Austenitic alloy steel scrap prices were largely stable this week in Europe and the UK, with nickel prices having more or less flattened out after losses in late August and early September.The price of 18/8 stainless steel solids in the UK was assessed unchanged at ?880-930 ($1,163-1,229) per tonne delivered at merchant. The price of similar product in Europe was assessed at ?,?1,060-1,100 ($1,24...Read More
Brazilian slab export prices remained stable in the week ended Friday September 21 with local slab producers awaiting the return of demand in the United States, which was halted by import quota issues.Metal Bulletin's weekly Brazil slab export price assessment was $500-530 per tonne fob on September 21, unchanged from the previous week.Brazilian slab producers have been selling material to Asia, E...Read More
Demand for CIS billet exports is only strong in Southeast Asia at the moment, sources told Metal Bulletin on Friday September 21.A deal for a lot of about 50,000 tonnes of October-November production Ukrainian billet was reported at $480 per tonne fob Black Sea to Southeast Asia. And taking into the account freight rate of about $45 per...Read More
China's domestic rebar prices continued moving lower on Friday September 21 following a decline in billet prices.Domestic Eastern China (Shanghai): 4,530-4,580 yuan ($661-668) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 4,330-4,380 yuan per tonne, down 20-50 yuan per tonneBillet prices dropped late on Thursday amid soft demand, and the rebar futures were weak in Friday morni...Read More
European stainless steel base prices were largely stable in the week ended Friday September 21, with market sources awaiting news of alloy surcharges for October.These had been widely expected to decrease on lower nickel prices, and this was confirmed on September 21 when Outokumpu announced that its surcharge for grade-304 cold-rolled sheets will decrease in October by ?,?80 per tonne, to ?,?1,44...Read More
Finnish stainless steelmaker Outokumpu has lowered its alloy surcharge for October deliveries of grade-304 cold-rolled (CR) stainless steel sheets by ?,?80 ($94) per tonne.Finnish stainless steelmaker Outokumpu has lowered its alloy surcharge for October deliveries of grade-304 cold-rolled (CR) stainless steel sheets by ?,?80 ($94) per tonne.The company's October surcharge for 2mm grade-304 CR sta...Read More
Swiss steelmakers have called for an exemption for Swiss-origin steel imports into the European Union from the EU's preliminary safeguard measures, citing the "interconnectedness of the steel and steel processing industries of Switzerland and the EU".To block materials redirected from the US after its imposition of Section 232 import tariffs on steel, the European Commission imposed preliminary sa...Read More
The Global Forum on Steel Excess Capacity has agreed to "further reduce steel production capacity wherever necessary [and] to eliminate subsidies which cause overcapacity," the European Commission (EC) said on Friday September 21.The forum, comprising the G20 group of developed nations and the Organisation for Economic Cooperation & Development (OECD), held its most recent meeting in Paris, France...Read More
Finnish stainless steelmaker Outokumpu has lowered its alloy surcharge for October deliveries of grade-304 cold-rolled (CR) stainless steel sheets by ?,?80 ($94) per tonne.Finnish stainless steelmaker Outokumpu has lowered its alloy surcharge for October deliveries of grade-304 cold-rolled (CR) stainless steel sheets by ?,?80 ($94) per tonne.The company's October surcharge for 2mm grade-304 CR sta...Read More
Swiss steelmakers have called for an exemption for Swiss-origin steel imports into the European Union from the EU's preliminary safeguard measures, citing the "interconnectedness of the steel and steel processing industries of Switzerland and the EU".To block materials redirected from the US after its imposition of Section 232 import tariffs on steel, the European Commission imposed preliminary sa...Read More
With ferro-vanadium trading at a 13-year high in Europe, Metal Bulletin looks back at some of the key events that have set the scene for prices to more than double so far in 2018.April 2015 Evraz Highveld Steel & Vanadium and its Mapochs Mine subsidiary enter business rescue proceedings, ultimately taking nearly 4,000 tonnes per year (tpy) of vanadium out of the market.November 2015 Ferro-van...Read More
South American flat steel import prices remained mostly unchanged this week amid bearish expectations about prices in China.Metal Bulletin's weekly assessment of South America hot-rolled coil (HRC) import prices was unchanged at $610-630 per tonne cfr on Friday September 21, while the price of plate was stable at $630-640 per tonne cfr.Prices of cold-rolled coil (CRC) were unchanged at $650-660 pe...Read More
The majority of global scrap prices moved upward on good demand and thin supply in the week ended Friday September 21.Turkish prices continued their upward movement, with several cargoes being booked this week, as did prices in India and Taiwan. On the US East Coast, prices remained stable but Vietnam suffered from logistical difficulties.Turkey importsThe first deep-sea scrap booking of the week,...Read More
The pig iron import market in the United States continues to move down on mixed expectations of the future trends in prices for scrap steel and hot-rolled coil (HRC).Metal Bulletin's price assessment for US imports of pig iron decreased to $380-385 per tonne cfr on Friday September 21, from $385-390 per tonne cfr a week earlier."I don't see any reason for the pig iron market to stabilize, because...Read More
The latest metal markets news and price moves to start the North American day on Friday September 21.Base metals prices on the London Metal Exchange were trading higher across the board on Friday morning trade, with copper leading the way.The three-month copper price hit a one-month high of $6,244 per tonne, rallying by more than 2% from Thursday's close."Exactly...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Friday September 21.Base metals prices on the Shanghai Futures Exchange were broadly up during Asian morning trading on Friday, with the complex supported by fresh buying amid a weaker dollar and easing trade tensions between the United States and China.Check Metal Bulletin's live futures repo...Read More
Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday September 21.Raw materials Rio Tinto is planning to launch an e-platform to allow its iron ore tender process to become more seamless for participants, Simon Farry, vice president sales and marketing iron ore has said. Prices for light iron scrap in the United Kingdom have been stable over the...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsThe 10 largest copper smelters in China set the fourth-quarter base price for treatment charges and refining charges (TC/RCs) at $90 per tonne/9 cents per lb on Friday September 21, sources with direct knowledge of the matter told Metal Bulletin.South Korea's state-run Public Procurem...Read More
The London Metal Exchange three-month copper price ended more than 4% higher on Friday 21 September, with the rest of the complex also rallying.Copper peaked at $6,364.50 per tonne, its highest since late in July, in active trading - more than 29,000 lots had changed hands by the 5pm London close. "The main macro catalysts include the renewed weakness in the dollar (despite the yield on the US Tre...Read More
Seaborne iron ore trading cooled further on Friday September 21, ahead of the Mid-Autumn Festival in China on Monday.Metal Bulletin 62% Fe Iron Ore Index: $69.13 per tonne cfr Qingdao, down by $0.05 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.16 per tonne cfr Qingdao, down by $0.05 per tonne.Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $75.07 per tonne cfr Qingdao, down by...Read More