Prices for containerized shredded scrap imports into India dipped this week after deals were done at lower prices with the market remaining weak, market sources told Metal Bulletin on Friday June 1.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $374.03 per tonne cfr Nhava Sheva on June 1. This was down by $8.87 per tonne, from $382.90 per tonne cfr on May...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.The United States will impose Section 232 tariffs of 25% on steel imports and 10% on aluminium imports from Canada, Mexico and the European Union, US Commerce Secretary Wilbur Ross announced.The Mexican steel association, Canacero, has welcomed the decision by the federal government to take reciprocal m...Read More
Turkish steel producers have continued to book deep-sea scrap cargoes with prices continuing to slip, sources said on Friday June 1.A steel producer in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25), 12,000 tonnes of shredded and 13,000 tonnes of bonus at an average price of $336 per tonne cfr.Another steel mill in the Iskenderun region booked a UK cargo, c...Read More
Seaborne iron ore prices strengthened on Friday June 1 with Brazilian materials contributing most to the gains despite a softening of futures and the port market.Metal Bulletin 62% Fe Iron Ore Index: $66.16 per tonne cfr Qingdao, up by $0.84 per tonneMetal Bulletin 58% Fe Premium Index: $53.56 per tonne cfr Qingdao, up by $0.25 per tonneMetal Bulletin 65% Fe Iron Ore Index: $86.40 per tonne cfr Qi...Read More
Market participants' reaction to the possibility of a shortage of coking coal due to Australian rail freight operator Aurizon's new maintenance plan kept seaborne prices supported on Friday June 1.A cargo of premium mid-vol hard coking coal has been traded around $190 per tonne fob Australia while two cargoes of hard coking coal have changed hands at $169 per tonne fob Australia. Two more cargoes...Read More
Lead stocks in Shanghai Futures Exchange-approved warehouses fell to 10,967 tonnes in the week to Friday June 1, down 13% or 1,709 tonnes from last week's 12,676 tonnes. This week, Zhongchu Wuxi recorded the most lead stock withdrawals, with 1,257 tonnes leaving its sheds. The demand-supply imbalance and subsequent deficit were credited for the drop in lead inventory. The stringent environmental r...Read More
Base metals on the London Metal Exchange were mostly lower during morning trading on Friday June 1, with sideways trading predominantly in effect across the complex.Nickel prices on the London Metal Exchange climbed 3% during morning trading on Friday June 1, reaching levels not seen since the metal's mid-April sanction-related spike. Meanwhile, sideways trading takes effect across the rest of the...Read More
China's domestic hot-rolled coil prices moved up on Friday June 1 as futures gained early in the trading session. Domestic Eastern China (Shanghai): 4,280-4,300 yuan ($668-671) per tonne, up 20 yuan per tonne Northern China (Tianjin): 4,180-4,200 yuan per tonne, up 20-30 yuan per tonne HRC futures rose to a high of 3,964 yuan per tonne in the first hour of the morning session before retreatin...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 1:Minor metals Bismuth MB free market, $/lb: $4.50-5.05 per lb from $4.50-5.00 Bismuth MB China domestic, yuan/tonne: 62,000-64,000 yuan per tonne from 65,000-66,500 yuan Chromium MB free market alumino-thermic, $/tonne: $12,500-13,050 per tonne from $12,700-13,500 Cobalt MB free market high grade, $/lb: $42.00-43.00 per lb fr...Read More
An overview of China's minor metals markets in the week of May 29-June 1 and the reasons for any price moves.Read More
European flat and long stainless steel base prices were unchanged this week but could come under pressure in the coming weeks as a result of significantly higher alloy surcharges for June deliveries, sources told Metal Bulletin on Friday June 1.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern Europe was ?,?1,015-1,050 ($1,186-1,226...Read More
The global nickel market is expected to record a modest 70,000 tonne deficit in 2018 on the back of strong stainless steel production growth, Denis Sharypin, Nornickel head of market intelligence, said at Metal Bulletin's International Nickel Conference in Toronto (May 31-June 1). Nevertheless, the shortfall would still be less than the 107,000 tonne deficit posted in 2017 due to Indonesia and Chi...Read More
China's domestic stainless steel prices moved up over the past week amid a strengthening of the nickel contracts on the London Metal Exchange and Shanghai Futures Exchange (SHFE). Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,200-15,700 yuan ($2,371-2,449) per tonne including VAT for the week ended Thursday May 31, up 400 yuan...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday June 1:The following Metal Bulletin non-ferrous European free market scrap...Read More
Import prices for containerized heavy melting scrap (HMS) in Taiwan remained in a downward trend this week on poor end-user demand.Metal Bulletin's assessment of import prices for United States-origin HMS 1&2 (80:20) sold into Taiwan was $335-340 per tonne cfr for the week ended Friday June 1, down $5 per tonne from a week earlier.US-origin scrap was offered at $345 per tonne cfr Taiwan in the ear...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
Price increases for flat steel goods in the Brazilian market will be appled in the first days of trading in June, despite the problems faced by mills related to the continuing strike by the country's truck drivers.On Friday June 1, CSN will raise its prices by 11.75% for hot-rolled coil (HRC) and cold-rolled coil (HRC), while coated product prices will go up by 8.25%, according to Brazilian flat s...Read More
The United Steelworkers trade union (USW) has criticized the US government's decision to remove Canada's exemption from Section 232 tariffs on steel and aluminium products."This decision [to remove Canada's exemption] is unacceptable and calls into serious question the design and direction of the [Trump] administration's trade policy," the union said on May 31."This decision ignores the fact that...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