China's domestic hot-rolled coil prices recovered some losses on Thursday January 18 on gains in the futures market.Domestic Eastern China (Shanghai): 4,090-4,120 yuan ($636-640) per tonne, narrowed upward by 10 yuan per tonne Northern China (Tianjin): 3,930-3,950 yuan per tonne, up 10 yuan per tonne Sellers raised offers following the gains in the paper market and...Read More
China's ferrous futures ended morning trading little changed from their opening prices again on Thursday January 18. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,834 ($596) per tonne, down 3 yuan per tonne May hot-rolled coil: 3,846 yuan per tonne, down 1 yuan per tonne Dalian Commodity Exchange...Read More
Turkey's Tosyali Holding is planning to build a steel plant in Ethiopia, Africa, the company announced this week.The mill will produce billet and rebar, and will reduce the country's reliance on imports, chairman Fuat Tosyali said on Wednesday January 17.The company chairman visited Ethiopia last week to meet with the country's minister of foreign investments, Aklilu Hailemicheal.Fu...Read More
Turkish domestic rebar and wire rod prices continued to remain firm this week, in line with good demand in the country's local market.Metal Bulletin's weekly price assessment for domestic rebar on Thursday January 18 was $570-575 per tonne ex-works, widening upward from the $570-572 per tonne of last week.The domestic...Read More
The Turkish deep-sea scrap market continued to remain quiet on Thursday January 18, with Turkish steel mills staying away due to the current high prices, sources told Metal Bulletin.Turkish steel producers were expecting to be back for more February cargoes, but they are struggling with softening rebar export values and weak demand in the country's major export markets.Suppliers in the United Stat...Read More
Seaborne iron ore prices saw marginal gains on Thursday January 18 with Metal Bulletin's 62% Fe Iron Ore Index nudging up amid rising port prices and a stronger futures market. Metal Bulletin's 62% Fe Iron Ore IndexToday: $74.87 per tonne cfr Qingdao Daily change: Up by $0.36 per tonne per tonne Month-to-date average: $76.64 per tonne Metal Bulletin's...Read More
The downward momentum in the seaborne iron ore market slowed on Thursday January 18 with strengthening port prices.Key drivers Rising port prices and stronger futures curves on all ferrous products have bolstered seaborne iron ore prices from further slides. Metal Bulletin's 62% Fe fines index has been dropping since it hit a five-month-high near to $80 per tonne last Thursday. Only high grade fin...Read More
Egypt's steel billet import prices have decreased this week, while domestic rebar prices remained unchanged in the week to Thursday January 18.Egypt's steel billet import prices declined this week because buyers were bidding for lower prices."Latest deal I heard was in December. The market has been silent since then," a...Read More
Healthy profit margins sent China's crude steel output to a new high in 2017 after dropping closer to the 800-million-tonne mark in the two preceding years. The world's second-largest economy produced a total of 831.73 million tonnes of crude steel last year, according to data released by the National Bureau of Statistics (NBS) on Thursday January 18. This is up 5.7% from a year earlier, the burea...Read More
China's domestic rebar market maintained its upward momentum on Thursday January 18 amid active trading. Domestic Eastern China (Shanghai): 3,760-3,830 yuan ($584-595) per tonne, up 20-30 yuan per tonne Northern China (Beijing): 3,800-3,820 yuan per tonne, up 20-30 yuan per tonne Trading houses actively purchased rebar throughout the day to build up their inventories on seeing the steady gains in...Read More
Robust nickel prices appear to be providing some support to East Asia's stainless steel market amid persistently weak demand.Chinese producers are raising their offers for both stainless cold-rolled coil and hot-rolled sheet due to higher prices for nickel this month, despite soft demand and low bids from buyers.The three-month nickel contract on the London Metal Exchange is averaging at $12,649 p...Read More
Mexico's Ministry of Economy has removed definitive countervailing duties on certain imports of graphite electrodes from China and the United Kingdom, according to the International Rebar Producers & Exporters Association (Irepas).Effective immediately, Mexico will not apply duties to graphite electrode imports from China or the UK, Irepas said on Wednesday January 17. Mexico imposed duties as hig...Read More
Healthy profit margins sent China's crude steel output to a new high in 2017 after dropping closer to the 800-million-tonne mark in the two preceding years. The world's second-largest economy produced a total of 831.73 million tonnes of crude steel last year, according to data released by the National Bureau of Statistics (NBS) on Thursday January 18. This is up 5.7% from a year earlier, the burea...Read More
Summary of BHP's production results for the three months ended December 31, 2017.(year-on-year change) Copper 429,000 tonnes, +20% Iron ore 62 million tonnes,...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close on Thursday January 18, with only tin bucking the higher trend. Aluminium prices closed over 2% higher than Wednesday's close price supported by stronger-than-expected Chinese data and the dollar weakening once more. "Judging by its current technical configuration, LME aluminium continues to consolidate from recent gai...Read More
Oyu Tolgoi has declared force majeure on copper, gold and silver concentrate shipments to customers due to a protest by Chinese coal transporters in the area of the Ganqimaodu border zone, Turquoise Hill Resources said. Safe and normal mine operations, including underground development, have been maintained and no production impact is expected, the company added. The protestors used a large number...Read More
The Turkish deep-sea scrap market continued to remain quiet on Thursday January 18, with Turkish steel mills staying away due to the current high prices, sources told Metal Bulletin.Turkish steel producers were expecting to be back for more February cargoes, but they are struggling with softening rebar export values and weak demand in the country's major export markets.Suppliers in the United Stat...Read More
Turkish domestic rebar and wire rod prices continued to remain firm this week, in line with good demand in the country's local market.Metal Bulletin's weekly price assessment for domestic rebar on Thursday January 18 was $570-575 per tonne ex-works, widening upward from the $570-572 per tonne of last week.The domestic...Read More
The latest metal markets news and price moves to start the North American day on Thursday January 18.Base metals prices on the London Metal Exchange were back trading in positive territory this morning, supported by slightly stronger Chinese data.Here is how the LME base metals complex looked at 12.43pm London time:For a snapshot of exchange news, check out our live futures report.The LME has appo...Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Thursday January 18.Base metals prices on the Shanghai Futures Exchange were generally higher during Asian morning trading on Thursday with copper prices outperforming, while the others gave a more subdued performance ahead of key Chinese data releases today. Check Metal Bulletin's live fu...Read More