Metal Bulletin proposes to launch a weekly European hot briquetted iron (HBI) assessment on a cfr Italy basis, $ per tonne. The European HBI assessment is being launched in response to the growing global HBI market, with Italy being the largest consumer in the spot market. Proposed specification: Price: Italian hot-briquetted iron, $ per tonne, cfr Italian portsType: Assessed rangeLocation: cfr It...Read More
China is likely to take an economic hit from its crackdown on scrap imports, prompting it to adopt a more pragmatic approach in the future, panelists of the Bureau of International Recycling's (BIR) International Trade Council said at the association's Barcelona conference. China has announced several drastic measures to curtail the import of scrap into the country in recent months. The country's...Read More
The export price of CIS steel billet continued to drop on Wednesday May 30 with new bookings being reported at lower levels.Metal Bulletin's CIS billet export index was $504 per tonne fob Black Sea on May 30, down by $5 per tonne day-on-day.Offers from CIS mills were heard mostly within the range of...Read More
Risk...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.Subsc...Read More
Eastern China's rebar prices continued rising on Wednesday May 30 on falling stockpiles, while those in northern China were flat amid weak trading activity.Domestic Eastern China (Shanghai): 3,870-3,920 yuan ($603-611) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,860-3,880 yuan per tonne, unchangedRebar inventories in major eastern Chinese markets such as Shanghai and Hangzhou hav...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures moved slightly lower following release of economic news. Consensus for May ADP Employment reported at 8:15 AM EDT was a drop to 186,000 from 204,000 in April. Actual was 178,000. Consensus for second estimate of annualized first quarter real GDP reported at 8:30 AM EDT was...Read More
Prices drift as risk sentiment remains...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as...Read More
SHANGHAI, May 30 (SMM) – Most nonferrous metals futures dipped except for SHFE tin and nickel. Copper led losses to close 1.47% lower, lead fell 0.65%, and aluminium and zinc inched down.The ferrous complex, except for coking coal and iron ore, rose across the board. Hot-rolled coil and coke gained over 1%, and rebar went up nearly 1%.Copper: US-Sino trade tension weighed on the market&...Read More
SHANGHAI, May 30 (SMM) – Most nonferrous metals futures dipped except for SHFE tin and nickel. Copper led losses to close 1.47% lower, lead fell 0.65%, and aluminium and zinc inched down.The ferrous complex, except for coking coal and iron ore, rose across the board. Hot-rolled coil and coke gained over 1%, and rebar went up nearly 1%.Copper: US-Sino trade tension weighed on the market&...Read More
SHANGHAI, May 30 (SMM) – Most nonferrous metals futures dipped except for SHFE tin and nickel. Copper led losses to close 1.47% lower, lead fell 0.65%, and aluminium and zinc inched down.The ferrous complex, except for coking coal and iron ore, rose across the board. Hot-rolled coil and coke gained over 1%, and rebar went up nearly 1%.Copper: US-Sino trade tension weighed on the market&...Read More
Aluminium Aluminium prices remain confined to narrow ranges and...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plu...Read More
SHANGHAI, May 30 (SMM) – Spot copper was mostly offered at a discount of 70 yuan/mt to flat over the SHFE 1806 contract on Wednesday May 30 in the Shanghai market. This compared with a discount of 80-20 yuan/mt on Tuesday May 29.The SHFE 1806 contract slumped to close at 50,900 yuan/mt in the morning trading session, over 400 yuan/mt lower from the end of Tuesday morning. As p...Read More
SHANGHAI, May 30 (SMM) – Suzhou city in Jiangsu province plans to promote the sale of 9,000 new-energy vehicles (NEVs) and to build 2,245 new charging points in 2018, according to a notice by the Suzhou Economic and Information Technology Commission on May 11. The promotion target was distributed to local districts including Zhangjiagang, Changshu, and Kunshan. In 20...Read More
SHANGHAI, May 30 (SMM) – Despite lower offers in China's spot zinc market, downstream buyers held back from purchases on Wednesday May 30 amid bearish sentiment on prices of futures, SMM learned.The SHFE zinc 1806 contract fell to a low of 24,080 yuan/mt near noon on May 30 and closed at 24,150 yuan/mt, some 30 yuan/mt lower from Tuesday.In Shanghai, #0 zinc mostly traded at 23,960-24,13...Read More
In this week’s analysis, we identify...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
SHANGHAI, May 30 (SMM) – Suzhou city in Jiangsu province plans to promote the sale of 9,000 new-energy vehicles (NEVs) and to build 2,245 new charging points in 2018, according to a notice by the Suzhou Economic and Information Technology Commission on May 11. The promotion target was distributed to local districts including Zhangjiagang, Changshu, and Kunshan. In 20...Read More
SHANGHAI, May 30 (SMM) – Copper: Copper prices dipped overnight amid bearish sentiment as US-Sino trade tension re-emerged and as Italy entered a political crisis. LME copper is expected to trade at $6,800-6,860/mt with the SHFE 1807 contract at 51,200-51,700 yuan/mt today. Spot discounts are seen at 90-30 yuan/mt as a deadlock continues between sellers and downstream buyers.A...Read More
SHANGHAI, May 30 (SMM) – Suzhou city in Jiangsu province plans to promote the sale of 9,000 new-energy vehicles (NEVs) and to build 2,245 new charging points in 2018, according to a notice by the Suzhou Economic and Information Technology Commission on May 11. The promotion target was distributed to local districts including Zhangjiagang, Changshu, and Kunshan. In 20...Read More
Lead prices driven higher by...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as i...Read More
SHANGHAI, May 30 (SMM) – Some 2,805 mt of copper scrap imports received the green light in the 13th batch of approvals for restricted solid scrap material imports, according to the solid waste management centre of China’s Ministry of Ecology and Environment.This brought the total approved copper scrap imports this year to 485,100 mt, down 83.9% from 11 batches last year.Two companies i...Read More