Base Metal Stock Articles

CIS LONG STEEL: Mills close February order books at higher prices, outlook mixed

January 16, 2018 / Vlada Novokreshchenova

CIS export rebar and wire rod prices have gone up by $10-15 per tonne in the first half of January with mills selling material from February production at higher prices.In addition, the availability of material, wire rod in particular, was reduced due to the continued absence from the market of Russia's Abinsk Electric Steel Mill and satisfactory sales in previous weeks.Metal Bulletin's weekly pri...Read More

Long Steel Products Trade Log, January 16, 2018

January 16, 2018 / Staff reporter

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE (Emirates Steel), domestic, rebar, offered at 2,340 dirhams ($637) per tonne ex-works.UAE (Conares...Read More

GULF STEEL BILLET, REBAR: Local rebar prices increase, billet prices narrow on new deal

January 16, 2018 / Serife Durmus

Prices for locally produced rebar in the UAE have increased this week while billet import prices in the country narrowed with a new deal, sources have told Metal Bulletin.Demand for imported rebar, meanwhile, was very weak in both countries because local prices were more competitive. Domestic rebar Major local rebar producers in the UAE announced new prices on Tuesday, January 16. The country's bi...Read More

DAILY SCRAP REPORT: Pressure rises on Turkish deep-sea markets

January 16, 2018 / Cem Turken

The Turkish scrap import market remained quiet on Tuesday January 16, with limited supplies available, especially from the USA, according to market sources.However, Turkish steel mills were expected to book 18-19 more cargoes for February, with four or five of these expected to be booked for the first half of the month."Turkish steel mills should book 18-19 more cargoes for February, but there are...Read More

UK FERROUS SCRAP: Monthly consumer market rides higher export prices

January 16, 2018 / Declan Conway

UK ferrous scrap prices for monthly deliveries to consumers in January have settled with increases of around ?15-20 per tonne compared with December's settlements, trade sources told Metal Bulletin this week.One main factor in settling January contracts was the steady increase in the scrap import price into Turkey, a key export market for British steel scrap, sources said. Metal Bulletin's daily...Read More

Spanish short-sea scrap prices fall $12, Turkish deep-sea market could follow

January 16, 2018 / Lee Allen

Prices for short-sea scrap imports arriving in Spain have fallen by ?,?10 ($12) per tonne over the past week, which could lead to a dip in Turkish deep-sea import scrap prices, market sources told Metal Bulletin on Tuesday January 16. Weaker demand from Spanish mills has led to a fall in short-sea import prices for United Kingdom-origin HMS 1&2 (80:20), which was ?,?280-283 per tonne cfr northern...Read More

GULF STEEL BILLET, REBAR: Local rebar prices increase, billet prices narrow on new deal

January 16, 2018 / Serife Durmus

Prices for locally produced rebar in the UAE have increased this week while billet import prices in the country narrowed with a new deal, sources have told Metal Bulletin.Demand for imported rebar, meanwhile, was very weak in both countries because local prices were more competitive. Domestic rebar Major local rebar producers in the UAE announced new prices on Tuesday, January 16. The country's bi...Read More

CHINA REBAR: Domestic prices largely flat amid sparse trading

January 16, 2018 / Jessica Zong

China's rebar market regained some stability on Tuesday January 16 amid sparse trading. Domestic Eastern China (Shanghai): 3,710-3,760 yuan ($576-584) per tonne, widened downward by 10 yuan per tonne Northern China (Beijing): 3,750-3,780 yuan per tonne, unchanged Traders attempted to prop up prices in the morning on seeing the gains in the billet and futures markets earlier in the day.But buyers r...Read More

Rio Tinto's Pilbara iron ore shipments exceed 2017 target of 330 mln tonnes

January 16, 2018 / July Zhang

Rio Tinto shipped 330.10 million tonnes of iron ore (on a 100% basis) from its Pilbara operations in Australia in 2017, in line with its guidance of 330 million tonnes.The total is up 1% from its 2016 total of 327.60 million tonnes, it said in its latest production results statement on Tuesday January 16.The increase was helped by the October-December quarter when it shipped 90 mill...Read More

RIO TINTO AT A GLANCE: Q4 production results

January 16, 2018 / Kyle Docherty

Summary of Rio Tinto's fourth-quarter production results for the three months ended December 31: (Rio Tinto share unless otherwise indicated, year-on-year change)Iron ore shipments (100% basis) 90 million tonnes, +3% Iron ore...Read More

Rio Tinto's third party bauxite shipments up 10% in 2017

January 16, 2018 / Tanya Ashreena

Rio Tinto's shipment volumes of third-party bauxite rose by 10% year-on-year in 2017 to 32.3 million tonnes.The company's fourth-quarter results revealed that total bauxite production rose by 6% to 50.8 million tonnes in 2017, in line with the full-year guidance assessment.Brazilian bauxite prices rose by 5.6% between March and December 2017, when Metal Bulletin began...Read More

