Prices for rebar produced and delivered in Southern Europe have softened for the second consecutive week, with mills adjusting their offers to reduce interest in imported material, sources told Metal Bulletin on Wednesday September 12.Metal Bulletin's weekly price assessment for domestic rebar in Southern Europe narrowed downward to ?,?530-550 ($615-638) per tonne delivered on Wednesday, compared...Read More
European mesh-quality wire rod prices were stable in both the north and south of the region over the past week, with suppliers seeing no reason for a price decrease.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Southern Europe stayed at ?,?540-560 ($626-649) per tonne delivered on Wednesday September 12, while the price for similar material in Northern Europe remai...Read More
The Turkish steel mills continued their deep-sea scrap purchases for October deliveries on Wednesday September 12.A steel producer in the Iskenderun region booked a United States-origin cargo on Wednesday, comprising 15,000 tonnes of HMS 1&2 (90:10) and 10,000 tonnes of shredded at an average price of $324 per tonne cfr.The same mill also booked a Baltic Sea cargo, comprising 10,000 tonnes of bonu...Read More
Seaborne iron ore prices remained rangebound on Wednesday September 12, with only a few trades reported on an index-linked basis.Metal Bulletin 62% Fe Iron Ore Index: $67.86 per tonne cfr Qingdao, up by $0.19 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.89 per tonne cfr Qingdao, up by $0.19 per tonne.Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $74.17 per tonne cfr Qingdao,...Read More
Ferrous futures in China largely declined during morning trading on Wednesday September 12, with the exception of the iron ore contract, following speculation a day earlier - and subsequent denials - of the easing of production restrictions on steelmakers during winter.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,039 yuan ($588) per tonne, down 60 yuan per to...Read More
Optimism in the CIS export billet market faded after the drop in import scrap prices in Turkey. Buying activity in most outlets remained low, and most customers expected the uptick of recent days to be short-lived.Metal Bulletin's index for CIS export billet price was $478 per tonne fob on September 12, down $4...Read More
Prices for rebar and billet in the United Arab Emirates decreased during the week ending Tuesday September 11, while demand continued to be limited, sources told Metal Bulletin. Demand is unlikely to improve before October, market participants said. Domestic rebar The biggest steel producer in the UAE, Emirates Steel, was still offering rebar at 2,178 dirhams ($593) per tonne ex-works for Septembe...Read More
China's domestic rebar prices maintained a downward trend on Wednesday September 12 on participants' bearish sentiment. Domestic Eastern China (Shanghai): 4,450-4,480 yuan ($648-652) per tonne, down 80 yuan per tonneNorthern China (Beijing): 4,330-4,360 yuan per tonne, down 50 yuan per tonneLate Tuesday, the Ministry of Ecology & Environment (MEE) declared that no decision had been made about stee...Read More
The molybdenum oxide market in Europe has moved up on new deals reported midweek, with higher prices settled after stronger contracts were agreed in Asia last week, sources told Metal Bulletin on Wednesday September 12.Consumers have been slow to show buying interest for fourth-quarter smelting schedules, however, and so far have mostly adopted a wait-and-see approach to potential deals in Septemb...Read More
Key data from the Wednesday September 12 pricing session in Europe. Key drivers - Overall tightness in ferro-titanium propelled prices higher for the fourth consecutive week, with the market set to possibly extend above $6 per kg. Big tonnages currently being negotiated between suppliers and consumers in the steel sector should provide a clearer outlook for spot price direction in the next two or...Read More
Prices for domestic hollow steel sections remained unchanged this week, but could soon increase alongside feedstock rises, market sources told Metal Bulletin on Wednesday September 12.Metal Bulletin's domestic price assessment range for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at ?,?650-670 ($754-777) per tonne delivered on September 12, flat with the prev...Read More
Turkish pipe export prices have inched up so far this month despite weak demand, sources told Metal Bulletin on Wednesday September 12.The country's steel pipe mills were heard offering EN10219-standard, grade-S235 tubes at around $640-650 per tonne fob, but demand was limited in the EU because of safeguarding quotas imposed on the region's imports.Metal Bulletin's monthly...Read More
The molybdenum oxide market in Europe has moved up on new deals reported midweek, with higher prices settled after stronger contracts were agreed in Asia last week, sources told Metal Bulletin on Wednesday September 12.Consumers have been slow to show buying interest for fourth-quarter smelting schedules, however, and so far have mostly adopted a wait-and-see approach to potential deals in Septemb...Read More
Prices for rebar produced and delivered in Southern Europe have softened for the second consecutive week, with mills adjusting their offers to reduce interest in imported material, sources told Metal Bulletin on Wednesday September 12.Metal Bulletin's weekly price assessment for domestic rebar in Southern Europe narrowed downward to ?,?530-550 ($615-638) per tonne delivered on Wednesday, compared...Read More
European mesh-quality wire rod prices were stable in both the north and south of the region over the past week, with suppliers seeing no reason for a price decrease.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Southern Europe stayed at ?,?540-560 ($626-649) per tonne delivered on Wednesday September 12, while the price for similar material in Northern Europe remai...Read More
The London Metal Exchange has decided to continue discounting short-dated and medium-dated carry fees indefinitely, it said in a notice to members on Wednesday September 12. The LME has cut fees twice since 2016, ushering in a review process from April to June of this year, after acknowledging that high trading and clearing costs have contributed to its declining volumes.Designed to encourage the...Read More
The latest metal markets news and price moves to start the North American day on Wednesday September 12.London Metal Exchange base metals prices were mostly higher during morning trading, with the complex recouping losses made at Tuesday's close.Three-month zinc and lead prices climbed more than 2% this morning, supported by a slight downtick in the dollar index. Having fallen to its lowest p...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday September 12.Base metals prices on the Shanghai Futures Exchange were down across the board during Asian morning trading on Wednesday, with market participants taking stock of the build-up in trade tensions between the United States and China.Check Metal Bulletin's live futures repor...Read More
The London Metal Exchange has decided to continue discounting short-dated and medium-dated carry fees indefinitely, it said in a notice to members on Wednesday September 12. The LME has cut fees twice since 2016, ushering in a review process from April to June of this year, after acknowledging that high trading and clearing costs have contributed to its declining volumes.Designed to encourage the...Read More
The prices of base metals on the London Metal Exchange were broadly higher at the close of trading on Wednesday September 12, propped up by a sizeable downturn in the US dollar index amid proposals of another round of trade talks between the United States and China. Climbing 3% over the afternoon and recouping losses made at Tuesday's close, nickel's three-month price has pushed back over $12,600...Read More