May 2017

STEEL WEEK IN BRIEF: Iron ore prices below $60 per tonne, steel prices in China down, ArcelorMittal/Marcegaglia set to acquire Ilva...

Metal Bulletin reviews the major stories affecting the steel market over the past week.

IRON ORE PRICES: Benchmark index tumbles below $58 per tonne cfr China

Iron ore prices tumbled below the psychological threshold of $60 per tonne on Friday May 26 on the back of a lacklustre futures market ahead of a holiday in China.

Seaborne iron ore prices fall below $60 per tonne cfr ahead of holiday

Seaborne iron ore prices dipped below $60 per tonne cfr China on Friday May 26 amid weakness in the futures and steel markets ahead of a public holiday in the country that lasts till Tuesday.

METALS MORNING VIEW 26/05: Base metals edge higher, most look well placed

Base metals prices are little changed this morning, Friday May 26, with three-month prices on the London Metal Exchange up an average of 0.2%.

China AM: Iron ore futures flat despite softening physical prices

China’s iron ore futures ended morning trading largely unchanged on Friday May 26 against a backdrop of this week’s softening physical prices, even as the steel and coking coal contracts tumbled during the session.

Seaborne iron ore market cools further amid softening futures

The seaborne iron ore market quietened down even further on Thursday May 25 with the futures market continuing to post losses.

METALS MORNING VIEW 25/05: Metals prices generally firmer in light volume

Base metals prices are little changed this morning, Thursday May 25, with three-month zinc prices off 0.5% at $2,638 per tonne, copper is off 0.1% at $5,696 per tonne, while the rest are up between 0.1% to 0.2%.

China AM: Futures move in opposite directions

China’s ferrous futures had a mixed morning on Thursday May 25, with the hot rolled coil and coking coal contracts moving upwards while that for iron ore went the opposite direction.

Mexico’s Ahmsa shuts down iron ore mine due to labour conflict

Mexico’s largest integrated steelmaker, Altos Hornos de México (Ahmsa), has decided to shut down its iron ore mining operations in the country’s Durango state.