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
Imports of various carbon and stainless steel products from China pose a "real risk" of harm to Taiwan's domestic steel industry, according to a preliminary ruling by the territory's Ministry of Economic Affairs.Although Chinese steel imports had not materially harmed Taiwan's domestic industry, they still present a "threat" of material injury, the ministry's International Trade Commission said on...Read More
Import prices for rebar in Singapore were up slightly over the past week on continued spot demand in the market.There continued to be some demand, with major fabricators in the spot market enquiring about spot cargoes."Singapore buyers continue to bid at $540-550 per tonne cfr Singapore. However, they are not expected to budge at anything above this price this week," an industry source in Singapor...Read More
Russia and India-origin re-rolling-grade hot-rolled coil are dominating the Vietnamese import market, with China-origin HRC being priced out over the past few weeks.There were at least two deals done in recent days for India-origin back-to-back mill cargoes at $610-615 per tonne cfr Vietnam, including a 25,000-tonne cargo from a major Indian producer. Indian mills were offering cargoes at $61...Read More
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
Turkish scrap import prices were flat on Monday June 18 due to a silent market following Turkey's public holiday on Friday and before the election outcome at the end of the week.Some buyers could be waiting until the election outcome to get a better picture of current market conditions, Metal Bulletin was toldThe Turkish lira has continued to depreciate against the US dollar in...Read More
German steelmakers have settled their monthly scrap contracts for June, with a slight decrease up to ?,?5 ($6) per tonne, sources told Metal Bulletin.Metal Bulletin's June monthly price assessment for domestic grade-E3 scrap in Germany was ?,?280-295 ($325-342) per tonne delivered on June 18, compared to ?,?280-300 per tonne delivered in May."Supply and...Read More
Taiwan's ferrous scrap imports increased by 36% on the year in April, according to the territory's customs agency.Taiwan imported 290,009 tonnes of ferrous scrap during the month, 76,452 tonnes higher than the 213,557 tonnes it took in a year earlier, data from the Taiwanese Customs Administration showed.March's...Read More
Three-month base metals prices on the London Metal Exchange were broadly down during Asian morning trading on Monday June 18, with a stronger dollar weighing on the complex.The copper price at $6,994 per tonne as at 4.16am London time, is down $26 per tonne from last Friday's close, with around 560 lots traded on Select so far.Elsewhere in the complex, nickel also gave back some of the gains it ac...Read More
Chinese silicon export prices continued to weaken over the past week amid slack demand from downstream producers, while the European market was once again unchanged due to a lack of significant trading activity.The Chinese silicon export market weakened further in the week ended Friday June 15, with prices continuing to fall amid limited buying interest, particularly from secondary aluminium alloy...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade. Futures are responding to growing trade war concerns.Blackrock (BLK $524.52) is expected to open higher after Citigroup upgraded the stock to Buy from Neutral.Zillow dropped $2.57 to $63.00 after Goldman Sachs downgraded the stock to Neutral.Valeant dropped $1.29 to $25.57 after the FDA...Read More
The Brazil has imposed anti-dumping duties in imports of welded austenitic stainless steel pipes imported from Malaysia, Thailand and Vietnam.Duties will vary from $367.56 per tonne to $888.27 per tonne, according to an announcement by the country's Ministry of Industry and Foreign Trade and Services published on Thursday June 14.Welded stainless pipes exported to Brazil by Malaysia's Pa...Read More