SHANGHAI, Jun 11 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index fell 0.7% over the past week to close at 93.5 last Friday. Expectations of interest rate hikes grew while the euro remains under pressure amid Italian political turmoil and the eurozone’s trade disputes with the US.SHFE metals fell last Friday...Read More
SHANGHAI, Jun 11 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index fell 0.7% over the past week to close at 93.5 last Friday. Expectations of interest rate hikes grew while the euro remains under pressure amid Italian political turmoil and the eurozone’s trade disputes with the US.SHFE metals fell last Friday...Read More
Steel billet prices in the global markets showed mixed dynamics in the week from Monday June 4 to Friday June 8, due to weak trading activity in Asia and strengthening sentiment in Turkey and the CIS region.Iran was effectively out of the market because of the threatened reinstatement of US trading sanctions, after the Western country withdrew from the international deal on Iran's nuclear-power am...Read More
Steel billet prices in the global markets showed mixed dynamics in the week from Monday June 4 to Friday June 8, due to weak trading activity in Asia and strengthening sentiment in Turkey and the CIS region.Iran was effectively out of the market because of the threatened reinstatement of US trading sanctions, after the Western country withdrew from the international deal on Iran's nuclear-power am...Read More
Base metals on the London Metal Exchange closed mostly lower at the end of trading on Monday June 11, with copper, nickel and tin prices recording losses while lead and aluminium made marginal gains. Falling 0.7% over the afternoon, copper's three-month price has dipped from the five-year highs that pushed its price up to $7,300 per tonne last week. Uncertainty over labor negotiations at BHP...Read More
Comex copper experienced a bout of profit-taking to open the new week on Monday June 11 morning in the US, following last week's surge.Copper for July settlement on the Comex division of the New York Mercantile Exchange fell 3.70 cents or 1.1% to $3.2630 per lb. Despite the downturn this morning market participants remain optimistic, with the global economy showing solid...Read More
The latest metal markets news and price moves to start the North American day on Monday June 11.Base metals on the London Metal Exchange were mostly lower during morning trading on Monday June 11, with copper and nickel prices decreasing while lead was the only metal to trade higher.Here's how...Read More
The Chinese domestic ferro-silicon market increased on expected tighter supply, with producers encountering environmental checks that could cut production in coming weeks, while the European market has been stable in June, ahead of the third-quarter delivery settlements conclusion between alloy suppliers and consumers in the steel sector. China adds to price gains on supply worries Could bec...Read More
Weak consumer demand continued to push antimony prices down in both the European and Chinese markets last week.Prices for antimony with bismuth content below 100ppm or trioxide-grade in-warehouse Rotterdam edged down to $8,200-8,450 per tonne on Friday June 11 from the mid-week assessment of $8,200-8,500 per tonne, when prices had kept stable with the May 25 assessment.The MMTA standard grade II a...Read More
Physical cobalt prices fell again on Friday June 8, faced with cheaper metal supplies, seasonally weaker spot demand and poor sentiment, market sources told Metal Bulletin. High-grade and low-grade cobalt prices were assessed at $41.65-42.95 per lb, in-warehouse, on Friday June 8, down 0.5% from the previous assessment of $42-43 per lb. Metal has become more cheaply and readily available, as...Read More
Long steel demand in European Union markets is likely to remain relatively weak through June amid relatively high stock levels at distributors and uncertainty around Europe's import safeguard investigation, market sources told Metal Bulletin.The European Commission (EC) is expected to impose preliminary safeguard measures on steel imports in early July and, following World Trade Organization rules...Read More
Turkish steel producers were silent in the deep-sea scrap markets at the beginning of this week after booking almost 250,000 tonnes of material last week, sources said on Monday June 11.The mills in the country had been in the market for July deliveries and booked seven deep-sea cargoes in the week ended June 8.But the prices have now started to pick up again because of the stronger Turkish demand...Read More
The latest metal markets news and price moves to start the North American day on Monday June 11.Base metals on the London Metal Exchange were mostly lower during morning trading on Monday June 11, with copper and nickel prices decreasing while lead was the only metal to trade higher.Here's how...Read More
Comex copper experienced a bout of profit-taking to open the new week on Monday June 11 morning in the US, following last week's surge.Copper for July settlement on the Comex division of the New York Mercantile Exchange fell 3.70 cents or 1.1% to $3.2630 per lb. Despite the downturn this morning market participants remain optimistic, with the global economy showing solid...Read More
Three-month base metals prices on the London Metal Exchange were split into two camps on the morning of Monday June 11, with lead, zinc and aluminium prices moving higher, while the rest weakened.Lead outperformed this morning with a 1% gain to $2,492 per tonne, with zinc and aluminium registering increases of 0.3% and 0.2% respectively. Tin led on the downside with a decline of 0.5%, while copper...Read More
Physical cobalt prices fell again on Friday June 8, faced with cheaper metal supplies, seasonally weaker spot demand and poor sentiment, market sources told Metal Bulletin. High-grade and low-grade cobalt prices were assessed at $41.65-42.95 per lb, in-warehouse, on Friday June 8, down 0.5% from the previous assessment of $42-43 per lb. Metal has become more cheaply and readily available, as...Read More
Due to a technical error, Metal Bulletin's monthly price assessment for domestic cold-rolled coil (CRC) in Brazil was published incorrectly on June 8, 2018.Metal Bulletin has now corrected its monthly Brazil CRC assessment.The price was published at 2,800-2,900 Reais ($754.93-781.89) per tonne ex-works, and has subsequently been corrected to 2,900-3,000 Reais per tonne ex-works.Metal Bulletin's pr...Read More
The latest metal markets news and price moves to start the North American day on Monday June 11.Base metals on the London Metal Exchange were mostly lower during morning trading on Monday June 11, with copper and nickel prices decreasing while lead was the only metal to trade higher.Here's how...Read More
Import prices for re-rolling-grade hot-rolled coil sold into Vietnam remained in an upward trend over the past week on sustained demand in the spot market.Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $607-620 per tonne cfr for the week ended Monday June 11, up $2-10 per tonne from...Read More
Long steel demand in European Union markets is likely to remain relatively weak through June amid relatively high stock levels at distributors and uncertainty around Europe's import safeguard investigation, market sources told Metal Bulletin.The European Commission (EC) is expected to impose preliminary safeguard measures on steel imports in early July and, following World Trade Organization rules...Read More