Manganese ore prices dropped as much as 8.4% in the past week amid deteriorating downstream demand. Low-grade ore prices fall below $6 per dmtu High-grade ore prices drop more than 4% Chinese alloy prices weaken on poorer demand from mills Indian silico-manganese prices drop Alloy prices hold in Europe, United StatesManganese ore prices sustained heavy losses on Friday May 4 amid poor demand from...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara Blend fines, sold at $65.81 per tonne cfr...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
China's iron ore imports edged up by 0.8% on the year in April with prices continuing to weaken.The world's largest buyer of the steelmaking raw material took in 82.92 million tonnes last month, up from 82.23 million tonnes a year...Read More
Chinese ferrous futures mostly increased during morning trading on Tuesday May 8, with the exception of the coking coal and coke contracts, which fell slightly.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,658 yuan ($575) per tonne, up 3 yuan per tonneOctober hot-rolled coil: 3,752 yuan per tonne, up 10 yuan per tonneDalian Commodity Exchange September iron or...Read More
BHP expects suppliers of high-quality steelmaking raw materials to benefit from the lift in Chinese steel utilisation rates and margins following China's supply side reforms. "We estimate about two-thirds of the lift in Chinese steel making utilization rates and margins since the introduction of supply side reform will be sustained in the long run," chief commercial officer Arnoud Balhuizen said i...Read More
Coal exports from Australia's metallurgical coal hub of Queensland nearly doubled in April in the absence of any weather event that disrupted coal supply last year. A total of 14.84 million tonnes of coal - including some thermal coal - were shipped last month, compared with 8.94 million tonnes a year earlier, according to data from the North...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday May 8*Copper -$71.28 (-454.52 yuan) Aluminium -$604.39 (-3854.19 yuan) Zinc -$51.91 (-331.01 yuan) Nickel -$554.06 (-3533.25 yuan) *Metal Bulletin calculates the physical arbitrage for import...Read More
Eastern China's domestic rebar prices maintained their downward trend on Tuesday May 8 due to softer demand, while in northern China prices were flat in stable trading.Domestic Eastern China (Shanghai)): 3,980-4,030 yuan ($625-633) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,890-3,940 yuan per tonne, unchangedIn eastern China, demand decreased for a second day because end use...Read More
China's domestic hot-rolled coil prices ran flat on Tuesday May 8 and demand remained stable as the futures market traded in a tight range throughout the day. DomesticEastern China (Shanghai): 4,200-4,220 yuan ($660-663) per tonne, unchangedNorthern China (Tianjin): 4,050-4,070 yuan per tonne, unchangedHRC futures moved in a narrow range between 3,726 yuan per tonne and 3,764 yuan per tonne today,...Read More
Base metals prices on the London Metal Exchange were for the most part stronger on the morning of Tuesday May 8, with all the metals, except tin (-0.7%), up by an average of 0.7%. Zinc led the advance with a 1% gain and copper was up by 0.2% at $6,858 per tonne.Volume on the LME has been average, with 7,927 lots traded as at 07.06 am London time. The precious metals were more diverse this morning...Read More
Swiss special and stainless steel producer Schmolz + Bickenbach (S+B) forecasts a rise in both demand and prices for special steel long products in 2018, it said after reporting successful results for the first quarter of the year."We expect that the special long steel industry will continue to grow in 2018, both in terms of sales volumes and the value of products, as we anticipate a further shift...Read More
Copper Tips – SELL Copper at CMP 460 for Target 458 – 457 with SL Above price 461.50AFTER POST CONTENT Read More
Nickel Commodity – Nickel Mcx BUY Call 7c9 given at price 940 Achieved 1st Target 946. Made Exact high 946. Total profit of 6 Points x 2 lot = 12 Points in Free Lead tipsTIPS ID 7c9 : Nickel Tips – BUY Nickel at CMP 940 for Target Small at 946 – 951 with Small SL below price 933.50. Trade with 2 lotsAFTER POST CONTENT Read More
Lead Intraday – Lead BUY Call 7d4 given at price 156.10 Achieved 1st Target 157 (Made 157.20 high 04:42pm) Total profit of 0.90 x 2 lot = 1.8 PointsTIPS ID 7d4 : Mcx Lead - BUY Lead at CMP 156.10 for Target 157 - 157.80 with SL below price 155AFTER POST CONTENT Read More
Considering outside market forces such as dollar strength and higher U.S. equity pricing, gold pricing has held up rather well. In an environment which strongly favors the risk-on asset class over the safe-haven class, gold has traded with a higher daily low for the last four consecutive trading days. Today’s trading range was modest, but pricing did trade to a more elevated high than it did...Read More
FAIRFAX, Va. (Reuters) - U.S. interest rates have room to rise further given the remarkable strength of the U.S. economy, the Federal Reserve’s newest regional Fed president said on Monday in his first major speech on monetary policy since he was appointed.“Monetary policy is still pretty accommodative...when unemployment is low and inflation is effectively at our target, we probably o...Read More
NEW YORK (Reuters) - The dollar rose to fresh 2018 highs on Monday while oil prices surged to their highest since late 2014, driven by declining Venezuelan crude production and worries the Unites States could re-impose sanctions on Iran.The crude surge lifted energy stocks in Europe and on Wall Street, with European shares supported by strong results and gains in Nestle after the Swiss company agr...Read More
Zinc Call – SELL Zinc at CMP 206.70 for Target 205.50 – 205 with Small SL Above price 207.25AFTER POST CONTENT Read More
FAIRFAX, Va (Reuters) - The U.S. economy is remarkably strong but the strong jobs market is not causing outsized wage pressures, the Federal Reserve’s newest regional Fed president said on Monday in his first major speech on monetary policy since he was appointed.“The economy’s performance as we sit here today is remarkably strong: above trend growth, low unemployment, inflation...Read More