Turkish scrap import prices have continued to increase on Thursday June 14, with the mills remaining active in the deep-sea scrap markets.A steel mill in the Iskenderun region booked a European cargo, comprising 18,000 tonnes of HMS 1&2 (75:25) at $343.50 per tonne and 12,000 tonnes of bonus at $364 per tonne cfr.Following...Read More
Key data from the Wednesday June 13 pricing session in Europe.Key drivers - Ferro-titanium prices have edged lower but steady demand should persist in the near term and keep prices in, or close to, the current range, sources said. - A tender for three truckloads of ferro-titanium from Swedish steelmaker SSAB has been settled at well below $5 per kg, according to...Read More
Comex copper prices failed to hold momentum on Thursday morning in the US, with the Federal Reserve's decision to increase interest rates spurring a dollar rally and sinking the base metals group.Copper for July settlement on the Comex division of the New York Mercantile Exchange declined 2 cents or 0.6% to $3.2340 per lb. Yesterday, the US Federal Open Market Committee raised interest rates...Read More
Disappointing Chinese economic data suggests there is little to be bullish about and therefore it is unsurprising that the three-month base metals prices on the London Metal Exchange were down across the board by an average of 0.7% on the morning of Thursday June 14.Nickel led on the downside with a 1.9% drop to $15,355 per tonne, while the rest were down between 0.4% and 0.5%, with copper down by...Read More
China's domestic hot-rolled coil prices halted their recent rises on Thursday June 14 amid weaker demand. Domestic Eastern China (Shanghai): 4,300-4,330 yuan ($671-676) per tonne, widened down 10 yuan per tonne Northern China (Tianjin): 4,240-4,260 yuan per tonne, unchanged HRC prices were flat or down slightly in the domestic Chinese market today despite a continued rally in the futures...Read More
China's coke futures surged ahead during morning trading on Thursday June 14, while finished steel and iron ore contracts saw only minimal fluctuations.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,885 yuan ($607) per tonne, up 3 yuan per tonne October hot-rolled coil: 3,971 yuan per tonne, down 2 yuan per tonne Dalian Commodity Exchange September iron ore: 473...Read More
Turkish domestic rebar prices have gone down slightly on US dollar basis due to weakening Turkish lira, sources said on Thursday June 14.Metal Bulletin's weekly price assessment for Turkish domestic rebar was $540-550 per tonne ex-works on June 14, narrowing down on the top-end of the range from $540-555 per tonne assessed on June 7...Read More
Imported steel billet prices in Egypt rose this week but domestic rebar prices were unchanged, sources told Metal Bulletin on Thursday June 14.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on June 14 was steady week-on-week at E ?12,525-12,528 ($700) per tonne ex-works.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 per tonne...Read More
Price negotiations for pig iron exports from the Commonwealth of Independent States have begun again after a silence lasting from late May, although no new bookings from the key outlets of the United States and Italy have yet been heard.The US pig iron market, the largest consumer of the raw material in the world, has improved because of the higher prices for scrap and finished steel products in t...Read More
Turkish scrap import prices have continued to increase on Thursday June 14, with the mills remaining active in the deep-sea scrap markets.A steel mill in the Iskenderun region booked a European cargo, comprising 18,000 tonnes of HMS 1&2 (75:25) at $343.50 per tonne and 12,000 tonnes of bonus at $364 per tonne cfr.Following...Read More
Additional pollution-trimming measures in China lent support to growing demand for iron ore lump and pellets on Thursday June 14.Metal Bulletin 62% Fe Iron Ore Index: $68.49 per tonne cfr Qingdao, up by $1.47 per tonneMetal Bulletin 58% Fe Premium Index: $54.19 per tonne cfr Qingdao, unchangedMetal Bulletin 65% Fe Iron Ore Index: $89 per tonne cfr Qingdao, up by $0.50 per tonneMetal Bulletin 62% F...Read More
Turkish billet prices have continued to increase over the past week, in line with the rising cost of steel scrap, sources said on Thursday June 14.Suppliers in the CIS region were trying to increase their offer prices following the uptick in deep-sea scrap import prices into Turkey.Steel mills in the CIS region were heard offering billet at around $530-535 per tonne...Read More
Imported steel billet prices in Egypt rose this week but domestic rebar prices were unchanged, sources told Metal Bulletin on Thursday June 14.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on June 14 was steady week-on-week at E ?12,525-12,528 ($700) per tonne ex-works.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 per tonne...Read More
China's domestic rebar prices kept their upward trend intact on Thursday June 14 as spot market stocks declined. Domestic Eastern China (Shanghai): 4,140-4,180 yuan ($646-653) per tonne, up 30-40 yuan per tonne Northern China (Beijing)): 3,950-3,980 yuan per tonne, up 20-30 yuan per tonne The inventory of rebar in major domestic Chinese markets continued to decline over the past week due...Read More
European spot prices for molybdic oxide have decreased so far this week on lower deals done in Europe and in Asia, with ferro-molybdenum tracking the move while there is relatively low buying interest, sources said.European ferro-molybdenum consumers in the steel sector appear satisfied with their long-term contracted intake of alloys at present, while South Korea was closed for a national holiday...Read More
Mexico's automotive production increased by 3.90% year on year in May 2018, according to figures released by the country's national automotive association Amia on Tuesday June 12.Vehicle output reached 352,860 units last month, compared with 339,747 units in May 2017.Sales in the country's domestic market declined 6.90% year on year in May to 114,492 units from 122,916 units.Mexico's vehicle...Read More
China's crude steel and finished steel output both rose year on year in May, helped by higher prices and improved producer margins.Steelmakers in China produced 81.13 million tonnes of crude steel last month, up 8.9% from a year ago, the country's National Bureau of Statistics (NBS) said on Thursday June 14. The country's finished steel output also...Read More
Price negotiations for pig iron exports from the Commonwealth of Independent States have begun again after a silence lasting from late May, although no new bookings from the key outlets of the United States and Italy have yet been heard.The US pig iron market, the largest consumer of the raw material in the world, has improved because of the higher prices for scrap and finished steel products in t...Read More
Nickel prices on the London Metal Exchange recorded the largest losses of the day at the close of trading on Thursday June 14, leading the complex lower amid sharp drops in lead, copper and zinc prices. Results from China's macro-economic data, including a lower than expected rise in fixed asset investment, and a weaker dollar index has put pressure on the base metals complex.China's fixed asset i...Read More
Germanium prices in Europe fell on Wednesday June 14 as a result of surplus material available in China and low demand from end users.Metal Bulletin assessed germanium metal at $1,560-1,660 per kg on an in-warehouse Rotterdam basis on Wednesday, down 5.3% from $1,650-1,750 per kg the previous week."A European trader offered us 50 kilograms of germanium at $1,575 per tonne, but we didn't buy, so I...Read More