South American flat steel import prices increased significantly this week, with mills in China returning to the market with high-priced offers after the Chinese New Year holiday."On Thursday and Friday last week, the market seemed to open weakly in China, so all mills held their offers," a South America-focused trader said. "Then on Monday, the market opened very strongly, and mills applied strong...Read More
Russia's Magnitogorsk Iron & Steel Works (MMK) may increase its supply of hot-rolled coil (HRC) to the spot market if it restarts the melting shop at MMK Metalurji in Turkey, Metal Bulletin has heard."If they [restart the melting shop and the strip mill], then they will sell more [HRC] in the Middle East-North Africa market and maybe in Asia," a trader who works with MMK told Metal Bulletin.He add...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGIHot-rolled coilTurkey, domestic, hot-rolled coil, offered at $660-670 per tonne ex-works, May production.Turkey, domestic, hot-rolled coil, traded at $6...Read More
Some coated coil producers in Turkey have raised their prices this week, but market participants were expecting prices to increase further.Domestic pricesOne Northern Turkish producer was offering hot-dipped galvanized (HDG) coil in 0.50mm gauge at $830 per tonne ex-works this week, while a second producer in the same region was fully booked until late May and did not offer any price.https://www.m...Read More
Flat steel prices in Turkey's domestic, import and export markets kept increasing this week amid strong demand, market participants told Metal Bulletin on Friday March 2.Local producers were fully booked until the middle of May, and were not giving discounts.Domestic pricesHot-rolled coil (HRC) producers in Turkey have been offering material at $660-670 per tonne ex-works for May production, up fr...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellU.S. authorities have arrested two Florida men accused of arranging a pump-and-dump with HD View 360 Inc., a purported surveillance systems provider. The government claims that the men were plotting a $2-million scheme, and that some of the related or...Read More
Indian local secondary billet prices rose by 100 rupees ($2) per tonne week on week on Friday March 2, after recovering from significant fall on Monday and Tuesday. Metal Bulletin's price assessment for domestic billet in India, which is mainly produced through the induction furnace route, ended the week at 33,100-33,700 rupees per tonne ex-mill, up 100 rupees compared with&nbs...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellU.S. authorities have arrested two Florida men accused of arranging a pump-and-dump with HD View 360 Inc., a purported surveillance systems provider. The government claims that the men were plotting a $2-million scheme, and that some of the related or...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday March 2:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $13.00-13.20 per lb from $12.80-12.85 Molybdenum US canned molybdic oxide, $/Ib $12.90-13.10 per Ib from $12.60-12.75 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $31.00-31.30 per kg from $30.60-30.75 Ferro-molybdenum US 6...Read More
A manganese ore price ceiling agreed by Chinese alloy smelters has collapsed a day after representatives agreed not to pay more than $8 per dry metric tonne unit for low-grade ore, Metal Bulletin understands. Representatives from manganese alloy smelters met on Thursday March 1 and agreed a price ceiling for 37% manganese ore after prices for the raw material continued to soar, several market sour...Read More
Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel have all raised their high-carbon ferro-chrome tender prices month on month for March due to tight supply of the stainless steel raw material, higher chrome ore prices and rand appreciation. Tisco has bid 7,750 yuan ($1,221.42) per tonne for high-carbon ferro-chrome for March delivery,100 yuan higher than its February tender price. The day...Read More
Shipping rates for mineral commodities are expected to increase through to 2020 as stringent regulatory frameworks force ship owners' costs upwards, delegates heard at the 24th Bauxite & Alumina conference in Montego Bay, Jamaica this week. Despite two challenging years for the global shipping industry, dogged by overcapacity and financial issues on the part of some of its main players, the near-t...Read More
Strengthening export demand from Europe to key destinations such as Turkey and the Indian subcontinent has pulled up prices for light iron, grade-5C steel scrap in the United Kingdom this week, sources told Metal Bulletin on Friday March 2.The UK light iron scrap market has now moved up for three weeks in a row. Metal Bulletin's price assessment for UK grade-5C ferrous scrap on an inter-merchant b...Read More
Prices for imports of containerized shredded scrap into India are expected to continue to rise over the coming week, market sources told Metal Bulletin on Friday March 2.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $391.83 per tonne cfr Nhava Sheva on Friday, compared with $382.52 per tonne cfr last week.Indian mills have enjoyed prosperous export market...Read More
Industrial Metallurgical Holding (IMH) - the Russian company that manages the country's largest pig iron supplier, Tulachermet - expects that the appetite of the US market for pig iron may increase in the Section 232 fallout, it told Metal Bulletin."We can assume that the decision [to impose trade tariffs under Section 232] will significantly increase the utilization rate of steelmaking capacities...Read More
Turkish scrap import prices have continued to increase in line with demand from the country's steel producers, sources said on Friday March 2.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $362.81 per tonne cfr, up by $5.76 per tonne day-on-day.The daily index for similar US-origin scrap closed at $372.43 per tonne...Read More
Major steel producer Nippon Steel & Sumitomo Metal Corp (NSSMC) expects demand and profit margins for steel to remain high in Japan for the next three years, a senior official has told Metal Bulletin.The forecast is based on tight market fundamentals and healthy demand from downstream industries, as well as indirect demand for infrastructure projects associated with the Tokyo Olympic Games in 2020...Read More
Iron ore prices slipped to $78 per tonne cfr China on Friday March 2 after both the futures and steel markets weakened.Metal Bulletin's 62% Fe Iron Ore IndexToday: $78.34 per tonne cfr QingdaoDaily change: down by $1.05 per tonneMonth-to-date average: $78.87 per tonneMetal Bulletin's 58% Fe Premium IndexToday: $61.67 per tonne cfr QingdaoDaily change: down by $0.38...Read More
Trading activity in the seaborne coking coal market picked up ahead of the weekend, which saw the first cargo of premium low-vol product being sold to a Chinese buyer on a fixed-price basis in at least a week.The top-tier cargo changed hands around $238 per tonne cfr China, sources told Metal Bulletin on Friday March 2. A cargo of second-tier materials was also traded at $195 per tonne fob Austral...Read More
Deliverable copper stocks at Shanghai Futures Exchange-approved warehouses have continued to increase during the week to Friday March 3, while lead saw the greatest declines.Copper stocks increased 41,755 tonnes to 260,287 tonnes this week, up 19.1% from 218,532 tonnes recorded on February 23 when the market reopened after the Lunar New Year holidays. Zhongchu Wusong warehouse in Shanghai sa...Read More