The United States' Section 232 tariff on steel imports will help ease global steel overcapacity and boost domestic production, but it is only one step toward achieving those goals, according to industry executives. "Tariffs in the US alone won't curb global overcapacity. It's a global issue and we have to work with our partners to counteract it," Steel Dynamics Inc (SDI) president and chief execut...Read More

Latin American steelmaker Gerdau sees the results of the Section 232 investigations of steel imports into the United States as being "positive" for the company, chief executive officer Gustavo Werneck has said."From the Gerdau North America perspective, the quotas [imposed by the US government after the conclusion of the process] will contribute to reducing imports and increasing the company's uti...Read More

Tata Steel Europe has begun to seek potential buyers for its non-core business units so as to strengthen its forecast for the steel strip business, the company said on Tuesday May 8.The sale process will include five business units.The first is Cogent, a manufacturer and processor of electrical steels. It has three assets, at Newport in South Wales in the UK, at Burlington in Ontario in Canada, an...Read More

Wire rod processors have called for the removal of the material from the list of products targeted by the safeguard investigation opened by the European Commission (EC) into imports of steel from non-EU origins."The imposition of safeguard measures on imports of this product would only serve to exacerbate the persistent shortages in the market, which we highlighted to the Commission two years ago,...Read More

The following Metal Bulletin minor metals prices changed on Wednesday May 9:Minor metals Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 50,000-51,000 yuan per tonne from 51,000-51,500 yuan per tonneBismuth MB free market, $/lb: $4.90-5.30 per lb from $5.10-5.35 per lbCadmium MB free market min 99.95%, cents/lb: 135-150 per lb from...Read More

The following Metal Bulletin noble alloys and ores prices changed on Wednesday May 9:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.80-11.90 per lb from $12.30-12.40 per lbFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $28.80-29.10...Read More

The stainless steel scrap market has little sparkle, with prices dropping slightly in the United States."There is not a lot of concern over business as melt rates continue to be good but there does seem to be a tangible concern on oversupply," one US processor source said. "With that realization in the marketplace, there is a tweaking of prices that are lower for this week."American Metal Mar...Read More

US ferrous scrap export prices to Turkey bounced off of the bottom with a fresh sale from the East Coast on Tuesday May 8, but the turnaround in the bulk market was eclipsed by a large reduction in shredder feed prices at export yards. Two cargoes were sold off the East Coast to Turkey over the past seven days. The first bulk sale, which transacted on May 4 at $359 per tonne cfr for shredded...Read More

China's domestic and export coke prices gained some upward momentum over the past week thanks to higher mill margins and continued measures intended to reduce pollution.Metal Bulletin's assessment of export prices for Chinese coke with 65% coke strength after reaction (CSR), 12.5% ash, 30-90mm, was $320-330 per tonne fob China for the week ended Tuesday May 8.This was up by $5 per tonne from $315-...Read More

Turkish steel producers stayed out of the market on Wednesday May 9, with no deep-sea transactions reported amid holidays in Russia and Ukraine, sources told Metal Bulletin.The Ukrainian and Russian markets were closed for Victory Day holidays on Wednesday.Market participants nonetheless said that Baltic Sea-origin HMS 1&2 (80:20) will be about $357 per tonne and $360 per tonne cfr&...Read More

Seaborne iron ore trading activity increased on Wednesday May 9, with lower fixed prices but steadier premiums.Metal Bulletin 62% Fe Iron Ore Index: $66.46 per tonne cfr Qingdao, down by $0.34 per tonne Metal Bulletin 58% Fe Premium Index: $54.29 per tonne cfr Qingdao, down by $1.25 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.20 per tonne cfr Qingdao, unchangedMetal Bulletin 62% Fe China P...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. ...Read More

Seaborne coking coal prices continued to edge higher on Wednesday May 9 with buyers taking positions before prices increase further in a rising market.A premium mid-vol cargo with May 20-30 laycan, was sold at $195.50 per tonne cfr China to an end user, sources told Metal Bulletin. This is $2.50 per tonne higher than a transaction for the same brand a day earlier. A lower-ranked second-t...Read More

Ferrous scrap will increasingly replace natural resources as the main raw material to produce steel, according to the World Steel Association (Worldsteel) head of raw materials, Dr Baris Bekir ??ift??i.This is mainly due to ferrous scrap's increasing availability globally, as well as structural reforms in major steelmaking countries to increase the usage of electric-arc furnaces in the steel produ...Read More

The latest news and price moves to start the Asian day on Thursday May 10.Base metals prices on the London Metal Exchange were firm at the close of trading on Wednesday May 9, with copper's 1% climb leading a positive afternoon surge across the complex. Read more in our live futures report.Here are how prices looked at Wednesday's close:Latin American steelmaker Gerdau sees the results of the...Read More

Aluminium stocks at London Metal Exchange-approved warehouses have fallen by over 100,000 tonnes since the United States slightly loosened sanctions against Russian producer UC Rusal, leading to traders becoming more willing to deal with old stocks. As of Wednesday May 9, total aluminium stocks on the LME have declined 108,600 tonnes, more than 7%, since the US Department of the Treasury's Office...Read More

The latest metal markets news and price moves to start the North American day on Wednesday May 9. Base metals on the London Metal Exchange edged slightly higher during morning trading, with nickel the only metal in the complex to trade lower."The base metals' recent attempts to rally ran into supply and prices are consolidating once again. The combination of less than bullish economic data, the st...Read More

Glencore-owned Access World opened a new warehouse in Dubai on Wednesday May 9 in partnership with Rais Hassan Saadi (RHS) Group, part of its continued multi-product push beyond London Metal Exchange metals.The $11 million facility is located on a plot of 40,000 square meters in the Jebel Ali free zone, with 15,200 square meters of covered space.Its total storage capacity exceeds 100,000 freight t...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

Base metals prices on the London Metal Exchange were mixed on the morning of Wednesday May 9, with all the metals, except tin (+0.2%) and lead (+0.3%), down by an average of 0.3%. Copper prices were off 0.4% at $6,785 per tonne.Volume on the LME has been below average, with 5,734 lots traded as at 07.37 am London time. This follows on from what turned out to be a generally negative day on Tuesday,...Read More