The Turkish scrap import market was still silent at the beginning of this week, with the country's steel mills still in negotiations with suppliers, sources said on Monday February 5.The steel producers in Turkey had returned to the deep-sea scrap market at the end of last week for three deep-sea cargoes from the United States and the UK.Two steel mills booked US cargoes at...Read More
South Africa urgently needs to get investment back on the agenda, according to the deputy chairman of Anglo American South Africa. Speaking during the annual Mining Indaba in Cape Town, Norman Mbazima said that while South Africa may have one of the world's most endowed mining jurisdictions, it has not been able to bring this endowment to account. "We need to attract capital for South Africa's min...Read More
Comex copper prices diverged from equity markets and returned to positive territory on Monday February 5, with the global environment remaining solid for the base metals group. 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 selloff in equity markets...Read More
Base metals traded on the London Metal Exchange are off to a slightly negative start this week, posting an average loss of 0.4% this morning, Monday February 2. Nickel (-0.8%) is down the most, while tin (+0.3%) is the only base metal showing a gain.Volume has been fairly low with 4,947 lots traded as of 05.01 am London time.The downward pressure across the complex seems to be driven by a further...Read More
Demand for flat steel will remain moderate in Turkey in February and price increases are unlikely because raw material prices are falling and end-user demand is unremarkable, market participants told Metal Bulletin.Metal Bulletin assessed the price of hot-rolled coil (HRC) at $630-635 per tonne ex-works on Friday February 2, down at the high end from $630-640 per tonne in the previous assessment b...Read More
With the Chinese economy slowing down and steel margins being squeezed by higher raw materials costs and lower finished steel prices, the prospects for 2018 do not exactly look rosy.But pressures on the domestic housing market are easing and industrial growth is still above 6%, so with the Chinese New Year just around the corner, it's probably best to wait until after the celebrations to...Read More
Import prices for re-rolling-grade hot-rolled coil in Vietnam widened upward over the past week amid steady demand.Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $585-595 per tonne cfr for the week ended Monday February 5, widening upward by $2 per tonne from a week earlier.Some 10,0...Read More
European apparent steel consumption is forecast to increase by 1.90% year-on-year in 2018 and by 1.40% year-on-year in 2019, European steel association Eurofer said at a seminar held in Brussels, Belgium, on Monday February 5.European steelmakers gained EU market share over the course of 2017, with import volumes falling in the second half of 2017. Steel imports held a 21% share of apparent steel...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: wire rod, rebarWire rodUkraine, export, wire rod, assessed at $580-595 per tonne fob Black Sea.Ukraine (ArcelorMittal Kryvyi...Read More
Finished steel prices in Russia will be reliant on moves in the global market and on how well the rouble holds up against the US dollar in 2018, Yuriy Tsybulko vice-president at Russia's biggest trading company, Metallservice, told Metal Bulletin. "The Russian [steel] market directly depends on the global market, which is why our domestic market will be [affected] by the situation in Chi...Read More
The Turkish scrap import market was still silent at the beginning of this week, with the country's steel mills still in negotiations with suppliers, sources said on Monday February 5.The steel producers in Turkey had returned to the deep-sea scrap market at the end of last week for three deep-sea cargoes from the United States and the UK.Two steel mills booked US cargoes at...Read More
With the Chinese economy slowing down and steel margins being squeezed by higher raw materials costs and lower finished steel prices, the prospects for 2018 do not exactly look rosy.But pressures on the domestic housing market are easing and industrial growth is still above 6%, so with the Chinese New Year just around the corner, it's probably best to wait until after the celebrations to...Read More
Seaborne iron ore prices moved up on Monday February 5 amid gains in the futures market.Metal Bulletin's 62% Fe Iron Ore IndexToday: $75.70 per tonne cfr QingdaoDaily change: $1.31 per tonneMonth-to-date average: $74.32 per tonneMetal Bulletin's 58% Fe Premium IndexToday: $61.14 per tonneDaily change: Up by...Read More
The downward trend in the CIS export steel billet market slowed down in the week ended Monday February 5 with deal prices remaining largely unchanged week-on-week.Metal Bulletin's weekly export CIS Billet Index was stable at $492 per tonne fob Black Sea on February 5.Ukrainian steelmaker Metinvest offered billet at $490 per tonne fob Black Sea late last week, sources told Metal Bulletin.Market par...Read More
China's domestic rebar prices rose slightly on Monday February 5 amid a strengthening of the billet market.Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($612-622) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,920-3,960 yuan per tonne, widened upward by 10 yuan per tonneThe price of billet increased by 20 yuan per tonne over weekend, which gave the spot rebar market a boost.But...Read More
Chinese ferro-silicon prices have edged down in line with tender purchase prices in the past week, with the European market easing amid reports of deals heard below the current range. China tracks lower tender purchase prices ...but supportive factors seen European price range eases US market firms while available supply thins Chinese domestic ferro-silicon prices were lower week on...Read More
Manganese ore prices have climbed higher in the past week, extending a run higher on relatively tight spot availability and consumer demand in China ahead of the week-long national holiday beginning on February 15. Manganese ore markets eye price increases on tight availability and Chinese demandEuropean alloys market extends trend of stable pricesUS silico-manganese prices tick higher Manganese...Read More
Tightening supply in China pushed up chrome ore and domestic and imported charge chrome prices in the week to Friday February 2, while the European market dipped and the US price range widened. Tight supply, transport disruptions push up domestic Chinese ore and alloy marketsCharge chrome import prices jump on rand appreciationPrices edge up in JapanEuropean market slips amid thin tradingUS marke...Read More
European apparent steel consumption is forecast to increase by 1.90% year-on-year in 2018 and by 1.40% year-on-year in 2019, European steel association Eurofer said at a seminar held in Brussels, Belgium, on Monday February 5.European steelmakers gained EU market share over the course of 2017, with import volumes falling in the second half of 2017. Steel imports held a 21% share of apparent steel...Read More
With the Chinese economy slowing down and steel margins being squeezed by higher raw materials costs and lower finished steel prices, the prospects for 2018 do not exactly look rosy.But pressures on the domestic housing market are easing and industrial growth is still above 6%, so with the Chinese New Year just around the corner, it's probably best to wait until after the celebrations to...Read More