The recent rebound in manganese ore prices was partly due to a consumer backlash losing momentum because a recent ore price decline had outpaced that of silico-manganese, market sources told Metal Bulletin. Manganese alloy smelters have held a series of meetings in recent months in an effort to dictate manganese ore price ceilings, citing squeezed margins and warning of possible production cuts. T...Read More
China's domestic and export coke prices extended their upward momentum this month amid healthy demand from Chinese mills and continued restrictions on cokeries.Metal Bulletin's assessment of export prices for Chinese coke with 65% coke strength after reaction (CSR), 12.5% ash, 30-90mm, was $340-350 per tonne fob China for the week ended Tuesday May 29.Although unchanged from the preceding week, th...Read More
Physical iron ore prices continued to strengthen on Thursday May 31, with Brazilian materials still outshining others.Metal Bulletin 62% Fe Iron Ore Index:$65.32 per tonne cfr Qingdao, down by $0.46 per tonneMetal Bulletin 58% Fe Premium Index:$53.31 per tonne cfr Qingdao, up by $0.16 per tonneMetal Bulletin 65% Fe Iron Ore Index:$85.80 per tonne cfr Qingdao, up by $0.90 per tonneMetal Bulletin 62...Read More
A dismal economic situation in Turkey is piling pressure on prices in ferrous scrap markets around the world, delegates said at the Bureau of International Recycling (BIR) international conference in Barcelona. Sentiment among delegates was mainly downbeat during the four-day event in Spain. Ferrous scrap exporters pointed to a strong US dollar compared to key importer currencies and traders compl...Read More
Due to an administrative error, Metal Bulletin's 62% Fe China Port Price Index was published incorrectly on May 31, 2018.Metal Bulletin has corrected its 62% Fe China Port Price Index, which was published incorrectly on May 31 due to an administrative error.The price was published at $62.75 per tonne and has subsequently been corrected and currently stands at $64.49 per tonne.Metal Bulletin's pric...Read More
Concerns over a supply shortage of coking coal emerged among market participants outside China on Thursday May 31, ending the deadlock between sellers and buyers that has lasted several weeks."There will be a decrease in spot cargo availability in the July-September quarter due to [Australian rail freight operator] Aurizon's new maintenance plan. There are some adjustments in our contract for that...Read More
China's domestic rebar prices moved up on Thursday May 31 amid a strengthening of the billet and futures markets.Domestic Eastern China (Shanghai): 3,920-3,970 yuan ($610-618) per tonne, up 50 yuan per tonne Northern China (Beijing): 3,870-3,890 yuan per tonne, up 10 yuan per tonne Although spot prices rose, trading activity did not pick up in tandem with them with most buyers having a pessimistic...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday May 31*Copper -$108.92 (-698.89 yuan) Aluminium -$528.93 (-3,393.85 yuan) Zinc -$15.81 (-101.46 yuan) Nickel -$502.32 (-3,223.16 yuan) *Metal Bulletin calculates the physical arbitrage for import into...Read More
Chromium prices in Europe fell last week due to a flood of cheaper Chinese material coming into the market. Metal Bulletin's weekly price assessment for in-warehouse chromium dropped to $12,700-13,500 per tonne on Friday May 25 from $13,250-13,995 per tonne in the previous session."We've got firm bids for a truck at $13,100 [per tonne] with nobody biting at $13,900 [per tonne]," a trader...Read More
Key data from the Wednesday May 30 pricing session in Shanghai.Key drivers:- Limited spot availability of Jinchuan cobalt, a major cobalt brand, in China supported domestic metal prices despite weakening local futures prices. - Offers and deals for Jinchuan cobalt were about 600,000-610,000 yuan per tonne (equivalent to approximately $36.54-37.15 per lb China VAT-free) midweek; meanwhile imported...Read More
A bullish stance for base metals and market uncertainty caused by a deceleration in economic growth in Europe, Japan and China were the key topics of the base metals panel at the annual Shanghai Derivatives Market Forum on 29-30 May. Bullish on copper, aluminum, nickel, cobalt Speakers were positive about the performance of copper, aluminum, nickel and cobalt in the second half of 2018, with the m...Read More
China's manufacturing purchasing managers' index (PMI) for May surprised to the upside at 51.9, having been expected to remain at April's level of 51.4, though the positivity surrounding this release has yet to filter through to base metals prices on the London Metal Exchange. Three-month base metals prices on the LME were for the most part little changed during morning trading on Thursday May 31....Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday May 31.Base metal prices on the Shanghai Futures Exchange were all up during Asian morning trading on Thursday, finding support from the release of positive Chinese data and a weaker dollar.China's manufacturing Purchasing Managers' Index (PMI) for May surprised to the upside with a r...Read More
China's ferrous futures mostly edged up during morning trading on Thursday May 31 despite a drop in the latest steel purchasing managers' index (PMI). Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,682 yuan ($573.30) per tonne, up 6 yuan per tonne October hot-rolled coil: 3,895 yuan per tonne, up 5 yuan per tonne Dalian Commodity Exchange September iron ore: 46...Read More
Stainless steel prices in East Asia moved up over the past week amid sustained upward momentum in the nickel segment and falling spot market inventory levels in China.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,230-2,320 per tonne cif East Asian ports for the week ended Wednesday May 30, up $30-60 per tonne from a week earlier.Metal Bulleti...Read More
Tokyo Steel has increased the purchasing price for overland arrivals of H2-grade scrap at its Utsunomiya plant this week.The Japanese steelmaker is paying ?36,500 ($335.50) per tonne at Utsunomiya from Wednesday May 30 onward, up ?500 per tonne from its last price.Its purchasing prices...Read More
Lead Today Profit Tips – Lead buy JUN Carry Call a62 given at price 165.20 CMP 165.90. Only Low risk taker book 0.7 x 2 lot = 1.4 points Profit. RISK taker Hold as per tipsTIPS ID a62 : Mcx Lead Carry Call - BUY Lead Jun at CMP 165.20 for Target 166.30 - 166.90 with SL below Price 164 Read More
Tips for Copper – Copper Mcx Carry BUY Call a5e for Jun given at price 454.50 Achieved 1st Target 458.50. CMP 458.90. Total profit of 4.4 x 2 lot = 8.8 PointsTIPS ID a5e : Copper Carry Tips - Risk Taker BUY Copper JUN at CMP 454.50 Add more at price 452 with SL 450.90 for Target 458.50 - 460.50 Read More
Mcx Nickel Trading – Nickel BUY Call a60 given at price 994 Achieved 2nd Target 1009. CMP 1011. Total profit of 15 x 2 lot = 30 Points in Nickel tipsTIPS ID a60 : Today Nickel Calls - Buy 2 lot Nickel at CMP 994 for Target 1003 - 1009 with SL below price 984 Read More
TODAY NICKEL TARGET LEVELToday Nickel Target – Nickel buy Call a60 given at price 994 for 2 lot achieved 1st Target 1003. CMP 1003.90. Total profit of 9 x 2 lot = 18 Points profita60 : Today Nickel Calls - Buy 2 lot Nickel at CMP 994 for Target 1003 - 1009 with SL below price 984 Read More