The widely-anticipated third-quarter European ferro-chrome benchmark price reduction is likely to be smaller than early estimates, market sources say, amid rising spot prices in China and Europe. The ferro-chrome benchmark is negotiated quarterly by a leading South African ferro-chrome producer and a major stainless steel mill. The second-quarter price settled at $1.42 per lb and the third-quarter...Read More
Nickel prices on the London Metal Exchange had fallen by 1.4% by the close of trading on Monday June 18, pressured by a strong dollar index and low trading volumes across the complex. Closing below $15,000 per tonne for the first time since May 29, nickel's three-month price has edged away from its steady approach towards $16,000 per tonne last week. Pressured by a surging dollar index, which reac...Read More
G?(C)camines is to invite all of its joint venture partners to discuss the terms and conditions of their mining contracts with it in an effort to restructure them, the chairman of the Congolese state-run company said. According to Albert Yuma, the goal of the various discussions will be to ensure reasonable levels of capitalization and more shared decision-making mechanisms. "Otherwise, we will no...Read More
Comex copper prices on Monday June 18 are on a three-day downturn to a two-week low amid escalating trade conflicts between the United States and China. Copper for July settlement on the Comex division of the New York Mercantile Exchange fell 3.65 cents or 1.2% to $3.1080 per lb. Earlier, the contract traded at $3.1065, the lowest since June 4. A rekindling of trade disputes between the US and Chi...Read More
Spot copper concentrate treatment and refining charges (TC/RCs) jumped up sharply in the first half of June after smelters overcame resistance from traders and miners to sell at higher levels. Metal Bulletin's copper concentrates TC/RC index shot up by $3.40 per tonne / 0.34 cents per lb on Friday June 15 to its highest level since January, when the index normalization method was adjusted to...Read More
The latest metals news and price moves to start the North American day on Monday June 18.Base metals on the London Metal Exchange were mostly higher during morning trading on Monday June 18 despite pressure from another surge in the dollar index.Here's how...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Monday June 18. Three-month base metals prices on the London Metal Exchange were broadly down during Asian morning trading on Monday, with a stronger dollar weighing on the complex. The dollar index rose considerably last Friday, surpassing its previous 2018 high with a jump to 95.14 - its hig...Read More
Nickel prices on the London Metal Exchange had fallen by 1.4% by the close of trading on Monday June 18, pressured by a strong dollar index and low trading volumes across the complex. Closing below $15,000 per tonne for the first time since May 29, nickel's three-month price has edged away from its steady approach towards $16,000 per tonne last week. Pressured by a surging dollar index, which reac...Read More
Comex copper prices on Monday June 18 are on a three-day downturn to a two-week low amid escalating trade conflicts between the United States and China. Copper for July settlement on the Comex division of the New York Mercantile Exchange fell 3.65 cents or 1.2% to $3.1080 per lb. Earlier, the contract traded at $3.1065, the lowest since June 4. A rekindling of trade disputes between the US and Chi...Read More
Trading activity in the seaborne coking coal market was muted on Monday June 18, with the top spot buyer China on holiday. On Monday, the Queensland Resources Council (QRC) said the industry was urging the state's rail freight operator Aurizon to, "return to normal maintenance practices and as a monopoly infrastructure provider, make its case to the regulatory and the industry [body]." Earlie...Read More
Trading activity in the seaborne coking coal market was muted on Monday June 18, with the top spot buyer China on holiday. On Monday, the Queensland Resources Council (QRC) said the industry was urging the state's rail freight operator Aurizon to, "return to normal maintenance practices and as a monopoly infrastructure provider, make its case to the regulatory and the industry [body]." Earlie...Read More
Base metals on the London Metal Exchange were mostly higher during morning trading on Monday June 18, despite pressure from another surge in the US dollar index. Lead's three-month price has kept firm above $2,400 per tonne, trading 1% higher since Friday's close,. The curtailment of treatment charges (TCs) in China - at records lows of $15-25 per tonne - as well as ongoing supply disruptions...Read More
The latest metals news and price moves to start the North American day on Monday June 18.Base metals on the London Metal Exchange were mostly higher during morning trading on Monday June 18 despite pressure from another surge in the dollar index.Here's how...Read More
South32 will acquire the remaining 83% stake in junior zinc miner Arizona Mining for $1.3 billion in cash, the company said on Monday June 18. At an offer price of C$6.20 ($4.70) per share, South32 will pay a 50% premium over the Arizona Mining closing price on Friday June 15, it said. Arizona mining is the owner of the greenfield Hermosa project, which includes a zinc-lead-silver sulfide deposit...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Crude steel production in Argentina grew by 11.2% year on year in May, according to figures released by national steel association Acero Argentino on Monday June 18. Production totaled 438,100 tonnes versus 394,100 tonnes in the same period last year. But May's crude steel output declined by 5.4% sequentially from 463,000 tonnes.The automotive...Read More
Buying activity in the CIS export billet market was muted on Monday June 18 with most customers assessing the situation after the long weekend in the Middle East and parts of Africa marked the end of the Islamic holy month of Ramadan.Offers from CIS mills were limited too. Several Ukraine-based mills offered billet in a range of $520-525 per tonne fob Black Sea, while other suppliers are expected...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. ...Read More
Coated coil prices in Turkey increased this week on improved demand and increasing production costs, sources told Metal Bulletin on Monday June 18.Domestic prices One northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $755-760 per tonne ex-works, up from $745-750 per tonne ex-works last week. Another northern producer was offering the product at $800 per tonne ex-wor...Read More
Flat steel prices in Turkey's domestic and import markets were mixed this week, with demand improving in the export market and pushing prices up, sources told Metal Bulletin on Monday June 18.Domestic producers are accepting orders for August production, while the export markets experienced good demand.Domestic prices Hot-rolled coil (HRC) producers in Turkey sold material at $600-610 per tonne ex...Read More