The 25% import tariffs on steel products imposed by the United States government will have a minimal effect on exports by steelmaker CSN but could disturb the domestic market in Brazil, the flat steel producer said on Wednesday March 14.The company exported 350,000 tonnes of steel products to the US last year, which was 6% of its total output, chief executive officer Benjamin Steinbruch said. But...Read More
UK long steel producer British Steel has won a contract to supply German railways operator Deutsche Bahn with 20,000 tonnes per year of rail, the company said on Wednesday March 14.In order to produce the 120-meter-long rail segments required by Deutsche Bahn, British Steel last year invested ?1 million ($1.39 million) to enhance its rail and sections mill in Scunthorpe, in eastern England.The tw...Read More
Key data from the Wednesday March 14 pricing session in Europe. Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeTodayPreviousChange to midpoint of rangeMidpoint % change 4.8-5.404.8-5.3-0.051% Titanium scrap turnings, unprocessed (max 0.5% Sn) $ per lb, cif European ports Titanium scrap turnings, unprocessed (0.5-2% Sn) $ per lb, cif European ports...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday March 14:The following Metal Bulletin noble alloys and ores prices changed on Wednesday March 14:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.85-12.95 per lb from $12.90-13.10 Ferro-molybdenum basis...Read More
The following Metal Bulletin minor metals prices changed on Wednesday March 14:Minor metals Bismuth MB free market, $/lb: $5.20-5.40 per lb from $5.10-5.40 Cadmium MB free market min 99.99%, cents/lb: 150-170 per lb from 145-165 Cobalt MB free market high...Read More
Atlas Iron is moving into the export market for manganese ore as prices continue to rally, the company said.The Australian iron ore producer will purchase and export up to 100,000 tonnes of manganese lump over a four-month period High-grade manganese ore prices have gained 24% since the start of 2018 on soaring demand from China. Metal Bulletin's 44% manganese ore index, cif Tianjin rose 14.5% in...Read More
Weakening demand for rebar in the Turkish domestic and export markets has kept Turkish steel producers out of the deep-sea scrap markets, sources said on Wednesday March 14.Turkish steel producers paused their deep-sea scrap purchases after the Section 232 import tariffs were officially signed into effect in the United States, adding a 25% import duty on all steel product imports, exempting only C...Read More
The latest metal markets news and price moves to start the North American day on Wednesday March 14. Base metals prices on the London Metal Exchange were higher across the board this morning, following better-than-expected data releases from China. The base metals are building on Monday's rally with nickel hitting above $14,020 per tonne for the first time in March, while copper recovered back abo...Read More
Iron ore prices rebounded by close to $2 per tonne on Wednesday March 14 after demand picked up in the wake of prices falling below $70 per tonne cfr China a day earlier. Metal Bulletin's 62% Fe Iron Ore Index Today: $71.64 per tonne cfr Qingdao Daily change: up by $1.86 per tonne Month-to-date average: $74.13 per tonne Metal Bulletin's 58% Fe Premium Index Today: $57.56 per tonne cfr Qingdao Dail...Read More
The seaborne iron ore market appears to have regained some stability on Wednesday March 14 after a two-week decline, with a few big trading companies bottom-fishing for high-grade products after prices fell below $70 per tonne cfr China.Key drivers Sources at several major trading companies said they were looking to buy April-delivery cargoes of Pilbara Blend fines and lumps as well as a few for d...Read More
The seaborne coking coal market continued to be under pressure due to the amply supply of cargoes. Two more cargoes of premium low-vol materials transacted at around $220-221 per tonne cfr China, sources said on Wednesday March 14. Offer price for a premium brand was also heard lowered to around, $215-216 per tonne cfr China, which is around $10-11 per tonne lower than...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio...Read More
China's ferrous futures picked up on Wednesday March 14 amid the release of data from the National Bureau of Statistics (NBS) showing an increase in the country's crude steel output in January to February.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,736 yuan ($590.60) per tonne, up 46 yuan per tonne May hot-rolled coil: 3,855 yuan per tonne, up 52 yuan per tonne...Read More
Comex copper prices hit a multi-week high in Wednesday morning trading in the United States after the publication of positive Chinese data.Copper for May settlement on the Comex division of the New York Mercantile Exchange climbed 4.7 cents or 1.5% to trade recently at $3.1850 per lb Earlier this morning, China's industrial production grew 7.2% year on year in January-February 2018, a full percent...Read More
Base metals prices on the London Metal Exchange were higher across the board on Wednesday March 14, following better-than-expected data releases from China.The base metals are building on Monday's rally with nickel hitting above $14,020 per tonne for the first time in March, while copper recovered back above $7,000 per tonne. "The Chinese data released today was a beat and signalled a more robust...Read More
Beijing Jiya Semiconductor Material Co. Ltd is planning to remove its temporary suspension on spot gallium sales during a board meeting this week, market participants tell Metal Bulletin.Biggest shareholder AXT and board members from the US and Hong Kong will decide at the meeting who to supply to and how much to supply, sources said.But it's anticipated that around 10 tonnes might be released fro...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Friday March 14 pricing session in Shanghai.Cobalt Metal MB China domestic min 99.8% RMB/tonne Key drivers: Metal Bulletin's China cobalt price was 630,000-655,000 yuan per tonne (equivalent to $38.64-40.17 per lb ex-China VAT) on March 14, unchanged from the previous pricing session. Spot quotations for popular domestic brands have jumped by more than 10,000...Read More
All MB non-ferrous UK scrap and foundry ingot prices were unchanged on Wednesday March 14.NB: prices...Read More
Although not a fall from grace, the U.S. dollar lost further ground today in response to the departure of the U.S. Secretary of State Rex Tillerson, as well as the CPI data report. Now for the third consecutive day, the U.S. dollar has traded under pressure to close lower on the day, as well as containing a lower low and lower high than the previous session.As of 4:00 PM Eastern standard time, the...Read More