Prices for containerized imports of ferrous scrap into India fell this week, with negative sentiment and a drop in demand weakening the market, sources told Metal Bulletin on Friday January 19.Indian import scrap markets achieved their highest prices for more than three years a fortnight ago, but the market undid those gains after a sharp decline in buying activity in Pakistan.Metal Bulletin's ind...Read More
Brazilian slab export prices rose this week due to increased demand for the material in different regions and continued high costs for iron ore.Metal Bulletin's weekly assessment of Brazil export slab prices was $530-540 per tonne fob on Friday January 19, up from $510-520 per tonne fob a week earlier.Several market participants confirmed that most March-shipment volumes have been...Read More
Indian local secondary billet prices were showing signs of weakness on Friday January 19 despite making a week-on-week gain of 400 rupees ($6) per tonne.Prices for Indian domestic secondary billet, mainly produced in induction furnaces, ended the week at 32,300-32,500 rupees ($506-509) per tonne ex-mill. This was an increase of 400 rupees per tonne compared with Metal Bulletin's assessment last we...Read More
China domestic rebar prices strengthened again on Friday January 19 on gains in the futures and billet markets. Domestic Eastern China (Shanghai): 3,800-3,850 yuan ($591-599) per tonne, up 20-40 yuan per tonne Northern China (Beijing): 3,820-3,850 yuan per tonne, up 20-30 yuan per tonne Rebar futures as well as billet prices rose during the day, which pushed up spot prices for the long steel produ...Read More
European stainless steel base prices for grade-316 cold-rolled (CR) sheet have widened downward by ?,?15 per tonne, sources told Metal Bulletin on Friday January 19.Metal Bulletin's weekly base price assessment for domestic grade-316 CR stainless steel widened week-on-week to ?,?1,345-1,430 ($1,644-1,748) per tonne delivered in Europe on Friday, compared with ?,?1,360-1,430 per tonne delivered in...Read More
China's domestic stainless steel prices continued to trend downward over the past week amid high selling interest coupled with soft demand. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,500-15,200 yuan ($2,256-2,365) per tonne including VAT for the week ended Thursday January 18, down 200 yuan per tonne a week earlier. Steel.....Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices ended the week on the rise, after some falls over the period. Metal Bulletin's 62% Fe Iron Ore Index hit $76 per tonne on Friday, boosted by gains in China's futures market.Buyers of seaborne coking coal are waiting on the market sidelines in expectation of lower prices in the weeks ahea...Read More
An alleviation of supply concerns in the seaborne coking coal market has led to prices for the steelmaking raw material starting to retreat this month, but just how low they fall will be determined by how quickly demand rises over the next few weeks when Chinese buyers make an expected return.Fixed-price spot transactions in the seaborne premium hard coking coal market have been scarce in recent w...Read More
Aluminium billet premiums in the United States jumped, some premiums in Asia were lower, and the Germany premium in Europe widened upward.The aluminium three-month price on the London Metal Exchange closed at $2,219 per tonne.The spread between the three-month and cash price was in a $1.50 contango per tonne after touching a $6 backwardation earlier in the week.The US 6063 spot billet upcharge has...Read More
Brazilian slab export prices rose this week due to increased demand for the material in different regions and continued high costs for iron ore.Metal Bulletin's weekly assessment of Brazil export slab prices was $530-540 per tonne fob on Friday January 19, up from $510-520 per tonne fob a week earlier.Several market participants confirmed that most March-shipment volumes have been...Read More
Domestic prices for rebar in Poland have increased again over the past week on higher production costs, sources told Metal Bulletin on Friday January 19.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,320-2,350 zloty ($680-689) per tonne ex-works on January 19, compared with 2,240-2,300 per tonne ex-works a week earlier.The assessment reflected deals an...Read More
European stainless steel base prices for grade-316 cold-rolled (CR) sheet have widened downward by ?,?15 per tonne, sources told Metal Bulletin on Friday January 19.Metal Bulletin's weekly base price assessment for domestic grade-316 CR stainless steel widened week-on-week to ?,?1,345-1,430 ($1,644-1,748) per tonne delivered in Europe on Friday, compared with ?,?1,360-1,430 per tonne delivered in...Read More
The latest metal markets news and price moves to start the North American day on Friday January 19.Base metals prices on the London Metal Exchange were trading higher across the board, supported by fresh cancellations of LME stocks and the weakening dollar.The three-month zinc price set a 10-year high this morning of $3,438 per tonne after 24,175 tonnes of metal was freshly cancelled...Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Friday January 19.Base metals prices on the Shanghai Futures Exchange gave a varied performance during Asian morning trading on Friday, with aluminium and lead prices pushing higher, while the rest were little changed to weaker.Check Metal Bulletin's live futures report here.LME snapshot a...Read More
Base metals prices on the London Metal Exchange are stronger across the board this morning, Friday January 19, with the complex up by an average of 0.6%. Aluminium prices ($2,262 per tonne) saw the biggest increases with a 0.8% gain and lead is the laggard with a 0.4% gain ($2,616 per tonne), while copper prices, at $7,125 per tonne, are up 0.7%. Volume has been high with 11,182 lots traded as of...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Nonferrous metals rallied today, with lead rising 2%. Aluminium and tin edged up about 1% and copper gained slightly. Nickel saw a slight dip today.The ferrous complex also did well today. Rebar led the gain with a 2% rise. Hot-rolled coil climbed nearly 2%, iron ore rose 1.59% and coke gained 1%. Coking coal edged up 0.63%.Copper: SHFE copper traded bet...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Nonferrous metals rallied today, with lead rising 2%. Aluminium and tin edged up about 1% and copper gained slightly. Nickel saw a slight dip today.The ferrous complex also did well today. Rebar led the gain with a 2% rise. Hot-rolled coil climbed nearly 2%, iron ore rose 1.59% and coke gained 1%. Coking coal edged up 0.63%.Copper: SHFE copper traded bet...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Nonferrous metals rallied today, with lead rising 2%. Aluminium and tin edged up about 1% and copper gained slightly. Nickel saw a slight dip today.The ferrous complex also did well today. Rebar led the gain with a 2% rise. Hot-rolled coil climbed nearly 2%, iron ore rose 1.59% and coke gained 1%. Coking coal edged up 0.63%.Copper: SHFE copper traded bet...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Index futures are responding to news that the House of Representatives passed a continuing resolution last night.Fourth quarter reports continue to flow in. Companies that have reported since the close yesterday included Canadian Pacific, American Express, IBM and Schlumberger.Alphabet ga...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper prices are expected to rise, overall, in 2018 despite current declines.This is in line with expectations from financial institutes such as Deutsche Bank, Société Générale and the Chilean state copper commission, Cochilco. All three have raised their price expectations in anticipation of tighter supply.SMM believes that, as i...Read More