Turkish steel producers remained quiet in the scrap markets on Tuesday April 10, amid a sharp weakening of the Turkish lira against the US dollar and uncertainty in the finished steel export markets.Turkish steel mills booked a number of deep-sea cargoes for April and May last week before stepping back from the deep-sea markets at the end of the week.Market participants were expecting Turkish mill...Read More
Iron ore trading activity picked up on Tuesday April 10 amid futures and steel gains, but buyers have remained cautious.Metal Bulletin 62% Fe Iron Ore Index:$65.30 per tonne cfr Qingdao, up by $1.35 per tonneMetal Bulletin 58% Fe Premium Index:$52.75 per tonne cfr Qingdao, up by $0.54 per tonneMetal Bulletin 65% Fe Iron Ore Index: $82.70 per tonne cfr Qingdao, up by $1 per tonneMetal Bulletin 62%...Read More
China's ferrous futures were largely flat during morning trading on Tuesday April 10 after gains during the previous night's session.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,423 ($543) per tonne, unchanged October hot-rolled coil: 3,523 yuan per tonne, unchanged Dalian Commodity Exchange September iron ore: 451 yuan per tonne, down 1 yuan per tonne Septem...Read More
Prices for imported steel billet in the United Arab Emirates decreased this week, while rebar prices were stable, sources told Metal Bulletin on Tuesday April 10.Demand for imported rebar in both the UAE and Saudi Arabia remained weak.Domestic rebarThe major rebar producers in the UAE announced new rebar prices on March 26.The biggest steel producer, Emirates Steel, increased its rebar price to 2,...Read More
China has requested consultations with the United States at the World Trade Organization (WTO) regarding tariffs on China-origin steel and aluminium goods, the WTO said on Tuesday April 10.China made the request after the US government imposed a 25% import duty on certain steel products and a 10% import duty on aluminium products from March 23, with further possible adjustments to additional impor...Read More
China's domestic rebar prices bounced back on Tuesday April 10 following gains in the billet market. Domestic Eastern China (Shanghai): 3,650-3,700 yuan ($579-586) per tonne, up 30-40 yuan per tonne Northern China (Beijing): 3,700-3,740 yuan per tonne, up 30-40 yuan per tonne The price of billet rose 50 yuan per tonne during the day due to active trading, which improved sentiment in the rebar mark...Read More
The European ferro-vanadium market retreated last week while traders sold cheaper in order to take profits amid quieting spot demand. European ferro-vanadium market slides while traders take profits European V2O5 prices strengthen on lack of availability US ferro-vanadium market flat lines with market falling dormantSpot prices for European ferro-vanadium slipped to $69-72 per kg on April 6, deliv...Read More
A potential ban on Chinese steel imports by Taiwan could disrupt trade flows in Asia, with the stainless steel segment set to be hardest hit, market sources told Metal Bulletin this week."The ban is necessary so that Taiwan can start negotiations with the United States to be exempted from the [country's] Section 232 tariffs [on steel and aluminium imports]," a Taiwanese trader said.Several industr...Read More
China has requested consultations with the United States at the World Trade Organization (WTO) regarding tariffs on China-origin steel and aluminium goods, the WTO said on Tuesday April 10.China made the request after the US government imposed a 25% import duty on certain steel products and a 10% import duty on aluminium products from March 23, with further possible adjustments to additional impor...Read More
Fragile,...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.S...Read More
Mexican car production fell by 10.90% year-on-year in March, according to figures released by national automotive association, Amia, on Monday April 9.The country produced 331,109 vehicles last month, compared with 371,447 vehicles in the same month a year earlier.The reduction was mainly due to the lower number of working days in March 2018, which also affected domestic sales, Amia...Read More
Price initially fell as Trump considered...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
SHANGHAI, Apr 10 (SMM)? 1/4 ?Nonferrous metals closed higher across the board on Tuesday April 10 except for SHFE lead. Nickel rose close to 2%, copper gained over 1% and aluminium inched up close to 1%. Zinc and tin edged higher.The ferrous complex also climbed, except for coking coal. Iron ore increased over 2%, hot-rolled coil gained 1.8%, rebar rose over 1% and coke edged up.Copper: As shorts...Read More
SHANGHAI, Apr 10 (SMM)? 1/4 ?Nonferrous metals closed higher across the board on Tuesday April 10 except for SHFE lead. Nickel rose close to 2%, copper gained over 1% and aluminium inched up close to 1%. Zinc and tin edged higher.The ferrous complex also climbed, except for coking coal. Iron ore increased over 2%, hot-rolled coil gained 1.8%, rebar rose over 1% and coke edged up.Copper: As shorts...Read More
SHANGHAI, Apr 10 (SMM)? 1/4 ?Nonferrous metals closed higher across the board on Tuesday April 10 except for SHFE lead. Nickel rose close to 2%, copper gained over 1% and aluminium inched up close to 1%. Zinc and tin edged higher.The ferrous complex also climbed, except for coking coal. Iron ore increased over 2%, hot-rolled coil gained 1.8%, rebar rose over 1% and coke edged up.Copper: As shorts...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 28 points in pre-opening trade. Index futures are responding to news that China is willing to negotiate on trade. U.S. equity index futures were virtually unchanged following release of the March Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 0.2% in February. Actual was an incr...Read More
China has requested consultations with the United States at the World Trade Organization (WTO) regarding tariffs on China-origin steel and aluminium goods, the WTO said on Tuesday April 10.China made the request after the US government imposed a 25% import duty on certain steel products and a 10% import duty on aluminium products from March 23, with further possible adjustments to additional impor...Read More
Aluminium LME aluminium has rebounded remarkably over the past...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus...Read More
SHANGHAI, Apr 10 (SMM) – Social inventories of zinc in Shanghai, Guangdong and Tianjin fell from 220,800 mt on Monday April 2 and stood at 212,900 mt as of Monday April 9, SMM data showed.Social inventories in Guangdong and Tianjin grew, while those in Shanghai shrank as maintenance works at smelters lowered output and as downstream consumption picked up.After a four-week consecuti...Read More
SHANGHAI, Apr 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar edged down 0.3% to 89.83 overnigh as euro climbed up. Most base metals rose. SHFE nickel rose close to 2%, aluminium increased over 1%, copper gained 0.7%, and zinc and tin inched up. SHFE and LME lead edged down. LME zinc dropped close to 1%, while coppe...Read More