Prices for domestic coated and cold-rolled coil in the United States have inched downward on lower offers, according to market participants.American Metal Market's weekly price assessment for cold-rolled coil dipped to $48.50 per hundredweight ($970 per short ton) on Thursday September 13 from $49 per cwt ($980 per ton) a week earlier. Galvanized base prices likewise slipped by 50 cents to&nb...Read More
Tata Steel UK has begun a project to extend the operational life of its blast furnace (BF) No5 at its Port Talbot facility in Wales, the Indian-owned steelmaker said on Friday September 14.An investment of "tens of millions of pounds [sterling]" in the project was confirmed when Tata Steel signed a much-anticipated definitive agreement to create a 50:50 European flat steel joint-venture with Germa...Read More
UK long product steelmaker British Steel has proposed the elimination of 400 jobs as part of "a streamlining process to ensure the long-term growth of the business," the company said on Friday September 14.The proposed reduction would affect 400 managerial, professional and administrative roles at its operations throughout the UK, Ireland, France and The Netherlands.The majority of the roles to be...Read More
Domestic prices for rebar in Poland have moved up this week with support from good demand, sources told Metal Bulletin on Friday September 14.Metal Bulletin's price assessment for domestic 12mm B500B-grade rebar in Poland was stable over the week at 2,360-2,390 ($638-646) zloty per tonne ex-works on Friday. This compared with 2,350-2,370 zloty per tonne ex-works a week earlier.The assessment refle...Read More
Key data from the pricing session in the week ending Friday September 14.China Prices for UG2 chrome ore cif China ticked up, with all data points within the range of $155-160, although trading activity was low because most market participants were at...Read More
Prices for austenitic alloy steel scrap in the UK and Europe continued to soften this week with market participants adjusting to the new nickel price after heavy losses last week, market participants told Metal Bulletin on Friday September 14.Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe widened downward by ?,?20 per tonne to ?,?1,050-1,100...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday September 14:The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday September 14:Noble alloysMolybdenum, US canned molybdic oxide, $ per lb: $12.20-12.30 per Ib from $12.00-12.20Ferro-molybdenum, basis 65% min, in-warehouse Rotterdam, $ per kg Mo: $29.50-29.70 per kg from $29....Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Index futures were virtually unchanged following release of August Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.5% versus an upwardly revised gain of 0.8% in July. Actual was an increase of 0.1%. Excluding auto sales, consensus was an increase of 0.5% versus a gain of 0.6%...Read More
China's domestic spot battery-grade lithium carbonate prices remained under downward pressure this week due to availability of stock and cheaper low-production cost materials produced from brine, while lithium hydroxide prices were hit by sluggish trading. Lithium carbonate prices soften due to availability of stock alongside cheaper low-production cost materials produced from brine. Lithium...Read More
A scarcity of 37% manganese ore being offered for October delivery, combined with an increase in lower grade offers, has the potential to drive the market higher, market sources told Metal Bulletin. Metal Bulletin's 37% manganese ore index, cif Tianjin rose six cents to $6.52 per dry metric tonne unit (dmtu) on Friday September 7 after market sources started to report tighter 37% availability...Read More
The pig iron import market in the United States softened further in the week ended Friday September 14 on weak scrap prices. No deals were heard, because the future price direction was not clear, Metal Bulletin was told.Metal Bulletin's price assessment for US imports of pig iron decreased to $385-390 per tonne cfr on September 14, from $390-395 per tonne cfr a week earlier.The workable price in t...Read More
German steelmakers have settled their monthly scrap contracts for September with an average drop in prices of about ?,?5-10 ($6-12) per tonne, sources told Metal Bulletin on Friday September 14.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany was ?,?270-285 ($315-332) per tonne delivered in September, compared with ?,?280-290 per tonne delivered in August."[The dome...Read More
Turkish steel producers completed the week by booking another deep-sea scrap cargo deal on Friday September 14, although the prices nudged down by less than $2 per tonne.Steel mills in Turkey have booked six deep-sea cargoes this week, totaling more than 170,000 tonnes.A steel producer in the Izmir region booked a European cargo on Friday, comprising 25,000 tonnes of HMS 1&2 (80:20) and 5,000 tonn...Read More
The Brazilian export pig iron market has softened further this week, with buyers insisting on lower prices, Metal Bulletin heard on Friday September 14.Metal Bulletin's weekly price assessment for pig iron exports from the south-eastern Minas Gerais region fell to $355-360 per tonne fob on September 14 from $360 per tonne a week before."No serious negotiations were heard this week, because bids fr...Read More
Prices for ferrous scrap imported into India have edged upward by $2 per tonne over the past seven days, with deals being completed earlier in the week before the market slowed down due to currency issues, sources told Metal Bulletin on Friday September 14.Metal Bulletin's weekly index for containerized imports of shredded scrap into India increased to $356.52 cfr Nhava Sheva on September 14, marg...Read More
Iron ore prices were rangebound on Friday September 14 with buyers continuing to show interest in Pilbara Blend fines.Metal Bulletin 62% Fe Iron Ore Index: $67.68 per tonne cfr Qingdao, down by $0.58 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.71 per tonne cfr Qingdao, down by $0.58 per tonne.Metal Bulletin 62% Fe Iron Ore Index, Low Alumina: $74.18 per tonne cfr Qingdao, up by...Read More
Seaborne coking coal prices ended this week higher amid robust buying activity among traders and concerns over supply.Trades involving cargoes of premium low-vol hard coking coal were concluded at around $205 and $207 per tonne fob Australia on Friday September 14, market sources told Metal Bulletin.Another cargo of premium product had changed hands at $205 per tonne fob Australia a day earlier, s...Read More
China's domestic hot-rolled coil prices were flat on Friday September 14 amid an inactive market due to subdued demand. DomesticEastern China (Shanghai): 4,320-4,340 yuan ($631-634) per tonne, unchangedNorthern China (Tianjin): 4,230-4,240 yuan per tonne, unchangedWinter steelmaking restrictions in north China could possibly be lighter this year compared with last year. Word is circulating in the...Read More
Base metals prices on the London Metal Exchange edged lower during morning trading on Friday September 14, consolidating lower amid continued trade disagreements between the United States and China, while fresh economic data indicates more stability in the Chinese economy. Falling back below $6,000 per tonne over the morning trading session, the three-month copper price depreciated the most across...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More