Prices for imported billet in the United Arab Emirates increased this week on higher offers, but demand for rebar imports remained limited, sources told Metal Bulletin on Tuesday March 20. Demand for locally produced rebar in the UAE still remained strong, however. Domestic rebar The major rebar producers in the UAE rolled over prices for March and April production late in February. New prices are...Read More
The Turkish scrap import market continued to be quiet on Tuesday March 20, on the absence of fresh deep-sea trading.Turkish steel producers stepped back from deep-sea scrap purchases on March 9, following the Section 232 announcement in the United States that applied a 25% duty to imports of steel products.The demand for rebar exports has gone down sharply since that announcement and the Turkish m...Read More
Domestic prices for ferrous scrap in Italy increased by ?,?30 ($35) per tonne this month following the positive trend in the international market, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade E3 scrap in Italy was ?,?290-310 ($357-381) per tonne delivered in March, up from ?,?260-280 per tonne delivered a month earlier. The increase was...Read More
Iron ore prices slipped below $67 per tonne cfr China on Tuesday March 20 following further losses in China's steel and futures markets. Metal Bulletin's 62% Fe Iron Ore Index Today: $66.94 per tonne cfr Qingdao Daily change: down by $0.51 per tonne Month-to-date average: $72.69 per tonne Metal Bulletin's 58% Fe Premium Index Today: $54.58 per tonne cfr Qingdao Daily change: unchanged Month-to-dat...Read More
Steel demand in Japan was down across most end-use industries in January, statistics released by the Japan Iron & Steel Federation (JISF) showed.The country's total domestic steel consumption in the month dropped by 2.7% year on year to 3.57 million tonnes.Demand in the manufacturing sector dropped the most, dipping by 7% compared with the corresponding month in 2017 to 1.57 million tonnes. This w...Read More
China's domestic rebar prices remained in a downward trend on Tuesday March 20 with sellers making more effort to destock.Domestic Eastern China (Shanghai): 3,670-3,730 yuan ($579-589) per tonne, down 60-70 yuan per tonne Northern China (Beijing): 3,850-3,880 yuan per tonne, down 20 yuan per tonne Sellers in the spot market lowered their prices after rebar futures declined in the morning trading s...Read More
Import prices for steel billet in Southeast Asia softened over the past week with more cargoes of cheaper Chinese product being offered to the region, while offers for slab in the wider region including East Asia are showing signs of declining.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $560-570 per tonne cfr for the week ended Monday March 19, down $5 per t...Read More
Chinese vanadium suppliers pushed up their offer prices considerably last week, after the market continued to be supported by low availability of stocks. Chinese suppliers elevate offers on thinning inventories European ferro-vanadium market stabilizes temporarily amid spot demand slowdownUS ferro-vanadium market quiet, but further gains expected after strong late week dealsChinese vanadium export...Read More
Crude steel output in Argentina grew 36.8% year on year in February, according to figures released by national steel association Acero Argentino on Tuesday March 20.Production amounted to 417,300 tonnes, up from 305,100 tonnes the year before.February's crude steel output also increased 21.4% from January's level of 343,000 tonnes.The month on month recovery is a result of the conclusion of mainte...Read More
German government figures and steel companies are looking for a quick resolution to the concerns cerated by the impending United States import tariffs on European steel. "We have agreed that very intensive talks between the EU and [the US] are needed this week to avoid a trade conflict that could damage the vital interests of both sides," Peter Altmaier, Germany's economy minister, said on Monday...Read More
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Price slide continues Aluminium prices continue...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest...Read More
SHANGHAI, Mar 20 (SMM) – Base metals rode on momentum from one another and narrowed declines from yesterday. Most nonferrous metals, except nickel, closed lower. Lead fell 0.7%, tin and zinc dipped 0.6%, and copper and aluminium edged down. The ferrous complex rebounded and reduced losses. Iron ore dropped over 2%, coke fell over 1%, rebar and hot-rolled coil ed...Read More
SHANGHAI, Mar 20 (SMM) – Base metals rode on momentum from one another and narrowed declines from yesterday. Most nonferrous metals, except nickel, closed lower. Lead fell 0.7%, tin and zinc dipped 0.6%, and copper and aluminium edged down. The ferrous complex rebounded and reduced losses. Iron ore dropped over 2%, coke fell over 1%, rebar and hot-rolled coil ed...Read More
SHANGHAI, Mar 20 (SMM) – Base metals rode on momentum from one another and narrowed declines from yesterday. Most nonferrous metals, except nickel, closed lower. Lead fell 0.7%, tin and zinc dipped 0.6%, and copper and aluminium edged down. The ferrous complex rebounded and reduced losses. Iron ore dropped over 2%, coke fell over 1%, rebar and hot-rolled coil ed...Read More
Crude steel output in Argentina grew 36.8% year on year in February, according to figures released by national steel association Acero Argentino on Tuesday March 20.Production amounted to 417,300 tonnes, up from 305,100 tonnes the year before.February's crude steel output also increased 21.4% from January's level of 343,000 tonnes.The month on month recovery is a result of the conclusion of mainte...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. The Federal Reserve Open Market Committee meets today and tomorrow to examine U.S. monetary policy.Oracle plunged $4.56 to $47.39 after reporting lower than consensus fiscal third quarter revenues. The company also lowered its guidance. Stifel Nicolaus downgraded the stock to Hold from Bu...Read More
Aluminium Aluminium prices continue to test underlying support after the...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts...Read More
SHANGHAI, Mar 20 (SMM) – Norilsk nickel in the Shanghai market traded at a discount of about 400 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on Tuesday March 20, while Jinchuan traded at a premium at 0-100 yuan/mt, SMM learned.Jinchuan offered nickel plate at 101,700 yuan/mt.As nickel futures traded rangebound earlier in the morning, traders made offers actively due to am...Read More
SHANGHAI, Mar 20 (SMM)? 1/4 ?Spot copper in the Shanghai market was offered at a discount of 220-190 yuan/mt on the morning of Tuesday March 20, SMM learned. This compared with discounts of 260-220 yuan/mt on the previous day's morning. 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...Read More