Key data from the Wednesday June 13 pricing session in Europe.Key drivers - Ferro-titanium prices have edged lower but steady demand should persist in the near term and keep prices in, or close to, the current range, sources said. - A tender for three truckloads of ferro-titanium from Swedish steelmaker SSAB has been settled at well below $5 per kg, according to...Read More
Tharisa has acquired a 26.8% stake in Karo Mining Holding, a platinum group metals (PGM) and base metals project in Zimbabwe, for $4.5 million, the South African chrome miner has announced. The 23,903-hectare project on the Great Dyke of Zimbabwe contains an estimated PGM resource of about 96 million oz.The deal marks Tharisa's second acquisition in Zimbabwe's mining sector in less than a month, f...Read More
Metalloinvest, a major global supplier of iron ore, pig iron and hot-briquetted iron (HBI), announced a 28.1% year-on-year rise in its earnings for the first-quarter of 2018 in a financial report published on Thursday June 14.Earnings before interest, taxes, depreciation and amortization (Ebitda) in January-March reached $675 million, up from $527 million in the first quarter of 2017, mainly thank...Read More
Additional pollution-trimming measures in China lent support to growing demand for iron ore lump and pellets on Thursday June 14.Metal Bulletin 62% Fe Iron Ore Index: $68.49 per tonne cfr Qingdao, up by $1.47 per tonneMetal Bulletin 58% Fe Premium Index: $54.19 per tonne cfr Qingdao, unchangedMetal Bulletin 65% Fe Iron Ore Index: $89 per tonne cfr Qingdao, up by $0.50 per tonneMetal Bulletin 62% F...Read More
The seaborne coking coal market was quiet on Thursday June 14, as Chinese end users turned away from premium hard coking coal offers. A trader source said the market remained "cautiously optimistic", although there were ample cargoes in the hands of traders. "Seaborne prices remain much lower than domestic [values] and we may see prices maintain their current levels, but a significant rise would b...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 oreVale, Beijing...Read More
Import prices for containerized heavy melting scrap (HMS) in Taiwan rebounded this week after suppliers withdrew offers, causing some supply tightness in the spot market.Metal Bulletin's assessment of import prices for United States-origin HMS 1&2 (80:20) sold into Taiwan was $330-332 per tonne cfr for the week ended Thursday June 14, up from $325 per tonne from a week earlier.US-origin scrap was...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Index futures moved higher after the European Central Bank announced the tapering of its Quantitative Easing program beginning in September. Its overnight lending rate was unchangedIndex futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Week...Read More
China's domestic hot-rolled coil prices halted their recent rises on Thursday June 14 amid weaker demand. Domestic Eastern China (Shanghai): 4,300-4,330 yuan ($671-676) per tonne, widened down 10 yuan per tonne Northern China (Tianjin): 4,240-4,260 yuan per tonne, unchanged HRC prices were flat or down slightly in the domestic Chinese market today despite a continued rally in the futures...Read More
Key data from the Wednesday June 13 pricing session in Shanghai.Cobalt metal - China's domestic cobalt metal price marginally dipped in the mid-week pricing session to 575,000-600,000 yuan per tonne ($35.13-36.65 per lb China VAT-free), weighed down by persistent sluggish demand. - Spot sales and quotations for Jinchuan cobalt stood around 575,000-580,000 yuan per tonne, while those for imported c...Read More
Prices for stainless steel in East Asia fell slightly during the past week after their previous two-week surge due to lower offers from China and mild losses in the nickel market.Metal Bulletin's price assessment for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,250-2,330 per tonne cif East Asian ports for the week ended Wednesday June 13, down $10-20 per tonne from a week earlier.Me...Read More
Key data from the Wednesday June 13 pricing session in Shanghai.Please click on the above tables to view more in-depth pricing data about these assessments in Metal Bulletin's price book.Key drivers - US exporters eagerly sold accumulated scrap into China after the temporary shutdown of...Read More
China's crude steel and finished steel output both rose year on year in May, helped by higher prices and improved producer margins.Steelmakers in China produced 81.13 million tonnes of crude steel last month, up 8.9% from a year ago, the country's National Bureau of Statistics (NBS) said on Thursday June 14. The country's finished steel output also...Read More
China's crude steel and finished steel output both rose year on year in May, helped by higher prices and improved producer margins.Steelmakers in China produced 81.13 million tonnes of crude steel last month, up 8.9% from a year ago, the country's National Bureau of Statistics (NBS) said on Thursday June 14. The country's finished steel output also...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
Gold futures finished near the highs of the day, and as of 4:00 PM Eastern standard time is trading up $4.50 at $1,303.90. Gold had been trading fractionally higher at just before the conclusion of this month’s FOMC meeting. However immediately following the meeting, the largely anticipated 25 basis point rate hike fell under pressure and gold briefly traded below $1,300 per ounce.This lower...Read More
(Kitco News) - The Bank of Montreal (BMO) has raised their long-term equilibrium price forecast for copper to $3.25/lb, in line with current prices, citing higher demand growth for copper from the emerging prominence of renewable energy. "Changing long-run commodity prices should be a rare event, and should only take place where there is a marked shift in the future outlook. In our view, th...Read More
(Kitco News) - Gold prices are slightly lower in afternoon U.S. trading Wednesday, and lost mild earlier gains in the wake of today’s FOMC meeting statement that saw the Fed U.S. raise interest rates slightly. August Comex gold futures were last down $0.30 an ounce at $1,299.90. July Comex silver was last up $0.009 at $16.90 an ounce.The Federal Reserve’s Open Market Committee (FOMC) m...Read More
LME Stock Today – Today LME Inventory Report : 13/06/2018 UpdateALUMINIUM -8775 MT,COPPER -2275 MT,NICKEL -972 MT,LEAD -125 MT,TIN NA ANDZINC -1750 MT Read More
(Kitco News) - Gold prices are holding steady just below the psychological barrier of $1,300 an ounce after the Federal Reserve suggested that it will hike interest rates more aggressively this year and the next as the U.S. economy continues to grow.Following its two-day monetary policy meeting, the Federal Reserve raised interest rates by 25 basis points Wednesday, in line with expectations. Ahea...Read More