Base Metal Stocks Articles

PRICING NOTICE: Proposal to amend Metal Bulletin's 62% Fe iron ore fines price specification

July 12, 2018 / Peter Hannah

Metal Bulletin is proposing to refine its existing coverage of the 62% Fe iron ore fines market to provide a clearer reflection of the mid-grade market segment, as distinct from other grade brackets.Metal Bulletin is proposing to refine its existing 62% Fe iron ore fines price (MBIOI-62) to provide a clearer reflection of the mid-grade market, removing direct influence from data pertaining to othe...Read More

IRON ORE DAILY: Prices rise amid strengthening Chinese steel, futures markets

July 12, 2018 / July Zhang

Physical iron ore prices rose on Thursday July 12 amid gains in China's futures and steel markets.Metal Bulletin 62% Fe Iron Ore Index: $64.06 per tonne cfr Qingdao, up $0.72 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.73 per tonne cfr Qingdao, up $0.57 per tonneMetal Bulletin 58% Fe Premium Index: $52.08 per tonne cfr Qingdao, up $0.32 per tonneMetal Bulletin 65% Fe Iron Ore Ind...Read More

Steelmaking Raw Materials Trade Log, July 12, 2018

July 12, 2018 / Staff reporter

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 oreRio Tinto, tender, 100,000 tonnes of...Read More

COKING COAL DAILY: Sellers concede lower prices for sales

July 12, 2018 / Sophie Zhao

Seaborne coking coal prices took another tumble on Thursday July 12 after sellers made concessions to liquidate the cargoes they had in hand. Two shipments of premium mid-vol hard coking coal were traded during the day at $189 per tonne cfr China, according to various sources. One of them is already en route to China while the other will be loaded around mid-July, they said. "This price is around...Read More

China AM: Ferrous futures trend upward

July 12, 2018 / Sophie Zhao

China's ferrous futures, apart from the hot-rolled coil contract, ended morning trading higher on Thursday July 12 following a steady upward trend since the start of the session.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,956 yuan ($584) per tonne, up 18 yuan per tonne October hot-rolled coil: 4,004 yuan per tonne, unchanged Dalian Commodity Exchange Septemb...Read More

LME warehousing under threat after more firms exit unprofitable business

July 12, 2018 / Myurun Waran

Two companies have exited the London Metal Exchange warehousing business in the past month while others have significantly reduced their involvement, highlighting concerns over the growing unprofitability of the sector and the lack of on-exchange stock liquidity. 2018 has been particularly challenging due to a lack of available supply and rising operating costs, adding to stringent LME rules. ...Read More

Tech Talk for Thursday July 12th 2018

12/07/2018 / Staff reporter

U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 225,000 versus 232,000 last week. Actual was 214,00. Consensus for the June Consumer Price Index was an increase of 0.2% versus a gain of 0.2% in May. Actual w...Read More

LIVE FUTURES REPORT 12/07: LME nickel price climbs 2.2%; lead prices struggle

July 12, 2018 / Hassan Butt

Nickel prices on the London Metal Exchange jumped more than 2% during morning trading on Thursday July 12, accompanied by a slight uptick in copper prices, while the rest of the complex continues to waver against intensified US trade rhetoric. Pushing back over the $14,000 per tonne level, nickel's three-month price reached a high of $14,410 per tonne over the morning period, climbing 3.6% from We...Read More

PEOPLE MOVES: Martin Vydra joins Cobalt 27 as head of strategy

July 12, 2018 / Charlotte Radford

Martin Vydra has joined Cobalt 27 as head of strategy, effective immediately. Vydra retired from Sherritt International, where he worked for 31 years, in April this year. Most recently, he held the role of senior vice president, commercial and technologies, which included overseeing nickel and cobalt sales. Between 2012 and 2017, Vydra was...Read More

Chinese cobalt tetroxide, sulfate prices trend lower on sluggish demand; spot raw materials prices under pressure

July 12, 2018 / Susan Zou

Both Chinese cobalt tetroxide and sulfate spot prices edged down on Wednesday July 12 due to seasonal low consumption, with some refineries lowering their offer prices to secure sales despite high raw material costs. Metal Bulletin's China cobalt tetroxide spot price dropped to 390,000-420,000 yuan ($58,492-62,992) per tonne during the midweek session, down 2.4% from 400,000-430,000 yuan per...Read More

