Turkish rebar export prices continued to slip on sluggish demand in the country's major export destinations, while wire rod export prices have remained stable over the past week, sources said on Thursday April 12.Metal Bulletin's weekly price assessment for rebar exports out of Turkey was $560-565 per tonne fob on an actual weight basis, narrowing downward from last week's $560-570 per tonne.There...Read More
Domestic rebar prices in Egypt fell this week while demand remained low, sources told Metal Bulletin on Thursday April 12.The country's biggest producer, Ezz Steel, is currently offering rebar at E ?12,528 ($708) per tonne ex-works, including 14% VAT, down from E ?12,790 per tonne ex-works.Beshay Steel, also a major domestic producer, is offering rebar at...Read More
The latest metal markets news and price moves to start the North American day on Thrusday April 12.Aluminium prices on the London Metal Exchange dipped for the first time this week during morning trading on Thursday April 12, following a 101,725-tonne delivery into European LME-listed warehouses.The delivery was split between Rotterdam and Vlissingen, with 68,150 tonnes delivered into Rotterdam. T...Read More
Key data from Metal Bulletin's Wednesday April 11 pricing session in China.Key drivers: - Molybdenum concentrate miners reduced their offer prices to ferro-molybdenum producers to secure deals. - Two big transactions were concluded recently. A 3,200-tonne parcel of molybdenum concentrate (50-55% Mo) was sold for 1,640-1,660 yuan per...Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Thursday April 12.Base metals prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Thursday, with rising geopolitical tensions subduing risk appetite in the market.Geopolitical tensions picked up overnight after United States President Donald Trump mad...Read More
Iron ore prices continued to weaken on Thursday April 12, tracking the decline in China's steel market.Metal Bulletin 62% Fe Iron Ore Index: $64.47 per tonne cfr Qingdao, down by $0.32 per tonneMetal Bulletin 58% Fe Premium Index: $52.26 per tonne cfr Qingdao, down by $0.25 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, unchangedMetal Bulletin 62% Fe China Port Price...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 ore Iron ore Rio Tinto, tender, 210,000 tonnes of 61% Fe Pilbara Blend fines, sold at $63.08 per tonne cfr China, laycan April 25-May 4. Vale, Global Ore,...Read More
The seaborne coking coal market was stable on Thursday April 12 amid an absence of drivers that could spark significant price movements in either direction. "The sentiment at the recently concluded Coaltrans China conference in Beijing suggests that the market should continue to soften over the next 1-2 months," a trader said. "In the premium category, miners and traders have ample cargoes in hand...Read More
India's Vedanta Resources has reported a decline in iron ore production in the first three months of 2018 amid a low pricing environment and court-ordered mine closures.The miner's Goa operations accounted for 1.5 million tonnes of saleable production in the January-March period, a 58% year-on-year drop. Sales from its Goa operations stood at 2.4 million tonnes during the period, up 5% year on yea...Read More
China's ferrous futures continued to retreat across the board on Thursday morning April 12, with the benchmark coking coal and coke contracts leading the way in percentage terms.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,386 ($539) per tonne, down 22 yuan per tonne October hot-rolled coil: 3,477 yuan per tonne, down 20 yuan per tonne Dalian Commodity Exchan...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday April 12* Copper -$142.71 (-898.47 yuan) Aluminium -$499.01 (-3,141.66 yuan) Zinc -$51.32 (-323.09 yuan) Nickel -$612.74 (-3,857.71 yuan) *The physical arbitrage numbers...Read More
Aluminium prices on the London Metal Exchange dipped for the first time this week during morning trading on Thursday April 12, following a 101,725-tonne delivery into European LME-listed warehouses. The delivery was split between Rotterdam and Vlissingen, with 68,150 tonnes delivered into Rotterdam. This is Rotterdam's largest single delivery since July 2014. This comes just a few days after...Read More
Key data from the Wednesday April 11 pricing session in London.Key drivers: - Steady demand in India - Chelyabinsk cancels tender on low bids received; declines to reveal highest bid - Traders say they refrained from aggressively bidding and are worried of exposure to Russia in the backdrop of US sanctions Key quotes: "There...Read More
Base metals traded on the London Metal Exchange experienced downward pressure this morning, Thursday April 12, with the complex posting an average loss of 1.0% amid robust volumes. Zinc is down the most with a 2.3% decline, while tin (-0.1%) is the most resilient.The downward pressure across the industrial metals is being driven by a fragile risk appetite in Asia, evident in domestic equity losses...Read More
Key data from Thursday April 12 pricing session in Shanghai.Key drivers - Indium prices on the Wuxi Stainless Steel Exchange fell to 2,015 yuan ($321) per kg on Tuesday, down from 2,500 yuan per kg in late March, with the softness in futures market dampening sentiment in the physical market.- Spot buying interest has remained low since domestic indium prices...Read More
Import prices for stainless steel in East Asia rose over the past week with Chinese suppliers maintaining their high offers amid costlier nickel, although there was no considerable uptick in demand.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,100-2,230 per tonne cif East Asian ports for the week ended Wednesday April 11, up $20-100 per tonne...Read More
SHANGHAI, Apr 12 (SMM) – SHFE zinc tumbled during the day and touched a low at 23,605 yuan/mt on Thursday April 12 despite better fundamentals since the start of this month.This is mainly because sentiment turned bearish when market talk suggested that China’s State Reserve Bureau may release 50,000-60,000 mt of zinc ingot to be received by some state-owned enterprises.Speculative inve...Read More
SHANGHAI, Apr 12 (SMM) – High-nickel ternary cathode materials are expected to dominate the market by 2025 as demand surges, said research and development manager at Ningbo Ronbay Material, She Shengxian.This is due to its “exceptional performance” in terms of capacity, circulation, discharge rate, and resistance to high temperatures, he told delegates at the SMM CoLiNi Summ...Read More
Mcx Nickel Target Call – Nickel BUY Carry Call 564, given at price 887 Achieved 1st Target 898. Total 11 Point x 2 lot = 22 Points ProfitTIPS ID 564 : Nickel Tips Today – Buy Nickel at CMP 887 with SL below price 880 for Target 898 – 908. Trade with multiple lotsAFTER POST CONTENT Read More
Nickel Tips Today – Buy Nickel at CMP 887 with SL below price 880 for Target 898 – 908. Trade with multiple lotsAFTER POST CONTENT Read More