Import prices for re-rolling-grade hot-rolled coil sold into Vietnam dropped this week after traders lowered their offers amid China's weakening steel market.Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $630-640 per tonne cfr for the week ended Monday March 12, down $5-10 per tonne...Read More
Italian long steelmaker Pittini has completed the acquisition of the "commercial and logistic facilities" at compatriot steelmaker Ori Martin's Ceprano rebar mill in central Italy, a spokesman confirmed to Metal Bulletin on Monday March 12."The [distribution] center will work in synergy with our other Italian plants in Potenza [in southern Italy], Osoppo, Verona and Nave [in northern Italy]," the...Read More
Kuwait's ministry of finance has increased the duty applied to imports of rebar to 10% from the previous 5%, effective from March 1 this year until the end of February 2019, Metal Bulletin has heard.There is only one rebar producer active in Kuwait, KWT Steel, with capacity for 1.2 million...Read More
Import prices for rebar in Singapore fell over the past week with buyers taking the opportunity to stock up on the long steel product amid a softening Chinese market.Metal Bulletin's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $565-575 per tonne cfr for the week to Monday March 12, down $15 per tonn...Read More
The Turkish steel mills paused their deep-sea scrap purchases on Monday March 12, following the news about the United States applying import duties under Section 232, heard late last week.Market participants were unsure about the future direction of the market after US President Donald Trump used his powers under Section 232 to officially sign the previously announced tariffs on steel and aluminiu...Read More
Demand for imported scrap in Turkey could suffer as a result of the United States applying tariffs on shipments of Turkish steel, a spokeswoman for German steel recycling association BDSV told Metal Bulletin on Monday March 12.Lower demand for Turkish steel in the US under tariffs could lead to a drop in steel production in Turkey and lower scrap demand from the country, the spokeswoman said.Altho...Read More
Turkish domestic scrap prices have moved in varying directions over the past week, with some mills raising their buy prices for auto bundle scrap, while another mill reduced its buy price for ship scrap, sources said on Monday March 12.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) in Turkey was TRY1,260-1,420 ($330-372) per tonne delivered on March 12, widenin...Read More
The reduced availability of steel billet and increased prices for ferrous scrap resulted in the global steel billet market trending mostly upward during the week ended Friday March 9, Metal Bulletin has learnt.CIS, Turkey, North AfricaCIS export billet prices continued to climb during the week, supported by strong demand, lower supply of the semi-finished material and rising scrap costs.Mills were...Read More
CIS export slab prices soared in the week ended Monday March 12 amid reduced availability of the material as well as continuing growth in flat steel prices in customers' own markets.Metal Bulletin's weekly price assessment for CIS export slab was $580-590 per tonne fob Black Sea on Monday March 12, up from $555-565 per tonne fob Black Sea.Ukraine's Metinvest was offering its material to Turkey, on...Read More
CIS export billet prices soared in the week ended Monday March 12 with mills pushing through higher prices amid reduced availability of the material and lively demand.Metal Bulletin's export CIS Billet Index was $551 per tonne fob Black Sea on March 12, up by $17 per tonne week-on-week.Mills were selling material mainly within the range of $540-550 per tonne fob Black Sea.Ukraine's ArcelorMittal K...Read More
The Chinese ferro-silicon spot market slumped over the past week because of slow demand from key consumers in the steel and magnesium sectors.The market will be vulnerable to further losses if there is no upturn in demand in the near term. Chinese demand lags behind supply... ...and domestic prices fall more than 10% Europe price range widens amid uncertainty US market eases, wary of renewed impor...Read More
Base metals prices on the London Metal Exchange were lower across the board at the close on Monday March 12, with overhead selling pressure weakening prices.Lead plummeted 2.7% today as it hit a fresh 2018-low of $2,311 per tonne - the metal failed to hold onto the gains it registered on Friday and lacks significant support. "[Lead] has struggled ever since the 2018-high at $2,685 per tonne due to...Read More
Spot prices for ammonium paratungstate (APT) and tungsten concentrates continued to rise last week when sellers raised their offers or declined to offer at all while Chinese raw materials are in tight supply. APT and oxide supplies continue to tighten while Chinese output slows Sellers decline to offer intermediates due to concerns over replacement cost, availability Profit-taking prompts fall in...Read More
Steel producers in Russia have increased their offers to the domestic markets for April-production hot-rolled (HR) and cold-rolled (CR) sheet, Metal Bulletin has been told.Metal Bulletin's weekly assessment of the price for Russian 4mm HR sheet was 43,000-45,000 roubles ($759-794) per tonne cpt Moscow, including VAT, on Monday March 12, widening upward from 43,000 roubles per tonne a week earlier....Read More
Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States continued to be in bullish mood in the week ended Monday March 12, despite a rapid price decline for China-origin material.Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $610-625 per tonne fob Black Sea on March 12, narrowing upward from $590-625 per tonne fob Black Se...Read More
The latest metal markets news and price moves to start the North American day on Monday March 12.Base metals prices on the London Metal Exchange dipped slightly during morning trading on Monday March 12 while looking to consolidate Friday's rally.Here's how base metals...Read More
SHANGHAI, Mar 12 (SMM) – Nonferrous metals mostly gained today, as SHFE nickel led the increases with a rise of 3%. SHFE copper rose close to 1%. Zinc, tin, and lead inched up. Aluminium dropped over 1%.The ferrous complex continue to fall across the board as coke and coking coal led the slump and closed 4% lower. Iron ore dropped nearly 3%, rebar slipped almost 1%, and hot-rolled...Read More
SHANGHAI, Mar 12 (SMM) – Nonferrous metals mostly gained today, as SHFE nickel led the increases with a rise of 3%. SHFE copper rose close to 1%. Zinc, tin, and lead inched up. Aluminium dropped over 1%.The ferrous complex continue to fall across the board as coke and coking coal led the slump and closed 4% lower. Iron ore dropped nearly 3%, rebar slipped almost 1%, and hot-rolled...Read More
SHANGHAI, Mar 12 (SMM) – Nonferrous metals mostly gained today, as SHFE nickel led the increases with a rise of 3%. SHFE copper rose close to 1%. Zinc, tin, and lead inched up. Aluminium dropped over 1%.The ferrous complex continue to fall across the board as coke and coking coal led the slump and closed 4% lower. Iron ore dropped nearly 3%, rebar slipped almost 1%, and hot-rolled...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. Adobe gained $2.29 to 233.40 after Stifel Nicolaus raised its target price to $230 from $210. E Trade added $0.68 to $57.92 after Raymond James upgraded the stock to Strong Buy from Outperform.Merck added $0.56 to $55.70 after Leerink upgraded the stock to Outperform from Market Perform....Read More