US ferrous scrap export prices are losing ground, with bulk export pricing on the West Coast falling in two cargo sales to Asia and containerized scrap facing more downward pressure on both the East and West Coasts. The first of the two cargoes sold by West Coast exporters to Asian mills during the past seven days was for a full cargo of shredded scrap, booked by a Bangladeshi buyer at $...Read More
The stainless steel scrap market in the United States has shown little change over the past week, although a potential storm could be brewing, according to market participants."Consumers are quite hesitant to raise pricing for a few reasons, one being the drop in ferrochrome [and] the other being the season of the year. I am cautiously optimistic, but then again it's anyone's guess on what the mar...Read More
The ferrous scrap market in the United States appears to be gearing up for a relatively quiet month in June, with no sharp price volatility expected in either direction.Early talk for the upcoming June negotiations suggests that prime scrap tags could move sideways to slightly higher, and prices for cuts and shredded scrap could move sideways to slightly lower, according to buyers and sellers.&nbs...Read More
Turkish steel producers have continued to book deep-sea scrap cargoes for June delivery, sources said on Wednesday May 30.A steel producer in the Marmara region booked a European cargo, comprising 26,500 tonnes of HMS 1&2 (80:20), 10,000 tonnes of shredded and 10,000 tonnes of bonus at an average price of $336 per tonne cfr late on May 29.With the news of this European transaction, the daily indic...Read More
Metal Bulletin proposes to launch a weekly European hot briquetted iron (HBI) assessment on a cfr Italy basis, $ per tonne. The European HBI assessment is being launched in response to the growing global HBI market, with Italy being the largest consumer in the spot market. Proposed specification: Price: Italian hot-briquetted iron, $ per tonne, cfr Italian portsType: Assessed rangeLocation: cfr It...Read More
China is likely to take an economic hit from its crackdown on scrap imports, prompting it to adopt a more pragmatic approach in the future, panelists of the Bureau of International Recycling's (BIR) International Trade Council said at the association's Barcelona conference. China has announced several drastic measures to curtail the import of scrap into the country in recent months. The country's...Read More
All pig iron production facilities in Brazil came to a halt this week due to the truck drivers' strike over recent fuel price rises, Metal Bulletin was told on Wednesday May 30."100% of the pig iron sector has stopped due to the strike," a producer said."[Operations at] almost all companies are reportedly halted," a second producer added.The Brazilian truck drivers' nationwide strike, which began...Read More
Base metals were broadly lower on the London Metal Exchange during morning trading on Wednesday May 30, with tin the only metal to record an upward move against a strengthening US dollar index.Tin's three-month price is consolidating around $20,500 per tonne, recovering from its dip below $20,000 per tonne on May 25, its lowest point since January 2018. Concerns over tightening supply continu...Read More
Eastern China's rebar prices continued rising on Wednesday May 30 on falling stockpiles, while those in northern China were flat amid weak trading activity.Domestic Eastern China (Shanghai): 3,870-3,920 yuan ($603-611) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,860-3,880 yuan per tonne, unchangedRebar inventories in major eastern Chinese markets such as Shanghai and Hangzhou hav...Read More
Spot copper premiums strengthened in Europe in the week ended Tuesday May 29, with a strong contango on the London Metal Exchange boosting sellers' resolve to deal at higher levels. Asian rates, meanwhile, were flat with the previous week's levels. Italian premiums at their highest in over two years German premiums reach their highest level since December 2016 Asian markets largely steady; eyes o...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday May 30*Copper -$95.22 (-613.86 yuan) Aluminium -$508.90 (-3,280.69 yuan) Zinc $32.20 (207.57 yuan) Nickel -$602.89 (-3,886.6 yuan) * Metal Bulletin calculates the...Read More
The following Metal Bulletin minor metals prices changed on Wednesday May 30:Minor metals Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 52,000-52,500 yuan per tonne from 51,000-51,500 yuan Cobalt MB free market high grade, $/lb:...Read More
An overview of the minor metals markets and the reasons for any price moves. The above...Read More
Three-month base metals prices on the London Metal Exchange were down across the board by an average of 0.4%, with copper prices off by 0.9% at $6,768 per tonne. Volume has been heavy with 12,850 lots traded as of 07:53 am London time. This follows a mixed performance on Tuesday when copper and lead prices were off 0.5% and 0.3% respectively, aluminium prices closed up by 0.1% and the rest were up...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday May 30:Aluminium scrap Group 1 pure 99% & litho: ?1,425-1,470...Read More
China's ferrous futures started the day low on Wednesday May 30 but most contracts ended the morning session higher, with the exception of that for iron ore.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,644 yuan ($567.90) per tonne, up 19 yuan per tonne October hot-rolled coil: 3,868 yuan per tonne, up 23 yuan per tonne Dalian Commodity Exchange September iron...Read More
Nickel Mcx – Nickel BUY Call a4c given at price 1004.50 CMP 1009.50 Near to 1st Target 1010. Low risk taker book 5 Points x 2 lot = 10 Points at CMPTIPS ID a4c : Nickel Call - Buy Nickel at CMP 1004.50 for Target 1010 - 1014 with SL below price 999.50. RISK taker trade 2 lots Read More
NICKEL CALLNickel Call – Buy Nickel at CMP 1004.50 for Target 1010 – 1014 with SL below price 999.50. RISK Taker trade 2 lots Read More
Free Tips Zinc – Zinc BUY Call a44 given at price 209.40. CMP 209.90. Low risk taker may book 0.5 x 2 lot = 1 Points / Rs 5000TIPS ID a44 : Zinc Calls - Buy Zinc at cmp 209.40 for Target 210.40 - 211 with SL below price 208.40 Read More
Today Aluminium Call – Aluminium Sell Call a2e Given at 153.35 (SL Advised Above 154.25 Return from 154.30) Achieved 1st Target 152.60. Made 152.60. Total profit of 0.75 x 2 lot = 1.5 points profita2e : Aluminium Today - SELL Aluminium at CMP 153.35 for Target 152.60 - 152.0 with SL Above price 154.25 Read More