Domestic beam prices have risen in the United States after early June price hikes from Nucor and Gerdau, while import prices remain flat on a lack of market activity following the implementation of Section 232 tariffs against steel imports from Canada, Mexico and the European Union.Prices for domestic W8-x8-inch beams are now $43.50 per hundredweight fob mill ($870 per ton), up 3.6% from...Read More
Export prices for CIS-origin billet remain under pressure from slow trading conditions in the country's key markets of Turkey and the wider Middle East, sources told Metal Bulletin, although bids are steady for now.Metal Bulletin's CIS billet export index was $519 per tonne fob Black Sea on Friday June 29 compared with $518 per tonne fob Black Sea on the...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday June 29:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $10.60-10.70 per lb from $10.80-10.90 Molybdenum US canned molybdic oxide, $/Ib $10.90-11.00 per Ib from $11.20-11.40 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $26.40-26.50 per kg from $26.60-26.90 Ferro-molybdenum US 6...Read More
China's domestic spot battery-grade lithium hydroxide prices fell further on Thursday June 28 on a negative short-term outlook due to sporadic buying and while carbonate prices were unchanged this week, they were still under pressure with downstream buyers starting to receive lower offers. Lithium hydroxide prices continue to fall on negative sentiment. Lithium carbonate prices still under d...Read More
Governments around the world are keen to prove their green credentials by announcing target dates for the end of sales of vehicles powered by internal combustion engine vehicles and their total replacement by electric ones.The actual demands of different governments vary. Norway, at the forefront of EV take-up, originally believed it could phase out its subsidies by 2015: now, the target has moved...Read More
The pig iron market in the United States has quieted again after several bookings were heard a week earlier.In the week ended Friday June 29 no new bookings were heard. Metal Bulletin's price for US pig iron imports was $410-415 per tonne cfr on Friday June 29, softening from $415-420 per tonne cfr a week ago after word came of bookings below offer levels....Read More
Pig iron exporters from the Commonwealth of Independent States (CIS) have resumed sales after market silence over four weeks, although activity was slow on moderate demand. "United States buyers purchased a lot last month, this is why they won't buy a lot in July," one supplier told Metal Bulletin. "Meanwhile, Italy is still not ready to pay the same as the US price," he added. Metal Bulletin's ex...Read More
Global prices moved down in the week ended Friday June 29, with Turkish scrap import prices falling following cargoes booked at lower prices, Indian prices dipping while demand falters and US scrap prices slipping. Taiwanese scrap prices remained flat but demand was also down.Turkey importsThe Turkish deep-sea scrap market began the week quiet following continued uncertainty after general election...Read More
Prices for containerized shredded scrap imports into India slipped this week following a halt in buying, market sources told Metal Bulletin on Friday June 29.Metal Bulletin's weekly index for containerized imports of shredded scrap into India slipped $0.61 per tonne to $381.38 cfr Nhava Sheva on June 29, from $381.99 per tonne cfr Nhava Sheva on June 22.There were no deals heard this week, but off...Read More
Turkish steel mills skipped Friday June 29, with no deep-sea scrap bookings leaving prices unchanged at the end of the week.Most mills have finished their bookings for July deliveries and are expected to resume scrap buying for August soon, sources said."Turkish mills ended their July bookings and probably...Read More
Russia will restrict scrap exports from its Far East region by banning shipments from main ports from late July to January 2019, according to an order from the government.From July 21, scrap exports will only be allowed through nine small ports in its Far East region. Shipments from Vladivostok, Nakhodka and Vanino, key ports for bulk cargo shipments from the region, will be forbidden. The order w...Read More
Join us tomorrow (Saturday) on Radio CKNW at 9:00 AM EDT Vancouver time (Noon Toronto Time) at https://globalnews.ca/radio/cknw/player/?gref=cknw&cmpid=subnav-radio#/ StockTwits Released Yesterday @EquityClockTech action by S&P stocks to 10:00: Bearish. Breakouts: $MKC $ACN. Breakdowns: $WBA $CAH $CI $MCK $VAR $FDX $KSU $TEL $TSS $EMN $URI $A $BLKMore S&P 500 stocks break intermed...Read More
The seaborne iron ore market remained rangebound on Friday June 29, with demand still concentrated on high-grade fines and lump. Metal Bulletin 62% Fe Iron Ore Index: $65.02 per tonne cfr Qingdao, up $0.58 per tonne Metal Bulletin 62% Fe Pilbara Blend fines: $63.95 per tonne cfr Qingdao, up $0.55 per tonneMetal Bulletin 58% Fe Premium Index: $51.50 per tonne cfr Qingdao, down $0.52 per tonne...Read More
The persistent widening backwardation on the July/August spread has pushed aluminium premiums in Rotterdam to their lowest this year, with bearish sentiment sweeping the market.The benchmark Rotterdam duty-unpaid P1020 aluminium in-warehouse premium has fallen to $85-95 per tonne on Friday June 29 from $90-100 per tonne assessed on June 19, which held for 10 assessments. This is over 40% lower tha...Read More
The seaborne coking coal market remained quiet on Friday June 29 on subdued demand and sustained bearish sentiment. "Despite the lack of trades, premium materials should still be assessed at around $195-200 per tonne fob Australia. It would be challenging to get a premium cargo below this range," an Indian trader said. "There are too many uncertainties at the moment. The looming China-US trade war...Read More
Deliverable aluminium stocks at Shanghai Futures Exchange-approved warehouses have fallen for the seventh week in a row with stocks now at a three-month low. Deliverable aluminium stocks at Shanghai Futures Exchange-approved warehouses have fallen for the seventh week in a row with stocks now at a three-month low. Aluminium stocks on Friday June 29 were at 936,194 tonnes compared with 941,637 tonn...Read More
China's domestic hot-rolled coil prices edged higher on Friday June 29 despite thin trading, while export prices fell as overseas buyers bet HRC prices in China will soften in the coming days, sources told Metal Bulletin.DomesticEastern China (Shanghai): 4,260-4,270 yuan ($643-645) per tonne, narrowing up 10 yuan per tonneNorthern China (Tianjin): 4,170-4,180 yuan per tonne, up 10 yuan per tonneDo...Read More
Tin prices on the London Metal Exchange continued to struggle during morning trading on Friday June 29, hindered by weak demand and a large delivery pushing total stocks up by more than 10%. Total LME tin inventories are now above 3,000 tonnes for the first time since April 2017, while its three-month price continues to trade below $20,000 per tonne, shedding more than 5% over June. "Tin has...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Friday June 29*Copper -$119.37 (-791.92 yuan) Aluminium -$523.46 (-3,472.70 yuan) Zinc -$8.74 (-58.01 yuan) Nickel -$354.40 (-2,351.15 yuan) *Metal Bulletin calculates the physical arbitrage for import into...Read More
China's domestic rebar prices were largely flat on Friday June 29 amid weak demand, despite futures moving higher. Domestic Eastern China (Shanghai): 3,990-4,030 yuan ($602-609) per tonne, up 10 yuan per tonne Northern China (Beijing): 3,870-3,910 yuan per tonne, unchanged Rebar futures rose further on Friday and billet prices also picked up on good demand. Prices in the spot market, however, were...Read More