Turkish steel producers spent Thursday March 8 without making any deep-sea scrap transactions, but they are still expected to book more cargoes for April, according to market sources.The mills have booked a number of deep-sea cargoes this week, leading to an increase in the prices."Today, the scrap market was quiet, but Turkish mills need more...Read More
Comex copper prices softened to the lowest point since mid-February on Thursday March 8 amid ongoing uncertainty relating to US steel and aluminium tariffs. Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 5.20 cents or 1.7% to $3.0820 per lb. Earlier today, the contract touched $3.0795, the lowest since February 12. Questions over US trade policy and poss...Read More
Base metals traded on the London Metal Exchange are split into two camps this morning, Thursday March 8, with copper ($6,924 per tonne), nickel, zinc and tin prices all down by an average of 0.6%, while aluminium and lead prices are up by an average of 0.3%.Volume has been average with 7,370 lots traded as of 06.43am London time. This follows a day of weakness on Wednesday when prices were down by...Read More
China's hot-rolled coil prices continued to fall with purchasing interest thinning amid higher inventory levels.DomesticEastern China (Shanghai): 4,000-4,030 yuan ($632-637) per tonne, down by 40-50 yuan per tonneNorthern China (Tianjin): 3,940-3,960 yuan per tonne, down by 50 yuan per tonneFerrous futures plunged in the afternoon after an industry information provider released data showing an inc...Read More
China's ferrous futures, especially those of finished steel, remained weak during morning trading on Thursday March 8.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,858 ($610) per tonne, down 27 yuan per tonne May hot-rolled coil: 3,940 yuan per tonne, down 21 yuan per tonne Dalian Commodity Exchange May iron ore: 512.50 yuan per tonne, down 0.50 yuan per tonneMay...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
Turkish steel producers spent Thursday March 8 without making any deep-sea scrap transactions, but they are still expected to book more cargoes for April, according to market sources.The mills have booked a number of deep-sea cargoes this week, leading to an increase in the prices."Today, the scrap market was quiet, but Turkish mills need more...Read More
Iron ore prices tumbled to $73 per tonne cfr China on Thursday March 8 amid a weakening Chinese steel market.Metal Bulletin's 62% Fe Iron Ore Index Today: $73.23 per tonne cfr QingdaoDaily change: down by $2.61 per tonneMonth-to-date average: $76.65 per tonneMetal Bulletin's 58% Fe Premium Index Today: $59.28 per tonne cfr QingdaoDaily change: down by $1.05 per tonneMonth-to-date average: $60.78 p...Read More
Physical iron ore prices continued to drop on Thursday March 8 with the April swaps contract hitting the $70-per-tonne-cfr-China mark amid a weakening Chinese steel market.Key driversChina's ferrous futures tanked across the board for a second day, with the benchmark contracts falling 2.9-3.8% from the settlement levels a day earlier. The iron ore contract had the worst performance, ending just ab...Read More
Steel billet import prices and domestic rebar prices in Egypt increased in the week ended Thursday March 8, although demand was still only moderate.Metal Bulletin's weekly price assessment for Egyptian billet imports rose to $530-545 per tonne cfr on Thursday from $525-540 per tonne cfr previously.CIS-origin billet was on offer in Egypt...Read More
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