The following Metal Bulletin minor metals prices changed on Wednesday January 17:Antimony MB free market regulus, $/tonne: $8,100-8,400 per tonne from $8,050-8,350 Antimony MMTA standard grade II, $/tonne: $8,100-8,400 per tonne from $8,050-8,350 Cobalt MB free market high grade, $/lb: $37.00-38.00 per lb from $36.95-37.80...Read More
South African manganese ore producers face delays of up to two weeks to ship material after derailments disrupted deliveries to the country's Saldana port. "Derailments caused severe delays; shipments have been pushed back by two weeks," one miner told Metal Bulletin. A second supplier source said he was unable to book material because shipping slots had not been confirmed. South African state tra...Read More
Some Chinese stainless steel mills are struggling to secure sufficient ferro-chrome supply for January after prices have risen due to unexpected production cuts. Power constraints and rising raw materials prices have pushed up production costs in south China, triggering production cuts and a rally in ferro-chrome prices. Major Chinese stainless steel mills raised their high carbon ferro-chrome ten...Read More
Around 75% of Vale's iron ore sales in 2018 will carry premiums over the 62% Fe reference price, a senior executive has said.Currently, about 40% of the miner's iron ore sales, involving volumes with 65% Fe, include a premium of $15 per tonne, while 35% of the company's sales comprising materials blended in Malaysia and China carry a premium of $2-3 per tonne, investor relations Andr?(C) Figueired...Read More
Vale expects to reduce its debt level to $10 billion in 2018, investor relations director Andr?(C) Figueiredo said during a presentation for investors on Wednesday January 17 in S??o Paulo.This compares with net debt of $21.07 billion in the third quarter of 2017.The company's fourth-quarter 2017 results have yet to be released, but its debt level should have come down to $15-16 billion by the end...Read More
The Turkish steel mills extended their silence in the deep-sea scrap markets on Wednesday January 17, because of tight supply in the US and high prices, according to market participants.The mills were expected to book more cargoes for February, but the weak demand for their finished goods was keeping them out of the market.Meanwhile, the heavy winter conditions along the US East Coast...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, 61% Fe Pilbara Blend...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
Seaborne iron ore prices retreated on Wednesday January 17, as end-users took a cautious approach to procurement amid narrowing marginsMetal Bulletin's 62% Fe Iron Ore IndexToday: $74.51 per tonne cfr QingdaoDaily change: Down by $1.20 per tonneMonth-to-date average: $76.79 per tonneMetal Bulletin's 58% Fe Premium IndexToday: $61.47 per tonne...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 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 they have edged $2 higher this morning. "Aluminium came under additional selling pressure after reports that the production hub of Xinjiang...Read More
Key data from Metal Bulletin's Wednesday January 17 pricing session in Europe.Gallium Metal MB free market $/kg Key drivers:- Escalating Chinese prices have driven European prices higher.- There is a lack of supply in the market.Key quotes:"Domestic Chinese prices...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Chinese cobalt sulfate consumers have reduced their procurement of material following the new year holiday and while waiting for clearance on the government's 2018 subsidy policy on electric vehicles (EVs).The final subsidy policy on EV sales for 2018 is expected at the end of January, which is when it has been announced in recent years. Speculation over the new policy, however, has meant buyers h...Read More
Stainless steel prices are expected to weaken in Asia on lower demand during the first quarter of this year, while prices in Europe and North America are likely to continue to be supported by strong demand.Asia to see price dropAsian stainless steel prices are expected to drop in the January-March quarter amid soft demand.In the first quarter, China and some other major Asian stainless steel marke...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 17:Aluminium scrap Group 1 pure 99% & litho: ?1,420-1,470 per tonne from...Read More
Taiwan's ferrous scrap imports tumbled 29% year on year in November, according to the territory's customs agency.The island imported 172,320 tonnes of ferrous scrap that month, 70,354 tonnes lower than the 242,674 tonnes it took in a year earlier, data...Read More
* Australian shares hit more than four-week low* Soft commodity prices weigh down material and energy sectors* Consumer staples drive New Zealand shares higher By Christina MartinJan 17 (Reuters) - Australian shares slumped to their lowest in more than four weeks on Wednesday, on track for a second straight session of losses, as weak base metal prices hit materials stocks, dragging down the inde...Read More
By Jonathan StempelNEW YORK, Jan 16 (Reuters) - Rio Tinto Plc on Tuesday said a U.S. regulator's lawsuit accusing the big Anglo-Australian mining company of fraud for overstating the value of Mozambique coal assets it had bought in 2011 should be dismissed.In a letter filed with the U.S. District Court in Manhattan, a lawyer for Rio Tinto said the U.S. Securities and Exchange Commission failed to...Read More
Gold pricing continues its historic climb to higher prices, gaining yet more value in today's trading. As of 4:30 PM Eastern standard time, gold futures are trading $4.10 (+0.31%) higher at $1339. Gold continues to ride the tailwinds created from a tumbling U.S. dollar, which is currently off by over a half percent today as it broke below the major support level of 91 on the dollar index. Our tech...Read More