Turkish billet prices have continued to increase in line with rising imported scrap values, shortage of material and strong demand, sources said on Thursday March 8.Metal Bulletin's weekly price assessment for billet imports into Turkey on Thursday was $545-550 per tonne cfr, up from the $535-545 per tonne of last week.Suppliers in the CIS region have raised their offer prices to $550-560...Read More
China's domestic rebar prices tumbled further on Thursday March 8 amid weak demand. Domestic Eastern China (Shanghai): 3,830-3,900 yuan ($606-617) per tonne, down 80-90 yuan per tonneNorthern China (Beijing): 3,950-3,990 yuan per tonne, down 40-50 yuan per tonneDemand from the construction sector has shown very little recovery since the country's Chinese New Year break, and remained weak in recent...Read More
Stainless cold-rolled coil prices in East Asia widened over the past week with offers from China and Taiwan going in opposite directions, while those for stainless hot-rolled sheet narrowed on thin trading.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed CRC was $2,235-2,350 per tonne cif East Asian ports for the week ended Wednesday March 7, widening from $2,250-2,330...Read More
Prices for hollow steel sections in Europe are expected to rise because of the low availability of steel coil, market sources have told Metal Bulletin.The supply of hot-rolled coil (HRC) has reduced because mills are heavily booked and there has been a lack of workable import offers. These factors have put tube mills in a quandary when trying to secure...Read More
The Mexican government has imposed final anti-dumping duties on imports of welded tube from China, the country's economy secretariat said.The decision follows confirmation that Chinese products were entering the country at lower prices than domestic ones, resulting in significant dumping margins, it added on Thursday March 8.Goods shipped by Chinese exporter Huludao will...Read More
Major Japanese steel producer Nippon Steel & Sumitomo Metals Corp (NSSMC) expects the requirements for car-making materials to become more diverse and advanced as automotive producers try to make vehicles that are lighter, stronger and more environmentally friendly."Rapid innovations in information technology such as artificial intelligence, a shift to electric [power] and other new energy vehicle...Read More
The United States is expected to announce the official Section 232 import tariffs in the next five hours - keep up to date with all the 232-related news.To see...Read More
The Mexican government has imposed final anti-dumping duties on imports of welded tube from China, the country's economy secretariat said.The decision follows confirmation that Chinese products were entering the country at lower prices than domestic ones, resulting in significant dumping margins, it added on Thursday March 8.Goods shipped by Chinese exporter Huludao will...Read More
Prices for hollow steel sections in Europe are expected to rise because of the low availability of steel coil, market sources have told Metal Bulletin.The supply of hot-rolled coil (HRC) has reduced because mills are heavily booked and there has been a lack of workable import offers. These factors have put tube mills in a quandary when trying to secure...Read More
Offer prices from mills for European domestic steel beams rose slightly this week, helped by an uptick in scrap prices and more interest from customers, although buyers were less convinced about the health of the market, Metal Bulletin heard.Higher offer prices from mills widened Metal Bulletin's price assessment for S235-grade, 200x200mm category-2 H-beams made in Northern Europe upward by ?,?5 p...Read More
Aluminium's three-month price recovered above $2,100 per tonne at the 5pm close on Thursday March 8, with all eyes on the United States' expected tariff announcement. President Donald Trump is expected to announce the official Section 232 import tariffs after 8pm London time, which held the aluminium three-month price steady throughout the day. It closed $8 higher at $2,106 per tonne. Tin was the...Read More
Prices for long steel products are expected to increase across Europe in March with steel mills counting on a rise in consumption as the weather improves, market sources told Metal Bulletin this week. Cold and wintry weather conditions have restricted construction activity in Europe in recent weeks, thereby pushing down demand for long steel products. But weather and demand have both improved...Read More
SHANGHAI, Mar 8 (SMM) – Nonferrous metals fell across the board in the afternoon with SHFE nickel leading the loss with a 2% drop. Copper and zinc were down over 1%, aluminium slid almost 1%, and other metals edged down.The ferrous complex also saw a weak performance, with iron ore and rebar leading the slump and closing 4% lower. Coke and coking coal dropped over 3%, and hot-rolle...Read More
SHANGHAI, Mar 8 (SMM) – Nonferrous metals fell across the board in the afternoon with SHFE nickel leading the loss with a 2% drop. Copper and zinc were down over 1%, aluminium slid almost 1%, and other metals edged down.The ferrous complex also saw a weak performance, with iron ore and rebar leading the slump and closing 4% lower. Coke and coking coal dropped over 3%, and hot-rolle...Read More
SHANGHAI, Mar 8 (SMM) – Nonferrous metals fell across the board in the afternoon with SHFE nickel leading the loss with a 2% drop. Copper and zinc were down over 1%, aluminium slid almost 1%, and other metals edged down.The ferrous complex also saw a weak performance, with iron ore and rebar leading the slump and closing 4% lower. Coke and coking coal dropped over 3%, and hot-rolle...Read More
Metal Bulletin's London office brings you the latest news and pricing stories on Thursday March 8.The London Metal Exchange three-month copper price was over $100 per tonne lower in morning trading today, while nickel price dropped 2.8% from yesterday's 5pm close. A firmer dollar and geopolitical concerns over a potential trade war have led to the sustained weakness. Meanwhile, aluminium was...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. Index futures were virtually unchanged following release of Weekly Jobless Claims at 8:30 AM EST. Consensus was an increase to 220,000 from 210,000 last week. Actual was 231,000.The Canadian Dollar was virtually unchanged following release of Canada's February Housing Start report. Consen...Read More
SHANGHAI, Mar 8 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightThe base metals fell across the board as US dollar rebounded and as the trade war brews. SHFE aluminium and lead slid over 1%, copper dropped close to 1%, while LME lead lost over 2% and aluminium fell close to 2% to a three-month low.China's foreign-exchange reserves i...Read More
SHANGHAI, Mar 8 (SMM) – The copper spot market in Shanghai was less active on Thursday March 7 than a day earlier with the red metal trading at a discount of 130-70 yuan/mt. As the SHFE copper edged down today with resistance at the five-day moving average, spot prices faced pressure with reluctant buyers.At noon, higher-grade copper traded at 51,720-51,800 yuan/mt, SMM learned. Fo...Read More
SHANGHAI, Mar 8 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightThe base metals fell across the board as US dollar rebounded and as the trade war brews. SHFE aluminium and lead slid over 1%, copper dropped close to 1%, while LME lead lost over 2% and aluminium fell close to 2% to a three-month low.China's foreign-exchange reserves i...Read More