Physical iron ore prices were rangebound on Tuesday September 11 amid rumors, and subsequent denials, that China would be easing the production restrictions currently imposed on steelmakers. Metal Bulletin 62% Fe Iron Ore Index: $67.67 per tonne cfr Qingdao, down by $0.14 per tonne. Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.70 per tonne cfr Qingdao, down by $0.14 per tonne. Metal Bullet...Read More
China's ferrous futures were mixed during morning trading on Tuesday September 11, with the rebar and coke contracts ending lower while those for hot-rolled coil and coking coal edged up.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,160 yuan ($606) per tonne, down 16 yuan per tonneJanuary hot-rolled coil: 4,051 yuan per tonne, up 4 yuan per tonneDalian Commodi...Read More
Steel slab prices are likely to continue to fall through the rest of September due to the increasing availability of the semi-finished product from major exporter sources in Brazil and the Commonwealth of Independent States (CIS).Currency weaknesses and slow downstream sales will meanwhile help to keep demand muted, Metal Bulletin was told on Tuesday September 11.AsiaSoutheast Asia and East Asia's...Read More
Export billet prices from the CIS region remained unchanged on Tuesday September 11, with few deals done on the day as end users shunned higher offers.Metal Bulletin's daily CIS export billet index was $482 per tonne fob Black Sea, unchanged from Monday.A cargo of Ukraine-origin billet was heard sold to a trader at $472-475 per tonne fob Azov Sea on pre-payment...Read More
China's domestic rebar market lost its upward momentum on Tuesday September 11 after futures plunged.Domestic Eastern China (Shanghai): 4,530-4,560 yuan ($660-665) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 4,380-4,410 yuan per tonne, down 20 yuan per tonneOn Tuesday, word had circulated in the market that the Chinese Ministry of Ecology & Environment would either not implement...Read More
Manganese ores prices edged higher in the week ended Friday September 7 amid tighter availability of certain grades of ore and a stronger demand outlook due to expected alloy capacity increases in the current quarter. Ore prices edge higher on lower availability of 37% material Chinese silico-manganese price pulls back from eight-month highIndian silico-manganese prices edge higher European silic...Read More
European ferro-vanadium and vanadium pentoxide prices surged to fresh 10-year and 13-year highs respectively amid thin supply availability and increased activity levels in the week ended Friday September 7, while the Chinese export market firmed despite limited buying interest. Chinese export prices bolstered by strength in domestic market European FeV prices surge to fresh 10 year-high amid retu...Read More
Brazilian automotive production increased by 11.70% year on year in August due to higher domestic sales, according to local automotive association Anfavea. Vehicle output amounted to 291,400 units last month, compared with 260,800 units in August 2017, Anfavea said on Thursday September 6. "August's performance was a positive surprise amid the uncertainty about Brazilian elections, the loss of val...Read More
Import prices for steel slab in Southeast Asia and East Asia fell over the past week due to lower offers amid an increase in supply, although few deals were reported with re-rollers generally still struggling with weakening currencies and slow sales for finished steel.Metal Bulletin's assessment of import prices for slab in Southeast Asia and East Asia was $520-535 per tonne cfr for the week ended...Read More
The US Department of Commerce has revised two steps in the process of requesting exclusions from the Section 232 tariffs and quotas on steel and aluminium imports into the United States.These changes - which went into effect on Tuesday September 11 - make room for potential rebuttals and "surrebuttals" to Section 232 product exclusion requests."The department understands the importance o...Read More
Physical iron ore prices were rangebound on Tuesday September 11 amid rumors, and subsequent denials, that China would be easing the production restrictions currently imposed on steelmakers. Metal Bulletin 62% Fe Iron Ore Index: $67.67 per tonne cfr Qingdao, down by $0.14 per tonne. Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.70 per tonne cfr Qingdao, down by $0.14 per tonne. Metal Bullet...Read More
International currency sell-offs are keeping the steel and ferrous scrap markets on edge, with the weak performances of banknotes of major emerging markets dampening import prices across Asia.Apart from the Turkish lira, which has depreciated by more than 40% this year in the aftermath of President Recep Tayyip Erdogan's quibble with the United States, the Russian rouble has also started to weaken...Read More
The US Department of Commerce has revised two steps in the process of requesting exclusions from the Section 232 tariffs and quotas on steel and aluminium imports into the United States.These changes - which went into effect on Tuesday September 11 - make room for potential rebuttals and "surrebuttals" to Section 232 product exclusion requests."The department understands the importance o...Read More
A summary of base metals premiums from across the globe for the week to Tuesday September 11.Please click...Read More
The prices of base metals on the London Metal Exchange were mostly lower at the close of trading on Tuesday September 11, pressured by China's retaliatory pledge of approximately $7 billion of sanctions against the US amid an escalating trade rift.Falling 2.4% over the afternoon, three-month aluminium prices fell to an intraday low of $2,044 per tonne after making an approach back toward $2,100 pe...Read More
Steel slab prices are likely to continue to fall through the rest of September due to the increasing availability of the semi-finished product from major exporter sources in Brazil and the Commonwealth of Independent States (CIS).Currency weaknesses and slow downstream sales will meanwhile help to keep demand muted, Metal Bulletin was told on Tuesday September 11.AsiaSoutheast Asia and East Asia's...Read More
The latest metal markets news and price moves to start the North American day on Tuesday September 11.Copper prices on the London Metal Exchange were higher during morning trading on Tuesday September 11, firming back toward $6,000 per tonne, while zinc and lead prices struggled for similar momentum.Meanwhile, a forecast of the US tariffs on certain minor metal imports from China unveiled that wil...Read More
Good morning from Metal Bulletin's offices in Asia, as we bring you the latest news and pricing stories on Tuesday September 11. Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday, after the reality of escalating trade tensions between China and United States began to stifle the positive sentiment brought by strong Chinese data released early thi...Read More
Despite the recovery in international cobalt prices, Chinese market participants are not confident of an immediate subsequent pick-up in Chinese cobalt sulfate prices due to persistent tight credit lines making it difficult for cobalt companies to access cash. Weak demand had been a key driver of plummeting Chinese cobalt prices in the past few months. Although many market participants indicated c...Read More
International currency sell-offs are keeping the steel and ferrous scrap markets on edge, with the weak performances of banknotes of major emerging markets dampening import prices across Asia.Apart from the Turkish lira, which has depreciated by more than 40% this year in the aftermath of President Recep Tayyip Erdogan's quibble with the United States, the Russian rouble has also started to weaken...Read More