Prices for containerized shredded scrap imports into India moved downward again this week despite trading conditions improving by the end of the period, market sources told Metal Bulletin on Friday April 13.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $381.27 per tonne cfr Nhava Sheva on April 13, down by $4.72 per tonne week-on-week, compared with $385....Read More
Indian local secondary billet prices have risen by at least 1,700 rupees per tonne in the current week on increased demand from rebar mills.Prices for Indian domestic secondary billet, mainly produced through induction furnace route, on Friday April 13 were 35,000-35,200 rupees ($xx-xx) per tonne ex-mill, an increase of 1,700 rupees per tonne compared with Metal Bulletin's assessment last week of...Read More
China's domestic rebar prices rebounded on Friday April 13 following the rising futures. Domestic Eastern China (Shanghai): 3,660-3,710 yuan ($582-590) per tonne, up 30 yuan per tonne Northern China (Beijing): 3,670-3,700 yuan per tonne, up 10 yuan per tonne Rebar futures moved up steadily on Friday, which kept sentiment bullish in the spot market. Buyers raised procurement rates on seeing the pap...Read More
The base price assessments for flat stainless steel products in Europe narrowed downward by ?,?10 per tonne this week due to continued pressure from cheap imports, sources told Metal Bulletin on Friday April 13.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet was ?,?1,050-1,100 ($1,296-1,357) per tonne delivered in Northern Europe on Friday, c...Read More
China's domestic stainless steel prices remained in a downward trend over the past week due to the high selling interest among stockists.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 13,700-14,500 yuan ($2,179-2,306) per tonne including VAT for the week ended Thursday April 12, down 300 yuan per tonne from last Wednesday. Stockis...Read More
Netherlands-based tube and pipe distributor, Van Leeuwen Group, has forecast good demand and higher prices in the international tube and pipe market in 2018 after a successful 2017.Investments are going to increase in 2018, resulting in higher demand and an upward price trend, the company said on April 11. Northern European domestic prices for commodity-size, grade-S235 square hollow sections aver...Read More
Join us at SMM’s Asia Metals Seminar during LME Asia week, co-hosted with Hong Kong Exchanges and Clearing Limited (HKEX) and Bloomberg, on Tuesday May 15.The event features global industry leaders who will share their perspectives on a range of topics including EV metals, battery materials, and base metals outlook amid supply volatility. The rising importance of index would also be discusse...Read More
Join us at SMM’s Asia Metals Seminar during LME Asia week, co-hosted with Hong Kong Exchanges and Clearing Limited (HKEX) and Bloomberg, on Tuesday May 15.The event features global industry leaders who will share their perspectives on a range of topics including EV metals, battery materials, and base metals outlook amid supply volatility. The rising importance of index would also be discusse...Read More
Join us at SMM’s Asia Metals Seminar during LME Asia week, co-hosted with Hong Kong Exchanges and Clearing Limited (HKEX) and Bloomberg, on Tuesday May 15.The event features global industry leaders who will share their perspectives on a range of topics including EV metals, battery materials, and base metals outlook amid supply volatility. The rising importance of index would also be discusse...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. JP Morgan gained $1.48 to $114.85 after reporting higher than consensus first quarter earnings. NetApp added $1.18 to $68.75 after JP Morgan initiated coverage with an Overweight rating and an $80 target price.Citigroup advanced 1.21 to 73.34 after reporting higher than consensus first q...Read More
SHANGHAI, Apr 13 (SMM) – Development in the cathode materials industry is likely to drive the development of new-energy vehicles as cathode materials determine battery performance, said vice president of Yibin Libode New Materials' technology centre, Wu Ceng.At the SMM CoLiNi Summit on Friday April 13 in Quzhou, Zhejiang province, Wu said that the industry remain...Read More
SHANGHAI, Apr 13 (SMM) – China's production capacity of nickel sulphate is expected to exceed 700,000 mt in 2018, and equate to 160,000 mt of nickel. By 2020, capacity is likely to exceed 1 million mt and amount to 220,000 mt of nickel, according to general manager of Jinchuan Group Nickel Salt, Zhou Youming.Nickel consumption in China's battery industry is l...Read More
SHANGHAI, Apr 13 (SMM) – Development in the cathode materials industry is likely to drive the development of new-energy vehicles as cathode materials determine battery performance, said vice president of Yibin Libode New Materials' technology centre, Wu Ceng.At the SMM CoLiNi Summit on Friday April 13 in Quzhou, Zhejiang province, Wu said that the industry remain...Read More
ArcelorMittal has told the European Commission (EC) it plans to sell-off a raft of its European flat steelmaking assets to seal its acquisition of Italian producer Ilva, the company said on Friday April 13.ArcelorMittal is proposing to sell all of the assets, and not simply a selection of them, a company spokesman confirmed to Metal Bulletin on Friday.Any sales would be conditional upon completion...Read More
SHANGHAI, Apr 13 (SMM) – Nonferrous metals futures saw mixed trading on Friday April 13. SHFE nickel jumped close to 2%, aluminium rose 1.85% while zinc dropped nearly 2%. Lead lost 0.81%, copper fell 0.67% while tin dipped.The ferrous complex closed higher across the board with rebar up 1.62%. Hot-rolled coil increased 1.6%, coke edged up 1.56%, iron ore rose over 1% and coking coal inched...Read More
SHANGHAI, Apr 13 (SMM) – Nonferrous metals futures saw mixed trading on Friday April 13. SHFE nickel jumped close to 2%, aluminium rose 1.85% while zinc dropped nearly 2%. Lead lost 0.81%, copper fell 0.67% while tin dipped.The ferrous complex closed higher across the board with rebar up 1.62%. Hot-rolled coil increased 1.6%, coke edged up 1.56%, iron ore rose over 1% and coking coal inched...Read More
SHANGHAI, Apr 13 (SMM) – Development in the cathode materials industry is likely to drive the development of new-energy vehicles as cathode materials determine battery performance, said vice president of Yibin Libode New Materials' technology centre, Wu Ceng.At the SMM CoLiNi Summit on Friday April 13 in Quzhou, Zhejiang province, Wu said that the industry remain...Read More
SHANGHAI, Apr 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDriven by US President Donald Trump's tempered remarks on Syria, the US dollar index rebounded to 89.7, up 0.28%, while most base metals closed lower. LME zinc tumbled 4% and SHFE zinc slipped 2% under pressure from market talk that China's State Reserve Bureau...Read More
SHANGHAI, Apr 13 (SMM) – Nonferrous metals futures saw mixed trading on Friday April 13. SHFE nickel jumped close to 2%, aluminium rose 1.85% while zinc dropped nearly 2%. Lead lost 0.81%, copper fell 0.67% while tin dipped.The ferrous complex closed higher across the board with rebar up 1.62%. Hot-rolled coil increased 1.6%, coke edged up 1.56%, iron ore rose over 1% and coking coal inched...Read More
SHANGHAI, Apr 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDriven by US President Donald Trump's tempered remarks on Syria, the US dollar index rebounded to 89.7, up 0.28%, while most base metals closed lower. LME zinc tumbled 4% and SHFE zinc slipped 2% under pressure from market talk that China's State Reserve Bureau...Read More