Base metals on the London Metal Exchange ended mostly lower at the close of trading on Tuesday May 8, with aluminium and zinc bucking the trend. Tin's three-month price was the most significant downward move in the complex, falling 1.5% and reaching a low of $20,865 per tonne during the afternoon.The drop comes after prices remained firmly above $21,000 per tonne throughout April, largely due to c...Read More
Physical iron ore trading and prices stayed tepid on Tuesday May 8 despite gains in the futures market.Metal Bulletin 62% Fe Iron Ore Index: $66.80 per tonne cfr Qingdao, down by $0.46 per tonne Metal Bulletin 58% Fe Premium Index: $55.54 per tonne cfr Qingdao, down by $0.02 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.20 per tonne cfr Qingdao, down by $0.10 per tonneMetal Bulletin 62% Fe C...Read More
Spot prices in the seaborne coking coal market pushed up on Tuesday May 8 after several transactions took place at higher rates. A premium mid-vol cargo with end May-laycan changed hands at $193 per tonne cfr China to an end-user, Metal Bulletin heard. A transaction involving a premium mid-vol cargo was said to have been agreed at $186.50 per tonne fob Australia, while a deal for a lower...Read More
Global steel slab prices decreased in April, but trading remained weak in all regions due to poor demand and uncertainty about how the market will develop after the Section 232 trade investigation in the United States.Southeast AsiaIn Southeast Asia, slab offers started to come down early in May, but market participants believe that the current prices are still high.Despite lower offers, no large...Read More
Physical iron ore trading and prices stayed tepid on Tuesday May 8 despite gains in the futures market.Metal Bulletin 62% Fe Iron Ore Index: $66.80 per tonne cfr Qingdao, down by $0.46 per tonne Metal Bulletin 58% Fe Premium Index: $55.54 per tonne cfr Qingdao, down by $0.02 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.20 per tonne cfr Qingdao, down by $0.10 per tonneMetal Bulletin 62% Fe C...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 8.Read More
The copper market is moving into a deficit that is forecast to widen to more than 4 million tonnes per year by 2026, according to Freeport-McMoRan executive Red Conger.Conger, who is president and chief operating officer (Americas) for the US copper producer, said that the deficit is expected to reach 4.2 million tpy despite positive changes in efficiencies through technology and other methods, wh...Read More
Brazilian export volumes of primary aluminium increased by 82.7% year-on-year in April due to increased shipments from Norsk Hydro's Albras unit to Japan.Exports of unwrought metal totaled 30,405 tonnes last month, compared with 16,641 tonnes in April 2017, according to figures released late last week by the country's foreign trade ministry, MDIC.This reflects a 65.5% year-on-year increase in ship...Read More
The latest metal markets news and price moves to start the North American day on Tuesday May 8. Base metals on the London Metal Exchange were mostly lower during morning trading, with broad consolidation in effect across the complex.Aluminium's three-month price continues to trade firmly above $2,300 per tonne, reaching a high of $2,372 per tonne over the morning. Despite the light metal's recent...Read More
Base metals on the London Metal Exchange were mostly lower during morning trading on Tuesday May 8, with broad consolidation in effect across the complex. Aluminium's three-month price continues to trade firmly above $2,300 per tonne, reaching a high of $2,372 per tonne over the morning. Despite the light metal's recent activity typified by spates of volatility and alternating spreads, prices are...Read More
Brazilian export volumes of carbon steel slab soared in April 2018, while billet exports fell, according to figures released by foreign trade ministry MDIC late last week.Shipment volumes of steel slab from the South American country reached 547,216 tonnes in April, up by 89.01% from 289,511 tonnes a year earlier. The size of the increase may be partly explained by there being more working days in...Read More
The global construction sector will grow at an average of 3.7% per year over the next five years, reaching an annual value of $12.4 trillion by 2022, compared with $10.4 trillion in 2017, a rebar producers' conference has heard.This growth will in turn provide solid long-term fundamentals for the long steel products market, Jose Angel Ray, international commercial director for the Celsa Group, tol...Read More
Prices for steel rebar in the United Arab Emirates and Saudi Arabia were stable this week while demand remained weak, sources told Metal Bulletin on Tuesday May 8. The market also was expected to remain slow in the coming weeks because of the Islamic holy month of Ramadan, which begins in mid-May, when working hours are reduced.Domestic rebar The major rebar producers in the UAE announced new pric...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia decreased slightly this week on limited demand, sources told Metal Bulletin on Tuesday May 8. Buyers preferred to postpone bookings ahead of the Islamic holy month of Ramadan, which starts in mid-May and will lead to a further reduction in market activity. However, prices are not falling sharply because of strong iron ore prices...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, HDGHot-rolled coilChina, export, hot-rolled coil (2mm), offered at $620-630 per tonne cfr, to the UAE.India, export, hot-rolled coil (2mm), offered at $650-660 p...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletIran, export, billet, offered...Read More
An increasing threat of protectionism and the potential for retaliatory measures leading to a global trade war is the key risk to an otherwise positive outlook for the steel market in Europe, regional steel association Eurofer said on Tuesday May 8.In 2017, the European steel market performed healthily, supported by favorable conditions in both the domestic and international markets, the organizat...Read More
Chinese ferro-vanadium and vanadium pentoxide (V2O5) offers softened on limited export activity this past week, while the European markets were stagnant on a lack of spot market demand. Chinese vanadium export activity limited, offering prices slideEuropean vanadium markets inactive, prices flat US ferro-vanadium spot market activity picks up, prices narrow The Chinese ferro-vanadium export market...Read More
Ganzhou Tungsten Association (GTA) has raised its tungsten price forecasts for May in response to the recent rebound in prices on concerns of supply disruptions following a new round of environmental checks in major tungsten production hub, Jiangxi province, from mid-April.GTA forecast average prices for black tungsten concentrate 65% and ammonium paratungstate (APT) in May at 112,500 yuan ($17,70...Read More
Chinese ferro-silicon prices were stable last week, but shortened supply and more active trading suggest an uptick in pricing ahead. Chinese domestic market sees active trading, short supplyEuropean prices slide on thin trading activity US spot market stable amid spot inactivity Chinese domestic ferro-silicon market supported by tight supplyChinese domestic ferro-silicon prices were stable last we...Read More