Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metalsAn uptick in trading activity for the CME's European aluminium premium contracts during July indicates that market participants are eyeing a possible uptrend in aluminium premiums in Europe for the remainder of this year and into 2019.Labor unrest has spread throughout South America...Read More
Copper and zinc stocks in the Shanghai-bonded zone went down amid opened arbitrage opportunities by the end of July, while nickel stocks edged up supported by stainless steel demand and a negative arbitrage kept aluminium stocks unchanged compared with last month.Assessed range for copper stocks down Copper stocks in Shanghai-bonded warehouses stood at 475,000-491,000 tonnes on August 1, compared...Read More
ArcelorMittal has decided to resume the expansion of its Vega do Sul flat-steel rolling facility, in Brazil's southern state of Santa Catarina, to increase production of coated steel and cold-rolled steel goods and supply the growing automotive market. The company said it will invest $330 million to build a 700,000-tonne per year continuous annealing line and a continuous galvanizing line combilin...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Raw MaterialsThe rise in intra-grade price differentials in the iron ore market have led to the need for more granular pricing references for the steelmaking raw material.Seaborne prices for hard coking coal received support this week, with Chinese buyers generating some buzz in the spot market.Vietnam...Read More
Brazil's domestic flat steel product prices increased this month, with local producers able to apply previously announced price increases.Metal Bulletin's monthly assessment of Brazilian domestic hot-rolled coil (HRC) prices reached 2,750-2,900 Reais ($732-772) per tonne ex-works on Friday August 3, up from 2,600-2,750 Reais per tonne ex-works the previous month. Domestic prices for ...Read More
Lossmaking Italian flat steel producer Ilva is at risk of being closed down because it will run out of funds in September this year unless the country's government speeds up its sale process, according to trade union Uilm.The company has been losing ?,?30 million ($35 million) per month and at the moment its funds only total around ?,?60 million, Uilm added."This means that, in mid-September, the...Read More
Demand remained weak in Turkey's domestic market, while export markets also slowed compared to last week due to the summer lull, sources told Metal Bulletin on Friday August 3.Domestic producers are now offering material from October production, and have made some sales. Domestic prices HRC producers in Turkey are offering material at $620-630 per tonne ex-works from October production, and deals...Read More
Polish steelmakers have achieved a transaction price rise for rebar due to strong demand in the domestic market, sources told Metal Bulletin on Friday August 3.Metal Bulletin's price assessment for domestic 12mm B500B-grade rebar in Poland was 2,330-2,360 zloty ($634-642) per tonne ex-works on Friday, up from 2,250-2,300 zloty per tonne ex-works a week ago.The assessment reflected the latest trans...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGIHot-rolled coilTurkey, domestic, hot-rolled coil, offered at $620-630 per tonne ex-works, October production.Turkey, domestic, hot-rolled coil, traded a...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Friday August 3, with the complex down by an average of 0.2%. Aluminium and nickel prices were unchanged to slightly higher, while lead prices led on the downside with a 0.6% fall and copper prices were off by 0.3% at $6,124 per tonne. This follows a mixed day on Thursday, when aluminium, ni...Read More
Key data from the pricing session ending August 3.China Ferro-chrome tenders from major Chinese stainless steel mills have slumped so far in August by more than 10% from a month earlier due to an increase in domestic production and falling raw material costs, while activity on the spot market has been limited. Prices of imported...Read More
China's domestic spot battery-grade lithium carbonate prices continued dropping this week with most producers offering lower prices to boost sales, while battery-grade lithium hydroxide prices were static despite pressure for lower prices.Lithium carbonate battery-grade spot prices continue downtrend due to lower offers and weak downstream demand.Lithium hydroxide battery-grade spot prices held un...Read More
The trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Metal Bulletin.Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back.Metal Bulletin pricesClick here for Metal Bulletin's price assessment for lithium carbonate min 99.5% Li2CO3 battery grade, spot price range, ex-works China, yuan per to...Read More
Equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for July Non-farm Payrolls was 193,000 versus an upwardly revised 248,000 in June. Actual was 157,000. Consensus for July Unemployment Rate was a slip to 3.9% from 4.0% in June. Actual was a slip...Read More
Prices for containerized shredded scrap imported into India edged up this week on deals done at higher levels, although market sentiment remained negative, sources told Metal Bulletin on Friday August 3.Metal Bulletin's weekly index for containerized imports of shredded scrap into India ticked upward to $357.56 per tonne cfr Nhava Sheva on Friday, from $355.27 per tonne cfr Nhava Sheva last week.L...Read More
The pig iron market in the United States has softened this week on poor global scrap prices and expectations of a domestic scrap price reduction.Metal Bulletin's price assessment for US pig iron imports declined to $400-405 per tonne cfr on Friday August 3, from $410-415 per tonne cfr a week before.One deal for 30,000 tonnes of pig iron was heard at around $375 per tonne fob from southern Brazil,...Read More
Turkish steel producers ended the week on Friday August 3 having bought no new deep-sea cargoes since a deal on Wednesday for a cargo from Europe.Mills broke their silence in trading activity on Wednesday when a steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 12,500 tonnes of bonus and 2,500 tonnes of...Read More
Physical iron ore was traded at higher prices on Friday August 3 amid paper-market gains, after China's plan for production cuts in the coming winter was released.Metal Bulletin 62% Fe Iron Ore Index: $67.45 per tonne cfr Qingdao, up by $0.58 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.66 per tonne cfr Qingdao, up by $0.58 per tonne.Metal Bulletin 58% Fe Premium Index: $54.93 pe...Read More
Base metal stocks at Shanghai Futures Exchange-approved warehouses were a mixed bag on Friday August 3, with lead stocks the only to show an increaseDeliverable lead stocks increased 694 tonnes or 5.7% over the week to reach 12,841 tonnes as of Friday August 3.This week, warehousing company Zhejiang Tianchuan had the most lead entering its sheds at 2,825 tonnes, a jump of 963 tonnes from last week...Read More
Seaborne prices for hard coking coal received support this week, with Chinese buyers generating some buzz in the spot market. Two cargoes of top-tier hard coking coal were traded at $164-167 per tonne cfr China, market sources told Metal Bulletin on Friday August 3. A third cargo was heard to have changed hands around $169 per tonne cfr China, though the...Read More