid a brief pause in geopolitical tensions. Copper for May settlement on the Comex division of the New York Mercantile Exchange gained 3.60 cents or 1.2% to $3.1070 per lb. "We expect volatility to remain high this week as the geopolitical situation with Russia remains...Read More
Base metals traded on the London Metal Exchange experienced slight upward pressure this morning, Monday April 16, with the complex posting an average gain of 0.5% amid decent trading volumes. Aluminium (+0.8%) and zinc (+0.8%) are leading the pack higher, while copper (-0.1%) is the only LME base metal to trade in negative territory.The slight upward pressure across the industrial metals coincides...Read More
The domestic market for hot-rolled (HR) and cold-rolled (CR) steel sheet in the central region of Russia, around Moscow, was quiet during the week ended Monday April 16.Traders with sufficient stocks were able to wait for announcements of prices for May-rolled products, Metal Bulletin was told.Metal Bulletin's weekly assessment of the price for Russia-origin 4mm HR sheet was unchanged on April 16...Read More
Import prices for re-rolling-grade hot-rolled coil sold into Vietnam continued to fall over the past week with offers becoming more competitive amid persistently weak demand.Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $595-607 per tonne cfr for the week ended Monday April 16, down...Read More
Hot-rolled coil prices rose in east China in the morning of Monday April 16 but ceded a lot of those gains in the afternoon following losses in the paper market.DomesticEastern China (Shanghai): 3,930-3,980 yuan ($626-634) per tonne, up 10-30 yuan per tonneNorthern China (Tianjin): 3,870-3,890 yuan per tonne, unchanged Spot cargoes changed hands at 3,940-3,980 yuan per tonne in the first half of t...Read More
The Brazilian competition regulator, Cade, has approved the sale of long steel assets from ArcelorMittal Brasil to Mexico's Grupo Simec, according to a document published in the country's official gazette on Monday April 16.These divestments are part of the merger process between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia. In February, Cade approved the merger between...Read More
Mexico's steel association, Canacero, has appointed M??ximo Vedoya its new president, it announced on Monday April 16.Vedoya, chief executive officer at Latin American steel producer Ternium, will lead the group for one year, but with the possibility of his mandate being extended for a further two years.He replaces...Read More
CIS export rebar and wire rod prices decreased in the week to Monday April 16 on thin trading and a less positive sentiment in the global market.Metal Bulletin's weekly price assessment for CIS wire rod exports dropped to $580-605 per tonne fob Black Sea on April 16, compared with $590-620 per tonne Offers from Russia's Abinsk Steel Mill for May delivery were heard at $595-600 per tonne fob.....Read More
Turkish steel producers continued their deep-sea scrap purchases for May on Monday April 16 but the prices have gone down slightly following the latest bookings, Metal Bulletin has heard.A steel mill in the Iskenderun region booked a European cargo, comprising 12,000 tonnes of HMS 1&2 (75:25) at $342 per tonne and 12,000 tonnes of bonus at $362 per tonne cfr, late on April 13.Another steel mill in...Read More
Turkish domestic ship scrap prices have slightly increased with the latest uptick in imported scrap costs, while auto bundle scrap prices have remained comparatively steady over the past week, sources said on Monday April 16.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market was $341-352 per tonne delivered, widening upward from last week's...Read More