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
Indian import prices for commercial-grade hot-rolled coil fell by at least $15 per tonne after a consortium of Indian importers booked Japanese HRC at $670-675 per tonne cfr Mumbai for May-June shipment. Indian import prices for commercial-grade hot-rolled coil fell by at least $15 per tonne as a consortium of Indian importers booked Japanese HRC at $670-675 per tonne cfr Mumbai for May-June...Read More
Domestic prices for rebar in Poland have been stable this week despite weak demand, sources told Metal Bulletin on Friday March 23.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was stable over the week at 2,300-2,350 zloty ($671-686) per tonne ex-works on March 23.The assessment reflected offers reported at 2,340-2,360 zloty per tonne cpt, with average tran...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday March 23:Noble alloys Molybdenum US canned molybdic oxide, $/Ib $12.70-13.00 per Ib from $12.90-13.10 Ferro-molybdenum US 65-70% Mo, $/Ib: $14.00-14.30 per Ib from $14.00-14.50 Ferro-tungsten basis 75% W Rotterdam duty unpaid, $/kg: $41.80-42.80 per kg from $42.00-43.00 Ferro-vanadium basis 78% min, free deliv...Read More
The Turkish scrap import market has ended a second consecutive week with no deep-sea trading, sources said on Friday March 23.There have been no deep-sea scrap trades done since the mills in the country stepped back from the market on March 9, when the United States applied a 25% duty on imports of steel products following its Section 232 investigation.Market participants were still expecting the...Read More
The UK inter-merchant price range for austenitic alloy steel products went unchanged this week despite the fall in the price of nickel, sources said on Friday March 23."Prices have not changed this week, although the nickel prices decreased," a trader said."Scrap prices are most likely to decrease next week following the drop in nickel costs. But at the moment it is hard to say what the decline wi...Read More
Export prices for Brazilian pig iron have risen again this week, amid fresh activity and positive market conditions.A cargo produced in Brazil's south-eastern Minas Gerais state was reportedly sold for more than $385 per tonne fob this week for May shipment, according to local sources.Offers for similar material are now estimated at $390 per tonne fob, with shipments scheduled for June.At least on...Read More
China's coke export prices have fallen amid the country's weakening ferrous markets with demand not picking up as strongly as expected in the spring season.Metal Bulletin's assessment of export prices for Chinese coke with 65% coke strength after reaction (CSR), 12.5% ash, and in physical sizes of 30-90mm, was $340-350 per tonne fob China for the week ended Tuesday March 20.This is down $5-10 per...Read More
Iron ore prices fell below $65 per tonne cfr China on Friday March 23 after China's ferrous futures tumbled amid trade tensions between the country and the United States.Metal Bulletin's 62% Fe Iron Ore Index Today: $64.58 per tonne cfr QingdaoDaily change: down by $2.60 per tonneMonth-to-date average: $71.57 per tonneMetal Bulletin's 58% Fe Premium Index Today: $52.17 per tonne cfr QingdaoDaily c...Read More
Iron ore prices tumbled on Friday March 23 with China's ferrous market experiencing an across-the-board retreat amid concerns over a looming trade war between the country and the United States.Key driversChina's Ministry of Commerce is considering imposing a 15% tariff on a list of US products that includes steel pipe and a 25% tariff on a second list that includes aluminium products, it said on F...Read More
Seaborne coking coal prices fell further on Friday March 23, with ferrous futures in China tumbling during the day amid trade tensions between the country and the United States. On the Dalian Commodity Exchange, the most-traded May coking coal futures contract closed at 1,230 yuan ($194.30) per tonne at the end of the day, down 45.50 yuan per tonne from a day earlier. The most-traded May coke cont...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
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
The US International Trade Commission (ITC) has voted that silicon metal imports from Australia, Brazil, Norway and Kazakhstan do not materially harm the US silicon industry. As a result, the Department of Commerce will not issue anti-dumping or countervailing duties on silicon metal shipments in the United States. The Department of Commerce had issued its final determinations in the trade ca...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday March 23:Antimony MB free market regulus, $/tonne: $8,500-8,775 per tonne from $8,650-8,800 Antimony MMTA standard grade II, $/tonne: $8,500-8,675 per tonne from $8,550-8,750 Bismuth MB China domestic, yuan/tonne: 69,000-70,000 yuan per tonne from 70,500-71,000 yuan Cadmium MB free market min 99.95%, cents/lb: 155-160 per lb from 1...Read More
An overview of China's minor metals markets in the week of March 19-23 and the reasons for any price moves.Read More
Aluminum Corp of China's (Chalco) gallium plant in the Chinese province of Guangxi will suspend operations for planned maintenance in April to mid-May, market sources told Metal Bulletin."The stoppage [in Guangxi] is for normal facility maintenance and will remove three to four tonnes of gallium from the physical market [during the period]," according to one market source. Chalco, which is the lar...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