Prices for rebar produced and delivered in Northern Europe widened upward by ?,?15 per tonne over the past week after mills began to push through price rises for July, sources told Metal Bulletin on Wednesday July 4. Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was ?,?535-560 ($623-652) per tonne delivered on Wednesday, up from ?,?535-545 per tonne delivered...Read More
Turkey exported 484,858 tonnes of flat steel products in May 2018, according to figures released by the Turkish Statistical Institute (TUIK) on Monday July 2.This volume was up by 8.36% from the 447,462 tonnes exported in May 2017, the institute said.The reason for the increase being small was that Turkey had tripled its export volumes year-on-year in May 2017, so the country was maintaining its s...Read More
Key data from the Wednesday July 4 pricing session in Europe. Key drivers - Ferro-titanium prices stable despite illiquid trading in the first week of the seasonal slowdown in the northern hemisphere's summer, with most sources putting $5 per kg delivered duty-paid as a midpoint in the current price range. - One supplier was reaching for...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday July 4:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $10.55-10.65 per lb from $10.60-10.70 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $26.40-26.60 per...Read More
Pellet production volumes at Ukraine-focused iron ore producer Ferrexpo fell by 1.24% year-on-year to 5.10 million tonnes in the first half of 2018, because of planned outages for equipment maintenance.The company refurbished one of its four pelletizing lines over a 65-day shutdown period during the second quarter of the year.Among the total of 5.10 million tonnes of pellet produced in January-Jun...Read More
By Peter KennedyDrilling operations at Nickel Creek Platinum's 100%-owned Nickel Shaw Project in the Yukon Territory. Source: Nickel Creek Platinum Ltd.Nickel Creek Platinum Ltd. [NCP-TSX; NCPCF-OTCQX], a company previously known as Wellgreen Platinum, is hitching itself onto the electric vehicle revolution in a bid to improve the economic viability of its Yukon project, attract more investors int...Read More
Brazilian products continued to command a big premium over Australian materials in the seaborne iron ore market on Wednesday July 4.Metal Bulletin 62% Fe Iron Ore Index: $64.20 per tonne cfr Qingdao, down $0.35 per tonne Metal Bulletin 62% Fe Pilbara Blend fines Index: $62.97 per tonne cfr Qingdao, down $0.49 per tonneMetal Bulletin 58% Fe Premium Index: $51.66 per tonne cfr Qingdao, down $0.29 pe...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 transaction: iron oreIron oreRio Tinto, tender, 210,000 tonnes of 61% Fe Pilbara Blend fines, sold at $61.95 per tonne cfr China, laycan July 21-30.Vale, Global...Read More
The seaborne coking coal spot market took a breather on Wednesday July 4 with buyers withdrawing to the sidelines in anticipation of prices to drop. "Coking coal prices are propped up due to speculation and rumors fueling supply concerns but the reason feels weak and unconvincing," a North Asian end-user source said. A South Asian end-user source concurred, saying "the market is definitely going s...Read More
China's ferrous futures picked up across the board during morning trading on Wednesday July 4.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,812 yuan ($572) per tonne, up 47 yuan per tonne October hot-rolled coil: 3,917 yuan per tonne, up 51 yuan per tonne Dalian Commodity Exchange September iron ore: 464.50 yuan per tonne, up 3.50 yuan per tonne September coki...Read More
Iron ore export volumes from Brazil increased by 4.51% year on year in June, along with higher fob prices. The country exported 35.31 million tonnes of iron ore last month, compared with 33.79 million tonnes in June 2017 according to figures released by the country's foreign trade ministry, MDIC, on Tuesday July 3. Over the same...Read More
Technical action by S&P 500 stocks to 10:00: Quietly bullish. Three utility stocks broke out. None broke down. TSX Gold Index and its related ETF $XGD.CA moved above 193.52 and 194.28 extending an intermediate uptrend. Barrick Gold $ABX.CA $ABX, a TSX 60 stock moved above $17.68 Cdn. extending an intermediate uptrend. Wheaton Precious Metals $WPM $WPM.CA, a TSX 60 stock moved above $22.34 and...Read More
Worldwide Warehouse Solutions (WWS) has filed for bankruptcy under Chapter 7 at a court in the United States and has closed all its operations, Metal Bulletin learnt on Wednesday July 4.The claim was filed by WWS, with legal representation from Bryan Cave Leighton Paisner, on June 28 at the Missouri Eastern Bankruptcy Court in St Louis, according to the court filing. The case lists liabilities of...Read More
China's domestic prices for hot-rolled coil bounced back on Wednesday July 4 after trading activity increased, though export prices softened amid a weakening yuan.DomesticEastern China (Shanghai): 4,220-4,250 yuan ($633-638) per tonne, up 10-20 yuan per tonneNorthern China (Tianjin): 4,120-4,140 yuan per tonne, narrowing upward by 10 yuan per tonneDomestic prices posted some recovery with buyers s...Read More
China's domestic rebar prices experienced a mild recovery on Wednesday July 4 on higher sales following gains in the futures market. Domestic Eastern China (Shanghai): 3,950-4,000 yuan ($593-600) per tonne, widened upward by 10 yuan per tonne Northern China (Beijing): 3,880-3,920 yuan per tonne, up 20 yuan per tonne Rebar futures surged during the first hour of trading, which boosted buying intere...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday July 4*Copper -$86.07 (-569.63 yuan)Aluminium -$478.65 (-3,167.72 yuan) Zinc $30.42 (201.30 yuan) Nickel -$119.02 (-787.66 yuan) *Metal Bulletin calculates the physical arbitrage for import into China...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Wednesday July 4:Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 50,500-51,500 yuan per tonne from 50,800-51,500 yuan Cobalt MB free market high grade, $/lb: $39.00-40.85 per lb from $39.70-41.00 Cobalt MB free...Read More
All MB non-ferrous UK scrap and foundry ingot prices were unchanged on Wednesday July 4.NB: prices expressed delivered consumer...Read More
GENEVA (Reuters) - Major U.S. trading partners including the European Union, China and Japan voiced deep concern at the World Trade Organization (WTO) on Tuesday about possible U.S. measures imposing additional duties on imported autos and parts.Japan, which along with Russia had initiated the discussion at the WTO Council on Trade in Goods, warned that such measures could trigger a spiral of coun...Read More