Iron ore prices stayed rangebound on Friday July 13 amid continuing concerns about restrictions in China that are intended to reduce environmental emissions.Metal Bulletin 62% Fe Iron Ore Index: $64.04 per tonne cfr Qingdao, down by $0.02 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.71 per tonne cfr Qingdao, down by $0.02 per tonneMetal Bulletin 58% Fe Premium Index: $52.03 per to...Read More
China's domestic prices were unchanged on Friday July 13 amid persistently sparse trading, while export prices were largely steady as well for similar reasons.DomesticEastern China (Shanghai): 4,260-4,280 yuan ($638-641) per tonne, unchanged Northern China (Tianjin): 4,150-4,160 yuan per tonne, unchangedDespite slight gains in the futures market, prices in the spot market held steady amid thin tra...Read More
Prices for alloy steel scrap in the UK and Europe were stable this week amid heavily subdued trading and largely flat nickel prices, Metal Bulletin learnt on Friday July 13.Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,160-1,180 ($1,354-1,378) per tonne cif main European ports on July 13, unchanged week on week.In the UK, the domest...Read More
Brazilian slab export prices widened downward this week with offers and deals for Brazilian material starting to be seen out of the North American market.Metal Bulletin's weekly assessment of Brazilian slab export prices was $520-595 per tonne fob on Friday July 13, compared with $585-595 per tonne fob on July 6.Most of the volumes booked this week were at prices within the range of $585-595 per t...Read More
The escalating China-US trade tensions and China supply-side reforms were in the spotlight at the Base Metals Forum held by Citic Securities this week in Wuxi, Jiangsu province.Held on Thursday July 12, market participants focused on the effect of the trade war and the fundamentals of the policy-driven and volatile aluminium market."We have seen a decline in base metals in response to the US...Read More
Nickel prices on the London Metal Exchange once again fell below $14,000 per tonne at the close of trading on Friday July 13, with broad gains across the complex capped by the ongoing trade dispute between the US and China. The metal's three-month price continues to exhibit volatile price shifts, exemplified in today's intraday trading range of $390 per tonne. "Broad-based weakness in the bas...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metals The main union at Escondida, the world's largest copper mine, has rejected the company's latest contractual offer and threatened to strike if BHP do not make substantial changes to its wage offer. Two companies have exited the London Metal Exchange warehousing business in t...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Yokohama, Nagoya and Osaka rose 8% month on month in June, according to data from Marubeni Corp released on Friday July 13. The MJP aluminium stocks totaled 306,900 tonnes at the end of June, up 17.9% from the same time last year. Total MJP stocks have continued to rise after a fall in the first quarter with an increase of 6.4% fro...Read More
The main union at Escondida, the world's largest copper mine, has rejected the company's latest contractual offer, the union said on Thursday July 12. The offer, said to include a bonus of 4.5 million Chilean pesos ($7,000) with no base salary increase or schooling benefits was deemed "unacceptable," the union said. "If there is no substantial change, the Union will be...Read More
The latest news and price moves to start the North American day on Friday July 13.Base metals price on the London Metal Exchange edged mostly lower during morning trading, pressured by further uncertainty over US-Sino trade relations after the bilateral trade surplus between the two countries widened to record levels in June.Here's how base metals prices looked at 12pm London time:Read...Read More
Chinese steel mills Lianxin Steel and Shandong Laigang Yongfeng have each ordered thermomechanical rebar rolling mills (TMbaR) with capacity for 1 million tonnes per year, equipment manufacturer SMS Group said on Friday July 13."The TMbaR mill for Shandong Laigang Yongfeng's Dezhou site [in Shandong province in eastern China] is part of a capacity conversion program using the electric arc furnace...Read More
Chinese long steelmaker Guangxi Guixin Iron & Steel is to start up a new, more environmentally friendly, electric-arc furnace (EAF) in mid-2019.It will have a tapping weight of 80 tonnes and will replace several smaller EAFs.Guangxi Guixin has a total long steel capacity of 8 million tpy, including 7 million tonnes of bar production and 1 million tpy of wire rod capacity.It runs three 1080 cubic m...Read More
Domestic prices for rebar in Poland are expected to rise with support from good demand and reduced volumes of material in the market, sources told Metal Bulletin on Friday July 13.In the meantime, Metal Bulletin's price assessment for domestic 12mm B500B-grade rebar in Poland was stable week-on-week at 2,250-2,300 zloty ($607-620) per tonne ex-works on July 13.The assessment reflected the latest t...Read More
Prices for coated steel coil products in Turkey were stable in the week ended Friday July 13 with demand in the local and export markets being no better than slow, Metal Bulletin has heard.Domestic pricesOne producer in northern Turkey was offering 0.50mm hot-dipped galvanized coil (HDG) at $770 per tonne ex-works.Another northern producer was offering similar product at $785-800 per tonne ex-work...Read More
Most flat steel prices in Turkey's domestic and import markets were largely unchanged this week, while export prices fell, sources told Metal Bulletin on Friday July 13.Domestic producers have closed their order books for September production, but have not started to offer October production yet.Domestic pricesHot-rolled coil (HRC) producers in Turkey sold material at $605-620 per tonne ex-works f...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday July 13:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $10.90-11.05 per lb from $10.75-10.90Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $26.90-27.30 per kg from $26.80-27.10Ferro-molybdenum US 65-70% Mo, $/Ib: $12.20-12.45 per Ib from $12.35-12.55Tungsten European free market...Read More
Key data in the pricing session in the week ending Friday July 13. China Activity in China's ferro-chrome market was quiet with prices falling due to the production increase that followed the restart of Inner Mongolian smelters. There was no liquidity and stability in the imported charge chrome market amid a standoff...Read More
Domestic Chinese battery-grade lithium carbonate prices fell again this week due to lackluster demand from consumers, while hydroxide prices stayed firm although lower offers were reported to Metal Bulletin. Chinese battery-grade lithium carbonate prices continued to fall while hydroxide prices were stable on weak demand. Ample availability and lower prices for battery-grade and technical & i...Read More
Indonesia's growing presence in the international market as a stainless steel exporter - made possible by an influx of Chinese-backed producers in the country - presents a potential challenge to China's dominance of the Asian markets, participants told Metal Bulletin.Playing a key role in the market and squeezing China's market share currently is PT Indonesia Tsingshan Stainless Steel, a low-cost...Read More
Pig iron buyers in the United States did not fulfill expectations and resume their booking activities this week, because bids and offers in the market diverged.Metal Bulletin's price assessment for US pig iron imports was unchanged at $410-415 per tonne cfr on Friday July 13 because no new bookings have been heard.Bids from buyers in the country came at $405 per tonne cfr, $5-10 per tonne...Read More