SHANGHAI, May 28 (SMM) – Downstream buyers held back from zinc purchases in the spot market in Shanghai on Monday May 28 as offer prices rose over the weekend, SMM learned.While premiums were unchanged from last Friday, offers were higher as the SHFE 1806 zinc contract gained some 300 yuan/mt to close at 24,065 yuan/mt this morning. In Shanghai, #0 zinc mostly traded at 24,120-24,150 yu...Read More
SHANGHAI, May 28 (SMM) – Copper: LME copper dipped below the daily moving average to a low of $6,840/mt last Friday night as the US dollar gained. It is likely to dip on a stronger US dollar as an US-North Korea meeting is likely to be held as scheduled. The SHFE 1807 contract also fell last Friday with pressure from the 60-day moving average. It is expected to trade at 51,250-51,600 yu...Read More
Knafelc, 50, was referring to the global integrated fertiliser materials company's investment in a true talent development strategy."It's shocking to me thinking back five years how little we had in place - we had lots of good things happening but we didn't have a strategic plan that had elements of commonality across the organisation," he said.Knafelc made the comments as part of a wide-ranging i...Read More
Turkish domestic auto bundle scrap prices pushed up this week, while ship scrap prices fell due to the weakness of the Turkish lira compared with the US dollar, sources told Metal Bulletin on Monday May 28.Turkish domestic auto bundle scrap prices have risen, while the ship scrap prices were falling due to the weak lira, sources said on Monday May 28.Steel mills in Turkey raised their bu...Read More
Trading activity in the physical iron ore market was subdued on Monday May 28 amid softening prices.Metal Bulletin 62% Fe Iron Ore Index: $63.89 per tonne cfr Qingdao, down by $0.05 per tonneMetal Bulletin 58% Fe Premium Index: $53.07 per tonne cfr Qingdao, up by $0.35 per tonneMetal Bulletin 65% Fe Iron Ore Index: $83 per tonne cfr Qingdao, down by $0.40 per tonneMetal Bulletin 62% Fe China Port...Read More
China's domestic rebar prices were flat on Monday May 28 on stable trading activity.Domestic Eastern China (Shanghai): 3,830-3,880 yuan ($599-607) per tonne, unchanged Northern China (Beijing): 3,850-3,870 yuan per tonne, unchanged Buyers booked rebar actively in the morning due to the high futures prices in the first hour of trading. But their procurement rates fell in the afternoon after futures...Read More
Buyers in the seaborne coking coal spot market are still resisting offers for premium products above $195 per tonne cfr China, sources told Metal Bulletin on Monday May 28. A cargo of second-tier hard coking coal with 8.2% ash and 23% volatile matter was heard to have traded at $170 per tonne fob Australia. But cargoes of premium hard coking coal that were still being offered...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Monday May 28. Zinc prices rose on the SHFE today, driven by falling inventories.Check Metal Bulletin's live futures report here. SHFE snapshot at 11:14 am Shanghai timeMost-traded SHFE contracts Price (yuan per tonne)Change since previous session's close (yuan)Copper (June)51,480-10Aluminium (...Read More
Trading activity in the physical iron ore market was subdued on Monday May 28 amid softening prices.Metal Bulletin 62% Fe Iron Ore Index: $63.89 per tonne cfr Qingdao, down by $0.05 per tonneMetal Bulletin 58% Fe Premium Index: $53.07 per tonne cfr Qingdao, up by $0.35 per tonneMetal Bulletin 65% Fe Iron Ore Index: $83 per tonne cfr Qingdao, down by $0.40 per tonneMetal Bulletin 62% Fe China Port...Read More
China's domestic rebar prices were flat on Monday May 28 on stable trading activity.Domestic Eastern China (Shanghai): 3,830-3,880 yuan ($599-607) per tonne, unchanged Northern China (Beijing): 3,850-3,870 yuan per tonne, unchanged Buyers booked rebar actively in the morning due to the high futures prices in the first hour of trading. But their procurement rates fell in the afternoon after futures...Read More
Buyers in the seaborne coking coal spot market are still resisting offers for premium products above $195 per tonne cfr China, sources told Metal Bulletin on Monday May 28. A cargo of second-tier hard coking coal with 8.2% ash and 23% volatile matter was heard to have traded at $170 per tonne fob Australia. But cargoes of premium hard coking coal that were still being offered...Read More
Import prices for rebar in Singapore decreased over the past week with sellers lowering their offers on weakening market fundamentals.Major Chinese mills had decreased their offers to $555-565 per tonne cfr Singapore from $575-580 per tonne cfr Singapore a week earlier.Turkish mill cargoes were being offered at $555 per tonne cfr Singapore. These offers were also heard in Hong Kong.Forward cargoes...Read More
Import prices for re-rolling-grade hot-rolled coil sold into Vietnam tightened downward over the past week with distressed cargoes dampening spot price negotiations and traders becoming more willing to lower their offers.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 $600-605 per ton...Read More
Russian aluminium producer Rusal has offered the light metal for July-Septmeber delivery to main Japanese ports (MJP) on cif basis at $160 per tonne premium over London Metal Exchangecash price, according to six trader sources familiar with the matter. The offer is 24% higher than the second quarter MJP premium of $129 per tonne. "We have a tiny business with Rusal, we would have to disc...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Monday May 28. Zinc prices rose on the SHFE today, driven by falling inventories.Check Metal Bulletin's live futures report here. SHFE snapshot at 11:14 am Shanghai timeMost-traded SHFE contracts Price (yuan per tonne)Change since previous session's close (yuan)Copper (June)51,480-10Aluminium (...Read More
China's domestic hot-rolled coil prices maintained their upward trend on Monday May 28 on gains in the futures market. Domestic Eastern China (Shanghai): 4,240-4,260 yuan ($663-666) per tonne, up 30 yuan per tonne Northern China (Tianjin): 4,090-4,110 yuan per tonne, up 10 yuan per tonne Rising futures stimulated buying interest during the day and pushed up spot prices. End-users kept their procur...Read More
Taiwan's China Steel Corporation (CSC) has increased its offers for the third quarter of this year due to a bullish outlook for the period."Taiwan has benefited from favorable domestic industrial production as well as overseas export markets. The economy is also expected to continue doing well in the second-half of the year," CSC said.This has been supported by market fundamentals in northeast Asi...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...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 transaction: HRCHot-rolled coil East China, domestic,...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More