Import prices for steel billet in Southeast Asia and slab in the wider region encompassing East Asia continued to strengthen over the past week amid fewer offers and thin trading.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $565-575 per tonne cfr for the week ended Monday March 12, narrowing upward by $5 per tonne from $560-575 per tonne cfr a week earlier.Tr...Read More
The manganese ore price-trend outlook was firmly above $8 per dry metric tonne unit (dmtu) on Friday March 9, while producers reckon consumer interest will act as support, though there was a downbeat assessment among consumers. Ore producers say they are sold out through April But Chinese consumers signal otherwise Europe holds, awaits quarterly deals US markets held in rangesMajor manganese ore p...Read More
The Chinese vanadium market edged upward despite limited trading activity, while the European and US ferro-vanadium markets surged on significant supply concerns. Chinese vanadium suppliers raise offers despite limited activity European market surges on increasingly tight supply US ferro-vanadium market strengthens again, supply squeeze supportsChinese ferro-vanadium export prices continued to tre...Read More
Shorter lead times, smaller volumes and less onerous financing arrangements have seen portside iron ore trading grow in popularity over the past three-to-four years. Portside iron ore prices in China have largely remained at a discount to seaborne levels so far this year amid a slowdown in construction activity and high stock levels.According to estimates from a local information provider in China...Read More
The United Kingdom's trade department has said it will work with industry to try and convince the United States to exempt British products from the Section 232 import tariffs.The UK government will be assisting UK industry "as they work with US customers to build their cases for the exemption of individual products" from US president Donald Trump's Section 232 tariffs on imported steel and alumini...Read More
Vietnam's ferrous scrap imports dropped 17% year on year in February, according to the country's Ministry of Finance.The country imported 299,301 tonnes of scrap last month, compared with 359,807 tonnes a year earlier.February's imports were only about half of the 593,119 tonnes of scrap that reached Vietnam's shores in January.Japan and the United States were...Read More
UK ferrous scrap prices for monthly deliveries to consumers in March have rebounded, recovering losses from last month, with the prices of almost all grades up by ?30 per tonne amid firm demand, trade sources told Metal Bulletin this week.Only borings bucked the trend, with the price increasing by only ?25 per tonne.Trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and...Read More
Lead was the strongest performer on the London Metal Exchange on Tuesday March 13 - closing 2.2% higher.8,000 tonnes of lead was freshly cancelled in Antwerp this morning giving fresh support to prices while stocks tighten once again. LME warrants are also tightly held with one entity holding 30-39% of warrant positions."Lead is carrying out some much needed base-building after breaking below $2,4...Read More
Movements in flat steel import prices in the United Arab Emirates and Saudi Arabia varied by commodity this week but overall demand was still not strong, sources told Metal Bulletin on Tuesday March 13.UAEHot-rolled coil (HRC) was being offered to the UAE at $620-630 per tonne cfr from China and at $640-650 per tonne cfr from India, while buyers were bidding $620-630 per tonne cfr.Metal Bulletin's...Read More
The Turkish steel scrap market remained quiet on Tuesday March 13, with the mills in the country holding back from deep-sea scrap purchases since the end of last week.The mills stepped back from the market after the Section 232 tariffs were officially signed in the United States, imposing a 25% import duty on all steel products. The Turkish mills are now watching the market to see what direction i...Read More
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Price slide continues as SHFE stocks...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as s...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
The latest metal markets news and price moves to start the North American day on Tuesday March 13. Base metals prices on the London Metal Exchange edged higher during morning trading, with most metals recovering from Monday's lull."The LME complex is a mixed bag with zinc and nickel finding some [arbitrage]-related buying and aluminium [finding] some light consumer demand to help lift [prices] off...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Index futures were moved higher following release of the February Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a revised gain of 0.5% in January. Actual was an increase of 0.2%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of...Read More
Aluminium Aluminium continues to trade within a downtrend channel, but...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.P...Read More
SHANGHAI, Mar 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell to 89.91 following the weak performance of monthly average hourly earnings in the US for February.Base metals edged down from highs across the board. LME aluminium dropped over 1% to a three-month low as China’s winter production limitati...Read More
SHANGHAI, Mar 13 (SMM) – The Shanghai zinc spot market saw less trading today as the 0# common brand zinc traded at a discount of 90-80 yuan/mt, SMM learned.The Shuangyan brand traded at a discount of 30-20 yuan/mt, and 1# zinc traded at 24,980-25,060 yuan/mt at noon. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to ac...Read More