China is likely to take an economic hit from its crackdown on scrap imports, prompting it to adopt a more pragmatic approach in the future, panelists of the Bureau of International Recycling's (BIR) International Trade Council said at the association's Barcelona conference. China has announced several drastic measures to curtail the import of scrap into the country in recent months. The country's...Read More
All pig iron production facilities in Brazil came to a halt this week due to the truck drivers' strike over recent fuel price rises, Metal Bulletin was told on Wednesday May 30."100% of the pig iron sector has stopped due to the strike," a producer said."[Operations at] almost all companies are reportedly halted," a second producer added.The Brazilian truck drivers' nationwide strike, which began...Read More
Base metals were broadly lower on the London Metal Exchange during morning trading on Wednesday May 30, with tin the only metal to record an upward move against a strengthening US dollar index.Tin's three-month price is consolidating around $20,500 per tonne, recovering from its dip below $20,000 per tonne on May 25, its lowest point since January 2018. Concerns over tightening supply continu...Read More
Eastern China's rebar prices continued rising on Wednesday May 30 on falling stockpiles, while those in northern China were flat amid weak trading activity.Domestic Eastern China (Shanghai): 3,870-3,920 yuan ($603-611) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,860-3,880 yuan per tonne, unchangedRebar inventories in major eastern Chinese markets such as Shanghai and Hangzhou hav...Read More
Spot copper premiums strengthened in Europe in the week ended Tuesday May 29, with a strong contango on the London Metal Exchange boosting sellers' resolve to deal at higher levels. Asian rates, meanwhile, were flat with the previous week's levels. Italian premiums at their highest in over two years German premiums reach their highest level since December 2016 Asian markets largely steady; eyes o...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday May 30*Copper -$95.22 (-613.86 yuan) Aluminium -$508.90 (-3,280.69 yuan) Zinc $32.20 (207.57 yuan) Nickel -$602.89 (-3,886.6 yuan) * Metal Bulletin calculates the...Read More
The following Metal Bulletin minor metals prices changed on Wednesday May 30:Minor metals Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 52,000-52,500 yuan per tonne from 51,000-51,500 yuan Cobalt MB free market high grade, $/lb:...Read More
An overview of the minor metals markets and the reasons for any price moves. The above...Read More
Three-month base metals prices on the London Metal Exchange were down across the board by an average of 0.4%, with copper prices off by 0.9% at $6,768 per tonne. Volume has been heavy with 12,850 lots traded as of 07:53 am London time. This follows a mixed performance on Tuesday when copper and lead prices were off 0.5% and 0.3% respectively, aluminium prices closed up by 0.1% and the rest were up...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday May 30:Aluminium scrap Group 1 pure 99% & litho: ?1,425-1,470...Read More
China's ferrous futures started the day low on Wednesday May 30 but most contracts ended the morning session higher, with the exception of that for iron ore.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,644 yuan ($567.90) per tonne, up 19 yuan per tonne October hot-rolled coil: 3,868 yuan per tonne, up 23 yuan per tonne Dalian Commodity Exchange September iron...Read More
Nickel Mcx – Nickel BUY Call a4c given at price 1004.50 CMP 1009.50 Near to 1st Target 1010. Low risk taker book 5 Points x 2 lot = 10 Points at CMPTIPS ID a4c : Nickel Call - Buy Nickel at CMP 1004.50 for Target 1010 - 1014 with SL below price 999.50. RISK taker trade 2 lots Read More
NICKEL CALLNickel Call – Buy Nickel at CMP 1004.50 for Target 1010 – 1014 with SL below price 999.50. RISK Taker trade 2 lots Read More
Free Tips Zinc – Zinc BUY Call a44 given at price 209.40. CMP 209.90. Low risk taker may book 0.5 x 2 lot = 1 Points / Rs 5000TIPS ID a44 : Zinc Calls - Buy Zinc at cmp 209.40 for Target 210.40 - 211 with SL below price 208.40 Read More
Today Aluminium Call – Aluminium Sell Call a2e Given at 153.35 (SL Advised Above 154.25 Return from 154.30) Achieved 1st Target 152.60. Made 152.60. Total profit of 0.75 x 2 lot = 1.5 points profita2e : Aluminium Today - SELL Aluminium at CMP 153.35 for Target 152.60 - 152.0 with SL Above price 154.25 Read More
Zinc Calls – Buy Zinc at cmp 209.40 for Target 210.40 – 211 with SL below price 208.40 Read More
As they say in Italian, “Arrivederci Euro, Forte Dollaro US,” or “goodbye Euro the U.S. dollar is strong.” Political unrest in Italy has put tremendous pressure on the euro zone, with the euro-dollar selling off dramatically today against the U.S. dollar.As reported by CNBC, “Over the weekend, Italy's prime minister appointed former International Monetary Fund officia...Read More
Mcx Lead Commodity – Lead Sell call a36 given at price 167 Achieved 2nd Target 165.10. CMP 164.80. Total profit made 1.9 x 2 lot = 3.80 Points profitTIPS ID a36 : Today Lead Tips - SELL Lead at CMP 167.10 - 167 (CMP 167) for target 166 - 165.10 with SL Above price 168.10 Read More
NEW YORK (Reuters) - U.S. Treasury yields dropped to multi-week lows on Tuesday, pressured by declines in the European government bond market as a political crisis in Italy, the third-largest euro zone economy, fueled a flight to safe-haven assets.U.S. two-year and 10-year yields, which move inversely to prices, dropped to seven-week lows and slid for four straight sessions.U.S. 30-year bond yield...Read More
NEW YORK (Reuters) - Investors piled into safe-haven bets on Tuesday as political turmoil in Italy sparked fears of another euro crisis, driving up the Japanese yen and pushing the U.S. dollar to a 10-month high against the euro.A deepening political crisis in Italy, the euro zone’s third-biggest economy, provoked selling of Italian assets and the euro that was reminiscent of the euro zone d...Read More