China's ferrous futures continued to retreat across the board on Thursday morning April 12, with the benchmark coking coal and coke contracts leading the way in percentage terms.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,386 ($539) per tonne, down 22 yuan per tonne October hot-rolled coil: 3,477 yuan per tonne, down 20 yuan per tonne Dalian Commodity Exchan...Read More
Turkish domestic rebar and wire rod prices went down slightly, on a US dollar basis, due to the weakening lira, sources said on Thursday April 12.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $570-580 per tonne ex-works, narrowing down on the top end of the range from the $570-590 per tonne assessed last week.The domestic rebar prices in the...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarEgypt, domestic (Ezz Steel), rebar, offered at E ?12,528 ($708) per tonne...Read More
Turkish steel producers have resumed their bookings for May shipments and prices started to rebound on Thursday April 12.Three deep-sea cargo trades were heard on Thursday, although the deals had been made late on Wednesday, according to market sources.A steel mill in the Marmara region booked a European cargo, comprising 19,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded and 11,000 tonnes...Read More
Iron ore prices continued to weaken on Thursday April 12, tracking the decline in China's steel market.Metal Bulletin 62% Fe Iron Ore Index: $64.47 per tonne cfr Qingdao, down by $0.32 per tonneMetal Bulletin 58% Fe Premium Index: $52.26 per tonne cfr Qingdao, down by $0.25 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, unchangedMetal Bulletin 62% Fe China Port Price...Read More
China's ferrous futures continued to retreat across the board on Thursday morning April 12, with the benchmark coking coal and coke contracts leading the way in percentage terms.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,386 ($539) per tonne, down 22 yuan per tonne October hot-rolled coil: 3,477 yuan per tonne, down 20 yuan per tonne Dalian Commodity Exchan...Read More
Turkish billet prices for domestic, export and import trades have all continued to fall over the past week amid sluggish demand, sources told Metal Bulletin on Thursday April 12.CIS-region billet suppliers have continued to lower their offers to Turkey since last week, citing the fall in Chinese export billet prices as well as a slump in import scrap prices in Turkey earlier in the week.They were...Read More
Domestic rebar prices in Egypt fell this week while demand remained low, sources told Metal Bulletin on Thursday April 12.The country's biggest producer, Ezz Steel, is currently offering rebar at E ?12,528 ($708) per tonne ex-works, including 14% VAT, down from E ?12,790 per tonne ex-works.Beshay Steel, also a major domestic producer, is offering rebar at...Read More
China's domestic rebar prices declined again on Thursday April 12 with sellers attempting to destock to cut their losses.Domestic Eastern China (Shanghai): 3,630-3,680 yuan ($578-586) per tonne, down 30 yuan per tonne Northern China (Beijing): 3,660-3,690 yuan per tonne, down 40 yuan per tonne Stockists made a bid to get their inventories down before their value decreases further, cutting prices t...Read More
Import prices for stainless steel in East Asia rose over the past week with Chinese suppliers maintaining their high offers amid costlier nickel, although there was no considerable uptick in demand.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,100-2,230 per tonne cif East Asian ports for the week ended Wednesday April 11, up $20-100 per tonne...Read More
SHANGHAI, Apr 12 (SMM) – Nonferrous metals futures were weaker for the most part except for SHFE nickel. Zinc plunged nearly 3.6%, copper lost over 1%, tin fell almost 1%, while aluminium and lead slipped.The ferrous complex also closed lower, except for hot-rolled coil. Coking coal slid nearly 4%, coke dropped 3%, iron ore fell nearly 1%, and rebar edged down.Copper: SHFE copper was dragged...Read More
SHANGHAI, Apr 12 (SMM) – Nonferrous metals futures were weaker for the most part except for SHFE nickel. Zinc plunged nearly 3.6%, copper lost over 1%, tin fell almost 1%, while aluminium and lead slipped.The ferrous complex also closed lower, except for hot-rolled coil. Coking coal slid nearly 4%, coke dropped 3%, iron ore fell nearly 1%, and rebar edged down.Copper: SHFE copper was dragged...Read More
SHANGHAI, Apr 12 (SMM) – Nonferrous metals futures were weaker for the most part except for SHFE nickel. Zinc plunged nearly 3.6%, copper lost over 1%, tin fell almost 1%, while aluminium and lead slipped.The ferrous complex also closed lower, except for hot-rolled coil. Coking coal slid nearly 4%, coke dropped 3%, iron ore fell nearly 1%, and rebar edged down.Copper: SHFE copper was dragged...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Index futures were virtually unchanged following release of the Weekly Jobless Report at 8:30 AM EDT. Consensus was 230,000 versus 242,000 last week. Actual was 233,000.Delta Airlines added $1.33 to $52.80 after reporting higher than consensus first quarter earnings.Blackrock gained $6.6...Read More
China's vehicle production and sales continued to rise on an annual basis in March. The country produced 2.68 million vehicles last month, up 1.2% from a year earlier. Sales rose 4.7% year on year to 2.66 million units, according to data released...Read More
SHANGHAI, Apr 12 (SMM) – Auto producers in China are not expected to be short of the “credits” needed to operate in the country after 2020 as more new-energy vehicles are produced, according to Mo Ke, chief analyst at RealLi Research.Carmakers in China that sell over 30,000 units annually must earn “credits” equivalent to 10% of their output and imports. Those who fai...Read More
SHANGHAI, Apr 12 (SMM) – China’s new-energy vehicles sales in the first quarter more than doubled year on year as the country sees actual demand grow, according to China Association of Automobile Manufacturers (CAAM).The country saw 143,000 units of new-energy vehicle sales during January-March, up 154% from the first quarter of last year. Output stood at 150,000 units, up 157% ye...Read More
SHANGHAI, Apr 12 (SMM) – SHFE zinc tumbled during the day and touched a low at 23,605 yuan/mt on Thursday April 12 despite better fundamentals since the start of this month.This is mainly because sentiment turned bearish when market talk suggested China’s State Reserve Bureau may release 50,000-60,000 mt of zinc ingot to be received by some state-owned enterprises.Speculative investors...Read More
SHANGHAI, Apr 12 (SMM) – High-nickel ternary cathode materials are expected to lead the market by 2025 with surging demand, according to She Shengxian, research and development manager at Ningbo Ronbay Material.This is due to its “exceptional performance” in terms of capacity, circulation, discharge rate, and resistance to high temperature, he told delegates at the SMM CoLiNi Sum...Read More
Base metals traded on the London Metal Exchange experienced downward pressure this morning, Thursday April 12, with the complex posting an average loss of 1.0% amid robust volumes. Zinc is down the most with a 2.3% decline, while tin (-0.1%) is the most resilient. The downward pressure across the industrial metals is being driven by a fragile risk appetite in Asia, evident in domestic equity losse...Read More