Iron ore lump premiums spiked on Wednesday June 13 amid expectations of limits being imposed on sintering activity in parts of China to cut pollution.Metal Bulletin 62% Fe Iron Ore Index: $67.02 per tonne cfr Qingdao, down by $0.21 per tonneMetal Bulletin 58% Fe Premium Index: $54.19 per tonne cfr Qingdao, down by $0.10 per tonneMetal Bulletin 65% Fe Iron Ore Index: $88.50 per tonne cfr Qingdao, u...Read More
The seaborne coking coal market continued to pick up strength on Wednesday June 13, even with Chinese end-users suggesting that the upside for prices was limited. Buyers appear to be warming up to the idea of paying $200 per tonne fob Australia for premium hard coking coal, with a bid made on a trading platform at that price for a cargo of such materials during the day. An offer in the same segmen...Read More
Base metals on the London Metal Exchange were mostly lower during morning trading on Wednesday June 13, with aluminium and tin dropping over 1% and copper, zinc and nickel edging lower, while lead made slight gains. Copper's three-month contract price dropped 0.38% to $7,194.50 per tonne this morning. As concerns over supply disruption ease, the red metal prices have been subdued since the st...Read More
Prices for rebar produced and delivered in Southern Europe have widened downward by a further ?,?5 per tonne over the past week, with Italian mills lowering their offers, sources told Metal Bulletin on Wednesday June 13.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe was ?,?475-500 ($559-588) per tonne delivered on Wednesday, down from ?,?480-500 per tonne on June 6....Read More
The export price for steel billet from Iran picked up in the seven days that ended on Wednesday June 13, with new bookings reported at higher prices.Metal Bulletin's weekly price assessment for Iranian export billet was $505 per tonne fob on June 13, up by $5-10 per tonne week-on-week.Several cargoes of Iran-origin July-rolling billet were reported sold to Egypt and Southeast Asia at $505 per tonn...Read More
Comex copper prices recovered during trading on Wednesday June 13, with the dollar softening ahead of the Federal Reserve's decision whether to raise interest rates.Copper for July settlement on the Comex division of the New York Mercantile Exchange rebounded by 0.65 cents or 0.2% to $3.2560 per lb. Meanwhile, Glencore-owned copper producer Katanga Mining has settled its legal dispute in the...Read More
The latest metal news and price moves to start the North American day on June 13.Base metals on the London Metal Exchange were mostly lower during morning trading on Wednesday June 13, with aluminium and tin dropping over 1% and copper, zinc and nickel edging lower, while lead made slight gains."Copper prices fell as concerns eased over disruption risks at BHP's Escondida...Read More
Base metals on the London Metal Exchange were mostly lower during morning trading on Wednesday June 13, with aluminium and tin dropping over 1% and copper, zinc and nickel edging lower, while lead made slight gains. Copper's three-month contract price dropped 0.38% to $7,194.50 per tonne this morning. As concerns over supply disruption ease, the red metal prices have been subdued since the st...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Wednesday June 13, the exception being lead which was up by 0.2%. The rest were weaker with copper, aluminium, nickel and zinc off between 0.4% and 0.6%, with copper at $7,176 per tonne, while tin was down by 1.2%. Volume has been average with 10,155 lots traded as at 9.38 am London time. Th...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday June 13*Copper -$169.78 (-1090.04 yuan) Aluminium -$528.65 (-3394.16yuan) Zinc -$43.38 (-278.51 yuan) Nickel -$190.33 (-1222.02 yuan) * Metal Bulletin calculates the physical...Read More
Premiums for 99.97% lead ingots hit a 2018 high in India due to continued spot market tightness after Iran's currency issue, while European and Southeast Asian lead premiums were unchanged in the week to Tuesday June 12, covered by long-term contracts. Premiums for 'three-nines' lead ingots hits record high in India after Iran restricted exports London Metal Exchange zinc cash/three-month price ba...Read More
The Shanghai copper cathode market remained depressed over the past week amid widening import losses and a backwardation in nearby London Metal Exchange spreads. Meanwhile, premiums edged up in Rotterdam and Italy amid better demand and the US premium held at a 22-month high. Premiums in Shanghai weaken further on sparse trading activity, widening import lossesCopper premiums edge up in Rotterdam...Read More
US mills have filed duty-circumvention cases versus Vietnamese cold-rolled and coated flat-rolled steel made from South Korean substrate.The cases mirror petitions filed successfully against Vietnamese imports of the same products made from Chinese substrate.The petitions targeting Vietnamese cold-rolled and coated steel made from Chinese steel were launched in November 2016 but not decided until...Read More
Domestic prices for steel beams in Europe moved down this week as market participants disagreed on the trading outlook, sources told Metal Bulletin on Wednesday June 13.Metal Bulletin's weekly price assessment for domestic S235-grade, 200x200mm category-2 H-beam in Northern Europe dipped by ?,?10 per tonne to ?,?580-610 ($683-718) per tonne delivered on June 16, from ?,?590-620 per tonne deli...Read More
The following Metal Bulletin minor metals prices changed on Wednesday June 13:Minor metals Antimony MB free market regulus, $/tonne: $8,150-8,400 per tonne from $8,200-8,450 Antimony MMTA standard grade II, $/tonne: $8,100-8,350 per tonne from $8,150-8,400 Bismuth MB free market, $/lb: $4.20-4.75 per lb from $4.50-5.05 Cadmium MB free market min...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday June 13:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.30-11.40 per lb from $11.30-11.50 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg...Read More
Ferrous scrap export prices from the two US coasts diverged slightly this week, as East Coast 80:20 heavy melt prices bounced up by $6 per tonne, while No 1 heavy melt from the West Coast dipped by some $3 per tonne, fob export.Still, cfr prices to Turkey and South Korea - the destinations for two recent cargo sales - are largely stable. One East Coast exporter sold a 42,000-tonne c...Read More
Export volumes of Brazilian pig iron dropped by 48.27% year-on-year in May 2018, with reduced shipments to both the United States and The Netherlands.Shipments totalled 92,101 tonnes in the month, compared with 178,026 tonnes in May 2017, according to figures released in the first week of June by the country's foreign trade ministry, MDIC.Export volumes in May were also lower than April's level of...Read More
The latest bids, offers and deals in the global markets for ferrous scrap products. Latest transactions: HMS, shredded, bonusTurkey, import, 15,000 tonnes of HMS 1&2 (80:20), traded...Read More
Turkish deep-sea scrap import prices increased on Wednesday June 13, with mills resuming purchases from the Baltic Sea region.A steel mill in the Marmara region booked a 40,000-tonne Baltic Sea cargo, comprising HMS 1&2 (80:20) at $344.50 per tonne and bonus scrap at $354.50 per tonne cfr late on Tuesday June 12. However, the cargo breakdown was not clear at the time of publication.On Wednesd...Read More