Some of the coated coil prices in Turkey decreased this week, with demand remaining poor in both the local and export markets, sources told Metal Bulletin on Friday May 25.Domestic prices One Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $745-760 per tonne ex-works this week, while a second producer offered similar product at $770-780 per tonne ex-works. A deal...Read More
Key data form the pricing session in the week ending Friday May 25. China China domestic ferro-chrome prices were stable week on week with thin deals in the spot market while market participants waited for the release of June tender prices to provide market direction. Some small ferro-chrome plants in...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday May 25:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.10-11.25 per lb from $11.00-11.30 Molybdenum US canned molybdic oxide, $/Ib $11.40-11.70 per Ib from $11.70-11.90 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $27.50-28.00 per kg from $27.60-28.00 Ferro-molybdenum US 65...Read More
Representatives from Chinese manganese alloy smelters held another meeting on Thursday May 24 to discuss manganese ore prices, according to market sources. It was the third such meeting since early March, when smelters agreed not to pay more than $8 per dry metric tonne unit (dmtu), on a cif basis, for low-grade manganese ore, sparking a protracted decline in prices. During the discussions on Thur...Read More
Daily PDFs will be downloadable until Monday May 28. After that, because of the UK's Spring bank holiday, the next daily PDF will be downloadable on Wednesday May 30.Read More
Prices for containerized shredded scrap imports into India were flat this week with buyers stepping back from the market as offer prices drop, market sources told Metal Bulletin on Friday May 25.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $382.90 per tonne cfr Nhava Sheva on May 25, little changed from $382.31 per tonne cfr Nhava Sheva on May 18. Market...Read More
Global direct-reduced iron (DRI) output increased 14.86% year on year in April 2018, according to new statistics published by the World Steel Association (Worldsteel) on Friday April 25.Total output was 7.11 million tonnes in April 2018 compared with 6.19 million tonnes a year previously, an increase of 920,000 tonnes. Production was...Read More
The UK inter-merchant price for austenitic alloy steel scrap was unchanged over the past week, with nickel costs remaining high, sources told Metal Bulletin on Friday May 25.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?1,000-1,040 ($1,338-1,391) per tonne delivered on Friday."There is more material available at the current higher price," one UK trad...Read More
Turkish steel producers continued to book deep-sea scrap for June on Friday May 25, and the mills managed to get lower prices from Baltic Sea and UK suppliers.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 16,000 tonnes of HMS 1&2 (80:20) at $338 per tonne cfr and 4,000 tonnes of bonus scrap at $348 per tonne.This compares with the previous Baltic Sea...Read More
Physical iron ore prices softened on Friday May 25 amid declining futures despite gains in the steel market.Metal Bulletin 62% Fe Iron Ore Index: $63.94 per tonne cfr Qingdao, down by $2.44 per tonneMetal Bulletin 58% Fe Premium Index: $52.72 per tonne cfr Qingdao, down by $0.33 per tonneMetal Bulletin 65% Fe Iron Ore Index: $83.40 per tonne cfr Qingdao, down by $0.60 per tonneMetal Bulletin 62% F...Read More
Sellers in the seaborne coking coal market are taking their time to liquidate their existing cargoes, keeping prices for the steelmaking raw material flat."We are not in a hurry because prices at [the Port of Jingtang in Hebei province's Tangshan] are still strong. If buyers are unwilling to pay $193-195 per tonne cfr China [in the seaborne market], we would rather make a 'landing sale,'" a...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday May 25*Copper -$94.62 (-605.72 yuan) Aluminium -$503.04 (-3,220.24 yuan) Zinc $10.94 (70.10 yuan) Nickel -$474.02 (-3,034.47 yuan) *Metal Bulletin calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices at 3pm Shanghai time, taking account of VAT and import duti...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Friday May 25, down between 0.2% and 0.6%, with copper down by 0.6% at $6,872 per tonne. Zinc was the single exception, up by a marginal 0.1%.Volume on the LME has been average, with 6,612 lots traded as of 7.34 am London time. This follows a general day of firmness on Thursday, when all the...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday May 25:Minor metals Antimony MB free market regulus, $/tonne: $8,200-8,500 per tonne from $8,100-8,400 Antimony MMTA standard grade II, $/tonne: $8,150-8,450 per tonne from $8,100-8,300 Bismuth MB free market, $/lb: $4.50-5.00 per lb from $4.70-5.10 Bismuth MB China domestic, yuan/tonne: 65,000-66,500...Read More
Metal Bulletin is proposing to refine its existing coverage of the tellurium market to provide a clearer distinction between the 99.9% and 99.99% grades.Metal Bulletin is proposing to refine its existing coverage of the tellurium market to provide a clearer distinction between the 99.9% and 99.99% grades.At present Metal Bulletin incorporates both 99.9% and 99.99% grades in its Rotterdam asse...Read More
An overview of China's minor metals markets in the week of May 21-25 and the reasons for any price moves.Read More
China's ferrous futures were subdued during morning trading on Thursday May 24, with only the hot-rolled coil contract ending the session just above negative territory after posting solid gains a day earlier.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,568 ($559) per tonne, down 22 per tonne October hot-rolled coil: 3,797 yuan per tonne, up 1 per tonne Dalian...Read More
China's domestic stainless steel prices widened over the past week with buyers picking up the pace of their procurement.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,800-15,300 yuan ($2,318-2,396) per tonne including VAT for the week ended Thursday May 24, compared with 14,900-15,200 yuan per tonne a week earlier. A...Read More
Producers of aluminium 226 diecasting ingot in Europe are feeling a margin squeeze after a 13% drop in secondary aluminium alloy prices this week while scrap prices stayed firm. Metal Bulletin's assessment of secondary aluminium 226 diecasting ingot prices fell for a third consecutive week to ?,?1,800-1,850 ($2,109-2,168) per tonne on Friday May 25, from ?,?1,830-1870 per tonne the week befor...Read More