A global dialogue intended to resolve the issue of overcapacity in China's aluminium production would be better for creating a fair global market than the imposition of tariffs, a panel of industry experts has said.Speaking at Metal Bulletin's 33rd International Aluminium conference in Berlin this week, panelists noted that the Section 232 tariffs - imposed in June by the United States on aluminiu...Read More
Trade war-related currency fluctuations have led to an unexpected spike in Asia copper premiums after a fall in the yuan opened import arbitrage opportunities in the region. Premiums for Grade A cathodes basis cif Shanghai have leapt in the past week to their highest levels since February 2016, with material trading at up to $100 per tonne over LME cash prices. The daily premium reached $83-1...Read More
Metal Bulletin, a leading source of trusted and transparent commodities data for the metals and mining markets, has successfully completed an external assurance review of some of its benchmark prices carried out by independent professional services company PricewaterhouseCoopers (PwC).PwC reviewed benchmark assessment and index prices published by Metal Bulletin that fell within the scope of finan...Read More
Metal Bulletin, a leading source of trusted and transparent commodities data for the metals and mining markets, has successfully completed an external assurance review of some of its benchmark prices carried out by independent professional services company PricewaterhouseCoopers (PwC).PwC reviewed benchmark assessment and index prices published by Metal Bulletin that fell within the scope of finan...Read More
UK ferrous scrap prices for deliveries in September have fallen after a run of losses on a spot basis in the past few weeks, trade sources told Metal Bulletin on Thursday September 13.But a bounce in European export prices to destinations such as Turkey and the Indian subcontinent have reduced the expected losses, they added.Major steelmakers such as Celsa and Liberty have generally cut ?10 ($13)...Read More
Turkish steel producers paused their deep-sea scrap purchases on Thursday September 13 to see where the exchange rate value of the country's lira will settle, following a decision by its central bank to raise interest rates.Steel mills in Turkey have booked five deep-sea cargoes so far this week, totaling more than 140,000 tonnes.Market participants said that the mills would continue to book deep-...Read More
Following a strong close in the previous session, the three-month base metals prices on the London Metal Exchange were mostly consolidating their recent gains during early trading on Thursday September 13.Copper and lead were largely unchanged, while the rest of the complex has consolidated lower; aluminium (-0.5%) led the decline, closely followed by zinc (-0.4%), while nickel and tin were both d...Read More
Metal Bulletin, a leading source of trusted and transparent commodities data for the metals and mining markets, has successfully completed an external assurance review of some of its benchmark prices carried out by independent professional services company PricewaterhouseCoopers (PwC).PwC reviewed benchmark assessment and index prices published by Metal Bulletin that fell within the scope of finan...Read More
China's auto sales declined for a second month in August on weak consumer demand for hot- and cold-rolled coil compared with past years, and most steel market participants expected this scenario to continue. The country sold 2.10 million units of vehicles in August, down 3.8% from a year ago, despite an 11.3% monthly rebound, the China Association of Automobile Manufacturers (CAAM) said on Tuesday...Read More
China's hot-rolled coil prices rebounded on Thursday September 13 following a slight drop in inventory over the past week.DomesticEastern China (Shanghai): 4,320-4,340 yuan ($629-632) per tonne, up 20 yuan per tonneNorthern China (Tianjin): 4,230-4,240 yuan per tonne, up 20-30 yuan per tonneThe domestic market snapped two days of losses after news spread that HRC inventory levels nationwide had fa...Read More
Turkish domestic long steel prices have gone down over the past seven days with the exchange rate value of the country's lira strengthening against the US dollar, sources said on Thursday September 13.Metal Bulletin's weekly price assessment on Thursday for domestic rebar was TRY3,800-3,950 ($596-619) per tonne ex-works, including 18% VAT. This was down from last week's TRY3,950-4,070 per tonne.Th...Read More
Turkish rebar and wire rod export prices have recovered slightly in line with the uptick in imported scrap values, sources said on Thursday September 13.The country's steel producers were mostly offering rebar for export at around $520-530 per tonne fob on an actual weight basis.But demand for Turkish material was still sluggish and bids from customers were around $510-515 per tonne fob, actual we...Read More
Steel billet import prices in Egypt narrowed in the week ended Thursday September 13, with the market remaining silent, while domestic rebar prices were stable. Metal Bulletin's weekly price assessment for steel billet imported into Egypt was $495-500 per tonne cfr on Thursday, narrowing from $495-503 per tonne cfr when it was last assessed on September 6.CIS-origin billet was offered...Read More
UK ferrous scrap prices for deliveries in September have fallen after a run of losses on a spot basis in the past few weeks, trade sources told Metal Bulletin on Thursday September 13.But a bounce in European export prices to destinations such as Turkey and the Indian subcontinent have reduced the expected losses, they added.Major steelmakers such as Celsa and Liberty have generally cut ?10 ($13)...Read More
The export market for pig iron from the Commonwealth of Independent States has weakened on falling scrap prices in the major outlet regions.No deals were heard during the week ended Thursday September 13, with market insiders awaiting developments at the International Iron Metallics Association (IIMA) meeting in Stockholm on September 17-19.Metal Bulletin's export price assessment for high-mangane...Read More
Metal Bulletin, a leading source of trusted and transparent commodities data for the metals and mining markets, has successfully completed an external assurance review of some of its benchmark prices carried out by independent professional services company PricewaterhouseCoopers (PwC).PwC reviewed benchmark assessment and index prices published by Metal Bulletin that fell within the scope of finan...Read More
Billet prices in Turkey were slightly higher this week, with increasing scrap values and firm demand for Turkish billet in export markets, sources said on Thursday September 13.Turkish producers raised their offers to $490-500 per tonne fob levels from last week's $485-495 per tonne fob."Turkish mills sold around 300,000 tonnes of billet in the past two months, and this has supported the prices. M...Read More
Steel billet import prices in Egypt narrowed in the week ended Thursday September 13, with the market remaining silent, while domestic rebar prices were stable. Metal Bulletin's weekly price assessment for steel billet imported into Egypt was $495-500 per tonne cfr on Thursday, narrowing from $495-503 per tonne cfr when it was last assessed on September 6.CIS-origin billet was offered...Read More
Prices for Iran-origin billet in export markets narrowed downward slightly over the week ended Wednesday September 12, with several new bookings being heard.Metal Bulletin's price assessment for Iranian billet exports was $460-470 per tonne fob on September 12, down by $5 per tonne week-on-week.Sales totaling 50,000 tonnes were reported, mainly to customers in the...Read More
China's auto sales declined for a second month in August on weak consumer demand for hot- and cold-rolled coil compared with past years, and most steel market participants expected this scenario to continue. The country sold 2.10 million units of vehicles in August, down 3.8% from a year ago, despite an 11.3% monthly rebound, the China Association of Automobile Manufacturers (CAAM) said on Tuesday...Read More