After a year focused on re-establishing stability, the London Metal Exchange has started 2018 with its attention on driving more liquidity to the bourse by launching the Introducing Broker membership category and broadening its contract portfolio, says senior metals market consultant Martin Hayes. Twelve months ago, it was fair to say that the LME was facing a period of uncertainty - it had lost i...Read More
Key data from the January 10 pricing session in Europe.Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeToday Previous Change to midpoint of range Midpoint % change 4.80-5.60 4.80-5.60 0 0 Titanium scrap turnings, unprocessed (max 0.5% Sn) $ per lb, cif European ports Titanium scrap turnings, unprocessed (0.5-2% Sn) $ per l...Read More
The Turkish deep-sea scrap market went quiet on Wednesday January 10, with the mills in the country trying to put downward pressure on prices.But while mills were trying to reduce scrap prices, suppliers remained firm because the heavy winter conditions increased their costs, sources said."The mills went quiet, waiting for a supplier who is in hurry to sell. Five or six Baltic Sea suppliers...Read More
The London Metal Exchange closed 2017 in positive fashion as average daily volume (ADV) climbed 19.3% after two previous months of decline. Lead was the strongest performer, with ADV climbing over 50% from December 2016 with 55,717 lots. Last month, lead was the only base metal to record a significant year-on-year increase. Copper's ADV was up 24.3% from the previous year to 150,723 lots, after it...Read More
After a year focused on re-establishing stability, the London Metal Exchange has started 2018 with its attention on driving more liquidity to the bourse by launching the Introducing Broker membership category and broadening its contract portfolio, says senior metals market consultant Martin Hayes. Twelve months ago, it was fair to say that the LME was facing a period of uncertainty - it had lost i...Read More
Domestic prices for heavy steel plate in Europe are expected to move upward on higher costs for slab and other raw materials, sources told Metal Bulletin on Wednesday January 10.In the meantime, however, prices have been largely unchanged this week with the market still slow after Christmas holidays.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Eu...Read More
European mills are expected to increase their domestic offer prices for cold-rolled coil (CRC), with supported from the lack of competitive import offers, sources told Metal Bulletin this week.Metal Bulletin's weekly price assessment for domestic CRC in Northern Europe was ?,?610-640 ($728-764) per tonne ex-works on Wednesday December 10, unchanged over the week.The assessment reflected "workable"...Read More
European mills are expected soon to increase their domestic offer prices for hot-rolled coil (HRC) by ?,?20-40 per tonne, sources have told Metal Bulletin.In the meantime, Metal Bulletin's weekly price assessment for domestic HRC in Northern Europe was ?,?540-550 ($645-657) per tonne ex-works on Wednesday January 10, compared with ?,?530-550 per tonne ex-works a week earlier.The assessment represe...Read More
Export volumes of steel products from China will stay low in 2018, which will raise demand for scrap in other Asian countries, the International Rebar Producers & Exporters Association (Irepas) said on Wednesday January 10."For the first quarter of 2018, we can expect steel exports from China to remain reduced, which will continue to drive local steel mill demand elsewhere," Irepas said."Many coun...Read More
Domestic prices for rebar in Southern Europe have narrowed upward over the past week, on higher scrap costs and the return of market participants from seasonal holidays, sources told Metal Bulletin on Wednesday January 10.Metal Bulletin's weekly domestic price assessment for Southern European rebar rose to ?,?520-530 ($621-633) per tonne delivered on Wednesday, from ?,?505-530 per tonne on January...Read More
Domestic prices for steel beams in Europe are predicted to increase over the coming weeks while demand levels and ferrous scrap prices stay firm, market sources told Metal Bulletin on Wednesday January 10.Domestic prices have been unchanged since the end of last year, with the material trading at historic high prices.Mills are hoping to raise prices even higher, however, and one Northern European...Read More
The Turkish deep-sea scrap market went quiet on Wednesday January 10, with the mills in the country trying to put downward pressure on prices.But while mills were trying to reduce scrap prices, suppliers remained firm because the heavy winter conditions increased their costs, sources said."The mills went quiet, waiting for a supplier who is in hurry to sell. Five or six Baltic Sea suppliers...Read More
Iron ore prices experienced a slight dip but managed to stay above $78 per tonne cfr China on Wednesday January 10 amid uncertainties resulting from a forecast cyclone in Australia.Metal Bulletin's 62% Fe Iron Ore Index Today: $78.31 per tonne cfr QingdaoDaily change: down by $0.16 per tonneMonth-to-date average: $76.79 per tonneMetal Bulletin's 58% Fe Premium Index Today: $62.71 per tonne cfr Qin...Read More
Seaborne iron ore prices retreated for the first time this year on Wednesday January 10 amid uncertainties over whether a forecast cyclone in Australia could result in supply disruptions.Key driversChina's ferrous futures retreated in the afternoon after trending upward in the morning. The benchmark iron ore contract ended slightly lower than a day earlier.A tender for a seaborne cargo of Pilbara...Read More
Purchasing activity in the Iranian export semi-finished steel market was delayed in the week ended Wednesday January 10 because customers wanted to wait and see the market trend become clearer after the year-end holidays.Metal Bulletin's newly launched weekly assessment of the Iranian export billet price was $510-520 per tonne fob on January 10.Esfahan Steel, the country's sole blast oxygen furnac...Read More
China's domestic prices for rebar held steady on Wednesday January 10 on weak demand despite gains in the futures market. Domestic Eastern China (Shanghai): 3,830-3,920 yuan ($587-601) per tonne, unchanged Northern China (Beijing): 3,870-3,900 yuan per tonne, unchanged Low temperatures in Shanghai and Beijing resulted in inactivity in the markets.As such, sellers were unable to raise prices even t...Read More
Key data from the January 10 pricing session in Europe.Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeToday Previous Change to midpoint of range Midpoint % change 4.80-5.60 4.80-5.60 0 0 Titanium scrap turnings, unprocessed (max 0.5% Sn) $ per lb, cif European ports Titanium scrap turnings, unprocessed (0.5-2% Sn) $ per l...Read More
Prices for hollow steel sections in Southern Europe have increased this week, with producers in the region responding to firm demand, market sources told Metal Bulletin on Wednesday January 10.Metal Bulletin's price assessment for S235-grade square hollow steel sections made in Southern Europe moved up by ?,?15-20 per tonne to ?,?620-645 ($740-770) per tonne delivered on Wednesday.Prices for simil...Read More
Turkey's structural pipe export prices have continued to rise in line with increasing costs for hot-rolled coil (HRC), sources said on Wednesday January 10.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $670-680 per tonne fob on January 10, up from $640-650 per tonne in December.Turkish pipemakers were offering material at around...Read More
The Turkish Steel Exporters' Assn (??IB) believes that the removal of import duty on rebar is a significant blow for the domestic Turkish steel industry, the association said on Wednesday January 10.Turkey's ministry of economy removed the country's import duty on rebar on Monday January 1.The ??IB does not expect the removal of the duty to result in a fall in steel prices in 2018, however. Rather...Read More