The US Treasury Department has extended the deadline for investors to divest their holdings in sanctioned Russian companies, allowing them until 12:01 am August 5 to offload their debt, equity or other holdings. The Treasury's Office of Foreign Assets Control (OFAC) issued its General License 13B on May 31, moving the deadline from June 6 to August 5. The license applies to EN+ Group Plc,...Read More
Nickel is likely to remain the material of choice in electric vehicle (EV) batteries, but automobile manufacturers could be forced to consider alternatives if prices rise too high, according to an industry expert. "The auto industry won't sit there and take high prices," Ken Hoffman, senior expert at McKinsey & Co's basic materials practice, told attendees at Metal Bulletin's sixth International N...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
The volatility in global copper stocks this year has benefited trading volumes across both the Chicago Mercantile Exchange (CME) and Shanghai Futures Exchange, while the London Metal Exchange's inventory has fluctuated widely and dropped to a four-month low this week.LME copper stocks fell to 283,375 tonnes on Wednesday May 30, the lowest since January 24. Stocks have rebounded sharply to 311,525...Read More
Blister copper refining charges (RCs) in China edged down in May as spot tonnages were sought following the recent shutdown of several domestic primary smelters and a continued fall in copper scrap imports. Metal Bulletin assessed RCs for 98-99% blister copper on a cif China basis at $210-230 per tonne on Thursday May 31, down $15 month on month, with several spot deals of African tonnages se...Read More
Comex copper prices edged higher on Friday June 1, though the slight uptick is unimpressive compared with the gains seen in other base metals this week. Copper for July settlement on the Comex division of the New York Mercantile Exchange ticked up 0.8%, or 2.5 cents per lb, to $3.09 per lb. "LME copper has underperformed its complex notably this week. While copper is little changed since Monday, t...Read More
The United States' decision to impose Section 232 tariffs of 25% on steel imports is the "best worst-case scenario", European long steel exporters told Metal Bulletin this week.The US imposed Section 232 tariffs of 25% on steel imports and 10% on aluminium imports from Canada, Mexico and the European Union with effect from 12.01am on Friday June 1. "We are happier with a 25% tariff than a quo...Read More
Coated coil prices in Turkey were stable this week, with demand remaining poor in both the local and export markets, sources told Metal Bulletin on Friday June 1. Domestic prices One Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $745-750 per tonne ex-works this week, while no new price was heard from the second producer, who offered similar product at $770-780 p...Read More
Flat steel prices in Turkey's domestic, import and export markets have been mostly stable this week, with demand remaining limited, market participants told Metal Bulletin on Friday June 1.Some domestic producers are still accepting orders for July production, while others have closed their order books for July but have not yet started to offer August production.Domestic pricesHot-rolled coil (HRC...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. Latest transactions: HRC, CRC, HDG, PPGIHot-rolled coil...Read More
South America's flat steel import prices were unchanged for another week as the effects of a trucker's strike in Brazil minimized any market movement for the last days of May.In Brazil, the import market for flat steel goods came to a halt this week due to the devaluation of the local currency, as well as the effects of the continuing truck drivers' strike, according to a local trader."Port facili...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in May 2018.The case list below includes only updates. For other continuing cases this year, see...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metals Blister copper refining charges (RCs) in China edged down in May as spot tonnages were sought following the recent shutdown of several domestic primary smelters and a continued fall in copper scrap imports.The European Commission (EC) has encouraged all non-EU countries affected by t...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday June 1:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.40-11.50 per lb from $11.25-11.40 Molybdenum US canned molybdic oxide, $/Ib $11.60-11.70 per Ib from $11.40-11.70 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $28.00-28.30 per kg from $27.50-28.00 Ferro-molybdenum US 65...Read More
Key data from the pricing session in the week ending Friday June 1. China China's domestic ferro-chrome prices rose following higher June tender prices and production cuts in small plants based in Fujian, Sichuan, Jiangsu and Hunan regions. The market anticipates further disruption to...Read More
Battery-grade lithium carbonate prices have softened week on week due to cheaper material entering the market and because of downstream consumer expectations for lower prices; lithium prices in other regions were unchanged due to sluggish spot market activity. Battery-grade lithium carbonate prices in China weaken Lower battery-grade quality material available in the market drag down assessm...Read More
The latest metal markets news and price moves to start the North American day on Friday June 1. Nickel prices on the London Metal Exchange climbed 3% during morning trading, reaching levels not seen since the metal's mid-April sanction-related spike. Meanwhile, sideways trading takes effect across the rest of the complex. "The exception is nickel where prices spiked higher in the early hours to $1...Read More
Manganese ore miner Tshipi Borwa ?(C) Ntle Manganese Mining more than doubled its profit after taxation to ZAR 1.9 billion ($150.65 million) in the twelve months to February 28 2018, its largest shareholder Jupiter Mines has announced.The figure compares with a post-tax profit of ZAR891 million for the year to February 29 2017. Production at the South African manganese mine located the Northern...Read More
Iron ore export volumes from Brazil increased by 11.01% year on year in May, according to figures released by the country's foreign trade ministry, MDIC, on Friday June 1.Iron ore shipments came to 38.98 million tonnes last month, compared with 35.11 million tonnes in the same period in 2017.But Brazil's iron ore export revenues came to $1.55 billion in May, down...Read More
The UK light iron scrap market was stable over the past week, for the eighth week in a row, as market expectation of a downturn in prices failed to materialise ahead of monthly delivery settlements to consumers in June, industry sources told Metal Bulletin on Friday June 1. Market sentiment has also been cautious after the United States imposed tariffs of 25% on imports of steel from the European...Read More