An overview of the minor metals markets and the reasons for any price moves.Read More
SHANGHAI, Apr 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDriven by US President Donald Trump's tempered remarks on Syria, the US dollar index rebounded to 89.7, up 0.28%, while most base metals closed lower. LME zinc tumbled 4% and SHFE zinc slipped 2% under pressure from market talk that China's State Reserve Bureau...Read More
The latest metal markets news and price moves to start the North American day on Friday April 13. Aluminium on the London Metal Exchange continues to trade at six-year highs during morning trading today, following a large cancelation in Asian warehouses.108,000 tonnes of aluminium have been freshly canceled in Port Klang this morning which is providing more support for prices, but stockpiles in Eu...Read More
SHANGHAI, Apr 13 (SMM) –Copper: As zinc prices tumbled, copper prices declined sharply. LME copper fell 1.31% and the SHFE 1806 contract dipped 0.94% overnight. In the technical aspect, LME copper struggled among the moving averages overnight and opened at the joint of the 10- and 20-day moving averages today as the KDJ indicator expanded downwards. The SHFE 1806 contract moved und...Read More
Good morning from Metal Bulletin's offices in Shangai as we bring you the latest news and pricing stories on Friday April 13. Tracking the rally seen on the London Metal Exchange in the previous session, aluminium prices on the Shanghai Futures Exchange pushed higher during Asian morning trading on Friday.A bout of panic buying in response to the sanctions placed on Russian aluminium producer UC R...Read More
The latest news and price moves to start the Asian day on Friday April 13.Aluminium prices on the London Metal Exchange soared to a six-year high on Thursday April 12 with the market continuing to react to recent US sanctions against Rusal, while the rest of the base metals complex fell. Read more in our live futures report.Here are how prices looked at Thursday's close:The sanctions on Rusal have...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsRio Tinto is declaring force majeure on some of its contracts after reviewing its arrangements with UC Rusal in light of US sanctions on the Russian aluminium producer.Rio Tinto plc is in a position to take advantage of a current squeeze in aluminium supply in the United Sta...Read More
Aluminium on the London Metal Exchange closed lower to end the week's trading on Friday April 13, after a record-breaking week that resulted in a six-year high and 9% price increase. The light metal's volumes recorded over 30,000 lots throughout the week, despite the price dropping 1.7% at the close of trading today. "Aluminium prices continue to push higher while the market scrambles t...Read More
Comex copper prices rebounded in the US morning on Friday April 13 amid growing optimism that seasonal demand trends will continue to support the red metal throughout 2018. Copper for May settlement on the Comex division of the New York Mercantile Exchange rose 2.05 cents or 0.7% to $3.0840 per lb. Trade has ranged from $3.0525 to $3.0925. The red metal has been unable to establish a firm price di...Read More
Seaborne iron ore prices rebounded on Friday April 13 to the $65-per-tonne-cfr mark amid gains in China steel and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $64.96 per tonne cfr Qingdao, up by $0.49 per tonneMetal Bulletin 58% Fe Premium Index: $52.37 per tonne cfr Qingdao, up by $0.11 per tonneMetal Bulletin 65% Fe Iron Ore Index: $82.20 per tonne cfr Qingdao, up by $0.5...Read More
Indian local secondary billet prices have risen by at least 1,700 rupees per tonne in the current week on increased demand from rebar mills.Prices for Indian domestic secondary billet, mainly produced through induction furnace route, on Friday April 13 were 35,000-35,200 rupees ($xx-xx) per tonne ex-mill, an increase of 1,700 rupees per tonne compared with Metal Bulletin's assessment last week of...Read More
Rio Tinto is declaring force majeure on some of its contracts after reviewing its arrangements with UC Rusal in light of US sanctions on the Russian aluminium producer. "As a result of the imposition of these sanctions, Rio Tinto is in the process of declaring force majeure on certain contracts and is working with its customers to minimize any disruption in supplies," Rio...Read More
Brazil's bauxite ore exports fell 11.1% in March from a year earlier, on lower volumes from both Minera????o Rio do Norte (MRN) and Alcoa's Juruti mine. Exports totaled 597,503 tonnes last month, against 671,882 tonnes in March 2017, according to the country's foreign trade ministry, MDIC.Yet on a monthly comparison, Brazil's bauxite export volumes increased 10% from February's level of 543,198 to...Read More
A round-up of news and price movements from one very significant week in the aluminium market. The aluminium market has spiraled out of control in the week since the US Treasury Department announced sanctions on Russian aluminium producer UC Rusal. Aluminium premiums set new highsA surge in liquidity and a continued scramble for non-Rusal material helped push the Metal Bulletin Rotterdam duty...Read More
Aluminium foundry alloy premiums have risen precipitously thanks to the sanctions placed on Russian oligarch Oleg Deripaska and UC Rusal by the US Department of the Treasury, barring the sale of Rusal metal in the United States. ...Read More
A round-up of the aluminium foundry alloy premiums over the past month from around the world.Read More
Lead recycler Recylex swung into profit in 2017, reporting net earnings of ?,?18 million ($22.2 million) thanks to soaring metal prices and higher output, the company said on Friday April 13.That compared with the annual loss of ?,?10.1 million in 2016, when the company was heavily affected by a fine imposed by the European Commission as a penalty for taking part in a price-fixing cartel."While th...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsRio Tinto is declaring force majeure on some of its contracts after reviewing its arrangements with UC Rusal in light of US sanctions on the Russian aluminium producer.Rio Tinto plc is in a position to take advantage of a current squeeze in aluminium supply in the United Sta...Read More
Slab export prices from Brazil increased this week, with producers reporting offers at higher levels while they focus on the North American market.Metal Bulletin's weekly price assessment of Brazil's slab exports went up to $600-610 per tonne fob on Friday April 13, compared with $580-590 per tonne fob a week earlier.Brazilian producers were eyeing prices of as much as $620 per tonne fob for June-...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Seaborne iron ore prices rebounded on Friday April 13 to $65 per tonne cfr amid gains in China's steel and futures markets.The East Asian country's focus on environmental protection continues to affect miners producing low-grade iron ore, which have had to offer price discounts on their products, althou...Read More