Metal Bulletin's Top Steelmakers 2018 list shows ArcelorMittal retaining the crown as the world's largest steel producer, but the mills of China, Japan, South Korea and India occupy positions 2-10. Nucor in the United States, with an output of over 21 million tonnes in 2017, is the highest-ranking steelmaker from outside the region, in 12th spot. Since China has about half of the world's global st...Read More
Copper prices on the London Metal Exchange continued to lead the base metals complex higher at the close of trading on Thursday June 7, climbing 1.5% over the day to finish above $7,300 per tonne for the first time since January 2014.The red metal's price has risen more than 7% in June, with increased uncertainty surrounding labor negotiations at BHP Billiton's Escondida mine in Chile, the world's...Read More
Comex copper prices ticked higher on Thursday June 6 due to bullish sentiment on the back of Escondida wage negotiations and a weakening dollar.Copper for July settlement on the Comex division of the New York Mercantile Exchange edged 4.5 cents or 1.4% higher to $3.307 per lb. "Copper price sentiment remains bullish on Thursday June 7; the three-month benchmark has hit a 2018 high...Read More
Trading activity in the physical iron ore market slowed down amid rangebound prices on Thursday June 7, in spite of increases in the downstream steel segment.Metal Bulletin 62% Fe Iron Ore Index: $66.84 per tonne cfr Qingdao, up by $0.28 per tonneMetal Bulletin 58% Fe Premium Index: $54.06 per tonne cfr Qingdao, up by $0.51 per tonneMetal Bulletin 65% Fe Iron Ore Index: $87.60 per tonne cfr Qingda...Read More
Turkish steel producers continued their deep-sea scrap purchases for July deliveries on Thursday June 7, with prices increasing slightly.A steel mill in Northern Turkey booked a US cargo, comprising 34,000 tonnes of HMS 1&2 (80:20) at $347 per tonne and 8,000 tonnes of shredded at $355 per tonne cfr.Another steel mill in the Izmir region booked a Baltic Sea cargo,...Read More
Imported steel billet prices narrowed but domestic rebar prices were unchanged in Egypt this week because of limited demand, sources told Metal Bulletin on Thursday June 7.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on June 7 was unchanged at E ?12,525-12,528 ($699-700) per tonne ex-works.The country's rebar biggest producer, Ezz Steel,...Read More
Healthy copper demand will persist, supported by growth in emerging economies and the metal's application in the growing electric vehicle market, according to panelists at Metal Bulletin's fourth annual copper seminar on Wednesday June 6.Copper prices have trended upward this year, driven in large part by the metal's varied applications across several industries.American Metal Market's assessment...Read More
Copper mine development is becoming increasingly difficult due to a range of factors, according to industry participants, and during a time when more supply is needed to meet a looming deficit.The global market is expected to fall into a deficit in the coming years due to lack of exploration stemming from stubbornly low prices. According to the International Copper Study Group, the global copper m...Read More
Primary copper smelting capacities have been partly suspended in important regional hubs in China such as Jiangxi province, sources told Metal Bulletin on Thursday June 7.The action was the result of the country's environmental inspection teams being dispatched to 10 provinces to review the progress made in curbing pollution since the end of May.In Jiangxi, home to more than 600,000 tonnes per yea...Read More
Comex copper prices ticked higher on Thursday June 6 due to bullish sentiment on the back of Escondida wage negotiations and a weakening dollar.Copper for July settlement on the Comex division of the New York Mercantile Exchange edged 4.5 cents or 1.4% higher to $3.307 per lb. "Copper price sentiment remains bullish on Thursday June 7; the three-month benchmark has hit a 2018 high...Read More
Toromocho copper mine, the only major greenfield project in Peru, will increase annual capacity by 45% in 2020, owner Aluminum Corp of China (Chinalco) said. The state-owned company plans to spend $1.3 billion on the ramp-up which will boost annual mining output to $2 billion worth of concentrate per year upon completion, Chinalco chairman Ge Hoglin said at a groundbreaking ceremony in the Peruvia...Read More
The latest metal markets news and price moves to start the North American day on Thursday June 7.Copper prices on the London Metal Exchange surged to a fresh 2018 high during morning trading on Thursday June 7, leading the complex after supply-side disruptions pushed prices up."The upswing is continuing this morning, especially in the case of copper. It has climbed to nearly $7,300 per tonne in Lo...Read More
The United States' formerly robust reinforcing bar import market is showing signs of revival, market participants said, with at least one US importer booking some 30,000 tonnes of Turkish rebar recently.After President Donald Trump levied hard 25% Section 232 tariffs against steel imported from North American free Trade Agreement countries and the European Union, Turkish mills firmed up...Read More
Domestic reinforcing bar prices in the United States remain steady as market participants await the impact of the Trump administration's decision to impose Section 232 tariffs of 25% on imported steel products from Canada, Mexico and the European Union.American Metal Market's latest price assessment on June 6 for domestic rebar was $35-36 per hundredweight ($700-720 per short ton), uncha...Read More
Turkish billet import prices have dropped over the past week, while domestic prices have been increasing slightly, sources said on Thursday June 7.Metal Bulletin's weekly price assessment for billet imports into Turkey was $510-520 per tonne cfr on June 7, down from $520-530 per tonne assessed last week on May 31.The price decrease is because of the downturn in...Read More
Domestic rebar and wire rod prices in Turkey have weakened on a US dollar basis due to the strengthening Turkish lira over the past week, sources said on Thursday June 7.Metal Bulletin's weekly price assessment for domestic rebar was $540-555 per tonne ex-works on June 7, down from $550-565 per tonne last week on May 31.The lira was trading at TRY100 to $21.83 on June 7, up...Read More
Sentiment in the CIS billet export market improved on Thursday June 7 after the resumption in scrap and rebar trading between Turkey and the United States earlier in the week.Some market participants said the improvement had yet to be backed up by deals at higher prices, but Metal Bulletin's CIS billet export index has pushed up by $8 per tonne since Tuesday to reach $506 per t...Read More
Turkish rebar export prices have started to recover from the United States' decision to impose a 25% tariff on steel imports from the EU, Canada and Mexico, sources said on Thursday June 7.The US' decision was expected to increase demand for Turkish rebar since the tariff also applied to regions that had been given temporary exemptions and Turkish steel mills became more competitive.Mills in Turke...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet CIS,...Read More
Battery cell maker Northvolt has received the environmental permit for what will be Europe's largest lithium-ion battery cell factory, with the initial phase of construction to begin on Friday June 8. The permit was issued for the first section of the factory, in Skellefte?? in the north of Sweden, which will be completed in 2020 and produce eight gigawatt cell capacity per year. The full factory...Read More