Turkish billet prices continued to decrease over the past week on lower offers from CIS suppliers and weakening imported scrap values, sources said on Thursday April 5.Metal Bulletin's weekly price assessment for billet imports into Turkey was $530-540 per tonne cfr, down from the $540-550 per tonne of last week.The suppliers in the CIS region...Read More
Import prices for steel billet in Egypt fell this week on declining demand, sources told Metal Bulletin on Thursday April 5.CIS-origin billet was on offer in Egypt at $540-545 per tonne cfr, down from last week's $550-555 per tonne cfr. No new price was heard from Iran. Metal Bulletin's weekly...Read More
Major Indonesia producer PT Krakatau Steel is maintaining its June 2018 start-up date for its new blast furnace, a company official told Metal Bulletin on April 5."The company will keep to the June 2018 date and there will be no delays," the official said, dismissing persistent market chatter that the blow-in could be delayed until 2019.The new 1.2 million tonnes per year blast furnace is located...Read More
Import prices for stainless steel in East Asia continued to soften over the past week due to thin buying interest and sellers trying to destock, even as market participants in Taiwan took a breather due to a string of public holidays on the island.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,080-2,130 per tonne cif East Asian ports for the w...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for February U.S. Trade Deficit was $56.8 billion versus $56.6 billion in January. Actual was $57.6 billion. Consensus for Weekly Jobless Claims was 226,000 versus 215,000 last week. Actua...Read More
Car production in Brazil rose by 13.50% year-on-year in March, driven by higher sales to the local market.Production came to 267,500 units, against 235,600 vehicles in the corresponding month last year, according to figures released by national automobile association Anfavea on Thursday April 5.Car sales to the Brazilian domestic market increased by 9.60% in March on an annual...Read More
Turkey's Oyak Group - owner of the country's biggest steel producer, Erdemir Group - is to invest in a new port in Kocaeli in partnership with Japan's Nippon Yusen Kaisha (NYK Line), Erdemir announced on Thursday April 5.The investment will be $110 million, for the port to be located on the Yarimca peninsula of Kocaeli's K??rfez district, east of Istanbul. It will be a...Read More
Import prices for stainless steel in East Asia continued to soften over the past week due to thin buying interest and sellers trying to destock, even as market participants in Taiwan took a breather due to a string of public holidays on the island.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,080-2,130 per tonne cif East Asian ports for the w...Read More
Base metals prices on the London Metal Exchange are mixed this morning, Thursday April 5. The main movers are nickel, with prices up by 0.6% at $13,230 per tonne, and zinc where prices are down by 0.5% at $3,237 per tonne. Copper prices are up by 0.1% at $6,721 per tonne. Volume has been light with 2,187 lots traded as of 06.46 am London time, this because China is off for the rest of the week to...Read More
The export market for CIS-origin pig iron was quiet in the week ended Thursday April 5 because of the Easter holidays in the United States and Europe."There is no activity in the US due to Easter and the expectations of scrap market price [movements] in April," a source close to pig iron suppliers told Metal Bulletin.In the US, the offer price for low-manganese pig iron was $425 per tonne cfr. Tha...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Thursday April 5, with copper's three-month price gaining 1.5%."Industrial metals reacted broadly positive as investors assess the outlook for US-China trade tensions while both major economies signal willingness to negotiate," John Meyer, SP Angel analyst said."Copper regained [momentum] on the announcem...Read More
Turkish steel mills went through Thursday April 5 with no deep-sea bookings and prices remaining stable, according to sources in the market.The most recent deal was for a Baltic Sea cargo sold at $356 per tonne cfr for HMS 1&2 (80:20), $361 per tonne for HMS 1&2 (90:10) and shredded,...Read More
Comex copper prices bounced back in US morning trading on Thursday April 5 amid easing tensions between the United States and China. Copper for May settlement on the Comex division of the New York Mercantile Exchange jumped 6.65 cents or 2.2% to $3.0770 per lb. "We remain modestly constructive on metals going into April, as we suspect...Read More
The latest metal markets news and price moves to start the North American day on Thursday April 5.Zinc prices on the London Metal Exchange came under further pressure during morning trading today after on-warrant stocks rose by 16%.The three-month zinc price was the only metal trading in negative territory following a 23,425 tonne re-warranting in New Orleans - which takes total available stock to...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Thursday April 5.Base metals prices on the London Metal Exchange were all higher during Asian morning trading on Thursday amid hopes that talks between the United States and China could avert a global trade war.The LME three-month copper price was at $6,747 per tonne as of 03.29am London t...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Thursday April 5, with copper's three-month price gaining 1.5%."Industrial metals reacted broadly positive as investors assess the outlook for US-China trade tensions while both major economies signal willingness to negotiate," John Meyer, SP Angel analyst said."Copper regained [momentum] on the announcem...Read More
Comex copper prices bounced back in US morning trading on Thursday April 5 amid easing tensions between the United States and China. Copper for May settlement on the Comex division of the New York Mercantile Exchange jumped 6.65 cents or 2.2% to $3.0770 per lb. "We remain modestly constructive on metals going into April, as we suspect...Read More
Zinc prices on the London Metal Exchange came under further pressure during morning trading on Thursday April 5, with on-warrant stocks rising 16%. The three-month zinc price was the only metal trading in negative territory following a 23,425 tonne re-warranting in New Orleans - which takes total available stock to 166,650 tonnes. The rest of the complex made a slight recovery with potential talks...Read More
Cesco Week, the annual copper industry gathering in Santiago, starts on Sunday in the Chilean capital, with some 2,000 local and international market participants in attendance to discuss the outlook for copper prices and mining as a whole.Here is a list of the events and functions scheduled for the week.Please note that events are private receptions and admission is strictly by invitation only.Su...Read More
Turkish billet prices continued to decrease over the past week on lower offers from CIS suppliers and weakening imported scrap values, sources said on Thursday April 5.Metal Bulletin's weekly price assessment for billet imports into Turkey was $530-540 per tonne cfr, down from the $540-550 per tonne of last week.The suppliers in the CIS region...Read More