Codelco expects to maintain current copper output at around 1.68 million tonnes per year over at least the next decade, it said, despite operational changes and sector headwinds.Production will be slightly lower than it was in the past 10 years, during which it averaged 1.69 million tpy, the Chilean state-owned copper producer said in its business and development plan on Thursday May 23. Stil...Read More
UK warehousing and logistics company Henry Bath announced its appointment of Jerome Hack to the position of general manager on Friday May 24.Hack will continue to develop Henry Bath's business in the United...Read More
Fastmarkets' assessment of the tin warrant premium available on the London Metal Exchange climbed by more than 60% on Tuesday May 21, reaching its highest level on record amid a flurry of higher quality stock inflows.This week, Fastmarkets' assessment of 99.85% Southeast Asian tin warrants, on an in-warehouse basis, soared to $20-100 per tonne on May 22, from $15-30 per tonne a week earlier.This w...Read More
Nickel's three-month price on the London Metal Exchange increased by more than 2.5% during morning trading on Friday May 24, with its price action appreciating back over $12,000 per tonne while its volumes traded led the complex. More than 5,200 lots of nickel were exchanged as of 9:37am London time, amounting to around $317 million of metal traded. The easing tightness in the metal's forward spre...Read More
Deliverable nickel stocks in Shanghai Futures Exchange-approved warehouses edged up by 3.1% week on week on Friday May 24 amid weakened demand for the metal, while inventories of the other base metals all declined.SHFE nickel stocks totaled 9,098 tonnes on Friday, up by 277 tonnes from 8,821 tonnes on May 17. The largest inflow of nickel this week was registered at SIPG Logistics' warehouse in Sha...Read More
A broad base of markets have steadied themselves this morning, Friday May 24, following the risk-off that unfolded over Wednesday and Thursday and was driven by deteriorating US-China trade relations and further weakness in flash purchasing managers' index (PMI) data.EU manufacturing PMI drops to 47.7, US equivalent falls 2 points to 50.6Investors favor gold and US treasuries as risk-off increases...Read More
The South American flat-rolled steel import market was mixed this past week, with most prices flat due to sluggish demand in the region despite the recent Chinese downtrend.Fastmarkets assessed the price for imported hot-dipped galvanized coil at $645-660 per tonne cfr main ports on Friday May 24, unchanged from the previous week. The price for imported heavy plate was also sta...Read More
The price of steel coil products in Turkey increased in the week to Friday May 23 in response to improving demand after the United States halved import duties on Turkish steel last week, sources told Fastmarkets.The US halved its import tariffs on Turkish steel to 25% on May 17.International market participants warned Turkish producers to avoid sudden price increases, however.D...Read More
CIS export steel billet prices continued to climb in the week ended Friday May 24, with customers finally accepting higher prices in bookings.Billet offers from the Black Sea basin were heard within the range of $430-445 per tonne fob Black Sea, depending on supplier, but few customers were ready to accept such prices, with bids still being reported...Read More
Prices in Southeast Asia's steel billet market remained stable on Friday May 24 amid weak demand in the major Southeast Asian import markets of the Philippines and Indonesia.Market participants in the CIS adjusted their offers upward in response to bullish market sentiment after the United States reduced its tariff on imports of Turkish steel to 25% from 50%.Fastmarkets' daily import price assessm...Read More
Sentiment among participants in the Chinese hot-rolled coil market was mixed on Friday May 24 after prices dropped in the east of the country.DomesticEastern China (Shanghai): 4,010-4,020 yuan ($580-581) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, unchangedTrading in Shanghai was thinner than yesterday, even though many downstream compan...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 transaction: hot-rolled coilHot-rolled coilEast China, domestic,...Read More
Pig iron exporters in the south of Brazil have sold out their available tonnages for July and have increased their offer prices, Fastmarkets heard on Friday May 24.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region of the country was $323-324 per tonne fob on May 24. This was up slightly from $320-322 per tonne fob a week before, but on different fi...Read More
The price of shredded ferrous scrap imported into India went up by $10 per tonne after the end of the country's general election process, which was won by the incumbent BJP party, market sources told Fastmarkets on Friday May 24.Fastmarkets' weekly index for containerized imports of shredded scrap into India went up by $10.46 per tonne to $330.25 per tonne cfr Nhava Sheva on Friday, from $319.79 p...Read More
Rogesa, a joint subsidiary of German steelmakers Dillinger and Saarstahl, is to invest ?,?14 million ($15.62 million) to make use hydrogen-rich coke gas in its blast furnaces, to gradually reduce its reliance on coking coal, the company said on Friday May 24.The company, which produces pig iron for its two owners, plans to "introduce a portion of the hydrogen-rich coke gas produced inside the inte...Read More
Seaborne iron ore prices advanced again on Friday May 24 amid robust trading activity.MB 62% Fe Iron Ore Index: $105.32 per tonne cfr Qingdao, up by $1.53 per tonne.MB 62% Fe Pilbara Blend Fines Index: $103.51 per tonne cfr Qingdao, up by $1.53 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $108.80 per tonne cfr Qingdao, up by $0.90 per tonne.MB 58% Fe Premium Index: $96.02 per tonne cfr Qingdao...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 transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at $108.80 per tonne cfr China, laycan June 15-24.Vale, Global Ore, 120,000 tonnes of 65% Fe Iron Ore Carajas, sold at $119.30...Read More
The London Metal Exchange has approved the Registered Intermediating Broker (RIB) Tier 2 membership of GFI Brokers and ICAP Energy, it said in a note to members on Friday May 24.Both brokers will now be able to commence activity as RIBs, allowing them to register trades directly into the LME's matching system - known as LMEsmart - on behalf of clearing members or clients.London-based ICAP Energy i...Read More
Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Friday May 24, with a softening in the dollar overnight providing much-needed relief to the complex. Copper, aluminium, lead and nickel were up between 0.3% and 0.8% on the SHFE this morning, while zinc and tin declined by 0.4% and 0.3% respectively. The red metal's most-traded July contract on the SHFE r...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More