Key data from the Wednesday July 11 pricing session in Europe. Key drivers - Ferro-titanium prices dropped amid slow trading activity in seasonal slowdown, with steel plants shutting for worker vacations. Some steel mills in Europe are shutting for three weeks until Monday August 6. - Some suppliers lowered their offer prices to encourage buying interest and book some profits before...Read More
The following Metal Bulletin minor metals prices changed on Wednesday July 11:Minor metals Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 51,000-52,000 yuan per tonne from 50,500-51,500 yuan Cobalt MB free market high grade, $/lb: $38.30-39.65 per lb from $38.85-40.00 Cobalt MB free market low grade,...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday July 11:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $10.75-10.90 per lb from $10.65-10.80 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam,...Read More
Largo Resources Ltd has reached yet another milestone at the Maracas Menchen mine after achieving a new average daily production record of 29.4 tonnes of vanadium pentoxide (V2O5) per day during the month of June.The Toronto, Canada-based vanadium producer saw total production reach 2,458 tonnes of V2O5 at the Brazilian mine during the second quarter of 2018, up 13% from 2,183 tonnes in the same y...Read More
Prices for US heavy melting scrap (HMS) exports to Turkey dropped by as much as $10 per tonne in three lower-priced cargoes reported on Tuesday July 10, while the bulk scrap market off the US West Coast remained quiet.The lowest-priced cargo involved 36,000 tonnes of an 80:20 mix of No 1 and No 2 HMS sold at $343 per tonne cfr - down from cargoes sold at around $353 per tonne cfr from the US East...Read More
Metal Bulletin has corrected its import price assessment for hot-briquetted iron (HBI) in Italy, which was published incorrectly on June 29, 2018, due to an administrative error.The price was published at $300-310 per tonne cfr. It has subsequently been corrected to show $320-330 per tonne cfr.The specifications for this assessment are as follows: Assessment: Italian hot-briquetted iron, $ per ton...Read More
Iron ore export volumes from Western Australia's Port of Port Hedland surged by 9.8% year-on-year in June 2018 to a new record high.The port shipped 47.29 million tonnes of the steelmaking raw material last month, compared with 43.09 million tonnes a year earlier, according to data released by the Pilbara Ports Authority on Tuesday July 10.This volume was 5.2% higher than May's 44.97...Read More
Prices for seaborne Australian iron ore fines and lumps fell slightly on Wednesday July 11 while more details emerged over possible measures to cut emissions in China's steelmaking hub.Metal Bulletin 62% Fe Iron Ore Index: $63.34 per tonne cfr Qingdao, down $0.57 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.16 per tonne cfr Qingdao, down $0.66 per tonneMetal Bulletin 58% Fe Premiu...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. ...Read More
Seaborne coking coal prices continued to descend on Wednesday July 11 with sellers making more concessions in an attempt to speed up sales. "Chinese traders would rather reduce their offers for cargoes that are already on the water because it doesn't make sense to sell them once they have landed," a Chinese trading source said. Traders previously preferred to sell their cargoes only after they had...Read More
China's steel futures rose during morning trading on Wednesday July 11 having started the day weak, while the steelmaking raw materials contracts ended the session little changed from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,872 yuan ($584) per tonne, up 36 yuan per tonne October hot-rolled coil: 3,944 yuan per tonne, up 36 yuan per t...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 14 points in pre-opening trade. Futures are responding to the Trump Administration's announcement that it will seek a 10% tariff in two months on Chinese goods valued at $200 billion.Futures were virtually unchanged following release of the June Producer Price Index. Consensus was an increase of 0.3% versus a gain of...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An escalation in the United States' trade war with China, with another $200 billion of Chinese goods now potentially facing tariffs, has rattled base metals prices during early trading on Wednesday July 11. Three-month base metals prices on the London Metal Exchange were down across the board by an average of 2.8%, led by a 4.1% decline in zinc. Three-month copper was down by 3.5% at $6,124 per to...Read More
Metal Bulletin has launched in collaboration with Westwood Global Energy Group (Westwood), the leading provider of research, data analytics, and consulting services to the global energy industry, its future of corrosion-resistant alloys report. For the chrome and corrosion-resistant alloy (CRA) OCTG market, the Middle East is expected to remain the largest consuming region worldwide, driven by exp...Read More
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.After a consultation period, Metal Bulletin has launched a weekly price for Asia grade 304 stainless steel HRC imports into East Asia to better reflect trading...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday July 11.Base metals prices on the Shanghai Futures Exchange fell sharply during Asian morning trading on Wednesday, with China-US trade tensions once again weighing on the market.Check Metal Bulletin's live futures report here.Global aluminium premiums were again under pressure from...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday July 11:Aluminium scrap Group 1 pure 99% & litho: ?1,430-1,470 per tonne from ?1,430-1,475 Commercial pure cuttings:...Read More
After an unsuccessful attempt yesterday to break above the current resistance level, gold returns to trading under pressure. Today’s market activity resulted in gold futures declining by approximately $3.20, which is a quarter percent decline. Gold futures are currently fixed at $1,256.40.Yesterday gold traded to an intraday high of just below $1,267 per ounce, which is the current resistanc...Read More
(Kitco News) - While the gold market may have less room to move on the downside, investors shouldn’t expect any significant rebound in the price until at least the end of the year, according to some analysts.The comments come as gold prices continue to struggle to find momentum, weighed down by a stronger U.S. dollar. August gold futures last traded at $1,256.30 an ounce, down 0.26% on the d...Read More