Comex copper prices saw minor profit-taking in the US morning on Tuesday January 30, with the red metal unable to establish a clear price direction over the past week. Copper for March settlement on the Comex division of the New York Mercantile Exchange fell 0.50 cents or 0.2% to $3.1890 per lb. "We are positive on copper over the very short term, expecting...Read More
Iron ore prices tumbled below $73 per tonne cfr China on Tuesday January 30 after a drop in billet prices, with trades concluded at lower prices than a week ago. Metal Bulletin's 62% Fe Iron Ore Index Today: $72.97 per tonne cfr Qingdao Daily change: down by $1.36 per tonne Month-to-date average: $75.97 per tonne Metal Bulletin's 58% Fe Premium Index Today: $59.70 per tonne cfr...Read More
Turkish steel mills have returned to the deep-sea scrap markets for March cargoes and the prices have fallen further at the recent transactions, sources said on Tuesday January 30.The mills had been widely expected to book more cargoes for delivery in February, but no such deals have been reported.Instead, after a short period of negotiation, the mills in the country booked two deep-sea cargoes fr...Read More
Metal Bulletin proposes to discontinue two assessments of zinc premiums in the European market.Metal Bulletin proposes to discontinue the zinc premium, 99.995% purity, Rotterdam, duty-unpaid FCA, $ per tonne and the zinc premium, 99.995% purity, Antwerp, duty-unpaid FCA, $ per tonne.The two prices are currently assessed on a weekly basis and published every Tuesday. The proposal has been raised am...Read More
Copper miners, including Freeport-McMoRan and Antofagasta, have made big cuts to copper concentrate tonnages and in some cases altered side terms for material delivered against benchmark treatment and refining charge (TC/RC) terms this year, despite the market rallying around a single number after a tense set of negotiations.Chinese smelters have stood firm behind a single number TC/RC of $82.25 p...Read More
Comex copper prices saw minor profit-taking in the US morning on Tuesday January 30, with the red metal unable to establish a clear price direction over the past week. Copper for March settlement on the Comex division of the New York Mercantile Exchange fell 0.50 cents or 0.2% to $3.1890 per lb. "We are positive on copper over the very short term, expecting...Read More
Metal Bulletin is proposing to launch two blister copper refining charges (RC) assessments.Metal Bulletin proposes to launch two blister copper refining charges (RC) assessments, namely blister copper 98-99% spot RC cif China, and blister copper 98-99% annual benchmark RC cif China. The spot assessment will be published on a monthly basis while the benchmark assessment will be published on an annu...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil, offered at $600-610 per tonne cfr, to the UAE.India, export, hot-rolled coil, offered at $610-620 per...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarTurkey, export, rebar, offered at $560-565 per tonne cfr, theoretical weight, to the UAE.Turkey,...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletIran, export, billet, offered at $520-525 per...Read More
Egyptian steel producer National Port Said Steel (NPSS) has started production of billet and rebar at its facility in Al Ain Al Sokhna, Italian equipment supplier Danieli said on Monday January 29.The mill is 55 km south of Suez and 120 km east of Cairo. It has capacity for 830,000 tonnes per year of billet and 530,000 tpy of rebar and...Read More
Russian flat-steel producers are in a bullish mood but, unusually for the market, their offer prices for February-rolled hot- and cold-rolled steel sheet differ widely, buyers told Metal Bulletin on Monday January 29.The major suppliers are Novolipetsk Steel (NLMK) and Severstal."Both have increased their offer prices for February-rolled material, but Severstal's price is still lower, even though...Read More
Most buyers of flat steel in the United Arab Emirates and in Saudi Arabia preferred to delay their purchasing this week because they had enough stocks and they expected discounts, sources told Metal Bulletin on Tuesday January 30.UAEHot-rolled coil (HRC) was offered at $600-610 per tonne cfr from China, while buyers were bidding $590-595 per tonne cfr.India offered the product at $610-620 per tonn...Read More
China's domestic rebar prices were flat on Tuesday January 30 amid weak futures and sparse trading.Domestic Eastern China (Shanghai): 3,820-3,890 yuan ($603-614) per tonne, unchanged Northern China (Beijing): 3,900-3,940 yuan per tonne, unchanged Weakening futures kept the spot market bearish and resulted in buyers lowering their procurement rates further during the day. But sellers kept their off...Read More
Merafe Resources expects to report an increase in earnings per share for 2017 of up to 82%, due to higher chrome ore and ferro-chrome prices during the year. The Johanesburg-listed chrome producer, which operates a joint venture project in South Africa with trader-miner Glencore, expects to report basic earnings per share of 34.5-38.5 cents for the year to December 2017. This compares with 21.2 ce...Read More
Chrome producer Afarak has drawn up a proposal to delist from the Helsinki Stock Exchange, maintaining a single listing in London following a request from a major shareholder.Afarak, which owns assets including South Africa's Mogale Alloys and Germany's EWW, will hold an extraordinary general meeting on February 5 to consider the proposal. The company said it will offer to buy back shares at ?,?1....Read More
The production of tungsten concentrates at Wolf Minerals' Drakelands mine in the UK increased 22% in the fourth quarter of 2017 from the previous quarter.Wolf Minerals' processing plant produced 43,498 metric tonnes units (mtu) of tungsten concentrates in the quarter ended December 31, 2017, the company said in a statement on Tuesday January 30.It treated 485,788 tonnes of tungsten, an increase of...Read More
Due to a tight market balance, Citibank expects spot prices to sustain in the near term at $6.50-7 per dry metric tonne unit (dmtu), cif, China.One of the strong supporting factors is China's increasing dependence on imports, which remains the most important catalyst for seaborne prices, Citi's analysts said in a report released on January 30.China's manganese ore imports grew 30% year on year dur...Read More
Supply concerns continued to drive Chinese ferro-vanadium and global vanadium pentoxide (V2O5) prices, while European ferro-vanadium prices found stability at slightly lower levels while market activity slowed. Low availability continues to drive Chinese FeV, V2O5 markets European ferro-vanadium prices stabilize at slightly lower levels US FeV market continues to run on supply concerns, trader int...Read More
Manganese ore prices continued to exhibit strength on thinning supplies last week, while Chinese alloy markets felt pressure from slowing demand. Tightening supplies drive ore prices upward Sluggish demand weakens Chinese alloy prices EU alloy markets remain firm in quiet market US alloy prices continue to run on cold-weather-related tightnessOre prices edge higher on tightening suppliesManganese...Read More