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
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
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Price slide continues as SHFE stocks...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as s...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
The latest metal markets news and price moves to start the North American day on Tuesday March 13. Base metals prices on the London Metal Exchange edged higher during morning trading, with most metals recovering from Monday's lull."The LME complex is a mixed bag with zinc and nickel finding some [arbitrage]-related buying and aluminium [finding] some light consumer demand to help lift [prices] off...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Index futures were moved higher following release of the February Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a revised gain of 0.5% in January. Actual was an increase of 0.2%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of...Read More
Aluminium Aluminium continues to trade within a downtrend channel, but...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.P...Read More
SHANGHAI, Mar 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell to 89.91 following the weak performance of monthly average hourly earnings in the US for February.Base metals edged down from highs across the board. LME aluminium dropped over 1% to a three-month low as China’s winter production limitati...Read More
SHANGHAI, Mar 13 (SMM) – The Shanghai zinc spot market saw less trading today as the 0# common brand zinc traded at a discount of 90-80 yuan/mt, SMM learned.The Shuangyan brand traded at a discount of 30-20 yuan/mt, and 1# zinc traded at 24,980-25,060 yuan/mt at noon. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to ac...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Tuesday March 13.Base metals traded on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Tuesday. Zinc was the only metal to witness any gains, while nickel prices edged downward following their rally on Monday with negative sentiment stemming from a weaker do...Read More
SHANGHAI, Mar 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell to 89.91 following the weak performance of monthly average hourly earnings in the US for February.Base metals edged down from highs across the board. LME aluminium dropped over 1% to a three-month low as China’s winter production limitati...Read More
Last week we attended Metal Bulletin’s...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest iss...Read More
SHANGHAI, Mar 13 (SMM) –Copper: LME copper edged down as prices of crude oil weakened. SHFE copper tested the 52,000 yuan/mt level. We expect copper prices to trade rangebound. In the physical market, spot prices are seen rangebound at a discount of 30 yuan/mt to a premium of 20 yuan/mt today. Aluminium: As SHFE aluminium remains weak, LME aluminum is expected to test the $2,100/mt leve...Read More
SHANGHAI, Mar 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell to 89.91 following the weak performance of monthly average hourly earnings in the US for February.Base metals edged down from highs across the board. LME aluminium dropped over 1% to a three-month low as China’s winter production limitati...Read More
SHANGHAI, Mar 13 (SMM) –Copper: LME copper edged down as prices of crude oil weakened. SHFE copper tested the 52,000 yuan/mt level. We expect copper prices to trade rangebound. In the physical market, spot prices are seen rangebound at a discount of 30 yuan/mt to a premium of 20 yuan/mt today. Aluminium: As SHFE aluminium remains weak, LME aluminum is expected to test the $2,100/mt leve...Read More
Price has weakened further as...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as...Read More
SHANGHAI, Mar 13 (SMM) –Copper: LME copper edged down as prices of crude oil weakened. SHFE copper tested the 52,000 yuan/mt level. We expect copper prices to trade rangebound. In the physical market, spot prices are seen rangebound at a discount of 30 yuan/mt to a premium of 20 yuan/mt today. Aluminium: As SHFE aluminium remains weak, LME aluminum is expected to test the $2,100/mt leve...Read More