Turkish scrap import prices continued to climb on Tuesday February 27 with news of another Baltic Sea cargo sold at the end of last week.Market participants, however, expected prices to go up even further, while suppliers have already increased their offers, Metal Bulletin was told.A steel mill in the Izmir region booked the Baltic Sea cargo late on February 23, comprising 28,000 tonnes of HMS 1&2...Read More
Iron ore prices softened slightly but stayed above $79 per tonne cfr China on Tuesday February 27 after a jump a day earlier. Metal Bulletin's 62% Fe Iron Ore Index Today: $79.15 per tonne cfr Qingdao Daily change: down by $0.21 per tonne Month-to-date average: $77.29 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61.87 per tonne cfr...Read More
Prices for seaborne iron ore were rangebound on Tuesday February 27 after they rose close to the $80-per-tonne level a day earlier. Key drivers Premiums for March-delivery cargoes of Pilbara Blend fines and Newman fines continued to weaken during the day amid an increase in the number of such cargoes being offered on the market and thin buying interest among mills. Several trading sources pegged t...Read More
Local and imported rebar prices in the United Arab Emirates and Saudi Arabia remained unchanged this week although the price of billet imports into the UAE increased, sources told Metal Bulletin on Tuesday February 27.Demand for locally produced rebar in the UAE was still strong.Domestic rebarThe major rebar producers in the UAE rolled over their prices for March and April production last week.The...Read More
China's domestic rebar prices held steady on Tuesday February 27 amid sparse trading, while export prices continued to post strong gains on mills' bullish outlook for the domestic market. Domestic Eastern China (Shanghai): 4,030-4,070 yuan ($638-644) per tonne, unchanged Northern China (Beijing): 4,100-4,140 yuan per tonne, unchanged Trading activity slowed down on Tuesday after Monday's price sur...Read More
Import prices for steel billet in Southeast Asia edged up over the past week while those for slab in the wider region including East Asia experienced sharp gains amid limited offers.Metal Bulletin's assessment of import prices for billet in Southeast Asia was $540-555 per tonne cfr for the week ended Monday February 26, up $5 per tonne from a week earlier.Prices increased after trading activity pi...Read More
The Chinese vanadium market remained sluggish after the Lunar New Year holiday came to an end last week, but the European and US markets continued to strengthen amid supply concerns. China market sluggish after holiday, prices steady Tightness in European market bolsters prices once again US market continues to strengthen on thin supplyChinese vanadium participants were slow in returning to the ma...Read More
ArcelorMittal is planning to invest a further ?,?10 million ($12.31 million) by the end of this year in the expansion of its service center in Neuwied, Germany, the company said on Tuesday February 27.It had already invested ?,?6.5 million this year before the end of February, so that will bring the total for 2018 to ?,?16.5 million.The steelmaker processes flat steel at the site, which mainly com...Read More
Import prices for steel billet in Southeast Asia edged up over the past week while those for slab in the wider region including East Asia experienced sharp gains amid limited offers.Metal Bulletin's assessment of import prices for billet in Southeast Asia was $540-555 per tonne cfr for the week ended Monday February 26, up $5 per tonne from a week earlier.Prices increased after trading activity pi...Read More
Handan, a major steel-producing city in north China's Hebei province, will step up its steelmaking curbs by cutting production by 50-55% until the end of March, according to an official notice from its local government late on Monday February 26. The city, which is among 28 in the country's northern region that are limiting production at 50% of capacity during the winter heating season, which ends...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday February 27, with the dollar index surging to its highest since the start of the month. The three-month copper price closed 1.2% lower and only just held above $7,000 per tonne. Copper's healthy contango and a lack of market tightness are putting pressure on prices. "We think that copper prices are vulnerable...Read More
Tungsten miner W Resources has agreed offtakes for tungsten concentrate produced at its La Parrilla mine in Spain. From early 2019, W Resources will supply 66% WO3 tungsten concentrate to Wolfram Bergbau und H? 1/4 tten and a "leading supplier to the USA tungsten markets," W Resources said. The offtake agreements will account for around 80% of output from the T2 production phase at La Parrilla, an...Read More
The import markets for flat steel products in South American countries were very muted this month because of the Chinese new year holiday, which took place February 15-21.The lack of trading has prevented import values from showing any major changes in the past few weeks, but prices are expected to rise in late February/early March with the arrival of fresh China-origin offers in the market.The la...Read More
Looking...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 it’s published.Su...Read More
Turkish scrap import prices continued to climb on Tuesday February 27 with news of another Baltic Sea cargo sold at the end of last week.Market participants, however, expected prices to go up even further, while suppliers have already increased their offers, Metal Bulletin was told.A steel mill in the Izmir region booked the Baltic Sea cargo late on February 23, comprising 28,000 tonnes of HMS 1&2...Read More
Stocks, dollar trumped Section 232 last...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 a...Read More
Aluminium Aluminium has been on the defensive after support from...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 do...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening comments. Investors are awaiting Federal Reserve Chairman Jerome Powell's testimony on monetary policy to be made at 10:00 AM EST.Index futures moved lower following release of economic news released at 8:30 AM EST. Chairman Powell's initial comments were released. In addition, the January Dura...Read More
SHANGHAI, Feb 27 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday February 27 with SHFE nickel leading the gain with 1% rise. SHFE lead was up close to 1% while tin and zinc inched up. Copper and aluminium were down slightly.The ferrous complex recovered some lost ground in the afternoon with iron ore closing 0.64% lower. Hot-rolled coil was up over 1% while coking coal, coke a...Read More
SHANGHAI, Feb 27 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday February 27 with SHFE nickel leading the gain with 1% rise. SHFE lead was up close to 1% while tin and zinc inched up. Copper and aluminium were down slightly.The ferrous complex recovered some lost ground in the afternoon with iron ore closing 0.64% lower. Hot-rolled coil was up over 1% while coking coal, coke a...Read More