Deliverable copper stocks at Shanghai Futures Exchange-approved warehouses rise 5.8% or 15,240 tonnes since Friday May 4 to stand at 279,925 tonnes as of May 11.SHFE inventories are usually published on FridaysThis week, Zhongchu Dachang in Shanghai had the most copper stock arrive with 6,814 tonnes entering its sheds. Copper stocks in SHFE warehouses have been on an uptrend since Chinse sellers.....Read More
Spot iron ore prices strengthened on Friday May 11 following increases in the steel and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $67.42 per tonne cfr Qingdao, up by $0.59 per tonne Metal Bulletin 58% Fe Premium Index: $55.07 per tonne cfr Qingdao, up by $0.67 per tonne Metal Bulletin 65% Fe Iron Ore Index: $86.10 per tonne cfr Qingdao, up by $0.90 per tonne Metal Bulletin 62% Fe China...Read More
Seaborne coking coal prices softened on Friday May 11, though market participants in China said that they do not expect any significant drops in the coming week. A cargo of premium hard coking coal changed hands at $181.50 per tonne fob Australia during the day, sources told Metal Bulletin. A trade involving premium materials was also concluded at $185 per tonne fob Australia a day earlier, they s...Read More
In light of feedback received as part of the consultation on its international cobalt price specifications, Metal Bulletin will change the names of its benchmark in-warehouse Rotterdam assessments from January 2019. From January 2019, the name 'standard-grade' will replace the name 'low-grade'. The name 'alloy-grade' will replace the name 'high-grade'. The last date prices will be published under...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday May 11:Minor metals Antimony MB free market regulus, $/tonne: $8,050-8,350 per tonne from $8,000-8,300 Bismuth MB China domestic, yuan/tonne: 65,500-68,000 yuan per tonne from 67,500-69,000 yuan Cadmium MB free market min 99.99%, cents/lb: 135-155 per lb from 145-155 Cobalt MB China domestic,...Read More
An overview of China's minor metals markets in the week of May 7-11 and the reasons for any price moves.Read More
Three-month base metals prices on the London Metal Exchange gave a mixed performance on the morning of Friday May 11, with the complex averaging a slight 0.1% gain as at 06.42 am London time.Copper and aluminium were down by 0.2% and 0.4% respectively, nickel and zinc were little changed, while lead (+0.7) and tin (+0.3%) were the complex's strongest performers.But with a total trading volume of 3...Read More
Stainless steel group Aperam expects a slight quarter-on-quarter improvement in earnings in April-June 2018, despite increasing import pressures in the EU market and rising input costs.It expects earnings before interest, taxes, depreciation and amortization (Ebitda) for the second quarter of the year to be slightly better than the ?,?141 million ($168 million) it reported in January-March 2018."T...Read More
Flat and long stainless steel product prices in Europe have gone unchanged over the past week amid low activity because of public holidays across Europe and high stock levels at warehouses, sources told Metal Bulletin on Friday March 11.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet was stable week-on-week at ?,?1,050-1,100 ($1,248-1,308) pe...Read More
China's domestic stainless steel prices moved up over the past week amid active trading. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,700-15,100 yuan ($2,313-2,376) per tonne including VAT for the week ended Thursday May 10, up 300-500 yuan per tonne from a week earlier. Trading activity picked up over the past week with end-...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday May 11:Aluminium ingot Duty paid delivered works...Read More
The UK inter-merchant price range for austenitic alloy steel scrap has risen by ?10-20 per tonne over the past week, following stronger demand from UK mills, sources said on Friday May 11."Demand has picked up, and prices are healthy, so scrap is coming in," one UK trader said.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?960-1,020 ($1,299-1,381) pe...Read More
Domestic prices for ferrous scrap in Italy have been largely unchanged in May so far due to an even supply-demand balance, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade E3 scrap in Italy was ?,?285-305 ($339-363) per tonne delivered in May, compared with ?,?285-300 per tonne delivered a month earlier. "Mills have relatively low stocks of the material ...Read More
ArcelorMittal predicts that demand for steel will continue to pick up after posting positive financial results for the first quarter of 2018, the company said on Friday May 11."The improvement in global steel market dynamics has continued into 2018, supporting an encouraging financial performance in the first quarter," chairman and chief executive officer Lakshmi Mittal said.The world's biggest st...Read More
ArcelorMittal Europe's first-quarter 2018 earnings jumped 14.9% year-on-year due to higher steel shipments and prices, the company said on Friday May 11.Earnings before interest, taxes, depreciation and amortization (Ebitda) at ArcelorMittal Europe increased to $1.04 billion in the first three months of 2018, up from an Ebitda of $909 million in the corresponding period in 2017. The increase was m...Read More
Two of the world's largest aluminium producers are teaming up with Apple and the governments of Canada and Quebec in a technology joint venture that could revolutionize the sector. Alcoa and Rio Tinto equally own the majority of the joint venture, to be called Elysis, with the government of Quebec holding a small equity stake of 3.5%. Alcoa had been quietly working on the technology to produce emi...Read More
ArcelorMittal predicts that demand for steel will continue to pick up after posting positive financial results for the first quarter of 2018, the company said on Friday May 11."The improvement in global steel market dynamics has continued into 2018, supporting an encouraging financial performance in the first quarter," chairman and chief executive officer Lakshmi Mittal said.The world's biggest st...Read More
ArcelorMittal Europe's first-quarter 2018 earnings jumped 14.9% year-on-year due to higher steel shipments and prices, the company said on Friday May 11.Earnings before interest, taxes, depreciation and amortization (Ebitda) at ArcelorMittal Europe increased to $1.04 billion in the first three months of 2018, up from an Ebitda of $909 million in the corresponding period in 2017. The increase was m...Read More
Two of the world's largest aluminium producers are teaming up with Apple and the governments of Canada and Quebec in a technology joint venture that could revolutionize the sector. Alcoa and Rio Tinto equally own the majority of the joint venture, to be called Elysis, with the government of Quebec holding a small equity stake of 3.5%. Alcoa had been quietly working on the technology to produce emi...Read More