Turkish domestic long steel prices have gone down on a US dollar basis over the past week due to the weakening of the domestic lira, sources said on Thursday May 17.Metal Bulletin's weekly domestic price assessment for rebar in Turkey was $555-570 per tonne ex-works, down from the $565-570 per tonne of last week.The local rebar price in the Izmir region was $560-570 per tonne ex-works, while the I...Read More
Comex copper prices inched higher in the US morning on Thursday May 17 despite the dollar index rising and general uncertain conditions in the geopolitical space. Copper for July settlement on the Comex division of the New York Mercantile Exchange ticked up 0.70 cents or 0.2% to $3.0775 per lb. "In geopolitical news, the US and China launch trade talks today in Washington, with the Chinese vice pr...Read More
The latest metal markets news and price moves to start the North American day on Thursday May 17.Base metals on the London Metal Exchange were split into two camps during morning trading after a large rewarranting of more than 138,000 tonnes of aluminium in Port Klang.Some 138,650 tonnes of aluminium were rewarranted this morning in the LME-listed warehouses in the Malaysian port while 17,725 tonn...Read More
Base metals on the London Metal Exchange were split into two camps during morning trading on Thursday May 17 after a large rewarranting of more than 138,000 tonnes of aluminium in Port Klang.Some 138,650 tonnes of aluminium were rewarranted this morning in the LME-listed warehouses in the Malaysian port while 17,725 tonnes were also delivered in. The move comes after a 109-day queue formed at the...Read More
New smelters and expansions at a suite of Chinese copper smelting companies will create fresh demand for concentrates from the third quarter of this year.Major smelters starting up in the coming months include Chalco's Ningde smelter and Lingbao Jincheng Metallurgical, while Tongling's Ausmelt project is due later this year.Having been beset by a series of delays, Chinese copper smelting expansion...Read More
Turkish rebar and wire rod export prices have weakened in the past week on sluggish demand in the country's export markets, sources said on Thursday May 17.Turkish steel producers had reduced their offers to $555-560 per tonne fob on an actual weight basis, while buyers' bids have fallen to $545 per tonne fob and below, according to sources.Only a...Read More
The price of imported steel billet in Egypt has gone up this week although local rebar prices are unchanged, sources told Metal Bulletin on Thursday May 17.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 ($700) per tonne ex-works, including 14% VAT, while Beshay Steel, also a major domestic producer, is offering...Read More
The number of new passenger car sales in the EU jumped by 9.63% year-on-year in April 2018, following the decrease in March.New car sales in Europe totaled 1,306,273 units in April this year, compared with 1,191,494 vehicles sold in the corresponding month...Read More
Production of most pig iron and all steel products at ArcelorMittal Kryvyi Rih (AMKR) facility in Ukraine has been halted due to worker protests that began on Wednesday May 16. The protests were started by railroad department workers and spread to all other departments on May 16. Protesters have demanded an increase to monthly salaries to ?,?1,000 ($1,181) and to assurances that all rolling stock...Read More
China's domestic rebar prices remained flat on Thursday May 17 amid thin trading.Domestic Eastern China (Shanghai): 3,980-4,030 yuan ($624-632) per tonne, unchanged Northern China (Beijing): 3,940-3,970 yuan per tonne, unchanged Rebar futures fluctuated between a narrow range of 3,658 yuan per tonne and 3,688 yuan per tonne during the day, which kept sentiment in the spot market neutral. Both sell...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
Key data from the Wednesday May 16 pricing session in Europe.Key drivers - The ferro-titanium spot market moved down within its trading range, with about 280 tonnes of alloy reported to have been traded. - Most of the tonnage was reported sold at above $5 per kg, delivered duty paid, with less than 50 tonnes sold at $4.25-4.65 per kg. There is a disparity between what most producers have reported....Read More
The latest bids, offers and deals in the global markets for ferrous scrap products.Latest transaction: HMS, bonusTurkey, import, 25,000...Read More
Turkish deep-sea scrap import prices fell sharply on Thursday May 17 on news of a fresh European cargo being sold on the day.The country's steel producers were trying to get lower prices because of the weak demand in the domestic finished steel markets, sources said.A steel mill in the Iskenderun region booked the European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25) and 10,000 tonnes of bon...Read More
Physical iron ore prices were rangebound on Thursday May 17 amid a slowdown in trading activity.Metal Bulletin 62% Fe Iron Ore Index: $67.49 per tonne cfr Qingdao, down by $0.54 per tonne Metal Bulletin 58% Fe Premium Index: $54.56 per tonne cfr Qingdao, unchanged Metal Bulletin 65% Fe Iron Ore Index: $86.40 per tonne cfr Qingdao, up by $0.20 per tonne Metal Bulletin 62% Fe China Port Price Index:...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, tender, 190,000 tonnes of 61% Fe Pilbara Blend fines, sold at $66.06 per tonne cfr China, laycan May 31-June 9.Vale, Beijing Iron Ore...Read More
Seaborne coking coal prices were stable on Thursday May 17, though uncertainties about Australian supply and a strengthening downstream market appear to have improved sentiment, participants said.While trading activity remained thin in the hard coking coal segment during the day, a June-laycan cargo of low-vol pulverized coal injection materials was heard traded against an index at a 1-2% premium....Read More
German steelmakers have settled their monthly scrap contracts for May at unchanged prices due to a balance in supply and demand, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany for May was ?,?280-300 ($331-354) per tonne delivered, unchanged from last month."Demand for scrap [in Germany] is good, but also there is no...Read More
The sharp rally in cobalt prices over the past two years has accelerated the adoption of cobalt scrap in the production of cobalt metal and salts, including cobalt sulfate, Chinese market participants told Metal Bulletin. The boom in cobalt scrap demand has come at a time when cobalt prices have almost doubled in a year due to a bullish outlook on electric vehicles (EVs) consumption. Cobalt is one...Read More
China's ferrous futures trended downward during morning trading on Thursday May 17 before minimizing their losses toward the end of the session, with the benchmark hot-rolled coil contract performing the best by closing higher than its opening price.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,680 yuan ($577) per tonne, down 4 yuan per tonne October hot-rolle...Read More