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
SHANGHAI, Apr 27 (SMM) – Domestic downstream orders for zinc oxide grew this week as downstream companies stocked up, SMM learned. Foreign trade orders downstream remained weak this week.Domestic demand came from the sectors of chemicals, electronics, tyres, feedstock, and ceramics. Zinc oxide processors stockpiled earlier this week as zinc prices fell when LME zinc inventories surged. ...Read More
Both flat and long stainless steel products' prices in Europe have remained unchanged over the past week amid continued low market activity, sources told Metal Bulletin on Friday April 27.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet was stable week on week at ?,?1,050-1,100 ($1,276-1,336) per tonne delivered in Northern Europe on Friday."M...Read More
SHANGHAI, Apr 27 (SMM) –Copper: LME copper rebounded from a low and traded rangebound overnight. Technically, it continued to stand above all moving averages with sufficient support but its trading level dipped. The SHFE 1806 contract came off a high with support at the 10-day moving average and resistance at the five- and 60-day moving averages. We expect LME copper to trade at $6,900-...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
SHANGHAI, Apr 27 (SMM) – Tongling Nonferrous Metals reported net profits of 203 million yuan for the first quarter of this year, up 40.5% year on year, according to its earnings report on Thursday April 26. This compared with an average growth of 98.4% for the nonferrous smelting and processing industry.The company’s revenue amounted to 17.74 billion yuan during the three-month p...Read More
European alloy steel surcharges for May deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the fourth consecutive month on an increase in nickel costs.The May alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,385-1,434 ($1,683-1,742) per tonne. This is up month-on-month from April's surcharge...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. Thursdays trading started on a weak footing, but most of the met...Read More
SHANGHAI, Apr 27 (SMM) – Cargos with invoices for May traded more actively than those with April invoices while downstream buyers stockpiled on Friday April 27 before the Labour Day holiday, SMM learned.In Shanghai, #0 zinc mostly traded at 24,020-24,140 yuan/mt. The 0# common brands with invoices for May were offered at a premium of 150-170 yuan/mt over the SHFE 1805 contract with 0# Shuang...Read More
SHANGHAI, Apr 27 (SMM) –Copper: LME copper rebounded from a low and traded rangebound overnight. Technically, it continued to stand above all moving averages with sufficient support but its trading level dipped. The SHFE 1806 contract came off a high with support at the 10-day moving average and resistance at the five- and 60-day moving averages. We expect LME copper to trade at $6,900-...Read More
The Turkish ministry of economy has started an investigation into the impact of steel imports on the country's domestic steelmaking industry, it said on Friday, April 27. Market participants believe the investigation is a precautionary measure against the Section 232 tariffs being introduced by the US, because Turkey may become an open market for dumped products once the US measures start to...Read More
The Turkish ministry of economy has started an investigation into the impact of steel imports on the country's domestic steelmaking industry, it said on Friday, April 27. Market participants believe the investigation is a precautionary measure against the Section 232 tariffs being introduced by the US, because Turkey may become an open market for dumped products once the US measures start to...Read More
SHANGHAI, Apr 27 (SMM) –Copper: LME copper rebounded from a low and traded rangebound overnight. Technically, it continued to stand above all moving averages with sufficient support but its trading level dipped. The SHFE 1806 contract came off a high with support at the 10-day moving average and resistance at the five- and 60-day moving averages. We expect LME copper to trade at $6,900-...Read More
The deadline for talks between the United States and Brazil over the Section 232 investigation into steel products is about to end without an agreement, but there may be some clues as to what will happen.Brazil has been temporarily excluded from a 25% tariff on steel shipments to the US market while negotiations have been held between the countries. The exemption is valid until Tuesday May 1.The U...Read More
Swedish iron ore pellet producer LKAB forecasts that the price premium for upgraded iron ore products will remain high in 2018, although standard iron ore prices will still be under pressure in the marketplace."LKAB [believes] that the oversupply situation in iron ore fines will continue, [and that this] is putting pressure on iron ore prices. At the same time, the premium for highly upgraded iron...Read More
The Turkish ministry of economy has started an investigation into the impact of steel imports on the country's domestic steelmaking industry, it said on Friday, April 27. Market participants believe the investigation is a precautionary measure against the Section 232 tariffs being introduced by the US, because Turkey may become an open market for dumped products once the US measures start to...Read More
The deadline for talks between the United States and Brazil over the Section 232 investigation into steel products is about to end without an agreement, but there may be some clues as to what will happen.Brazil has been temporarily excluded from a 25% tariff on steel shipments to the US market while negotiations have been held between the countries. The exemption is valid until Tuesday May 1.The U...Read More
An overview of the battery raw materials markets and their price moves from the past week.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