Turkey's ministry of economy removed the country's import duty on rebar on Monday January 1, sources told Metal Bulletin this week.The ministry had previously cut the import tax to 10% from the previous 30% on July 28, due to high domestic rebar prices.Metal Bulletin's weekly price assessment for domestic...Read More
Prices for imported steel billet and rebar in the UAE and Saudi Arabia have increased, while domestic rebar prices in the UAE have remained stable, sources told Metal Bulletin this week. Demand for locally produced rebar, meanwhile, was strong in and market participants expect prices to increase. Billet Iranian mills were offering billet at $535-540 per tonne cfr to the UAE, while billet from Gulf...Read More
The Turkish deep-sea scrap market remained silent on Tuesday January 2, as suppliers remained out of the market, sources told Metal Bulletin.Steel mills in the country paused their deep-sea bookings two weeks ago, but are expected to book more cargoes for February.However, suppliers have stayed away during the New...Read More
The Indian imported ferrous scrap market spent much of 2017 under pressure from new government regulations and the ability of Pakistani counterparts to pay higher prices.The Indian import ferrous scrap market spent much of 2017 under pressure from new government regulations and the ability of Pakistani counterparts to pay higher prices.The introduction of the goods and services tax (GST) in July,&...Read More
Iron ore prices jumped to almost $75 per tonne cfr China on Tuesday January 2 amid higher billet and port prices.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.71 per tonne cfr Qingdao Daily change: up by $2.10 per tonne Month-to-date average: $74.71 per tonne Metal Bulletin's 58%...Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
Prices for imported steel billet and rebar in the UAE and Saudi Arabia have increased, while domestic rebar prices in the UAE have remained stable, sources told Metal Bulletin this week. Demand for locally produced rebar, meanwhile, was strong in and market participants expect prices to increase. Billet Iranian mills were offering billet at $535-540 per tonne cfr to the UAE, while billet from Gulf...Read More
Commonwealth of Independent States steel export slab and billet prices are expected to level off in the first quarter of 2018 after the erosion of slab's premium to billet in the second half of 2017, sources told Metal Bulletin. But longer-term prospects for the slab-billet spread are uncertain and could depend on Chinese investments in secondary steelmaking capacity. "Our short-term forecast says...Read More
European alloy surcharges for January deliveries of grade-304 cold-rolled (CR) stainless steel sheet have fallen month-on-month amid lower nickel costs.The January alloy surcharge for 2mm grade-304 CR stainless steel sheet - compiled by Metal Bulletin based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,240-1,301 ($1,488-1,561) per tonne.This represents a fall of ?,?59-80 per tonne...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in December 2017.The case list below includes only updates. For other continuing cases in 2017, see the January, February, March, April, May, June, July, August, September, October and November updates.INVESTIGATING REGIONProductOrigin of...Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
Prices are likely to rise in the eurozone manufacturing sector this year following the purchasing managers' index (PMI) for the region reaching a record high in December 2017, data organization IHS Markit said on Tuesday January 2.December's final manufacturing PMI for the eurozone was 60.6, compared with 60.1 in July, amid strong expansions in new orders and output. The reading was the highest re...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in December 2017.The case list below includes only updates. For other continuing cases in 2017, see the January, February, March, April, May, June, July, August, September, October and November updates.INVESTIGATING REGIONProductOrigin of...Read More
A summary of base metals premiums across the globe for the week to Tuesday January 2.Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
Base metals prices were on divergent paths at the close on the London Metal Exchange on Tuesday January 2 while most prices tried to consolidate recent gains. Zinc was one of the strongest performers today, hitting a high of $3,352 per tonne - the highest since August 2007. Lead followed its sister metal higher, closing up 2%. "Zinc has opened 2018 in a bullish mood; still, falling LME stocks sugg...Read More
Flat steel buyers in the United Arab Emirates and Saudi Arabia preferred to wait for new prices to be announced before making any new purchases, sources told Metal Bulletin on Tuesday January 2.There was no new price published after the New Year holiday, and the domestic markets in those countries were trying to get used to the imposition of 5% VAT on January 1, 2018.However, most buyers were expe...Read More
The latest metal markets news and price moves to start the North American day on Tuesday January 2.Base metals prices on the London Metal Exchange have started the year in a strong position with prices mostly in positive territory during morning trading today.This comes following a positive end to the year last week where copper hit a near four-year high and most metals closed near to their 2017 y...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the key news and market stories on Tuesday January 2. Copper prices on the Shanghai Futures Exchange (SHFE) fell during the Asian morning session on the first trading day of 2018 after China's official Purchasing Managers' Index (PMI) came in below market expectations. Check Metal Bulletin's live futures report here. LME snapshot at 0251...Read More