Metal Bulletin reviews the major stories that have affected the steel market over the past week.Once again, Metal Bulletin's team has written extensively about the effects of the United States government's recent decision to impose tariffs of 25% on steel imports. Reactions from global economies, the effect on US prices and market comments were all analyzed. You can find a summary of these analyse...Read More
The European Commission (EC) has started a review procedure of anti-dumping measures in place affecting certain organic coated flat steel products from China, the EC said on Wednesday March 14.Following the publication of a notice of expiry of measures in June 2017, European steel association Eurofer lodged a request for review of measures on December 13 last year.Europe's anti-dumping duty on imp...Read More
Indian local secondary billet prices recovered from a steep fall in the first two days of the current week to go up by about 700 rupees per tonne over the past three days on rising finished product prices.Prices for Indian domestic secondary billet, mainly produced via the induction furnace route, ended the week at 33,000-33,400 rupees ($508-514) per tonne ex-mill, narrowing from Metal Bulletin's...Read More
Slab export prices from Brazil rose this week, with offers approaching the $600 per tonne fob mark while buyers were left with few options to procure material from CIS and Brazilian suppliers.Metal Bulletin's weekly assessment of Brazil export slab reached $580-590 per tonne fob on Friday March 16, up from $560-570 per tonne fob a week earlier. Sparse domestic offers were reported within the $580-...Read More
Domestic prices for rebar in Poland have been largely stable this week due to limited market activity, sources told Metal Bulletin on Friday March 16.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,300-2,350 zloty ($674-689) per tonne ex-works on March 16, compared with 2,300-2,340 per tonne ex-works a week...Read More
Coated coil producers in Turkey mostly kept their prices unchanged this week amid moderate demand in the domestic market. Domestic prices One Northern Turkish producer was offering 0.50mm gauge hot-dipped galvanized (HDG) coil at $860-865 per tonne ex-works this week, while a second producer in the same region was offering the same product at $900 per tonne ex-works. A southern producer...Read More
Flat steel prices in Turkey's domestic market went down slightly this week, while import and export prices were unchanged amid weak demand, market participants told Metal Bulletin on Friday March 16.Local producers were fully booked until June.Domestic pricesHot-rolled coil (HRC) producers in Turkey have been offering material at $670 per tonne ex-works for late-May and early-June production, whil...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday March 16:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.75-12.85 per lb from $12.85-12.95 per lbMolybdenum US canned molybdic oxide, $/Ib $12.90-13.10 per Ib from $13.00-13.10 per lbFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $30.70-30.90 per kg from $30.80-31.35 per kgFer...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 Will PurcellThe diamond and specialty minerals stocks box score for Friday was a rousing 97-59-134. The TSX Venture Exchange gained five points to 833 while polished diamond prices fell 0.2 per cent. Michel Baril and Guy Bourassa's Nemaska Lithium Inc. (NMX) jump...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 Stockwatch Business Reporter West Texas Intermediate crude for April delivery gained $1.15 to $62.34 on the New York Merc, while Brent for May gained $1.09 to $66.21 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.25 to WTI ($...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 Stockwatch Business ReporterNew York spot gold lost $2.10 to $1,313.60 on Friday. The TSX Venture Exchange rose 5.59 points to 833.67 while the TSX Gold Index added 0.64 point to 183.93. Agnico Eagle Mines Ltd. (AEM) led Canadian gold miners higher today, adding...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 Stockwatch Business ReporterThe TSX Venture Exchange closed up 5.59 points to 833.67 Friday, ending the week up 4.77 points. Chuck Rifici's first capital pool shell, the halted Buzz Capital Inc. (BUZ), plans to acquire a Jamaican marijuana producer called Kaya In...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 CaswellFormer Scotia Capital Inc. employee Donna Molby has filed a lawsuit against the firm in the Supreme Court of British Columbia, claiming that Scotia Capital wrongfully dismissed her in an effort to get her $166-million book of business. She claims that...Read More
Iron ore output at Anglo American's Brazilian Minas-Rio operation is still halted after a slurry pipeline rupture, but shipments are not expected to be affected, it told Metal Bulletin on Friday March 16."So far, there is no impact forecast," the miner said. "There are around 700,000 tonnes of iron ore stocked, which is a sufficient volume to meet the shipping schedule of the next vessels."The com...Read More
German steelmakers have settled their monthly scrap contracts for March with an average price increase of ?,?20 per tonne, sources told Metal Bulletin on Friday March 16.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany for February was ?,?280-300 ($346-370) per tonne delivered, up from ?,?265-280 per tonne delivered in February.The lower end of the assessment reflec...Read More
The Turkish deep-sea scrap market remained silent at the end of the week, with only a few short-sea cargoes being booked for urgent requirements, sources said on Friday March 16.Some short-sea cargoes were booked at $361-365 per tonne cfr for CIS-origin A3-grade scrap, market participants said.Other than those transactions, there have been no deep-sea trades heard so far this week.A scrap supplier...Read More
Ahh porphyries, conjuring vision of untold riches hidden in the bleak hills of the Andes or the mosquito infested jungles of Indonesia and Colombia.However, ignoring the BS that explo-cos spout about their project being great because in reality, most aren't.The CAPEX for a decent sized porphyry (or any large scale mine) typically run into the billions. No junior company can ever develop them, and...Read More
Iron ore prices tumbled on Friday March 16 following a decline in the futures market amid doubts whether downstream demand for steel in China has truly started to recover after the Chinese New Year.Metal Bulletin's 62% Fe Iron Ore Index Today: $69.84 per tonne cfr QingdaoDaily change: down $2.27 per tonneMonth-to-date average: $73.61 per tonneMetal Bulletin's 58% Fe Premium Index Today: $56.91 per...Read More
The seaborne coking coal market took a breather on Friday March 16, though buyers outside of China are still anticipating prices to experience a downward correction.A cargo of mid-vol premium hard coking coal was traded at $215 per tonne fob Australia while a lower-ranked second-tier product changed hands at $182 per tonne fob Australia, sources told Metal Bulletin during the day. "The market is s...Read More
Seaborne iron ore prices fell below $70 per tonne cfr China again on Friday March 16 with sentiment deteriorating amid declining futures. Key drivers Doubts have emerged in the market over whether downstream demand for steel products had truly started to recover.China's major ports had 159.37 million tonnes of iron ore on Friday, up 742,000 tonnes from a week earlier. The increase was concentrated...Read More