The latest news and price moves to start the Asian day on Tuesday June 12.Base metals prices on the London Metal Exchange closed mostly lower at the end of trading on Monday June 11, with copper, nickel and tin prices recording losses while lead and aluminium made marginal gains. Read more in our live futures report.Here are how prices looked at the close of trading:Following a turbulent first hal...Read More
Producing and then trading metal used to be the purview of just a few, with the supply chain more typically separated into silos and companies making occasional forays into different areas. But as the line between producer and trader has become increasingly blurred, the differentiator between companies is becoming the services they provide. As Christophe Allain, group portfolio director for non-fe...Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 12.Please click...Read More
Base metals on the London Metal Exchange were mostly a little higher during morning trading on Tuesday June 12, with aluminium, zinc and lead prices ticking higher while copper and tin prices drifted lower.Copper's three-month price slipped more than 0.4% lower over the morning, dipping below $7,200 per tonne - it had reached five-year highs at the end of last week. Unresolved labo...Read More
Vanadium prices continued their ascent in the European and US markets amid tightened supply and an uptick in activity, while Chinese vanadium prices began to recover on low availability of material. Fob China vanadium prices rebound on tightening availabilityEuropean vanadium market strengthens furtherUS ferro-vanadium prices jump; market sees more inquiries Metal Bulletin's price quotation...Read More
South African charge chrome imports to China are fetching higher prices due to production cuts at domestic Chinese smelters. Alloy prices jump in ChinaOre prices continue risingAlloy prices edge higher in Japan, weaken slightly in South KoreaAlloy prices dip in Europe, United States Charge chrome import prices jumped in China on Friday June 8 amid strong demand and tightening domestic ferro-chrome...Read More
Vanadium prices continued their ascent in the European and US markets amid tightened supply and an uptick in activity, while Chinese vanadium prices began to recover on low availability of material. Fob China vanadium prices rebound on tightening availabilityEuropean vanadium market strengthens furtherUS ferro-vanadium prices jump; market sees more inquiries Metal Bulletin's price quotation...Read More
South African charge chrome imports to China are fetching higher prices due to production cuts at domestic Chinese smelters. Alloy prices jump in ChinaOre prices continue risingAlloy prices edge higher in Japan, weaken slightly in South KoreaAlloy prices dip in Europe, United States Charge chrome import prices jumped in China on Friday June 8 amid strong demand and tightening domestic ferro-chrome...Read More
Copper prices on the Shanghai Futures Exchange weakened during Asian morning trading on Tuesday June 12, with a firmer dollar and easing supply concerns weighing on investors' appetite for the red metal.The most-traded August copper contract price on the SHFE dropped to 53,830 yuan ($8,407) per tonne as at 10.28am Shanghai time, down 330 yuan per tonne from Monday's close. Falling 0.6% so far in t...Read More
Vale has signed separate agreements with Wheaton Precious Metals Corp and Cobalt 27 Capital Corp to sell an aggregate total of 75% of the cobalt produced at Voisey's Bay, enabling it to proceed with an expansion of the mine. From January 1, 2021, Wheaton and Cobalt 27 will be entitled to receive finished cobalt equivalent to 42.4% and 32.6% respectively of the future cobalt production from its Voi...Read More
Turkish steel mills resumed their deep-sea transactions for July deliveries on Tuesday June 12, following a downturn in prices.The mills in the country were quiet at the beginning of the week due to increasing offers, and paused their deep-sea bookings in expectation of lower prices, according to market sources.But a steel producer in the Iskenderun region came to the market on...Read More
Comex copper prices softened in Tuesday morning trading in the United States, with supply issues easing after BHP and unions reached a new labor agreement.Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.85 cents or 0.3% to $3.2485 per lb. "Metals ended mixed yesterday, with copper leading the way down as potential labor concerns out of Chile...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were stable this week because of the expected start of the Islamic Eid al-Fitr holiday, sources told Metal Bulletin on Tuesday June 12.Buyers preferred to postpone booking activity during the holy month of Ramadan, which started in mid-May. The holiday, marking the end of the holy month, will start toward the end of this week.Wo...Read More
China's major steel mills lowered their daily crude steel output rates in late May after prices experienced a sharp drop during the period. Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.95 million tonnes per day during the last 11 days of May, down 2.5% from 2 million tpd in the second 10 days of...Read More
China's ferrous futures remained mixed during morning trading on Tuesday June 12, this time with coking coal and coke contracts recording solid increases amid price gains in the physical seaborne market.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,819 yuan ($596) per tonne, up 5 yuan per tonne October hot-rolled coil: 3,934 yuan per tonne, down 9 yuan per ton...Read More
Brazil's long steel import volumes fell by 37.2% year-on-year in May 2018, with reduced shipments from China and South Korea, the country's two biggest sources of such products.Imports of non-alloyed long steel products amounted to 12,355 tonnes last month, compared with 19,662 tonnes a year earlier, according to figures released by Brazil's foreign trade ministry, MDIC, last week.Imports of long...Read More
Prices for rebar and steel billet were stable and demand was low in the United Arab Emirates and Saudi Arabia this week because of the imminent Eid al-Fitr holiday, sources told Metal Bulletin on Tuesday June 12.The Eid holiday will mark the end of the Islamic holy month of Ramadan, and will start toward the end of this week.Domestic rebarMajor rebar producers in the UAE announced new rebar prices...Read More
Turkish steel mills resumed their deep-sea transactions for July deliveries on Tuesday June 12, following a downturn in prices.The mills in the country were quiet at the beginning of the week due to increasing offers, and paused their deep-sea bookings in expectation of lower prices, according to market sources.But a steel producer in the Iskenderun region came to the market on...Read More
The price gap between different grades of iron ore continued to hold up on Tuesday June 12 amid modest gains for this segment of the steelmaking raw materials market during the day.Metal Bulletin 62% Fe Iron Ore Index: $67.23 per tonne cfr Qingdao, up by $0.48 per tonneMetal Bulletin 58% Fe Premium Index: $54.29 per tonne cfr Qingdao, up by $0.45 per tonneMetal Bulletin 65% Fe Iron Ore Index: $88....Read More
Metal Bulletin has amended three European and CIS pig iron price specifications to ensure they are in line with and reflect existing market conditions. Following a month-long market consultation, the European and CIS pig iron prices have been amended to include manganese content in the pig iron. Payment terms and minimum order size have been revised in line with current market conditions. Ame...Read More