Japan's manufacturing purchasing managers' index (PMI) for May surprised to the upside at 52.8, having been expected to remain at April's level of 52.5, while China's Caixin PMI came in at 51.1, which was unchanged from April's reading. Taking into account yesterday's better-than-expected reading on China's official PMI, economic data may be picking up again, which could bode well for the metals....Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Battery-grade lithium carbonate prices have softened week on week due to cheaper material entering the market and because of downstream consumer expectations for lower prices; lithium prices in other regions were unchanged due to sluggish spot market activity. Battery-grade lithium carbonate prices in China weaken Lower battery-grade quality material available in the market drag down assessm...Read More
Lithium supply and prices are likely to dominate conversation at Industrial Minerals' 10th Lithium Supply & Markets Conference in Las Vegas. Oversupply could darken industry expectations, and key stakeholders will hope to address that issue and much more. The question of supply and demand in lithium has been a popular topic among key market participants at Industrial Minerals' Lithium Supply & Mar...Read More
Indian steel mills are likely to increase domestic prices for hot-rolled coil (HRC) by about 500 rupees ($7) per tonne this month, factoring in the increase in the cost of production created by the weakening of the country's currency.Officials from at least two large steel mills have confirmed that they were considering increases in the price of domestic HRC for sales in June.Indian domestic HRC p...Read More
Coated coil prices in Turkey were stable this week, with demand remaining poor in both the local and export markets, sources told Metal Bulletin on Friday June 1. Domestic prices One Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $745-750 per tonne ex-works this week, while no new price was heard from the second producer, who offered similar product at $770-780 p...Read More
Flat steel prices in Turkey's domestic, import and export markets have been mostly stable this week, with demand remaining limited, market participants told Metal Bulletin on Friday June 1.Some domestic producers are still accepting orders for July production, while others have closed their order books for July but have not yet started to offer August production.Domestic pricesHot-rolled coil (HRC...Read More
The United States' decision to impose Section 232 tariffs of 25% on steel imports is the "best worst-case scenario", European long steel exporters told Metal Bulletin this week.The US imposed Section 232 tariffs of 25% on steel imports and 10% on aluminium imports from Canada, Mexico and the European Union with effect from 12.01am on Friday June 1. "We are happier with a 25% tariff than a quo...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in May 2018.The case list below includes only updates. For other continuing cases this year, see...Read More
Domestic prices for rebar in Poland have been under pressure from competitive import offers, sources told Metal Bulletin on Friday June 1.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,250-2,280 zloty ($609-617) per tonne ex-works on June 1, compared with 2,220-2,270 zloty...Read More
Europe import prices for austenitic alloy steel scrap softened this week as the effect of high nickel prices was offset by sluggish demand, sources told Metal Bulletin on Friday June 1. Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,180-1,200 ($1,379-1,402) per tonne cif main European ports on Friday, down from ?,?1,200-1,240 per ton...Read More
Trading activity in the United States has slowed down in the pig iron market since buyers restocked early in May. They are expected to resume purchases later in June, when the trend in the scrap market becomes clear, Metal Bulletin was told on Friday June 1."Further developments will depend on decisions about trade regulations in the US [after it imposed its threatened 25% import tariff on steel p...Read More
Global ferrous scrap prices continued to soften during the week ended Friday June 1, with economic uncertainty in Turkey exerting downward pressure on spot trading values.The imposition by the United States of Section 232 import tariffs at 25% on steel from Canada, Mexico and the EU also damped market sentiment.Buyers in other parts of the world waited for better prices, causing negotiation activi...Read More
Brazilian slab export prices remained unchanged on Friday June 1, with few offers being heard due to a nationwide strike by truck drivers that affected production in most steelmaking facilities in the country.Metal Bulletin's weekly assessment of Brazil's export slab prices was $580-590 per tonne fob on June 1, stable from the previous week.A few offers were heard to the North American market at $...Read More
China's domestic rebar prices maintained their upward trend on Friday June 1 following higher futures. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($624-632) per tonne, up 80 yuan per tonne Northern China (Beijing): 3,900-3,940 yuan per tonne, up 30-50 yuan per tonne Trading activity dropped today after prices rose following gains in the futures market. Buyers are waiting to see...Read More
By Peter KennedyAnthony Milewski, Chairman and CEO of Cobalt 27 Capital, at the company's cobalt warehouse in Rotterdam, the Netherlands. Photo courtesy Cobalt 27 Capital Corp.The strong global economic growth expected in 2018 should be synonymous with higher industrial metal prices, according to a new commodity trends report by Desjardins Group.The view was supported this week by news that China'...Read More
SHANGHAI, Jun 1 (SMM) – Most nonferrous metals weakened on Friday June 1. SHFE lead fell 0.7%, and tin, zinc and aluminium dipped. SHFE nickel gained 2.1% and hit a record high. SHFE copper inched up.The ferrous complex rose across the board except for iron ore. Coking coal surged over 2%, rebar gained 1.7%, and hot-rolled coil and coke climbed slightly.Copper: As longs added their posi...Read More
SHANGHAI, Jun 1 (SMM) – Most nonferrous metals weakened on Friday June 1. SHFE lead fell 0.7%, and tin, zinc and aluminium dipped. SHFE nickel gained 2.1% and hit a record high. SHFE copper inched up.The ferrous complex rose across the board except for iron ore. Coking coal surged over 2%, rebar gained 1.7%, and hot-rolled coil and coke climbed slightly.Copper: As longs added their posi...Read More
SHANGHAI, Jun 1 (SMM) – Most nonferrous metals weakened on Friday June 1. SHFE lead fell 0.7%, and tin, zinc and aluminium dipped. SHFE nickel gained 2.1% and hit a record high. SHFE copper inched up.The ferrous complex rose across the board except for iron ore. Coking coal surged over 2%, rebar gained 1.7%, and hot-rolled coil and coke climbed slightly.Copper: As longs added their posi...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Index futures were virtually unchanged following release of the U.S. May Employment Report at 8:30 AM EDT. Consensus for May Non-farm Payrolls was 185,000 versus upwardly revised 159,000 in April. Actual was 223,000. Consensus for May Unemployment Rate was unchanged from April at 3.9%. A...Read More