SHANGHAI, May 2 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index broke 92 amid upbeat data on the US economy and hovered at 92.4 overnight.Most LME metals fell with stronger US dollar. LME zinc led the decline with a loss of 1.6%, copper lost 0.87% and hit a monthly low at one point.China’s official manufacturing...Read More
The latest news and price moves to start the Asian day on Wednesday May 2. Base metals on the London Metal Exchange were split at the close of trading on Tuesday May 1, with copper, zinc and lead ending the day lower due to pressure from a stronger dollar index. Read more in our live futures report.Here are how prices looked at Tuesday's close:Spot zinc concentrate treatment charges...Read More
The latest news and price moves to start the Asian day on Wednesday May 2. Base metals on the London Metal Exchange were split at the close of trading on Tuesday May 1, with copper, zinc and lead ending the day lower due to pressure from a stronger dollar index. Read more in our live futures report.Here are how prices looked at Tuesday's close:Spot zinc concentrate treatment charges...Read More
The latest news and price moves to start the Asian day on Wednesday May 2. Base metals on the London Metal Exchange were split at the close of trading on Tuesday May 1, with copper, zinc and lead ending the day lower due to pressure from a stronger dollar index. Read more in our live futures report.Here are how prices looked at Tuesday's close:Spot zinc concentrate treatment charges...Read More
Base metals on the London Metal Exchange were split at the close of trading on Wednesday May 2, with aluminium and nickel prices climbing more than 2%. Aluminium's three-month price made the largest gains over the afternoon, reaching a high of $2,330 per tonne and closing 2.6% higher. Despite continued volatility, the price has held above $2,200 per tonne.News today of the United States' extension...Read More
Metals market veteran Michael Hutchinson has joined the board of Switzerland-based Tiberius group as non-executive chairman, Tiberius told Metal Bulletin on Wednesday May 2. "Mike is an experienced and very successful metal man who will help us achieve our ambitious growth targets," Chris Eibl, founder and chief executive office of Tiberius, said. "He has tremendous amounts of knowledge in all are...Read More
Refining charges (RC) for blister copper, a substitute for copper scrap in refined production, fell in April following a drop in scrap imports into China. Metal Bulletin assessed RCs for 98-99% blister copper on a cif China basis at $225-245 per tonne on Monday April 30, down $5 month on month, with several spot deals of African tonnages settled within the range. A cif Shanghai blister copper...Read More
Refining charges (RC) for blister copper, a substitute for copper scrap in refined production, fell in April following a drop in scrap imports into China. Metal Bulletin assessed RCs for 98-99% blister copper on a cif China basis at $225-245 per tonne on Monday April 30, down $5 month on month, with several spot deals of African tonnages settled within the range. A cif Shanghai blister copper...Read More
Cobalt prices fell on Wednesday May 2 for the first time since October, with the potential bullish impact of legal action against Glencore by Dan Gertler insufficient to offset greater competition to secure spot sales in the immediate term. Metal Bulletin assessed low-grade cobalt prices at $43.50-44.25 per lb in-warehouse on Wednesday, down 0.5% from $43.70-44.45 per lb previously. High...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The Turkish deep-sea scrap import market remained quiet on Wednesday May 2, after a break for public holidays in Turkey and across much of Europe on May 1, but steel mills were still expected to book more cargoes for May delivery.Turkish steel mills have booked more than 20 deep-sea cargoes for May delivery so far, and more cargoes are expected to be bought in the next few days, according to marke...Read More
Refining charges (RC) for blister copper, a substitute for copper scrap in refined production, fell in April following a drop in scrap imports into China. Metal Bulletin assessed RCs for 98-99% blister copper on a cif China basis at $225-245 per tonne on Monday April 30, down $5 month on month, with several spot deals of African tonnages settled within the range. A cif Shanghai blister copper...Read More
Holidays in Turkey and across much of Europe for the traditional May 1 Labor Day meant that there was little change in prices for Turkish imports of deep-sea scrap from European and US suppliers, sources said on Tuesday May 1.Renewed business activity is expected later in the week when traders return to work, they added.Market sentiment is cautious about how much more prices may increase in the ne...Read More
Comex copper prices bounced-back Wednesday morning in the US with the complex oversold after a five-day rout.Copper for July settlement on the Comex division of the New York Mercantile Exchange recovered 3.05 cents - or 1% - to $3.0680 per lb. "We are seeing a slight bounce in metals prices today, partly...Read More
Base metals prices on the London Metal Exchange were for the most part firmer on the morning of Wednesday May 2, with five of the six base metals showing gains averaging 0.6%, while tin bucked the trend with a 0.1% decline. Copper led on the upside with a 1% gain to $6,816 per tonne.Volume on the LME has rebounded with the return of Chinese participants following public holidays in China on Monday...Read More
Cobalt prices fell on Wednesday May 2 for the first time since October, with the potential bullish impact of legal action against Glencore by Dan Gertler insufficient to offset greater competition to secure spot sales in the immediate term. Metal Bulletin assessed low-grade cobalt prices at $43.50-44.25 per lb in-warehouse on Wednesday, down 0.5% from $43.70-44.45 per lb previously. High...Read More
Domestic prices for cold-rolled coil (CRC) in Europe have been largely stable over the past week, sources told Metal Bulletin on Wednesday April 25.The market has been in "wait-and-see" mode with participants waiting for a final decision from the United States about its Section 232 import tariffs and an expected announcement arising from a safeguard case in the EU, sources said."There is a little...Read More
Domestic prices for hot-rolled coil (HRC) in Southern Europe have fallen slightly this week, sources told Metal Bulletin on Wednesday May 2, although the direction in which prices are moving is not entirely clear because the market has been slowed by holidays in Europe early in the week.Domestic prices remained under pressure, with end-users still resisting price rises from distributors because th...Read More
Domestic prices for heavy steel plate in Europe have moved up slightly this week despite a slowdown in market activity, sources told Metal Bulletin on Wednesday May 2."The market is slow because there were [public] holidays in Europe at the beginning of the week, but demand is going to rebound next week," an Italian source said.Plate prices are expected to be supported by a recovery in restocking...Read More
South American steelmaker Gerdau's Peruvian subsidiary, Siderper??, has reported a near four-fold increase in its net profit for the first quarter of 2018, amid higher prices and increased shipment volumes.Its net profit totaled 42.40 million nuevos soles ($13 million), against 11.01 million nuevos soles a year before, it said in a note sent to national securities...Read More