Prices for imported steel billet and rebar in the UAE and Saudi Arabia have increased, while domestic rebar prices in the UAE have remained stable, sources told Metal Bulletin this week. Demand for locally produced rebar, meanwhile, was strong in and market participants expect prices to increase. Billet Iranian mills were offering billet at $535-540 per tonne cfr to the UAE, while billet from Gulf...Read More
Commonwealth of Independent States steel export slab and billet prices are expected to level off in the first quarter of 2018 after the erosion of slab's premium to billet in the second half of 2017, sources told Metal Bulletin. But longer-term prospects for the slab-billet spread are uncertain and could depend on Chinese investments in secondary steelmaking capacity. "Our short-term forecast says...Read More
European alloy surcharges for January deliveries of grade-304 cold-rolled (CR) stainless steel sheet have fallen month-on-month amid lower nickel costs.The January alloy surcharge for 2mm grade-304 CR stainless steel sheet - compiled by Metal Bulletin based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,240-1,301 ($1,488-1,561) per tonne.This represents a fall of ?,?59-80 per tonne...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 December 2017.The case list below includes only updates. For other continuing cases in 2017, see the January, February, March, April, May, June, July, August, September, October and November updates.INVESTIGATING REGIONProductOrigin of...Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
Prices are likely to rise in the eurozone manufacturing sector this year following the purchasing managers' index (PMI) for the region reaching a record high in December 2017, data organization IHS Markit said on Tuesday January 2.December's final manufacturing PMI for the eurozone was 60.6, compared with 60.1 in July, amid strong expansions in new orders and output. The reading was the highest re...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 December 2017.The case list below includes only updates. For other continuing cases in 2017, see the January, February, March, April, May, June, July, August, September, October and November updates.INVESTIGATING REGIONProductOrigin of...Read More
A summary of base metals premiums across the globe for the week to Tuesday January 2.Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
Base metals prices were on divergent paths at the close on the London Metal Exchange on Tuesday January 2 while most prices tried to consolidate recent gains. Zinc was one of the strongest performers today, hitting a high of $3,352 per tonne - the highest since August 2007. Lead followed its sister metal higher, closing up 2%. "Zinc has opened 2018 in a bullish mood; still, falling LME stocks sugg...Read More
Flat steel buyers in the United Arab Emirates and Saudi Arabia preferred to wait for new prices to be announced before making any new purchases, sources told Metal Bulletin on Tuesday January 2.There was no new price published after the New Year holiday, and the domestic markets in those countries were trying to get used to the imposition of 5% VAT on January 1, 2018.However, most buyers were expe...Read More
The latest metal markets news and price moves to start the North American day on Tuesday January 2.Base metals prices on the London Metal Exchange have started the year in a strong position with prices mostly in positive territory during morning trading today.This comes following a positive end to the year last week where copper hit a near four-year high and most metals closed near to their 2017 y...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the key news and market stories on Tuesday January 2. Copper prices on the Shanghai Futures Exchange (SHFE) fell during the Asian morning session on the first trading day of 2018 after China's official Purchasing Managers' Index (PMI) came in below market expectations. Check Metal Bulletin's live futures report here. LME snapshot at 0251...Read More
Commonwealth of Independent States steel export slab and billet prices are expected to level off in the first quarter of 2018 after the erosion of slab's premium to billet in the second half of 2017, sources told Metal Bulletin. But longer-term prospects for the slab-billet spread are uncertain and could depend on Chinese investments in secondary steelmaking capacity. "Our short-term forecast says...Read More
Europe's steel industry is poised for significant consolidation in 2018, though the upside from the scaling back of overcapacity will need to be balanced by the requirement for competitive markets.The New Year is likely to see the formal completion of the merger between Tata Steel and Thyssenkrupp's European steel operations. Thyssenkrupp Tata Steel, in which both companies will hold a 50% stake,...Read More
Southeast Asia is expected to increase its self-sufficiency in 2018 once more flat steel producers start up their plants. The demand for slab is also expected to increase once the production lines are up and running.Vietnam's Hoa Phat Group is targeting a 2019 start-up for its 4-million-tonne-per-year integrated steel mill in central Vietnam. Located in Quang Ngai province, the $2.7-billion mill w...Read More
Base metals prices were on divergent paths at the close on the London Metal Exchange on Tuesday January 2 while most prices tried to consolidate recent gains. Zinc was one of the strongest performers today, hitting a high of $3,352 per tonne - the highest since August 2007. Lead followed its sister metal higher, closing up 2%. "Zinc has opened 2018 in a bullish mood; still, falling LME stocks sugg...Read More
Comex copper prices consolidated in the US morning on Tuesday January 2 after trading around a four-year high at the end of 2017. Copper for March settlement on the Comex division of the New York Mercantile Exchange dipped 1.20 cents or 0.4% to $3.2885 per lb. Earlier today, prices were in positive territory after Chinese manufacturing data surprised to the upside. But after closer inspection and...Read More
Prices in China for hot-rolled coil narrowed upward in Shanghai on Tuesday January 2 following the rising paper market, but dipped in Tianjin on poor demand.DomesticEastern China (Shanghai): 4,290-4,310 yuan ($658-661) per tonne, narrowed upward by 10 yuan per tonneNorthern China (Tianjin): 4,150-4,180 yuan per tonne, down by 20 yuan per tonneThe northern Chinese market remained weak amid poor dem...Read More