The price of domestic auto bundle scrap in Turkey has been steady over the past week while the price of shipbreaking scrap has fallen slightly because of weak demand, sources said on Monday July 30.Steel producers in the Izmir region decreased their buying price for ship scrap by $5-9 per tonne over the week to $330-338 per tonne delivered.Metal Bulletin's weekly price assessment for Turkish domes...Read More
Physical iron ore prices were little changed on Monday July 30 with many market participants adopting a wait-and-see stance following the release of a local government document on steelmaking restrictions in China.Metal Bulletin 62% Fe Iron Ore Index: $67.65 per tonne cfr Qingdao, up by $0.16 per tonneMetal Bulletin 62% Fe Pilbara Blend Fines Index: $66.58 per tonne cfr Qingdao, up by $0.18 per to...Read More
The export price for CIS-origin steel slab inched upward over the week ended Monday July 30 with several bookings heard done at higher prices.Metal Bulletin's CIS export slab price assessment narrowed upward by $5 per tonne to $532-535 per tonne fob Black Sea on July 30, against $527-535 per tonne fob Black Sea last week.A cargo of 20,000 tonnes of Ukraine-origin slab was heard booked in Turkey wi...Read More
Prices for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's central region around Moscow will increase in August, producers have told Metal Bulletin, with higher demand expected and outages planned in September."Mills have told us that they will increase prices in August," a steel trader in Russia said. "This will stimulate demand, while some outages are expected in early autumn."Metal...Read More
The export markets for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States were flat as buyers remained wary of further price declines due to weak prices for Chinese material. One trader told Metal Bulletin that buyers right now prefer to postpone bookings "and wait [to see] what will happen to [the] Chinese market, as further reduction is possible the...Read More
Katoen Natie Commodities Antwerp has withdrawn entirely from London Metal Exchange warehouse services in Europe, the exchange said.This follows the exit last month of its Singapore branch from LME warehousing in Asia."Katoen Natie Commodities Antwerp has withdrawn from the LME warehouse services with immediate effect," the LME said in...Read More
European lead producer Recylex's revenue from lead sales fell by 18% year on year in the first half of this year due to a transitioning of its Weser-Metall smelter to a new reduction furnace. Recylex made ?,?124.2 million ($145.5 million) in the first half of 2018, compared with ?,?151.4 million in the same period last year. Average lead prices on the London Metal Exchange were down just 1% compar...Read More
The latest metal markets news and price moves to start the North American day on Monday July 30.Copper prices on the London Metal Exchange were down 1.4% during morning trading on Monday July 30, with the market wary of ongoing contract disagreements at BHP's Escondida mine in Chile.Falling to an intraday low of $6,162 per tonne, copper's three-month price...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Monday July 30.The majority of base metals prices on the Shanghai Futures Exchange ended the morning trading session on Monday in positive territory, with only copper and lead bucking the general strength. Check Metal Bulletin's live futures report here.The US Midwest aluminium premium has clawed it...Read More
It's been an uncharacteristically stable year for the benchmark iron ore price, with the Metal Bulletin Iron Ore Index-62 (MBIOI-62) moving within a 26% range this year, and a less than 10% range over the past four months.Contrast this with last year's MBIOI-62 price range of 78%, and 112% the year before that. But while it's been relatively quiet on the mid-grade front, the action in the inter-gr...Read More
Katoen Natie Commodities Antwerp has withdrawn entirely from London Metal Exchange warehouse services in Europe, the exchange said.This follows the exit last month of its Singapore branch from LME warehousing in Asia."Katoen Natie Commodities Antwerp has withdrawn from the LME warehouse services with immediate effect," the LME said in...Read More
Base metals on the London Metal Exchange ended mostly higher at the close of trading on Monday July 30, led by a 1% climb in aluminium prices while broad risk aversion continues to dominate market sentiment. Elsewhere, lead and tin prices edged higher over the afternoon, with the latter climbing back over $20,000 per tonne for the first time since June 27. While a downtick in the US dollar in...Read More
Comex copper prices drifted into negative territory to open the week on Monday July 30, although the market was awaiting supply news out of South America.The price of copper for September settlement on the Comex division of the New York Mercantile Exchange fell by 1.65 cents or 0.6% to $2.7855 per lb."While we think the summer sell-off in copper is not justified from a fundamental perspective, we...Read More
Base metals on the London Metal Exchange ended mostly higher at the close of trading on Monday July 30, led by a 1% climb in aluminium prices while broad risk aversion continues to dominate market sentiment. Elsewhere, lead and tin prices edged higher over the afternoon, with the latter climbing back over $20,000 per tonne for the first time since June 27. While a downtick in the US dollar in...Read More
Turkish steel producers stayed out of the deep-sea scrap markets at the start of the week, with no new deep-sea cargoes coming to light on Monday July 30.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $328.77 per tonne cfr, unchanged from July 27.The daily index for similar material from the United States closed at $335.93 per tonne cfr,...Read More
Teck Resources expects to remove partial force majeure on its germanium output after the fourth-quarter restart of one of the fuming furnaces at its zinc and lead smelting and refining complex, Trail Operations.A spokesperson for the Canadian company told Metal Bulletin that repair of the furnace, which suffered an operating disruption after a breakdown of equipment during an explosion in January,...Read More
Comex copper prices drifted into negative territory to open the week on Monday July 30, although the market was awaiting supply news out of South America.The price of copper for September settlement on the Comex division of the New York Mercantile Exchange fell by 1.65 cents or 0.6% to $2.7855 per lb."While we think the summer sell-off in copper is not justified from a fundamental perspective, we...Read More
The latest metal markets news and price moves to start the North American day on Monday July 30.Copper prices on the London Metal Exchange were down 1.4% during morning trading on Monday July 30, with the market wary of ongoing contract disagreements at BHP's Escondida mine in Chile.Falling to an intraday low of $6,162 per tonne, copper's three-month price...Read More
Copper prices on the London Metal Exchange were down 1.4% during morning trading on Monday July 30, with the market wary of ongoing contract disagreements at BHP's Escondida mine in Chile. Falling to an intraday low of $6,162 per tonne, copper's three-month price has shed more than 3% since hitting a recent high of $6,378 per tonne on July 26. Traders are stepping back from the copper market, awai...Read More
Prices for US domestic and imported merchant bar products both held steady month on month, due to stable market conditions and the Section 232 tariffs largely excluding offshore bars from the US market.American Metal Market's latest assessment for US domestic 2 x 2 x 1/4 -inch angle merchant bar remained at $38.05 per hundredweight ($761 per short ton) on Friday July 2, where the price land...Read More