The latest news and price moves to start the Asian day on Friday July 13.

Both Chinese cobalt tetroxide and sulfate spot prices edged down on Wednesday July 12 due to seasonal low consumption, with some refineries lowering their offer prices to secure sales despite high raw material costs.

Domestic steel prices in China are picking up strength after news of summer production cuts in the country’s steelmaking hub of Tangshan broke.

Good morning from Metal Bulletin’s office in Asia as we bring you the latest news and pricing stories on Thursday July 12.

Most base metals prices on the Shanghai Futures Exchange staged a recovery during Asian morning trading on Thursday July 12, with only lead weakening.

The latest news and price moves to start the Asian day on Thursday July 12.

Stainless steel prices in North America are likely to be supported by the US Section 232 steel import tariffs while, in Asia, Chinese production cuts on environmental grounds could support prices in the third quarter.

Already tight supply of reinforcing bar in the western United States has been restricted further by the implementation of Section 232 import tariffs on steel goods from Canada, Mexico and the European Union, according to market participants.

The Turkish Steel Producers Association (TCUD) has warned that Turkey may become an open market for dumped steel imports unless swift action is taken by the government.

Metal Bulletin started a weekly price assessment for stainless steel hot-rolled coil (HRC) on a $ per tonne cif East Asian ports basis on Wednesday July 11, while discontinuing its East Asian price for stainless steel hot-rolled sheet.