Prices for commodity-grade hollow sections increased by $5-10 per tonne in Southern Europe this week, with Italian tube producers continuing to ask customers to pay higher prices.Metal Bulletin's price assessment for Southern Europe-origin hollow sections was ?,?625-655 ($771-808) per tonne on Wednesday, compared with ?,?620-645 per tonne delivered last week.Domestic Northern European hollow secti...Read More
Domestic prices for steel wire rod in Northern Europe widened downward by ?,?5 per tonne this week, amid scrap costs that are weakening and despite strong demand, sources told Metal Bulletin on Wednesday February 7.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe widened downward week-on-week to ?,?545-560 ($672-691) per tonne delivered on Wednesday. T...Read More
The steel mills in Turkey resumed their deep-sea scrap bookings on Wednesday February 14 at comparatively stable prices, Metal Bulletin was told.A steel mill in the Marmara region booked a US cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $349.25 per tonne, 5,000 tonnes of shredded at $354.25 per tonne...Read More
Iron ore prices jumped to more than $78 per tonne cfr China on Wednesday February 14 despite inactive physical trading. Metal Bulletin's 62% Fe Iron Ore Index Today: $78.41 per tonne cfr Qingdao Daily change: up by $1.05 per tonne Month-to-date average: $76.19 per tonne Metal Bulletin's 58% Fe Premium Index...Read More
Bids for seaborne iron ore rose despite little trading on Wednesday February 14, the last working day before the Chinese Lunar New Year holiday.Key driversChina's ferrous futures prices largely continued to advance, with the benchmark iron ore contract still outshining other products, ending 2.6% higher than the preceding day's settlement.Bids for seaborne cargoes of 62% Fe Australian fines rose a...Read More
Iranian steel billet export prices narrowed upward by $5 per tonne over the week ended Wednesday February 14, with deals being reported at the higher prices.Metal Bulletin's weekly price assessment for Iranian billet exports was $490-495 per tonne fob on February 14, against $485-495 per tonne fob a week earlier.Market participants reported several cargoes of Iranian billet being sold...Read More
China's rebar futures prices saw limited increases on the last trading day ahead of the New Year holiday, while spot prices were unchanged.Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($613-623) per tonne, unchangedNorthern China (Beijing): 3,950-3,990 yuan per tonne, unchanged Spot prices held steady since most market participants started their break well in advance of the Februa...Read More
Spot prices have eased so far this week in European molybdic oxide and ferro-molybdenum trading due to the absence of key world trader China which has had a dampening effect on international markets, sources told Metal Bulletin. Metal Bulletin assessed molybdic oxide prices at $12.00-12.25 per lb in-warehouse Rotterdam on Wednesday February 14, from $12.20-12.50 per lb on Friday. The market w...Read More
Prices for commodity-grade hollow sections increased by $5-10 per tonne in Southern Europe this week, with Italian tube producers continuing to ask customers to pay higher prices.Metal Bulletin's price assessment for Southern Europe-origin hollow sections was ?,?625-655 ($771-808) per tonne on Wednesday, compared with ?,?620-645 per tonne delivered last week.Domestic Northern European hollow secti...Read More
Turkish pipe export prices continued to rise in line with stronger prices for pipemaking raw materials, although demand for finished products was still sluggish, sources said on Wednesday February 14.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $680-690 per tonne fob on February 14, up from $670-680...Read More
Domestic prices in Northern Europe for hot-dipped galvanized coil (HDG) have increased again this week, following the upward trend settled in the region's wider flat steel markets, sources told Metal Bulletin on Wednesday February 14.Metal Bulletin's weekly price assessment for domestic HDG in Northern Europe was ?,?680-700 ($839-863) per tonne ex-works this week, compared with ?,?670-690 per tonn...Read More
Domestic prices for cold-rolled coil (CRC) are expected to grow this month following the upward trend in the hot-rolled coil (HRC) market, sources told Metal Bulletin on Wednesday February 14.Metal Bulletin's weekly price assessment for domestic CRC in Southern Europe was ?,?640-645 ($789-795) per tonne ex-works on February 14, compared with ?,?625-650 per tonne ex-works. The assessment reflected...Read More
European mills insist in higher domestic prices for hot-rolled coil (HRC) following the positive trend settled in the market, sources told Metal Bulletin.The upward trend settled in the EU coil market has been supported by a combination of decreased production of domestic material in Italy and the effects of trade defense measures.Sources of imported HRC have been limited since the European Commis...Read More
Base metals prices on the London Metal Exchange took advantage of the weakening dollar to close higher across the board on Wednesday February 14, with nickel leading the charge."LME prices strengthened further on a lack of Chinese selling and a softer US dollar, which saw upside stops triggered with an accompanying sharp increase in turnover. 5pm closes were all up on the day and just off the high...Read More
The latest metal markets news and price moves to start the North American day on Wednesday February 14. Base metals prices on the London Metal Exchange were mostly consolidating during morning trading, with the complex trying to stabilize after two days of rebounds. "Despite the low volumes, the resilience of the markets at their new higher levels is impressive, there is some light short-covering...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Wednesday February 14.Base prices on the Shanghai Futures Exchange rose during Asian morning trading on Wednesday, the last trading day before the Lunar New Year break. Check Metal Bulletin's live futures report here. LME snapshot at 02.00 am London timeLatest three-month LME Prices Price (...Read More
Base metals on the London Metal Exchange are for the most part consolidating this morning, Wednesday February 14. Nickel prices are the most energetic with a 0.7% gain to $13,520 per tonne, the others are ranged between down 0.2% and up 0.3%, with copper prices unchanged at $7,017 per tonne.Volume has been below average, with 7,611 lots traded as of 07.19 am London time. This follows a second day...Read More
SMM offices will be closed from Thursday February 15 to Wednesday February 21 for the Chinese New Year holiday. There will be no news publication during this period.Normal publishing schedule will resume on Thursday February 22.For queries, please contact Daisy Tseng at daisy@smm.cnRead More
SMM offices will be closed from Thursday February 15 to Wednesday February 21 for the Chinese New Year holiday. There will be no news publication during this period.Normal publishing schedule will resume on Thursday February 22.For queries, please contact Daisy Tseng at daisy@smm.cnRead More
U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points in pre-opening trade. Index futures moved lower following release of economic news at 8:30 AM EST. Consensus for January Consumer Prices was an increase of 0.3% versus a gain of 0.1% in December. Actual was an increase of 0.5%. Excluding food and energy, consensus for January Consumer Prices was an increase...Read More