Import prices for re-rolling-grade hot-rolled coil in Vietnam surged over the past week on higher offer prices from major suppliers, including China and India. Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $607-620 per tonne cfr for the week ended Monday February 12, up $22-25 per t...Read More
China's hot-rolled coil futures posted some gains on Monday February 12 after the country's steel production hub of Tangshan announced more production caps late last Friday.DomesticEastern China (Shanghai): 4,110-4,130 yuan ($653-656) per tonne, unchangedNorthern China (Tianjin): 4,000-4,030 yuan per tonne, unchangedFerrous futures surged at the start of the day's session in the wake of news that...Read More
China's ferrous futures mostly started the week with slight gains during the morning trading session on Monday February 12.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,910 yuan ($621) per tonne, up 15 yuan per tonne May hot-rolled coil: 3,966 yuan per tonne, down 1 yuan per tonne Dalian Commodity Exchange May iron ore: 522 yuan per tonne, down 0.50 yuan per tonne...Read More
Indian state-owned steelmaker Steel Authority of India (Sail) reported a rise in profit in the fourth quarter of 2017 after ten consecutive months of decline, the company said on Thursday February 8.The company reported earnings before interest, taxes, depreciation and amortization (Ebitda) of 15.71 billion rupees ($244 million) in October-December 2017, the third quarter of its current financial...Read More
Rebar producer Sohar Steel has received certification of its responsible sourcing of construction products and sustainable constructional steel (SCS) from the UK-based Certification Authority for Reinforcing Steel (CARES), the Omani company said on Sunday February 11.The company produces 800,000 tonnes per year of rebar and 600,000 tpy of steel billet.It sells its products in Oman and...Read More
China's rebar futures increased on Monday February 12 as the country's steel production hub announced more manufacturing restrictions, while spot prices were stable amid sparse trading ahead of the Chinese New Year holiday. Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($613-623) per tonne, unchanged. Northern China (Beijing): 3,950-3,990 yuan per tonne, unchanged. Ferrous futures jumped by...Read More
The Turkish deep-sea scrap import market went quiet on Monday February 12, digesting the latest bookings done at the end of last week.Turkish steelmakers were active in the bulk ferrous scrap market over the preceding seven days, booking at least eight bulk ferrous scrap cargoes from suppliers in the United States, the UK and...Read More
Turkish domestic auto bundle scrap prices have shown mixed dynamics over the past week, with some mills reducing their prices in line with falling imported scrap values, while other mills raised their prices to buy more material, sources said on Monday February 12.A number of steel mills in Turkey reduced their buy prices for scrap material by TRY10-15 ($3-4) per tonne in the past seven days, whil...Read More
Iron ore prices fell slightly but stayed above $76 per tonne cfr China on Monday February 12 amid a slowdown in trading in the physical market.Metal Bulletin's 62% Fe Iron Ore IndexToday: $76.24 per tonne cfr QingdaoDaily change: down by $0.22 per tonneMonth-to-date average: $75.76 per tonneMetal Bulletin's 58% Fe Premium IndexToday: $60.84 per tonne cfr QingdaoDaily change: down...Read More
China's rebar futures increased on Monday February 12 as the country's steel production hub announced more manufacturing restrictions, while spot prices were stable amid sparse trading ahead of the Chinese New Year holiday. Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($613-623) per tonne, unchanged. Northern China (Beijing): 3,950-3,990 yuan per tonne, unchanged. Ferrous futures jumped by...Read More
Ferro-chrome prices held in China and chrome ore prices weakened, as spot trading wound down ahead of Chinese New Year, after mills had bought in early. Ferro-chrome prices hold in China as holidays approachChrome ore prices edge lowerAlloy prices jump in Japan, South KoreaAlloy prices jumping Asia as special steel orders growUS alloys prices edge higher Ferro-chrome prices held in China and chrom...Read More
The Indian government has imposed a 20% export duty on graphite electrodes, according to the International Rebar Producers & Exporters Association (Irepas).The Indian government has imposed a 20% export duty on graphite electrodes, according to the International Rebar Producers & Exporters Association (Irepas).The decision was taken in order to "improve domestic [electrode] supplies and promote th...Read More
The copper price trading on the London Metal Exchange managed to hold on to most of its early morning gains to close $76 per tonne higher on Monday February 12. The three-month copper price is now trading back above $6,800 per tonne and the red metal continues to stabilize after falling to a two-month low after the equity market plummeted and the dollar recovered. The majority of metals closed in...Read More
The Turkish deep-sea scrap import market went quiet on Monday February 12, digesting the latest bookings done at the end of last week.Turkish steelmakers were active in the bulk ferrous scrap market over the preceding seven days, booking at least eight bulk ferrous scrap cargoes from suppliers in the United States, the UK and...Read More
Tungsten prices climbed higher last week in Europe amid tightening spot supply, while the Chinese market has started to wind down ahead of the week-long national holiday for Chinese New Year. China's tungsten market starts to wind down ahead of Lunar New Year Tightness in tungsten concentrate to continue in the first quarter ahead of China's National People's Congress scheduled for March&nbs...Read More
Comex copper prices bounced back on Monday February 12 morning in the US due to a weaker dollar and the market stabilizing after heavy losses last week.Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 4.15 cents or 1.4% to $3.0750 per lb. On Friday, the contract tumbled to its lowest point since December 14, 2017.Base metals were driven lower last week whi...Read More
SHANGHAI, Feb 12 (SMM) – Only SHFE aluminium resisted a drop among nonferrous metals today with a rise of close to 1%. SHFE tin lost 1.5% while zinc was down over 1%.In the ferrous complex, coking coal and rebar edged up when iron ore was down around 1% and coke was down 0.73%. Hot-rolled coil also slipped.Copper: The SHFE 1804 copper contract was trading below all moving averages as the mar...Read More
The latest metal markets news and price moves to start the North American day on Monday February 12.Base metals prices on the London Metal Exchange were mostly higher during morning trading on Monday February 12, with the complex attempting to rebound from last week's choppy trading conditions.Here's how LME base metals prices looked at 11:46am London time:Read...Read More
SHANGHAI, Feb 12 (SMM) – Only SHFE aluminium resisted a drop among nonferrous metals today with a rise of close to 1%. SHFE tin lost 1.5% while zinc was down over 1%.In the ferrous complex, coking coal and rebar edged up when iron ore was down around 1% and coke was down 0.73%. Hot-rolled coil also slipped.Copper: The SHFE 1804 copper contract was trading below all moving averages as the mar...Read More
SHANGHAI, Feb 12 (SMM) – The operating rates at Chinese domestic zinc concentrate mines are expected to drop further in February, leaving smelters more reliant on imported materials.However, SMM expects a slight increase in treatment charges (TCs) in March as domestic output is set to recover from March onwards.China’s zinc concentrate output in January failed to meet expectations as o...Read More