China's domestic stainless steel prices rebounded slightly over the past week on gains in the nickel market.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,200-15,500 yuan ($2,339-2,385) per tonne including VAT for the week ended Thursday January 4, narrowing upward from 15,000-15,500 yuan per tonne a week earlier. Market partic...Read More
Automobile production in Argentina edged down by 0.1% year on year in 2017.Car output came to 472,158 units last year, down from 472,776 units in 2016, according to figures released by national auto association Adefa on Thursday January 4. Sales to the domestic...Read More
Car production in Brazil grew by 25.2% year on year in 2017, mainly led by record exports, according to figures released by national automobile association Anfavea on Friday January 5.Output totaled 2.7 million units, against 2.16 million vehicles in 2016.Brazilian car exports hit an annual record in 2017, at 762,033 units, up by 46.5% from 2016's level of 520,137...Read More
Steel exports from the Middle East, CIS and India are expected to be the main price setters in Asia in 2018, as production cuts in China over most of the first quarter leave a gaping hole for them to continue to wrestle their way in.Steelmakers in India, Turkey and the Middle East will likely find it easier to raise their offers this year due to Chinese steel products losing their competitiveness,...Read More
Domestic flat steel prices in Argentina increased for the second consecutive month in January.Metal Bulletin's monthly price assessment of Argentina's domestic hot-rolled coil (HRC) reached $720-735 per tonne ex-works on Friday January 5, compared with $705-725 per tonne ex-works in the previous month.Prices for cold-rolled coil (CRC) rose to $840-845, from $825-835, and hot-dipped galvanized coil...Read More
Scarce supply in global scrap markets pushed up import prices to both India and Taiwan in the working week from Monday January 1 to Friday January 5, while market activity has remained low in the bellwether Turkish market.Turkey importsNo deals were concluded by Turkish mills for imported bulk scrap cargoes during the week, with many suppliers still on holiday until next week.Turkish steel mills w...Read More
Prices for shredded and HMS grades of steel scrap imported in containers into India soared upward this week, with the country's domestic finished steel markets enjoying a strong start to the year.Metal Bulletin's index for Indian imported shredded scrap rose to $374.09 per tonne cfr Nhava Sheva on Friday January 5, up by $22.61 per tonne from the $351.48 per tonne cfr recorded on December 22.The l...Read More
Base metals prices on the London Metal Exchange closed mostly lower on Friday January 5 although tin bucked the trend.The three-month copper price ended $67.50 lower back below $7,200 per tonne at a one-week low. "The complex may have reached slightly overbought levels, however, and most of the positive catalysts may have been priced in," Metal Bulletin analyst Andy Farida said. "It would not surp...Read More
The latest metal markets news and price moves to start the North American day on Friday January 5.Base metals prices on the London Metal Exchange mostly stepped slightly lower during morning trading but are generally consolidating at higher levels.Aluminium fell $12.50 but is still in a strong position, with supply-side reforms in China continuing to burnish its underlying fundamentals. The three-...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the key news and market stories on Friday January 5. SHFE copper prices retreated in Asian morning trading on Friday January 5 after surging in the previous afternoon's session, as the market awaits US payroll numbers due out tonight.Check Metal Bulletin's live futures report here. LME snapshot at 0232 London timeLatest 3M LME Pric...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metals Two trading companies have accepted Nornickel's $300 per tonne nickel premium for 2018, while the majority of Nornickel's long-term contract premium negotiations cif China are still in the air. Striking workers at Empresa Nacional de Mineria's (Enami's) copper smelter in Chile...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices started 2018 on a rise, gaining further ground on Friday January 5 to $76.80 per tonne cfr Qingdao despite the Chinese steel market retreating again.There was barely any movement in the seaborne coking coal market amid a lack of indicative and firm bids, with buyers still trying to figur...Read More
Steel exports from the Middle East, CIS and India are expected to be the main price setters in Asia in 2018, as production cuts in China over most of the first quarter leave a gaping hole for them to continue to wrestle their way in.Steelmakers in India, Turkey and the Middle East will likely find it easier to raise their offers this year due to Chinese steel products losing their competitiveness,...Read More
Base metals prices on the London Metal Exchange closed mostly lower on Friday January 5 although tin bucked the trend.The three-month copper price ended $67.50 lower back below $7,200 per tonne at a one-week low. "The complex may have reached slightly overbought levels, however, and most of the positive catalysts may have been priced in," Metal Bulletin analyst Andy Farida said. "It would not surp...Read More
The massive waves recorded in London Metal Exchange copper stocks could subside in 2018, with the big bull buying up tonnage to meet the coming year's commitments and deliveries from the bears to the exchange expected to return to their normal pace seen before 2016. The battle between two major trading houses that played out in the LME copper warehouses began in 2016, causing prices to rise and fa...Read More
Iron ore prices edged up and remained above $76 per tonne cfr China on Friday January 5 despite a further retreat in Chinese steel prices.Metal Bulletin's 62% Fe Iron Ore Index Today: $76.80 per tonne cfr QingdaoDaily change: up by $0.26 per tonneMonth-to-date average: $75.76 per tonneMetal Bulletin's 58% Fe Premium Index Today: $62.32...Read More
Global plug-in electric vehicle (PEV) sales hit 1 million units in 2017, according to a report from Navigant Research.Sales revenues of such vehicles have increased by over 40% every year since the launch in 2011 and it is expected maintain a 38% growth rate in 2020, the reported noted.“Battery costs have dropped dramatically over the past five years and they will continue to go down with th...Read More
Global plug-in electric vehicle (PEV) sales hit 1 million units in 2017, according to a report from Navigant Research.Sales revenues of such vehicles have increased by over 40% every year since the launch in 2011 and it is expected maintain a 38% growth rate in 2020, the reported noted.“Battery costs have dropped dramatically over the past five years and they will continue to go down with th...Read More
Global plug-in electric vehicle (PEV) sales hit 1 million units in 2017, according to a report from Navigant Research.Sales revenues of such vehicles have increased by over 40% every year since the launch in 2011 and it is expected maintain a 38% growth rate in 2020, the reported noted.“Battery costs have dropped dramatically over the past five years and they will continue to go down with th...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.U.S. equity index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for December Non-farm Payrolls was 190,000 versus revised 211,000 in November. Actual was148,000. Consensus for December Unemployment Rate was unchanged at 4.1% from November. Ac...Read More