The Turkish Steel Producers' Association (T???oeD) is worried that the country's imports of rebar and hot-rolled coil (HRC) will increase because of cuts to import duties, it said on Monday January 8.The 10% import duty on rebar was removed completely on January 1 and the duty on HRC was reduced to 3.5%...Read More
Import prices for rebar in Singapore have increased following end-users' return to the spot market after the year-end holiday season.Metal Bulletin's price assessment for Southeast Asian rebar imports - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $570-580 per tonne cfr for the week to Monday January 8, up $10-15 per tonne from the previous week. Bids had i...Read More
Turkish steel mills returned to the deep-sea scrap markets willing to pay higher prices on Monday January 8.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $368.20 per tonne cfr, up by $6.58 per tonne.The daily index for US-origin scrap closed at $378.85 per tonne cfr. Up by $9.34 per tonne, putting the premium for US material...Read More
Turkish domestic scrap prices increased in line with rising imported scrap values on Monday January 8.The majority of Turkish steel producers raised their auto bundle (DKP grade) scrap purchasing prices over the past week.Alloy long steel mill Asil ??elik raised its buy price to TRY1,370 ($366) per tonne delivered, while long and flat steel producer ??olakoglu increased its price to TRY1,340...Read More
Iron ore prices jumped to almost $78 per tonne cfr China on Monday January 8 as the futures market gained strength.Metal Bulletin's 62% Fe Iron Ore Index Today: $77.74 per tonne cfr QingdaoDaily change: up by $0.94 per tonneMonth-to-date average: $76.15 per tonneMetal Bulletin's 58% Fe Premium Index Today: $62.58 per tonne cfr QingdaoDaily...Read More
Import prices for steel billet in Southeast Asia nudged up slightly as trading activity picked up after the end-of-year lull in trading activity.Metal Bulletin's weekly assessment for billet imports in Southeast Asia was $535-545 per tonne cfr on Monday January 8, up $5 per tonne from $530-540.China-origin billet was being offered at $520-530 fob China to Asian import markets, with buyer...Read More
China's ferrous futures prices turned around to surge late in the afternoon on Monday, January 8 after the country's officials declared stricter steel capacity replacement criteria to be implemented from this year.The production facilities that will be allowed to have capacity replaced will only include those recorded in capacity replacement plans approved by local or central governments...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Friday January...Read More
China's ferro-chrome market weakened over the past week amid a lull in activity after domestic mills wrapped up their latest round of purchasing negotiations, while ore prices were supported by tight supply and firm demand from smelters. Domestic Chinese ferro-chrome prices slide as purchasing wave ends South African and Turkish ore markets gain on tight supply European high carbon ferro-chrome pr...Read More
Seaborne manganese ore prices held steady over the past week, while alloy prices weakened in China in anticipation of smelter restarts. Manganese ore prices gain a few cents week on week Chinese alloy prices weaken as market awaits Ningxia restarts Silico-manganese prices rise in India on rupee and steel sector strength European alloy prices rise on tighter prompt availability US silico-manganese...Read More
Light automotive production in Mexico hit an annual record high in 2017, at 3.77 million units, the country's automobile association, Amia, said on Monday January 8.This represented an increase of 8.90% from 2016's output of 3.46 million vehicles.This positive result was mostly due to demand from export markets, according to the group.Exports of Mexican light auto...Read More
The seaborne iron ore market received a boost on Monday January 8 froma strong futures market. Key drivers China's Ministry of Industry & Information Technology (MIIT) announced on Monday that no new capacity will be allowed in the steel, cement and flat glass industries, and issued specific requirements for steel mills replacing old with new capacities. The announcement s...Read More
China's ferrous futures prices turned around to surge late in the afternoon on Monday, January 8 after the country's officials declared stricter steel capacity replacement criteria to be implemented from this year.The production facilities that will be allowed to have capacity replaced will only include those recorded in capacity replacement plans approved by local or central governments...Read More
Codelco's Ventanas smelter in Chile achieved record-high copper cathode production in 2017 despite stricter environmental regulations and a more complex global scenario for smelters, the company said on Monday January 8.Ventanas' cathode production reached record levels for the fourth consecutive year. Output totaled 410,024 tonnes in 2017, up by 2,700 tonnes...Read More
Aluminium was the only metal that ended lower at the end of trading on the London Metal Exchange on Monday January 8.The three-month aluminium price ended around 1.2% lower than its pre-weekend closing level at $2,175 per tonne.Around 14,000 lots changed hands by the 5pm close, outpacing copper by about 2,000 lots.Stocks fell a net 3,600 tonnes to 1,095,875 tonnes. Although on-warrant aluminium st...Read More
NFEx Markets' chief operating officer and its most senior director, Mark Bradley, has resigned from the board alongside non-executive director Jim Coupland, filings on the UK's Companies House show on Monday January 8.The over-the-counter base metals trading platform is due to start trading in the coming months.Bradley and Coupland will remain advisers to NFEx alongside former London Metal Exchang...Read More
Turkish steel mills returned to the deep-sea scrap markets willing to pay higher prices on Monday January 8.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $368.20 per tonne cfr, up by $6.58 per tonne.The daily index for US-origin scrap closed at $378.85 per tonne cfr. Up by $9.34 per tonne, putting the premium for US material...Read More
The latest metal markets news and price moves to start the North American day on Monday January 8.Lead and zinc began the week slightly higher while the rest of the base metals on the London Metal Exchange came under pressure this morning. Zinc was Monday morning's best performer, up $13 to $3,365 per tonne. Aluminium, meanwhile, continued to slip marginally lower, down $12 to $2,193.50 per tonne....Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Monday January 8.Base metals prices on the Shanghai Futures Exchange were weaker across the board during Asian morning trading on Monday, with the complex coming under pressure from news that researchers at China's central bank have agreed that the time may be right to raise interest rates...Read More
Aluminium was the only metal that ended lower at the end of trading on the London Metal Exchange on Monday January 8.The three-month aluminium price ended around 1.2% lower than its pre-weekend closing level at $2,175 per tonne.Around 14,000 lots changed hands by the 5pm close, outpacing copper by about 2,000 lots.Stocks fell a net 3,600 tonnes to 1,095,875 tonnes. Although on-warrant aluminium st...Read More