Export prices for Southern European rebar have widened downward by ?,?5 per tonne week-on-week amid continued low market activity, sources told Metal Bulletin on Wednesday April 18.Metal Bulletin's weekly export price assessment for Southern European rebar was ?,?470-485 ($581-600) per tonne fob main ports on Wednesday, compared with ?,?475-485 per tonne on April 11.The assessment widened downward...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Southern Europe have widened downward week-on-week, with Italian mills adjusting their offers amid low Turkish import prices, sources said on Wednesday April 18.Southern European domestic prices for mesh-quality wire rod widened downward by ?,?10 per tonne over the week to ?,?530-560 ($656-693) per tonne delivered on April 18, com...Read More
Prices for rebar produced and delivered in Northern Europe have weakened by ?,?5-10 per tonne over the past week, with activity remaining subdued, market participants told Metal Bulletin on Wednesday April 18.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe fell to ?,?540-560 ($668-693) per tonne delivered on Wednesday, compared with ?,?545-570 per tonne delivered on...Read More
Turkish steel producers have booked more deep-sea scrap for May deliveries, but prices fell amid weak finished steel markets, sources said on Wednesday April 18.One steel producer booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $355 per tonne and 15,000 tonnes of shredded at $360 per tonne cfr, late on Tuesday April 17. The cargo was scheduled to be shipped in the second hal...Read More
The seaborne iron ore market continued to pick up strength on Wednesday April 18 on a fixed-price basis though premiums for index-linked cargoes continued to soften.Metal Bulletin 62% Fe Iron Ore Index: $65.88 per tonne cfr Qingdao, up by $1.37 per tonneMetal Bulletin 58% Fe Premium Index: $53.10 per tonne cfr Qingdao, up by $0.88 per tonneMetal Bulletin 65% Fe Iron Ore Index: $83.90 per tonne cfr...Read More
Rio Tinto is expecting its Canadian iron ore pellet and concentrate output to drop this year but is maintaining its guidance for its Australian iron ore and coking coal operations.Pilbara iron oreThe miner shipped 80.3 million tonnes of iron ore on a 100% basis from its Pilbara operations in Western Australia in the first three months of 2018, up 5% from a year earlier but down 11% in comparison w...Read More
Iranian export semi-finished steel prices went largely unchanged in the week ended Wednesday April 18 because of the lack of activity in the market.Metal Bulletin's weekly price assessment for Iranian billet exports was $495-505 per tonne fob on April 18, unchanged week on week.Several cargoes were reported sold to...Read More
Base metals prices on the London Metal Exchange are on divergent paths so far this morning, Wednesday April 18, despite the strong risk sentiment seen across wider financial markets following solid earnings results and the surprise monetary easing announced by China’s central bank. Nickel (+3.5%), Aluminium (+1.2%) and copper (+0.7%) are trading positively, while the rest of the complex was d...Read More
U.S .equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. First quarter reports continue to pour in. Companies that reported overnight included IBM, United Continental, Intuitive Surgical, CSX, Abbott Labs and Morgan Stanley. Intuitive Surgical added $23.05 to 458.50 after reporting higher than consensus first quarter earnings. Stifel Nicolaus r...Read More
SHANGHAI, Apr 18 (SMM) – Nonferrous metals rebounded across the board on Wednesday April 18, except for lead. SHFE zinc, tin and nickel rose close to 1%, copper gained 0.63%, and aluminium edged up slightly.The ferrous complex remained strong. Coke surged close to 5%, coking coal jumped 3%, hot-rolled coil and iron ore gained over 2% and rebar rose close to 2%.Copper: SHFE copper broke the 5...Read More
SHANGHAI, Apr 18 (SMM) – Nonferrous metals rebounded across the board on Wednesday April 18, except for lead. SHFE zinc, tin and nickel rose close to 1%, copper gained 0.63%, and aluminium edged up slightly.The ferrous complex remained strong. Coke surged close to 5%, coking coal jumped 3%, hot-rolled coil and iron ore gained over 2% and rebar rose close to 2%.Copper: SHFE copper broke the 5...Read More
SHANGHAI, Apr 18 (SMM) – Nonferrous metals rebounded across the board on Wednesday April 18, except for lead. SHFE zinc, tin and nickel rose close to 1%, copper gained 0.63%, and aluminium edged up slightly.The ferrous complex remained strong. Coke surged close to 5%, coking coal jumped 3%, hot-rolled coil and iron ore gained over 2% and rebar rose close to 2%.Copper: SHFE copper broke the 5...Read More
SHANGHAI, Apr 18 (SMM) – The US Department of Commerce announced on TuesdayApril 17 that it was launching a new round of anti-dumping and anti-subsidy investigations on certain steel wheels imported from China, SMM learned. The investigations began after two US manufacturers of vehicle components, Accuride Corporation and Maxion Wheels Akron LLC, filed complaints last month. The US...Read More
SHANGHAI, Apr 18 (SMM) – The US Department of Commerce announced on TuesdayApril 17 that it was launching a new round of anti-dumping and anti-subsidy investigations on certain steel wheels imported from China, SMM learned. The investigations began after two US manufacturers of vehicle components, Accuride Corporation and Maxion Wheels Akron LLC, filed complaints last month. The US...Read More
SHANGHAI, Apr 18 – China's zinc spot market traded more actively on Wednesday April 18 than yesterday. As the SHFE 1805 contract failed to stay firm above 24,000 yuan/mt this morning, downstream demand in Shanghai held steady amid relatively tight supplies, SMM learned.In the Shanghai market, 0# zinc traded at 24,150-24,230 yuan/mt. The 0# common brand traded at a pre...Read More
Prices for domestic hollow sections remain unchanged in Northern and Southern Europe over the week although mills were pushing for price increases, sources told Metal Bulletin on Wednesday April 18.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Southern Europe was unchanged week-on-week at ?,?620-655 ($767-810) per tonne delivered on A...Read More
SHANGHAI, Apr 18 (SMM) – China’s copper anode imports have risen as the country continued to expand its copper smelting capacity and as its domestic raw material supply percentage is below 30%.In 2017, imported copper anode accounted for 9.1% of the total raw materials used for copper smelting in China. This compared with 8.8% in 2016, SMM data showed.Zambia, Chile, and the Democr...Read More
SHANGHAI, Apr 18 (SMM) – Prices of residential property in China’s first-tier cities continued to decline on the year in March, while prices across second- and third-tier cities rose at a slower rate, data from the National Statistics Bureau showed. In first-tier cities, prices of new and resale homes in March fell 0.6% and 0.1% on the year, respectively. The data covere...Read More
SHANGHAI, Apr 18 (SMM) – The US Department of Commerce announced on TuesdayApril 17 that it was launching a new round of anti-dumping and anti-subsidy investigations on certain steel wheels imported from China, SMM learned. The investigations began after two US manufacturers of vehicle components, Accuride Corporation and Maxion Wheels Akron LLC, filed complaints last month. The US...Read More
SHANGHAI, Apr 18 (SMM) – Prices of residential property in China’s first-tier cities continued to decline on the year in March, while prices across second- and third-tier cities rose at a slower rate, data from the National Statistics Bureau showed. In first-tier cities, prices of new and resale homes in March fell 0.6% and 0.1% on the year, respectively. The data covere...Read More