Turkish domestic rebar prices have gone down slightly on US dollar basis due to weakening Turkish lira, sources said on Thursday June 14.Metal Bulletin's weekly price assessment for Turkish domestic rebar was $540-550 per tonne ex-works on June 14, narrowing down on the top-end of the range from $540-555 per tonne assessed on June 7...Read More
Imported steel billet prices in Egypt rose this week but domestic rebar prices were unchanged, sources told Metal Bulletin on Thursday June 14.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on June 14 was steady week-on-week at E ?12,525-12,528 ($700) per tonne ex-works.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 per tonne...Read More
Price negotiations for pig iron exports from the Commonwealth of Independent States have begun again after a silence lasting from late May, although no new bookings from the key outlets of the United States and Italy have yet been heard.The US pig iron market, the largest consumer of the raw material in the world, has improved because of the higher prices for scrap and finished steel products in t...Read More
Turkish scrap import prices have continued to increase on Thursday June 14, with the mills remaining active in the deep-sea scrap markets.A steel mill in the Iskenderun region booked a European cargo, comprising 18,000 tonnes of HMS 1&2 (75:25) at $343.50 per tonne and 12,000 tonnes of bonus at $364 per tonne cfr.Following...Read More
Additional pollution-trimming measures in China lent support to growing demand for iron ore lump and pellets on Thursday June 14.Metal Bulletin 62% Fe Iron Ore Index: $68.49 per tonne cfr Qingdao, up by $1.47 per tonneMetal Bulletin 58% Fe Premium Index: $54.19 per tonne cfr Qingdao, unchangedMetal Bulletin 65% Fe Iron Ore Index: $89 per tonne cfr Qingdao, up by $0.50 per tonneMetal Bulletin 62% F...Read More
Turkish billet prices have continued to increase over the past week, in line with the rising cost of steel scrap, sources said on Thursday June 14.Suppliers in the CIS region were trying to increase their offer prices following the uptick in deep-sea scrap import prices into Turkey.Steel mills in the CIS region were heard offering billet at around $530-535 per tonne...Read More
Imported steel billet prices in Egypt rose this week but domestic rebar prices were unchanged, sources told Metal Bulletin on Thursday June 14.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on June 14 was steady week-on-week at E ?12,525-12,528 ($700) per tonne ex-works.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 per tonne...Read More
China's domestic rebar prices kept their upward trend intact on Thursday June 14 as spot market stocks declined. Domestic Eastern China (Shanghai): 4,140-4,180 yuan ($646-653) per tonne, up 30-40 yuan per tonne Northern China (Beijing)): 3,950-3,980 yuan per tonne, up 20-30 yuan per tonne The inventory of rebar in major domestic Chinese markets continued to decline over the past week due...Read More
European spot prices for molybdic oxide have decreased so far this week on lower deals done in Europe and in Asia, with ferro-molybdenum tracking the move while there is relatively low buying interest, sources said.European ferro-molybdenum consumers in the steel sector appear satisfied with their long-term contracted intake of alloys at present, while South Korea was closed for a national holiday...Read More
Mexico's automotive production increased by 3.90% year on year in May 2018, according to figures released by the country's national automotive association Amia on Tuesday June 12.Vehicle output reached 352,860 units last month, compared with 339,747 units in May 2017.Sales in the country's domestic market declined 6.90% year on year in May to 114,492 units from 122,916 units.Mexico's vehicle...Read More
China's crude steel and finished steel output both rose year on year in May, helped by higher prices and improved producer margins.Steelmakers in China produced 81.13 million tonnes of crude steel last month, up 8.9% from a year ago, the country's National Bureau of Statistics (NBS) said on Thursday June 14. The country's finished steel output also...Read More
Price negotiations for pig iron exports from the Commonwealth of Independent States have begun again after a silence lasting from late May, although no new bookings from the key outlets of the United States and Italy have yet been heard.The US pig iron market, the largest consumer of the raw material in the world, has improved because of the higher prices for scrap and finished steel products in t...Read More
Nickel prices on the London Metal Exchange recorded the largest losses of the day at the close of trading on Thursday June 14, leading the complex lower amid sharp drops in lead, copper and zinc prices. Results from China's macro-economic data, including a lower than expected rise in fixed asset investment, and a weaker dollar index has put pressure on the base metals complex.China's fixed asset i...Read More
Germanium prices in Europe fell on Wednesday June 14 as a result of surplus material available in China and low demand from end users.Metal Bulletin assessed germanium metal at $1,560-1,660 per kg on an in-warehouse Rotterdam basis on Wednesday, down 5.3% from $1,650-1,750 per kg the previous week."A European trader offered us 50 kilograms of germanium at $1,575 per tonne, but we didn't buy, so I...Read More
A gap between the three-month prices of zinc and lead on the London Metal Exchange could generally narrow and become more settled in the coming weeks after an extended period of flux, market participants suggested.The prices of zinc and lead have historically tended to trade in tandem on the LME but they have diverged to a greater degree over the past couple of years - global supply discrepancies...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday June 14.Base metals prices on the Shanghai Futures Exchange were mostly up during Asian morning trading on Thursday, with nickel climbing more than 2% on strong buying interest, while lead was the sole metal in negative territory.The most-traded September nickel contract price on the...Read More
A gap between the three-month prices of zinc and lead on the London Metal Exchange could generally narrow and become more settled in the coming weeks after an extended period of flux, market participants suggested.The prices of zinc and lead have historically tended to trade in tandem on the LME but they have diverged to a greater degree over the past couple of years - global supply discrepancies...Read More
Nickel prices on the London Metal Exchange recorded the largest losses of the day at the close of trading on Thursday June 14, leading the complex lower amid sharp drops in lead, copper and zinc prices. Results from China's macro-economic data, including a lower than expected rise in fixed asset investment, and a weaker dollar index has put pressure on the base metals complex.China's fixed asset i...Read More
A gap between the three-month prices of zinc and lead on the London Metal Exchange could generally narrow and become more settled in the coming weeks after an extended period of flux, market participants suggested.The prices of zinc and lead have historically tended to trade in tandem on the LME but they have diverged to a greater degree over the past couple of years - global supply discrepancies...Read More
The seaborne coking coal market was quiet on Thursday June 14, as Chinese end users turned away from premium hard coking coal offers. A trader source said the market remained "cautiously optimistic", although there were ample cargoes in the hands of traders. "Seaborne prices remain much lower than domestic [values] and we may see prices maintain their current levels, but a significant rise would b...Read More