Domestic prices in Europe for hot-rolled coil (HRC) increased again this week and steelmakers have already made attempts to raise their offers further, sources told Metal Bulletin.The upward trend settled in the EU coil market has been supported by a combination of low availability of domestic material in Italy and the effects of trade defense measures in the region.Sources of imported HRC have be...Read More
Domestic prices for heavy steel plate in Europe have been largely unchanged over the past week, but prices are expected to rise with support from a positive trend in the steel coil market, sources told Metal Bulletin on Wednesday February 7.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?550-565 ($681-699) per tonne ex-works on Februar...Read More
Export prices for Chinese hot-rolled coil picked up strength on Wednesday February 7 after a handful of overseas buyers put in higher bids in response to an increase in offers.DomesticEastern China (Shanghai): 4,110-4,130 yuan ($654-657) per tonne, unchangedNorthern China (Tianjin): 4,000-4,030 yuan per tonne, unchangedDomestic prices held steady amid sparse trading in the major markets of Shangha...Read More
The merger between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia is expected to be concluded by April, ArcelorMittal Long Carbon Central & South Americas chief executive officer Jefferson de Paula told Metal Bulletin on Wednesday February 7.The deal will make the combined venture the sector leader in Brazil and will enable it to expand its product portfolio, he added."Th...Read More
Brazilian long steel import volumes increased by 73.10% in January on an annual basis.Imports of non-alloy long steel goods came to 20,886 tonnes, compared with 12,066 tonnes in the first month of 2017, according to figures released by Brazil's foreign...Read More
Prices for European domestic beams have fallen for the first time in 11 weeks after market participants slowed down their purchasing activities, market sources told Metal Bulletin on Wednesday February 7.The market hesitated because stockholders stopping buying amid the recent decrease in scrap prices and the wintry weather across Europe, one Northern European producer source said."At the end of J...Read More
The Turkish steel mills stayed out of the scrap markets on Wednesday February 7, making no deep-sea bookings, but were still expected by market sources to book more cargoes for March.There were rumors of a European cargo being sold at $340-342 per tonne cfr for HMS 1&2 (80:20), but the supplier denied this."I heard the same rumor but it is not correct," the supplier source said....Read More
Rising profitability among Chinese mills is fueling demand for high-grade iron ore, which gave prices a boost on Wednesday February 7. Metal Bulletin's 62% Fe Iron Ore Index Today: $77.20 per tonne cfr Qingdao Daily change: Up by $1.28 per tonne Month-to-date average: $75.22 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61.84 per...Read More
Seaborne iron ore prices continued to strengthen on Wednesday February 7 with a few high-grade brands changing hands at higher levels, while some uncertainties have emerged over exports out of India.Key driversChinese steelmakers are again seeking high-grade iron ore such as Newman and Carajas fines amid a widening of their profit margins and expectations of a possible extension of winter restrict...Read More
Iranian steel billet export prices fell by $5-10 per tonne over the week ended Wednesday February 7 with deals being reported at the lower prices.Metal Bulletin's weekly price assessment for Iranian billet exports was $485-495 per tonne fob on February 7, against $489-505 per tonne fob a week earlier.Market participants reported a cargo of Khouzestan Steel billet being sold at $485 per tonne fob o...Read More
China's domestic rebar prices edged up further on Wednesday February 7 despite softening demand. Domestic Eastern China (Shanghai): 3,890-3,940 yuan ($619-627) per tonne, narrowed upward by 10 yuan per tonneNorthern China (Beijing): 3,950-3,990 yuan per tonne, up 10 yuan per tonneTraders kept raising their offers bit by bit during the day gauge how much higher buyers were willing to pay. Very few...Read More
The sluggish hollow steel sections markets in Northern Europe must achieve higher prices or else tube producers will see their margins be eroded by stronger costs for hot-rolled coil (HRC), market sources have warned.A fresh increase of ?,?10-20 per tonne in the price of Northern Europe-origin hot-rolled coil (HRC) on Wednesday February 7 leaves tube mills with thin margins when transforming the m...Read More
Automotive production in Mexico increased by 19.80% year-on-year in January, according to figures released by the country's automobile association, Amia, on Wednesday February 7.Output reached 349,414 units, compared with 291,754 vehicles in the corresponding month a year before.This positive result was mainly driven by higher demand from export markets. Exports of Mexican cars totaled 231,088...Read More
The former chief executive officer of Rio Tinto defended himself against fraud allegations made in a civil lawsuit and said he has always operated within the bounds of transparency and strong ethics. During an interview with Metal Bulletin on stage at the annual Mining Indaba in Cape Town, Tom Albanese made his first public statement on allegations that he, a former colleague and Rio Tinto deliber...Read More
The heads of mining companies should not be complacent about higher prices and need to continue to run their operations as efficiently as possible, the chief executive officer of Konkola Copper Mines (KCM) told Metal Bulletin. Steve Din said during an interview on the sidelines of the Mining Indaba conference in Cape Town, South Africa that the mining sector must avoid a tendency to become exubera...Read More
Domestic prices in Europe for hot-rolled coil (HRC) increased again this week and steelmakers have already made attempts to raise their offers further, sources told Metal Bulletin.The upward trend settled in the EU coil market has been supported by a combination of low availability of domestic material in Italy and the effects of trade defense measures in the region.Sources of imported HRC have be...Read More
Prices for European domestic beams have fallen for the first time in 11 weeks after market participants slowed down their purchasing activities, market sources told Metal Bulletin on Wednesday February 7.The market hesitated because stockholders stopping buying amid the recent decrease in scrap prices and the wintry weather across Europe, one Northern European producer source said."At the end of J...Read More
The sluggish hollow steel sections markets in Northern Europe must achieve higher prices or else tube producers will see their margins be eroded by stronger costs for hot-rolled coil (HRC), market sources have warned.A fresh increase of ?,?10-20 per tonne in the price of Northern Europe-origin hot-rolled coil (HRC) on Wednesday February 7 leaves tube mills with thin margins when transforming the m...Read More
The latest metal markets news and price moves to start the North American day on Wednesday February 7. Base metals prices on the London Metal Exchange are mostly recovering during morning trading following Tuesday's sell-off.. Here is how the LME base metals complex looked at 12.12pm London time: For a snapshot of exchange news, check out our live futures report. Trading houses Transamine and Merc...Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Wednesday February 7.Most base metals traded on the Shanghai Futures Exchange were in positive territory during Asian morning trading on Wednesday, with only lead prices weakening. Nickel led the gains with a 1.6% rise amid a healthy demand picture and a recovery in the US stock markets, w...Read More