Prices in the light iron scrap market in the United Kingdom edged downward by ?5 per tonne on Thursday March 29, bringing last week's predictions by traders of imminent price falls to reality.Weaker export markets made larger merchants lower their prices, leading to the first drop in prices for four weeks, after three weeks of stability.Metal Bulletin's price assessment for UK grade-5C ferrous sc...Read More
Prices for containerized shredded scrap imported into India have fallen by around $5 per tonne this week with a continued freeze in trading activity, market sources told Metal Bulletin on Thursday March 29.Indian steel markets have been affected by low Chinese steel prices and the imposition of import tariffs by the United States in recent weeks, and uncertainty over the future direction of the gl...Read More
Turkish steel mills went quiet again in the scrap markets on Thursday March 29, after news of a European cargo changing hands at steady prices was heard the day before.A steel mill in the Marmara region had booked the European cargo, comprising 5,000 tonnes of HMS 1&2 (75:25), 20,000 tonnes of shredded and 5,000 tonnes of bonus at an average price of $375 per tonne cfr on March...Read More
The UK inter-merchant price range for austenitic alloy steel products fell by ?20-30 per tonne this week, with the price of nickel falling over the week, sources said on Thursday March 29.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?930-980 ($1,314-1,385) per tonne delivered on Thursday, compared with ?960-1,000 per tonne on March 23."Material is...Read More
Brazilian pig iron export prices remained at high levels this week, with producers reporting positive market conditions."Prices are on an upward trend," a Brazil-based source told Metal Bulletin on Thursday March 29.This bullish scenario is explained by improved demand, according to market participants, as well as the effects of the steel import tariffs of 25% recently imposed by the United States...Read More
Iron ore prices recovered to $65 per tonne cfr China on Thursday March 29, despite limited physical trading in China.Metal Bulletin's 62% Fe Iron Ore Index Today: $64.99 per tonne cfr Qingdao Daily change: up by $1.87 per tonneMonth-to-date average: $70.20 per tonneMetal Bulletin's 58% Fe Premium Index Today: $52.00 per tonne...Read More
Seaborne coking coal prices remain under pressure, with China's domestic market for the steelmaking raw materials also losing steam, sources told Metal Bulletin on Thursday March 29. A cargo of premium low-vol hard coking coal was heard offered around $199 per tonne cfr China during the day. "With metallurgical coke prices dropping in China, it is only natural that coking coal prices should retrea...Read More
China's hot-rolled coil futures surged on Thursday March 29 but thin buying interest kept spot prices from rising much further after two days of steady gains.DomesticEastern China (Shanghai): 3,780-3,800 yuan ($601-604) per tonne, narrowed upward by 20 yuan per tonneNorthern China (Tianjin): 3,740-3,760 yuan per tonne, unchangedData released by a local industry information provider showed a sharp...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Thursday March 29 with the market gearing up for a long weekend. Lead and aluminium prices bucked the trend, with the former dipping back to $2,025 per tonne following a large delivery into LME-listed warehouses. 30,075 tonnes of aluminium was delivered into Port Klang - meaning on-warrant stock there have...Read More
China's domestic rebar prices ran flat on Thursday March 29 due to inactive trading.Domestic Eastern China (Shanghai): 3,460-3,540 yuan ($550-563) per tonne, unchanged Northern China (Beijing): 3,680-3,700 yuan per tonne, unchanged End-users cut procurement rates during the day after they bought actively in the past few days, market sources said. Traders have been able to keep prices stable despit...Read More
Selenium prices in Europe continued to hit fresh highs this week, climbing to their strongest level since January 2015."Selenium doesn't seem to be stopping," a trader said, adding, "India has been buying again and the sentiment is still positive."Metal Bulletin assessed selenium free market in-warehouse prices at $23-25.50 per lb on Wednesday March 29, up 1% from the previous assessment.Selenium...Read More
Base metals prices on the London Metal Exchange are for the most part stronger today, Thursday March 29, with prices up by an average of 0.6%. Nickel leads the advance with a 2% rise to $13,300 per tonne, while copper is up by 1% at $6,732 per tonne.Volume has been high with 12,789 lots traded as of 07.56am London time. This morning's strength builds on recent consolidation, with most of the metal...Read More
The base price assessments for flat and long stainless steel products in Europe remained stable this week amid strong competition between stockholders, sources told Metal Bulletin on Thursday March 29.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet was ?,?1,050-1,130 ($1,299-1,397) per tonne delivered in Northern Europe on Thursday, unchanged...Read More
China's ferrous futures experienced a third morning of gains on Thursday March 29 after big losses toward the end of last week after both the country and the United States announced fresh tariffs against each other's products.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,260 yuan ($518) per tonne, up 42 yuan per tonne May hot-rolled coil: 3,616 yuan per tonne,...Read More
Persistently low buying interest in East Asia, inventory pressures in China, and falling nickel prices continued to push down the region's stainless steel market over the past week.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed CRC was $2,090-2,180 per tonne cif East Asian ports for the week ended Wednesday March 28, down $70-80 per tonne from a week earlier. Metal B...Read More
The European aluminium secondary market has set a fresh 2018 low for the seventh straight week due to falling London Metal Exchange and scrap prices as well as increased availability. Metal Bulletin's assessment of secondary aluminium 226 diecasting ingot prices fell to ?,?1,760-1,810 ($2,176-2,238) per tonne on Thursday March 29, down from ?,?1,790-1,840 per tonne on March 23. "It is a stran...Read More
Import prices for containerized heavy melting scrap (HMS) in Taiwan fell further this week with re-rollers holding off on purchases due to bearish sentiment in the market.Metal Bulletin's price assessment for Taiwanese imports of HMS 1&2 (80:20) from the United States was $340-345 per tonne cfr on Thursday March 29, down $15 per tonne from a week earlier.Traders in Taiwan said they did not conclud...Read More
(Kitco News) - This could be a good time to invest in gold as the risk to the precious metal’s prices is “firmly” to the upside, according to Capital Economics.Gold stands to benefit greatly from any escalation in trade war fears, as an increase in tensions will lead to investors selling riskier assets and buying safe-haven options, said Capital Economics’ commodities econo...Read More
Nickel Carry Call – BUY Nickel at CMP 853.50 for Target 865 – 870 with SL below price 845AFTER POST CONTENT Read More
Nickel Carry Call – BUY Nickel April at CMP 853.50 for Target 865 – 870 with SL below price 845AFTER POST CONTENT Read More