News

  • US’ CRC imports fall by 26% in Feb m-o-m

    According to the preliminary Census Bureau data from the US Department of Commerce (USDOC), the US imported around 121,500 tons of cold-rolled flat products in February this year, falling by 26% compared to the previous month but hiking by 24% from the same month a year earlier. Among them, the i...
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  • LME aluminum rises back due to faded optimism on Russia-Ukraine negotiations

    The London Metal Exchange (LME)’s three-month aluminum price rebounded by 1.6% to US$3,492/ton on Wednesday by 0238 GMT, following a drop of nearly 5% on the previous day. The bounce was due to faded optimism about the negotiations between Russia and Ukraine. In the talks, Ukraine expressed its d...
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  • LME to raise default fund in Apr for possible surge in metal prices, including aluminum

    The London Metal Exchange (LME) will double its clearinghouse default fund from the current amount in April, from the current US$1.1 billion to US$2.075 billion, which was obviously to lower the risk of member default in the metals market with sharp increases in prices this year, such as the surg...
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  • European stainless steel sheet prices rising

    Affected by the LME nickel price fluctuation, European stainless steel deal prices have increased in the past week. After the first trading day in the LME on March 16, the nickel prices declined in a row in three days. However, European stainless steel mills didn’t offer their new prices du...
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  • Europe hikes local flats prices and continues active HRC and slab imports

    Last week, a lot of market players have been closely watching developments in the European flats market, where import demand for hot-rolled coils (HRC) and slabs has remained active, and both import and domestic prices have continued rising. Asia remains the key source for finished flat steel and...
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  • Home Aluminium down 4.7%, copper below $10,000, LME prices still in risk-off mode

    Aluminium down 4.7%, copper below $10,000, LME prices still in risk-off mode London Metal Exchange prices continued to consolidate lower on Monday March 14 with prolonged uncertainty about the consequences of the Russian war on Ukraine, following a volatile week to March 11,While there remains...
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  • European HRC prices continue to rise

    European hot-rolled coil prices increased further on Monday March 14 due to surging energy costs and tight supply, sources told Fastmarkets. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at €1,343.57 ($1,466.13) per tonne on Monday, up by €39.40 pe...
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  • Turkey imposes AD duties on HRC from EU, South Korea

    Turkey’s Ministry of Trade has determined that the EU and South Korea’s hot-rolled coil (HRC) producers/ exporters sold their products into the Turkish market at prices below the normal value during the period of review of one year ended September 30, 2020. The weighted-average dumping margin for...
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  • LME nickel prices risen for 5 consecutive days, surging to $28,000/ton level on Mar 4

    The LME nickel futures price surged by US$2,022/ton last Friday (March 4), closing at US$28,919/ton. The highest intraday hit US$30,295/ton, a new high since 2008. The spot price also soared by US$2,027, reaching US$29,609/ton. The nickel price has risen by US$4,558 in total last week, an increas...
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  • Base Metals Closed Mixed amid Rebounding US Dollar Index

    SHANGHAI, Feb 9 (SMM) – Shanghai Base metals closed mixed overnight after the US dollar index rebounded on the support of the surging US trade deficit. Their counterparts on LME performed similarly on Tuesday. LME copper dropped 0.3%, aluminium rose 1.72%, lead edged up 0.13%, and zinc fell...
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