The base metals are for the most part weaker this morning, Friday September 22, the exceptions are tin that is up by 0.2% and zinc that is little changed, while the rest are down by an average of 1.1%. Losses are fairly tightly grouped with prices off between 0.9% and 1.5%. Three-month copper prices are down by 0.9% at $6,397 per tonne.

Domestic prices for vanadium products in China in mid-August were showing little change since mid- to late-July this year, with alloy suppliers struggling to hold prices firm amid comparatively stable prices for vanadium pentoxide (V2O5).

China’s crude steel output rebounded in early August after falling steadily since late June, as a recovery in steel prices in the latter part of last month led producers to up production.

China’s steel purchasing managers’ index (PMI) hit a 16-month low in May amid falling spot prices.

The latest news and price moves to start the Asian day on Friday June 15.

The Shanghai Futures Exchange has revised its futures contract for hot rolled coil, in a bid to enhance market participation in the flagging paper contract.

Shenzhen Stock Exchange-listed Jiangsu Shagang, the listed arm of China’s largest privately-owned steelmaker Shagang Group, predicted a rise in its net profit for the first half of 2014.

Steel billet prices in the global markets showed mixed dynamics in the week from Monday June 4 to Friday June 8, due to weak trading activity in Asia and strengthening sentiment in Turkey and the CIS region.

Latin America editor Ana Paula Camargo reviews the main global steel market news covered by Metal Bulletin over the past week.

Steel billet prices had another strong week as supplies of China- and CIS-origin material remained scarce in most markets and scrap costs continued to be strong.