Rebar producers have increased their prices for Russia's Central Federal District, the major steel-consuming region in the country, citing a shortage of material in the market.But traders have said that the shortage has been created by the producers and does not accurately reflect the level of demand.Metal Bulletin's weekly assessment of the domestic price for Russian 12mm A500C rebar, including V...Read More
The latest news and price moves to start the North American day on Tuesday September 4.Base metals' prices on the London Metal Exchange were lower across the board during morning trading on Tuesday September 4, pressured by broad risk-aversion and volatile emerging markets amid Argentina's fresh austerity measures to stem the country's peso crisis.Falling 1.6% over the morning, the three-month nic...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday September 4.With the exception of lead, base metals prices on the Shanghai Futures Exchange were down during Asian morning trading on Tuesday, with rising trade tensions and disappointing economic data from China dampening market sentiment. Lead managed to buck the general weakness, wi...Read More
With alumina prices at extremely high levels and supply tightness showing no signs of easing, market participants are starting to question when downstream aluminium prices and premiums will begin to react. Limited spot availability following a force majeure at Hydro's Alunorte refinery and strikes by Alcoa workers at its Pinjarra refinery has been continuously pushing the alumina price h...Read More
Spot treatment charges (TCs) for zinc concentrate have risen to their highest level since October 2016 while the market continues to shift from deficit to balance.At the same time, Chinese tariffs on United States-origin metal concentrate shipments could disrupt flows of such material to the Asian nation. China announced early last month that it will apply an import tariff of 25% on zinc concentra...Read More
Nickel prices on the London Metal Exchange fell to their lowest point since January at the close of trading on Tuesday September 4, with prices down by 2.5% amid sharp drops in copper, zinc and lead ,while strength in the US dollar continued to put pressure on base metals.Three-month copper prices fell by 2.6% over the afternoon, continuing to edge away from the $6,000 per tonne support level, to...Read More
Comex copper prices fell to a multi-week low during morning trading on September 4 in the US, due to a stronger dollar and persistent fears that tariffs will spread globally.Copper for December settlement on the Comex division of the New York Mercantile Exchange tumbled 7.55 cents or 2.8% to $2.5955 per lb. Earlier this morning, the contract fell to $2.58 per lb, the lowest since August 15."After...Read More
Seaborne iron ore trading stayed thin on Tuesday September 4, while transaction activity at Chinese ports increased.Metal Bulletin 62% Fe Iron Ore Index: $66.62 per tonne cfr Qingdao, up by $0.57 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $65.65 per tonne cfr Qingdao, up by $0.57 per tonne.Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $71.95 per tonne cfr Qingdao, up by $0.20 p...Read More
Lithium producers' share prices have been under pressure all year and some investors are no doubt wondering whether that marks the end of the lithium boom?Metal Bulletin Research's forecast is for the lithium market to shift into a supply surplus this year and as such we have expected prices to fall, so it is understandable that producers' share prices are also suffering. But, with this just the d...Read More
The market for exports of steel billet from the Commonwealth of Independent States (CIS) was muted this week because producers have closed their order books for September and increased their offer prices for October-rolled material.Metal Bulletin's daily CIS export billet index was $476 per tonne fob on Tuesday September 4, unchanged day-on-day."The CIS mills have sold out September-rolled billet...Read More
The organization representing the US beer industry has called for the end of Section 232 tariffs on imports of aluminium from all countries and quotas on imports from Canada. In a letter to US Trade Representative Robert Lighthizer, the head of the Beer Institute said that granting exemptions or imposing quotas on Canada and Mexico are "not enough to solve the aluminum pricing irregularities curre...Read More
With alumina prices at extremely high levels and supply tightness showing no signs of easing, market participants are starting to question when downstream aluminium prices and premiums will begin to react. Limited spot availability following a force majeure at Hydro's Alunorte refinery and strikes by Alcoa workers at its Pinjarra refinery has been continuously pushing the alumina price h...Read More
Comex copper prices fell to a multi-week low during morning trading on September 4 in the US, due to a stronger dollar and persistent fears that tariffs will spread globally.Copper for December settlement on the Comex division of the New York Mercantile Exchange tumbled 7.55 cents or 2.8% to $2.5955 per lb. Earlier this morning, the contract fell to $2.58 per lb, the lowest since August 15."After...Read More
The latest news and price moves to start the North American day on Tuesday September 4.Base metals' prices on the London Metal Exchange were lower across the board during morning trading on Tuesday September 4, pressured by broad risk-aversion and volatile emerging markets amid Argentina's fresh austerity measures to stem the country's peso crisis.Falling 1.6% over the morning, the three-month nic...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday September 4*Copper $25.51 (174.58 yuan) Aluminium -$423.80 (-2,900.47 yuan) Zinc $140.16 (959.22 yuan) Nickel $290.82 (1,990.34 yuan) *Metal Bulletin calculates the physical arbitrage for import into China daily by using SHFE front-month and LME...Read More
Prices for domestically produced steel plate in the United States were unchanged, with market participants mostly reporting indicators of market strength and extended wait times at the mills.Sales volumes were reported to be brisk in August, and end-user segments have been active enough that customers are still willing to pay the highest prices for plate since 2011. When mills open up their order...Read More
ArcelorMittal's Veri??a long products mill in the Asturias region in north-west Spain is to supply India's Delhi Metro Rail Corp with 6,350 tonnes rail steel.The head-hardened rail is destined for the Mumbai Metro rail project, the steelmaker told Metal Bulletin on Tuesday September 4, and deliveries for project are expected to start in 2019, ArcelorMittal said.The Veri??a rail mill has...Read More
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Aluminium price hit highest level since...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
Prices for imported rebar in the United Arab Emirates increased during the week ending Tuesday September 4, even though demand continued to be limited, sources told Metal Bulletin.Market activity has failed to improve since the Islamic Eid al-Adha holiday at the end of August.Domestic rebarThe biggest steel producer in the UAE, Emirates Steel, was still offering rebar at 2,178 dirhams ($593) per t...Read More