Three-month base metals prices on the London Metal Exchange were for the most part lower on the morning of Friday June 15, led by a 0.6% fall in zinc prices to $3,161 per tonne.While nickel gained 0.3%, the rest are off between 0.1% and 0.2%. Copper prices were recently quoted at $7,153 per tonne.Volumes have been average with 5,356 lots traded as of 0707 London time. This follows a day of we...Read More
Base metals prices on the London Metal Exchange were mostly lower again during morning trading on Friday June 15, despite nickel recouping some of its losses.Base metals prices on the London Metal Exchange were mostly lower again during morning trading on Friday June 15, despite nickel recouping some of its losses.After falling over $300 per tonne on Thursday, nickel is the only base metal to be t...Read More
Prices for imports of South Korea-origin hot rolled coil (HRC) into India have fallen by about $15 per tonne this week to $645-650 per tonne cfr Chennai port.This compared with a similar South Korean HRC shipment booked more than a month ago at $660-665 per tonne cfr Chennai port.The South Korean cargo, scheduled for shipment in July, was agreed by a Chennai-based end-user after importers in Mumba...Read More
Slab export prices from Brazil have increased this week due to renewed demand from clients in the United States.Metal Bulletin's weekly assessment of Brazil slab export prices was $590-600 per tonne fob on Friday June 15, up from $580-590 per tonne last week.Several deals were reported within the range of $590-600 per tonne fob this week, with companies keeping their focus...Read More
Some mill-grade aluminium scrap prices are being weighed down by softness in the terminal markets and mixed demand, while smelter-grade material is steady.Mill-grade painted siding succumbed to pressure, with prices down by 1 cent per lb on Thursday June 14, according to American Metal Market's latest assessment.But with the seasonally slow summer period approaching, some market particip...Read More
Common themes throughout the US economy are high and rising transportation and logistics costs. Those problems have been acute for the copper industry, leading to ever-rising premiums and questions on when the issue will be mitigated.The confluence of increased regulations, difficulty finding truck drivers and costly fuel surcharges are all leading to spot rates increasing by up to 30% in certain...Read More
The US Midwest aluminium premium inched up on Friday June 15, with market participants noting that prices in the spot market are not dropping to incentivize buying despite a backwardation on the London Metal Exchange. American Metal Market assessed the spot P1020 premium at 21.75-22.25 cents per lb delivered to the Midwest, widening slightly from 21.75-22 cents per lb earlier i...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Yokohama, Nagoya and Osaka rose another 6.4% month on month in May, according to Marubeni Corp data released on Friday June 15.MJP aluminium stocks totaled 284,200 tonnes at the end of last month compared with 267,100 tonnes at the end of April. Total stocks at the end of May were also up by 6.9% from the same period of 2017. ...Read More
Global trader Glencore plans to resume royalty payments to a former business partner in the Democratic Republic of Congo (DRC), ending a legal dispute that could have resulted in severe disruption to its copper and cobalt mining operations.The company will make the payments because it is seen as the only viable way to avoid the material risk of the seizure of its assets, which comprise Mutanda Min...Read More
Comex copper prices tumbled Friday morning in the US amid a strong dollar, escalating trade war fears and disappointing Chinese data.Copper for July settlement on the Comex division of the New York Mercantile Exchange tumbled 5.20 cents - or 1.6% - to $3.1700 per lb. Earlier, the contract touched $3.1645. "We maintain our friendly copper view in the near term, treating the recent price weakne...Read More
Flat steel import prices in South America remained unchanged this past week, due to stable offers from China.Metal Bulletin's weekly price assessment of South American hot-rolled coil (HRC) imports held at $620-630 per tonne cfr. Meanwhile, cold-rolled coil (CRC) was assessed at $670-680 per tonne cfr, hot-dipped galvanized coil (HDG) at $750-760 per tonne cfr and plate at $630-640 per tonne cfr -...Read More
Hot-rolled coil prices in the United States have surpassed $45 per hundredweight ($900 per ton) for the first time in nearly 10 years, with sources citing higher quotes from some mills.American Metal Market's hot-rolled coil index rose to $45.52 per cwt on Thursday June 14, up 1.5% from $44.85 per cwt previously and a 54.3% gain from $29.50 per cwt a year ago.This marks the highest level...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Turkish scrap import prices recovered this week on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.The US import pig iron market imp...Read More
Domestic rebar prices in Poland remained largely unchanged over the past week despite slow trading, sources told Metal Bulletin on Friday June 15.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,230-2,300 zloty ($610-629) per tonne ex-works on June 15, compared with 2,220-2,300 zloty per tonne ex-works a week earlier.The assessment reflects the latest re...Read More
Tata Steel Europe and South Korean steelmaker Posco will look to increase their offering of corrosion-resistant steels to the automotive and construction sectors in their respective markets after signing a cross-licensing agreement, the companies said on Thursday June 14.The deal will allow Tata Steel Europe to access Posco's Physical Vapour Deposition (PVD) technology, which allows anti-corrosion...Read More
The number of new passenger car registrations in the European Union increased slightly by 0.83% year-on-year in May 2018.New car sales in Europe totalled 1,398,913 units in May this year, compared with 1,387,450 vehicles sold in the corresponding month of 2017, the...Read More
Key data from the pricing session in the week ending Friday June 15.China Chinese domestic ferro-chrome market strengthens further owing to tightened supply following a new round of environmental inspections in 2018. Higher prices reported for imported charge chrome this week, buoyed by fuel costs increase in winter of South Africa and supply disruptions during maintenance period...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday June 15Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.20-11.30 per lb from $11.30-11.40 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $27.55-27.80 per kg from $27.75-28.00 Ferro-molybdenum US 65-70% Mo, $/Ib: $12.60-13.00 per Ib from $12.70-13.10 Tungsten European free mark...Read More
China's domestic spot battery-grade lithium carbonate prices fell further in thin buying this week but lithium hydroxide prices held steady.Asian seaborne battery-grade lithium carbonate prices also edged down, reflecting the continued fall in Chinese prices.A further fall in battery-grade lithium carbonate prices in China weighs on seaborne cif China, Japan and Korea market pricesDownstream consu...Read More
The latest metal news and price moves to start the North American day on Friday June 15.Base metals prices on the London Metal Exchange were mostly lower again during morning trading despite nickel recouping some of its losses.Here's how three-month LME base metals prices...Read More