Turkish steel producers have resumed their deep-sea purchases of scrap for delivery in August following a downturn in prices, sources said on Tuesday July 10.Four deep-sea cargoes were heard traded on Tuesday, three of which were sold out of the United States, Metal Bulletin was told.A steel mill in the Izmir region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $348 per tonne,...Read More
The physical iron ore market stayed rangebound while steel prices rose on Tuesday July 10 amid more concerns over potential restrictions on blast furnaces in China's steelmaking hub.Metal Bulletin 62% Fe Iron Ore Index: $63.91 per tonne cfr Qingdao, down $0.01 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.82 per tonne cfr Qingdao, up $0.21 per tonneMetal Bulletin 58% Fe Premium Ind...Read More
China's domestic rebar prices experienced a sharp rebound on Tuesday July 10 amid anticipation of production cuts in the country's steelmaking hub of Tangshan in the northern region.Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($604-612) per tonne, up 60-70 yuan per tonne Northern China (Beijing): 3,940-3,990 yuan per tonne, up 70-80 yuan per tonne A document is being spread around in the s...Read More
Global ferro-vanadium and vanadium pentoxide (V2O5) prices experienced considerable gains over the past week, taking their cue from strength in the Chinese domestic market. Chinese ferro-vanadium, V2O5 export prices rise in response to strength in domestic market European ferro-vanadium prices strengthen in line with Chinese market European V2O5 prices surge on supply concerns US FeV market conti...Read More
Import prices for steel billet in Southeast Asia were unchanged over the past week amid subdued demand, while those for slab in the wider region edged up ahead of an impending supply drop.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $540-550 per tonne cfr for the week ended Monday July 9, the same as a week earlier.Few bookings were reported over the past wee...Read More
Brazilian domestic prices for hot-rolled coil (HRC) and hot-dipped galvanized coil (HDG) have increased only marginally in July, with local producers struggling to apply previously announced price increases.Flat steel companies in the country have been trying to raise prices since early June, but strong competition is getting in the way of the adjustment."The market got messy [and] each client is...Read More
The global pig iron market was quiet in June with purchasing activity being low in the United States, where buyers booked large volumes in May."When the largest consumer postpones bookings, it brings uncertainty to the market," one trader told Metal Bulletin. "Everyone waits until the trend-setter shows where the market will turn."United StatesBuyers in the US consume more than 50% of the pig iron...Read More
Comex copper prices slipped in morning trading on Tuesday July 10, with the threat of further tit-for-tat tariffs between the United States and China exacerbating concerns about demand for metals.Copper for September settlement on the Comex division of the New York Mercantile Exchange fell 1.3 cents or 0.5% to trade recently at $2.8370 per lb. Continued uncertainty surrounding trade relations...Read More
Turkish steel producers have resumed their deep-sea purchases of scrap for delivery in August following a downturn in prices, sources said on Tuesday July 10.Four deep-sea cargoes were heard traded on Tuesday, three of which were sold out of the United States, Metal Bulletin was told.A steel mill in the Izmir region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $348 per tonne,...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday July 10.Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday, with most of the complex oscillating either side of unchanged, while zinc was the early session's weakest performer with a drop of 1.7%.Check Metal Bulletin's live futures re...Read More
Comex copper prices slipped in morning trading on Tuesday July 10, with the threat of further tit-for-tat tariffs between the United States and China exacerbating concerns about demand for metals.Copper for September settlement on the Comex division of the New York Mercantile Exchange fell 1.3 cents or 0.5% to trade recently at $2.8370 per lb. Continued uncertainty surrounding trade relations...Read More
The physical iron ore market stayed rangebound while steel prices rose on Tuesday July 10 amid more concerns over potential restrictions on blast furnaces in China's steelmaking hub.Metal Bulletin 62% Fe Iron Ore Index: $63.91 per tonne cfr Qingdao, down $0.01 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.82 per tonne cfr Qingdao, up $0.21 per tonneMetal Bulletin 58% Fe Premium Ind...Read More
The seaborne coking coal market remained enveloped in bearish sentiment on Tuesday July 10 despite transactions concluded at higher levels a day earlier. "Those trades were clearly tailor-made and not repeatable," an ex-China trader source said, referring to the transactions on Monday.A second such source questioned the "sustainability of the high prices in the ex-China market" because the "Chines...Read More
Import prices for some flat steel products in the United Arab Emirates and Saudi Arabia decreased this week because of lower offer and deal prices, sources told Metal Bulletin on Tuesday July 10.There is a liquidity shortage among some contractors, who are not receiving payments on time, sources said, while the seasonal slowdown continues.UAEMetal Bulletin's weekly price assessment for UAE imports...Read More
The physical iron ore market stayed rangebound while steel prices rose on Tuesday July 10 amid more concerns over potential restrictions on blast furnaces in China's steelmaking hub.Metal Bulletin 62% Fe Iron Ore Index: $63.91 per tonne cfr Qingdao, down $0.01 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.82 per tonne cfr Qingdao, up $0.21 per tonneMetal Bulletin 58% Fe Premium Ind...Read More
The US Midwest aluminium premium has slid for the fourth week in a row, due to the backwardation curve in London Metal Exchange prices causing many sellers to part with material at a discount, although buyers generally remained uninterested in buying spot. American Metal Market's latest assessment of the P1020 spot aluminium premium dropped to 19.75-20.5 cents per lb on Tuesday July 10,&...Read More
A summary of base metals premiums from across the globe for the week to Tuesday July 10Read More
Base metals on the London Metal Exchange ended predominantly lower on Tuesday July 10 amid mounting trade tensions.After a small rebound at the close of trading yesterday, zinc prices fell 2.8% today while struggling against a tight fundamental backdrop. Zinc has fallen more than 17% in a month and is down nearly $1,000 per tonne from the 2018 high of $3,582 per tonne reached on February 15. "We e...Read More
Intek Group has announced that its copper producer subsidiary KME has reached an agreement to take over Germany's Mansfelder Kupfer und Messing (MKM), another major participant in the European copper industry.Italy-based copper group Intek released a statement on Friday July 6 announcing that its fully controlled subsidiary KME had reached an agreement for the acquisition of 100% of the indirect i...Read More
Mark Homer has returned to Gerald Metals as an exclusive consultant to the refined copper trading department, with a particular focus on Africa and the Middle East, Metal Bulletin has learned. Homer, who previously worked at Gerald Metals from August 1992 to June 2003 and was most recently at Cliveden Trading,...Read More