Due to a change in publication time by the London Bullion Market Association (LBMA) to midnight on the day of publication, the daily LBMA gold and silver prices will be published by Metal Bulletin on the following day. The change will apply to the prices below from April 1, 2018: Gold London Morning Daily Price $ per troy oz Gold London Morning Daily price ? per troy oz Gold London Afternoon...Read More
Movements in flat steel import prices in the United Arab Emirates and Saudi Arabia varied by commodity this week but overall demand was still not strong, sources told Metal Bulletin on Tuesday March 13.UAEHot-rolled coil (HRC) was being offered to the UAE at $620-630 per tonne cfr from China and at $640-650 per tonne cfr from India, while buyers were bidding $620-630 per tonne cfr.Metal Bulletin's...Read More
China's export prices for hot-rolled coil declined at a slower pace on Tuesday March 13 with the domestic market appearing to regain some stability amid increased buying.DomesticEastern China (Shanghai): 3,940-3,960 yuan ($622-626) per tonne, narrowed downward by 20 yuan per tonneNorthern China (Tianjin): 3,880-3,900 yuan per tonne, unchangedA pick-up in trading activity in both Shanghai and Tianj...Read More
China's ferrous futures mostly remained subdued during morning trading on Tuesday March 13.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,712 yuan ($586.40) per tonne, down 10 yuan per tonne May hot-rolled coil: 3,822 yuan per tonne, down 13 yuan per tonne Dalian Commodity Exchange May iron ore: 479 yuan per tonne, down 1.50 yuan per...Read More
Import volumes of steel products from China into Latin American countries dropped by 50% year-on-year in January, according to figures released by regional steel association Alacero on Tuesday March 13.Latin America imported 412,000 tonnes of steel from China during the month, compared with 822,000 tonnes a year before.Meanwhile, China's total steel exports decreased by 39% to 4.40 million tonnes...Read More
Swiss special and stainless steel producer Schmolz + Bickenbach (S+B) forecasts a rise in special steel long product demand and prices in 2018, the company said after reporting successful results for 2017.Swiss special and stainless steel producer Schmolz + Bickenbach (S+B) forecasts demand and price growth for special steel long products in 2018, the company said after reporting successful result...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: rebarRebar Turkey, export, rebar, offered at $615-620 per tonne cfr on theoretical weight basis, to...Read More
UK ferrous scrap prices for monthly deliveries to consumers in March have rebounded, recovering losses from last month, with the prices of almost all grades up by ?30 per tonne amid firm demand, trade sources told Metal Bulletin this week.Only borings bucked the trend, with the price increasing by only ?25 per tonne.Trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and...Read More
The Turkish steel scrap market remained quiet on Tuesday March 13, with the mills in the country holding back from deep-sea scrap purchases since the end of last week.The mills stepped back from the market after the Section 232 tariffs were officially signed in the United States, imposing a 25% import duty on all steel products. The Turkish mills are now watching the market to see what direction i...Read More
Shorter lead times, smaller volumes and less onerous financing arrangements have seen portside iron ore trading grow in popularity over the past three-to-four years. Portside iron ore prices in China have largely remained at a discount to seaborne levels so far this year amid a slowdown in construction activity and high stock levels.According to estimates from a local information provider in China...Read More
The prices for imported rebar in the United Arab Emirates and Saudi Arabia increased this week with higher offers, but demand for imports was still very low, sources told Metal Bulletin on Tuesday March 13.Demand for locally produced rebar in the UAE, however, remained strong.Domestic rebarThe major rebar producers in the UAE rolled over their prices for March and April production late in February...Read More
China's domestic rebar prices retreated on Tuesday March 13 on losses in the billet and futures markets, after posting a recovery just a day earlier. Domestic Eastern China (Shanghai): 3,790-3,850 yuan ($599-608) per tonne, down 20-30 yuan per tonne Northern China (Beijing): 3,900-3,930 yuan per tonne, down 20-30 yuan per tonne The price of billet fell 40 yuan per tonne late on Monday due to weak...Read More
Import prices for steel billet in Southeast Asia and slab in the wider region encompassing East Asia continued to strengthen over the past week amid fewer offers and thin trading.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $565-575 per tonne cfr for the week ended Monday March 12, narrowing upward by $5 per tonne from $560-575 per tonne cfr a week earlier.Tr...Read More
The manganese ore price-trend outlook was firmly above $8 per dry metric tonne unit (dmtu) on Friday March 9, while producers reckon consumer interest will act as support, though there was a downbeat assessment among consumers. Ore producers say they are sold out through April But Chinese consumers signal otherwise Europe holds, awaits quarterly deals US markets held in rangesMajor manganese ore p...Read More
The Chinese vanadium market edged upward despite limited trading activity, while the European and US ferro-vanadium markets surged on significant supply concerns. Chinese vanadium suppliers raise offers despite limited activity European market surges on increasingly tight supply US ferro-vanadium market strengthens again, supply squeeze supportsChinese ferro-vanadium export prices continued to tre...Read More
Shorter lead times, smaller volumes and less onerous financing arrangements have seen portside iron ore trading grow in popularity over the past three-to-four years. Portside iron ore prices in China have largely remained at a discount to seaborne levels so far this year amid a slowdown in construction activity and high stock levels.According to estimates from a local information provider in China...Read More
The United Kingdom's trade department has said it will work with industry to try and convince the United States to exempt British products from the Section 232 import tariffs.The UK government will be assisting UK industry "as they work with US customers to build their cases for the exemption of individual products" from US president Donald Trump's Section 232 tariffs on imported steel and alumini...Read More
Vietnam's ferrous scrap imports dropped 17% year on year in February, according to the country's Ministry of Finance.The country imported 299,301 tonnes of scrap last month, compared with 359,807 tonnes a year earlier.February's imports were only about half of the 593,119 tonnes of scrap that reached Vietnam's shores in January.Japan and the United States were...Read More
UK ferrous scrap prices for monthly deliveries to consumers in March have rebounded, recovering losses from last month, with the prices of almost all grades up by ?30 per tonne amid firm demand, trade sources told Metal Bulletin this week.Only borings bucked the trend, with the price increasing by only ?25 per tonne.Trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and...Read More
Lead was the strongest performer on the London Metal Exchange on Tuesday March 13 - closing 2.2% higher.8,000 tonnes of lead was freshly cancelled in Antwerp this morning giving fresh support to prices while stocks tighten once again. LME warrants are also tightly held with one entity holding 30-39% of warrant positions."Lead is carrying out some much needed base-building after breaking below $2,4...Read More