April 2018

STEEL WEEK IN BRIEF: Chinese steel prices recover on Friday, iron ore prices below $65 per tonne, Section 232 exemption requests...

Metal Bulletin reviews the major stories that have affected the steel market over the past week.

EUROPE STAINLESS STEEL: Grade-304 sheet base prices slide on continued import pressure

The base price assessments for flat stainless steel products in Europe narrowed downward by €10 per tonne this week due to continued pressure from cheap imports, sources told Metal Bulletin on Friday April 13.

China’s domestic stainless steel prices continue to weaken

China’s domestic stainless steel prices remained in a downward trend over the past week due to the high selling interest among stockists.

East Asian stainless steel market strengthens on rising cost

Import prices for stainless steel in East Asia rose over the past week with Chinese suppliers maintaining their high offers amid costlier nickel, although there was no considerable uptick in demand.

Aperam to acquire special alloys producer VDM Metals for $540m

Stainless steel producer Aperam has purchased 100% of the shares in Germany-based special alloys producer VDM Metals for €438 million ($540 million), the companies announced on Wednesday April 11.

European molybdenum markets drop in line with demand

European spot prices for molybdic oxide and ferro-molybdenum have dropped in line with demand on the spot market, with dealers expecting further price losses until renewed demand is triggered.

GLOBAL STAINLESS OUTLOOK: Asian Q2 outlook bearish; Section 232 to support US prices

Stainless steel prices in Asia are likely to remain bearish on expectations of continued low demand in the second quarter of the year, while prices in North America are likely to be supported by the Section 232 import tariffs in the United States.

Japan predicts modest increase in steel demand in April-June quarter

Japan's Ministry of Economy, Trade & Industry expects demand for steel to increase by 1.8% year on year in the April-June period - the first quarter of the country's 2018 financial year.

GLOBAL VANADIUM WRAP: European FeV prices slide on traders profit-taking; V2O5 prices up on supply concerns

The European ferro-vanadium market retreated last week while traders sold cheaper in order to take profits amid quieting spot demand.

ASIA STEEL FOCUS: Taiwanese ban on Chinese steel could disrupt regional trade flow

A potential ban on Chinese steel imports by Taiwan could disrupt trade flows in Asia, with the stainless steel segment set to be hardest hit, market sources told Metal Bulletin this week.