Investors keen to tap into the electrification of the world's transport networks should look upstream to the battery metals market instead of buying shares in automakers, according to Ulrich Ernst, the chief executive officer of Blackstone Resources.The electric vehicle (EV) revolution will first emerge as a mixture of differing technologies, from hybrids to all-electric cars powered by an ever-ev...Read More
Comex copper prices continued to demonstrate that Tuesday's sell-off was not a new trend on Thursday September 6 morning in the US, with the base metals group benefiting from a weaker dollar and solid US data.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange rose 3.70 cents, or 1.4%, to $2.6470 per lb.Following the Labor Day weekend, copper prices tumb...Read More
Three-month base metals prices on the London Metal Exchange were on divergent paths this morning, Thursday September 6, after a mixed performance on Wednesday.Zinc led on the upside with a 0.9% rebound, while nickel remained under pressure with a 0.5% fall. Lead was up by 0.3% while the rest were little changed, with copper prices at $5,883 per tonne. Volume across the complex has been above avera...Read More
Investors keen to tap into the electrification of the world's transport networks should look upstream to the battery metals market instead of buying shares in automakers, according to Ulrich Ernst, the chief executive officer of Blackstone Resources.The electric vehicle (EV) revolution will first emerge as a mixture of differing technologies, from hybrids to all-electric cars powered by an ever-ev...Read More
Cobalt metal prices stabilized during the second half of August after inquiries resumed when market participants returned from the summer break, while sulfate prices continued to slide. Price moves: Aggressive summer selling continued into August and pushed Metal Bulletin's low-grade cobalt price down to an eight-month low. But a resumption of buying interest sent out a signal that the blue m...Read More
Demand for flat steel in Turkey is expected to remain slow throughout September, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday September 6.Local producers have filled their order books until the end of October, and are planning to increase their prices for November bookings, despite weak local demand.On August 10, Uni...Read More
The London Metal Exchange's senior vice president of business development, Marko Kusigerski, has left the exchange after more than four years, Metal Bulletin has learned, while Mario Quonils has joined the bourse as chief technology officer. Kusigerski joined the LME in 2014 as a business development project manager for the newly established LMEbullion electronic auction system, working up to assi...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been largely unchanged over the week, but they are expected to pick up, sources told Metal Bulletin.Some mills in Northern Europe have already started to offer HRC at higher prices, which has resulted in some increases of about ?,?5 ($5.80) per tonne, according to market participants. The increase of prices in Northern and Central Europe has...Read More
US domestic rebar prices remain robust in the face of softening scrap, while the forecast for imported material has remained in limbo ever since the US doubled the Section 232 tariffs on Turkish steel on Friday August 10.American Metal Market's assessment for domestic rebar remained at $35-36 per hundredweight ($700-720 per short ton) fob Midwest mill on Wednesday September 5, with imported rebar...Read More
Turkish domestic prices for rebar and wire rod continued to increase over the past week with the exchange-rate value of the country's lira falling, and the costs for imported scrap rising, sources said on Thursday September 6.Metal Bulletin's weekly price assessment for domestic rebar on Thursday was TRY3,950-4,070 ($594-612) per tonne ex-works, including 18% VAT, up from last week's TRY3,760-3,92...Read More
Turkish rebar and wire rod export prices have strengthened on demand from Southeast Asian buyers and firmer imported scrap values, sources said on Thursday September 6.Metal Bulletin's weekly price assessment for rebar exports out of Turkey was $510-515 per tonne fob, up from last week's $500-510 per tonne.Mills in Turkey were offering rebar in the range of $515-530 per...Read More
Turkish steel producers were in negotiations to buy deep-sea scrap shipments on Thursday September 6 but went through the day without making any bookings.Over the course of Wednesday, mills in the country had booked six deep-sea cargoes totalling 160,000 tonnes, and they have continued to negotiate for more material, Metal Bulletin was told."There are offers in the market at around $320 per tonne...Read More
Seaborne iron ore prices picked up on Thursday September 6 with index-linked shipments of Pilbara Blend fines traded at little or no discount.Metal Bulletin 62% Fe Iron Ore Index: $68.39 per tonne cfr Qingdao, up by $1.60 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $67.42 per tonne cfr Qingdao, up by $1.60 per tonne.Metal Bulletin 62% Fe Iron Ore Index, Low Alumina: $74.60 per tonne...Read More
China's ferrous futures rose during morning trading on Thursday September 6, following the confirmation of steel production restrictions in Tangshan for this month, which had been issued earlier this week only to be withdrawn shortly after.Futures closing prices - morning sessionShanghai Futures ExchangeJanuary rebar: 4,137 yuan ($605) per tonne, up 39 yuan per tonneJanuary hot-rolled coil: 4,135...Read More
Demand for flat steel in Turkey is expected to remain slow throughout September, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday September 6.Local producers have filled their order books until the end of October, and are planning to increase their prices for November bookings, despite weak local demand.On August 10, Uni...Read More
Turkish billet prices have strengthened over the past week, in line with the increasing scrap values, sources said on Thursday September 6.Although, the demand for imported billet in Turkey was sluggish with mills focusing on scrap imports instead, market participants said.Metal Bulletin's weekly price assessment for billet imports into Turkey was $485-490 per tonne cfr on September 6, up from $47...Read More
Steel billet import prices in Egypt widened in the week ended Thursday September 6, with several deals heard from the CIS region and Iran, while domestic rebar prices were stable.Metal Bulletin's weekly price assessment for steel billet imported into Egypt was $495-503 per tonne cfr on Thursday, widening from $500 per tonne cfr when it...Read More
The molybdenum markets in Europe moved up in the middle of the week that began on Monday September 3, with values being pushed up by increased prices for ferro-molybdenum and signs of stronger deals in Asia, sources told Metal Bulletin this week.But suppliers remained wary about committing to business before consumer businesses were fully staffed again after the summer holiday period, which will p...Read More
Import prices for stainless steel in East Asia dipped over the past week, pressured by soft regional demand and a downtrend in the nickel market, although some sellers in China were still reluctant to lower their offers. Metal Bulletin's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,150-2,195 per tonne cif East Asian ports for the week ended Wednesday...Read More
German steel conglomerate ThyssenKrupp is planning to build a new hot-dipped galvanizing line in Dortmund, Germany, the company said earlier this week.The new line will be built next to the existing one to allow them to share technical and supply services. The new unit will increase the site's capacity for hot-dipped coated products by 500,000 tonnes per year to a total of 1 million tpy.The announ...Read More