A steady increase in ferrous scrap demand to key destinations such as Turkey and the Indian subcontinent from Europe has pulled up prices for light iron, grade-5C steel scrap in the United Kingdom this week, sources told Metal Bulletin on Friday March 9.The UK light iron scrap market has now moved up for four weeks in a row.Metal Bulletin's price assessment for UK grade-5C ferrous scrap on an inte...Read More
Prices for shredded scrap imported in containers into India have increased for the fifth week running, supported by good demand and robust international scrap markets, sources told Metal Bulletin on Friday March 9.But certain market sources said that the market could stop rising over the next seven days, with Indian finished steel prices struggling amid a drop in Chinese rebar prices and worries o...Read More
Export prices for CIS-origin pig iron have gone up again amid further growth in the scrap and flat steel products markets, Metal Bulletin has heard.Metal Bulletin's export price assessment on Thursday March 8 for high-manganese pig iron from the CIS region was $350-375 per tonne fob Black Sea, widening upward by $10 per tonne week on week.A deal was heard in Turkey for Ukraine-origin pig iron at $...Read More
Turkish scrap import prices inched lower on Friday March 9 on news of a fresh trade. A steel mill in the Marmara region of Turkey booked a Baltic Sea cargo late on Thursday March 8, comprising 28,000 tonnes of HMS 1&2 (80:20) at $375.25 per tonne and 7,000 tonnes of bonus at $385.75 per tonne cfr. Metal Bulletin's daily index for Northern European HMS 1&2 (80:20)...Read More
Export prices for Brazilian pig iron were unchanged this week, as suppliers refused to accept low-priced bids."US buyers tried to book some volumes at cheap prices, but came back home empty-handed," a Brazil-based source said. "They asked for a very low price, so we didn't close a deal," a second market participant said. "Also, demand in the Brazilian domestic market is quite good and we are able...Read More
Physical iron ore prices fell below the $70-per-tonne-cfr mark on Friday March 9 amid persistent losses in China's steel and futures markets.Key driversChina's ferrous futures recorded across-the-board losses for a third day. The benchmark iron ore contract continued to be the worst performer, with a 5.2% decline in comparison with the settlement price on Thursday. The contract closed at a 3.5-mon...Read More
Prices in the seaborne coking coal market gained more downward momentum on Friday March 9, with the number of offers continuing to outpace bids. "Sellers have visibly softened their attitude toward the prices of their cargoes since it is difficult to prop them up based on just the sole factor of the weather," an East Asian end-user source said. Although there are still "two to three more weeks to...Read More
The three-month nickel price on the London Metal Exchange recovered $100 per tonne in morning trading on Friday March 9, supported by a large cancellation of stocks at LME-listed warehouses.Some 29,244 tonnes of nickel was freshly cancelled - with the majority of it in Johor - which helped push the three-month price higher after two days of declines. "Nickel has a rather bullish fundamental backdr...Read More
Deliverable copper stocks at Shanghai Futures Exchange-approved warehouses rose for a sixth consecutive week in the week to Friday March 9, while nickel and tin inventories declined.Copper stocks increased 7,808 tonnes to 268,095 tonnes this week, up 3% from the 260,287 tonnes recorded on March 2. Stocks are now up 67% since the beginning of the year. Zhongchu Wusong warehouse in Shanghai saw the...Read More
China's hot-rolled coil prices fell further ahead of the weekend after the paper market tumbled.DomesticEastern China (Shanghai): 3,930-3,960 yuan ($620-625) per tonne, down by 70 yuan per tonneNorthern China (Tianjin): 3,890-3,910 yuan per tonne, down by 50 yuan per tonneChina's ferrous futures plunged with the outlook for the market becoming more bearish after United States President Donald Trum...Read More
Daniel Hisshion has left his role as Asian sales director and strategic supply director at 5N Plus, Metal Bulletin has learned.His last day at the company was March 7, 2018. At 5N Plus, Hisshion was in charge of raw material supply of selenium, tellurium, bismuth and indium, and the...Read More
An overview of China's minor metals markets in the week of March 5-9 and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday March 9:Minor metals Bismuth MB free market, $/lb: $5.10-5.40 per lb from $5.20-5.40 Bismuth MB China domestic, yuan/tonne: 70,500-71,000 yuan per tonne from 71,000-72,000 yuan Cobalt MB free market high grade,...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Base metals traded on the London Metal Exchange are for the most part weaker this morning, Friday March 9. The exception is nickel, where prices are up by 0.2%, while the rest are lower: Zinc (-1%), tin (-0.9%), aluminium (-0.5%), lead (-0.3%) and copper prices are off by 0.5% at $6,792 per tonne.Volume has been high with 13,023 lots traded as of 07.10am London time - high volume and weak prices d...Read More
Domestic stainless steel prices in China have fallen further over the past week following losses in the nickel market. Metal Bulletin's assessment of prices for benchmark 304 stainless CRC in the major market of Wuxi was 14,600-15,300 yuan ($2,304-2,415) per tonne including VAT for the week ended Thursday March 8, against 14,700-15,300 yuan per tonne from a week earlier. Nickel prices on the Londo...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday March 9:Aluminium scrap Floated Frag: ?,?1,270-1,300 per tonne from ?,?1,280-1,310...Read More
The latest bids, offers and deals in the global markets for ferrous scrap products. ...Read More
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Saddle up and hold on to your 10-gallon hat. There is a new tariff in town, and he’s not afraid of a little trade war. As expected, this afternoon President Trump made good on his pledge to implement strong tariffs on both steel and aluminum. Although it will exclude both Canada and Mexico, it will seek to target significant trade disparities between the United States and some of its trading...Read More