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
The latest metal markets news and price moves to start the North American day on Thursday May 3. Base metals on the London Metal Exchange were broadly positive during morning trading, with copper leading the complex's blanket gains after climbing 1.1%."The base metals have been looking weak, but some dip-buying has emerged today, with the likes of nickel, aluminium and copper seeing buying over th...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Thursday May 3. Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Thursday May 3. Base metal prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Thursday May 3 amid continued strength in the dollar, with only alu...Read More
Chris Eger will step down from his role as chief financial officer with miner and metals supplier Nyrstar in the summer, the company said on Thursday May 3.Eger has been at Nyrstar for two-and-a-half years since joining the company from Trafigura."Chris has communicated to the board over recent months that he has decided to...Read More
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
Base metals on the London Metal Exchange were mostly lower at the close of trading on Thursday May 3, with zinc breaking below $3,000 per tonne and diving to its lowest point since August 2017. Zinc kept steady early in the day but took a 1.3% drop prior to the close after spending much of the week consolidating around the $3,050-$3,100-per-tonne mark.A delivery of more than 60,000 tonnes was ship...Read More
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
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
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
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
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
The latest metal markets news and price moves to start the North American day on Thursday May 3. Base metals on the London Metal Exchange were broadly positive during morning trading, with copper leading the complex's blanket gains after climbing 1.1%."The base metals have been looking weak, but some dip-buying has emerged today, with the likes of nickel, aluminium and copper seeing buying over th...Read More
Base metals on the London Metal Exchange were broadly positive during morning trading on Thursday May 3, with copper leading the complex's blanket gains after climbing 1.1%. Base metals on the London Metal Exchange were broadly positive during morning trading on Thursday May 3, with copper leading the complex's blanket gains after climbing 1.1%.The red metal has gathered support during the morning...Read More
Buying activity for imported flat-rolled steel might slow in the United States, due to deep uncertainty around steel prices created by the Section 232 tariffs and quotas.Prices for imported flat-rolled steel are in a wide range, with some countries making offers inclusive of 232 tariffs while others did not account for the trade duties.Buyers and sellers seemed unable to agree on the direction for...Read More
Crude steel output in Colombia dropped by 26.96% year-on-year in March 2018, according to figures released by the Colombian Committee of Steel Producers earlier this week.Production totaled 85,348 tonnes for the month, compared with 116,855 tonnes in March 2017.On a monthly basis, March's crude steel output declined by 16.50%, from February's level of 102,214 tonnes.The reduction in the country's...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
Turkey exported 336,840 tonnes of flat steel products in March 2018, according to the Turkish Statistical Institute (TUIK).This volume was down by 30.47% year-on-year from the 484,463 tonnes exported in March 2017, the institute said.The total exported included 223,581 tonnes of hot-rolled flat steel, down by 35.78% year-on-year from 348,171 tonnes in March 2017.Cold rolled flat steel made up 13,1...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 and export billet prices have increased over the past week, which reflects a recovery both in demand and in domestic long steel prices, sources said on Thursday May 3.Metal Bulletin's weekly price assessment for domestic billet was $535-540 per tonne ex-works, narrowing upward from $530-540 per tonne last week.A weakening of the lira against US dollar was propelled domestic rebar...Read More