Buyers in the export markets for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States expect further price declines, sources told Metal Bulletin this week."The mills are becoming more flexible in price discussions, but they don't declare [their] prices. Everything is discussed against bids," a trader told Metal Bulletin on Monday April 23.Metal Bulletin's we...Read More
China's ferrous futures soared across the board on Monday April 23, after major mill Shagang increased its steel prices over the weekend.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,550 yuan ($55) per tonne, up 70 yuan per tonne October hot-rolled coil: 3,684 yuan per tonne, up 62 yuan per tonne Dalian Commodity Exchange September iron ore: 480.50 yuan per to...Read More
The trade safeguard measures that are being investigated by the EU are intended to maintain established import flows, not to close the European market to imports, regional steel association Eurofer said on Monday April 23.The European Commission (EC) started a safeguard investigation into 26 steel products on March 26 with the aim of shielding the region's steel industries from the effects of a po...Read More
The Australian Anti-Dumping Commission (AADC) has started an accelerated review of anti-dumping measures imposed on rebar imported from Thailand.The review into the tariffs - which were originally imposed in November 2017 and apply to rebar in diameters up to 50mm, regardless of grade, alloy content or coating - follows a request from Tata Steel Thailand subsidiaries...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
The annual convention of the Institute of Scrap Recycling Industries (ISRI) made its biennial visit to the lights and glamour of Las Vegas, in the US state of Nevada, from Saturday April 14 until Thursday April 19.There were all the signs of a boom period for the steel industry at the event, with the exhibition hall of the city's Mandalay Bay Hotel packed with displays of the latest technology and...Read More
The Turkish deep-sea scrap market remained quiet on Monday April 23 because of a national holiday in the country.The Turkish market was closed while the country celebrated National Sovereignty Day and Children's Day.Due to the lack of fresh deep-sea transactions, the daily scrap indices...Read More
Prices for physical iron ore rose on Monday April 23 following gains in the paper market, though Chinese mills continued to take a cautious approach despite the gains.Metal Bulletin 62% Fe Iron Ore Index: $67.67 per tonne cfr Qingdao, up by $0.61 per tonneMetal Bulletin 58% Fe Premium Index: $55.98 per tonne cfr Qingdao, up by $0.30 per tonneMetal Bulletin 65% Fe Iron Ore Index: $85.60 per tonne c...Read More
CIS export billet prices showed another round of decreases in the week ended Monday April 23 with bookings reported at lower prices than in the preceding seven days, Metal Bulletin has heard.In addition, import scrap prices in Turkey continued to trend downward, putting further pressure on CIS suppliers.Metal Bulletin's CIS billet export index was $510 per tonne fob Black Sea on April 23, against...Read More
China's domestic rebar prices remained in an upward trend on Monday April 23 amid rebounding futures. Domestic Eastern China (Shanghai): 3,860-3,900 yuan ($613-619) per tonne, up 70 yuan per tonne Northern China (Beijing): 3,730-3,770 yuan per tonne, up 30 yuan per tonne A strong rebound in the futures market led to active buying in the spot market, which pushed up prices. A major producer also ra...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. First quarter reports continue to pour in. Companies that reported this morning included Alaska Airlines, Kimberly Clark, Halliburton and Hasbro. Kimberly Clark added $0.72 to $100.75 after reporting higher than consensus first quarter earnings. The company also raised its guidance.Hasbro...Read More
SHANGHAI, Apr 23 (SMM) – Nonferrous metals saw mixed trading on Monday April 23. SHFE lead rose over 1% and copper gained close to 1%. Zinc and aluminium edged up slightly. Nickel and tin dipped.The ferrous complex performed strongly across the board. Coke led with a gain of 3.87%, hot-rolled coil, coking coal and iron ore climbed over 2%. Rebar rose close to 2%.Copper: As investors added th...Read More
SHANGHAI, Apr 23 (SMM) – Nonferrous metals saw mixed trading on Monday April 23. SHFE lead rose over 1% and copper gained close to 1%. Zinc and aluminium edged up slightly. Nickel and tin dipped.The ferrous complex performed strongly across the board. Coke led with a gain of 3.87%, hot-rolled coil, coking coal and iron ore climbed over 2%. Rebar rose close to 2%.Copper: As investors added th...Read More
SHANGHAI, Apr 23 (SMM) – Nonferrous metals saw mixed trading on Monday April 23. SHFE lead rose over 1% and copper gained close to 1%. Zinc and aluminium edged up slightly. Nickel and tin dipped.The ferrous complex performed strongly across the board. Coke led with a gain of 3.87%, hot-rolled coil, coking coal and iron ore climbed over 2%. Rebar rose close to 2%.Copper: As investors added th...Read More
SHANGHAI, Apr 23 (SMM) – Zinc concentrate treatment charges (TCs) in China are likely to rise in the near term as supply shortage eases and as smelters are on the verge of making losses, SMM believes.This comes despite the recovery in zinc futures prices last week as bearish sentiment ,from talk of the State Reserve Bureau’s destocking, eased.Smelters’ profits have inch...Read More
SHANGHAI, Apr 23 (SMM) – China's imports of copper scrap in March shrank 38.5% on the year, according to data from China Customs. This brought the overall copper scrap imports for the first quarter of the year down almost 40%.With the Chinese New Year holiday in February, copper scrap imports for March grew 69.5% month on month.Imports of metal scrap in Marc...Read More
UG2 chrome ore, and Chinese and Japanese ferro-chrome markets were bearish last week on anticipation of China's stainless steel mills lowering their ferro-chrome tender prices for May. Scarce activity due to sellers holding back from soft UG2 chrome ore Charge chrome quiet before tenders revealed Trades show fall in ferro-chrome into South Korea European ferro-chrome prices stab...Read More
SHANGHAI, Apr 23 (SMM) –Copper: LME copper stood above all the moving averages but pressure remained at the $7,000/mt level. The SHFE 1806 contract regained losses in the previous day and stayed above the 40-day moving average. We expect LME copper to trade at $6,950-7,000/mt today and the SHFE 1806 contract to trade at 51,300-51,800 yuan/mt. Spot premiums are seen narrower at...Read More
Chinese domestic ferro-silicon prices dropped on Friday April 20, renewing a downward trend seen earlier in April and prompting a switch in production to lower grade alloy. China cuts standard grade production Europe awaits Q2 settlements to provide spot direction US eases, near-term outlook stable Metal Bulletin's Chinese domestic ferro-silicon prices fell last week, dragged dow...Read More
SHANGHAI, Apr 23 (SMM) –Copper: LME copper stood above all the moving averages but pressure remained at the $7,000/mt level. The SHFE 1806 contract regained losses in the previous day and stayed above the 40-day moving average. We expect LME copper to trade at $6,950-7,000/mt today and the SHFE 1806 contract to trade at 51,300-51,800 yuan/mt. Spot premiums are seen narrower at...Read More