Prices for imported billet in the United Arab Emirates fell this week on lower offers, while strong demand pushed up domestic rebar prices, sources told Metal Bulletin on Tuesday March 27.Demand for imported rebar in both the UAE and Saudi Arabia remained weak, however. Domestic rebar The major rebar producers in the UAE announced new rebar prices on Monday, March 26. The biggest steel p...Read More
The latest metal markets news and price moves to start the North American day on Tuesday March 27. Base metals prices on the London Metal Exchange were higher across the board during morning trading. The market mostly ignored possible trade tensions between the United States and China and market sentiment has improved to boost prices. "It seems that the risks of a possible trade war between the US...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Tuesday March 27.Base metals prices on the Shanghai Futures Exchange rebounded during Asian morning trading on Tuesday, buoyed by a weaker dollar and an improvement in risk appetite after fears of an escalation in tensions between the United States and China receded.Check Metal Bulletin's l...Read More
Listening to hysterical commentary from the mainstream media about President Trump's tariff proposals, one would think his policies were in violation of the U.S. Constitution. Nothing could be further from the truth.In fact, tariffs are as American as apple pie.America grew rich and powerful from 1787-1962, a period of 175 years, using tariffs, subsidies and other barriers to trade to nurture dome...Read More
On Thursday, March 22, the trade war that has been brewing between China and the U.S. broke into full-scale combat.President Trump signed an executive order pursuant to Section 301 of the Trade Act of 1974. This order imposed $50 billion of penalties and tariffs on Chinese exports to the U.S.I have described this as the "nuclear option."Within hours, China fired back. China imposed tariffs on $3 b...Read More
No one plans on becoming incapacitated. That only happens to the other guy. But the hard truth is that the older we get the more likely we'll suffer some loss of mental capacity.In fact, the American Speech-Language-Hearing Association cites says the risk of developing Alzheimer's doubles every five years once you hit 65.Once you get to age 85+, between 25% and 50% of people will exhibit signs of...Read More
Base metal prices on the London Metal Exchange remained high at the close of trading on Tuesday March 27, with only aluminium moving down. Aluminium was the only downward mover, dropping $7.50 to $2,044.50 per tonne while it continues to lack momentum."Its technical configuration is starting to improve and now badly needs follow-up buying to help the price of the light metal to edge higher. Going...Read More
Comex copper prices recovered Tuesday March 27 morning in the US amid easing tensions between the US and China.Copper for May settlement on the Comex division of the New York Mercantile Exchange rebounded 1.25 cents or 0.4% to $2.9825 per lb. Yesterday, the contract collapsed to a September-2017 low."While we treat the current rebound in copper prices cautiously, we are comforted that the copper p...Read More
Base metals prices on the London Metal Exchange were higher across the board during morning trading on Tuesday March 27. The market mostly ignored possible trade tensions between the United States and China and market sentiment has improved to boost prices. "It seems that the risks of a possible trade war between the US and China are being ignored completely on the base metals markets today - whic...Read More
Russian steelmakers have increased their prices for April-rolled rebar sold to the domestic market, sources have told Metal Bulletin.Metal Bulletin's price assessment for Russian domestic 12mm A500C rebar went up to 37,000-37,500 roubles ($647-656) per tonne cpt Moscow, including VAT, on Monday March 26. This compared with 35,000 roubles...Read More
Metal Bulletin and sister publication American Metal Market will follow its published pricing calendar for its base metals and minors, ores and alloys prices over the coming Easter Break. You can find the complete pricing calendar here. Base metals price assessments In summary, all our base metals price assessments and indices follow the holiday calendar adopted by the London Metal Exchange, which...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 27.Please click...Read More
Comex copper prices recovered Tuesday March 27 morning in the US amid easing tensions between the US and China.Copper for May settlement on the Comex division of the New York Mercantile Exchange rebounded 1.25 cents or 0.4% to $2.9825 per lb. Yesterday, the contract collapsed to a September-2017 low."While we treat the current rebound in copper prices cautiously, we are comforted that the copper p...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday March 27*.Copper -$84.75 (-530.86 yuan) Aluminium -$382.83 (-2,397.94 yuan) Zinc -$96.94 (-607.20 yuan) Nickel -$635.82 (-3,982.58 yuan) *Metal Bulletin calculates the physical arbitrage for...Read More
The proposal by Philippine politicians to ban the export of unprocessed mineral ores to boost domestic processing has yet to make further progress, Patricia Bunye, senior partner at law firm Cruz Marcelo & Tenefrancia in the Philippines, said. "It's not catching fire as the industry knows the limitations of infrastructure in the country," Bunye told Metal Bulletin on the sidelines of the Mining In...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) is negotiating with authorities in the United States to obtain quotas to export slab, tinplate and "some volumes" of hot-rolled coil without tariffs linked to the Section 232 investigation."Negotiations are at full steam, and [the US] will apply voluntary restraint agreements - country by country," CSN commercial executive director Luis Fe...Read More
TimkenSteel will raise its special bar quality (SBQ) product prices by $50-150 per ton effective Wednesday March 28, the company said in a leading move on Tuesday. The move comes after SBQ mills in the United States slated base price increases effective with April 1 shipments. US producers raised SBQ base prices three times...Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) expects to conclude asset sales worth 2-3 billion Reais ($604-906 million) this year, in order to reduce its debt levels."You can expect in 2018 a de-leveraging of 2-3 billion [Reais], with respect to asset sales, and we are committed to this effort, along with additional efforts in operation performance," chief executive....Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) made adjusted earnings of 1.20 billion Reais ($363 million) in the fourth quarter of 2017, the company said late on Monday March 26.The quarter's figure for adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) compared with adjusted Ebitda of 1.25 billion Reais in the corresponding period of 201...Read More
Brazilian steel producer Companhia Sider??rgica Nacional (CSN) is planning an increase of 7.50% in its flat steel prices to distributors and industrial clients in June, Metal Bulletin has learnt."I expect our revenues to grow by 20% this year, considering volumes and prices," chief executive officer Benjamin Steinbruch said on Tuesday March 27.The increase is due to a better domestic market and hi...Read More