The United States' decision to impose Section 232 tariffs of 25% on steel imports is the "best worst-case scenario", European long steel exporters told Metal Bulletin this week.The US imposed Section 232 tariffs of 25% on steel imports and 10% on aluminium imports from Canada, Mexico and the European Union with effect from 12.01am on Friday June 1. "We are happier with a 25% tariff than a quo...Read More
The volatility in global copper stocks this year has benefited trading volumes across both the Chicago Mercantile Exchange (CME) and Shanghai Futures Exchange, while the London Metal Exchange's inventory has fluctuated widely and dropped to a four-month low this week.LME copper stocks fell to 283,375 tonnes on Wednesday May 30, the lowest since January 24. Stocks have rebounded sharply to 311,525...Read More
Steel price trends and market fundamentals in China set the heartbeat for the international spot market. The country is not just the world's biggest steel producer, but also the biggest exporter globally. As such, any price and macroeconomic changes it experiences have a ripple effect on the rest of the world.According to the World Steel Association's (Worldsteel) 2018 edition of World Steel in Fi...Read More
Nickel prices on the London Metal Exchange finished 2.4% higher at the close of trading on Friday June 1, recording gains of 5% on the week amid a broadly stronger base metals complex. The metal has recorded 19 straight days of inventory decline following disruptions to Chinese stainless steel supply due to environmental concerns, leaving total stocks at 290,604 tonnes, their lowest since June 201...Read More
The volatility in global copper stocks this year has benefited trading volumes across both the Chicago Mercantile Exchange (CME) and Shanghai Futures Exchange, while the London Metal Exchange's inventory has fluctuated widely and dropped to a four-month low this week.LME copper stocks fell to 283,375 tonnes on Wednesday May 30, the lowest since January 24. Stocks have rebounded sharply to 311,525...Read More
Comex copper prices edged higher on Friday June 1, though the slight uptick is unimpressive compared with the gains seen in other base metals this week. Copper for July settlement on the Comex division of the New York Mercantile Exchange ticked up 0.8%, or 2.5 cents per lb, to $3.09 per lb. "LME copper has underperformed its complex notably this week. While copper is little changed since Monday, t...Read More
Nickel prices on the London Metal Exchange finished 2.4% higher at the close of trading on Friday June 1, recording gains of 5% on the week amid a broadly stronger base metals complex. The metal has recorded 19 straight days of inventory decline following disruptions to Chinese stainless steel supply due to environmental concerns, leaving total stocks at 290,604 tonnes, their lowest since June 201...Read More
Global ferrous scrap prices continued to soften during the week ended Friday June 1, with economic uncertainty in Turkey exerting downward pressure on spot trading values.The imposition by the United States of Section 232 import tariffs at 25% on steel from Canada, Mexico and the EU also damped market sentiment.Buyers in other parts of the world waited for better prices, causing negotiation activi...Read More
The recycling of lithium-ion batteries is critical in a growing electric vehicle (EV) battery market, although advancements are still necessary in the recycling arena, according to an industry expert. The need "is only going to increase on this side of [the] primary material impact, particularly as it comes to nickel," Ajay Kochhar, president and chief executive officer of Li-Cycle Corp, told atte...Read More
The US Treasury Department has extended the deadline for investors to divest their holdings in sanctioned Russian companies, allowing them until 12:01 am August 5 to offload their debt, equity or other holdings. The Treasury's Office of Foreign Assets Control (OFAC) issued its General License 13B on May 31, moving the deadline from June 6 to August 5. The license applies to EN+ Group Plc,...Read More
Nickel is likely to remain the material of choice in electric vehicle (EV) batteries, but automobile manufacturers could be forced to consider alternatives if prices rise too high, according to an industry expert. "The auto industry won't sit there and take high prices," Ken Hoffman, senior expert at McKinsey & Co's basic materials practice, told attendees at Metal Bulletin's sixth International N...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
The volatility in global copper stocks this year has benefited trading volumes across both the Chicago Mercantile Exchange (CME) and Shanghai Futures Exchange, while the London Metal Exchange's inventory has fluctuated widely and dropped to a four-month low this week.LME copper stocks fell to 283,375 tonnes on Wednesday May 30, the lowest since January 24. Stocks have rebounded sharply to 311,525...Read More
Blister copper refining charges (RCs) in China edged down in May as spot tonnages were sought following the recent shutdown of several domestic primary smelters and a continued fall in copper scrap imports. Metal Bulletin assessed RCs for 98-99% blister copper on a cif China basis at $210-230 per tonne on Thursday May 31, down $15 month on month, with several spot deals of African tonnages se...Read More
Comex copper prices edged higher on Friday June 1, though the slight uptick is unimpressive compared with the gains seen in other base metals this week. Copper for July settlement on the Comex division of the New York Mercantile Exchange ticked up 0.8%, or 2.5 cents per lb, to $3.09 per lb. "LME copper has underperformed its complex notably this week. While copper is little changed since Monday, t...Read More
The United States' decision to impose Section 232 tariffs of 25% on steel imports is the "best worst-case scenario", European long steel exporters told Metal Bulletin this week.The US imposed Section 232 tariffs of 25% on steel imports and 10% on aluminium imports from Canada, Mexico and the European Union with effect from 12.01am on Friday June 1. "We are happier with a 25% tariff than a quo...Read More
Coated coil prices in Turkey were stable this week, with demand remaining poor in both the local and export markets, sources told Metal Bulletin on Friday June 1. Domestic prices One Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $745-750 per tonne ex-works this week, while no new price was heard from the second producer, who offered similar product at $770-780 p...Read More
Flat steel prices in Turkey's domestic, import and export markets have been mostly stable this week, with demand remaining limited, market participants told Metal Bulletin on Friday June 1.Some domestic producers are still accepting orders for July production, while others have closed their order books for July but have not yet started to offer August production.Domestic pricesHot-rolled coil (HRC...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGIHot-rolled coil...Read More
South America's flat steel import prices were unchanged for another week as the effects of a trucker's strike in Brazil minimized any market movement for the last days of May.In Brazil, the import market for flat steel goods came to a halt this week due to the devaluation of the local currency, as well as the effects of the continuing truck drivers' strike, according to a local trader."Port facili...Read More