Base Metal Stocks Articles

China AM: Ferrous futures remain subdued

March 08, 2018 / Gladdy Chu

China's ferrous futures, especially those of finished steel, remained weak during morning trading on Thursday March 8.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,858 ($610) per tonne, down 27 yuan per tonne May hot-rolled coil: 3,940 yuan per tonne, down 21 yuan per tonne Dalian Commodity Exchange May iron ore: 512.50 yuan per tonne, down 0.50 yuan per tonneMay...Read More

EUROPE SECTIONS: Price rises likely on shortage of HRC

March 08, 2018 / Lee Allen

Prices for hollow steel sections in Europe are expected to rise because of the low availability of steel coil, market sources have told Metal Bulletin.The supply of hot-rolled coil (HRC) has reduced because mills are heavily booked and there has been a lack of workable import offers. These factors have put tube mills in a quandary when trying to secure...Read More

EUROPE BEAMS: Mills see higher buyer confidence after February demand slump

March 08, 2018 / Lee Allen

Offer prices from mills for European domestic steel beams rose slightly this week, helped by an uptick in scrap prices and more interest from customers, although buyers were less convinced about the health of the market, Metal Bulletin heard.Higher offer prices from mills widened Metal Bulletin's price assessment for S235-grade, 200x200mm category-2 H-beams made in Northern Europe upward by ?,?5 p...Read More

DAILY SCRAP REPORT: Turkish mills hold back but more April deals expected

March 08, 2018 / Cem Turken

Turkish steel producers spent Thursday March 8 without making any deep-sea scrap transactions, but they are still expected to book more cargoes for April, according to market sources.The mills have booked a number of deep-sea cargoes this week, leading to an increase in the prices."Today, the scrap market was quiet, but Turkish mills need more...Read More

IRON ORE PRICES: Benchmark index tumbles to $73 per tonne

March 08, 2018 / Sophie Zhao

Iron ore prices tumbled to $73 per tonne cfr China on Thursday March 8 amid a weakening Chinese steel market.Metal Bulletin's 62% Fe Iron Ore Index Today: $73.23 per tonne cfr QingdaoDaily change: down by $2.61 per tonneMonth-to-date average: $76.65 per tonneMetal Bulletin's 58% Fe Premium Index Today: $59.28 per tonne cfr QingdaoDaily change: down by $1.05 per tonneMonth-to-date average: $60.78 p...Read More

Chinese steel woes drag iron ore prices toward $70 per tonne cfr

March 08, 2018 / July Zhang

Physical iron ore prices continued to drop on Thursday March 8 with the April swaps contract hitting the $70-per-tonne-cfr-China mark amid a weakening Chinese steel market.Key driversChina's ferrous futures tanked across the board for a second day, with the benchmark contracts falling 2.9-3.8% from the settlement levels a day earlier. The iron ore contract had the worst performance, ending just ab...Read More

EGYPT STEEL BILLET, REBAR: Prices go up but demand remains soft

March 08, 2018 / Serife Durmus

Steel billet import prices and domestic rebar prices in Egypt increased in the week ended Thursday March 8, although demand was still only moderate.Metal Bulletin's weekly price assessment for Egyptian billet imports rose to $530-545 per tonne cfr on Thursday from $525-540 per tonne cfr previously.CIS-origin billet was on offer in Egypt...Read More

TURKEY STEEL BILLET: Strong demand, costlier scrap, lack of supply push up Turkish prices

March 08, 2018 / Cem Turken

Turkish billet prices have continued to increase in line with rising imported scrap values, shortage of material and strong demand, sources said on Thursday March 8.Metal Bulletin's weekly price assessment for billet imports into Turkey on Thursday was $545-550 per tonne cfr, up from the $535-545 per tonne of last week.Suppliers in the CIS region have raised their offer prices to $550-560...Read More

CHINA REBAR: Soft demand weighs on domestic prices

March 08, 2018 / Jessica Zong

China's domestic rebar prices tumbled further on Thursday March 8 amid weak demand. Domestic Eastern China (Shanghai): 3,830-3,900 yuan ($606-617) per tonne, down 80-90 yuan per tonneNorthern China (Beijing): 3,950-3,990 yuan per tonne, down 40-50 yuan per tonneDemand from the construction sector has shown very little recovery since the country's Chinese New Year break, and remained weak in recent...Read More

