Turkish rebar producers have fixed their domestic rebar prices in US dollars because of the significant loss in value of the national currency, the lira, sources told Metal Bulletin on Thursday August 2.The lira was trading at TRY100 to $20.20 on August 2, down from TRY100 to $20.64 on July 26 and $21.78 on July 2, according to exchange rate website...Read More
Domestic long steel prices in EU markets are expected to remain around current high levels over the August holiday period, although mills could push through further price rises in September, market sources told Metal Bulletin this week."Customers are starting to go on holiday. We haven't heard new inquiries but we expect the [rebar] price to be maintained, and then perhaps to rise in September," a...Read More
Brazilian steelmaker Gerdau has concluded the sale of its two hydroelectric plants in the country's mid-western Goi??s state to mining company Kinross Brasil Minera????o.The Ca??a and Barra dos Coqueiros power units started operations in 2010 and have a total capacity for 155MW. They were sold for a total of 835 million Reais ($222 million).The transaction was first announced in February this year...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob ChinaEurope- APT, cif Rotterdam- Ferro-tungsten, in-warehouse Rotterdam...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade. Futures are responding to news that the proposed rate for China's tariffs on $200 billion of U.S. products has increased to 25% from 10%.Index futures were virtually unchanged following release of the Weekly Jobless Claims report. Consensus was an increase to 220,000 from 217,000 last w...Read More
Metal Bulletin will launch a weekly Chinese domestic ex-works battery-grade lithium carbonate index on Thursday August 2 to run in parallel to the existing price assessment, following a successful market consultation. Metal Bulletin launched a market consultation in May to migrate its existing price assessment for battery-grade lithium carbonate, ex-works China, to an index. Despite the overw...Read More
Molybdic oxide and ferro-molybdenum prices in Europe have strengthened to three-month peaks in trading so far this week, with tightness - and rising prices - in Asia prompting renewed demand in the West.Prices of both have steadily run higher in Europe since the start of July after they had dropped through June. And with higher offer prices already being reported in Europe against apparent tightne...Read More
Key data from Metal Bulletin's Wednesday August 1 pricing session in ChinaMolybdenum concentrate MB Chinese free market, 45% Mo, in-warehouse China, RMB/mtu Key drivers:- Solid market fundamentals have lifted molybdenum concentrate prices in domestic China, leading prices to rise by more than 8%- Last week alone, prices rose more than 3% (1,590 yuan ($233.29) per metric tonne unit...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday August 2. Base metals prices on the Shanghai Futures Exchange were under pressure during morning trading on Thursday, following a ratcheting up of trade tensions between the United States and China on Wednesday.Check Metal Bulletin's live futures report here. Afarak has announced the...Read More
The seaborne iron ore market remained inactive on Thursday August 2 with plenty of offers heard that did not culminate in transactions, with buyers exercising caution.Metal Bulletin 62% Fe Iron Ore Index: $66.87 per tonne cfr Qingdao, up by $0.32 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.08 per tonne cfr Qingdao, up by $0.32 per tonne.Metal Bulletin 58% Fe Premium Index: $54.4...Read More
The latest metal markets news and price moves to start the North American day on Thursday August 2.Copper prices on the London Metal Exchange consolidated during morning trading on Thursday August 2, unperturbed by news of strike action at BHP's Escondida mine in Chile, the world's largest copper mine.Dipping marginally over the morning session, copper's three-month price has fallen just under 3%...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreRio Tinto, bilateral sale, 170,000 tonnes...Read More
Participants in the seaborne coking coal spot market retreated to the sidelines following a flurry of transactions in the first half of this week."After end-users reentered the market in the last couple of days, and news that coke prices are on the rise[in China's Hebei and Shanxi province], there has been a boost in sentiment but we still prefer to wait a bit more," a Beijing-based trader told Me...Read More
ArcelorMittal's market-priced iron ore shipments increased 5.4% year on year to 10 million tonnes in the second quarter of 2018, the company said on Wednesday August 1.The company expects its market-priced iron ore shipments for the full year of 2018 to rise 10% year on year from 35.7 million tonnes in 2017.The company has mining operations in the United States, Canada, Mexico, Brazil, Liberia and...Read More
China's ferrous futures weakened further during morning trading on Thursday August 2.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 4,117 yuan ($604) per tonne, down 13 yuan per tonneOctober hot-rolled coil: 4,157 yuan per tonne, down 7 yuan per tonne Dalian Commodity Exchange September iron ore: 473 yuan per tonne, down 2 yuan per tonne September coking coal: 1,1...Read More
Due to an input error, Metal Bulletin's Shanghai aluminium bonded stocks assessment was published incorrectly on Monday July 2.Metal Bulletin has corrected its Shanghai aluminium bonded-stocks assessment, which was published incorrectly on July 2 due to an input error.The assessment should have been 4,500-5,500 tonnes, not 4,500-5,600 tonnes as it appeared previously.Metal Bulletin's price book an...Read More
Terms for blister copper refining charges (RCs) in China dropped notably month on month in July while declining copper scrap imports gave rise to additional demand for overseas blister copper.Metal Bulletin assessed the monthly blister copper 98-99% spot RC, cif China, at $200-210 per tonne on July 31, with African tonnages reported sold within the range in July. One major blister copper buyer in...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.7% on the morning of Thursday August 2. Zinc led the gains with a 1.3% increase to $2,572 per tonne, while copper was up by 0.7% at $6,168 per tonne.This follows a downbeat day on Wednesday when the complex closed with losses averaging 2.7%, led by a 4.8% drop in nickel and 3.6% fall in zinc. Th...Read More
INTL FCStone Ltd is developing a technology platform designed for its London Metal Exchange customers as it turns its focus to building out its global metals business following an internal restructuring. The company's newly appointed global head of metals Barry Canham told Metal Bulletin in an interview that the technology-led approach for LME clients would be similar to that already adopted for t...Read More
Cobalt trade log including business, bids and offers reported to Metal Bulletin.Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back.Metal Bulletin prices Click here for Metal Bulletin's price assessment for low-grade cobalt, in-warehouse, $ per lbClick here for Metal Bulletin's price assessment for high-grade cobalt, in-warehouse, $ per lbIn li...Read More