SHANGHAI, Jan 17 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,030-7,230/mt while the SHFE 1803 contract is to trade at 53,450-54,600 yuan/mt. On the spot market, the discounts are expected to move at 160-120 yuan/mt.Aluminium: LME aluminium is expected to trade at $2,180-2,200/mt with support at the 20-day moving average while SHFE aluminium is expected to trade at 14,500-14,750...Read More
SHANGHAI, Jan 17 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,030-7,230/mt while the SHFE 1803 contract is to trade at 53,450-54,600 yuan/mt. On the spot market, the discounts are expected to move at 160-120 yuan/mt.Aluminium: LME aluminium is expected to trade at $2,180-2,200/mt with support at the 20-day moving average while SHFE aluminium is expected to trade at 14,500-14,750...Read More
Base metals prices on the London Metal Exchange were mostly lower for the second day in a row at the close on Wednesday January 17, while metals continue to retreat from earlier highs. Copper prices continue to fall, dropping a further $44 per tonne from Tuesday's close price, coming under pressure from profit-taking and concerns of Chinese demand."Copper pulls back to a 3.5-week low after strong...Read More
Trading activity for seaborne hard coking coal picked up this week, with Chinese market participants flagging interest for low-ash, low-sulfur materials. Tier-two cargoes were heard to have changed hands at around $182-185 per tonne fob Australia this week, market participants told Metal Bulletin on Wednesday January 17. "The pick-up in the trading of second-tier materials is along expected lines...Read More
Prices for physical iron ore retreated further on Wednesday January 17 amid concerns of a weakening Chinese steel market, and along with them, margins.Key driversPrices for both seaborne iron ore and port materials declined, tracking the general downtrend in the paper market for most of the day, though the benchmark contract for iron ore picked up just before the close of the trading session.China...Read More
Base metals prices on the London Metal Exchange were mostly lower for the second day in a row at the close on Wednesday January 17, while metals continue to retreat from earlier highs. Copper prices continue to fall, dropping a further $44 per tonne from Tuesday's close price, coming under pressure from profit-taking and concerns of Chinese demand."Copper pulls back to a 3.5-week low after strong...Read More
Domestic prices for rebar in Southern Europe have risen by ?,?10-20 per tonne over the past week, on higher production costs including those for ferrous scrap, sources told Metal Bulletin on Wednesday January 17.Metal Bulletin's weekly domestic price assessment for Southern European rebar rose to ?,?530-550 ($649-674) per tonne delivered on Wednesday, from ?,?520-530 per tonne on January 10. The a...Read More
Germanium prices increased on Wednesday January 17 and are expected to rise further after Teck Resources declared a partial force majeure on the sale of the metal from its trial operations.Teck Resources said the force majeure is due to equipment issues related to an operating disruption earlier this month at one of the fuming furnaces.Metal Bulletin assessed germanium at $1,300-1,450 per kg...Read More
Red Kite is undergoing a restructuring process "to consolidate regulatory oversight" but day-to-day operations were not affected, with all funds and the physical copper business performing "well in line with expectations," it confirmed on Wednesday January 17. Metal Bulletin reported earlier this month that London-based RK Capital Management LLP had entered into a restructuring review that "m...Read More
The primary aluminium market was in a deficit of 1.57 million tonnes for the first 11 months of last year, driven mainly by soaring demand, the World Bureau of Metal Statistics said on Wednesday January 17. This represents a substantial increase from the 770,000 tonne deficit recorded for the whole of 2016, according to the release. Global demand growth, at 2.6%, in January-November 2017 outpaced...Read More
Assaying firm Alex Stewart International Corporation Ltd has been registered as an authorized sampler and analyst (LSA) for the London Metal Exchange, the company said.Approval for the Liverpool, UK-headquartered company brings the number of LME-approved LSAs to 13. LSAs...Read More
Oliver Nugent, who previously worked on base metals business development at the London Metal Exchange, has joined ING Bank as a commodities strategist, Metal Bulletin has learned.Nugent left the LME in London in December 2017 and moved to ING in Amsterdam to cover metals and the broader commodity asset class, alongside other strategists Warren Patterson and...Read More
Comex copper prices declined for the fourth consecutive session on Wednesday January 17 morning in the US, with the red metal facing a strong bout of speculative selling.Copper for March settlement on the Comex division of the New York Mercantile Exchange dipped 2.85 cents or 0.9% to $3.1910 per lb. Trading has ranged from $3.1865 to $3.2210."Rising global stock levels, stale-long liquidations amo...Read More
The latest metal markets news and price moves to start the North American day on Wednesday January 17.Base metals prices on the London Metal Exchange were little changed during morning trading on Wednesday January 17, with prices looking to consolidate after Tuesday's sell off.The three-month aluminium price came under pressure yesterday, closing down 2%, but has edged $2 higher this morning.Here...Read More
German steelmaker Saarstahl is planning to install a new continuous billet caster, the company said on Wednesday January 17.The five-strand billet caster with annual capacity for 850,000 tonnes of billet will be installed at Saarstahl's...Read More
Domestic prices for cold-rolled coil (CRC) increased in Southern Europe this week and are expected to soon move up further, sources told Metal Bulletin.The rise was supported by a lack of competitive import offers in the market. Metal Bulletin's weekly price assessment for domestic CRC in Southern Europe was ?,?610-640 ($735-772) per tonne ex-works on Wednesday December 17, up from ?,?59...Read More
Prices for domestic hollow sections remained largely stable across Europe this week, with market sources waiting for a clear direction in the price of hot-rolled coil (HRC).HRC prices were expected to rise across Europe after mills including ArcelorMittal announced a hefty increase to their first-quarter offer prices at the end of last year. But prices for the flat steel material have remained ste...Read More
Key data from the Wednesday January 17 pricing session in Europe. Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeKey drivers: - The ferro-titanium spot price as edged up and the range narrowed this week, with more than 250 tonnes of alloy being traded and reported at $5-5.65 per kg. However, a deal for almost 50 tonnes of alloy was sold to Scandinavia and at a higher price...Read More
Key data from Metal Bulletin's Wednesday January 17 pricing session in Europe.Ferro-tungsten basis 75% W Rotterdam duty unpaid $ per kg in warehouse Key drivers:- Tightening prompt availability, improving demand - Rising ammonium paratunsgate (APT) prices...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday January 17:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.40-11.65 per lb from $11.05-11.30 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $28-28.80 per kg from $26.50-27.20...Read More