Flat steel import prices in the United Arab Emirates and Saudi Arabia showed only small changes this week because demand was limited by the start of the Islamic holy month of Ramadan, sources told Metal Bulletin on Tuesday May 22.Buyers preferred to postpone bookings during the holy month, which started last week.Working hours are reduced in Saudi Arabia, with Ramadan always being a slow month in...Read More
SHANGHAI, May 22 (SMM) – Copper: LME copper stuck between all moving averages with support at the 40-day moving average overnight. It rebounded and closed higher at $6,898/mt after it dipped twice as the US dollar gained and LME copper inventory registered a fourth consecutive day of gain of 1,425 mt. We see it rising to $6,870-6,930/mt today as pressure from shorts let up. Th...Read More
In this week’s analysis, we review...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
China's domestic hot-rolled coil prices decreased slightly on Tuesday May 22 amid sparse trading. DomesticEastern China (Shanghai): 4,240-4,260 yuan ($664-667) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 4,080-4,100 yuan per tonne, down 10 yuan per tonneBuyers procured materials at a lower rate on seeing the benchmark HRC futures contract trade below Monday's settlement price of 3,7...Read More
ILZSG estimates a 25,000-tonne surplus in...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
China's rebar, coke and iron ore futures fell during morning trading on Tuesday May 22, while the hot rolled coil and coking coal contracts ended the session largely flat.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,586 ($561) per tonne, down 20 per tonneOctober hot-rolled coil: 3,778 yuan per tonne, down 1 per tonneDalian Commodity Exchange September iron or...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More
CIS export rebar and wire rod prices remained unchanged in the week ended Monday May 21 with varying factors pulling the markets in different directions.Some market participants expected prices to pick up in the near term amid a reduction in the availability of material from Ukraine's ArcelorMittal Kryvyi Rih. This follows last week's production halt, which itself was the result of a four-day stri...Read More
Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
China's domestic and export prices for rebar fell on Tuesday May 22 on weakening futures. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($611-618) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,880-3,900 yuan per tonne, down 10-20 yuan per tonneThe continual drop in the futures market over the past few days put pressure on spot rebar prices. In east China, prices experienced a...Read More
Three-month base metals prices on the London Metal Exchange were little changed to weaker on the morning of Tuesday May 22, with prices down by an average of 0.3%. This was skewed, however, by losses of around 0.6% in aluminium, nickel and zinc. Copper was off by 0.1% at $6,894 per tonne. Volume on the LME has been average with 5,183 lots traded as at 07.02 am London time. This follows a strong pe...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More
The Turkish deep-sea scrap market remained silent on Tuesday May 22, with mills still looking for lower prices.The mills continue to struggle with the weakness of the lira against the US dollar, which is affecting the local market very badly, while the demand for finished steel in the export markets was also sluggish, according to market sources.Turkish mills booked only three deep-sea cargoes las...Read More
Physical iron ore prices continued to retreat on Tuesday May 22 amid further losses in the futures and finished steel markets.Metal Bulletin 62% Fe Iron Ore Index: $64.41 per tonne cfr Qingdao, down by $0.89 per tonneMetal Bulletin 58% Fe Premium Index: $52.87 per tonne cfr Qingdao, down by $0.95 per tonneMetal Bulletin 65% Fe Iron Ore Index: $83.40 per tonne cfr Qingdao, down by $0.70 per tonneMe...Read More
CIS export billet prices remained stable on Tuesday May 22 with buying activity no better than sluggish, Metal Bulletin has heard."With these prices, no-one is making money so sales are not happening," an international trader told Metal Bulletin, referring to high offer prices from CIS mills and low bids from customers.Metal Bulletin's CIS billet export index was $524 per...Read More
China's domestic and export prices for rebar fell on Tuesday May 22 on weakening futures. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($611-618) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,880-3,900 yuan per tonne, down 10-20 yuan per tonneThe continual drop in the futures market over the past few days put pressure on spot rebar prices. In east China, prices experienced a...Read More
Chinese vanadium export prices continued to register declines after exporters lowered their offers in order to drum up buying interest, while European vanadium prices again followed the downtrend in the Chinese market. Chinese export prices soften on thin trading European vanadium prices remain under pressure amid profit-taking US FeV market grinds to a halt, prices flatThe Chinese vanadium expor...Read More
Vale has denied that any negotiation is in place or that it has reached an agreement to acquire BHP's stake in Brazil-based iron-ore pellet producer Samarco, as reported by the local press.Vale and BHP are focused on supporting the resumption of Samarco's operations, as well as the Renova Foundation programs for remediation and compensation of the areas and communities affected by the dam failure,...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 22.Please click...Read More
The London Metal Exchange has confirmed that its "temporary conditional suspension" of Rusal-warranted metal will remain in place, Metal Bulletin has learned.The LME first announced the suspension on April 10 following the US' decision to sanction Oleg Deripaska and UC Rusal. The bourse specified that Rusal-warranted metal will remain under suspension unless deemed acceptable, highlighting that pr...Read More