The light iron scrap market in the United Kingdom was steady for a fourth week in the week to Friday May 4, with a steady fall in sterling against the dollar in the past fortnight enough to shore up support for prices, industry sources told Metal Bulletin.Market sentiment suggests a potential increase in export demand for British steel scrap because of moves in the dollar-pound exchange rate, whic...Read More
Prices for containerized shredded scrap imports into India went up this week on better levels of demand, market sources told Metal Bulletin on Friday May 4.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $390.73 per tonne cfr Nhava Sheva on May 4, up by $5.58 week-on-week from $385.15 per tonne cfr Nhava Sheva last week.This week's price rise for containeri...Read More
In 2017, trading volume on the Shanghai Futures Exchange shrank by almost one fifth to 1.36 billion lots, mainly led by a drop in rebar and bitumen trading, official data shows, yet trading turnover rose by 5.8% to 89.9 trillion yuan ($14.1 trillion). The SHFE's trading turnover accounted for a 47.9% share of China's futures markets, followed by Dalian Commodity Exchange, which accounted for...Read More
Comex copper prices dipped Friday May 4 morning in the US with a rebounding dollar sinking the latest rally.Copper for July settlement on the Comex division of the New York Mercantile Exchange fell 0.55 cents or 0.2% to $3.0750 per lb. Yesterday, Unites States non-ferrous scrap exports to China were brought to a halt on news that the Chinese government has implemented a 30-day suspension on i...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Chinese battery-grade lithium carbonate spot prices softened for the third consecutive week after cathode makers shifted their attention to preparing for high power and density production, reducing consumption for the lithium compounds. Battery-grade lithium carbonate spot prices fall Cheaper lithium carbonate from Qinghai province said to be major factor Downstream Chinese cathode mak...Read More
Indian steel mills have raised their prices for commercial-grade hot-rolled coil (HRC) by about 800 rupees ($12) per tonne for domestic sales in May.HRC producers in India have been successful in increasing prices consecutively over the past three months while international prices for the commodity continue to be higher than domestic Indian prices."The price increase [of 800 rupees per tonne] is v...Read More
Domestic prices for steel products in Argentina are unchanged this month, but some market participants have reported fears of future changes because of the country's currency instability.Metal Bulletin's monthly assessment of Argentina's domestic price for hot-rolled coil (HRC) remained unchanged at $750-755 per tonne ex-works on Friday May 4, with the price of cold-rolled coil (CRC) stable at $86...Read More
Prices for imports of cold-rolled coil (CRC) into South America dropped in the first few days of trading in May, due to low-priced offers from China, while the prices for hot-rolled coil (HRC) and hot-dipped galvanized coil (HDG) were stable, Metal Bulletin has heard.Offers were placed by Chinese mills in the export market, after the Labor Day holidays on Monday April 30 and Tuesday May 1 in the A...Read More
Domestic prices for steel products in Argentina are unchanged this month, but some market participants have reported fears of future changes because of the country's currency instability.Metal Bulletin's monthly assessment of Argentina's domestic price for hot-rolled coil (HRC) remained unchanged at $750-755 per tonne ex-works on Friday May 4, with the price of cold-rolled coil (CRC) stable at $86...Read More
Local prices for rebar in Brazil have increased early in May, which reflects efforts by several producers to put upward pressure on the market throughout the year to date.Rebar prices rose by around 8% last month, according to domestic sources.This lifted Metal Bulletin's monthly price assessment for Brazilian rebar to 2,380-2,580 Reais ($671-728) per tonne delivered on Friday May 4 from 2,200-2,4...Read More
Domestic prices for rebar in Poland have been unchanged this week because market activity was slow, sources told Metal Bulletin.Market activity was slow due to public holidays in the first half of this week, according to market sources.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,250-2,290...Read More
The export market for Brazilian pig iron waned at the beginning of May, with prices edging downward amid reduced product availability for shipment to foreign buyers and uncertainties about scrap prices in the United States.Metal Bulletin's weekly price assessment for Minas Gerais-origin pig iron exports came to $390-395 per tonne fob on Friday May 4, against $395-400 per tonne fob a week earlier.T...Read More
Ferrous scrap prices in the major global markets remained firm during the working week from Monday April 30 to Friday May 4, with single exception of the United States.Although Turkish steel producers halted their deep-sea scrap purchases at the end of last week, suppliers have kept their offers strong this week.But the decreases in Turkish import prices seen in previous weeks have only now been r...Read More
The light iron scrap market in the United Kingdom was steady for a fourth week in the week to Friday May 4, with a steady fall in sterling against the dollar in the past fortnight enough to shore up support for prices, industry sources told Metal Bulletin.Market sentiment suggests a potential increase in export demand for British steel scrap because of moves in the dollar-pound exchange rate, whic...Read More
China's domestic rebar prices were flat on Friday May 4 as buyer interest waned ahead of the weekend. Domestic Eastern China (Shanghai): 4,060-4,100 yuan ($639-645) per tonne, unchangedNorthern China (Beijing): 3,910-3,940 yuan per tonne, unchangedTrading activity slowed down ahead of the weekend, particularly as many end users had already supplemented their inventories.Futures stayed be...Read More
SHANGHAI, May 4 (SMM) – Nonferrous metals futures saw mixed trading on Friday May 4 with SHFE zinc leading the loss with a dip of nearly 2%. Nickel fell almost 1%, while copper, aluminium, lead, and tin inched up.The ferrous complex saw iron ore dropping over 1%. Rebar lost nearly 1%, and hot-rolled coil slid almost 0.7%. Coke and coking coal went up slightly.Copper: The SHFE 1807 contract c...Read More
SHANGHAI, May 4 (SMM) – All waste raw materials imported from the US shall be subjected to inspections from May 4, according to a notice from China's customs administration. Deliveries cannot be sent into China without inspection. Copper scrap imported from the US accounted for 15% of China's total imports of copper scrap, and stood at 535,000 mt in 2017, SMM data...Read More
SHANGHAI, May 4 (SMM) – Nonferrous metals futures saw mixed trading on Friday May 4 with SHFE zinc leading the loss with a dip of nearly 2%. Nickel fell almost 1%, while copper, aluminium, lead, and tin inched up.The ferrous complex saw iron ore dropping over 1%. Rebar lost nearly 1%, and hot-rolled coil slid almost 0.7%. Coke and coking coal went up slightly.Copper: The SHFE 1807 contract c...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade.U.S. equity index futures were virtually unchanged following release of the April Employment Report. Consensus for Non-farm Payrolls was 185,000 versus an upwardly revised 135,000 in March. Actual was 164,000. Consensus for the Unemployment Rate was 4.0% versus 4.1% in March. Actual was...Read More