Coated coil prices in Turkey were stable this week, with demand remaining poor in both the local and export markets, sources told Metal Bulletin on Friday June 1. Domestic prices One Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $745-750 per tonne ex-works this week, while no new price was heard from the second producer, who offered similar product at $770-780 p...Read More
Flat steel prices in Turkey's domestic, import and export markets have been mostly stable this week, with demand remaining limited, market participants told Metal Bulletin on Friday June 1.Some domestic producers are still accepting orders for July production, while others have closed their order books for July but have not yet started to offer August production.Domestic pricesHot-rolled coil (HRC...Read More
The United States' decision to impose Section 232 tariffs of 25% on steel imports is the "best worst-case scenario", European long steel exporters told Metal Bulletin this week.The US imposed Section 232 tariffs of 25% on steel imports and 10% on aluminium imports from Canada, Mexico and the European Union with effect from 12.01am on Friday June 1. "We are happier with a 25% tariff than a quo...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in May 2018.The case list below includes only updates. For other continuing cases this year, see...Read More
Domestic prices for rebar in Poland have been under pressure from competitive import offers, sources told Metal Bulletin on Friday June 1.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,250-2,280 zloty ($609-617) per tonne ex-works on June 1, compared with 2,220-2,270 zloty...Read More
Europe import prices for austenitic alloy steel scrap softened this week as the effect of high nickel prices was offset by sluggish demand, sources told Metal Bulletin on Friday June 1. Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,180-1,200 ($1,379-1,402) per tonne cif main European ports on Friday, down from ?,?1,200-1,240 per ton...Read More
Trading activity in the United States has slowed down in the pig iron market since buyers restocked early in May. They are expected to resume purchases later in June, when the trend in the scrap market becomes clear, Metal Bulletin was told on Friday June 1."Further developments will depend on decisions about trade regulations in the US [after it imposed its threatened 25% import tariff on steel p...Read More
Global ferrous scrap prices continued to soften during the week ended Friday June 1, with economic uncertainty in Turkey exerting downward pressure on spot trading values.The imposition by the United States of Section 232 import tariffs at 25% on steel from Canada, Mexico and the EU also damped market sentiment.Buyers in other parts of the world waited for better prices, causing negotiation activi...Read More
Brazilian slab export prices remained unchanged on Friday June 1, with few offers being heard due to a nationwide strike by truck drivers that affected production in most steelmaking facilities in the country.Metal Bulletin's weekly assessment of Brazil's export slab prices was $580-590 per tonne fob on June 1, stable from the previous week.A few offers were heard to the North American market at $...Read More
China's domestic rebar prices maintained their upward trend on Friday June 1 following higher futures. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($624-632) per tonne, up 80 yuan per tonne Northern China (Beijing): 3,900-3,940 yuan per tonne, up 30-50 yuan per tonne Trading activity dropped today after prices rose following gains in the futures market. Buyers are waiting to see...Read More
By Peter KennedyAnthony Milewski, Chairman and CEO of Cobalt 27 Capital, at the company's cobalt warehouse in Rotterdam, the Netherlands. Photo courtesy Cobalt 27 Capital Corp.The strong global economic growth expected in 2018 should be synonymous with higher industrial metal prices, according to a new commodity trends report by Desjardins Group.The view was supported this week by news that China'...Read More
SHANGHAI, Jun 1 (SMM) – Most nonferrous metals weakened on Friday June 1. SHFE lead fell 0.7%, and tin, zinc and aluminium dipped. SHFE nickel gained 2.1% and hit a record high. SHFE copper inched up.The ferrous complex rose across the board except for iron ore. Coking coal surged over 2%, rebar gained 1.7%, and hot-rolled coil and coke climbed slightly.Copper: As longs added their posi...Read More
SHANGHAI, Jun 1 (SMM) – Most nonferrous metals weakened on Friday June 1. SHFE lead fell 0.7%, and tin, zinc and aluminium dipped. SHFE nickel gained 2.1% and hit a record high. SHFE copper inched up.The ferrous complex rose across the board except for iron ore. Coking coal surged over 2%, rebar gained 1.7%, and hot-rolled coil and coke climbed slightly.Copper: As longs added their posi...Read More
SHANGHAI, Jun 1 (SMM) – Most nonferrous metals weakened on Friday June 1. SHFE lead fell 0.7%, and tin, zinc and aluminium dipped. SHFE nickel gained 2.1% and hit a record high. SHFE copper inched up.The ferrous complex rose across the board except for iron ore. Coking coal surged over 2%, rebar gained 1.7%, and hot-rolled coil and coke climbed slightly.Copper: As longs added their posi...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Index futures were virtually unchanged following release of the U.S. May Employment Report at 8:30 AM EDT. Consensus for May Non-farm Payrolls was 185,000 versus upwardly revised 159,000 in April. Actual was 223,000. Consensus for May Unemployment Rate was unchanged from April at 3.9%. A...Read More
Japan’s manufacturing purchasing managers’ index (PMI) for May surprised to the upside at 52.8, having been expected to remain at April’s level of 52.5, while China’s Caixin PMI came in at 51.1, which was unchanged from April’s reading. Taking into account yesterday’s better-than-expected reading on China’s official PMI, economic data may be picking up again, whi...Read More
SHANGHAI, Jun 1 (SMM) – Operating rates at wire and cable plants across China stood at 90.99% in May, up 0.82 percentage point year on year, and up 1.87 percentage points month on month, SMM research found.For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@smm.cnRead More
SHANGHAI, Jun 1 (SMM) – Prices of nickel soared since the start of 2018 as downstream consumption from batteries for electric vehicles grew and inventories of nickel briquette fell across LME warehouses. Environmental restrictions that limited domestic output also drove prices, said senior engineer and analyst of Jinchuan Nickel Cobalt Research, Du Guangyan, in an interview with SMM.Du...Read More
SHANGHAI, Jun 1 (SMM) – Operating rates at wire and cable plants across China stood at 90.99% in May, up 0.82 percentage point year on year, and up 1.87 percentage points month on month, SMM research found.For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@smm.cnRead More
European flat and long stainless steel base prices were unchanged this week but could come under pressure in the coming weeks as a result of significantly higher alloy surcharges for June deliveries, sources told Metal Bulletin on Friday June 1.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern Europe was ?,?1,015-1,050 ($1,186-1,226...Read More