The International Monetary Fund (IMF) has recently raised its economic growth forecast for Latin America and the Caribbean while a gradual recovery continues in the region, which was severely affected by the 2014-16 decline in commodity prices.The region's gross domestic product (GDP) is now expected to rise by 2% year-on-year in 2018, against a previous forecast of a 1.9% increase, the IMF said i...Read More
Lucas Giannini, an aluminium trader with Gerald Group in London, will leave the company at the end of April, sources close to the situation told Metal Bulletin on Wednesday April 25.Giannini joined the company in...Read More
Chinese nickel premiums hit a fresh nine-month low on Tuesday April 24 on sluggish import demand, while the US market saw increased demand and deal volume in Europe ticked up. Lack of import demand in China pushes premiums down US market unchanged, demand up after LME volatility European market stable with uptick in volume Chinese premiums hit nine-month low The cif Shanghai full-plat...Read More
The Shanghai in-warehouse zinc premium inched higher after import losses narrowed, while zinc and lead premiums in other regions remained largely stable, with the exception of India where primary lead eased on Tuesday April 24. Shanghai in-warehouse premium rises $10 per tonne India primary lead premium down on lower-priced deals and weak battery demand Lead premiums in Southeast Asian...Read More
United Arab Emirates steel producer Conares Steel cut its domestic rebar price on Wednesday, April 25. The company is offering rebar at 2,216 dirhams ($603) per tonne ex-works, down from 2,381.5 dirhams per tonne ex-works. The...Read More
Crude steel production in Argentina grew by 20.80% year-on-year in March, according to figures released by national steel association Acero Argentino on Tuesday April 24.Production came to 473,900 tonnes, compared with 392,300 tonnes in the corresponding month last year.March's crude steel output also went up by 13.56% from the previous month's level of 417,300 tonnes.The...Read More
Global crude steel production rose by 4% year-on-year in March 2018, partly due to an increase in China, according to statistics published by the World Steel Association (Worldsteel) on Wednesday April 25.World crude steel output was 148.33 million tonnes in March, compared with 142.68 million tonnes in the corresponding month of 2017.China, the world's largest steelmaking country, increased its c...Read More
European authorities are thought to be considering whether to start an anti-dumping case into imports of steel hollow sections originating from Macedonia, sources told Metal Bulletin on Wednesday April 25."The information has been circulating in the market that the European Commission [EC] might start a trade case into Macedonian hollow sections. But it is unclear if [European steel association] E...Read More
Prices for domestic hollow steel sections edged downward slightly in Northern Europe this week due to low levels of activity but Southern European prices remained stable, market sources told Metal Bulletin on Wednesday April 25.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe was down by ?,?5 to ?,?660-665 ($806-812) per...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 United Arab Emirates, domestic (Conares Steel), rebar, offered at 2,216 dirhams ($603)...Read More
Domestic prices for hot-dipped galvanized coil (HDG) in the EU have been under pressure from low offers from Turkey, sources told Metal Bulletin on Wednesday April 25."HDG prices [in Southern Europe] showed a reduction due to the offers from Turkey. European steelmakers are struggling to get close to the level of import prices," an Italian trader said.Metal Bulletin's weekly price assessment for i...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday April 25:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.30-12.55 per lb from $11.90-12.30 per lbFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.70-30.20...Read More
The following Metal Bulletin minor metals prices changed on Wednesday April 25:Antimony MB free market regulus, $/tonne: $8,150-8,300 per tonne from $8,200-8,350 Antimony MMTA standard grade II, $/tonne: $8,150-8,300 per tonne from $8,200-8,350 Cobalt MB free...Read More
Key data from the Wednesday April 25 pricing session in Europe. Key drivers - The ferro-titanium spot market has moved up in its trading range and about 650 tonnes of alloy was reported to have been traded. - All but about 20 tonnes of the alloy was reported sold at above $5 per kg delivered duty paid. Traders continue to be more aggressive with their offer prices below that level and around...Read More
CSN's mining unit will put workers on collective holidays at its Casa de Pedra iron ore mine in the city of Congonhas, in Brazil's southeastern Minas Gerais state.The collective holidays will be granted in successive periods of 15 days, from May 7 to July 20, and the...Read More
Turkish steel producers returned to the deep-sea scrap markets for UK-origin cargoes on Wednesday April 25, with prices going down slightly.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $341.07 per tonne cfr, down by $1.53 per tonne day-on-day.The daily index for similar US-origin material closed at $349.67 per...Read More
The latest metal markets news and price moves to start the North American day on Wednesday April 25.Base metals on the London Metal Exchange were broadly lower during morning trading, with zinc the biggest downward mover. Some 30,075 tonnes of zinc was delivered into Antwerp this morning, with overall stocks rising approximately 16%. The metal's three-month price has subsequently fallen 1.6% this...Read More
The seaborne iron ore market continued to weaken on Wednesday April 25, with a cargo of Pilbara Blend fines even offered at a discount against the May average of an index.Metal Bulletin 62% Fe Iron Ore Index: $66.38 per tonne cfr Qingdao, down by $0.88 per tonneMetal Bulletin 58% Fe Premium Index: $55.94 per tonne cfr Qingdao, down by $0.14 per tonneMetal Bulletin 65% Fe Iron Ore Index: $84.70 per...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...Read More
The gap between prices for premium hard coking coal and hard coking coal in the seaborne market narrowed further on Wednesday April 25, and participants are divided about whether they have reached a floor.A shipment of a top Australian brand with an early-June laycan was traded at $186 per tonne cfr China while a cargo of premium mid-vol materials with an end-May laycan changed hands at $182 per t...Read More