East Asian stainless CRC prices widen

March 08, 2018 / Fiona Lam

Stainless cold-rolled coil prices in East Asia widened over the past week with offers from China and Taiwan going in opposite directions, while those for stainless hot-rolled sheet narrowed on thin trading.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed CRC was $2,235-2,350 per tonne cif East Asian ports for the week ended Wednesday March 7, widening from $2,250-2,330...Read More

EUROPE SECTIONS: Price rises likely on shortage of HRC

March 08, 2018 / Lee Allen

Prices for hollow steel sections in Europe are expected to rise because of the low availability of steel coil, market sources have told Metal Bulletin.The supply of hot-rolled coil (HRC) has reduced because mills are heavily booked and there has been a lack of workable import offers. These factors have put tube mills in a quandary when trying to secure...Read More

Mexico sets anti-dumping duties on Chinese tube imports

March 08, 2018 / Ana Paula Camargo

The Mexican government has imposed final anti-dumping duties on imports of welded tube from China, the country's economy secretariat said.The decision follows confirmation that Chinese products were entering the country at lower prices than domestic ones, resulting in significant dumping margins, it added on Thursday March 8.Goods shipped by Chinese exporter Huludao will...Read More

Japan's NSSMC expects to see new breed of cars amid strong global steel demand

March 08, 2018 / Paul Lim

Major Japanese steel producer Nippon Steel & Sumitomo Metals Corp (NSSMC) expects the requirements for car-making materials to become more diverse and advanced as automotive producers try to make vehicles that are lighter, stronger and more environmentally friendly."Rapid innovations in information technology such as artificial intelligence, a shift to electric [power] and other new energy vehicle...Read More

US expected to announce official Section 232 tariffs in the next five hours

March 08, 2018 / editorial@metalbulletin.com

The United States is expected to announce the official Section 232 import tariffs in the next five hours - keep up to date with all the 232-related news.To see...Read More

Mexico sets anti-dumping duties on Chinese tube imports

March 08, 2018 / Ana Paula Camargo

The Mexican government has imposed final anti-dumping duties on imports of welded tube from China, the country's economy secretariat said.The decision follows confirmation that Chinese products were entering the country at lower prices than domestic ones, resulting in significant dumping margins, it added on Thursday March 8.Goods shipped by Chinese exporter Huludao will...Read More

EUROPE SECTIONS: Price rises likely on shortage of HRC

March 08, 2018 / Lee Allen

Prices for hollow steel sections in Europe are expected to rise because of the low availability of steel coil, market sources have told Metal Bulletin.The supply of hot-rolled coil (HRC) has reduced because mills are heavily booked and there has been a lack of workable import offers. These factors have put tube mills in a quandary when trying to secure...Read More

EUROPE BEAMS: Mills see higher buyer confidence after February demand slump

March 08, 2018 / Lee Allen

Offer prices from mills for European domestic steel beams rose slightly this week, helped by an uptick in scrap prices and more interest from customers, although buyers were less convinced about the health of the market, Metal Bulletin heard.Higher offer prices from mills widened Metal Bulletin's price assessment for S235-grade, 200x200mm category-2 H-beams made in Northern Europe upward by ?,?5 p...Read More

LIVE FUTURES REPORT 08/03: LME ali price holds steady with 232 announcement due; other base metals still under pressure

March 08, 2018 / Alice Mason

Aluminium's three-month price recovered above $2,100 per tonne at the 5pm close on Thursday March 8, with all eyes on the United States' expected tariff announcement. President Donald Trump is expected to announce the official Section 232 import tariffs after 8pm London time, which held the aluminium three-month price steady throughout the day. It closed $8 higher at $2,106 per tonne. Tin was the...Read More

EU LONG STEEL OUTLOOK: Prices to rise as producers expect spring demand boost

March 08, 2018 / Lee Allen

Prices for long steel products are expected to increase across Europe in March with steel mills counting on a rise in consumption as the weather improves, market sources told Metal Bulletin this week. Cold and wintry weather conditions have restricted construction activity in Europe in recent weeks, thereby pushing down demand for long steel products. But weather and demand have both improved...Read More

SMM Evening Comments (Mar 8)

Mar 08 2018 / Staff reporter

SHANGHAI, Mar 8 (SMM) – Nonferrous metals fell across the board in the afternoon with SHFE nickel leading the loss with a 2% drop. Copper and zinc were down over 1%, aluminium slid almost 1%, and other metals edged down.The ferrous complex also saw a weak performance, with iron ore and rebar leading the slump and closing 4% lower. Coke and coking coal dropped over 3%, and hot-rolle...Read More

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