Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday June 15.Base metals prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Friday June 15, pressured by a strengthening US dollar.Check Metal Bulletin's live futures report here. LME snapshot at 03:23 London time Latest 3M LME Prices Price ($/t...Read More
Turkish scrap import prices recovered in the week ended Friday June 15 on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.East Coast fob prices in the US were up due to the Turkish demand. Taiwan import prices rose similarly, wi...Read More
Turkish scrap import prices edged up slightly on Friday June 15, when two deep-sea cargoes came to light that had been booked earlier.No new deals were heard on June 15 with Turkey celebrating the Eid Al-Fitr holiday to mark the end of the Islamic holy month of Ramadan, but two deep-sea cargoes had been heard late on Thursday after...Read More
Prices for containerized shredded scrap imports into India remained flat this week with market activity experiencing a lull, market sources told Metal Bulletin on Friday June 15.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was flat at $379.96 per tonne cfr Nhava Sheva on June 15, almost unchanged from $379.94 per tonne on June 8.Offers for shredded material...Read More
Domestic prices for ferrous scrap in Italy have moved down by ?,?5-10 per tonne so far in June, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade E3 scrap in Italy was ?,?280-300 ($328-351) per tonne delivered on Friday June 15, compared with ?,?285-305 per tonne delivered a month earlier.The decrease was mainly driven by negative sentiment on finished steel....Read More
The United States import pig iron market has improved this week on rising scrap prices and the continued uptrend in the finished steel products markets - hot-rolled coil, in particular.No new bookings have been heard since late May, however, because steel mills have not started to restock yet.Metal Bulletin's weekly price assessment for US pig iron imports increased to $410-415 per tonne cfr on Fr...Read More
Deliverable zinc stocks at Shanghai Futures Exchange (SHFE)-approved warehouses rose by 6,841 tonnes or 7.6% to 96,957 tonnes as of Friday June 15 from a week earlier.The biggest inflow this week was into SIPG Logistics sheds at 5,439 tonnes of the metal.Sluggish consumption triggered the second consecutive weekly rise in zinc stocks."Supply from zinc refineries is OK but downstream consumers' buy...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Traders are responding to President Trump's approval of $50 billion in tariffs on Chinese goodsToday is Quadruple Witching Day on U.S. markets, the last trade date for June index and equity futures and options.Index futures were virtually unchanged following release of the June Empire S...Read More
Three-month base metals prices on the London Metal Exchange were for the most part lower on the morning of Friday June 15, led by a 0.6% fall in zinc prices to $3,161 per tonne.While nickel gained 0.3%, the rest are off between 0.1% and 0.2%. Copper prices were recently quoted at $7,153 per tonne.Volumes have been average with 5,356 lots traded as of 0707 London time. This follows a day of we...Read More
China's domestic hot-rolled coil prices were largely flat on Friday June 15, with traders and buyers in wait-and-see mode before the country's upcoming three-day public holiday.DomesticEastern China (Shanghai): 4,310-4,320 yuan ($674-675) per tonne, narrowed by 10 yuan per tonne at both ends of the range.Northern China (Tianjin): 4,240-4,250 yuan per tonne, narrowed down by 10 yuan per t...Read More
Base metals prices on the London Metal Exchange were mostly lower again during morning trading on Friday June 15, despite nickel recouping some of its losses.Base metals prices on the London Metal Exchange were mostly lower again during morning trading on Friday June 15, despite nickel recouping some of its losses.After falling over $300 per tonne on Thursday, nickel is the only base metal to be t...Read More
Base metals prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Friday June 15, pressured by a strengthening US dollar.The US dollar index stood at 94.95 on Thursday' close, up 0.13% from Wednesday's close, supported by the US Federal Open Market Committee announcement of a 25-basis-point-rise in interest rates at its meeting on Wednesday and hintin...Read More
China's ferrous futures were mixed in the morning trading session on Friday June 15, with coke futures up, HRC futures down, and those of rebar, iron ore and coking coal largely flat. Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,877 yuan ($606) per tonne, down 2 yuan per tonne October hot-rolled coil: 3,954 yuan per tonne, down 13 yuan per tonne Dalian Commod...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday June 15:Minor metals Antimony MB free market regulus, $/tonne: $8,050-8,300 per tonne from $8,150-8,400 Antimony MMTA standard grade II, $/tonne: $8,000-8,250 per tonne from $8,100-8,350 Cobalt MB free market high grade, $/lb: $40.60-41.75 per lb from $41.00-42.15 Cobalt MB free market low...Read More
European base prices for flat and long stainless steel products were unchanged this week amid generally balanced and stable market conditions, sources told Metal Bulletin on Friday June 15.Demand is healthy, both domestically and for export, with one distributor noting particularly high interest from the UK and Eastern Europe, although buying from Turkey has slowed, possibly as a result of the wea...Read More
China's domestic stainless steel prices moved down over the past week on decreased demand.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,500-15,900 yuan ($2,422-2,485) per tonne including VAT for the week ended Thursday June 14, down 200-300 yuan per tonne from a week earlier. Environmental inspections resulted in the supp...Read More
All MB non-ferrous European scrap prices were unchanged on Friday June 15.Read More
China's metal processing and mining equipment sectors will be counting the cost of new tariffs announced on Friday June 15 by United States Trade Representative (USTR) Robert Lighthizer.They involve $50 billion worth of Chinese exports being hit by 25% duties, additional to duties already applied. They will cover China-made exports of a wide range of metal-making and mining machinery, and a s...Read More
China's metal processing and mining equipment sectors will be counting the cost of new tariffs announced on Friday June 15 by United States Trade Representative (USTR) Robert Lighthizer.They involve $50 billion worth of Chinese exports being hit by 25% duties, additional to duties already applied. They will cover China-made exports of a wide range of metal-making and mining machinery, and a s...Read More