LIVE FUTURES REPORT 16/01: LME base metals erase Monday's gains; tin bucks lower trend

January 16, 2018 / Alice Mason

Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday January 16, however tin prices shocked the complex by rallying $170 per tonne. The complex's rallies took a pause while the dollar pulled up from Monday's three-year low. "The strong performance seen yesterday on the LME was wiped out today as [Asian] traders hit the sell button from the Asia open. Even with...Read More

DAILY SCRAP REPORT: Pressure rises on Turkish deep-sea markets

January 16, 2018 / Cem Turken

The Turkish scrap import market remained quiet on Tuesday January 16, with limited supplies available, especially from the USA, according to market sources.However, Turkish steel mills were expected to book 18-19 more cargoes for February, with four or five of these expected to be booked for the first half of the month."Turkish steel mills should book 18-19 more cargoes for February, but there are...Read More

Codelco's Potrerillos copper smelter halts operations due to technical issues

January 16, 2018 / Danielle Assalve

Operations at Codelco's Potrerillos copper smelter in Chile's Atacama region have been suspended due to a problem at an absorption tower, the state-owned miner confirmed to Metal Bulletin.The tower is currently being repaired and the smelter, which is part of Salvador division, is expected to restart operations on January 28, a company's spokesman said. The issue affects only the Potrerillos smelt...Read More

NORTH AMERICAN MORNING BRIEF 16/01: LME base metals down; nickel falls after rally; seaborne iron ore market slides; Rio Tinto results

January 16, 2018 / Tanya Ashreena

The latest metal markets news and price moves to start the North American day on Tuesday January 16.Base metals traded on the London Metal Exchange are edging lower this morning, Tuesday January 16, posting an average loss of 0.7% on subdued trading volumes. Nickel prices, down 1.6%, are the weakest, while copper and tin prices, both down 0.2%, are showing the most resilience.This bout of profit-t...Read More

EUROPEAN MORNING BRIEF 16/01: Rio Tinto Q4 production results; Felipe Williams joins Sterlite Copper; European APT prices climb

January 16, 2018 / Echo Ma

Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Tuesday January 16.Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Tuesday, with only tin prices in positive territory. Check Metal Bulletin's live futures report here.LME snapshot at 03.28am London timeLatest three-month LME Price...Read More

RNC set to develop the world's largest nickel-cobalt project

January 16, 2018 / Resource World

Extracting a bulk sample at the Dumont nickel-cobalt project near Amos, northern Quebec. Source: RNC Minerals.RNC Minerals [RNX-TSX; RNKLF-OTCQX], also known as Royal Nickel Corp., says it is working to secure $1 billion to develop the world's largest undeveloped reserves of both nickel and cobalt at the company's flagship Dumont Project near Amos, northern Quebec. It hopes to start the constructi...Read More

SMM Evening Comments (Jan 16)

Jan 16 2018 / Staff reporter

SHANGHAI, Jan 16 (SMM)? 1/4 ?Nonferrous metals futures were weak on Tuesday afternoon, with aluminium dropping nearly 3% and nickel down 1.8%. Lead was down 1% and copper down 0.7%. Tin also dropped slightly.The ferrous complex also dropped in the afternoon. Coking coal dropped almost 4% and iron ore dropped 1.6%. Coke slipped 1.5% and hot-rolled coil dropped slightly. Rebar edged up slightly at c...Read More

SMM Evening Comments (Jan 16)

Jan 16 2018 / Staff reporter

SHANGHAI, Jan 16 (SMM)? 1/4 ?Nonferrous metals futures were weak on Tuesday afternoon, with aluminium dropping nearly 3% and nickel down 1.8%. Lead was down 1% and copper down 0.7%. Tin also dropped slightly.The ferrous complex also dropped in the afternoon. Coking coal dropped almost 4% and iron ore dropped 1.6%. Coke slipped 1.5% and hot-rolled coil dropped slightly. Rebar edged up slightly at c...Read More

SMM Evening Comments (Jan 16)

Jan 16 2018 / Staff reporter

SHANGHAI, Jan 16 (SMM)? 1/4 ?Nonferrous metals futures were weak on Tuesday afternoon, with aluminium dropping nearly 3% and nickel down 1.8%. Lead was down 1% and copper down 0.7%. Tin also dropped slightly.The ferrous complex also dropped in the afternoon. Coking coal dropped almost 4% and iron ore dropped 1.6%. Coke slipped 1.5% and hot-rolled coil dropped slightly. Rebar edged up slightly at c...Read More

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