Global ferrous scrap prices moved upward in the week from Monday February 19 to Friday February 23, amid strong demand for finished steel in countries including Turkey and India, sources told Metal Bulletin.Turkish importsTurkish import scrap markets recorded further price increases this week, shrugging off the negativity surrounding the trade defense recommendations in the United States' Section...Read More
The UK inter-merchant price range for austenitic alloy steel fell by ?10-20 per tonne this week, with the nickel price softening over the week, sources said on Friday February 23.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-990 ($1,322-1,378) per tonne delivered on Friday, compared with ?960-1,010 per tonne on February 16."While the scrap pric...Read More
Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation. While US domestic steel prices are expected to spike if the US Department of Commerce's 232 recommendations lead to trade defense measures, there are two schools of thought as to how thi...Read More
China's domestic rebar prices rose on Friday February 23 following gains in the futures market. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($614-622) per tonne, up 30-40 yuan per tonne Northern China (Beijing): 4,000-4,040 yuan per tonne, up 50 yuan per tonne Traders raised their offers following gains in the futures market, but they concluded very few transactions since...Read More
The base price assessment in Europe for 2mm, grade-304 cold-rolled (CR) stainless steel sheet has widened upward by ?,?10 per tonne over the past week, despite poor demand and continued import pressure, sources told Metal Bulletin on Friday February 23.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,110 ($1,304-1,365) per tonne del...Read More
There was little activity in China's domestic stainless steel market over the past week due to the Chinese New Year, which has resulted in supply pressures increasing.Traders were offering stainless cold-rolled coil at 14,800-15,500 yuan ($2,329-2,439) per tonne, the same level as offers made before the February 15-21 Chinese New Year break, market sources said. No transactions were heard on Thurs...Read More
Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation. While US domestic steel prices are expected to spike if the US Department of Commerce's 232 recommendations lead to trade defense measures, there are two schools of thought as to how thi...Read More
Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation. While US domestic steel prices are expected to spike if the US Department of Commerce's 232 recommendations lead to trade defense measures, there are two schools of thought as to how thi...Read More
Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation. While US domestic steel prices are expected to spike if the US Department of Commerce's 232 recommendations lead to trade defense measures, there are two schools of thought as to how thi...Read More
Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation. While US domestic steel prices are expected to spike if the US Department of Commerce's 232 recommendations lead to trade defense measures, there are two schools of thought as to how thi...Read More
Domestic prices for rebar in Poland have been stable this week because mills are expected to announce new prices next week, sources told Metal Bulletin on Friday February 23.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,310-2,340 zloty ($680-688) per tonne ex-works on February 23, unchanged over...Read More
Italian long steelmaker Pittini is in discussions to acquire compatriot steelmaker Ori Martin's Ceprano rebar mill in central Italy, Metal Bulletin understands.The Ceprano mill is expected to stop rebar production on Monday February 26 but will continue selling material from stock, a market source told Metal Bulletin on Wednesday February 21."Pittini's plan could be to replace production at Cepran...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base MetalsGlencore metal traders banked a record $2 billion in profits in 2017 - a year where traded volume of copper, zinc and ferro-alloys grew substantially.Wieland Group will strengthen its position as Europe's largest semi-finished copper products producer by acquiring Aurubis' rolled-prod...Read More
Good morning from Metal Bulletin's London office, bringing you the latest news and pricing stories on Friday February 23.Base metals prices on the London Metal Exchange dipped across the board during morning trading, with prices awaiting further direction to move higher.Here's how base metals prices looked at 11:28am London time: Read our live futures report here."Thursday's intraday price dips on...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday February 23.Base prices on the Shanghai Futures Exchange (SHFE) rose across the board during Asian morning trading on Friday February 23, the second trading day after Lunar New Year holidays. Check Metal Bulletin's live futures report here. LME snapshot at 0200 London timeLatest 3M LME...Read More
SHANGHAI, Feb 23 (SMM) – Nonferrous metals futures on the SHFE performed strongly today except for tin, which edged down slightly. Nickel gained some 2% while copper was up 1.6%. Aluminium went up 1.5%, and zinc and lead inched up.Ferrous metals prices rose across the board as coke jumped close to 3% and iron ore increased by over 2%. Rebar and coking coal went up close to 2% and hot-rolled...Read More
SHANGHAI, Feb 23 (SMM) – Nonferrous metals futures on the SHFE performed strongly today except for tin, which edged down slightly. Nickel gained some 2% while copper was up 1.6%. Aluminium went up 1.5%, and zinc and lead inched up.Ferrous metals prices rose across the board as coke jumped close to 3% and iron ore increased by over 2%. Rebar and coking coal went up close to 2% and hot-rolled...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base MetalsGlencore metal traders banked a record $2 billion in profits in 2017 - a year where traded volume of copper, zinc and ferro-alloys grew substantially.Wieland Group will strengthen its position as Europe's largest semi-finished copper products producer by acquiring Aurubis' rolled-prod...Read More
SHANGHAI, Feb 23 (SMM) – Nonferrous metals futures on the SHFE performed strongly today except for tin, which edged down slightly. Nickel gained some 2% while copper was up 1.6%. Aluminium went up 1.5%, and zinc and lead inched up.Ferrous metals prices rose across the board as coke jumped close to 3% and iron ore increased by over 2%. Rebar and coking coal went up close to 2% and hot-rolled...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. The Canadian Dollar moved higher following release of Canada's January Consumer Price Index. Consensus was an increase of 0.5% versus a decline of 0.4% in December. Actual was an increase of 0.7%.Royal Bank (RY $102.16 Cdn) is expected to open higher after reporting higher than consensus...Read More