Comex copper prices rebounded on Tuesday September 18 morning in the US, even after president Donald Trump applied more tariffs on Chinese goods, further raising tensions between the two nations.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange jumped 5.50 cents or 2.1% to $2.7060 per lb. US president Donald Trump's administration announced overni...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Tuesday September 18. This despite US President Donald Trump imposing 10% tariffs on a further $200 billion of Chinese exports - the market no doubt relieved it was not 25%.The exception to the stronger showing by the LME base metals was lead, which was down by 0.7%. The rest of the complex saw...Read More
Most flat steel import prices in the United Arab Emirates and Saudi Arabia have been stable over the past week, although demand increased slightly in the UAE, sources told Metal Bulletin on Tuesday September 18.Some small deals were heard in the southern Gulf state, but buyers preferred to avoid booking big quantities.Market participants were expecting prices to fall because demand has been weak f...Read More
China's domestic hot-rolled coil market remained relatively stable on Tuesday September 18 while traders who export the product are seeing a further drop in demand, and along with that, lower prices.DomesticEastern China (Shanghai): 4,320-4,330 yuan ($629-631) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 4,230-4,250 yuan per tonne, unchangedDomestic prices were large...Read More
Major Vietnamese steelmaker Hoa Phat Group is preparing to break into the big leagues among international steel companies via the set-up of four greenfield blast furnaces at its Hoa Phat Dung Quat steel complex in 2019.It plans to start the first blast furnace at the complex by December this year for trials before gradually increasing run rates, a source with knowledge of the company said. It will...Read More
Mexican long steel producer Deacero started up a 500,000-tonne-per-year rolling mill in its unit in Ramos Arizpe city earlier this month. The rolling mill is able to produce bars and light sections, and it was launched on Friday September...Read More
Russia's Industrial Metallurgical Holding (IMH) company began producing steel rebar at its new Tula-Steel subsidiary facility last week.Despite worries in the market, the steelmaking asset's start-up has had no impact on the pig iron shipments from Tulachermet, Russia's largest merchant pig iron producer, run by IMH. "Last week we started shipments of rebar to the domestic market [in Russia]," a s...Read More
Russia's Industrial Metallurgical Holding (IMH) company began producing steel rebar at its new Tula-Steel subsidiary facility last week.Despite worries in the market, the steelmaking asset's start-up has had no impact on the pig iron shipments from Tulachermet, Russia's largest merchant pig iron producer, run by IMH. "Last week we started shipments of rebar to the domestic market [in Russia]," a s...Read More
The first deep-sea scrap booking of the week, made by a Turkish steel mill on Monday night, boosted prices after coming to light on Tuesday September 18.A steel mill in the Iskenderun region booked a European cargo, consisting of 26,000 tonnes of HMS 1 & 2 (80:20) at $317 per tonne and 4,000 tonnes of...Read More
Physical iron ore was trading at higher prices on Tuesday September 18, following on from a much stronger performance in the paper market. Metal Bulletin 62% Fe Iron Ore Index: $69.82 per tonne cfr Qingdao, up by $1.68 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.85 per tonne cfr Qingdao, up by $1.68 per tonne.Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $75.40 per tonne cfr...Read More
CIS export billet prices picked up early this week when the volumes of available material became limited, Metal Bulletin heardon Tuesday September 18.This was partially driven by the reduced production volumes at some mills because of maintenance work, and partly by the renewal of sales activity in the first half of September - to the Asian market, in particular."The amount of material in the mark...Read More
China's domestic rebar prices held steady on Tuesday September 18 amid increased trading activity.Domestic Eastern China (Shanghai): 4,550-4,590 yuan ($663-668) per tonne, unchangedNorthern China (Beijing): 4,400-4,430 yuan per tonne, unchangedGains in the futures market led buyers to raise their procurement rates during the day. Instead of raising their prices, sellers kept their prices flat this...Read More
Major Vietnamese steelmaker Hoa Phat Group is preparing to break into the big leagues among international steel companies via the set-up of four greenfield blast furnaces at its Hoa Phat Dung Quat steel complex in 2019.It plans to start the first blast furnace at the complex by December this year for trials before gradually increasing run rates, a source with knowledge of the company said. It will...Read More
European domestic stainless steel prices are likely to stabilize as the EU safeguard quota for stainless steel imports is taken up, according to Roeland Baan, ceo of Finnish stainless steelmaker Outokumpu. Speaking at the Metal Bulletin and Steel & Metals Market Research (SMR) stainless steel conference in Helsinki, Finland on Tuesday September 18, Baan was referring to the quotas introduced...Read More
European ferro-vanadium and vanadium pentoxide (V2O5) prices climbed higher in the week ended Friday September 14 to reach more than 13-year highs amid supply concerns, while Chinese exporters held back offers to compensate for limited stocks.Chinese export prices underpinned by strong domestic marketEuropean FeV prices rise 5.5% week on week on supply concernsEuropean V2O5 prices edge up despite...Read More
Brazilian flat steel producers have announced another price increase to be imposed on distributors and industrial clients in October, and are also negotiating price rises for annual contracts with carmakers, according to national flat steel association Inda.A rise of around 5% in the prices of flat steel products sold to distributors and industrial clients has been announced by most producers, Ind...Read More
Physical iron ore was trading at higher prices on Tuesday September 18, following on from a much stronger performance in the paper market. Metal Bulletin 62% Fe Iron Ore Index: $69.82 per tonne cfr Qingdao, up by $1.68 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.85 per tonne cfr Qingdao, up by $1.68 per tonne.Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $75.40 per tonne cfr...Read More
European domestic stainless steel prices are likely to stabilize as the EU safeguard quota for stainless steel imports is taken up, according to Roeland Baan, ceo of Finnish stainless steelmaker Outokumpu. Speaking at the Metal Bulletin and Steel & Metals Market Research (SMR) stainless steel conference in Helsinki, Finland on Tuesday September 18, Baan was referring to the quotas introduced...Read More
Major Vietnamese steelmaker Hoa Phat Group is preparing to break into the big leagues among international steel companies via the set-up of four greenfield blast furnaces at its Hoa Phat Dung Quat steel complex in 2019.It plans to start the first blast furnace at the complex by December this year for trials before gradually increasing run rates, a source with knowledge of the company said. It will...Read More
The copper premium was more than $100 per tonne for the first time in three years during the week ended Tuesday September 18, with the price in the Shanghai market continuing to rise because the import arbitrage was wide open.Premiums became firmer across Asia, while the European and US markets were preparing to receive long-term contract offers from major producers. The copper premium was well ab...Read More