Nickel 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. Nickel traded in an intraday range of $680 per tonne, eventually closing 3.6% by the end of trading below $15,000 per tonne.A sharp rise in the dollar index, which remains high, piled pressure on the base metals last week while added uncertainty about...Read More
The latest metal markets news and price moves to start the North American day on Monday June 25.Zinc prices on the London Metal Exchange fell 1.2% during morning trading on Monday June 25, hindered by tight spreads, a broadly strong dollar and escalating trade tensions between China and the United States.Here is how the LME base metals complex looked at 12:21pm London time:For...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Monday June 25.Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Monday, with the main movers being zinc and nickel, albeit in opposite directions, while the rest of the metals traded sideways.Nickel prices led on the upside with the metal finding s...Read More
Ferro-chrome benchmark price negotiations for the third quarter of 2018 are revealing a fresh spin on some familiar topics and a more detailed look at regional price differences across the supply chain. Metal Bulletin reported last week that the widely-expected reduction in the third-quarter settlement is likely to be smaller than previously anticipated, due to strengthening ferro-chrome markets,...Read More
Nickel 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. Nickel traded in an intraday range of $680 per tonne, eventually closing 3.6% by the end of trading below $15,000 per tonne.A sharp rise in the dollar index, which remains high, piled pressure on the base metals last week while added uncertainty about...Read More
The London Metal Exchange will introduce three regional hot-rolled coil contracts at the start of 2019, coinciding with a change in attitude towards risk management tools for the ferrous sector, according to the exchange's business development manager. The contracts are aimed at the domestic markets in the United States and in Europe as well as the Chinese export market, said Marko Kusigerski...Read More
Comex copper prices started another week in negative territory with global trade volatility preventing a recovery. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 1.40 cents or 0.5% to $3.0130 per lb. Volatile global trading conditions continue to dampen investment after the United States' most recent announcement of a 20% import tariff on EU car im...Read More
The London Metal Exchange will introduce three regional hot-rolled coil contracts at the start of 2019, coinciding with a change in attitude towards risk management tools for the ferrous sector, according to the exchange's business development manager. The contracts are aimed at the domestic markets in the United States and in Europe as well as the Chinese export market, said Marko Kusigerski...Read More
Turkish deep-sea scrap markets remained quiet on Monday June 25 due to the uncertainty in the market following the general elections in Turkey.Preliminary results from Turkey's presidential election on Sunday June 24 gave Recep Tayyip Erdogan a commanding lead, while his ruling Justice and Development Party (AKP) failed to win majority of the 600 parliamentary seats. However, the 'People's Al...Read More
Eurasian Resources Group (ERG) plans to boost output of alumina powders to meet growing demand in the 3D printing sector.The natural resources group is planning a pilot scheme for the manufacturing of 3D-printed components after completing a study into the production of alumina powders using alumina mined at its operations in Kazakhstan."At the moment only about 2,000 tonnes of powders for 3D...Read More
Comex copper prices started another week in negative territory with global trade volatility preventing a recovery. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 1.40 cents or 0.5% to $3.0130 per lb. Volatile global trading conditions continue to dampen investment after the United States' most recent announcement of a 20% import tariff on EU car im...Read More
The latest metal markets news and price moves to start the North American day on Monday June 25.Zinc prices on the London Metal Exchange fell 1.2% during morning trading on Monday June 25, hindered by tight spreads, a broadly strong dollar and escalating trade tensions between China and the United States.Here is how the LME base metals complex looked at 12:21pm London time:For...Read More
Emirates Global Aluminium (EGA) received its first bauxite shipment from Compagnie des Bauxites de Guin?(C)e (CBG) on Sunday June 24 in preparation for the commissioning of its Al Taweelah alumina refinery in Abu Dhabi. Al Taweelah will produce its first alumina in the first half of 2019. At full capacity, the refinery will receive 5 million tonnes per year of bauxite from CBG. EGA has the capacit...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Monday June 25*Copper -$105.31 (-689.75 yuan) Aluminium -$516.31 (-3,381.81 yuan) Zinc -$3.92 (-25.67 yuan) Nickel -$271.77 (-1,780.08 yuan) *Metal Bulletin calculates the physical arbitrage for import into China...Read More
Coated coil prices in Turkey continued to rise this week due to increasing hot-rolled coil prices and the expectation of less uncertainty in the local market after elections on June 24.One northern producer in Turkey increased its coated coil prices by $10-15 per tonne effective from Monday, June 25. The producer is now offering 0.50mm hot-dipped galvanized coil (HDG) at $775 per tonne ex-wor...Read More
CIS export billet prices have not seen any drastic changes over the week ending Monday June 25, with buying sluggish over the weekend while the market waits for buying activity to recover.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 Islamic holy month of Ramadan, while some are returning to...Read More
Global crude steel production rose 6.6% year on year in May 2018, partly due to an increase in China, according to statistics published by the World Steel Association (Worldsteel) on Monday June 25. World crude steel output was 154.86 million tonnes in May this year, compared with 145.24 million tonnes in the corresponding month of 2017. China, the world's largest steelmaking country, increased it...Read More
Liberty House aims to make "more than $5 billion in investments over the next few years" across the United States and Canada following the restart of its rod mill in Georgetown, South Carolina, on Monday June 25."Of this [$5 billion] total, $1 billion is expected to be invested during the coming year to acquire and develop steel, aluminium, engineering, mining, energy generation, and financial ser...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: HDG, PPGIHot-dipped galvanized coil Turkey, domestic, hot-dipped galvanized coil (0.50mm), offered...Read More
The ascent in ammonium paratungstate (APT) prices paused last week after a few consecutive weeks of increases. Chinese, European APT prices stabilize Low availability continues to support APT prices but fewer inquiries seen European ferro-tungsten edges down amid weak demand Chinese ammonium paratungstate (APT) export market slowed down last week amid fewer inquiries from overseas and...Read More