Zug-based AMR Trading has named ex-Rusal executive Alex Tattersall its new chief executive officer, while Vitaly Sidorov has taken the helm of parent company AMR-BK Group, which owns aluminium sheet and plate plant Belaya Kalitva in Russia. Tattersall, who left UC Rusal last month amid US sanctions imposed on the Russian producer, has overall sales and marketing responsibility for all exports...Read More
Concern in the market surrounding recent sanctions against Rusal pushed the Midwest premium higher this month to widen the import aluminium arbitrage between Asia and the United States. The differential between canceling aluminium from London Metal Exchange warehouses in Asia and shipping the material into the US Midwest increased for the third month in a row. With the estimated arbitrage fo...Read More
The latest metal markets news and price moves to start the North American day on Wednesday May 2. Base metals prices on the London Metal Exchange were mostly up during morning trade, after participants in China and Europe returned from public holidays to boost volumes and prices. "The much anticipated return of the Chinese traders had the desired and expected effect as value bids helped bolster pr...Read More
The Brazilian steel sector has agreed to the US government's offer to set quotas for steel shipments into that country, thus avoiding a 25% tariff resulting from the US Section 232 investigation. Producers have agreed to limit their exports to 70% of the 2015-17 average for finished steel products and 100% of the three-year average for semi-finished steel products, although the final details about...Read More
South American steelmaker Gerdau's Peruvian subsidiary, Siderper??, has reported a near four-fold increase in its net profit for the first quarter of 2018, amid higher prices and increased shipment volumes.Its net profit totaled 42.40 million nuevos soles ($13 million), against 11.01 million nuevos soles a year before, it said in a note sent to national securities...Read More
Ukrainian steelmaker Metinvest has managed to increase pig iron exports by raising its production rate while decreasing production of merchant steel slab, the company said in its operational report for the first quarter of 2018.In January-March, Metinvest produced 474,000 tonnes of merchant pig iron. Traditionally, the company exports all its pig iron output.That figure was 14% higher than in the...Read More
Turkey imported 682,071 tonnes of flat steel in March 2018, down by 6.26% year-on-year from 727,647 tonnes in March 2017, according to the Turkish Statistical Institute (TUIK).Import volumes are expected to decrease further because of an investigation into the country's steel imports that started last week, and which will include hot-rolled coil (HRC), cold-rolled coil (CRC), coated coils, and all...Read More
Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe have widened downward week on week because of reduced demand, sources said on Wednesday May 2.Public holidays in several European countries this week have contributed to a drop in market activity.Southern European domestic prices for mesh-quality wire rod fell ?,?5 per tonne at the lower end of th...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob ChinaEurope- APT, cif Rotterdam- Ferro-tungsten, in-warehouse Rotterdam...Read More
Key data from the Wednesday May 2 pricing session in Europe.Key drivers - The ferro-titanium spot market has moved up in its trading range and about 600 tonnes of alloy was reported to have been traded. - All of the tonnage was reported sold at above $5 per kg delivered duty paid. There is a persistent divergence between what producers are reported being traded and what is being assessed by trader...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday May 2:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.30-12.45 per lb from $12.30-12.55 Ferro-molybdenum basis...Read More
The following Metal Bulletin minor metals prices changed on Wednesday May 2:Minor metals Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 51,000-51,500 yuan per tonne from 51,500-52,000 yuan...Read More
Brazilian iron ore export volumes increased by more than 7% year on year in April, according to figures released by national foreign trade ministry MDIC on Wednesday May 2.Iron ore shipments totaled 25.88 million tonnes last month versus 24.05 million tonnes in the same month last year.But export revenue fell by 8.6% to $1.48 billion from $1.62 billion in the same comparison...Read More
The Turkish deep-sea scrap import market remained quiet on Wednesday May 2, after a break for public holidays in Turkey and across much of Europe on May 1, but steel mills were still expected to book more cargoes for May delivery.Turkish steel mills have booked more than 20 deep-sea cargoes for May delivery so far, and more cargoes are expected to be bought in the next few days, according to marke...Read More
The seaborne iron ore market picked up after the May 1 public holiday, following the announcement by steel mills of price hikes for early May shipments. Metal Bulletin 62% Fe Iron Ore Index: $66.98 tonne cfr Qingdao, up by $1.55 per tonne Metal Bulletin 58% Fe Premium Index: $55.94 per tonne cfr Qingdao, up by $0.46 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.30 per tonne cfr Qi...Read More
Holidays in Turkey and across much of Europe for the traditional May 1 Labor Day meant that there was little change in prices for Turkish imports of deep-sea scrap from European and US suppliers, sources said on Tuesday May 1.Renewed business activity is expected later in the week when traders return to work, they added.Market sentiment is cautious about how much more prices may increase in the ne...Read More
The seaborne coking coal spot market was stable on Wednesday May 2, although market sentiment was generally more positive."The market had earlier fallen too much, and this is a normal correction," a trading source said. Premium low-vol cargoes with May and June laycan were heard offered against index with 4% premium, according to a northeastern end user. "We haven't started offering yet...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreRio Tinto, tender, 170,000 tonnes of...Read More
Comex copper prices bounced-back Wednesday morning in the US with the complex oversold after a five-day rout.Copper for July settlement on the Comex division of the New York Mercantile Exchange recovered 3.05 cents - or 1% - to $3.0680 per lb. "We are seeing a slight bounce in metals prices today, partly...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday May 2*Copper -$74.53 (-475.02 yuan) Aluminium -$498.71 (-3,178.71 yuan) Zinc -$33.53 (-213.7 yuan) Nickel -$259.31 (-1,652.79 yuan) *Metal Bulletin calculates the physical arbitrage for import...Read More