Operations at Glencore's Pasar copper smelter have been suspended since last week due to a leakage in the sulfuric acid plant, Metal Bulletin has learned.The smelter consumes 720,000 tonnes per year of copper concentrates. Part of the feed comes from Freeport's Grasberg copper mine in Indonesia. Glencore will continue to receive the feed, a well-informed source told Metal Bulletin. At least two sh...Read More
Annual refining charges (RCs) for imported blister copper, an intermediate product of refined copper production, have increased slightly this year while China's copper smelters are looking to import more material to fill the supply gap arising from the drastic cut in copper scrap import quotas.Expectations of rising supply have boosted RCs for imported blister copper, normally 97-99% copper conten...Read More
Huayou Cobalt and Posco will invest in two joint ventures in China's Zhejiang province to produce lithium-ion battery materials, according to a statement filed on the Shanghai Stock Exchange on Wednesday January 10. With a total investment of 1 billion yuan ($154 million), Zhejiang HUAYOU-POSCO New Energy Co, Ltd will be dedicated in the research and development, production, as well as sales of li...Read More
Turkish deep-sea scrap prices inched up with news of a fresh deal from the Baltic Sea on Thursday January 11. A steel mill in northern Turkey booked the cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $375 per tonne, 12,000 tonnes of shredded at $380 per tonne and 4,000 tonnes...Read More
Annual refining charges (RCs) for imported blister copper, an intermediate product of refined copper production, have increased slightly this year while China's copper smelters are looking to import more material to fill the supply gap arising from the drastic cut in copper scrap import quotas.Expectations of rising supply have boosted RCs for imported blister copper, normally 97-99% copper conten...Read More
Comex copper prices inched higher Thursday January 11 morning in the US due to a weaker dollar in an overall shallow market.Copper for March settlement on the Comex division of the New York Mercantile Exchange increased 0.55 cents or 0.2% to $3.2410 per lb. The dollar has softened gradually since mid-December and was recently trading at a one-week low of 91.94 on the...Read More
Base metals prices on the London Metal Exchange are generally higher this morning, Thursday January 11, with aluminium leading the way with a 0.8% gain to $2,203 per tonne, while tin is the one bucking the trend with a 0.3% decline. Nickel prices are unchanged, while the rest are up by between 0.2% and 0.4%, with copper prices up by 0.3% at $7,169 per tonne.Volume has been average, with 6,933 lots...Read More
India's JSW Steel recorded its highest-ever quarterly crude steel output in October-December 2017, producing 4.11 million tonnes - up 7% compared with the same quarter in 2016.The October-December period is the third quarter of JSW Steel's 2017-2018 financial year, which runs to March 31, 2018. Flat steel production dropped 1% year on year to 2.82 million tonnes, while long steel production increa...Read More
China's prices for hot-rolled coil fell on Thursday January 11 amid weak procurement sentiment among downstream buyers. DomesticEastern China (Shanghai): 4,220-4,260 yuan ($648-654) per tonne, down 20 yuan per tonne Northern China (Tianjin): 4,030-4,050 yuan per tonne, down 10-20 yuan per tonneSpot prices dipped following a softening of HRC futures during the day, according to market participants....Read More
China's ferrous futures largely trended downward during morning trading on Thursday January 11 with the exception of the coking coal contract, which ended the session higher.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,844 ($58) per tonne, down 17 yuan per tonne May hot-rolled coil: 3,880 yuan per tonne, down 14 yuan per tonne Dalian Commodity Exchange May iron o...Read More
Turkish domestic long steel prices have fallen in line with the weakening of the country's lira, but are expected to recover soon, sources said on Thursday January 11.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $570-572 per tonne ex-works, down from last week's $580-590 per tonne.The domestic rebar prices in the Izmir and Iskenderun regions were $570-575 per tonne ex-...Read More
Turkish long steel export prices have gone up over the past week with recovering demand and rising imported scrap costs, sources said on Thursday January 11.Two Turkish mills were heard selling rebar to the United States at $575-580 per tonne fob actual weight, while a small cargo was sold to Africa at $585 per tonne.One of the US cargoes weighed 35,000 tonnes, while the other's tonnage was not cl...Read More
Turkish deep-sea scrap prices inched up with news of a fresh deal from the Baltic Sea on Thursday January 11. A steel mill in northern Turkey booked the cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $375 per tonne, 12,000 tonnes of shredded at $380 per tonne and 4,000 tonnes...Read More
Iron ore prices rose just above $79 per tonne cfr China on Thursday January 11 following news of a cyclone developing off the coast of Western Australia resulting in the closure of the Port of Port Hedland.Metal Bulletin's 62% Fe Iron Ore Index Today: $79.08 per tonne cfr Qingdao Daily change: up by $0.77 per tonne Month-to-date average: $77.08 per tonne Metal Bulletin's...Read More
Seaborne iron ore prices picked up on Thursday January 11 following news of a cyclone in Western Australia that led to the closure of Port of Port Hedland.Key driversTropical Cyclone Joyce formed off the west coast of Western Australia earlier in the day and is expected to intensify in the evening as it moves toward the coast in a south to south-westerly direction, the Pilbara Ports Authority said...Read More
Turkish imported billet prices have inched up on higher scrap prices, while the country's domestic and export billet prices have remained stable over the past week, sources said on Thursday January 11.Metal Bulletin's weekly price assessment for billet imports into Turkey was $525-530 per tonne cfr on Thursday, narrowing upward from last week's $520-530 per...Read More
China's domestic rebar market weakened on Thursday January 11 after a major mill announced lower list prices for mid-January. Domestic Eastern China (Shanghai): 3,830-3,900 yuan ($588-599) per tonne, narrowed downward by 20 yuan per tonne Northern China (Beijing): 3,870-3,890 yuan per tonne, narrowed downward by 10 yuan per tonne Shagang, a major producer of rebar in east China, lowered its list p...Read More
China's ferrous futures largely trended downward during morning trading on Thursday January 11 with the exception of the coking coal contract, which ended the session higher.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,844 ($58) per tonne, down 17 yuan per tonne May hot-rolled coil: 3,880 yuan per tonne, down 14 yuan per tonne Dalian Commodity Exchange May iron o...Read More
East Asia's stainless steel market has started to show signs of weakness, with prices for cold-rolled coil retreating over the past week amid thin trading and soft demand.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm cold-rolled coil was $2,130-2,150 per tonne cif East Asian ports for the week ended Wednesday January 10, down $20-50 per tonne from $2,150-2,200 per tonne cif...Read More
Molybdic oxide and ferro-molybdenum prices have been underpinned over the past week due to steady trading rates, buoyant conversion costs and strong underlying consumption in the steel sector, which is expected to persist in the near term.Molybdic oxide prices have pared gains slightly in the second week of trading in 2018, with the market at $11-11.30 per lb, in-warehouse Rotterdam on Wednesday J...Read More