Zinc prices on the London Metal Exchange struggled at the close of trading on Tuesday July 3, falling 1.1% over the afternoon and dipping below $2,800 per tonne for the first time since August 2017 amid broadly bearish trading conditions. "The base metals complex this morning remains uninspiring, with most metal prices struggling to attract dip-buying interest. The LME zinc price is still trading...Read More
Comex copper prices were slightly lower on Tuesday July 3 morning in the US, with trade shallow ahead of the Fourth of July holliday.Copper for September settlement on the Comex division of the New York Mercantile Exchange inched down 0.10 cents or 0.1% to $2.9430 per lb. The contract now sits at its lowest point since August 2017.Base metals have...Read More
Australian iron ore lump prices continued to rise on Tuesday July 3, while fines prices stayed rangebound.Metal Bulletin 62% Fe Iron Ore Index: $64.55 per tonne cfr Qingdao, up $0.01 per tonne Metal Bulletin 58% Fe Premium Index: $51.95 per tonne cfr Qingdao, up $0.03 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91.50 per tonne cfr Qingdao, down $0.10 per tonne Metal Bulletin 62% Fe China Port...Read More
Turkish steel mills have remained quiet in the deep-sea scrap markets, waiting for lower prices from suppliers due to falling values for finished steel and billet, sources said on Tuesday July 3.The mills in the country booked a number of deep-sea cargoes from the United States last week but fell quiet later in the week. The material in the cargoes was priced around $354 per tonne cfr for HMS 1&2...Read More
Prices for rebar in the United Arab Emirates were stable this week with demand being low for seasonal reasons, sources told Metal Bulletin on Tuesday July 3.Construction activity is at a very low level in the heat of summer, and demand is not expected to improve any time soon, sources said.Domestic rebarMajor rebar producers in the UAE rolled over their rebar prices again on June 29 and prices are...Read More
The US Midwest aluminium premium dropped for the third assessment in a row, as an ever-widening backwardation on the London Metal Exchange has pushed suppliers to offer at levels not seen since early April. American Metal Market's latest assessment of the US P1020 spot premium dropped to 20-20.75 cents per lb on Tuesday July 3, down from 20.5-21 cents per lb previously. The premium is now dow...Read More
A summary of base metals premiums from across the globe for the week to Tuesday July 3.Please click...Read More
Comex copper prices were slightly lower on Tuesday July 3 morning in the US, with trade shallow ahead of the Fourth of July holliday.Copper for September settlement on the Comex division of the New York Mercantile Exchange inched down 0.10 cents or 0.1% to $2.9430 per lb. The contract now sits at its lowest point since August 2017.Base metals have...Read More
The latest metal markets news and price moves for the start of the North American day on Tuesday July 3.Base metals on the London Metal Exchange edged higher during morning trading, supported by a downtick in the dollar index, while turbulent trade relations between the United States and major economies continue to destabilize commodities.Here's how base metals prices looked at 11:56am London time...Read More
Base metals on the London Metal Exchange edged higher during morning trading on Tuesday July 3, supported by a downtick in the dollar index while turbulent trade relations between the United States and major economies continue to destabilize commodities. "London has seen a re-emergence of the systematic sell programs after the poor closes last night, where most [base metals] settled on the session...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday July 3*Copper -$89.71 (-601.00 yuan)Aluminium -$510.61 (-3,420.95 yuan) Zinc $12.81 (85.81 yuan) Nickel -$177.86 (-1,191.59 yuan) *Metal Bulletin calculates the physical arbitrage for import into China...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transactions: rebarRebarOman, export, rebar, traded at $615-620 per tonne cfr, theoretical weight, to the UAE.Oman,...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletIran, export, billet, offered...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, HDGHot-rolled coilChina, export, hot rolled coil (2mm), offered at $620-625 per tonne cfr, to the UAE.China, export,...Read More
Norwegian ferro-silicon producer Finnfjord Smelteverk will cut about 3,500 tonnes of production between July and August of this year because of planned maintenance to one of its furnaces, according to an industry source. The company, which has its plant in the north of the country, operates three furnaces, one with capacity for 20,000 tonnes per year and two with capacities for 40,000 tpy. Mainten...Read More
Following extensive market engagement, Metal Bulletin has decided to extend the consultation period for the proposed launch of a battery-grade lithium ex-works China index to provide additional time for market participants to submit feedback. Metal Bulletin is committed to providing transparent pricing for the lithium sector and is therefore extending the timeframe to collect further feedback on t...Read More
Daily PDFs will be downloadable until Wednesday July 4. After that, because of a national holiday, the next daily PDF will be downloadable on Friday July 6.Read More
Time to consolidate The base metals have been sold off as trade fears have escalated, exacerbating risk-off sentiment. Technically and fundamentally, we feel prices have fallen far enough. Aluminium: Price forecasts lowered Given a negative technical configuration and challenging fundamental outlook, selling momentum is likely to remain the dominant force in the aluminium market for a while. Any r...Read More
LME started the new trading month poorly After three consecutive weekly declines, LME aluminium started the new trading month poorly, weighed down by weaker economic data out of China, which lends credence to concerns about the potentially negative impact of the trade dispute with the US. The resilient dollar index is weighing on the base metals complex too. Aluminium prices dropped 1.4% on Monday...Read More
Domestic Chinese ferro-chrome prices have risen in line with July tender prices from leading stainless steel mills. Spot domestic ferro-chrome prices rise in China Chrome ore, charge chrome import prices slideJapanese alloy prices edge upFerro-chrome prices rise in Europe Alloy markets flat in South Korea, United StatesChinese spot domestic ferro-chrome prices rose 4% in the week to Friday June 29...Read More