Bradley Levitan and William Copp have left London Metal Exchange category I member INTL FCStone, sources said. Copp has joined rival trading firm ED&F Man Capital Markets, according to his LinkedIn page, with sources saying Levitan will also join him...Read More
European spot prices for molybdic oxide and ferro-molybdenum dropped this week while May public holidays took place across much of the continent but trading activity is likely to pick back up in the near term, sources said.Consumers in the steel sector are due to issue tenders for prompt delivery, which should provide near-term direction for spot prices, they said. Prices have been generally drift...Read More
South African miner Kudumane Manganese Resources (KMR) has delayed deliveries of some of its manganese ore shipments following heavy rains in the country's Northern Cape region.Supplies from the company's mine in Northern Cape will be affected until August, KMR said."The heavy rains did necessitate the rescheduling of one or two shipments over [May-August]," KMR chief executive officer Thembelani...Read More
Teck Resources has signed annual zinc concentrate supply deals with European smelters Glencore and Nyrstar with treatment charges (TCs) set at a 12-year low of $147 per tonne, sources with knowledge of the matter confirmed to Metal Bulletin.Price participation, which had historically given miners and smelters the ability to share in London Metal Exchange zinc price gains and losses, has been taken...Read More
Annual benchmarks for zinc concentrate treatment charges (TCs) have been set at $147 per tonne, a 12-year low, Europe's largest zinc smelter Nyrstar said on Thursday May 3.At $147 per tonne, the headline TC is the lowest since 2006 and is 14.5% lower than the $172-per-tonne benchmark settled for 2017.Nyrstar did not say at which base price terms had been...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Friday April 27Ferro-vanadiu...Read More
Summary of Glencore's production results for the first quarter of 2018(own-sourced output volume, year-on-year % change).Copper 345,400 tonnes, +7% Zinc 242,700 tonnes, -13% Lead...Read More
Glencore produced 7,000 tonnes of cobalt in the first quarter of 2018, up 11% from 6,300 tonnes in the same quarter of last year, according to the company's production report on Thursday May 3.Production from its African copper assets contributed 6,100 tonnes of cobalt in the first quarter compared with 5,700 tonnes in the corresponding period of 2017. The rise in production was reflective of a 50...Read More
The Turkish deep-sea scrap markets have been quiet on Thursday May 3 while steel mills in the country and their scrap suppliers continued to negotiate prices for cargoes to be delivered in May.The steel producers have so far booked around 20 deep-sea cargoes for May, and have seen an uptick in offer prices. They then went quiet in the deep-sea markets at the end of last week.Current offer prices f...Read More
Comex copper prices were spurred higher during the morning session on Thursday May 3 after the US Federal Reserve decided to maintain the Fed Funds rate, pressuring the dollar lower. Copper for July settlement on the Comex division of the New York Mercantile Exchange gained 2.35 cents or 0.8% to $3.0920 per oz. "The blip higher in the LME copper price this morning is encouraging though buyers need...Read More
Summary of Glencore's production results for the first quarter of 2018(own-sourced output volume, year-on-year % change).Copper 345,400 tonnes, +7% Zinc 242,700 tonnes, -13% Lead...Read More
Base metals prices on the London Metal Exchange were for the most part little changed on the morning of Thursday May 3, with copper prices up just 0.1% at $6,825 per tonne.The exceptions were zinc prices, which were down by 1% at $3,080 per tonne, and lead prices that were up by 0.5% at $2,290 per tonne.Volume on the LME has been average, with 6,196 lots traded as at 07.02 am London time. This fol...Read More
Domestic prices for hot-dipped galvanized coil (HDG) in the EU were largely unchanged this week, with buyers slowly returning to the market after public holidays in the region, sources have told Metal Bulletin.Meanwhile, they said on Thursday May 3, the market trend in Europe will remain unclear until the European Commission (EC) comes to a decision in a safeguard case.The EC started a probe into...Read More
China's domestic hot-rolled coil prices ran largely flat on Thursday May 3 as weaker futures offset lower inventory data.DomesticEastern China (Shanghai): 4,180-4,200 yuan ($657-660) per tonne, narrowed up 20 yuan per tonneNorthern China (Tianjin): 4,080-4,100 yuan per tonne, unchanged Softer futures but lower inventories kept prices virtually unaltered from those on Wednesday, mark...Read More
Ferrous futures in China were down during morning trading on Thursday May 3, with sentiment turning more cautious among market participants after a bullish start to the working week.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,688 yuan ($579) per tonne, down 25 yuan per tonne October hot-rolled coil: 3,770 yuan per tonne, down 16 yuan per tonne Dalian Commodi...Read More
The purchasing managers' index (PMI) for the Eurozone manufacturing sector fell to a 13-month low in April this year due to a slowdown in growth across five of the eight nations covered, data supplier IHS Markit said on Wednesday May 2.The final rating for April was 56.2, down from 56.6 in March, after the sector experienced its fourth consecutive rating fall so far this year.A figure higher than...Read More
The price of steel billet imported into Egypt increased slightly this week while local rebar prices were unchanged, sources told Metal Bulletin on Thursday May 3.The country's biggest producer, Ezz Steel, is still offering rebar at E ?12,528 ($707) per tonne ex-works, including 14% VAT, while Beshay Steel, also a major domestic producer, is offering rebar...Read More
Turkish domestic prices for rebar and wire rod have recovered by $10-15 per tonne because of stronger demand over the past week, sources said on Thursday May 3.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $570-580 per tonne ex-works, compared with last week's $555-570 per tonne.The domestic prices climbed in line with the strengthening of the US dollar against the Turk...Read More
Export prices for pig iron from the Commonwealth of Independent States have weakened again because of low demand in key markets, sources have told Metal Bulletin.Trading activity was also affected by May Day public holidays in Europe and the CIS region.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region was $365-385 per tonne fob Black Sea on Thursday May 3, na...Read More
The Turkish deep-sea scrap markets have been quiet on Thursday May 3 while steel mills in the country and their scrap suppliers continued to negotiate prices for cargoes to be delivered in May.The steel producers have so far booked around 20 deep-sea cargoes for May, and have seen an uptick in offer prices. They then went quiet in the deep-sea markets at the end of last week.Current offer prices f...Read More