Tharisa has reported a record quarterly production of 367,000 tonnes of chrome concentrate in the three months to March 31.The figure represents a slight increase compared with the December quarter and a production volume of 315,000 tonnes in the same period of 2017. The South African miner also reported a 15% increase in half-year production to 737,000 tonnes.The average contract metallurgical ch...Read More
Turkish steel mills resumed their deep-sea scrap purchases on Wednesday April 11, with slightly lower prices from Baltic Sea suppliers.A steel producer in the Izmir region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $352 per tonne and bonus at $362 per tonne cfr on Wednesday.The supplier said that they are still discussing the tonnages with the mill, but the cargo was scheduled for th...Read More
The Algerian government has approved the sale of a 49% stake in the state-owned El-Hadjar Iron & Steel Complex to United Arab Emirates-based steel and construction company Emarat Dzayer, the Algerian prime minister's office said late on Tuesday April 10.The deal will include investment of more than 160 billion Algerian dinars ($1.39 billion) in new steel production at the El-Hadjar plant, located...Read More
Physical iron ore prices softened on Wednesday April 11 amid a retreating futures market in China.Metal Bulletin 62% Fe Iron Ore Index: $64.79 per tonne cfr Qingdao, down by $0.51 per tonneMetal Bulletin 58% Fe Premium Index: $52.51 per tonne cfr Qingdao, down by $0.24 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, down by $1 per tonneMetal Bulletin 62% Fe China Port...Read More
Chinese buyers continued to drive the illiquid seaborne coking coal market, with the latest transaction being concluded just below $200 per tonne cfr China.A cargo of premium hard coking coal was traded at around $197 per tonne cfr China on Wednesday April 11, market sources told Metal Bulletin. A higher-ranked cargo of materials in the same segment was also heard offered at around $192 per tonne...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 transaction: iron oreIron oreRio Tinto, tender, 190,000 tonnes of 61% Fe Pilbara Blend fines, sold...Read More
China's focus on environmental protection continues to affect miners producing low-grade iron ore that have had to offer price discounts on their products, though some believe that Chinese mills' narrowing margins could alter market dynamics. On Monday April 9, Australia's Atlas Iron announced its acquisition by compatriot miner Mineral Resources.The acquisition follows Atlas's plans to increase t...Read More
China's ferrous futures trended down across the board during morning trading on Wednesday April 11 after posting gains during Tuesday night's session.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,392 ($5) per tonne, down 63 yuan per tonne October hot-rolled coil: 3,474 yuan per tonne, down 69 yuan per tonne Dalian Commodity Exchange September iron ore: 452.50...Read More
The latest metal markets news and price moves to start the North American day on Wednesday April 11. The latest metal markets news and price moves to start the North American day on Wednesday April 11. Base metals prices on the London Metal Exchange continued to rise during morning trading, with aluminium's momentum continuing to eclipse the rest of the complex. "Aluminum continues to be the main...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday April 11* Copper -$128.95 (-811.69 yuan) Aluminium -$509.32 (-3,205.99 yuan) Zinc -$71.33 (-448.99 yuan) Nickel -$569.03 (-3,581.82 yuan) *The physical arbitrage numbers...Read More
Base metals prices on the London Metal Exchange continued to rise during morning trading on Wednesday April 11, with aluminium's momentum continuing to eclipse the rest of the complex. "Aluminium continues to be the main story, and is dominated by recent sanctions against Rusal. If that material is not deliverable on the LME, I expect current sentiment to continue," Geordie Wilkes, head of researc...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday April 11 pricing session in London.Key drivers: - Lack of crude raw material leads to lower output - Tomb-sweeping Day holiday in China from April 5-7...Read More
The following Metal Bulletin minor metals prices changed on Wednesday April 11:Minor metalsAntimony MB free market regulus, $/tonne: $8,450-8,550 per tonne from $8,500-8,600 per tonneAntimony MMTA standard grade II, $/tonne: $8,400-8,550 per tonne from $8,450-8,550 per tonneAntimony MB Chinese free market MMTA standard grade II,...Read More
Huayou New Energy, a full subsidiary of Huayou Cobalt, and LG Chem will invest in two joint ventures in Quzhou and Wuxi, China, respectively, to produce lithium-ion battery materials, according to a statement filed on the Shanghai Stock Exchange on Tuesday April 10.With a total investment of $159 million, Huajin New Energy Materials Co., Ltd will be located in Quzhou, Zhejiang province, and will b...Read More
Base metals prices on the London Metal Exchange are consolidating this morning, Wednesday April 11, following a strong recovery in the previous session.Copper and nickel were down by 0.5% and 0.4% respectively at the time of writing, while the rest were mostly unchanged - the exception being tin which was up by 0.5% at $21,030 per tonne.Volumes traded were somewhat lighter than usual, with 5,647 l...Read More
Stainless steel prices in Asia are likely to remain bearish on expectations of continued low demand in the second quarter of the year, while prices in North America are likely to be supported by the Section 232 import tariffs in the United States.Asian outlook bearishEast Asian import prices for stainless steel are likely either to decline further or to hold relatively steady at low levels during...Read More
Japan's Ministry of Economy, Trade & Industry expects demand for steel to increase by 1.8% year on year in the April-June period - the first quarter of the country's 2018 financial year.The ministry said the rise would occur due to higher demand from the manufacturing and exports sector.Demand for steel in the manufacturing sector is expected to be boosted by a rise in industrial machine...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday April 11:Aluminium scrapGroup 1 pure 99% & litho: ?1,360-1,410 per tonne from ?1,340-1,390...Read More
(Kitco News) - Investors are on a buying spree and their preferred choice in these uncertain times is gold ETFs.The popularity of gold-backed exchange-traded funds is at its highest level since 2013, Bloomberg reported.On Monday, the gold ETFs tracked by the financial media company were on the fourth day of straight gains, the longest green streak since January.One of the shining examples is Frank...Read More