Prices for containerized shredded scrap imports into India moved downward again this week despite trading conditions improving by the end of the period, market sources told Metal Bulletin on Friday April 13.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $381.27 per tonne cfr Nhava Sheva on April 13, down by $4.72 per tonne week-on-week, compared with $385....Read More
The UK inter-merchant price range for austenitic alloy steel products narrowed upward by ?10 per tonne this week as the price of nickel rose sharply, sources said on Friday April 13.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-980 ($1,349-1,392) per tonne delivered on Thursday, compared with ?940-980 per tonne on April 6.The London Metal Excha...Read More
Turkish steel mills skipped the deep-sea market with no purchases on Friday April 13, but are still expected to book more cargoes for May, according to market sources.Steelmakers in the country have booked four deep-sea cargoes so far this week and market participants expected them to continue with their raw materials procurement."The...Read More
Export prices for Brazilian pig iron were unchanged this week, amid reduced product availability to shipment to foreign markets after a pick-up in domestic demand.Metal Bulletin's weekly price assessment for Minas Gerais-origin pig iron exports was stable week on week on Friday April 13, at $395-400 per tonne fob.Offers for the steelmaking raw material produced in Brazil's south-eastern Minas Gera...Read More
Comex copper prices rebounded in the US morning on Friday April 13 amid growing optimism that seasonal demand trends will continue to support the red metal throughout 2018. Copper for May settlement on the Comex division of the New York Mercantile Exchange rose 2.05 cents or 0.7% to $3.0840 per lb. Trade has ranged from $3.0525 to $3.0925. The red metal has been unable to establish a firm price di...Read More
Shanghai Futures Exchange zinc prices could see further downside after rumors that China's State Reserve Bureau (SRB) was about to sell 50,000-60,000 tonnes of the metal, market participants told Metal Bulletin.The most-traded SHFE June contract dipped as low as 23,255 yuan ($3,699) per tonne on Thursday April 12, its lowest level since August 7, 2017. The contract closed at 23,515 yuan...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday April 13* Copper -$59.06 (- 372.13 yuan) Aluminium -$525.53 (-3,311.27 yuan) Zinc -$48.05 (-302.75 yuan) Nickel -$612.81 (-3,861.17 yuan) *The physical arbitrage numbers are calculated daily...Read More
Seaborne iron ore prices rebounded on Friday April 13 to the $65-per-tonne-cfr mark amid gains in China steel and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $64.96 per tonne cfr Qingdao, up by $0.49 per tonneMetal Bulletin 58% Fe Premium Index: $52.37 per tonne cfr Qingdao, up by $0.11 per tonneMetal Bulletin 65% Fe Iron Ore Index: $82.20 per tonne cfr Qingdao, up by $0.5...Read More
The ample availability of seaborne coking coal has given Chinese buyers the edge in the spot market, with prices experiencing a gradual decline as underlined by recent transactions, participants said.A cargo of premium hard coking coal was heard to have been traded at around $201 per tonne cfr China on Friday April 13, sources told Metal Bulletin. This joins other transactions in the top-tier segm...Read More
The following Metal Bulletin minor metals prices changed on Friday April 13:Minor metalsBismuth MB free market, $/lb: $5.10-5.35 per lb from $5.10-5.30 per lbBismuth MB China domestic, yuan/tonne: 68,000-69,000 yuan per tonne from 69,000-70,000 yuan per tonneCobalt tetroxide min 72.6% Co, yuan/tonne: 485,000-515,000 yuan per tonne from 510,000-520,000...Read More
Simon Boon, Sovereign International Metals and Alloys vice president, has been elected as chairman of the Minor Metals Trade Association (MMTA) at its annual general meeting. Boon was voted into the position on Thursday April 12. James Peer stepped down as chairman after serving three years in the...Read More
An overview of China's minor metals markets in the week of April 9-13 and the reasons for any price moves.Read More
The latest metal markets news and price moves to start the North American day on Friday April 13. Aluminium on the London Metal Exchange continues to trade at six-year highs during morning trading today, following a large cancelation in Asian warehouses.108,000 tonnes of aluminium have been freshly canceled in Port Klang this morning which is providing more support for prices, but stockpiles in Eu...Read More
Bargain hunting has returned to the base metals complex in the morning of Friday April 13, lifting prices on the London Metal Exchange by 0.6% on average. Trade tensions between the United States and China have relaxed in recent days after Chinese President Xi Jinping struck a conciliatory tone in a keynote speech. Meanwhile, US President Trump has toned down his rhetoric on military intervention...Read More
The base price assessments for flat stainless steel products in Europe narrowed downward by ?,?10 per tonne this week due to continued pressure from cheap imports, sources told Metal Bulletin on Friday April 13.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet was ?,?1,050-1,100 ($1,296-1,357) per tonne delivered in Northern Europe on Friday, c...Read More
China's domestic stainless steel prices remained in a downward trend over the past week due to the high selling interest among stockists.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 13,700-14,500 yuan ($2,179-2,306) per tonne including VAT for the week ended Thursday April 12, down 300 yuan per tonne from last Wednesday. Stockis...Read More
European secondary aluminium prices have risen for the first time in over two months following a week of market unrest, limited availability and strong London Metal Exchange prices. Metal Bulletin's assessment of secondary aluminium 226 diecasting ingot prices climbed to ?,?1,770-1,810 ($2,184-2,233) per tonne on Friday April 13, up from ?,?1,740-1,790 per tonne on April 6. "This has been the...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday April 13:Aluminium scrapFloated Frag: ?,?1,265-1,285 per tonne from ?,?1,255-1,275Cast: ?,?1,170-1,230...Read More
ArcelorMittal has told the European Commission (EC) it plans to sell-off a raft of its European flat steelmaking assets to seal its acquisition of Italian producer Ilva, the company said on Friday April 13.ArcelorMittal is proposing to sell all of the assets, and not simply a selection of them, a company spokesman confirmed to Metal Bulletin on Friday.Any sales would be conditional upon completion...Read More
ZINC Call – BUY Zinc at CMP 202.75 Add more if price 201.80 for Target 204.60 with SL below price level 200.50 (MODIFIED) (CARRY CALL)AFTER POST CONTENT Read More