Global ferrous scrap prices were mostly going down during the working week ended Friday April 27 due to thinner trading and weaker demand.A public holiday in Turkey reduced the demand for bulk cargoes, while a slight pickup in daily prices toward the end of the week did not boost week-on-week price changes. The weak bulk export sales in the United States added downward pressure to bulk prices, com...Read More
Prices for containerized shredded scrap imported into India were stable this week with buyers returning to the market following a lull in activity, sources told Metal Bulletin on Friday April 27.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was largely unchanged this week at $385.15 per tonne cfr Nhava Sheva on April 25, down by $0.29 week-on-week, compared w...Read More
Comex copper prices fell to a multi-week low to close the week on April 27 morning in the US, with a rising dollar and geopolitical uncertainty weighing on the red metal.Copper for May settlement on the Comex division of the New York Mercantile Exchange collapsed 7.40 cents or 2.4% to $3.0400 per lb. Earlier, the contract weakened to $3.0305, the lowest point since April 6."Next week is going to b...Read More
Base metals prices on the London Metal Exchange were broadly down this morning, Friday April 27, with only aluminium in positive territory - up by 0.8% at $2,289 per tonne. The rest were all lower by an average of 0.3%.Volume is up from this time on Thursday, but at 4,449 lots as of 06.16 am London time is still below average. Thursday's trading started on a weak footing, but most of the metals en...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Spot, battery-grade lithium carbonate prices continued to fall in China this week on thin buying activity, with buyers in no rush to buy ahead of the Labour Day holiday (April 29-May 1) and cautious given recent price declines.Chinese lithium carbonate battery-grade spot prices fall due to softer demand Consumers of lithium carbonate battery-grade hold back on procuring material ahead of hol...Read More
Import prices for flat steel in South America have increased this week, due to high-priced offers from China, Metal Bulletin has heard."[Chinese] export offers rose due to rising domestic values," a trader said on Friday April 27.China-origin offers of cold-rolled coil (CRC) were recorded at $680 per tonne cfr in Brazil and at $670-675 per tonne cfr along the region's Pacific coast.Meanwhile, Chin...Read More
Coated coil prices in Turkey fell this week because of lackluster demand in both the local and export markets, sources told Metal Bulletin on Friday April 27.Domestic pricesOne Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $780 per tonne ex-works this week.Southern Turkish producers were offering the product at $810 per tonne ex-works this week, down from $820-8...Read More
Some flat steel prices in Turkey's domestic and export markets fell this week, with demand remaining limited, market participants told Metal Bulletin on Friday April 27. Buyers were expecting further price decreases because there has been no sign of an improvement in demand and the products booked now will be delivered in June at the earliest, which is the start of summer holidays in Turkey and it...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices ended the week above the $65-per-tonne mark, with most market participants staying away on Friday April 27 to cut their risk ahead of a four-day trading break in China due to a public holiday over the first two days of next week.Meanwhile, India's largest iron ore miner, NMDC, lowered it...Read More
Indian domestic secondary billet prices have risen by at least 600 rupees ($9) per tonne this week, with demand for semi-finished steel being strong while availability was low.Secondary billet is mainly produced in induction furnaces, and Metal Bulletin's price assessment for the product on Friday April 27 was 35,500-35,700 rupees ($531-534) per tonne ex-mill. This was an increase of 600 rupees pe...Read More
UK long steel producer British Steel remains confident about its wire rod export business despite growing protectionism in international steel markets, Richard Sims, the company's managing director for wire rod, told Metal Bulletin last week.This protectionist trend saw the European Commission (EC) start a safeguard investigation into imports of 26 steel products on March 26.This had the intention...Read More
The light iron scrap market in the UK was steady for a third week on Friday April 27, with business sufficiently active to support current prices, Metal Bulletin has heard.But lower export prices to major overseas buyers of European scrap such as Turkey may undermine the UK market in the near future.Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis w...Read More
Global ferrous scrap prices were mostly going down during the working week ended Friday April 27 due to thinner trading and weaker demand.A public holiday in Turkey reduced the demand for bulk cargoes, while a slight pickup in daily prices toward the end of the week did not boost week-on-week price changes. The weak bulk export sales in the United States added downward pressure to bulk prices, com...Read More
Prices for containerized shredded scrap imported into India were stable this week with buyers returning to the market following a lull in activity, sources told Metal Bulletin on Friday April 27.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was largely unchanged this week at $385.15 per tonne cfr Nhava Sheva on April 25, down by $0.29 week-on-week, compared w...Read More
Export prices for Brazilian steel slab widened downward this week with prices in the United States market differing from those in other buying destinations because of negotiations for exemptions to the Section 232 import tariffs.Metal Bulletin's weekly assessment of Brazil's slab export prices fell to $560-600 per tonne fob on Friday April 27, compared with $600-610 per tonne fob a week before.Lat...Read More
Indian domestic secondary billet prices have risen by at least 600 rupees ($9) per tonne this week, with demand for semi-finished steel being strong while availability was low.Secondary billet is mainly produced in induction furnaces, and Metal Bulletin's price assessment for the product on Friday April 27 was 35,500-35,700 rupees ($531-534) per tonne ex-mill. This was an increase of 600 rupees pe...Read More
Dow Jones Industrial and S&P 500 futures were lower this morning. S&P 500 futures were down 4 points in pre-opening trade. Index futures were virtually unchanged following release of first estimate of U.S. Real GDP. Consensus was growth at a 2.0% rate. Actual was 2.3%. First quarter reports continue to pour in. Companies that released results from yesterday's close included Amazon, Cabot O...Read More
China's domestic rebar prices rebounded slightly on Friday April 27, supported by an uptick in sales volume ahead of the long weekend. Domestic Eastern China (Shanghai): 3,890-3,930 yuan ($614-621) per tonne, up 30 yuan per tonne Northern China (Beijing): 3,750-3,770 yuan per tonne, up 20 yuan per tonne Customers raised their procurement rates ahead of the long weekend, with Chinese markets closed...Read More
SHANGHAI, Apr 27 (SMM) – Nonferrous metals rebounded for the most part except for copper. SHFE nickel led the gains with a rise of over 1.3%, lead went up nearly 1%, while tin, aluminium, and zinc inched up. The ferrous complex saw mixed trading with slower rates of decline. Iron ore, coking coal, and coke dipped over 1%. Hot-rolled coil and rebar closed nearly 1% higher....Read More