Comex copper jumped to a month high on Wednesday April 18 amid an increase in technical buying and after China eased its monetary policy. Copper for May settlement on the Comex division of the New York Mercantile Exchange jumped 8.95 cents or 2.9% to $3.1680 per lb. Earlier, the contract touched $3.1785, the highest point since March 14. "The positive macro backdrop has provided the LME copper pri...Read More
Zinc ingot premiums dipped on a delivered basis in Italy and remain flat elsewhere in Europe, in Asia and in the United States on Tuesday April 17; meanwhile the lead market is eyeing cargoes from key exporter Iran, where the fallout of a currency crisis there is limiting shipments from the country. Delivered zinc premiums drop in Italy Lead market eyes currency crisis, exports from Iran Pr...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Nickel prices on the London Metal Exchange are trading at their highest since December 2014, with concerns about further sanctions fuelling a significant rally. Nickel prices on the London Metal Exchange are trading at their highest since December 2014, with concerns about further sanctions fueling a significant rally, sources said. The three-month price rocketed to $15,875 per tonne in early afte...Read More
Comex copper jumped to a month high on Wednesday April 18 amid an increase in technical buying and after China eased its monetary policy. Copper for May settlement on the Comex division of the New York Mercantile Exchange jumped 8.95 cents or 2.9% to $3.1680 per lb. Earlier, the contract touched $3.1785, the highest point since March 14. "The positive macro backdrop has provided the LME copper pri...Read More
Cash-strapped zinc smelters in China have brought forward and extended their planned maintenance to avoid further squeezes to margins as a result of softer treatment charges (TC), tight concentrate supply and low zinc prices, multiple sources told Metal Bulletin. "We have been hearing some southern China smelters calling for earlier maintenance due to a strained cash flow," a major zinc producer s...Read More
Private equity funds are looking to capitalize on gaps in the copper supply pipeline by investing in small-scale mining projects, Pala investments managing partner Stephen Gill told Metal Bulletin.In an interview during the Cesco Copper Week in Santiago, Chile, Gill said that copper miners face a series of obstacles in bringing large-scale mine supply into production and that a lack of capital exp...Read More
Brazilian flat steel producer Usiminas expects to reduce its purchases of third-party slab volumes after the resumption of operations at its No1 blast furnace at Ipatinga, in the country's south-eastern Minas Gerais state.The company plans to increase production of finished steel products at the Ipatinga facility, thus allowing it to reduce flat steel output at its Cubat??o works, which is current...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Southern Europe have widened downward week-on-week, with Italian mills adjusting their offers amid low Turkish import prices, sources said on Wednesday April 18.Southern European domestic prices for mesh-quality wire rod widened downward by ?,?10 per tonne over the week to ?,?530-560 ($656-693) per tonne delivered on April 18, com...Read More
Prices for rebar produced and delivered in Northern Europe have weakened by ?,?5-10 per tonne over the past week, with activity remaining subdued, market participants told Metal Bulletin on Wednesday April 18.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe fell to ?,?540-560 ($668-693) per tonne delivered on Wednesday, compared with ?,?545-570 per tonne delivered on...Read More
Prices for domestic hollow sections remain unchanged in Northern and Southern Europe over the week although mills were pushing for price increases, sources told Metal Bulletin on Wednesday April 18.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Southern Europe was unchanged week-on-week at ?,?620-655 ($767-810) per tonne delivered on A...Read More
Domestic prices for steel beams were unchanged in both Southern and Northern Europe this week with the market showing mixed sentiment toward plans by mills to increase their prices, sources told Metal Bulletin on Wednesday April 18.Metal Bulletin's price assessment for S235-grade, 200x200mm category-2 H-beams made in Northern Europe remained flat week-on-week at ?,?600-620 ($742-767) per tonne del...Read More
Key data from the Wednesday April 18 pricing session in Europe. Key drivers - The ferro-titanium spot market has edged up in its trading range. More than 300 tonnes of alloy was reported to have been traded. - Ferro-titanium spot sales of about 410 tonnes were reported, with most at or above $5 per kg delivered duty paid. Traders seem to be more aggressive below that level on their offer prices. -...Read More
The following Metal Bulletin minor metals prices changed on Wednesday April 18:Antimony MB free market regulus, $/tonne: $8,350-8,450 per tonne from $8,450-8,550 Antimony MMTA standard grade II, $/tonne: $8,300-8,450 per tonne from $8,400-8,550 Cadmium MB free market min 99.95%, cents/lb: 150-160 cents per lb from 155-160 centsCadmium MB...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday April 18:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.75-12.00 per lb from $11.90-12.50 Ferro-molybdenum MB Chinese...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Wednesday April 18. Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Wednesday after the generally positive Chinese data released yesterday failed to motivate investors to chase prices higher.Meanwhile, aluminium succumbed to profit-taking...Read More
Tshipi sold 3.34 million tonnes of manganese ore in the twelve months to February 28, 2018, the manganese miner has announced.The figure represents a 47% increase in volume compared with the previous year. Tshipi, which became South Africa's largest manganese miner by export volumes in 2017, made a net profit of 1.9 billion South African rand ($158 million) in the year to February 28, compared wit...Read More
Shares in Jupiter Mines Ltd commenced trading on the Australian Securities Exchange on Wednesday April 18 following the completion of its A$240-million ($186-million) initial public offering (IPO).The shares commenced trading at A$0.40 per share, giving Jupiter a market capitalization of A$779 million. The IPO, which was significantly oversubscribed, was one of the largest in the resources sector...Read More
Brazil's exports of pig iron may exceed 3 million tonnes in 2018, mainly because of higher shipment volumes out of the south of the country, where local forests make charcoal-making possible, Metal Bulletin has learnt.Independent producers in Brazil use charcoal in the pig iron production process.In 2017, Brazil exported around 2.3 million tonnes of pig iron, according to the International Steel S...Read More
Prices for ferrous scrap exports from the United States were mixed this week, with those for bulk exports falling in two fresh cargo sales from the East Coast to Mexico and Turkey while containerized heavy melt pricing on the West Coast inched upward due to rebounding demand from Asia. Turkey returned to the US ferrous scrap export market on April 18 after being absent for weeks, booking a ca...Read More