Comex copper prices were in negative territory on Wednesday February 21, with a stronger dollar and lack of market action weighing on base metals prices generally.Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 0.9 cents or 0.3% to trade recently at $3.1815 per lb."The USD continues to be the main game in town as its recent rally continues ahead of some key...Read More
The metals prices on the London Metal Exchange are mixed this morning, Wednesday February 21, with nickel and tin prices firmer by 0.4%, while the rest are lower by between 0.1% and 0.5%. Copper prices are off 0.1% at $7,068 per tonne. Volumes remain light with 1,862 lots traded as of 07:05 am London time - we expect this to change tomorrow with China returning from the Lunar New Year holiday...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have been largely unchanged over the past week, but the sentiment in the market remains positive, sources told Metal Bulletin on Wednesday February 21."Prices for hot-rolled coil [HRC] are going to rise and downstream products will follow the increase," a German trader said.Domestic prices for hot-rolled coil (HRC) in the EU are likely to rise,...Read More
Domestic prices for hot-rolled coil (HRC) in the EU are likely to rise, supported by the fact that mills are well booked in the North and there is only reduced output from Italian steelmaker Ilva, sources told Metal Bulletin this week.The rise will also be supported by the fact that import offers are relatively high, according to market participants.Sources of HRC imports have been limited since t...Read More
Domestic prices for heavy steel plate in Southern Europe have increased this week with Italian re-rollers pushing their offers upward, sources told Metal Bulletin on Wednesday February 21.The increase was supported by growth in slab prices, according to market sources.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?570-580 ($704-717) p...Read More
Southern European tube mills have increased their prices for commodity-grade hollow steel sections again this week in an attempt to offset the pressures of higher prices and low availability in steel coil, sources told Metal Bulletin.Metal Bulletin's price assessment for Southern Europe-origin hollow sections was ?,?625-660 ($772-816) per tonne on Wednesday February 21, compared with ?,?625-655 pe...Read More
The recommendations made by the United States Department of Commerce for trade action against steel imports under its Section 232 powers would introduce "an elementary of uncertainty" into the market that would last until a final decision on the matter is made, according to Latin American steel group Ternium."We are looking at [this subject] with caution," M??ximo Vedoya, who will replace Daniel N...Read More
Domestic prices for steel wire rod were unchanged across Europe over the past week, with market participants expecting strong demand in the coming months, sources told Metal Bulletin on Wednesday February 21.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe was ?,?545-560 ($673-692) per tonne delivered on...Read More
Turkish steel mills paused their deep-sea scrap purchasing activity on Wednesday February 21 after news broke of the delivery of the Section 232 report in the United States, according to market sources.The mills in the country were expected to book more cargoes for March but they have slowed down their transactions and have booked only one cargo since the US Department of Commerce delivered its re...Read More
Iron ore prices held steady at $78 per tonne cfr China on Wednesday February 21, with China on the last day of its weeklong break for the Chinese New Year.Metal Bulletin's 62% Fe Iron Ore Index Today: $78.43 per tonne cfr Qingdao Daily change: unchanged Month-to-date average: $76.83 per tonne...Read More
Indian steel product export prices could fall if high import tariffs are applied to steel from countries such as South Korea, Turkey and Japan by the United States, sources have told Metal Bulletin.Any price drops for steel from South Korea, Turkey and Japan - which depend on steel exports to the US more than Indian steel mills do - would depress market conditions for Indian steel exporters too, s...Read More
Iranian export billet prices went up by $5-15 per tonne on an fob basis in the week ended Wednesday February 21 with higher offers being accepted by customers.Metal Bulletin's weekly price assessment for Iranian billet exports was $495-510 per tonne fob on February 21, against $490-495 per tonne fob a week earlier.Late last week, offers of Iranian billet were reported within the range of $495-510...Read More
Indian steel product export prices could fall if high import tariffs are applied to steel from countries such as South Korea, Turkey and Japan by the United States, sources have told Metal Bulletin.Any price drops for steel from South Korea, Turkey and Japan - which depend on steel exports to the US more than Indian steel mills do - would depress market conditions for Indian steel exporters too, s...Read More
Southern European tube mills have increased their prices for commodity-grade hollow steel sections again this week in an attempt to offset the pressures of higher prices and low availability in steel coil, sources told Metal Bulletin.Metal Bulletin's price assessment for Southern Europe-origin hollow sections was ?,?625-660 ($772-816) per tonne on Wednesday February 21, compared with ?,?625-655 pe...Read More
BHP expects to see the price spreads across different grades of steelmaking raw materials to persist in the coming months amid supply-side reforms in China, among other factors. "[...] We are optimistic that the 62% Fe index price [for iron ore] can be relatively resilient to slowing end-use demand and growing seaborne supply in the coming half year," the miner said in its economic and commodity o...Read More
Merger and acquisition activity in lithium, copper and cobalt is expected to feature high on the agenda of management teams across the industry given the buzz around new world critical minerals, according to a report by consultancy group EY. Environmental regulations and the electric vehicle (EV) revolution ignited various players to consider investment into the future supply of commodities used i...Read More
Southern European tube mills have increased their prices for commodity-grade hollow steel sections again this week in an attempt to offset the pressures of higher prices and low availability in steel coil, sources told Metal Bulletin.Metal Bulletin's price assessment for Southern Europe-origin hollow sections was ?,?625-660 ($772-816) per tonne on Wednesday February 21, compared with ?,?625-655 pe...Read More
Domestic prices for steel wire rod were unchanged across Europe over the past week, with market participants expecting strong demand in the coming months, sources told Metal Bulletin on Wednesday February 21.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe was ?,?545-560 ($673-692) per tonne delivered on...Read More
Domestic prices for rebar in Southern Europe widened downward by ?,?10 per tonne from last week on continued low demand, sources told Metal Bulletin on Wednesday February 21.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe on Wednesday was ?,?510-535 ($630-661) per tonne delivered, compared with ?,?520-535 per tonne delivered on February 14."There is currently a very...Read More
The metals prices on the London Metal Exchange are mixed this morning, Wednesday February 21, with nickel and tin prices firmer by 0.4%, while the rest are lower by between 0.1% and 0.5%. Copper prices are off 0.1% at $7,068 per tonne. Volumes remain light with 1,862 lots traded as of 07:05 am London time - we expect this to change tomorrow with China returning from the Lunar New Year holiday. Tue...Read More