Some producers of hot-dipped galvanized coil (HDG) in Turkey reduced their prices this week amid weak demand in the domestic and export markets.Domestic pricesOne Northern Turkish producer was offering 0.50mm gauge HDG at $830 per tonne ex-works this week, while a second producer in the same region was offering similar product at $890-900 per tonne ex-works.A Southern Turkish producer was offering...Read More
Some flat steel prices in Turkey's domestic and import markets went down slightly this week, although export prices were unchanged despite weak demand, market participants told Metal Bulletin on Friday March 23.Local producers were fully booked until June.Domestic pricesHot-rolled coil (HRC) producers in Turkey have been offering material at $665-670 per tonne ex-works for late-May and early-June...Read More
China's hot-rolled coil prices tumbled on Friday March 23 along with the paper market amid mounting trade tensions between the country and the United States.DomesticEastern China (Shanghai): 3,760-3,800 yuan ($594-600) per tonne, down 120 yuan per tonneNorthern China (Tianjin): 3,710-3,740 yuan per tonne, down 160 yuan per tonneHRC futures slumped during Thursday night's trading session with risk...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Increasing trade tensions between the United States and China had significant repercussions on the global steel markets on Friday March 23.Ferrous futures in China plunged during the morning trading session, with both countries announcing tariffs on each other's products.China has announced plans to imp...Read More
Members of the World Trade Organization (WTO) have voiced concerns about the decision by the United States to impose tariffs on imports of steel and aluminium, and the effect these may have on the global trading system.More than 40 members, including the 28 nations of the EU, took the floor at the WTO's Council on Trade in Goods on Friday March 23 to speak against the measures taken by the US.The...Read More
The light iron scrap market in the United Kingdom is unchanged this week, extending a steady trend from the previous week, although signs are emerging that prices may fall in the near term.The market has been steady for two weeks in a row after four weeks of price rises stemming from strengthening demand to key export markets such as Turkey and the Indian subcontinent. Metal Bulletin's price asses...Read More
The uncertainty created by the announcement of import tariffs under Section 232 in the United States kept Turkish steel mills out of the deep-sea scrap markets during the working week from Monday March 19 to Friday March 23, although strong demand in the US domestic market kept sentiment positive.But the poor demand for material sent Taiwanese import prices downward.Turkey importsThe Turkish steel...Read More
The light iron scrap market in the United Kingdom is unchanged this week, extending a steady trend from the previous week, although signs are emerging that prices may fall in the near term.The market has been steady for two weeks in a row after four weeks of price rises stemming from strengthening demand to key export markets such as Turkey and the Indian subcontinent. Metal Bulletin's price asses...Read More
The market for containerized ferrous scrap imports into India showed signs of softening this week amid poor scrap demand and weaker local steel prices, sources told Metal Bulletin on Friday March 23.Market participants shied away from buying imports at a time of uncertainty in the steel markets after no scrap deals were heard in the Turkish deep sea scrap market for the second consecutive week and...Read More
Prices for Brazil-origin steel slab remained unchanged this week, but the market expects there to be increases after the country was temporarily exempted from tariffs related to the Section 232 investigation on steel imports in the United States.Metal Bulletin's weekly assessment of Brazil's slab export prices was $580-590 per tonne fob on Friday March 23, stable from the previous week.Most Brazil...Read More
China's rebar prices fell sharply in both the domestic and export markets on Friday March 23 after futures plunged in response to the country's brewing trade war with the United States. Domestic Eastern China (Shanghai): 3,500-3,580 yuan ($553-566) per tonne, down 110-120 yuan per tonne Northern China (Beijing): 3,750-3,780 yuan per tonne, down 80 yuan per tonne US President Donald Trump unveiled...Read More
The base price assessments for flat and long stainless steel products in Europe have gone unchanged this week in a slow market, sources told Metal Bulletin on Friday March 23.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was stable over the week at ?,?1,050-1,130 ($1,295-1,393) per tonne delivered in Northern Europe on Friday."Market activity w...Read More
Ferrous futures in China plunged during the morning trading session amid trade tensions between the country and the United States, with both announcing tariffs on each other's products.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,406 yuan per tonne, down 79 yuan per tonne May hot-rolled coil: 3,554 yuan per tonne, down 64 yuan per tonne Dalian Commodity Exchange...Read More
Domestic stainless steel prices in China remained in a downward trend over the past week amid a softening nickel market.Metal Bulletin's assessment of prices for benchmark 304 stainless CRC in the major market of Wuxi was 14,300-15,100 yuan ($2,259-2,386) per tonne including VAT for the week ended Thursday March 22, down 200 yuan per tonne from a week earlier....Read More
China has announced plans to impose tariffs on approximately $3 billion worth of United States-origin goods, including seamless steel pipes and aluminium scrap.China said it was considering measures to "balance out the losses caused to Chinese interests" by the US' imposition of blanket tariffs - 25% on steel imports, 10% on aluminium imports - that US President Donald Trump announced following th...Read More
Prices for Brazil-origin steel slab remained unchanged this week, but the market expects there to be increases after the country was temporarily exempted from tariffs related to the Section 232 investigation on steel imports in the United States.Metal Bulletin's weekly assessment of Brazil's slab export prices was $580-590 per tonne fob on Friday March 23, stable from the previous week.Most Brazil...Read More
SHANGHAI, Mar 23 (SMM) – Base metals fell across the board as trade tensions intensified. SHFE nickel led a slump of 3%, tin lost close to 2% and copper fell 1.7%. Lead and aluminium slid over 1%, while zinc dipped.The ferrous complex tumbled as rebar declined over 7%, iron ore fell 6% and hot-rolled coil lost 5%. Coke dropped close to 6%, while coking coal slid over 4%.Copper: SHFE copper s...Read More
SHANGHAI, Mar 23 (SMM) – Base metals fell across the board as trade tensions intensified. SHFE nickel led a slump of 3%, tin lost close to 2% and copper fell 1.7%. Lead and aluminium slid over 1%, while zinc dipped.The ferrous complex tumbled as rebar declined over 7%, iron ore fell 6% and hot-rolled coil lost 5%. Coke dropped close to 6%, while coking coal slid over 4%.Copper: SHFE copper s...Read More
The European steel association Eurofer is calling for quota-based safeguard trade measures even though the EU has been temporary exempted from Section 232 import tariffs in the United States.The US will delay imposing steel and aluminium tariffs - of 25% and 10%, respectively - against several countries while negotiations to exempt them more permanently take place.The EU was among t...Read More
SHANGHAI, Mar 23 (SMM) – Base metals fell across the board as trade tensions intensified. SHFE nickel led a slump of 3%, tin lost close to 2% and copper fell 1.7%. Lead and aluminium slid over 1%, while zinc dipped.The ferrous complex tumbled as rebar declined over 7%, iron ore fell 6% and hot-rolled coil lost 5%. Coke dropped close to 6%, while coking coal slid over 4%.Copper: SHFE copper s...Read More