Base metals traded on the London Metal Exchange experienced slight upward pressure this morning, Monday April 16, with the complex posting an average gain of 0.5% amid decent trading volumes. Aluminium (+0.8%) and zinc (+0.8%) are leading the pack higher, while copper (-0.1%) is the only LME base metal to trade in negative territory.The slight upward pressure across the industrial metals coincides...Read More
The domestic market for hot-rolled (HR) and cold-rolled (CR) steel sheet in the central region of Russia, around Moscow, was quiet during the week ended Monday April 16.Traders with sufficient stocks were able to wait for announcements of prices for May-rolled products, Metal Bulletin was told.Metal Bulletin's weekly assessment of the price for Russia-origin 4mm HR sheet was unchanged on April 16...Read More
Import prices for re-rolling-grade hot-rolled coil sold into Vietnam continued to fall over the past week with offers becoming more competitive amid persistently weak demand.Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $595-607 per tonne cfr for the week ended Monday April 16, down...Read More
Hot-rolled coil prices rose in east China in the morning of Monday April 16 but ceded a lot of those gains in the afternoon following losses in the paper market.DomesticEastern China (Shanghai): 3,930-3,980 yuan ($626-634) per tonne, up 10-30 yuan per tonneNorthern China (Tianjin): 3,870-3,890 yuan per tonne, unchanged Spot cargoes changed hands at 3,940-3,980 yuan per tonne in the first half of t...Read More
The Brazilian competition regulator, Cade, has approved the sale of long steel assets from ArcelorMittal Brasil to Mexico's Grupo Simec, according to a document published in the country's official gazette on Monday April 16.These divestments are part of the merger process between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia. In February, Cade approved the merger between...Read More
Mexico's steel association, Canacero, has appointed M??ximo Vedoya its new president, it announced on Monday April 16.Vedoya, chief executive officer at Latin American steel producer Ternium, will lead the group for one year, but with the possibility of his mandate being extended for a further two years.He replaces...Read More
CIS export rebar and wire rod prices decreased in the week to Monday April 16 on thin trading and a less positive sentiment in the global market.Metal Bulletin's weekly price assessment for CIS wire rod exports dropped to $580-605 per tonne fob Black Sea on April 16, compared with $590-620 per tonne Offers from Russia's Abinsk Steel Mill for May delivery were heard at $595-600 per tonne fob.....Read More
Turkish steel producers continued their deep-sea scrap purchases for May on Monday April 16 but the prices have gone down slightly following the latest bookings, Metal Bulletin has heard.A steel mill in the Iskenderun region booked a European cargo, comprising 12,000 tonnes of HMS 1&2 (75:25) at $342 per tonne and 12,000 tonnes of bonus at $362 per tonne cfr, late on April 13.Another steel mill in...Read More
Turkish domestic ship scrap prices have slightly increased with the latest uptick in imported scrap costs, while auto bundle scrap prices have remained comparatively steady over the past week, sources said on Monday April 16.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market was $341-352 per tonne delivered, widening upward from last week's...Read More
Iron ore prices retreated on Monday April 16 on thin trading amid China's weakening steel and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $63.93 per tonne cfr Qingdao, down by $1.03 per tonneMetal Bulletin 58% Fe Premium Index: $52.09 per tonne cfr Qingdao, down by $0.28 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81 per tonne cfr Qingdao, down by $1.20 per tonneMetal Bulletin 62% Fe...Read More
CIS export billet prices remained largely unchanged in the week ended Monday April 16 amid reduced buying activity in the major outlets.Some market participants expected more price declines in the near term, because of the uncertainty in the scrap market."The market [for steel billet exports] will soon fall to $505 per tonne fob Black Sea," one trader said.Meanwhile, some sources expected the mark...Read More
China's domestic rebar prices retreated amid thin trading on Monday April 16 due to losses in the futures market. Domestic Eastern China (Shanghai): 3,650-3,700 yuan ($582-590) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,640-3,680 yuan per tonne, down 20-30 yuan per tonne Rebar futures declined throughout the day, which led to a deterioration of sentiment and lower prices in the...Read More
Chinese domestic ferro-silicon prices stabilized last week, with production cuts and a sudden jump in ferro-silicon futures on the Zhengzhou Commodity Exchange supporting the free market. China garners production, futures support Europe awaits tenders results US ends six-week losing streak Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices uncha...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.Index futures were virtually unchanged following release of economic news released at 8:30 AM EDT. Consensus for March Retail Sales was an increase of 0.4% versus a decline of 0.1% in February. Actual was an increase of 0.6%. Excluding auto sales, consensus for March Retail Sales was an i...Read More
SHANGHAI, Apr 16 (SMM) – Nonferrous metals futures rose across the board on Monday April 16, as SHFE nickel led the gains with a rise of nearly 1.7%. Aluminium and zinc rose close to 1%, tin gained over 0.7% while lead and copper inched up.Most ferrous metals closed lower except for coke. Iron ore dipped nearly 2.6%, coking coal dropped close to 2.5%, rebar fell almost 2%, and hot-rolle...Read More
SHANGHAI, Apr 16 (SMM) – Nonferrous metals futures rose across the board on Monday April 16, as SHFE nickel led the gains with a rise of nearly 1.7%. Aluminium and zinc rose close to 1%, tin gained over 0.7% while lead and copper inched up.Most ferrous metals closed lower except for coke. Iron ore dipped nearly 2.6%, coking coal dropped close to 2.5%, rebar fell almost 2%, and hot-rolle...Read More
SHANGHAI, Apr 16 (SMM) – Nonferrous metals futures rose across the board on Monday April 16, as SHFE nickel led the gains with a rise of nearly 1.7%. Aluminium and zinc rose close to 1%, tin gained over 0.7% while lead and copper inched up.Most ferrous metals closed lower except for coke. Iron ore dipped nearly 2.6%, coking coal dropped close to 2.5%, rebar fell almost 2%, and hot-rolle...Read More
SHANGHAI, Apr 16 (SMM) – China's imports of unwrought copper and copper products in March grew 22% month on month and stood at 439,000 mt, according to data from China Customs. Imports for March also inched up 2.1% year on year.In the first quarter of the year, China imported 1.23 million mt of unwrought copper and copper products, up 7.3% from the same period last year.SMM believed...Read More
SHANGHAI, Apr 16 (SMM) – In an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area this week, Tangshan city has initiated measures to cut emissions from 20:00 on Sunday April 16, SMM learned.On top of current non-heating season cutbacks, a further cut of 50%in output was imposed on sintering machines. Coke ovens were required to prolong co...Read More
SHANGHAI, Apr 16 (SMM) – In an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area this week, Tangshan city has initiated measures to cut emissions from 20:00 on Sunday April 16, SMM learned.On top of current non-heating season cutbacks, a further cut of 50%in output was imposed on sintering machines. Coke ovens were required to prolong co...Read More