Long steel prices in EU markets could rise with mills seeking to push offers upward before the announcement of a preliminary decision in Europe's current import safeguard investigation, market sources told Metal Bulletin on Monday July 2.The European Commission (EC) is expected to impose preliminary safeguard measures on steel imports early this month and, under World Trade Organization rules, it...Read More
Key takeaways from Industrial Minerals tenth Lithium Supply & Markets Conference, which took place in Las Vegas on June 26-28.Battery makers and new energy vehicle (NEV) manufacturers seek lower lithium prices, multi-year commitmentsThe world's largest consumers of lithium compounds, such as battery makers and NEV manufacturers, want lower and stable lithium prices. After the shortening of contrac...Read More
The latest metal markets news and price moves for the start of the North American day on Monday July 2.Base metals prices on the London Metal Exchange edged lower during morning trading with ongoing global trade tensions and subsequent dips in equity indexes continuing to deter market investment.Here's how base metals prices looked at 12:29pm London time:Read our live futures report here.Tata...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Monday July 2.Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Monday, with market sentiment dampened by disappointing Chinese economic data released over the weekend.China's official manufacturing PMI fell to 51.5 in June from 51.6 in the pr...Read More
BP plc is to buy Chargemaster, the UK's largest charging company for electric vehicles (EVs), in the latest move by oil and gas companies to tap into the electromobility revolution.Along with peers such as Royal Dutch-Shell and Total, oil conglomerate BP has been making relatively small but significant investments into the infrastructure required for charging EVs, and not just as a contributor to...Read More
Key takeaways from Industrial Minerals tenth Lithium Supply & Markets Conference, which took place in Las Vegas on June 26-28.Battery makers and new energy vehicle (NEV) manufacturers seek lower lithium prices, multi-year commitmentsThe world's largest consumers of lithium compounds, such as battery makers and NEV manufacturers, want lower and stable lithium prices. After the shortening of contrac...Read More
Nickel prices on the London Metal Exchange fell over 2% by the close of trading on Monday July 2, topping broad losses across the complex while escalating trade tensions and dwindling equity markets weigh on commodities.Reaching a high of $14,940 per tonne over the day, nickel's three-month price fell sharply during afternoon trading, drifting back to the $14,500 per tonne region. "If Chinese...Read More
Prices for iron ore lumps remained strong on Monday July 2 despite a few transactions involving fines being concluded below prevailing levels.Metal Bulletin 62% Fe Iron Ore Index: $64.54 per tonne cfr Qingdao, down $0.48 per tonne Metal Bulletin 58% Fe Premium Index: $51.92 per tonne cfr Qingdao, up $0.42 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91.60 per tonne cfr Qingdao,...Read More
Seaborne coking coal spot prices were largely stable on Monday July 2 despite some offers being made above prevailing levels, which kept end-users away from the market. "The offers are not representative of the current market. Prices were propped up after last week's trade [of $211 per tonne cfr China]," a Chinese trader told Metal Bulletin. An end-user source said that the current market was arti...Read More
CIS export billet prices continued to fall gradually at the beginning of this week with trading activity in the major outlets remaining sluggish over the weekend.Metal Bulletin's CIS billet export index was $516 per tonne fob Black Sea on Monday July 2, compared with $519 per tonne fob Black Sea on June 29.Offers of the material varied within the range of $515-520 per tonne fob Black Sea. But such...Read More
Nickel prices on the London Metal Exchange fell over 2% by the close of trading on Monday July 2, topping broad losses across the complex while escalating trade tensions and dwindling equity markets weigh on commodities.Reaching a high of $14,940 per tonne over the day, nickel's three-month price fell sharply during afternoon trading, drifting back to the $14,500 per tonne region. "If Chinese...Read More
BP plc is to buy Chargemaster, the UK's largest charging company for electric vehicles (EVs), in the latest move by oil and gas companies to tap into the electromobility revolution.Along with peers such as Royal Dutch-Shell and Total, oil conglomerate BP has been making relatively small but significant investments into the infrastructure required for charging EVs, and not just as a contributor to...Read More
Blister copper refining charges (RC) terms in China increased in June due to higher availability of overseas materials, which offset part of the capacity lost in the production halt while inspections took place over the month.The monthly blister copper 98-99% spot cif China RC rose to $215-235 per tonne, with a sale of several thousand tonnes reported at the higher end of the range and offers comi...Read More
Comex copper prices softened for the fourth consecutive day on July 2 morning in the US, with a stronger dollar keeping base metals pressured.Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 2.10 cents or 0.7% to $2.9450 per lb. The red metal is being pressured by threats of a global trade war due to increasing tariffs. New reports of president....Read More
The latest metal markets news and price moves for the start of the North American day on Monday July 2.Base metals prices on the London Metal Exchange edged lower during morning trading with ongoing global trade tensions and subsequent dips in equity indexes continuing to deter market investment.Here's how base metals prices looked at 12:29pm London time:Read our live futures report here.Tata...Read More
Anil Agarwal, the founder and majority-owner of Vedanta Resources, has agreed to buy the remaining stake of the mining company, a move to pave the way for delisting it from the London Stock Exchange (LSE). Anil Agarwal's discretionary trust's investment vehicle, Volcan, which owns a 66.53% stake in the London-listed Vedanta, has agreed to acquire the rest of its shares at a total offer value of ?...Read More
Base metals prices on the London Metal Exchange edged lower during morning trading on Monday July 2, with ongoing global trade tensions and subsequent dips in equity indexes continuing to deter market investment. "European PMI numbers came in lower this morning, and people are backing away. The Chinese have backed off quite a lot. The appetite to price metal there is quite low. Copper is showing e...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday July 2*Copper -$86.53 (-576.62 yuan)Aluminium -$521.01 (-3,472.06 yuan) Zinc $5.59 (37.27 yuan) Nickel -$233.79 (-1,558.03 yuan) *Metal Bulletin calculates the physical arbitrage for import into China...Read More
US domestic merchant bar prices have risen after early June mill hikes, while import merchant bar prices held steady due to a lack of market activity following the implementation of Section 232 tariffs on steel imports from Canada, Mexico and the European Union.American Metal Market's latest price assessment for US domestic 2x2x 1/4 angle merchant bar rose to $38.05 per hundredweight ($761...Read More
Producers of hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's central region, near Moscow, were bearish, trying to stimulate sales. Metal Bulletin's weekly assessment of Russia-origin 4mm HR sheet prices fell again this week, to 43,700-44,900 roubles ($695-699) per tonne cpt Moscow on Monday July 2, including VAT, from 44,700-44,950 ($710-714) roubles the previous week."Offers are unch...Read More