The Turkish deep-sea scrap market remained silent on Tuesday January 2, as suppliers remained out of the market, sources told Metal Bulletin.Steel mills in the country paused their deep-sea bookings two weeks ago, but are expected to book more cargoes for February.However, suppliers have stayed away during the New...Read More
Turkey's ministry of economy removed the country's import duty on rebar on Monday January 1, sources told Metal Bulletin this week.The ministry had previously cut the import tax to 10% from the previous 30% on July 28, due to high domestic rebar prices.Metal Bulletin's weekly price assessment for domestic...Read More
Brazil's primary aluminium export volumes dropped 24.1% year on year in December, according to preliminary figures released by the country's foreign trade ministry, MDIC, on Tuesday January 2.Shipments totaled 19,489 tonnes last month, down from 25,683 tonnes in December 2016. This was also a decline from November 2017's level of 20,821 tonnes, according to...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
Chilean copper mine production is expected to reach 6.32 million tonnes per year in 2028, an increase of 13.9% from 2016 levels, the country's copper commission, Cochilco, found. Such a growth estimate is "based on the levels of certainty of the mining projects contemplated in the 2017 investments portfolio," Cochilco said in a recent study. Without these mining projects, Chile's copper mine produ...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
Sales of aluminium-zinc-coated coils are expected to stand out in Brazil in 2018, as demand for roof and construction materials is set to recover. The so-called galvalume, a steel product coated with both aluminium and zinc, is being increasingly used among roof and gutter producers to supply industrial clients, large constructions and infrastructure works. Apparent consumption of galvalume i...Read More
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 on Tuesday January 2. 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 year highs. The three-month nickel price rallied 3% at the close on Friday and is tr...Read More
Severstal, Russia's major steelmaker, has increased the output of pre-painted galvanized iron (PPGI) at its Cherepovets unit by 50% with the addition of a new production line.The new PPGI workshop, which took two years to complete, is able to produce 200,000 tonnes per year, thereby increasing output by more than half, the steelmaker said on Friday December 29."After MCW#3 [metal coating workshop...Read More
Italian steelmaker Ilva is set to continue production in January after local politicians suspended a precautionary request that the company's plant in Taranto, southern Italy, be closed because of opposition to proposed environmental reforms.In late November, Michele Emiliano, the governor of the southern Italian region of Puglia, and Rinaldo Melucci, the mayor of Taranto, appealed against the Ita...Read More
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
The latest bids, offers and deals in the global markets for steel billet, steel slab and bloom. Latest transactions: billetBilletIran, export, billet, traded at $509-510 per tonne cfr,...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 $565-570 per tonne cfr, theoretical weight, to the UAE.Turkey,...Read More
High-grade manganese ore prices edged lower on Friday December 29 as fresh customs data showed rising imports to China and silico-manganese futures prices looked weaker. Metal Bulletin's 44% manganese ore index, cif Tianjin dropped 5 cents to $6.88 per dry metric tonne unit (dmtu). Metal Bulletin's 37% manganese ore index, fob Port Elizabeth rolled over at $5.79 per dmtu, equivalent to $...Read More
GFG Alliance, the owner of international metals group Liberty House, has signed a binding agreement to acquire Glencore's 2 million-tpy Tahmoor metallurgical coking coal mine in New South Wales, Australia, it said on Tuesday January 2.The acquisition is expected to be concluded during the first quarter of 2018, following the completion of "customary conditions".Liberty House declined to disclose t...Read More
The Indian imported ferrous scrap market spent much of 2017 under pressure from new government regulations and the ability of Pakistani counterparts to pay higher prices.The Indian import ferrous scrap market spent much of 2017 under pressure from new government regulations and the ability of Pakistani counterparts to pay higher prices.The introduction of the goods and services tax (GST) in July,&...Read More
Iron ore prices jumped to almost $75 per tonne cfr China on Tuesday January 2 amid higher billet and port prices.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.71 per tonne cfr Qingdao Daily change: up by $2.10 per tonne Month-to-date average: $74.71 per tonne Metal Bulletin's 58%...Read More
The seaborne iron ore market received some bolstering on the first working day of 2018, with prices for port materials as well as billet rising as well. Key drivers In China's Tangshan, the price of billet rose 40 yuan ($6) per tonne over the weekend to 3,710 yuan per tonne. The price rose a further 20 yuan per tonne on Tuesday to 3,730 yuan per tonne.Premiums for index-linked January-delivery Cap...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction:Global Ore, Vale, 170,000 tonnes of 62%...Read More
The seaborne coking coal market is off to a sluggish start for 2018 with no new firm offers or bids heard while participants continued to sit on the sidelines. "The same offers have been lying there for over a month now but they are unable to spark any interest due to high prices. They will have to be lowered by $10-20 per tonne in order to get the trades done," a northern Chinese mill source told...Read More