Three-month base metals prices on the London Metal Exchange were for the most part little changed this morning, Wednesday September 5, with consolidation mode setting in after Tuesday’s losses. The main exceptions were nickel, which was down by 0.4%, and lead, which was up by 0.4%. Aluminium was up by 0.2%, while the rest were either side of unchanged. Copper was up by 0.1% at $5,846 per tonn...Read More
Iranian export billet and slab prices were mostly stable over the week ended Wednesday September 5, and several deals were heard to Southeast Asia and to other parts of the Middle East.Shipping from Iran has become more difficult because the introduction of new trading sanctions by the United States, and increased freight costs, have reduced the number of available vessels willing to carry Iranian...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billet, slabBilletIran, export, billet, traded at $460-467 per tonne fob, to South East Asia.Iran, export, billet, traded at $463 per...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday September 5:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.20 per lb from $11.80-12.00 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg...Read More
The following Metal Bulletin minor metals prices changed on Wednesday September 5:Minor metals Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 52,000-53,000 yuan per tonne from 52,000-52,800 yuan Cobalt MB free market high grade, $/lb: $33.00-34.10 per lb from...Read More
Key data from the Wednesday September 5 pricing session in Europe. Key drivers - Persistent tightness in ferro-titanium availability, as well as higher grade scrap - particularly from Russia, has propelled markets higher again in the past week. Consumer buying has yet to emerge in full after the seasonal summer slowdown, potentially paving the way for a break above $6 per kg for alloy, sources...Read More
The latest metal markets news and price moves to start the North American day on Wednesday September 5. Base metals' prices on the London Metal Exchange were mostly lower during morning trading, buffeted by continued strength in the US dollar while emerging market weakness, notably in Argentina, continues to rattle commodity investment.That said, marginal upticks in the three-month copper and nick...Read More
Technical action near the close: Mexico iShares moved below $48.92. NAFTA negotiations requiring Congressional approval with both Canada and Mexico have yet to be completed.Brazil iShares showing volatility prior to the election on October 7thCanadian "oily" stocks remain under pressure despite higher crude U.S. crude oil prices. More fallout from delay of the TransMountain Pipeline expansion!Gree...Read More
The spot prices of manganese ore at the Chinese ports of Tianjin and Qinzhou have been diverging between Australian-origin and South African-origin since the start of August.Australian lump fot prices are now around 62 yuan ($9.07) per metric tonne unit in Tianjin port, the country's major manganese ore trading hub, according to sources in China. This equates to about $7.70 per mtu. Meanwhile fot...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday September 5. Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Wednesday, with nickel leading the complex lower. Tin was the only metal record any gains.Check Metal Bulletin's live futures report here. A Japanese consumer has conclud...Read More
The Turkish steel mills continued to book deep-sea scrap on Wednesday September 5, with prices rising.Three steel producers booked six deep-sea cargoes on Wednesday, totaling almost 160,000 tonnes, according to market sources.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $317 per tonne cfr.The same mill booked a second Baltic Sea cargo...Read More
Iron ore prices were little changed on Wednesday September 5 following reports of steelmaking restriction plans for China's steelmaking hub of Tangshan being reissued.Metal Bulletin 62% Fe Iron Ore Index: $66.79 per tonne cfr Qingdao, up by $0.17 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $65.82 per tonne cfr Qingdao, up by $0.17 per tonne.Metal Bulletin 62% Fe Iron Ore Index-Low A...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 transaction: iron oreIron oreVale, Global Ore, 105,000 tonnes of 65% Fe Iron Ore Carajas, traded late...Read More
Vietnam scrap prices started to move up after sellers increased their offers in the first half of the week, market sources told Metal Bulletin on Wednesday September 5."Prices are expected to exit the price trough this week and start ascending slowly," a trader in northeast Asia said."Especially after Turkish import prices increased yesterday," he added, referring to a deal done at $320 per tonne...Read More
The seaborne coking coal spot market was mostly stable on Wednesday September 5 with end-users retreating to the sidelines to await more clarity on price trends before they decide their next move.Two cargoes of premium mid-vol hard coking coal were traded at $184 per tonne fob Australia to the ex-China market, sources confirmed to Metal Bulletin during the day.A miner and a Chinese end-user also a...Read More
Coking coal futures bucked a downtrend in China's ferrous futures market during morning trading on Wednesday September 5.Futures closing prices - morning sessionShanghai Futures ExchangeJanuary rebar: 4,078 yuan per tonne ($596), down 32 yuan per tonneJanuary hot-rolled coil: 4,099 yuan per tonne, down 17 yuan per tonneDalian Commodity ExchangeJanuary iron ore: 485 yuan per tonne, down 2.50 yuan p...Read More
Base metals' prices on the London Metal Exchange were mostly lower during morning trading on Wednesday September 5, buffeted by continued strength in the US dollar while emerging market weakness, notably in Argentina, continues to rattle commodity investment.That said, marginal upticks in the three-month copper and nickel prices over the morning come after both metals had dropped more than 2% by T...Read More
China's domestic rebar prices retreated slightly on Wednesday September 5 amid a drop in trading activity. Domestic Eastern China (Shanghai): 4,440-4,480 yuan ($649-655) per tonne, down 10 yuan per tonneNorthern China (Beijing): 4,330-4,360 yuan per tonne, down 20 yuan per tonneBuyers, having secured materials actively in the past couple of down, slowed down their procurement on Wednesday.Weakenin...Read More
China's hot-rolled coil prices retreated on Wednesday September 5 amid weak demand despite mills in Tangshan - the country's steelmaking hub in the north - confirming government-mandated production cuts for this month.DomesticEastern China (Shanghai): 4,350-4,360 yuan ($636-638) per tonne, down 10-30 yuan per tonneNorthern China (Tianjin): 4,250-4,260 yuan per tonne, narrowing downward 10 yuan per...Read More
Three-month base metals prices on the London Metal Exchange were for the most part little changed this morning, Wednesday September 5, with consolidation mode setting in after Tuesday's losses.The main exceptions were nickel, which was down by 0.4%, and lead, which was up by 0.4%. Aluminium was up by 0.2%, while the rest were either side of unchanged. Copper was up by 0.1% at $5,846 per tonne.Volu...Read More