Key data from the Wednesday March 7 pricing session in Europe. Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeTodayPreviousChange to midpoint of rangeMidpoint % change4.85.400 Titanium scrap turnings, unprocessed (max 0.5% Sn) $ per lb, cif European portsTodayPreviousChange to midpoint of rangeMidpoint % change0.95-10.95-100Titanium scrap turnings, unprocessed (0.5-2%...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday March 7:Noble alloys Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $30.80-31.80 per kg from $31.00-31.30 Ferro-molybdenum MB Chinese free market concentrate, yuan/mtu: 1,680-1,700...Read More
Turkish steel mills have booked more deep-sea scrap for April, with prices rising slightly on strong demand for rebar and billet in the domestic market, sources told Metal Bulletin on Wednesday March 7."Steel mills have already sold a number of billet cargoes to the domestic market at around $585-590 per tonne ex-works," a Turkish source said."Rebar demand in the domestic market is also strong, [s...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, 170,000 tonnes of 61% Fe Pilbara Blend fines, sold at $73.42 per tonne cfr China, laycan April 4-13.Vale, Global Ore, 280,000...Read More
Japanese buyers of seaborne coking coal will have to pay a higher price for their January-March volumes in comparison with the preceding quarter, with the emergence of fresh supply concerns last month leading to an uncertain outlook for prices in the coming quarter. Metal Bulletin's fob Australia Premium Hard Coking Coal Index averaged $236.07 per tonne over the December-February period, up 23% co...Read More
Iron ore prices fell further on Wednesday March 7 after a seaborne cargo changed hands at a lower price. Metal Bulletin's 62% Fe Iron Ore Index Today: $75.84 per tonne cfr QingdaoDaily change: down by $0.23 per tonneMonth-to-date average: $77.33 per tonneMetal Bulletin's 58% Fe Premium Index Today: $60.33 per tonne cfr QingdaoDaily change: down by $0.23 per tonneMonth-to-date average: $61.08 per.....Read More
Iron ore prices fell further on Wednesday March 7 with a cargo of seaborne materials changing hands below $75 per tonne cfr China.Key driversChina's ferrous futures tumbled across the board during the day, with the benchmark contracts shedding 0.5-2.4% of their values compared with the settlement prices on Tuesday.The country's spot rebar and hot-rolled coil prices also fell 20-50 yuan ($3.20-7.90...Read More
The stalemate in the seaborne coking coal market is starting to break, with some sellers lowering their asking price on Wednesday March 7 amid an abundance of premium materials on offer. "If Chinese end-users don't come out to buy, then the market is going to fall," an Indian trader source said. An East Asian mill source said that end-users had been quiet because they thought that there was nothin...Read More
Iron ore exports from Port Hedland in Western Australia dipped to their lowest level in seven months in February 2018, despite showing a year-on-year increase.The port shipped 38.50 million tonnes of the steelmaking raw material last month, up 7.9% from a 13-month low of 35.67 million tonnes in February 2017.But this was down 6.2% from January's 41.06 million tonnes, and the lowest level...Read More
Coal shipments from Australia's metallurgical coal hub of Queensland fell 4.4% on the year in February. Ports in the Australian state shipped 15.98 million tonnes of coal - including some thermal coal - last month, compared with 16.71 million tonnes a year earlier, according to the latest data...Read More
Base metals prices on the London Metal Exchange were lower across the board during morning trading on Wednesday March 7 - with nickel diving 1.6%.The three-month nickel price is continuing to have another rollercoaster month - it gained $260 per tonne at the close on Tuesday but is now trading $275 lower. "The new threat of trade wars and regional tariffs seems to have [unnerved] consumers in the...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday March 7*Copper -$86.77 (-550.08 yuan) Aluminium -$442.06 (-2,802.38 yuan) Zinc -$91.32 (-578.9 yuan) Nickel -$536.4 (-3,400.45 yuan) *Metal Bulletin calculates the physical...Read More
China's hot-rolled coil prices decreased at a faster pace on Wednesday March 7 following a weakening of the country's ferrous futures market throughout the day.DomesticEastern China (Shanghai): 4,050-4,070 yuan ($640-643) per tonne, down by 50 yuan per tonneNorthern China (Tianjin): 3,990-4,010 yuan per tonne, down by 50 yuan per tonneThe paper market tumbled after sentiment deteriorated in antici...Read More
The following Metal Bulletin minor metals prices changed on Wednesday March 7:Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 53,000-53,500 yuan per tonne from 52,000-52,500 yuan Bismuth MB free market, $/lb: $5.20-5.40 per lb from $5.05-5.40...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Chinese cobalt prices have remained stable so far this week, though deal prices for domestically-produced metal dipped after the rally in international cobalt prices faltered late last week.Metal Bulletin assessed the Chinese cobalt metal price at 620,000-650,000 yuan per tonne (equivalent to $37.97-39.80 per lb VAT-free) on Wednesday March 7, unchanged from the previous assessment on March 2. Spo...Read More
Copper demand derived from the shift to electric vehicles (EV) is expected to be constrained by availability of other key metals, including cobalt, a panelist said at Metal Bulletin's 31st International Copper Conference in Madrid on Wednesday March 7. "That demand for copper will only be required if we can find other elements. If we don't have other things, we can't even produce the electric cars...Read More
Base metals traded on the London Metal Exchange are down across the board by an average of 0.3% this morning, Wednesday March 7. Nickel leads the decline with a 0.9% drop to $13,520 per tonne, while the rest are off between less than 0.1% and 0.3%, with three-month copper prices at $6,977 per tonne.Volume has been average with 6,272 lots traded as of 06.48am London time. Precious metals prices are...Read More
All MB non-ferrous UK scrap and foundry ingot prices were unchanged on Wednesday March 7.Read More
China announced that it had terminated steel production in all the country's illegal induction furnaces by the end of June last year. The majority of the operators in China are primarily small size private mills that use low quality scrap to produce substandard rebar. These rebars are mixed with grade III (HRB400) rebar and sold at a discount to construction contractors. For a long period, the gov...Read More