The UK light iron scrap market was stable over the past week, for the seventh week in a row, but downward pressure is expected to come in the near term after a fall in export prices, industry sources told Metal Bulletin on Friday May 25.The market has been steady since mid-April, since which time sterling has fallen in value against the dollar - by about $0.10 to $1.338 on May 25. This has shored...Read More
Tin prices on the London Metal Exchange traded at their lowest figure since January, closing 1.3% lower on Friday May 25, while nickel and lead prices consolidate gains to end the week higher. Falling below $20,000 per tonne for the first time since January, tin's three-month price continues to drift lower, recording a weekly price fall just short of 4%. The metal's cash/three-month spread ha...Read More
The latest metal markets news and price moves to start the North American day on Friday May 25.Nickel prices on the London Metal Exchange reached a one-month high during morning trading, climbing more than 4% on the week while tin's three-month price continued to lead the complex lower."The base metals are split into three camps, with tin prices falling and looking vulnerable while lead and nickel...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday May 25.Nickel prices on the Shanghai Futures Exchange (SHFE) tracked those on the London Metal Exchange (LME) higher during Asian morning trading on Friday May 25 as the US dollar weakened overnight. Check Metal Bulletin's live futures report here. LME snapshot at 0128 London time Latest 3M&n...Read More
The latest news and price moves to start the Asian day on Friday May 25.Base metals prices on the London Metal Exchange were broadly higher at the close of trading on Thursday May 24, with nickel leading the gains while tin bucked the trend to edge lower. Read more in our live futures report.Here are how prices looked at the close of trading:Chinese customs agents have impounded 16,...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base MetalsTwo Glencore employees are among those that Chinese authorities have detained as part of a nationwide series of arrests relating to the import of illegal waste products, three sources with knowledge of the matter told Metal Bulletin.UC Rusal has warned shareholders that the US Tr...Read More
In the second of this two-part feature, Metal Bulletin looks at the developments in the coking coal market since September 2016, a time period when prices for the steelmaking raw material experienced extreme swings. Between November 2013 - when Metal Bulletin's fob Australia Premium Hard Coking Coal Index was launched - and August 2016, the month-on-month change in the index's average was mostly a...Read More
In this two-part feature, Metal Bulletin looks at the evolution of the coking coal market from 2013 until now, analyzing the changes in the fundamentals affecting the segment and the developing pricing structures. Since the November 2013 launch of Metal Bulletin's fob Australia Premium Hard Coking Coal Index - the headline price for the coking coal market - two clear phases have emerged. The first...Read More
Tin prices on the London Metal Exchange traded at their lowest figure since January, closing 1.3% lower on Friday May 25, while nickel and lead prices consolidate gains to end the week higher. Falling below $20,000 per tonne for the first time since January, tin's three-month price continues to drift lower, recording a weekly price fall just short of 4%. The metal's cash/three-month spread ha...Read More
Comex copper prices declined on Friday May 25 ahead of the holiday weekend, with a surging dollar sinking the entire base metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 2.30 cents or 0.7% to $3.0730 per lb. The red metal has been unable to set any sustainable price direction this week. "The...Read More
Physical iron ore prices softened on Friday May 25 amid declining futures despite gains in the steel market.Metal Bulletin 62% Fe Iron Ore Index: $63.94 per tonne cfr Qingdao, down by $2.44 per tonneMetal Bulletin 58% Fe Premium Index: $52.72 per tonne cfr Qingdao, down by $0.33 per tonneMetal Bulletin 65% Fe Iron Ore Index: $83.40 per tonne cfr Qingdao, down by $0.60 per tonneMetal Bulletin 62% F...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Flat stainless steel product prices in Europe were unchanged this week amid continued high stock levels at warehouses, sources told Metal Bulletin on Friday March 25.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern Europe was ?,?1,015-1,050 ($1,190-1,231) per tonne delivered on Friday.The price had weakened by ?,?35-50 per tonne on...Read More
Aluminium scrap markets are holding a steady course in the United States, although a few grades are showing signs of softness due to increased availability of material. Smelter- and mill-grade scrap prices were mostly unchanged across the board. The exceptions were high-grade turnings, which dropped a penny on the lower end of the range; and aluminum-copper radiators, which slipped 1 cent per lb o...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base MetalsTwo Glencore employees are among those that Chinese authorities have detained as part of a nationwide series of arrests relating to the import of illegal waste products, three sources with knowledge of the matter told Metal Bulletin.UC Rusal has warned shareholders that the US Tr...Read More
Comex copper prices declined on Friday May 25 ahead of the holiday weekend, with a surging dollar sinking the entire base metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 2.30 cents or 0.7% to $3.0730 per lb. The red metal has been unable to set any sustainable price direction this week. "The...Read More
The latest metal markets news and price moves to start the North American day on Friday May 25.Nickel prices on the London Metal Exchange reached a one-month high during morning trading, climbing more than 4% on the week while tin's three-month price continued to lead the complex lower."The base metals are split into three camps, with tin prices falling and looking vulnerable while lead and nickel...Read More
Nickel prices on the London Metal Exchange reached a one-month high during morning trading on Friday May 25, climbing more than 4% on the week while tin's three-month price continued to lead the complex lower. Nickel three-month price recorded its highest level since April's sanction-related spike this morning, reaching a high of $15,055 per tonne. Nickel inventories on the exchange continue to dr...Read More
All base metal stocks at Shanghai Futures Exchange-approved warehouses were lower week on week on Friday May 25, with deliverable lead stocks plunging almost 18% or 2,782 tonnes over the week to 12,676 tonnes. This week Zhejiang Tianchuan recorded the most lead stock withdrawals, with 1,513 tonnes leaving its sheds. The decrease is related to supply tightness in the domestic market...Read More
Export prices for Brazil-origin steel slab jumped this week due to renewed buying activity from the United States.Metal Bulletin's weekly assessment of Brazilian slab exports rose to $580-590 per tonne fob on Friday May 25 from $565-570 per tonne fob a week earlier.At least two deals for July shipment were confirmed within the latest reported range to clients in North America this week,...Read More