Import prices for re-rolling-grade hot-rolled coil sold into Vietnam declined over the past week on softer end-user 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 $600-610 per tonne for the week ended Monday April 9, narrowing downward by $10 per tonne from a week earlier.Mark...Read More
China's steel futures picked up some gains during morning trading on Monday April 9 while steelmaking raw materials contracts largely softened after a major steel-producing city in north China unveiled restrictions for the next six months.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,356 ($532) per tonne, up 18 yuan per tonne May hot-rolled coil: 3,746 yuan pe...Read More
Brazilian imports of long steel products increased by 6.86% year-on-year in March 2018, with higher shipments from Turkey and South Korea.Imports of non-alloyed long steel products amounted to 20,349 tonnes during the month, against 19,043 tonnes in the corresponding period a year earlier, according to figures released...Read More
CIS export rebar and wire rod prices became firmer in the week ended Monday April 9 because the availability of the products, as well as the semi-finished products used to make them, was reduced by recent strong sales.This was despite the continuing downward trend in the global long steel markets, most notably in Turkey and China.The CIS region's major long-steel supplier, ArcelorMittal, was offer...Read More
The safeguard investigation by the European Commission (EC) into steel product imports is likely to result in quotas being applied instead of tariffs, according to the International Rebar Producers & Exporters Association (Irepas)."The likelihood of ending up with more safeguard measures, as happened in 2002, is very high," Irepas said late last week. "The EU will probably apply quotas instead of...Read More
The Turkish steel mills went quiet again in the deep-sea scrap markets at the beginning of this week, but they are still expected to book more scrap for May, sources said on Monday April 9.After booking a number of deep-sea cargoes in the past week, the mills stepped back from the market on April 6.But market participants expected more cargoes to change hands over the rest of the week, Metal Bulle...Read More
Turkish domestic ship scrap prices have fallen slightly with the Turkish lira weakening against the US dollar, while auto bundle scrap prices remained flat, sources said on Monday April 9.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market fell to $341-350 per tonne delivered, down from last week's $343-353 per tonne.The downward movement in...Read More
The seaborne iron ore market was largely unchanged on Monday April 9 amid stable billet prices over an extended weekend in China. Metal Bulletin 62% Fe Iron Ore Index: $63.95 per tonne cfr Qingdao, up by $0.38 per tonneMetal Bulletin 58% Fe Premium Index: $52.21 per tonne cfr Qingdao, up by $0.42 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, up by $1 p...Read More
The CIS export billet price continued to fall in the week ended Monday April 9, influenced by the drop in Chinese export billet prices as well as a slump in import scrap prices in Turkey.Metal Bulletin's export CIS billet index was $515 per tonne fob Black Sea on April 9, down by $5 week on week.Some CIS producers followed the downward trend in an attempt to win contracts, and decreased their offe...Read More
China's major mills raised their crude steel output rates in mid-March after restrictions on production put in place for the winter heating season in the northern region came to an end.Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.7872 million tonnes per day during the second 10 days of March, up 55,200 tonnes - or 3.2% - from 1.732 million...Read More
SHANGHAI, Apr 9 (SMM) – Nonferrous metals saw mixed trading on Monday April 9. SHFE aluminium rebounded and closed nearly 1.4% higher. Copper inched up, while zinc fell over 1% and nickel dipped almost 1%. Lead and tin were slightly down.In the ferrous market, hot-rolled coil gained nearly 2% and rebar grew over 1%. Coke, coking coal, and iron ore edged down.Copper: The SHFE 1805 copper cont...Read More
SHANGHAI, Apr 9 (SMM) – Nonferrous metals saw mixed trading on Monday April 9. SHFE aluminium rebounded and closed nearly 1.4% higher. Copper inched up, while zinc fell over 1% and nickel dipped almost 1%. Lead and tin were slightly down.In the ferrous market, hot-rolled coil gained nearly 2% and rebar grew over 1%. Coke, coking coal, and iron ore edged down.Copper: The SHFE 1805 copper cont...Read More
SHANGHAI, Apr 9 (SMM) – Nonferrous metals saw mixed trading on Monday April 9. SHFE aluminium rebounded and closed nearly 1.4% higher. Copper inched up, while zinc fell over 1% and nickel dipped almost 1%. Lead and tin were slightly down.In the ferrous market, hot-rolled coil gained nearly 2% and rebar grew over 1%. Coke, coking coal, and iron ore edged down.Copper: The SHFE 1805 copper cont...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Early strength is attributed to downplay on a potential trade war with China by White House officials over the weekend. Merck gained $1.34 to $54.70 following release of positive results from trials for its Keytruda cancer treatment. General Motors added $0.83 to $38.51 after Morgan Stan...Read More
SHANGHAI, Apr 9 (SMM) – Traders were actively looking to sell copper in the Shanghai spot market on the morning of Monday April 9. While they offered the red metal at a premium of 60-120 yuan/mt, transactions were mostly concluded at a premium of 70-100 yuan/mt.Standard-quality copper was heard traded at 50,320-50,460 yuan/mt and high-quality copper was at 50,340-50,500 yuan/mt, SMM lea...Read More
SHANGHAI, Apr 9 (SMM) – This is a roundup of global macroeconomic news last week and what is expected today.Last weekThe US dollar closed at 90.12 on Friday April 6, up 0.25% over the week. LME metals fell across the board on Friday except for aluminium, which was up over 3% inventory dropped for the first time in over nine months. Copper edged down close to 1%. Zinc and tin fell over 1...Read More
SHANGHAI, Apr 9 – Trading in China's zinc spot market was more active on Monday April 9 than before the Qingming holiday. As SHFE zinc 1805 contract dipped to a low of 24,380 yuan/mt during the day, downstream buyers were keen to stock amid adequate supply, SMM learned.In the Shanghai market, 0# zinc traded at 24,380-24,850 yuan/mt. The 0# common brand traded at a premium of 30-40 yuan/m...Read More
Vancouver, British Columbia, Canada – Monday, April 9, 2018 – Canada Zinc Metals Corp. (“Canada Zinc Metals” or “the Company”, TSX Venture Exchange: CZX) is pleased to announce the results from new metallurgical test data on the 2017 drill core from its 100% owned zinc-lead-silver Cardiac Creek deposit located on the Akie property in northeast British Columbia.H...Read More
Japan’s largest copper smelter Pan Pacific Copper plans to increase its output by 300,000 mt during April to September this year, the company said last Friday.This would be a 15% increase from the same period last year. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@smm.cnRead More
SHANGHAI, Apr 9 (SMM) –Copper: LME copper rebounded to a high of $6,870/mt last Friday due to a weaker US dollar. In the short term, the upward trend for copper prices will face resistance as a China-US trade war continues to brew. We see LME copper trading at $6,740-6,800/mt with the SHFE 1805 contract at 50,000-50,600 yuan/mt today. On the spot market, we see premiums slightly lower at 10-...Read More