Singapore rebar import prices dropped over the past week on weaker demand from end users.Buyers were staying on the sidelines, with many citing falling domestic and export prices as the key reasons for holding back."Given the falling prices in China, it would not be an ideal time for a buyer to secure any cargoes now," a major fabricator in Singapore said.Negotiation levels have dipped, with buyer...Read More
Turkish deep-sea scrap import prices went down slightly on Monday July 9 with the news of a Baltic Sea cargo being sold last week.A steel mill in the Iskenderun region booked a Baltic Sea cargo comprising 12,000 tonnes of HMS 1&2 (95:5) at $360 per tonne cfr on Wednesday July 4.After the news of this deal was heard, the daily scrap indices slipped on...Read More
Turkish domestic auto bundle (DKP grade) scrap prices have strengthened with improving demand over the past week, while ship scrap prices have only shifted sideways, sources said on Monday July 9.Alloy long steel producer Asil ??elik raised its buy price by TRY50 ($11) per tonne to TRY1,680 ($367) per tonne delivered, while long and flat steel producer ??olakoglu increased its buy price for auto b...Read More
Physical iron ore prices for mainstream 62% Fe Australian fines saw modest gains on Monday July 9 following paper market increases.Metal Bulletin 62% Fe Iron Ore Index: $63.92 per tonne cfr Qingdao, up $0.08 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.61 per tonne cfr Qingdao, up $0.39 per tonneMetal Bulletin 58% Fe Premium Index: $51.43 per tonne cfr Qingdao, down $0.09 per tonn...Read More
CIS export slab prices jumped by $15-20 per tonne over the week ended Monday July 9 with mills increasing their offers on August-rolling material, following the positive trend in the finished flat steel segment in recent weeks.Reduced global availability of slabs was another reason for the higher offer prices. This was itself a result of scheduled maintenance outages at some CIS mills in the third...Read More
China's domestic rebar prices remained unchanged on Monday July 9 although futures picked up some strength after the weekend. Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($593-599) per tonne, unchanged Northern China (Beijing): 3,870-3,910 yuan per tonne, unchanged Rebar futures posted solid gains during the day, which stimulated buying interest in the spot market.Buyers who had not been p...Read More
Chinese ferro-chrome prices plunged late last week after ferro-chrome smelters in the major production hub of Inner Mongolia restarted operations, while muted buyer interest and uncertainty weighed on cif China UG2 chrome ore and charge chrome indices. Spot domestic ferro-chrome prices drop in China Chrome ore and charge chrome cif China dip Alloys in South Korea and Japan unmoved&nbs...Read More
Chinese domestic ferro-silicon prices dropped in the past week, paring gains made the week before amid low key trading activity from a fall in demand; meanwhile, the European market has seen a widening of the spot price trading range amid an illiquid market. China pares recent gains amid lower demand Dealers eye end to environmental inspections Europe price range widens lower amid slack...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in June 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in June 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April...Read More
Higher offer prices from Russian producers have been heard in the export market for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States.The market was not ready to accept these higher prices, however, due to lower prices in key outlet regions and falling prices for HRC exported from China, sources told Metal Bulletin on Monday July 9.As a result, Metal Bull...Read More
Base metals on the London Metal Exchange made a notable recovery from recent lulls at the close of trading on Monday July 9, led by a 1.9% price surge in nickel and aluminium prices. Edging back over $14,000 per tonne throughout the day, nickel prices reached a daily high of $14,240 per tonne after closing at their lowest point since May 10 on Friday.The metal experienced a sharp sell-off last wee...Read More
Metal Bulletin presents a timeline of key dates and events related to the manganese flake rally this year and the reasons behind the moves.Manganese flake prices are now trading at levels last seen in July 2012 amid ongoing production curtailments at major Chinese producer Ningxia Tianyuan, with the impact now spreading into the ferro-chrome and selenium markets. Metal Bulletin's assessment for in...Read More
Manganese ore and alloy prices ended their recent rally in China, after smelter restarts appeared to spell the end for alloy tightness. Chinese smelter restarts prompt downward correction in alloy prices Ore prices follow alloy lower Indian alloy prices rise on strong demand from east Asia European ferro-manganese prices drop on lower producer offers Manganese ore and alloy pr...Read More
The latest metal markets news and price moves to start the North American day on Monday July 9. Base metals on the London Metal Exchange were mostly higher during morning trading on Monday July 9, rebounding against positive US data last week and a broad recovery in global equity markets.Climbing 1.6%, copper's three-month price made the largest recovery after closing at its lowest point...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Monday July 9.Base metals, with the exception of lead, were all up on the Shanghai Futures Exchange during Asian morning trading on Monday, with copper leading a corrective rally after weeks of selling.Check Metal Bulletin's live futures report here.The depreciation of the yuan against the dol...Read More
Katanga Mining has named Samuel Rasmussen its chief operating officer - he replaces Deon Garbers, who resigned last month.Rasmussen has significant copper processing and mining experience in large-scale open pit and underground operations, having served in various management roles for companies including Freeport-McMoRan in the Democratic...Read More
Joe Raia has joined Chicago-based futures brokerage and clearing firm RJ O'Brien & Associates (RJO), as managing director of global commodity futures. Raia is responsible for building out RJO's energy and metals clearing and execution business globally in futures, options and cleared over-the-counter (OTC) products. This includes expanding the firm's breadth and expertise in a wide...Read More
Base metals on the London Metal Exchange made a notable recovery from recent lulls at the close of trading on Monday July 9, led by a 1.9% price surge in nickel and aluminium prices. Edging back over $14,000 per tonne throughout the day, nickel prices reached a daily high of $14,240 per tonne after closing at their lowest point since May 10 on Friday.The metal experienced a sharp sell-off last wee...Read More
Comex copper prices bounced back from a one-year low in US morning trading on Monday July 9, with a softer dollar and equity recovery supporting the base metals complex. Copper for September settlement on the Comex division of the New York Mercantile Exchange recovered 2.15 cents or 0.8% to $2.8455 per lb. Last week, the red metal traded at the lowest point since July 2017. "The outlook across the...Read More