Iron ore prices remained rangebound on Tuesday June 26, with the sudden depreciation in the yuan's value against the US dollar causing some jitters in the market.Metal Bulletin 62% Fe Iron Ore Index: $66.62 per tonne cfr Qingdao, up $1.13 per tonneMetal Bulletin 58% Fe Premium Index: $52.77 per tonne cfr Qingdao, down $0.29 per tonneMetal Bulletin 65% Fe Iron Ore Index: $90.40 per tonne cfr Qingda...Read More
Comex copper prices traded at the lowest point since March 2018 on Tuesday June 26 with threats of a growing trade war weighing on the metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.40 cents or 0.1% to $2.9830 per lb. Earlier, the contract touched $2.9795, the lowest since March 26. "Copper has slipped since mid-June due to growin...Read More
Metal Bulletin is running a one-month consultation to seek feedback on whether to keep excluding certain origins in the assessment of its spot main Japanese ports (MJP) aluminium P1020 cif premium. At present, Metal Bulletin excludes aluminium P1020 from India, Iran, Egypt, Brazil and from London Metal Exchange warehouses (warrants) for its spot MJP premium assessment because brands from these cou...Read More
The copper cathode premium's ascent in the United States paused over the past week, with the market struggling with a major arbitrage and nightmarish freight conditions.American Metal Market's assessment of the US copper cathode premium was flat at 6.5-7 cents per lb delivered to the Midwest on Tuesday June 26, maintaining the highest level since mid-July 2014. Premiums have moved up by...Read More
The US Midwest aluminium premium has retreated to a level last seen in late March to early April, before the effect of sanctions against Russia set into the market.American Metal Market's assessment of the spot P1020 premium has dropped to 21.25-21.5 cents per lb on Tuesday June 26, the lowest level since the premium was assessed at 18.75-19.25 cents per lb on March 27 and where it remained u...Read More
GFG Alliance is seeking to obtain 5 million tons per year of steel capacity in the United States within the next two to three years, primarily via acquisitions and the restoration of dormant brownfield facilities, executive chairman Sanjeev Gupta said on Tuesday June 26. London-based GFG - parent of industrial conglomerate Liberty House Group, which would directly control the new steel capacity -&...Read More
JSW Steel (USA) plans to spend up to $1 billion on major investments in the United States, including $500 million to install a hot end at its Baytown, Texas, plate mill and $500 million in an acquisition and associated investments at the Acero Junction mill in Ohio, the company's top executive said.That spending comes as the company's focus, which initially targeted heavy plate and energy markets...Read More
Severstal, one of two the largest rebar suppliers to Russia's Central region, has cut its offer prices more dramatically than traders expected, Metal Bulletin has learned. Metal Bulletin's domestic prices for Russian 12mm A500C rebar plunged by 1,500 roubles ($24) per tonne on the low end of the range to a new assessment of 37,000-38,500 roubles ($588-612) per tonne cpt Moscow, including VAT,...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilIndia, export,...Read More
The CIS export rebar and wire rod market have not seen any significant price changes over the week ended Monday June 25 amid limited trading activity.Some participants from the Middle East and Africa returned to the market by the middle of last week after the Eid-al Fitr celebration, marking the end of the Islamic holy month of Ramadan, while some are returning to business only this week so purcha...Read More
China's domestic hot-rolled coil prices have fallen to their lowest in a month on Tuesday June 26 following successive days of decreases.DomesticEastern China (Shanghai): 4,230-4,240 yuan ($647-649) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 4,120-4,140 yuan per tonne, down 30 yuan per tonneHRC futures declined for a fourth day and ended at a month's low, which continued to put pre...Read More
The latest metal markets news and price moves for the start of the North American day on Tuesday June 26. Nickel prices on the London Metal Exchange were down by more than 3% at the close of trading on Monday June 25, while other base metals prices also slumped. Here's how LME prices looked at 12:36pm in London. Hassan...Read More
The European charge and high carbon ferro-chrome benchmark has settled at $1.38 per lb for the third quarter of 2018. The settlement represents a reduction of 4 cents compared with the second quarter of the year. Metal Bulletin reported on June 18 that the widely-anticipated price reduction would be smaller than early estimates, due to rising spot ferro-chrome prices in Europe and China. Metal Bul...Read More
Prices for vanadium pentoxide (V2O5) jumped in China and Europe in the week ended Friday June 22, buoyed by tight supply in the spot market, while US ferro-vanadium quotations stabilized though low availability persists there. China's vanadium export prices jump on domestic tightnessEuropean vanadium market moved higher owing to tight spot cargoes US ferro-vanadium market largely was stable,...Read More
Ferro-chrome prices are rising in China amid domestic smelters shutdowns and South African supply concerns. Domestic ferro-chrome production shutdowns push up alloy prices in China South African charge chrome prices jump Ore prices continue to edge higher No impact from China tightness on Japan, South Korea European prices hold at 2018 high Imported ferro-chrome prices kept rising in China on Frid...Read More
Turkish steel producers extended their silence in the deep-sea scrap markets on Tuesday June 6 amid ongoing uncertainty, given the general elections that took place in the country this past weekend.Most market participants believed that the mills in Turkey would remain out of the deep-sea markets until next week, at which point they are expected to start bookings for August deliveries."The mills a...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, 170,000 tonnes of 61% Fe Pilbara Blend fines, sold at $62.92 per tonne cfr China,...Read More
Iron ore prices remained rangebound on Tuesday June 26, with the sudden depreciation in the yuan's value against the US dollar causing some jitters in the market.Metal Bulletin 62% Fe Iron Ore Index: $66.62 per tonne cfr Qingdao, up $1.13 per tonneMetal Bulletin 58% Fe Premium Index: $52.77 per tonne cfr Qingdao, down $0.29 per tonneMetal Bulletin 65% Fe Iron Ore Index: $90.40 per tonne cfr Qingda...Read More
The seaborne coking coal market softened on Tuesday June 26, with some sellers heard to have lowered their offers.A cargo of premium mid-vol materials with a mid-July laycan was heard offered "below $200 per tonne cfr China," a mill source in northeast China said. "Sentiment is not too good now. We want to wait a...Read More
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