China's domestic hot-rolled coil prices were largely stable on Wednesday June 20 with buyers coming to terms with their concerns over the brewing trade war between the world's two biggest economies.DomesticEastern China (Shanghai): 4,260-4,290 yuan ($658-663) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 4,200-4,230 yuan per tonne, unchangedConcerns over the trade spat between China a...Read More
Brazilian flat steel producers have delayed part of a planned price increase in domestic prices, due to strong local competition and transportation problems in May, according to national flat steel association Inda. "Bookings made in May, at old prices, have been delayed due to transportation problems," Inda president Carlos Loureiro said on Tuesday June 19. Because of this, steelmakers made...Read More
Prices for rebar produced and delivered in southern Europe have narrowed downward by ?,?10 per tonne over the past week, sources told Metal Bulletin on Wednesday June 20.Metal Bulletin's weekly price assessment for domestic rebar in southern Europe was ?,?475-490 ($550-568) per tonne delivered on Wednesday, down from ?,?475-500 per tonne one week earlier. The assessment includes offers and de...Read More
Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe are unchanged over the past week, sources said on Wednesday June 20.The Southern European domestic price for mesh-quality wire rod held at ?,?520-535 ($602-620) per tonne delivered on June 20 from a week earlier."Mills are looking to push prices up but this hasn't happened yet - the expectation is...Read More
Seaborne iron ore trading activity picked up on Wednesday June 20 with bids and trades for Brazilian fines at higher levels.Metal Bulletin 62% Fe Iron Ore Index: $65.49 per tonne cfr Qingdao, down $0.96 per tonneMetal Bulletin 58% Fe Premium Index: $53.61 per tonne cfr Qingdao, down $0.01 per tonneMetal Bulletin 65% Fe Iron Ore Index: $88.30 per tonne cfr Qingdao, up $1.50 per tonneMetal Bulletin...Read More
China's ferrous futures remained subdued during morning trading on Wednesday June 20, with the benchmark contracts ending the session largely unchanged from their opening after experiencing major losses a day earlier.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,786 yuan ($585) per tonne, unchangedOctober hot-rolled coil: 3,880 yuan per tonne, up 6 yuan per ton...Read More
Sentiment in the CIS steel billet export market has cooled this week because buying activity has not bounced back as expected after last week's Ramadan and eid holidays.Some CIS mills were trying to push through higher prices, following reports of several CIS-origin cargoes being sold at $515-520 per tonne fob Black Sea last week, with higher scrap values in Turkey leading to a glob...Read More
China's domestic rebar prices remained in a downward trend on Wednesday June 20 after futures weakened in the first few hours of the day, which kept trading activity at a minimum in the spot market.Domestic Eastern China (Shanghai): 4,100-4,150 yuan ($633-641) per tonne, down 10-20 yuan per tonne Northern China (Beijing): 3,880-3,920 yuan per tonne, down 20-30 yuan per tonne Rebar futures had a we...Read More
Ferro-chrome prices cif China have risen over the past two weeks, underpinned by uncertain electricity supply at the country's main exporter, which could lead to higher production costs, as well as tightening domestic supply. Metal Bulletin calculated the charge chrome index cif China at $0.97 per Ib on Friday June 15, up 4 cents week on week and following another 4 cent increase the week pri...Read More
The European Commission (EC) is introducing rebalancing measures this week in response to the US tariffs on steel and aluminium, it said on Wednesday June 20. The measures will immediately target a list of products worth ?,?2.8 billion ($3.24 billion) and will come into effect on Friday June 22. The list of US imports that will now face an extra duty at the EU border include steel and aluminium pr...Read More
North China-based Ganglu Iron & Steel (Ganglu Steel) will keep back 100,000 tonnes of its hot-rolled coil from the spot marketeach month when it starts up a new 2 million tonnes per year cold-rolled coil line later this year.According to local media reports in Tangshan city, Hebei province, on Wednesday June 20, construction work for the CRC line will be completed this month and Ganglu Steel...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil did not change over the past week, with participants retreating from the market on Tuesday June 19 following threats by United States to impose fresh tariffs on Chinese imports.Cold-rolled coilMetal Bulletin's assessment of prices for July/August shipments of SPCC 1.0mm CRC was $620-630 per tonne fob for the week ended Tuesd...Read More
Zinc prices on the London Metal Exchange settled at their lowest in nine months at the close of trading on Wednesday June 20, while copper prices continued to edge lower on a surging US dollar index. Closing below $3,000 per tonne for the first time since August 2017, zinc prices fell to a low of $2,981 per tonne over the afternoon, shedding more than 6% of its three-month price week on week. ...Read More
Over-eager zinc bears have contributed to a ballooning backwardation in London Metal Exchange price spreads, having bet prices would drop further and sooner than fundamentals have allowed. The LME cash/three-month zinc price spread swung into a $43 per tonne backwardation on Monday June 18, from $30 per tonne backwardation on June 12 and a $3 per tonne contango at the end of May. The spreads have...Read More
Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe are unchanged over the past week, sources said on Wednesday June 20.The Southern European domestic price for mesh-quality wire rod held at ?,?520-535 ($602-620) per tonne delivered on June 20 from a week earlier."Mills are looking to push prices up but this hasn't happened yet - the expectation is...Read More
Prices for rebar produced and delivered in Northern Europe are unchanged over the past week amid stronger demand and reduced stock levels, sources told Metal Bulletin on Wednesday June 20.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe held at ?,?535-545 ($620-631) per tonne delivered on Wednesday."We can see that demand is coming back but it has not exactly spiked,"...Read More
The latest metal markets news and price moves to start the North American day on Wednesday June 20. Base metals on the London Metal Exchange mostly ticked higher during morning, with nickel prices climbing 1.2% to recover from Tuesday's lull. Bucking the trend, however, copper prices continue to edge lower and have shed more than 5% on the week, reaching a three-week low during the morning of $6,8...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Wednesday June 20.Most base metals on the Shanghai Futures Exchange staged a minor recovery during Asian morning trading on Wednesday, after suffering sharp declines on Tuesday. The most-traded August copper contract price on the SHFE stood at 51,840 yuan ($8,010) per tonne as at 10.45 am Shanghai t...Read More
Over-eager zinc bears have contributed to a ballooning backwardation in London Metal Exchange price spreads, having bet prices would drop further and sooner than fundamentals have allowed. The LME cash/three-month zinc price spread swung into a $43 per tonne backwardation on Monday June 18, from $30 per tonne backwardation on June 12 and a $3 per tonne contango at the end of May. The spreads have...Read More
Zinc prices on the London Metal Exchange settled at their lowest in nine months at the close of trading on Wednesday June 20, while copper prices continued to edge lower on a surging US dollar index. Closing below $3,000 per tonne for the first time since August 2017, zinc prices fell to a low of $2,981 per tonne over the afternoon, shedding more than 6% of its three-month price week on week. ...Read More