An overview of China's minor metals markets in the week of April 16-20 and the reasons for any price moves.Read More
Compagnie de Tifnout Tiranimine (CTT) has resumed cobalt production at its plant after operational difficulties resulted in a one-week closure. Operations restarted at the plant in Morocco this week and production is ramping up to normal levels, a source close to...Read More
The light iron scrap market in the UK was unchanged for a second week in a row in the seven days to Friday April 20, with steady domestic demand counteracting a drop in export prices to key destinations such as the Turkey and the Indian subcontinent.The market has been stable for two weeks after price losses on the European export market in late March and early April.Metal Bulletin's weekly price...Read More
Ferrous scrap prices in the bulk sector dipped during the working week ended Friday April 20 due to downward pressure from Turkish import prices, which fell midweek in several trades for material from the United States and the Baltic Sea.But this downward trend was not seen in the containerized scrap import market. Taiwanese scrap import prices remained flat on sparse trading this week, while the...Read More
Prices for containerized shredded scrap imports into India edged up this week, with the market seeking a correction following a series of recent falls, market sources told Metal Bulletin on Friday April 20.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $385.44 per tonne cfr Nhava Sheva on April 20, up by $4.17 per tonne week-on-week, compared with $381.27...Read More
Comex copper prices experienced a modest gain Friday April 20 morning the US, with a surging dollar capping the potential upside. Copper for May settlement on the Comex division of the New York Mercantile Exchange inched up 0.25 cents or 0.1% to $3.1345 per lb. "While supply should remain tight, we expect a pick-up in seasonal demand...Read More
Base metals traded on the London Metal Exchange have come under downward pressure this morning, Friday April 20, with the complex posting an average loss of 1.1% amid healthy trading volumes.Nickel (-2.9%) and aluminium (-1.1%) have been hit the most, which is not surprising after the substantial gains both metals made earlier this week. They remain the star performers in the week to date, with al...Read More
Compagnie de Tifnout Tiranimine (CTT) has resumed cobalt production at its plant after operational difficulties resulted in a one-week closure. Operations restarted at the plant in Morocco this week and production is ramping up to normal levels, a source close to...Read More
Prices for hot-rolled coil (HRC) imported into India from South Korea have fallen by about $30 per tonne in the past month, with a southern India-based end-user booking a large shipment at $660-665 per tonne cfr Chennai port this week.Importers based in the northern port of Mumbai were unsuccessful in booking the South Korean shipment, which comprised about 25,000 tonnes of HRC, although it was fi...Read More
Import prices for flat steel products in South America have all declined this week, on reduced buying appetite in the markets, Metal Bulletin has heard."There is low buying interest, with clients adopting a wait-and-see approach," a South America-focused steel trader said. "The market seemed to be weak in China [this week], with mills holding [back] their offers."Offer prices for China-origin hot-...Read More
Coated coil prices were stable in Turkey this week although demand was still soft in the local and export markets, Metal Bulletin was told on Friday April 20.Domestic pricesOne Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $790-800 per tonne ex-works this week.A second producer in the same region was still offering similar product at $825 per tonne ex-works.Sout...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices and trading activity both faltered on Friday April 20, after the value of Metal Bulletin's 62% Fe Iron Ore Index surged by more than $2.50 per tonne a day earlier.The stoppage of Anglo American's Minas-Rio iron ore operation in Brazil will have an effect, albeit a small one, on worldwide...Read More
The light iron scrap market in the UK was unchanged for a second week in a row in the seven days to Friday April 20, with steady domestic demand counteracting a drop in export prices to key destinations such as the Turkey and the Indian subcontinent.The market has been stable for two weeks after price losses on the European export market in late March and early April.Metal Bulletin's weekly price...Read More
Domestic prices for rebar in Poland have moved down slightly, while distributors are cautious on making new deals, sources told Metal Bulletin."Demand from the construction industry is getting stronger but as the outlook for the European rebar market is unclear, distributors are buying smaller volumes and do not want to build high stocks," a Polish trader said.Metal Bulletin's weekly price assessm...Read More
The light iron scrap market in the UK was unchanged for a second week in a row in the seven days to Friday April 20, with steady domestic demand counteracting a drop in export prices to key destinations such as the Turkey and the Indian subcontinent.The market has been stable for two weeks after price losses on the European export market in late March and early April.Metal Bulletin's weekly price...Read More
Ferrous scrap prices in the bulk sector dipped during the working week ended Friday April 20 due to downward pressure from Turkish import prices, which fell midweek in several trades for material from the United States and the Baltic Sea.But this downward trend was not seen in the containerized scrap import market. Taiwanese scrap import prices remained flat on sparse trading this week, while the...Read More
Prices for containerized shredded scrap imports into India edged up this week, with the market seeking a correction following a series of recent falls, market sources told Metal Bulletin on Friday April 20.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $385.44 per tonne cfr Nhava Sheva on April 20, up by $4.17 per tonne week-on-week, compared with $381.27...Read More
China's domestic rebar prices moved up further on Friday April 20, but the increases have led buyers to cut their procurement rates.Domestic Eastern China (Shanghai): 3,790-3,830 yuan ($604-610) per tonne, up 30-40 yuan per tonne Northern China (Beijing): 3,700-3,740 yuan per tonne, widened upward by 10 yuan per tonne Sellers encouraged by the trading activity in the past couple of days, raised th...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. First quarter earnings continue to pour in. Companies that reported since the close yesterday included General Electric, Honeywell, Rogers Communications, Schlumberger, Stanley Black & Decker, State Street, SunTrust and Waste Management.The Canadian Dollar dropped US 0.37 to 78.76 cents...Read More
SHANGHAI, Apr 20 (SMM) – The nonferrous metals saw bleak performance today expect for SHFE tin. Nickel led a loss of 3%, aluminium dropped over 2%, copper slid close to 1%, with lead and zinc dipping.The ferrous complex fell across the board with coking coal leading a loss of over 2%. Coke lost 1.7%, rebar dropped over 1%, iron ore edged down close to 1%, with hot-rolled coil down slightly.C...Read More