The market in the United Kingdom for grade-5C ferrous scrap was unchanged this week, remaining stable while suppliers held firm their offer prices after steady losses in the previous three weeks.The market had been dropping since the price was last assessed on January 12, with suppliers cutting their offer prices in line with export demand.But an upturn in European export prices to the key destina...Read More
Turkish ferrous scrap import prices rebounded at the end of the working week of Monday February 5 to Friday February 9, boosted by expectations that finished steel demand is likely to bounce back soon.Import scrap prices in Taiwan are still trending downward on very limited demand before the Lunar New Year, while Indian import prices moved in the opposite direction due to an improved appetite for...Read More
Turkish steel producers continued their bookings for March at comparatively stable prices on Friday February 9.A steel mill in the Marmara region came to the market and booked a US cargo at $353 per tonne cfr for 32,000 tonnes of shredded.The same mill also booked...Read More
China's domestic rebar prices were unchanged on Thursday February 8 ahead of the weekend. Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($611-620) per tonne, unchanged Northern China (Beijing): 3,950-3,990 yuan per tonne, unchanged Traders kept their offers flat since most of their customers have retreated from the market ahead of the Chinese New Year next week. China is officially on holida...Read More
European stainless steel base prices have remained unchanged over the past week, sources told Metal Bulletin on Friday February 9.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,120 ($1,299-1,373) per tonne delivered in Northern Europe."The good market sentiment in January didn't turn into much [buying] action, and it seems like th...Read More
China's ferrous futures trended downward during the morning trading session on Friday February 9. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,922 ($621) per tonne, down 8 yuan per tonne May hot-rolled coil: 4,008 yuan per tonne, down 14 yuan per tonne Dalian Commodity Exchange May iron ore: 529.50 yuan per tonne, down 1.50 yuan per tonne May coking coal: 1,363 y...Read More
China's domestic stainless steel prices stabilized over the past week with more and more participants leaving the market ahead of the Chinese New Year. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,500-15,500 yuan ($2,295-2,453) per tonne including VAT for the week ended Thursday February 8, the same as a week earlier. "More a...Read More
Tata Steel reported a 59.06% year-on-year increase in its earnings in the quarter ended December 31, 2017, due to good results reported by the Indian divisions of the company.Consolidated earnings before interest, taxes, depreciation and amortization (Ebitda) reached 58.01 billion rupees ($899.93 million) in October-December 2017, the company said on Friday February 9.This was up from 36.47 billio...Read More
Prices for flat steel products in Brazil increased in early February, following the adjustments announced by local producers during January.Metal Bulletin's monthly price assessment for Brazilian hot-rolled coil (HRC) rose to 2,500-2,600 Reais ($763-793) ex-works on Friday February 9, from 2,300-2,400 Reais per tonne ex-works on January 5.In the same...Read More
Rebar prices in Brazil were steady at the beginning of February, amid uncertainty over the approval of the merger between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia.Metal Bulletin's monthly price assessment for Brazilian rebar was 2,200-2,400 Reais ($677-738) per tonne delivered on Friday February 9, stable on a monthly basis.The transaction, which will turn Votoranti...Read More
Latin American steel group Ternium and Japan's Nippon Steel & Sumitomo Metal Corp (NSSMC) have reached an agreement over the control of Brazilian steel and iron ore producer Usiminas.The two firms, which are Usiminas' main shareholders, have agreed to establish new rules to govern their relationship as members of the Usiminas control group and to "amicably resolve and terminate the pending legal d...Read More
Export prices for cold-rolled coil (CRC) from Latin America increased this week, due to higher prices in Europe, while the price of hot-rolled coil (HRC) remained unchanged.Metal Bulletin's weekly assessment of Latin America's CRC export prices went up to $700-725 per tonne fob on Friday February 9, from $680-695 per tonne fob a week earlier. The weekly price assessment of Latin America's HRC...Read More
Transaction prices for domestic rebar in Poland have been largely unchanged over the past week because buying activity was slow with sufficient material in stock, sources told Metal Bulletin on Friday February 9.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,310-2,360 zloty ($678-692) per tonne ex-works on February 9,...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsThe London Metal Exchange's average daily volume was little changed for January 2018 from a year earlier but only when taking into account trading changes due to MiFID II. It was a tough week for the copper market - prices fell to their weakest since mid-December a...Read More
The market in the United Kingdom for grade-5C ferrous scrap was unchanged this week, remaining stable while suppliers held firm their offer prices after steady losses in the previous three weeks.The market had been dropping since the price was last assessed on January 12, with suppliers cutting their offer prices in line with export demand.But an upturn in European export prices to the key destina...Read More
The latest metal markets news and price moves to start the North American day on Friday February 9.Base metals prices on the London Metal Exchange were down across the board during morning trading following a significant rise in aluminium and copper stocks. Here's how LME base metals prices looked at 12:11 London time:Read our live futures report here. "Base metals are likely to enjoy renewed...Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Friday February 9.Base metals traded on the Shanghai Futures Exchange were all in negative territory during Asian morning trading on Friday, with copper prices pressured by a combination of dollar strength and stock increases on the London Metal Exchange.The most-traded April copper contra...Read More
Base metals traded on the London Metal Exchange are experiencing downward pressure this morning, Friday February 9, with the complex posting an average loss of 0.7% amid healthy volumes. Nickel (-1.6%) has been hit the worst, while copper (-0.2%) appears to be the most resilient.The downward pressure across the industrial metals is driven by a deterioration in risk sentiment in Asia, evident in eq...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsThe London Metal Exchange's average daily volume was little changed for January 2018 from a year earlier but only when taking into account trading changes due to MiFID II. It was a tough week for the copper market - prices fell to their weakest since mid-December a...Read More
SHANGHAI, Feb 9 (SMM) – Nonferrous metals futures fell across the board today with SHFE tin and nickel down 2%. While copper slid over 1%, SHFE zinc, aluminium and lead all edged down.The performance of the ferrous complex was no different from its base metals peers. Coke dropped nearly 2% while hot-rolled coil was down 1.5%. Rebar fell 1% as coking coal and iron ore slipped. Copper: T...Read More