Base metals prices on the London Metal Exchange put in a strong performance on the afternoon of Wednesday January 24, supported by the weaker dollar, to close in positive territory across the board.The three-month nickel price ended more than 5% higher than Tuesday's closing price after hitting its highest since June 2015. Volumes were also high today, with more than 18,000 lots traded by 17:15 Lo...Read More
Tin stocks at London Metal Exchange warehouses have fallen further since the start of 2018, with a 34% reduction in on-warrant stocks pushing tin prices to a three-month high.Total tin stock levels are at 1,780 tonnes as of Wednesday January 24 - their lowest since the 1980s - after a series of cancelations and deliveries out since January 10. This is in comparison with the start of 2017, when Jan...Read More
Iron ore prices remained steady around $74 per tonne cfr China on Wednesday January 24 amid mixed signals from China's steel and futures markets.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.53 per tonne cfr Qingdao Daily change: up by $0.24 per tonne Month-to-date average: $76.38 per tonne Metal Bulletin's 58% Fe...Read More
European domestic prices for steel beams have remained unchanged this week, with solid demand and well-booked mill rolling schedules supporting the market, sources told Metal Bulletin on Wednesday January 24."There is no problem at all in the beam market. Demand is good," one stockholder said."As far as we are seeing, there is no weakening in prices," one producer source told Metal Bulletin."Mill...Read More
Base metals prices on the London Metal Exchange put in a strong performance on the afternoon of Wednesday January 24, supported by the weaker dollar, to close in positive territory across the board.The three-month nickel price ended more than 5% higher than Tuesday's closing price after hitting its highest since June 2015. Volumes were also high today, with more than 18,000 lots traded by 17:15 Lo...Read More
Premiums for zinc and lead ingots were unchanged in a week where prices hit multi-year highs for both metals.The price of zinc continues to ratchet up, with the London Metal Exchange's three-month zinc contract peaking at $3,432 per tonne on Friday January 19, its highest point since July 2007. Similarly, the LME's three-month lead price gained to $2,616 per tonne on Wednesday January 24...Read More
Brazil's primary aluminium production has edged up in 2017, according to figures from the country's aluminium association Abal.Output totaled 801,000 tonnes last year, a modest 1.05% increase from the 792,700 tonnes produced in 2016. Only two primary aluminium producers are operating...Read More
Derek John Benham, who had more than 40 years of experience in the metals industry - mostly in cobalt and nickel - died earlier this month at the age of 65.Born in Enfield, UK, in 1952, Benham passed away on January 7 after bravely and discreetly fighting prostate cancer for many years. His wife Joan survives him."Derek was a true gentleman and it is a big loss to the metals industry," collea...Read More
Chilean miner Antofagasta produced 704,300 tonnes of copper in 2017, down 0.7% from a year ago, mainly attributed to lower grades at Los Pelambres and Centinela mines. The London-listed company said on Wednesday January 24 that the drop in output was partly offset by the start of operations at its Encuentro Oxides and a ramp-up at Antucoya projects. "The new additions to our portfolio at Zald?-var...Read More
Copper premiums in the United States and Europe were little changed on Tuesday January 23, although US participants are gaining more confidence as the year progresses, while in China premiums once again saw downward pressure on sluggish demand. US participants growing more optimistic due to construction figures and freight costs Chinese premiums falling due to softening demand European...Read More
Ratings agency Moody's has upgraded the global-scaled ratings of Brazilian flat steel producer Usiminas to B2 from Caa1, amid a gradual rebound in the national steel sector, the agency said on Wednesday January 24.The firm's national-scale rating was also upgraded to Ba1.br from B3.br."The upgrade of Usiminas to B2 reflects primarily the conclusion of its debt renegotiation process with the amorti...Read More
Domestic prices for steel wire rod narrowed upward by ?,?20 per tonne in Southern Europe this week as mills in the region raised their offer prices, sources told Metal Bulletin on Wednesday January 24.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Southern Europe narrowed upward to ?,?540-550 ($662-675) per tonne delivered on January 24, from ?,?520-550 per tonne de...Read More
Domestic prices for rebar in Northern Europe remained largely stable week-on-week as European mills looked to raise offers, sources told Metal Bulletin on Wednesday January 24.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was ?,?555-565 ($681-693) per tonne delivered on Wednesday, narrowing ?,?5 per tonne on each end...Read More
Key data from the Wednesday January 24 pricing session in Europe.Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeKey drivers: - The ferro-titanium spot price is steady within its trading range this week, although some sources assessed the market slightly lower but with no confirmed trades. - Sources reported firm underlying consumption from steelmakers, with buying interest...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday January 24:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.20 per lb from $11.70-12.00 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.75-30.50 per kg from...Read More
Major Chinese stainless steel mills Baosteel and Taiyuan Iron & Steel (Tisco) have raised their high-carbon ferro-chrome tender prices for February delivery due to concerns over the tightening supply of the ferro-alloy. Baosteel has raised its high-carbon ferro-chrome tender price for February delivery to 7,900 yuan ($1,234) per tonne, 600 yuan higher than its tender price for January delivery, a...Read More
China's coke export prices continued to weaken over the past fortnight, but the between offers widened amid limited trading activity.Metal Bulletin's price assessment for Chinese coke exports with 65% coke strength after reaction (CSR), 12.5% ash, and in physical sizes of 30-90mm, was $340-350 per tonne fob China for the week ending Tuesday January 23.This was down from $350-360 per tonn...Read More
Turkish steel mills returned to the deep-sea scrap markets for material at lower prices on Wednesday January 24, after a short break for price negotiations.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $346.50 per tonne cfr, down by $7.44 per tonne day-on-day.The daily index...Read More
The latest metal markets news and price moves to start the North American day on Wednesday January 24.Copper prices on the London Metal Exchange have recovered 1.3% during morning trading despite another large delivery into LME warehouses.The three-month copper price plummeted to a 2018 low of $6,885 per tonne yesterday after inventories increased a net 36,300 tonnes to 248,075 tonnes. A further 2...Read More
Iron ore prices remained steady around $74 per tonne cfr China on Wednesday January 24 amid mixed signals from China's steel and futures markets.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.53 per tonne cfr Qingdao Daily change: up by $0.24 per tonne Month-to-date average: $76.38 per tonne Metal Bulletin's 58% Fe...Read More