The European Steel Association, Eurofer, has welcomed the European Commission's pledge of "appropriate and swift measures" after the United States finally announced Section 232 trade tariffs.US president Donald Trump announced the imposition of import duties of 25% on steel and 10% aluminium on March 1. "We welcome the [EC] announcement [that] appropriate and swift measures will be taken...Read More
Stainless steel prices in China's domestic market decreased slightly over the past week due to high inventories. Metal Bulletin's assessment of prices for benchmark 304 stainless CRC in the major market of Wuxi was 14,700-15,300 yuan ($2,315-2,409) per tonne including VAT for the week ended Thursday March 1, down 100-200 yuan per tonne from a week earlier. Spot market inventory levels have increas...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday March 2:Aluminium scrap Floated Frag: ?,?1,280-1,310 per tonne from ?,?1,300-1,330 Cast:...Read More
Import prices for containerized heavy melting scrap (HMS) in Taiwan increased further this week on expectations of the United States' Section 232 steel import tariffs resulting in lower supply of the steelmaking raw material.There was also some tightness in supply in the spot market because traders and US suppliers withheld cargoes in anticipation of higher prices in the coming weeks. Metal Bullet...Read More
The Mexican steel association, Canacero, has called on the federal government to take "reciprocal measures" against the United States if it imposes a 25% duty on steel imports from Mexico. "Canacero expresses concern and it expects immediate reciprocal measures from our government if our country is included in the [232] measures," the association said late on Thursday March 1.The US recorded a ste...Read More
Vietnamese re-rollers are fretting over a 25% import tariff that the United States is set to impose on steel imports, expecting them to reduce the volumes of finished flat products that they can ship there, market sources told Metal Bulletin on Friday March 2.This could in turn result in a supply glut of flat steel in Asia, they warned."Vietnamese re-rollers are growing increasingly worried and th...Read More
The European Steel Association, Eurofer, has welcomed the European Commission's pledge of "appropriate and swift measures" after the United States finally announced Section 232 trade tariffs.US president Donald Trump announced the imposition of import duties of 25% on steel and 10% aluminium on March 1. "We welcome the [EC] announcement [that] appropriate and swift measures will be taken...Read More
The Mexican steel association, Canacero, has called on the federal government to take "reciprocal measures" against the United States if it imposes a 25% duty on steel imports from Mexico. "Canacero expresses concern and it expects immediate reciprocal measures from our government if our country is included in the [232] measures," the association said late on Thursday March 1.The US recorded a ste...Read More
Vietnamese re-rollers are fretting over a 25% import tariff that the United States is set to impose on steel imports, expecting them to reduce the volumes of finished flat products that they can ship there, market sources told Metal Bulletin on Friday March 2.This could in turn result in a supply glut of flat steel in Asia, they warned."Vietnamese re-rollers are growing increasingly worried and th...Read More
The European Steel Association, Eurofer, has welcomed the European Commission's pledge of "appropriate and swift measures" after the United States finally announced Section 232 trade tariffs.US president Donald Trump announced the imposition of import duties of 25% on steel and 10% aluminium on March 1. "We welcome the [EC] announcement [that] appropriate and swift measures will be taken...Read More
TOKYO, March 2 (Reuters) - Toyota Motor Corp saidon Friday U.S. tariffs on imported steel and aluminum wouldsubstantially raise costs and therefore prices of cars andtrucks sold in America. "The (U.S.) Administration's decision to impose substantialsteel and aluminum tariffs will adversely impact automakers, theautomotive supplier community and consumers," the automaker toldReuters. Toyo...Read More
WASHINGTON, March 1 (Reuters) - The U.S. Commerce Departmentsaid on Thursday it made a final antidumping and countervailingduty determination to impose duties on imports of silicon metalfrom Australia, Brazil, Norway and Kazakhstan. The department said it imposed antidumping duties of 41.73percent to 51.28 percent for imports from Australia, 68.97percent to 134.92 percent for imports from Brazil,...Read More
(Updates with comment from chief Canadian negotiator) By David Ljunggren and Dave Graham MEXICO CITY, March 1 (Reuters) - Negotiators trying torework the NAFTA trade deal on Thursday were hit by the prospectof conflict over U.S. steel tariffs that could complicatecarmaking in North America, one of the most sensitive issues atthe talks. U.S. President Donald Trump said he would impose the tariffsbe...Read More
Gold futures started off the day trading under enormous pressure overseas, which continued during the morning trading session in New York. These depressed prices were in tandem with falling stock prices here in the United States.In trading today, gold futures (April 2018 Comex contract) sank to $1,303.60 before staging an impressive recovery. As of 3:40 PM Eastern standard time, gold is currently...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
The latest news and price moves to start the Asian day on Thursday March 1.Base metals prices on the London Metal Exchange fell across the board at the close on Wednesday February 28, with the complex under pressure from the resurgent dollar, which hit its highest level since January 19. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has lea...Read More
The latest news and price moves to start the Asian day on Thursday March 1.Base metals prices on the London Metal Exchange fell across the board at the close on Wednesday February 28, with the complex under pressure from the resurgent dollar, which hit its highest level since January 19. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has lea...Read More
Noranda is seeking to ship its bauxite directly from Jamaica instead of transferring it from Panamax into Capesize vessels in Trinidad, a move that will shave several dollars off the cost of transportation, a senior Noranda Bauxite and Alumina executive said at Metal Bulletin's Bauxite & Alumina conference in Jamaica. According to Chris Young, vice president of sales and marketing, it costs around...Read More