Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe remained largely unchanged over the past week, sources said on Wednesday June 27.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Northern Europe widened downwards by ?,?5 per tonne on Wednesday at ?,?530-545 ($619-636) per tonne delivered, compared with ?,?535-5...Read More
Most European steelmakers have increased their hot-rolled coil prices by ?,?20 ($23) per tonne this week, sources told Metal Bulletin on Wednesday June 27.The rises are expected to be supported by the impact of the preliminary findings in a European Commission safeguarding case, along with a lack of competitive import offers, according to market sources.The EC opened an in...Read More
The latest metal markets news and price moves for the start of the North American day on Wednesday June 27. Base metals on the London Metal Exchange continued to drift lower during morning trading, with ongoing trade uncertainties, a firm dollar and broad inventory drawdowns putting pressure on the complex. Here's how LME prices looked at 12:34pm in London. Hassan Butt had the latest on exchange p...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday June 27.Base metals prices on the Shanghai Futures Exchange remained under pressure from simmering global trade tensions as well as a firm dollar during Asian morning trading on Wednesday, but the complex has benefited from a slight improvement in risk sentiment overnight with most p...Read More
Base metals on the London Metal Exchange ended mostly higher at the close of trading on Wednesday June 27, with nickel and zinc prices making a slight recovery from recent lulls while copper and tin prices continue to drift. Falling 0.3% over the afternoon, copper's three-month price closed at a three-month low, ending below $6,700 per tonne for the first time since March 28. The red metal ha...Read More
Comex copper prices were once again facing a bout of selling with a stronger dollar and the persistent threat of additional tariffs weighing on the red metal. Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 1.50 cents or 0.5% to $2.9770 per lb. The With trade tensions mounting, commodities continue to face pressure from macroeconomic instability, ty...Read More
Iron ore prices remained largely rangebound on Wednesday June 27, though those for high-grade fines and lumps continued to strengthen.Metal Bulletin 62% Fe Iron Ore Index: $64.60 per tonne cfr Qingdao, down $2.02 per tonneMetal Bulletin 58% Fe Premium Index: $52.49 per tonne cfr Qingdao, down $0.28 per tonneMetal Bulletin 65% Fe Iron Ore Index: $90.60 per tonne cfr Qingdao, up $0.20 per tonneMetal...Read More
Base metals on the London Metal Exchange ended mostly higher at the close of trading on Wednesday June 27, with nickel and zinc prices making a slight recovery from recent lulls while copper and tin prices continue to drift. Falling 0.3% over the afternoon, copper's three-month price closed at a three-month low, ending below $6,700 per tonne for the first time since March 28. The red metal ha...Read More
Prices for domestic hollow steel sections narrowed in Northern Europe this week as mills prepared to push up prices, sources told Metal Bulletin on Wednesday June 27.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe narrowed by ?,?5 per tonne to ?,?640-650 ($747-759) per tonne delivered on Wednesday June 27, from ?,?6...Read More
Steel and aluminium purchasers in the United States who feel cheated by the Section 232 tariffs should take the matter up with President Donald Trump, who likely would be sympathetic, according to a trade attorney who represents domestic producers.Alan Price, a partner at Washington law firm Wiley Rein LLP, urged downstream buyers to ask the president to erect import barriers for their products to...Read More
A lingering LME backwardation added further downward pressure to Shanghai and Taiwan zinc premiums in the latest pricing session on Tuesday June 26. Backwardation in LME zinc's cash/three-month spread widened to $47.25 per tonne on Wednesday. US rates were unchanged, but the logistics and freight market were characterized as nightmarish. Lead demand remains strong in Asia, particularl...Read More
Comex copper prices were once again facing a bout of selling with a stronger dollar and the persistent threat of additional tariffs weighing on the red metal. Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 1.50 cents or 0.5% to $2.9770 per lb. The With trade tensions mounting, commodities continue to face pressure from macroeconomic instability, ty...Read More
The latest metal markets news and price moves for the start of the North American day on Wednesday June 27. Base metals on the London Metal Exchange continued to drift lower during morning trading, with ongoing trade uncertainties, a firm dollar and broad inventory drawdowns putting pressure on the complex. Here's how LME prices looked at 12:34pm in London. Hassan Butt had the latest on exchange p...Read More
China's crude stainless steel capacity is expected to increase by 7.5 million tonnes per year to 44-45 million tpy by 2020, although there is some pessimism about mills' utilization rates, according to Zhang Zhifang, chairman of Chinese producer Taiyuan Iron & Steel. Production capacity of cold-rolled stainless steel in particular will increase in the short term, Zhang pointed out during his prese...Read More
Nickel premiums were on divergent paths across the globe in the week ended Tuesday June 26, with the summer lull pushing European premiums lower but a narrowing import arbitrage providing support for premiums in Shanghai. European premiums drift lower as summer slowdown hits Narrowing arbitrage pushes Shanghai premiums up US nickel premiums remain firm Start of summer liquidation pushes...Read More
Customers from the Middle East region continued to show interest in Iranian billet despite the high likelihood of United States sanctions, with several cargoes booked over the past week.The Gulf Co-operation Council (GCC) countries, North Africa and Southeast Asia are the main export markets for Iranian billet.While the US announced its intention to withdraw from the international deal on Ira...Read More
Prices for rebar produced and delivered in Northern Europe remained stable over the past week with mills looking to raise offers for July, sources told Metal Bulletin on Wednesday June 27. Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe held at ?,?535-545 ($624-636) per tonne delivered on Wednesday. "End user demand is stable right now, after the reduction of st...Read More
The following Metal Bulletin minor metals prices changed on Wednesday June 27:Antimony MMTA standard grade II, $/tonne: $7,900-8,150 per tonne from $8,000-8,250 Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 50,800-51,500 yuan per tonne from 51,500-52,000 yuan Cobalt MB free market high...Read More
Key data from the Wednesday June 27 pricing session in Europe. Key drivers - Steady demand for ferro-titanium in the past week has seen a fairly wide range in reported trade prices, with the midpoint around $5.10 per kg ddp. - The market may ease in the seasonal slowdown months of...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday June 27:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $10.80-10.90 per lb from $10.95-11.05 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg...Read More