Turkish steel producers were in negotiations for deep-sea scrap purchases while prices stabilized on Tuesday January 23, Metal Bulletin has learnt.After booking a number of deep-sea cargoes at the end of the last week, Turkish steel mills were expected to book more deals for February and March."The market has stabilized and...Read More
Comex copper prices fell to a one-month low on Tuesday January 23 morning in the US on the back of increased supply.Copper for March settlement on the Comex division of the New York Mercantile Exchange fell 7.05 cents or 2.2% to $3.1380 per lb. Copper on-warrant stock levels on the London Metal Exchange are now at their highest since October 20, 2017, after today's delivery. Over 40,000 tonne...Read More
Metal Bulletin Research topped the base metals leaderboard in the Apex fourth-quarter 2017 contest, with an accuracy rating of 99.35%. Click on the image below to download the full report. Bunk Muscat's Ajit S Mauskar was second in the base metals table with an accuracy rating of 98.88%, Casper Burgering of ABN Amro was third with 98.66%. SP Angel's John Meyer and Sergey Raevskiy were fourth with...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Tuesday January 23, with the complex up by an average of 0.3%.Three-month nickel prices ($12,860 per tonne) are up the most with a 0.9% gain, lead prices ($2,625 per tonne) are up by 0.6%, zinc ($3,427 per tonne) and copper prices (7,091 per tonne)are up by 0.2% and 0.3% respectively, while aluminium ($2,2...Read More
Most buyers of flat steel in the United Arab Emirates and in Saudi Arabia preferred to delay their purchasing this week because end-user demand was not strong and they expected discounts, sources told Metal Bulletin on Tuesday January 23.UAEHot-rolled coil (HRC) was offered at $600-605 per tonne cfr from China, and a buyer was bidding $580 per tonne cfr.India offered the product at $605-610 per to...Read More
China's domestic hot-rolled coil retreated on Tuesday January 23 amid weak demand, but mills have raised their offers to the export market on expectations of demand improving locally after the Chinese New Year. Domestic Eastern China (Shanghai): 4,070-4,090 yuan ($635-639) per tonne, down 20-40 yuan per tonne Northern China (Tianjin): 3,930-3,950 yuan per tonne, down 20 yuan per tonne HRC futures...Read More
China's ferrous futures fell for a second consecutive morning on Tuesday January 23. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,886 ($606.70) per tonne, down 29 yuan per tonne May hot-rolled coil: 3,877 yuan per tonne, down 21 yuan per tonne Dalian Commodity Exchange May iron ore: 519.50 yuan per tonne, down 19.50 yuan per tonne May coking coal:...Read More
The international trade committee of the European Parliament has now endorsed the political agreement on the modernization of the EU's trade defense instruments, the European Commission (EC) said on Tuesday January 23.The agreement was reached between the EC, the European Council and the European Parliament on December 5 last year.The changes to the EU's anti-dumping and anti-subsidy regulations w...Read More
Prices for rebar in the United Arab Emirates and Saudi Arabia were stable this week while billet import prices in the UAE narrowed with a new deal, sources told Metal Bulletin on Tuesday January 23.Demand for imported rebar, meanwhile, was still very weak in both countries because local prices were more competitive.Domestic rebarMajor local rebar producers in the UAE announced new prices on Januar...Read More
China's domestic rebar prices tumbled on Tuesday January 23, shedding about half of the gains made a day earlier amid sparse trading and losses in the billet and futures markets.Domestic Eastern China (Shanghai): 3,850-3,900 yuan ($601-609) per tonne, down 50 yuan per tonne Northern China (Beijing): 3,900-3,950 yuan per tonne, down 80-100 yuan per tonne A major price reduction by east China's majo...Read More
Turkish steel producers were in negotiations for deep-sea scrap purchases while prices stabilized on Tuesday January 23, Metal Bulletin has learnt.After booking a number of deep-sea cargoes at the end of the last week, Turkish steel mills were expected to book more deals for February and March."The market has stabilized and...Read More
Metal Bulletin Research topped the base metals leaderboard in the Apex fourth-quarter 2017 contest, with an accuracy rating of 99.35%. Click on the image below to download the full report. Bunk Muscat's Ajit S Mauskar was second in the base metals table with an accuracy rating of 98.88%, Casper Burgering of ABN Amro was third with 98.66%. SP Angel's John Meyer and Sergey Raevskiy were fourth with...Read More
Iron ore prices dropped close to $74 per tonne cfr China on Tuesday January 23 amid weakening steel billet and futures markets. Metal Bulletin's 62% Fe Iron Ore Index Today: $74.29 per tonne cfr Qingdao Daily change: down by $2.32 per tonne. Month-to-date average: $76.50 per tonne Metal Bulletin's 58% Fe Premium Index Today: $60.73 per tonne cfr Qingdao Daily change:...Read More
Prices for rebar in the United Arab Emirates and Saudi Arabia were stable this week while billet import prices in the UAE narrowed with a new deal, sources told Metal Bulletin on Tuesday January 23.Demand for imported rebar, meanwhile, was still very weak in both countries because local prices were more competitive.Domestic rebarMajor local rebar producers in the UAE announced new prices on Januar...Read More
China's domestic rebar prices tumbled on Tuesday January 23, shedding about half of the gains made a day earlier amid sparse trading and losses in the billet and futures markets.Domestic Eastern China (Shanghai): 3,850-3,900 yuan ($601-609) per tonne, down 50 yuan per tonne Northern China (Beijing): 3,900-3,950 yuan per tonne, down 80-100 yuan per tonne A major price reduction by east China's majo...Read More
Chrome ore and charge chrome import prices rose in China on Friday January 19 amid tight supply after mills failed to secure sufficient alloy supply for their steel-making needs, while domestic prices rose on New Year stockpiling. Ore and alloy prices continued to propel each other in ChinaFurther price strength predicted amid new round of stockpiling before Lunar New YearJapanese, South Korean p...Read More
Global ferro-vanadium markets experienced sharp gains once again this past week, with supply concerns continuing to support prices....Read More
China's domestic iron ore output rebounded in 2017 after two years of contraction, thanks to stronger demand - especially for higher-grade materials - among steelmakers.The country produced 1.23 billion tonnes of run-of-mine (ROM) iron ore last year, up 7.1% from 2016's total, the National Bureau of Statistics (NBS) said on Monday January 22.In December alone, output rose 0.9% year on year to 109....Read More
The three-month copper price on the London Metal Exchange plummeted over 2% at the close on Tuesday January 23 after on-warrant stocks hit their highest since October 20, 2017. Copper prices hit their 2018 low at $6,914.50 earlier today following the delivery of 40,000 tonnes of copper into LME warehouses, with the majority of the stock into Busan while 8,100 tonnes was re-warranted across Asian l...Read More
Comex copper prices fell to a one-month low on Tuesday January 23 morning in the US on the back of increased supply.Copper for March settlement on the Comex division of the New York Mercantile Exchange fell 7.05 cents or 2.2% to $3.1380 per lb. Copper on-warrant stock levels on the London Metal Exchange are now at their highest since October 20, 2017, after today's delivery. Over 40,000 tonne...Read More