Nickel premiums worldwide were largely stable during the week ending Tuesday June 5 in thin trading conditions across all regions although Rotterdam uncut cathodes came under pressure, reflecting the approach of the traditional summer slowdown. Uncut cathodes in Rotterdam fall to $220-265 per tonne Shanghai nickel premiums remain flat on thin trading Demand for US material stable Start of sum...Read More
Egypt's biggest steel producer, Ezz Steel, enjoyed strong local demand and recorded a 190% increase in consolidated earnings before interest, taxes, depreciation and amortization (Ebitda) in the first quarter of 2018, the company said on Tuesday June 5.The company was helped in this by Egypt imposing anti-dumping duties on rebar imports from China, Turkey and Ukraine for a period of five years wit...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Southern Europe went unchanged over the past week, but prices could come under pressure amid continued weak demand, sources said on Wednesday June 6.The Southern European domestic price for mesh-quality wire rod was ?,?520-535 ($608-626) per tonne delivered on June 6."Non-integrated mesh producers are squeezed right now and they a...Read More
Domestic prices for steel beams in Southern Europe edged up this week on a dip in stock levels while Northern Europe prices remained stable, with demand continuing to be mixed, sources told Metal Bulletin on Wednesday June 6.Metal Bulletin's weekly price assessment for domestic S235-grade, 200x200mm category-2 H-beam in Northern Europe was unchanged week on week at ?,?590-620 ($690-725) per tonne...Read More
Key data from the Wednesday June 6 pricing session in Europe. Key drivers - Alloy producers reckon the market will consolidate above $5 per kg duty delivered paid in June due to increased consumer demand.- But traders reckon there is buying availability below that level. A 60-tonnes tender from Swedish steelmaker SSAB with a deadline on Thursday should provide spot price guidance...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday June 6:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.45-11.55 per lb from $11.40-11.50 Ferro-molybdenum basis 65%...Read More
The following Metal Bulletin minor metals prices changed on Wednesday June 6:Minor metals Cadmium MB free market min 99.95%, cents/lb: 125-140 cents per lb from 130-145 centsCadmium MB free market min 99.99%, cents/lb: 127-145 cents per lb from 130-150 centsCobalt MB China domestic,...Read More
Holta Invest, an investment company that owns Nizi Group, has bought Swedish metal powder maker Metal Powder Technology (MPT) to strengthen its presence in the metal powder business, the company said on Wednesday June 6.Holta Invest did not disclose the purchase price at the time of publication.Last year, MPT generated revenue of ?,?33 million ($38 million) from its sales of metal...Read More
Key data from Metal Bulletin's Wednesday June 6 pricing session in China.Molybdenum concentrate MB Chinese free market, 45% Mo, in-warehouse China, RMB/mtu Key drivers:- Market participants expect molybdenum prices to remain stable in June despite the rainy season in China, which might affect...Read More
The US stainless steel scrap market "has become boring," some industry participants said, although that has brought some stability."I like boring if we can make money," one major processor said."Any price changes we see in this market are very incremental," another major processor said, also indicating that the next move he sees "will be downward because there is too much metal in the marketplace....Read More
Turkish steel producers have continued to book deep-sea scrap for July shipments following the decision by the United States to impose a 25% tariff on steel imports from the EU, Canada and Mexico, sources said on Wednesday June 6.The US move, following its Section 232 trade investigation, was expected to raise the demand for Turkish rebar now that the tariff also applied to regions that had been g...Read More
The seaborne coking coal market was subdued on Wednesday June 6 though prices continued to experience support.Buyer sources in India and China said that they were keen to procure June- and July-laycan spot cargoes despite recent price increases. "Some of our term cargoes of premium hard coking coal have been delayed but we've made up for some of that shortfall with spot tonnages," a buyer source i...Read More
Physical iron ore prices edged up in the seaborne market while increases at Chinese ports were more pronounced on Wednesday June 6, amid gains in China's steel and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $66.56 per tonne cfr Qingdao, up by $0.22 per tonneMetal Bulletin 58% Fe Premium Index: $53.55 per tonne cfr Qingdao, up by $0.04 per tonneMetal Bulletin 65% Fe Iron Ore Index: $87.6...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 oreRio Tinto, tender, 170,000 tonnes...Read More
China's steel futures weakened during morning trading on Wednesday June 6, though steelmaking raw materials contracts largely had some support, with physical prices also trending higher this week amid supply constraints. Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,749 yuan ($587) per tonne, down 8 yuan per tonne October hot-rolled coil: 3,896 yuan per tonne,...Read More
Following Wuxi Stainless Steel Exchange's public consultation on adding nickel briquettes for physical delivery, many market participants have said the move would generate more liquidity and bring transparency to the nickel briquette price, if successfully approved.Queries on feasibility of nickel briquette Despite the general positivity regarding nickel briquettes, market participants have a few...Read More
SHANGHAI, Jun 6 (SMM) – A potential disruption in supply from domestic environmental reviews and a declining US dollar buoyed prices of SHFE copper recently, SMM senior analyst Ye Jianhua believed. The SHFE copper 1808 contract jumped over 2% to close at 53,320 yuan/mt on Wednesday June 6. LME copper currently stands at around $7,150/mt, with gains of 5% in the last four cons...Read More
SHANGHAI, Jun 6 (SMM) – Nonferrous metals rose across the board on Wednesday June 6 with SHFE nickel leading the gains with a rise of nearly 2%. Copper jumped 1.96%, zinc grew almost 1.9%, aluminium and lead rose over 1%, and tin inched up. The ferrous complex also soared as rebar led the gains and closed nearly 2% higher. Iron ore went over 1.8% higher, and hot-rolled coil rose over 1%...Read More
SHANGHAI, Jun 6 (SMM) – Nonferrous metals rose across the board on Wednesday June 6 with SHFE nickel leading the gains with a rise of nearly 2%. Copper jumped 1.96%, zinc grew almost 1.9%, aluminium and lead rose over 1%, and tin inched up. The ferrous complex also soared as rebar led the gains and closed nearly 2% higher. Iron ore went over 1.8% higher, and hot-rolled coil rose over 1%...Read More
Copper prices on the London Metal Exchange continued to rally during morning trading on Wednesday June 6, climbing 0.6% overnight to reach levels not seen since February. The red metal began the week within the $6,800-6,900 per tonne range, continuing to consolidate after short-term pressure surrounding United States-China trade relations resulted in price stagnancy. Supply concerns surrounding po...Read More