PEOPLE MOVES: UK's Sheffield Forgemasters to appoint BAE Systems' David Bond ceo

July 12, 2018 / Viral Shah

Independent UK steelmaker Sheffield Forgemasters will appoint David Bond chief executive officer on August 1, the company said on Thursday July 12.Bond joins Forgemasters on a secondment from his role as chief operating officer for defence contractor BAE Systems Australia, where he was responsible for the company's maritime, land and integrated systems businesses.Sheffield Forgemasters declined to...Read More

East Asian stainless steel prices stable amid trading lull

July 12, 2018 / Fiona Lam

East Asia's stainless steel import prices were relatively steady over the past week, with trading activity remaining low on soft regional demand, and offers staying unchanged despite declining nickel prices.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,210-2,300 per tonne cif East Asian ports for the week ended Wednesday July 11, narrowing up...Read More

Vietnam maintains most AD duties on stainless steel from 4 territories

July 12, 2018 / Fiona Lam

Vietnam is maintaining most of its anti-dumping duties on stainless cold-rolled steel from China, Taiwan, Indonesia and Malaysia until October 2019.Only one producer in Indonesia - PT Jindal Stainless Indonesia - will be subject to a lower tax of 6.64%, compared with 13.03% previously, following a review by Vietnam's Ministry of Industry & Trade, it said last week.Duties imposed on...Read More

China's stainless steel prices flat amid soft demand, supply drop

July 12, 2018 / Jessica Zong

Domestic stainless steel prices in China were flat over the past week amid soft demand, with sellers unwilling to lower their prices due to low inventory levels in the market. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,300-15,600 yuan ($2,293-2,338) per tonne including VAT for the week ended Wednesday July 11, the same as a...Read More

CHINA ALUMINIUM INGOT ADC 12 SNAPSHOT: Export price falls to one-year low; domestic price flat

July 12, 2018 / Hui Li

Key data from the Wednesday July 11 pricing session in Shanghai.Key drivers - Heightening trade tensions between China and the United States dampened Chinese buyers' interest in US-origin scrap, leading to an accumulation of scrap stocks at US ports.- Wide availability of scrap material in the US saw sellers reduce their prices to attract business and clear...Read More

HOTTER ON METALS: Grasberg deal a win-win for all parties

July 12, 2018 / Andrea Hotter

After years of negotiations, the future ownership of the Grasberg copper and gold mine has finally been determined, and it's a win-win outcome. Earlier on Thursday July 12, Rio Tinto and Freeport-McMoRan announced they had reached an agreement with the government of Indonesia that would eventually result in the latter's ownership of Grasberg increasing to 51%. Technically, the deal has been agreed...Read More

HOTTER ON METALS: Grasberg deal a win-win for all parties

July 12, 2018 / Andrea Hotter

After years of negotiations, the future ownership of the Grasberg copper and gold mine has finally been determined, and it's a win-win outcome. Earlier on Thursday July 12, Rio Tinto and Freeport-McMoRan announced they had reached an agreement with the government of Indonesia that would eventually result in the latter's ownership of Grasberg increasing to 51%. Technically, the deal has been agreed...Read More

HOTTER ON METALS: Grasberg deal a win-win for all parties

July 12, 2018 / Andrea Hotter

After years of negotiations, the future ownership of the Grasberg copper and gold mine has finally been determined, and it's a win-win outcome. Earlier on Thursday July 12, Rio Tinto and Freeport-McMoRan announced they had reached an agreement with the government of Indonesia that would eventually result in the latter's ownership of Grasberg increasing to 51%. Technically, the deal has been agreed...Read More

HOTTER ON METALS: Grasberg deal a win-win for all parties

July 12, 2018 / Andrea Hotter

After years of negotiations, the future ownership of the Grasberg copper and gold mine has finally been determined, and it's a win-win outcome. Earlier on Thursday July 12, Rio Tinto and Freeport-McMoRan announced they had reached an agreement with the government of Indonesia that would eventually result in the latter's ownership of Grasberg increasing to 51%. Technically, the deal has been agreed...Read More

HOTTER ON METALS: Grasberg deal a win-win for all parties

July 12, 2018 / Andrea Hotter

After years of negotiations, the future ownership of the Grasberg copper and gold mine has finally been determined, and it's a win-win outcome. Earlier on Thursday July 12, Rio Tinto and Freeport-McMoRan announced they had reached an agreement with the government of Indonesia that would eventually result in the latter's ownership of Grasberg increasing to 51%. Technically, the deal has been agreed...Read More

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