Imports prices for flat steel products in South America fell back this week after the recent upsurge, with buyers resisting high prices."Chinese mills are trying to raise prices further, but bids are coming at lower levels, forcing firms to back off," a Brazil-focused trader said.Metal Bulletin's weekly price assessment for hot-rolled coil (HRC) imports into South America declined to $640-650 per...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Once again, Metal Bulletin's team has written extensively about the effects of the United States government's recent decision to impose tariffs of 25% on steel imports. Reactions from global economies, the effect on US prices and market comments were all analyzed. You can find a summary of these analyse...Read More
Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More
Indian local secondary billet prices recovered from a steep fall in the first two days of the current week to go up by about 700 rupees per tonne over the past three days on rising finished product prices.Prices for Indian domestic secondary billet, mainly produced via the induction furnace route, ended the week at 33,000-33,400 rupees ($508-514) per tonne ex-mill, narrowing from Metal Bulletin's...Read More
Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More
Global scrap prices remained generally stable except in Taiwan during the working week from Monday March 12 to Friday March 16, amid the uncertainty created by the implementation of Section 232 tariffs in the United States and widespread weak demand for finished steel products.Turkish steel mills have stepped back from the deep-sea scrap markets since the end of the last week and have made no sign...Read More
Trades of ferrous scrap in containers to India have declined sharply this week, amid worries about the knock-on effect of the steel import tariffs being imposed in the United States, sources said on Friday March 16.Buying activity for shredded scrap in containers was steady at the beginning of the week, and at high prices. Toward the end of the week, activity cooled off dramatically although price...Read More
Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More
Indian local secondary billet prices recovered from a steep fall in the first two days of the current week to go up by about 700 rupees per tonne over the past three days on rising finished product prices.Prices for Indian domestic secondary billet, mainly produced via the induction furnace route, ended the week at 33,000-33,400 rupees ($508-514) per tonne ex-mill, narrowing from Metal Bulletin's...Read More
India's Aarti Steel has restarted its continuous caster in Cuttack, Orissa, after stopping operations for a revampThe two-strand continuous caster will now be able to produce bloom sections measuring 240 x 280 mm and 250 x 320 mm. It had previously only been able to cast sections measuring 125, 160 and 200 square mm.It has a 200,000 tpy capacity and a casting radius of nine metres.Aarti Steel has...Read More
The base price assessments for flat and long stainless steel products in Europe widened upward this week despite continued import pressure, sources told Metal Bulletin on Friday March 16.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,050-1,130 ($1,296-1,395) per tonne delivered in Northern Europe, marginally up from ?,?1,050-1,100 per t...Read More
Domestic stainless steel prices in China continued to slide over the past week with stockists making a push to destock.Metal Bulletin's assessment of prices for benchmark 304 stainless CRC in the major market of Wuxi was 14,500-15,300 yuan ($2,294-2,420) per tonne including VAT for the week ended Thursday March 15, widening downward from 14,600-15,300 yuan per tonne a week earlier. Stockists have...Read More
Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More
SHANGHAI, Mar 16 (SMM) – Nonferrous metals regained some losses in this afternoon but remained weak at the end of the day. SHFE aluminium, zinc, and lead inched up, while copper, nickel, and tin dropped slightly. The ferrous complex saw mixed trading today as iron ore led losses with a drop over 1%. Rebar and coke edged down, while hot-rolled coil and coking coal inched up.Copper:...Read More
SHANGHAI, Mar 16 (SMM) – Nonferrous metals regained some losses in this afternoon but remained weak at the end of the day. SHFE aluminium, zinc, and lead inched up, while copper, nickel, and tin dropped slightly. The ferrous complex saw mixed trading today as iron ore led losses with a drop over 1%. Rebar and coke edged down, while hot-rolled coil and coking coal inched up.Copper:...Read More
SHANGHAI, Mar 16 (SMM) – Nonferrous metals regained some losses in this afternoon but remained weak at the end of the day. SHFE aluminium, zinc, and lead inched up, while copper, nickel, and tin dropped slightly. The ferrous complex saw mixed trading today as iron ore led losses with a drop over 1%. Rebar and coke edged down, while hot-rolled coil and coking coal inched up.Copper:...Read More
Today is Quadruple Witching Day on Wall Street: the last trade day for March index and equity options and futuresU.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point in pre-opening trade. Index futures were virtually unchanged following release of the U.S. February Housing Starts report. Consensus was a drop to 1.264 million units from 1.329 million units in Janua...Read More
Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More
SHANGHAI, Mar 16 (SMM) ? 1/4 ? To promote new energy cars, Xining city of Qinghai province will build 1,000 more charging stations for new energy cars in 2018, and to gradually replace all petrol- and diesel-powered taxis with electric ones, SMM learned from local authorities.The charging stations were introduced to Xining in 2016. At the end of 2017, there were 1,034 charging stations across 16 p...Read More
SHANGHAI, Mar 16 (SMM) ? 1/4 ? To promote new energy cars, Xining city of Qinghai province will build 1,000 more charging stations for new energy cars in 2018, and to gradually replace all petrol- and diesel-powered taxis with electric ones, SMM learned from local authorities.The charging stations were introduced to Xining in 2016. At the end of 2017, there were 1,034 charging stations across 16 p...Read More