The latest news and price moves to start the Asian day on Thursday April 5.Base metals prices on the London Metal Exchange dropped throughout the day on Wednesday April 4, with sentiment remaining low after trade tensions between the United States and China escalated. Read more in our live futures report.Here are how prices finished Wednesday afternoon.With a widening differential between Chinese...Read More
The latest news and price moves to start the Asian day on Thursday April 5.Base metals prices on the London Metal Exchange dropped throughout the day on Wednesday April 4, with sentiment remaining low after trade tensions between the United States and China escalated. Read more in our live futures report.Here are how prices finished Wednesday afternoon.With a widening differential between Chinese...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Thursday April 5, with copper's three-month price gaining 1.5%."Industrial metals reacted broadly positive as investors assess the outlook for US-China trade tensions while both major economies signal willingness to negotiate," John Meyer, SP Angel analyst said."Copper regained [momentum] on the announcem...Read More
Comex copper prices bounced back in US morning trading on Thursday April 5 amid easing tensions between the United States and China. Copper for May settlement on the Comex division of the New York Mercantile Exchange jumped 6.65 cents or 2.2% to $3.0770 per lb. "We remain modestly constructive on metals going into April, as we suspect...Read More
Cesco Week, the annual copper industry gathering in Santiago, starts on Sunday in the Chilean capital, with some 2,000 local and international market participants in attendance to discuss the outlook for copper prices and mining as a whole.Here is a list of the events and functions scheduled for the week.Please note that events are private receptions and admission is strictly by invitation only.Su...Read More
Did you catch Metal Bulletin's recent web seminar on key factors driving the battery raw materials markets? If you missed it, follow the link below to listen to the free recording: What's driving the battery raw materials market? During the web seminar, members of Metal Bulletin's global battery raw materials team discussed: EV subsidies and government policy in China and beyond Changes...Read More
Miner South32 has signed a 2018 annual lead concentrate supply contract with at least one major smelter, which includes a 21.4% drop in headline treatment charges. South32's deal, which supplies lead concentrates from its Cannington mine in Australia, sets headline treatment and refining charges (TC/RCs) at $98 per tonne/$0.60 per oz, against $124.70/$1 in 2017, sources with knowledge of the matte...Read More
JXTG, Japan's energy and metal conglomerate, expects to post an impairment loss of 65 billion yen ($606.8 million) for its Chilean Caserones copper project following a series of production problems last year. The 65 billion yen bill was attributed to changes in the mining plan due to a fault in an ore pit and a review on long-term production plan, the majority owner of Caserones copper mine said o...Read More
Did you catch Metal Bulletin's recent web seminar on key factors driving the battery raw materials markets? If you missed it, follow the link below to listen to the free recording: What's driving the battery raw materials market? During the web seminar, members of Metal Bulletin's global battery raw materials team discussed: EV subsidies and government policy in China and beyond Changes...Read More
Did you catch Metal Bulletin's recent web seminar on key factors driving the battery raw materials markets? If you missed it, follow the link below to listen to the free recording: What's driving the battery raw materials market? During the web seminar, members of Metal Bulletin's global battery raw materials team discussed: EV subsidies and government policy in China and beyond Changes...Read More
Turkish steel mills went through Thursday April 5 with no deep-sea bookings and prices remaining stable, according to sources in the market.The most recent deal was for a Baltic Sea cargo sold at $356 per tonne cfr for HMS 1&2 (80:20), $361 per tonne for HMS 1&2 (90:10) and shredded,...Read More
Comex copper prices bounced back in US morning trading on Thursday April 5 amid easing tensions between the United States and China. Copper for May settlement on the Comex division of the New York Mercantile Exchange jumped 6.65 cents or 2.2% to $3.0770 per lb. "We remain modestly constructive on metals going into April, as we suspect...Read More
Base metals prices on the London Metal Exchange are mixed this morning, Thursday April 5. The main movers are nickel, with prices up by 0.6% at $13,230 per tonne, and zinc where prices are down by 0.5% at $3,237 per tonne. Copper prices are up by 0.1% at $6,721 per tonne.Volume has been light with 2,187 lots traded as of 06.46 am London time, this because China is off for the rest of the week to m...Read More
Major Indonesia producer PT Krakatau Steel is maintaining its June 2018 start-up date for its new blast furnace, a company official told Metal Bulletin on April 5."The company will keep to the June 2018 date and there will be no delays," the official said, dismissing persistent market chatter that the blow-in could be delayed until 2019.The new 1.2 million tonnes per year blast furnace is located...Read More
Japan's Kobe Steel plans to increase its automotive steel production to meet growing demand for such steel, and is targeting to a February 2021 start-up for a 240,000-tonnes-per-year continuous annealing line for steel sheet at its Kakogawa Works.The move is prompted by expectations of growing demand for high-strength and lightweight car bodies."Rising demand for automotive high-strength steel and...Read More
The executive board of Italian steel association Federacciai has chosen Alessandro Banzato to be its next president, it announced this week.Banzato, who is chairman and chief executive officer of Italian steelmaker Acciaierie Venete, will hold the position for two years, Federacciai said on...Read More
The merger between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia was concluded on Sunday April 1, resulting in the creation of the country's largest long steel mill, with output capacity for around 5 million tonnes per year."We become more competitive in a market that is very challenging," the chief executive officer of ArcelorMittal Long Carbon Central & South Americas,...Read More
China has requested consultations with the United States under the Dispute Settlement Mechanism of the World Trade Organization (WTO) regarding tariffs settled on Chinese goods, the WTO said on Thursday April 5.China made the request after the US government released a proposed tariff list on April 3, naming 1,300 Chinese goods that the US administration...Read More
The export market for CIS-origin pig iron was quiet in the week ended Thursday April 5 because of the Easter holidays in the United States and Europe."There is no activity in the US due to Easter and the expectations of scrap market price [movements] in April," a source close to pig iron suppliers told Metal Bulletin.In the US, the offer price for low-manganese pig iron was $425 per tonne cfr. Tha...Read More
Turkish steel mills went through Thursday April 5 with no deep-sea bookings and prices remaining stable, according to sources in the market.The most recent deal was for a Baltic Sea cargo sold at $356 per tonne cfr for HMS 1&2 (80:20), $361 per tonne for HMS 1&2 (90:10) and shredded,...Read More