ArcelorMittal has presented Italian authorities with a list of the additional commitments it has accepted for the lease and purchase agreement for it to acquire steelmaker Ilva.The steelmaker and the Italian ministry of economic development made a joint statement on the matter after a meeting held on Monday July 30."The enhanced commitments we presented today really do represent ArcelorMittal's be...Read More
European distributors of flat steel products reported a 5.1% year-on-year decrease in shipment volumes in June, the regional federation for the steel, tube and metals distribution and trade, Eurometal, said on Monday July 30."After some quite high inventories at the turn of the year, mainly in coated products, stocks at EU steel service centers have now come back [down] to normal [levels]," Eurome...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
Import prices for rebar in Singapore were stable over the past week on a lack of demand in the spot market.Metal Bulletin's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $553-555 per tonne cfr for the week to Monday July 30, unchanged from the preceding week.Buyers were not in the market for cargoes h...Read More
Shipping data shows total South African manganese ore exports exceeded 8.3 million tonnes in the first six months of 2018, up 17% from the same period in 2017. The vast majority of the material was exported to China, coming in at over 5 million tonnes. Exports to India dropped to just under 700,000 tonnes. High ore prices have been deterring Indian buyers from the market because they cannot earn a...Read More
Three-month base metals prices on the London Metal Exchange were broadly weaker on the morning of Monday July 30, with zinc (-0.9%), copper (-0.7%), lead (-0.2%) and nickel (-0.1%) all down, while aluminium and tin prices were up by 0.4% and 0.3% respectively. The weakness in copper – at $6,202 per tonne as at 06.15am London time – comes despite the union at Chile’s Escondida copper...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
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Caterpillar gained $4.82 to $147.38 after reporting higher than consensus second quarter earnings. The company also raided its target price. AT&T added $0.39 to $31.47 after Bank of America raised its rating on the stock to Buy from Hold.Twitter (TWTR $34.30) is expected to open lower af...Read More
– SATURDAY, JULY 28, 2018WITH YOUR HOST, MARK LEIBOVIT AND GUESTS: DON VIALOUX, HENRY WEINGARTEN, AND SINCLAIR NOEhttps://tinyurl.com/y7vg2um7 Seasonal Advantage Portfolio IntroductionFollowing is a link:https://www.youtube.com/watch?v=ElsfLfSC9RM&feature=youtu.be The Bottom LineThe proverbial "Summer Rally" in North American equity markets came to an end last week. U.S. and Ca...Read More
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 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 oreRio Tinto, tender, 190,000 tonnes of...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
Seaborne coking coal spot market was largely unchanged on Monday July 30 after a flurry of transactions last week. A cargo of lower-ranked second-tier hard coking coal with an early-August laycan was traded at $165 per tonne cfr China. "The seller will be bearing the cost of demurrage due to the congestion at the arrival port. The demurrage cost is equivalent to around $3 per tonne, hence we agree...Read More
China's domestic coking coal market weakened in July amid production restrictions in the country's steelmaking hub of Tangshan and four rounds of coke price cuts by a major mill.Metal Bulletin's weekly assessment of prices for domestic hard coking coal in Shanxi delivered to Tangshan stood at 1,360-1,700 yuan ($200-250) per tonne on Friday July 27, compared with 1,390-1,750 yuan per tonne on June...Read More
Antimony prices in Europe rose 0.6% from the midweek assessment on Friday July 27, while prices in China were stable week on week on low demand. Prices for antimony with bismuth content below 100ppm in-warehouse Rotterdam edged up to $7,900-8,200 per tonne on Friday from $7,800-8,200 per tonne on Wednesday, when prices had climbed from $7,800-8,100 per tonne. Metal Bulletin's MMTA standa...Read More
Three-month base metals prices on the London Metal Exchange were broadly weaker on the morning of Monday July 30, with zinc (-0.9%), copper (-0.7%), lead (-0.2%) and nickel (-0.1%) all down, while aluminium and tin prices were up by 0.4% and 0.3% respectively.The weakness in copper - at $6,202 per tonne as at 06.15am London time - comes despite the union at Chile's Escondida copper mine, the world...Read More
Earnings at Tubacex, the Spanish manufacturer of seamless stainless steel tube, improved significantly in the first half of 2018 due to a stronger focus on high-added-value materials, the company said on Friday July 27.The company's sales jumped by 49.4% year-on-year to ?,?360.6 million ($420.3 million) in the first six month of 2018, while its earnings before interest, taxes, depreciation and amo...Read More
Copper Live – COPPER Buy Call caf given at price 428 Achieved 1st Target 429.9 & 2nd Target 430.8. Profit of 2.8 Points per lotcaf :Mcx Copper Tips - BUY Copper Aug at CMP 428 for Target 429.90 - 430.80 with SL below price 425.90 Read More
Gold futures closed lower on the week, losing value for the third consecutive week. More foreboding is the fact that not only has gold closed at the lowest value this year, but the last time gold futures closed near this level was almost a year ago. During the week of August 26, 2017, gold futures closed at $1,210 an ounce, and then opened at $1,211 the first week of July 2017. Gold would gain val...Read More