The latest metal markets news and price moves to start the North American day on Monday June 4. The latest metal markets news and price moves to start the North American day on Monday June 4. The three-month copper and aluminium prices rose slightly on the London Metal Exchange in today's morning trading. The copper price ticked $48 higher to $6,944 per tonne, with the market awaiting further...Read More
Umicore will build its first cathode materials production plant in Poland, and hopes to start supplying automotive-sector customers in Europe by 2020. Belgium's Umicore has chosen the city of Nysa in Poland as the location where it will build its first production plant to manufacture cathode materials for the European automotive market. Given the intention to start deliveries in 2020, the three pr...Read More
Turkish steel producers have continued to book deep-sea scrap cargoes, with prices weakening further, sources said on Monday June 4.A steel producer in the Marmara region booked a European cargo late on June 1, comprising 20,000 tonnes of HMS 1&2 (75:25), 18,000 tonnes of a mixture of plate and structural scrap (P&S) and HMS 1, and 2,000 tonnes of busheling, at an average price of $334 per tonne c...Read More
Turkish domestic auto bundle scrap prices have gone down in line with the weakening imported scrap values, while ship scrap prices have remained stable over the past week, sources said on Monday June 4.A number of steel producers in the country have reduced their buy prices for auto bundle scrap by around TRY20-90 ($4-19) per tonne delivered.Alloy long steel mill Asil ??elik cut its buy price for...Read More
Physical iron ore prices softened on Monday June 4 amid losses in China's steel and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $65.47 per tonne cfr Qingdao, down by $0.69 per tonneMetal Bulletin 58% Fe Premium Index: $53.51 per tonne cfr Qingdao, down by $0.05 per tonneMetal Bulletin 65% Fe Iron Ore Index: $86.30 per tonne cfr Qingdao, down by $0.10 per tonneMetal Bulletin 62% Fe China...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 of 61% Fe Pilbara Blend fines, sold...Read More
SHANGHAI, Jun 4 (SMM) – Most nonferrous metals weakened on Monday June 4 except for SHFE copper and aluminium. SHFE tin fell 2%, zinc closed 0.62% lower, and lead and nickel inched down. The ferrous complex dipped across the board as coke led the loss with a drop of nearly 3.5%. Iron ore, coking coal, and hot-rolled coil fell over 1%, and rebar edged down. Copper: SHFE 1807 co...Read More
SHANGHAI, Jun 4 (SMM) – Most nonferrous metals weakened on Monday June 4 except for SHFE copper and aluminium. SHFE tin fell 2%, zinc closed 0.62% lower, and lead and nickel inched down. The ferrous complex dipped across the board as coke led the loss with a drop of nearly 3.5%. Iron ore, coking coal, and hot-rolled coil fell over 1%, and rebar edged down. Copper: SHFE 1807 co...Read More
The seaborne coking coal spot market started off the week on a relatively stable note with the gap between bids and offers in China said to be narrowing.An 80,000-tonne cargo of low-ranked second-tier hard coking coal with 9% ash was traded at $179 per tonne cfr China during the day, market sources told Metal Bulletin on Monday June 4. The shipment's laycan is June 10-20."The sentiment in the mark...Read More
SHANGHAI, Jun 4 (SMM) – Most nonferrous metals weakened on Monday June 4 except for SHFE copper and aluminium. SHFE tin fell 2%, zinc closed 0.62% lower, and lead and nickel inched down. The ferrous complex dipped across the board as coke led the loss with a drop of nearly 3.5%. Iron ore, coking coal, and hot-rolled coil fell over 1%, and rebar edged down. Copper: SHFE 1807 co...Read More
SHANGHAI, Jun 4 (SMM) – A nickel sulphate plant in Guangxi province was ordered to suspend for rectification as of Monday June 4, SMM learned. This is likely to reverse the domestic oversupply of nickel sulphate in the short term. The plant accounted for 10% of domestic nickel sulphate output in China.The shutdown, likely to last for at least a month, followed after offi...Read More
Metal Bulletin has amended the daily coking coal indices to extend the deadline for data collection. Metal Bulletin has extended the cut off time for data collection for its daily coking coal indices, in line with the robust trading activity observed during the latter half of the day. The new cut off time for data collection is 6pm Singapore time from the present 5:30pm Singapore time deadline.&nb...Read More
SHANGHAI, Jun 4 (SMM) – A total of 226 metal and nonmetal mines in Tangshan, Hebei province are required to suspend operation until they obtain a valid "safe production licence", or renew their licences, according to a municipal government notice released on Sunday June 3.The suspension is likely to further tighten supplies of iron ore concentrate in Tangshan and sup...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Apple gained $1.33 to an all-time high of $191.57 prior to start of its annual developer's convention.Merck added $1.09 to $61.65 after announcing positive results for Keytruda in melanoma trials.Amazon gained $6.46 to $1,648.00 after SunTrust raised its target price to $2,000 from $1,90...Read More
China's iron ore and coking coal futures largely bucked the downtrend during morning trading on Monday June 4, with seaborne prices for physical cargoes finding support at the end of last week.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,722 yuan ($580) per tonne, down 34 yuan per tonne October hot-rolled coil: 3,863 yuan per tonne, down 60 yuan per tonne Dal...Read More
SHANGHAI, Jun 4 (SMM) – A total of 226 metal and nonmetal mines in Tangshan, Hebei province are required to suspend operation until they obtain a valid "safe production licence", or renew their licences, according to a municipal government notice released on Sunday June 3.The suspension is likely to further tighten supplies of iron ore concentrate in Tangshan and sup...Read More
SHANGHAI, Jun 4 (SMM) – China’s copper scrap imports are likely to remain at low levels in May as Chinese authorities imposed broad-based inspections on all scrap materials from the US from May 4, SMM believed.China imported 180,000 mt of copper scrap in April, down 36.7% year on year and 19.3% month on month, according to data from Chinese Customs. This marked a third l...Read More
SHANGHAI, Jun 4 (SMM) – A total of 226 metal and nonmetal mines in Tangshan, Hebei province are required to suspend operation until they obtain a valid "safe production licence", or renew their licences, according to a municipal government notice released on Sunday June 3.The suspension is likely to further tighten supplies of iron ore concentrate in Tangshan and sup...Read More
SHANGHAI, Jun 4 (SMM) – Social inventories of zinc as of Monday June 4 increased 3,800 mt from Friday June 1 and stood at 122,100 mt across Shanghai, Guangdong and Tianjin, SMM data showed.A rise of 4,800 mt across Shanghai's warehouses and more deliveries of imported zinc during the weekend accounted for the increase.Compared to last Friday, inventories shrank 650 mt to 20,200 mt in Gua...Read More
SHANGHAI, Jun 4 (SMM) –Copper: The SHFE 1807 contract rose above the daily moving average after it fell to a low of 51,490 yuan/mt last Friday night. Technically, LME copper now struggles among several moving averages. We see some upward momentum for it as its KDJ indicator expands upwards. The SHFE 1807 contract now stands firmly above the 51,500 yuan/mt level. We expect LME copper to...Read More