ZINC TRADING TIPS TODAYZinc Trading Tips Today – Zinc Buy Call 1ae8 given at 201.70 Achieved 1st Target 202.7 (CMP 202.80) Total 1.1 Points / Rs 5500 ProfitTIPS ID 1ae8 : Zinc Trading - Buy Zinc at CMP 201.70 for Target 202.70 - 203.40 with SL 200.40 Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 4. Please click...Read More
The premiums offered on supplies of aluminium to Japan in the third quarter of 2019 have been heard at $115-120 per tonne cif main Japanese ports (MJP), about 12% above the second-quarter premium, due to tighter supply, Fastmarkets learned on Tuesday June 4.One major producer offered a premium over the London Metal Exchange cash price of $115 per tonne and another $120 per tonne for July-September...Read More
Zinc's three-month price on the London Metal Exchange had climbed moderately by the close of trading on Wednesday June 4, with the morning's cancelation of more than 15,000 tonnes not enough to push the price higher than $2,500 per tonne.Volumes traded in the galvanizing metal topped the complex by the close, however, indicating strong buying interest over the day's trading.More than 11,000 lots o...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday June 4 that are worth another look.The China Nonferrous Metals Industry Association Antimony Branch (CAA) held an industry meeting calling for major producers to reduce output in an effort to halt the price decline seen since the start of the year, market sources told Fastmarkets. The London Metal Exchange's zinc price...Read More
The bullish run in China's alumina price may end in July on smaller than expected alumina production cuts in Xinfa Group's alumina refineries and easing tightness after more imported cargoes arrive, sources told Fastmarkets on Thursday May 30."I heard the aluminium production lines in Xinfa's Jiaokou plant were not fully stopped because the materials loaded in previously were not used up and it ma...Read More
London-listed Pembridge Resources will purchase Capstone Mining's Minto copper mine in a deal that could total $20 million based on future price performance, but does not guarantee any money will change hands at current levels.Pembridge will pay Capstone $5 million once Minto has reached 60% mill capacity, another $5 million when that capacity is reached and the copper price has averaged over $3 p...Read More
China Nonferrous Metals Industry Association Antimony Branch (CAA) has held an industry meeting calling major producers to reduce output in a move that is likely to halt the price decline since the start of the year, market sources told Fastmarkets. Several major antimony producers, whose output accounts for more than 80% of the country's total volume, including China Minmetals Rare Earth Co, Huna...Read More
The Turkish deep-sea scrap markets remained quiet on Tuesday June 4 with participants still absent because of the week-long Eid al-Fitr public holiday, sources told Fastmarkets.This lack of market activity was expected and was likely to continue for the rest of the week, with Turkey being on public holiday from June 3 until June 7. The holiday marks the end of the period of...Read More
Markets remain nervous about the trade wars and the impact these are having on global economic growth with recent manufacturing purchasing managers' index (PMI) data showing a combination of manufacturing contraction, stable but low growth, or slowing growth.Equites continue to show weakness while gold and the Japanese yen attract haven demandLow treasury yields and US President Donald Trump's age...Read More
China's domestic hot-rolled coil prices continued to weaken on Tuesday June 4, which led exporters to lower their offers as well.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($562-563) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,800-3,820 yuan per tonne, down 30 yuan per tonnePrices continued to drop with thin trading reported in eastern China. Mills kept their offers sta...Read More
European steelmakers have called on the region's policy-makers to take immediate action to strengthen the safeguard measures for the steel industry, with effect from July 1.The call was made in an open letter signed by the chief executive officers of 45 EU steel companies, and was dated Monday June 3."Europe's steel industry is in crisis because of external factors, yet as a strategic sector it un...Read More
China's rebar prices fell further on Tuesday June 4 in both the domestic and export markets amid attempts by sellers to secure orders.Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($565-572) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,820-3,870 yuan per tonne, down 30 yuan per tonneStockists are mostly pessimistic about demand in the spot market over the next month or two...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More
The Turkish deep-sea scrap markets remained quiet on Tuesday June 4 with participants still absent because of the week-long Eid al-Fitr public holiday, sources told Fastmarkets.This lack of market activity was expected and was likely to continue for the rest of the week, with Turkey being on public holiday from June 3 until June 7. The holiday marks the end of the period of...Read More
Iron ore prices rebounded above $100 per tonne cfr China on Tuesday June 4 after declining for several days straight.MB 62% Fe Iron Ore Index: $100.38 per tonne cfr Qingdao, up $1.26 per tonne. MB 62% Fe Pilbara Blend Fines Index: $98.86 per tonne cfr Qingdao, up $1.26 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $104.50 per tonne cfr Qingdao, up $1.93 per tonne. MB 58% Fe Premium Index: $94.4...Read More
China's rebar prices fell further on Tuesday June 4 in both the domestic and export markets amid attempts by sellers to secure orders.Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($565-572) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,820-3,870 yuan per tonne, down 30 yuan per tonneStockists are mostly pessimistic about demand in the spot market over the next month or two...Read More
South Korean steel majors Posco and Hyundai Steel have both been asked by provincial governments to idle their blast furnaces over pollution levels, market sources told Fastmarkets MB on Tuesday June 4."However, there is no confirmation as to whether both steelmakers will stop their blast furnaces and they...Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 4. Please click...Read More
The premiums offered on supplies of aluminium to Japan in the third quarter of 2019 have been heard at $115-120 per tonne cif main Japanese ports (MJP), about 12% above the second-quarter premium, due to tighter supply, Fastmarkets learned on Tuesday June 4.One major producer offered a premium over the London Metal Exchange cash price of $115 per tonne and another $120 per tonne for July-September...Read More