Turkish domestic auto bundle scrap prices have gone down slightly this week, while ship scrap prices have remained stable, sources told Metal Bulletin on Monday February 5.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was TRY1,190-1,400 ($315-371) per tonne delivered on Monday, widening downward from last week's $1,210-1,400 per tonne.The slight change in the...Read More
Comex copper prices were pulled lower on Tuesday February 6 by a combination of the recent equity sell-off and a dollar increase. Copper for March settlement on the Comex division of the New York Mercantile Exchange gained 3.75 cents or 1.2% to $3.2250 per lb. The red metal dipped to a one-week low on Friday following a heavy sell-off in equity markets. "Judging by the limited pullback in the base...Read More
Mining investors in the Democratic Republic of Congo (DRC) are united in their desire to fight the country's new mining code, and could take legal action if they fail to reach a mutually-agreeable solution, according to the chief executive officer of Randgold Resources.Speaking during an interview with Metal Bulletin on a panel at the Mining Indaba conference in Cape Town, Bristow said that it was...Read More
The South African mining sector must strive to build a competitive, transformed and sustainable industry, the chairperson of the Council for Geoscience said at Mining Indaba in Cape Town this week. "While there may be tough choices and tradeoffs to be made, the South African mining industry must continue to thrive and to balance sustainability, competitiveness and transformation," Dr Humphrey Math...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia continued to increase this week, with demand being slightly better in the UAE, Metal Bulletin heard on Tuesday February 6.UAEHot-rolled coil (HRC) was being offered at $640-650 per tonne cfr from China, although buyers were bidding only $610-620 per tonne cfr.India offered the product at $650 per tonne cfr, with one buyer biddin...Read More
Russian flat-steel producers keep offers for February-rolled material high despite low demand due to a possible price reduction for March-rolled products.Metal Bulletin's price assessment for Russian 4mm hot-rolled (HR) steel sheet increased to 42,500-43,000 roubles ($748-757) per tonne cpt Moscow, including value-added tax, on February 5 from 41,700-42,500 roubles per tonne cpt Moscow a week earl...Read More
Trading activity was thin in both the domestic and export markets for Chinese hot-rolled coil on Tuesday February 6 with more and more participants in China making an early start to their Lunar New Year holiday, which kept prices largely steady.DomesticEastern China (Shanghai): 4,110-4,130 yuan ($653-656) per tonne, narrowed downward by 10 yuan per tonneNorthern China (Tianjin): 4,000-4,030 yuan p...Read More
Prices for steel rebar and ferrous scrap are likely to get continued supported from the weakness of the United States dollar and healthy demand in the coming few months, the International Rebar Producers & Exporters Association (Irepas) said this week.The US dollar has depreciated by 6.31% against the euro and by 5.65% against sterling since the beginning of the year, according to exchange rate si...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarTurkey, export, rebar, offered at $545-550 per tonne cfr, theoretical weight,...Read More
Most rebar and billet prices in the United Arab Emirates and Saudi Arabia fell this week, while the import market stayed quiet, sources told Metal Bulletin on Tuesday February 6. But strong demand for local rebar in the UAE meant that domestic prices remained firm this week. Domestic rebar The major rebar producers in the UAE announced new prices on January 16 and they have rem...Read More
The Turkish steel mills have returned to the deep-sea scrap markets for two US cargoes, after a short break for negotiations, sources said on Tuesday February 6.A steel mill in the Izmir region booked a US cargo on February 6, comprising 15,000 tonnes of HMS 1&2 (80:20) at $343 per tonne, 20,000 tonnes of shredded at $348 per tonne and 5,000...Read More
Turkish domestic auto bundle scrap prices have gone down slightly this week, while ship scrap prices have remained stable, sources told Metal Bulletin on Monday February 5.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was TRY1,190-1,400 ($315-371) per tonne delivered on Monday, widening downward from last week's $1,210-1,400 per tonne.The slight change in the...Read More
Seaborne iron ore prices moved up on Tuesday February 6, alongside wider margins at Chinese steel mills. Metal Bulletin's 62% Fe Iron Ore Index Today: $75.92 per tonne cfr Qingdao Daily change: Up by $0.22 per tonne Month-to-date average: $74.72 per tonne Metal Bulletin's 58% Fe Premium Index...Read More
China's domestic rebar market maintained its upward momentum on Tuesday February 6 amid an improved outlook for prices after the Chinese New Year holiday.Domestic Eastern China (Shanghai): 3,880-3,940 yuan ($616-626) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,940-3,980 yuan per tonne, up 20 yuan per tonne Trading houses have raised their offers slightly on expectations of healthy...Read More
Tight supply resulted in import prices strengthening for steel billet in Southeast Asia and slab in the wider region encompassing East Asia over the past week.Metal Bulletin's assessment of import prices for billet in Southeast Asia was $535-550 per tonne cfr for the week ended Monday February 5, widening upward by $5 per tonne from a week earlier. Deals involving Middle Eastern and Japanese cargo...Read More
After slab prices increased in most regions in January, market participants anticipate limited room for further rises - but material availability is expected to remain tight. Supply was limited in Brazil, the Commonwealth of Independent States and Southeast Asia, while demand has been lively in Turkey and Europe, according to market participants. BrazilIn Brazil, market participants disputed wheth...Read More
Chinese and European ferro-vanadium prices softened last week amid lackluster spot market demand, while the US market held firm under similar conditions. Chinese market slows as Chinese New Year holidays approachEuropean market slightly softer on sluggish spot demandUS market holds course despite thin trading activity Inquiries were thin for fob China vanadium products over the past week, but dome...Read More
Car production in Brazil increased by 24.6% year on year in January, driven by higher sales to both local and export markets.Output came to 216,800 units, against 174,100 vehicles a year before, according to figures released by national automobile association Anfavea on Tuesday February 6. This is the highest output level for the...Read More
Vehicle production in Argentina decreased 18.3% on an annual basis in January, according to figures released by the country's auto association, Asociacion de Fabricas de Automotores (Adefa), on Monday February 5.Automotive production amounted to 21,858 units last month, compared with 26,762 units a year earlier. Production was affected by a lower number of working days in January 2018, compared wi...Read More
The Turkish steel mills have returned to the deep-sea scrap markets for two US cargoes, after a short break for negotiations, sources said on Tuesday February 6.A steel mill in the Izmir region booked a US cargo on February 6, comprising 15,000 tonnes of HMS 1&2 (80:20) at $343 per tonne, 20,000 tonnes of shredded at $348 per tonne and 5,000...Read More