Domestic prices for hot-rolled coil (HRC) in the EU are expected to rise due to the lack of competitive import offers, sources told Metal Bulletin this week.The price rise is expected to be about ?,?10-20 per tonne and will be reflected in deals for coil from second-quarter rolling, according to market participants. EU mills were reported to be almost fully booked for first-quarter production of H...Read More
Domestic prices for rebar in Northern Europe have narrowed upward by ?,?10 per tonne week-on-week amid rising production costs and strong demand, sources told Metal Bulletin on Wednesday January 17.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was ?,?550-570 ($674-698) per tonne delivered on Wednesday, up from ?,?540-570 per tonne on January...Read More
Domestic European prices for steel beams increased again this week due to healthy demand from end-users and steep costs for producers, market sources told Metal Bulletin on Wednesday January 17.Metal Bulletin's price assessments for S235-grade, 200 x 200mm category-2 H-beams made in both Northern and Southern Europe moved up by ?,?5 per tonne to ?,?620-650 ($759-796) per tonne delivered on January...Read More
Domestic prices for steel wire rod rose by ?,?5-20 per tonne in Southern Europe this week because of higher ferrous scrap costs, sources told Metal Bulletin on Wednesday January 17.Meanwhile, Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Southern Europe narrowed upward to ?,?520-550 ($637-674) per tonne delivered on January 17, from ?,?515-530 per...Read More
The Turkish steel mills extended their silence in the deep-sea scrap markets on Wednesday January 17, because of tight supply in the US and high prices, according to market participants.The mills were expected to book more cargoes for February, but the weak demand for their finished goods was keeping them out of the market.Meanwhile, the heavy winter conditions along the US East Coast...Read More
Seaborne iron ore prices retreated on Wednesday January 17, as end-users took a cautious approach to procurement amid narrowing marginsMetal Bulletin's 62% Fe Iron Ore IndexToday: $74.51 per tonne cfr QingdaoDaily change: Down by $1.20 per tonneMonth-to-date average: $76.79 per tonneMetal Bulletin's 58% Fe Premium IndexToday: $61.47 per tonne...Read More
Prices for physical iron ore retreated further on Wednesday January 17 amid concerns of a weakening Chinese steel market, and along with them, margins.Key driversPrices for both seaborne iron ore and port materials declined, tracking the general downtrend in the paper market for most of the day, though the benchmark contract for iron ore picked up just before the close of the trading session.China...Read More
China's domestic rebar prices bounced back on Wednesday January 17 amid gains in the futures market.Domestic Eastern China (Shanghai): 3,740-3,800 yuan ($581-590) per tonne, up 30-40 yuan per tonne Northern China (Beijing): 3,770-3,800 yuan per tonne, up 20 yuan per tonne The benchmark May rebar futures contract traded at levels above Tuesday's settlement price of 3,814 yuan per tonne during most...Read More
Stainless steel prices are expected to weaken in Asia on lower demand during the first quarter of this year, while prices in Europe and North America are likely to continue to be supported by strong demand.Asia to see price dropAsian stainless steel prices are expected to drop in the January-March quarter amid soft demand.In the first quarter, China and some other major Asian stainless steel marke...Read More
Prices for domestic hollow sections remained largely stable across Europe this week, with market sources waiting for a clear direction in the price of hot-rolled coil (HRC).HRC prices were expected to rise across Europe after mills including ArcelorMittal announced a hefty increase to their first-quarter offer prices at the end of last year. But prices for the flat steel material have remained ste...Read More
The number of new passenger car sales in the EU decreased by 4.86% year-on-year in December 2017, following two consecutive months of growth.New EU car sales totaled 1,088,498 units in December 2017, compared with 1,144,098 vehicles in the corresponding month of 2016, the European Automotive Manufacturers Assn (ACEA) said...Read More
Japan's November steel demand dipped year on year in 2017, after coming under pressure from weaker consumption in the domestic building and construction industries, Japan Iron & Steel Federation (JISF) statistics showed this week.Steel demand in the building and construction sectors was down 12.2% to 948,000 tonnes, compared November 2016, and down 3.2% from 980,000 tonnes in October 2017.In Novem...Read More
Japan's November steel demand dipped year on year in 2017, after coming under pressure from weaker consumption in the domestic building and construction industries, Japan Iron & Steel Federation (JISF) statistics showed this week.Steel demand in the building and construction sectors was down 12.2% to 948,000 tonnes, compared November 2016, and down 3.2% from 980,000 tonnes in October 2017.In Novem...Read More
The EU's domestic prices for hot-dipped galvanized coil (HDG) were largely unchanged this week, but they are expected to rise in late January, sources have told Metal Bulletin.The price rise will be driven by positive trends in domestic hot-rolled coil (HRC) and cold-rolled coil (CRC) in the EU and limited imports.Metal Bulletin's weekly price assessment for domestic HDG in Southern Europe was ?,?...Read More
Domestic prices for rebar in Northern Europe have narrowed upward by ?,?10 per tonne week-on-week amid rising production costs and strong demand, sources told Metal Bulletin on Wednesday January 17.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was ?,?550-570 ($674-698) per tonne delivered on Wednesday, up from ?,?540-570 per tonne on January...Read More
Domestic European prices for steel beams increased again this week due to healthy demand from end-users and steep costs for producers, market sources told Metal Bulletin on Wednesday January 17.Metal Bulletin's price assessments for S235-grade, 200 x 200mm category-2 H-beams made in both Northern and Southern Europe moved up by ?,?5 per tonne to ?,?620-650 ($759-796) per tonne delivered on January...Read More
Domestic prices for steel wire rod rose by ?,?5-20 per tonne in Southern Europe this week because of higher ferrous scrap costs, sources told Metal Bulletin on Wednesday January 17.Meanwhile, Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Southern Europe narrowed upward to ?,?520-550 ($637-674) per tonne delivered on January 17, from ?,?515-530 per...Read More
The latest metal markets news and price moves to start the North American day on Wednesday January 17.Base metals prices on the London Metal Exchange were little changed during morning trading on Wednesday January 17, with prices looking to consolidate after Tuesday's sell off.The three-month aluminium price came under pressure yesterday, closing down 2%, but has edged $2 higher this morning.Here...Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Wednesday January 17.Base metals prices on the Shanghai Futures Exchange were in two camps during Asian morning trading on Wednesday, with zinc, lead and tin prices posting marginal gains, while the others pushed lower.Check Metal Bulletin's live futures report here. SHFE snapshot at 11.31...Read More
China has basically completed capacity cuts in the steel sector, said Shen Ying, general accountant of the State-owned Assets Supervision and Administration Commission (SASAC) on Wednesday January 17. Moving forward, China will push for a technology upgrade in the steel industry.In 2018, the country aims to further restructure the coal industry and reduce capacity by more than 10 mi...Read More