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
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
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
SHANGHAI, Jan 17 (SMM)? 1/4 ?SHFE lead stood out from the performance of other nonferrous metals on Wednesday afternoon, with a 0.6% rise. Nickel was down 2% and copper was down almost 2%. Aluminium dipped 1.8%. Zinc and tin also slid slightly.The ferrous complex also dipped. Coking coal fell 2% despite a slight rise of rebar. Coke and iron ore dipped almost 1% and hot-rolled coil slight...Read More
SHANGHAI, Jan 17 (SMM)? 1/4 ?SHFE lead stood out from the performance of other nonferrous metals on Wednesday afternoon, with a 0.6% rise. Nickel was down 2% and copper was down almost 2%. Aluminium dipped 1.8%. Zinc and tin also slid slightly.The ferrous complex also dipped. Coking coal fell 2% despite a slight rise of rebar. Coke and iron ore dipped almost 1% and hot-rolled coil slight...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. The Canadian Dollar was quiet at US80.38 cents prior to the Bank of Canada's announcement on its overnight lending rate at 10:00 AM EST. Consensus is that rate will be increased by 0.25% to 1.25%.Frequency in release of fourth quarter reports accelerated. Companies that reported since yes...Read More
SHANGHAI, Jan 17 (SMM)? 1/4 ?SHFE lead stood out from the performance of other nonferrous metals on Wednesday afternoon, with a 0.6% rise. Nickel was down 2% and copper was down almost 2%. Aluminium dipped 1.8%. Zinc and tin also slid slightly.The ferrous complex also dipped. Coking coal fell 2% despite a slight rise of rebar. Coke and iron ore dipped almost 1% and hot-rolled coil slight...Read More
SHANGHAI, Jan 17 (SMM) – The LME nickel price is forecast to remain above $12,000/mt before mid-March and the SHFE nickel is set to remain over 93,000 yuan/mt, SMM believes.This is because we see little growth in the supply of primary nickel, which includes refined nickel, nickel pig iron (NPI) and other nickel smelting products, despite an increase in Indonesian nickel ore exports...Read More
Huge key reversal yesterday by U.S. equity market! The Dow Jones Industrial Average initially surged to over 26,000, but weakened through most of the day to close at a small loss. The VIX Index spiked.Technical action by S&P 500 stocks was relatively quiet given their volatility. Three stocks broke intermediate resistance (PDCO, UNH, ADP) and four stocks broke intermediate support (MAC, VNO, S...Read More
SHANGHAI, Jan 17 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,030-7,230/mt while the SHFE 1803 contract is to trade at 53,450-54,600 yuan/mt. On the spot market, the discounts are expected to move at 160-120 yuan/mt.Aluminium: LME aluminium is expected to trade at $2,180-2,200/mt with support at the 20-day moving average while SHFE aluminium is expected to trade at 14,500-14,750...Read More