SHANGHAI, Jan 12 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,065-7,200/mt today with support at the 20-day moving average while the SHFE 1803 contract is to trade at 54,200-55,300 yuan/mt. In the spot market, the premiums are set to be firmer at flat to 50 yuan/mt today.Zinc: LME zinc is aiming for $3,400/mt against the backdrop of good fundamentals in the international market. We se...Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,065-7,200/mt today with support at the 20-day moving average while the SHFE 1803 contract is to trade at 54,200-55,300 yuan/mt. In the spot market, the premiums are set to be firmer at flat to 50 yuan/mt today.Zinc: LME zinc is aiming for $3,400/mt against the backdrop of good fundamentals in the international market. We se...Read More
European stainless steel base prices have been largely stable over the past week, with market activity improving after seasonal holidays, sources told Metal Bulletin on Friday January 12.Metal Bulletin's weekly base price assessment for 2mm, grade-304 CR stainless steel sheet narrowed downward by ?,?10 per tonne to ?,?1,060-1,120 ($1,271-1,343) per tonne delivered in Northern Europe on Friday, com...Read More
Domestic prices for ferrous scrap in Italy increased by ?,?10-15 ($12-18) per tonne this month following the positive trend in the international market, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade E3 scrap in Italy was ?,?290-310 ($348-372) per tonne delivered in January, up from ?,?275-295 per tonne delivered. And Metal Bulletin's monthly pri...Read More
Aluminium spot foundry alloys premiums were steady in the United States and slightly higher in Europe, with both markets bullish about the year ahead.US foundry alloy premium flat on quiet 2018 startThe latest assessment of the US foundry alloy premium was unchanged at 9-11 cents per pound, which market participants attributed to a slow start in the spot market thus far this year."We haven't seen...Read More
Major cable maker Nexans has acquired a Denmark-based wind turbine cable kit provider to tap into the expanding wind power sector, the company said on Thursday January 11.The Paris-based company has bought a controlling interest in BE CableCon, a supplier of cable kits for some of Europe's major wind turbine companies and a sub-contractor of Nexans' own kitting projects, according to a company sta...Read More
Marco Cumbo Nacheli has joined warehousing company Pacorini Global Services (PGS) where he will have responsibility for corporate business development, he told Metal Bulletin on Friday January 12.He joins Mario Casciano and Daniel Saez and has plans to "continue to expand the PGS global footprint in all regions across the globe," he said in an emailed statement.Cumbo Nacheli was the global he...Read More
Base metals prices on the London Metal Exchange closed the week on divergent paths today, Friday January 12, with aluminium leading the upside.The three-month aluminium price closed above $2,200 per tonne for the first time since the first trading day of the year. 16,000 tonnes of aluminium was freshly cancelled at LME-listed warehouses this morning, which supported prices. "Strong Chinese trade f...Read More
China, the world's largest copper consuming country, imported 4.69 million tonnes of unwrought copper in 2017, down 5.7% from a year ago, according to the latest customs data.The amount of unwrought copper brought into the country in 2016 was 4.95 million tonnes. The drop stands in contrast to the rising domestic copper production. For the first ten months...Read More
Operations at Glencore's Pasar copper smelter in Philippines have been suspended since last week due to a technical failure, a source at the company confirmed to Metal Bulletin on Friday January 12. "There has been an equipment failure at the plant related to the cooler (and relevant controls have already kicked in) and operations have been suspended," the source said. It is not yet known when the...Read More
China exported 4.79 million tonnes of unwrought aluminium and aluminium products in the whole of 2017, up 4.5% on a yearly basis, according to preliminary Chinese customs data released on Friday January 12.The average value of Chinese aluminium exports in 2017 was $2,733 per tonne, an increase of 1.4% from $2,695 per tonne in 2016, according to the data. "The whole export condition is better in 20...Read More
Export prices of steel billet from Latin America increased this week, amid higher global prices, Metal Bulletin has learned.Deals closed in late December were reported at as high as $510 per tonne fob for February shipment for Brazilian material, sources told Metal Bulletin. Metal Bulletin's weekly assessment...Read More
Domestic prices for rebar in Poland have increased over the past week due to higher scrap costs, sources told Metal Bulletin on Friday January 12.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,240-2,300 zloty ($643-661) per tonne ex-works on January 12, compared with 2,220-2,270 per tonne ex-works a...Read More
Export prices for Latin America-origin cold-rolled coil (CRC) went up this week, while prices for hot-rolled coil (HRC) were flat amid renewed offers from Brazil.Metal Bulletin's weekly assessment of Latin America's CRC export prices increased to $670-685 per tonne fob on Friday January 12, compared with $635-640 per tonne fob a week earlier.Meanwhile, Latin America's HRC export prices...Read More
Export prices for Brazil-origin steel slab increased this week on higher raw materials costs and limited supply from other regions, Metal Bulletin has heard.Metal Bulletin's weekly price assessment of Brazil export slab went up to $510-520 per tonne fob on Friday January 12, from $500-510 per tonne fob a week earlier.Offers were reported at a minimum $520 per tonne fob, several market participants...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, HDG, PPGIHot-rolled coilTurkey, domestic, hot-rolled coil, offered at $620-630 per tonne ex-works, March production. Turkey, domestic, hot-rolled coil, traded at...Read More
Some coated flat steel prices increased in Turkey this week, although demand was not very strong in either the local or export markets, sources told Metal Bulletin on Friday January 12. Some coated flat steel prices increased in Turkey this week, although demand was not very strong in either the local or export markets, sources told Metal Bulletin on Friday January 12. Domestic pric...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday January 12:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.05-11.30 per lb from $11.00-11.30 Molybdenum US canned molybdic oxide, $/Ib $11.00-11.30 per Ib from $10.90-11.15 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $26.50-27.20 per kg from $26.50-27.10 Ferro-molybdenum U...Read More
Prices for shredded scrap imported in containers into India continued to rise this week despite a weakening in the country's domestic finished and semi-finished steel markets, sources said on Friday January 12.Metal Bulletin's index for Indian imported shredded scrap rose to $380.45 per tonne cfr Nhava Sheva on Friday January 12, up by $6.36 per tonne week-on-week."The scrap market is firm in all...Read More
The UK inter-merchant price range for austenitic alloy steel scrap narrowed upward by ?10 per tonne this week with nickel prices remaining strong, sources said on Friday January 12.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?960-980 ($1,297-1,324) per tonne delivered on Friday, compared with ?950-980 per tonne on January 5."It's not easy to buy b...Read More