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 January 2018.The case list below includes only updates.(1) BRAZIL HRC(2)...Read More
China's domestic prices for hot-rolled coil turned around on Thursday February 1 after declining over the past couple of days amid a strengthening paper market. DomesticEastern China (Shanghai): 4,090-4,120 yuan ($649-654) per tonne, up 20 yuan per tonne Northern China (Tianjin): 3,970-4,000 yuan per tonne, up 30-40 yuan per tonneHRC futures nearly rose to the 4,000-yuan-per-tonne mark in the morn...Read More
China's ferrous futures had little movement during morning trading on Thursday February 1 following talk about the possible extension of steelmaking restrictions in Hebei province.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,952 yuan ($627) per tonne, down 1 yuan per tonne May hot rolled coil: 3,979 yuan per tonne, up 9 yuan per tonne Dalian Commodity Exchange Ma...Read More
Demand and prices for Indian finished steel products are likely to be boosted over the coming year after the country's government announced stronger spending on infrastructure in its new budget, Metal Bulletin heard on Thursday February 1.India's budget allocation for infrastructure spending in its 2018-19 financial year, which begins in April, will rise to 5.97 trillion rupees ($93.65 billion), c...Read More
Finished long steel prices in Europe are expected to remain largely stable in February after rising steadily through January, market participants told Metal Bulletin this week.Domestic offer prices from European steel mills are still supported by high production costs and strong demand from end-users.Market participants expect domestic rebar prices in Northern Europe to remain strong in February,...Read More
Bahrain rebar producer Unirol is planning to increase its rebar production capacity to 300,000 tonnes per year from 200,000 tpy, a company executive told Metal Bulletin on Thursday, February 1. The company also plans to start exporting rebar by 2019, mainly to the Gulf Co-operation Council (GCC) countries. Rebar demand in the Middle East is currently moderate, while most...Read More
The falling scrap market pushed prices for CIS-origin pig iron down during the week ended Thursday February 1, Metal Bulletin has heard."The market has weakened, and producers can no longer keep pig iron prices high while the scrap market is crashing," a trader told Metal Bulletin.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region fell to $350-375 per tonne fo...Read More
The Turkish scrap import market remained quiet on Thursday February 1, with mills holding back in anticipation of a new price level, according to sources.There have been no new transactions heard since a US cargo was sold on January 30 at $348 per tonne cfr for HMS 1&2 (80:20).Suppliers did not want to follow that US cargo and lower their offer prices, Metal Bulletin was told."The mills are t...Read More
Iron ore prices remained largely stable on Thursday February 1 with transactions at Chinese ports and in the seaborne market being concluded at levels close to those a day earlier. Metal Bulletin's 62% Fe Iron Ore Index Today: $72.88 per tonne cfr Qingdao Daily change: down by $0.04 per tonne Month-to-date average: $72.88 per tonne Metal Bulletin's 58% Fe Premium Index Today: $59.59...Read More
Turkish billet prices have fallen over the past week because of the poor demand in the domestic and export markets and the lower costs for imported scrap, while demand for imported billet has recovered slightly, sources said on Thursday February 1.Metal Bulletin's weekly price assessment for billet imports into Turkey was $505-520 per tonne cfr on the day, down from the $515-525 per tonne of last...Read More
Steel billet import prices in Egypt fell slightly but domestic rebar prices remained unchanged in the week ended Thursday February 1.Billet import prices fell amid lower offer prices and news of a deal being agreed for material from Iran."Demand is not very strong and prices are going down," a trader told Metal Bulletin on Thursday."People will wait...Read More
China's domestic rebar prices picked up some upward momentum on Thursday February 1 amid gains in the billet and futures markets. Domestic Eastern China (Shanghai): 3,830-3,890 yuan ($608-618) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,900-3,950 yuan per tonne, widened upward by 10 yuan per tonneGains in the futures market in the first couple of hours of trading and an increase in...Read More
Ferro-alloys producer Ferroglobe has successfully completed the acquisition of a 100% interest in Glencore's manganese alloys plants in Mo i Rana (Norway) and Dunkirk (France) from a wholly-owned subsidiary of Glencore International, it said on Thursday February 1. Ferroglobe has received the necessary regulatory approvals in France, Germany and Poland for the purchases, the company added. The new...Read More
Slowing spot demand caught up with the molybdic oxide and ferro-molybdenum markets this week, with prices dropping after suppliers cut their offer prices to book profits following a strong rally in recent weeks, sources told Metal Bulletin. Metal Bulletin assessed molybdic oxide prices at $11.80-12.00 per lb in-warehouse Rotterdam on Wednesday January 31, down 20 cents from Friday. The market...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 January 2018.The case list below includes only updates.(1) BRAZIL HRC(2)...Read More
Demand and prices for Indian finished steel products are likely to be boosted over the coming year after the country's government announced stronger spending on infrastructure in its new budget, Metal Bulletin heard on Thursday February 1.India's budget allocation for infrastructure spending in its 2018-19 financial year, which begins in April, will rise to 5.97 trillion rupees ($93.65 billion), c...Read More
Swedish steel trading company BE Group forecast solid demand and largely stable steel prices in the first quarter of 2018 following its good performance in October-December 2017, in a report published on Thursday February 1."Demand during the upcoming quarter is expected to remain strong in the company's main markets. At the same time, steel prices are expected to remain at the same level as in th...Read More
The Brazilian long steel market was largely stable in January, but prices are now expected rise and a government decision on whether to allow ArcelorMittal Brasil to take control of Votorantim Siderurgia's long steel assets is imminent.That transaction is currently under review by the tribunal of Brazil's competition regulator, Cade, which is composed of six commissioners and a chairman, ArcelorMi...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 January 2018.The case list below includes only updates.(1) BRAZIL HRC(2)...Read More
Summary of Glencore's production results for the fourth quarter and full year 2017.(Own-sourced output volume, year-on-year % change) Copper Q4: 363,200 tonnes, 0% 2017: 1,309,700 tonnes, -8% Zinc Q4: 262,800 tonnes, -14% 2017: 1,090,200 tonnes, 0% Lead...Read More