Turkish steel producers have resumed their deep-sea scrap purchases following the recent sharp decrease in prices, sources said on Tuesday April 3.A steel producer in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded, 5,000 tonnes of a mixture of HMS 1 and plate and structural scrap (P&S), and 5,000 tonnes of new cuttings, at an aver...Read More
Comex copper prices sustained momentum in the US morning on Tuesday April 3 with the fundamental outlook optimistic for the remainder of the year. Copper for May settlement on the Comex division of the New York Mercantile Exchange ticked up 0.10 cents or 0.1% to $3.0510 per lb. "While it is too early to assert that the rebound in copper will last, we think the bull market in copper will prevail th...Read More
The latest metal markets news and price moves to start the North American day on Tuesday April 3. Base metals prices were firmer on the London Metal Exchange today, extending gains from before the long Easter weekend at the start of the second quarter, the peak season for metals demand.Aluminium's three-month price, which bucked the uptrend on Thursday and dropped 1.5%, was recovering today and cl...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Tuesday April 3.Base metals traded on the Shanghai Futures Exchange took divergent paths during Asian morning trading on Tuesday, with copper consolidating after its push higher over the past week.The most-traded copper contract on the SHFE was at 50,550 yuan ($8,048) per tonne as of 10.53...Read More
Base metals prices diverged on the London Metal Exchange at the close of trading on Tuesday April 3, with copper rising but aluminium dropping below $2,000 per tonne for the first time since August 2017.The complex started the day on a firm note before paring gains and moving back into the red near the close."The Chinese manufacturing numbers held up quite well, which was supportive, and the metal...Read More
Comex copper prices sustained momentum in the US morning on Tuesday April 3 with the fundamental outlook optimistic for the remainder of the year. Copper for May settlement on the Comex division of the New York Mercantile Exchange ticked up 0.10 cents or 0.1% to $3.0510 per lb. "While it is too early to assert that the rebound in copper will last, we think the bull market in copper will prevail th...Read More
Seaborne iron ore prices weakened slightly on Tuesday April 3 amid a subdued futures market, though buying interest appears to have increased. Metal Bulletin 62% Fe Iron Ore Index: $63.76 per tonne cfr Qingdao, down by $2.04 per tonne Metal Bulletin 58% Fe Premium Index: $52.09 per tonne cfr Qingdao, down by $0.40 per tonne Metal Bulletin 65% Fe Iron Ore Index: $81.50 per tonne cfr Qingd...Read More
Turkish domestic scrap prices have fallen over the past week amid weakening imported scrap prices, sources said on Tuesday April 3.Metal Bulletin's weekly price assessment for domestic auto bundle (DKP grade) scrap in Turkey was TRY1,270-1,500 ($320-378) per tonne delivered, down from last week's TRY1,300-1,520 per tonne.A number of steel mills and a major scrapyard have reduced their buy prices f...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia are expected to fall this week although some deals have been heard, sources told Metal Bulletin on Tuesday April 3.Demand was moderate in the UAE but continued to be weak in Saudi Arabia.UAEA cargo of 3,000 tonnes of hot-rolled coil (HRC) was booked at $620 per tonne cfr from China, while offers from the same origin were heard a...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 3.Please click...Read More
Industry veteran Andy Otto has joined Stratton Metals Ltd as a senior trader. Otto brings 30 years of experience in the metal markets, working as a...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday April 3Copper -$63.53 (-400.19 yuan) Aluminium -$297.36 (-1,873.02 yuan) Zinc -$115.32 (-726.37 yuan) Nickel -$620.14 (-3,906.17 yuan) *The physical arbitrage numbers...Read More
The latest metal markets news and price moves to start the North American day on Tuesday April 3. Base metals prices were firmer on the London Metal Exchange today, extending gains from before the long Easter weekend at the start of the second quarter, the peak season for metals demand.Aluminium's three-month price, which bucked the uptrend on Thursday and dropped 1.5%, was recovering today and cl...Read More
Base metals prices were firmer on the London Metal Exchange on Tuesday April 3, extending gains from before the long Easter weekend at the start of the second quarter, the peak season for metals demand.Aluminium's three-month price, which bucked the uptrend on Thursday and dropped 1.5%, was recovering today and climbing back over $2,000 per tonne.With speculation over trade wars continuing to moun...Read More
Colombian steel producers Ternium and Corpacero have requested an investigation of the country's safeguards against imports of corrugated galvanized steel sheets from all origins.Their request was made on March 16, and was published on the website of the Colombian ministry of trade, industry and tourism on March 26.The domestic sector that produces...Read More
Indian steelmaker JSW and commodities conglomerate Vedanta Resources have launched competing bids to acquire insolvent steelmaker Essar Steel India, sources told Metal Bulletin on Tuesday April 3.Vedanta confirmed to Metal Bulletin that it is bidding for the asset, while JSW said in a filing to the Bombay Stock Exchange (BSE) that it is bidding with consortium Numetal Mauritius in a joint attempt...Read More
The purchasing managers' index (PMI) for the Eurozone manufacturing sector fell to an eight-month low due to a slowdown in growth across all nations, according to data organization IHS Markit on Tuesday April 3. The final rating for March stood at 56.6, down from 58.6 in February, after the sector experienced its third month of consecutive drops since a record high of 60.6 in December 2017. Anythi...Read More
Prices for imported billet in the United Arab Emirates were unchanged this week, while import rebar prices fell, sources told Metal Bulletin on Tuesday April 3. Demand for imported rebar in both the UAE and Saudi Arabia remained weak. Domestic rebar The major rebar producers in the UAE announced new rebar prices on March 26. The biggest steel producer, Emirates Steel, increased its rebar...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export,...Read More
India's Tata Steel hit a peak hot-metal output of 10.95 million tonnes in the financial year ending March 2018 at its blast furnaces in Jamshedpur, compared with 10.83 million tonnes a year ago.It also achieved its best ever saleable steel production of 9.78 million tonnes in the financial year ending March 2018, compared to 9.7 million tonnes in the same period last year, the company said last we...Read More