Metal Bulletin is proposing to discontinue its weekly price assessments for Iranian imports of hot-rolled coil (HRC) and cold-rolled coil (CRC).The proposal follows a significant drop in import volumes of flat steel products into the country during the current Iranian year, which began on March 21, 2018.Over the first three months of this period (March 21-June 21), HRC import volumes dropped by 71...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia decreased this week, with demand still weak, sources told Metal Bulletin on Tuesday July 31. Demand is weak in both national markets because of the seasonal summer slowdown, with buyers booking only small quantities. And no improvement is expected before late August. The Islamic Hajj and Eid al Adha religious celebrations w...Read More
China's domestic hot-rolled coil prices widened upward on Tuesday July 31 amid continual production cuts, while export prices weakened slightly with a segment of the market bidding lower.DomesticEastern China (Shanghai): 4,290-4,310 yuan ($629-632) per tonne, widening upward 10 yuan per tonneNorthern China (Tianjin): 4,220-4,240 yuan per tonne, widening upward 10 yuan per tonneDomestic prices rema...Read More
Earnings at Novolipetsk Steel (NLMK), Russia's largest steelmaker, soared by 52% year-on-year in the second quarter of 2018 on better prices and increased sales volumes, the company said in a financial report on Tuesday July 31.In April-June, NLMK's earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $915 million, against $603 million in the corresponding period last ye...Read More
UK long steel producer British Steel has announced that it intends to increase the price of its structural sections by ?30 ($39) per tonne with effect from deliveries from August 1."Due to continued strong demand and low stocks in the supply chain, we're increasing the prices of our structural sections," Richard Farnsworth, British Steel's managing director for construction materials, said."UK de...Read More
As a result of a technical error, iron ore prices for July 31 were published on the Metal Bulletin price book later than scheduled. Metal Bulletin's price book has been updated and the affected prices are showing as normal. To provide feedback on delayed publication for the iron ore indices, please contact Deepali Sharma by email at: peter.hannah@metalbulletin.com. Please add the subject heading '...Read More
Seaborne iron ore fines traded at higher prices on Tuesday July 31 while a lump cargo changed hands at a weaker price, Metal Bulletin was told.Metal Bulletin 62% Fe Iron Ore Index: $68.19 per tonne cfr Qingdao, up by $0.54 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $67.17 per tonne cfr Qingdao, up by $0.59 per tonne.Metal Bulletin 58% Fe Premium Index: $55.21 per tonne cfr Qingdao,...Read More
Global direct-reduced iron (DRI) output increased 27.15% year on year in June 2018, according to new statistics published by the World Steel Association (Worldsteel) late last week.Total output was 7.31 million tonnes in June 2018 compared with 5.75 million tonnes a year previously, an increase of 1.56 million tonnes.Production was down on a monthly basis, with May figures 160,000 tonnes...Read More
Prices for domestic and imported rebar in the United Arab Emirates decreased on Tuesday July 31, with demand limited for seasonal reasons, sources told Metal Bulletin.Domestic rebar producers announced reduced prices last week, while import prices for rebar also fell.Domestic rebarThe biggest steel producer in the country, Emirates Steel, is offering rebar at 2,178 dirhams ($593) per tonne ex-work...Read More
China's domestic rebar prices moved up further on Tuesday July 31 following gains in the futures market. Domestic Eastern China (Shanghai): 4,180-4,220 yuan ($613-619) per tonne, up 20-30 yuan per tonne Northern China (Beijing): 4,080-4,120 yuan per tonne, up 20 yuan per tonne The number of Chinese cities that will implement production cuts during the winter heating season between late 2018 and ea...Read More
Import prices for steel billet in Southeast Asia and slab in the wider region including East Asia were flat over the past week amid a lack of transactions, with supply tightening while demand remained weak. BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $540-550 per tonne cfr for the week ended Monday July 30, the same as a week earlier.No deals involving 100-1...Read More
Prices for low-grade and high-grade manganese ore continued to diverge over the past week, with those for lower-grade material falling while quotations for higher-grade ore rose on the back of last-minute trades concluded at higher prices. Low grade ore prices slide while higher grade rises Chinese silico-manganese prices strengthen Indian silico-manganese prices dip at low end ...Read More
Tungsten prices retreated in the week to Friday July 27 after ammonium paratungstate supply from China resumed following the end of environmental-related suspensions in Jiangxi. Metal Bulletin assessed prices for ammonium paratungstate (APT) in the European free market at $323-330 per metric tonne unit, cif Rotterdam, on Friday, down from $333-341 per mtu the previous week. Prices had peaked...Read More
China's steel futures strengthened during morning trading on Tuesday July 31 following the release of monthly spot market inventory data showing a sustained decrease for Chinese rebar, while the raw materials contracts declined during the session.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 4,171 yuan ($612) per tonne, up 35 yuan per tonneOctober hot-rolled coil...Read More
Prices for domestic and imported rebar in the United Arab Emirates decreased on Tuesday July 31, with demand limited for seasonal reasons, sources told Metal Bulletin.Domestic rebar producers announced reduced prices last week, while import prices for rebar also fell.Domestic rebarThe biggest steel producer in the country, Emirates Steel, is offering rebar at 2,178 dirhams ($593) per tonne ex-work...Read More
A crackdown on the quantities of waste included with scrap material imported into China has created a global glut in scrap supply, pushing down achieved prices in the European ferrous and non-ferrous markets.China submitted a document to the World Trade Organization in July last year informing the group that it would no longer take in any "foreign garbage" alongside commodities, including such as...Read More
Metal Bulletin is proposing to discontinue its weekly price assessments for Iranian imports of hot-rolled coil (HRC) and cold-rolled coil (CRC).The proposal follows a significant drop in import volumes of flat steel products into the country during the current Iranian year, which began on March 21, 2018.Over the first three months of this period (March 21-June 21), HRC import volumes dropped by 71...Read More
Base metals on the London Metal Exchange moved higher at the close of trading on Tuesday July 31, supported by easing trade relations between the United States and China amid broad stock drawdowns and a seasonal summer slowdown. Both copper and nickel prices broke past nearby resistance levels in the afternoon rally, with aluminium the only metal to trade in negative territory. Edging back ab...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia decreased this week, with demand still weak, sources told Metal Bulletin on Tuesday July 31. Demand is weak in both national markets because of the seasonal summer slowdown, with buyers booking only small quantities. And no improvement is expected before late August. The Islamic Hajj and Eid al Adha religious celebrations w...Read More
Prices for domestic and imported rebar in the United Arab Emirates decreased on Tuesday July 31, with demand limited for seasonal reasons, sources told Metal Bulletin.Domestic rebar producers announced reduced prices last week, while import prices for rebar also fell.Domestic rebarThe biggest steel producer in the country, Emirates Steel, is offering rebar at 2,178 dirhams ($593) per tonne ex-work...Read More