Copper miner Antofagasta is evaluating two options for expansion of its Centinela copper operations in Chile, and will approve one by the end of the year, the company's chief executive officer told Metal Bulletin.Expansion is part of a plan to use the company's capital for growth in a disciplined manner and to ensure that Antofagasta maximizes the returns on its investment, Iv??n Arriagada said du...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Huayou New Energy, a full subsidiary of Huayou Cobalt, and LG Chem will invest in two joint ventures in Quzhou and Wuxi, China, respectively, to produce lithium-ion battery materials, according to a statement filed on the Shanghai Stock Exchange on Tuesday April 10.With a total investment of $159 million, Huajin New Energy Materials Co., Ltd will be located in Quzhou, Zhejiang province, and will b...Read More
Turkish steel mills resumed their deep-sea scrap purchases on Wednesday April 11, with slightly lower prices from Baltic Sea suppliers.A steel producer in the Izmir region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $352 per tonne and bonus at $362 per tonne cfr on Wednesday.The supplier said that they are still discussing the tonnages with the mill, but the cargo was scheduled for th...Read More
Comex copper prices failed to maintain momentum on Wednesday April 11 morning in the US, with the recent gains prompting a round of technical selling amid continued global unrest.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents or 0.3% to $3.1275 per lb, after the contract hit a three-week high yesterday."The LME copper price is consolidating we...Read More
Copper miner Antofagasta is evaluating two options for expansion of its Centinela copper operations in Chile, and will approve one by the end of the year, the company's chief executive officer told Metal Bulletin.Expansion is part of a plan to use the company's capital for growth in a disciplined manner and to ensure that Antofagasta maximizes the returns on its investment, Iv??n Arriagada said du...Read More
Base metals prices on the London Metal Exchange are consolidating this morning, Wednesday April 11, following a strong recovery in the previous session.Copper and nickel were down by 0.5% and 0.4% respectively at the time of writing, while the rest were mostly unchanged - the exception being tin which was up by 0.5% at $21,030 per tonne.Volumes traded were somewhat lighter than usual, with 5,647 l...Read More
Domestic prices for hot-dipped galvanized coil (HDG) in the EU were unchanged this week, sources told Metal Bulletin on Wednesday April 11.The HDG market sector is following a trend similar to that seen in the hot-rolled coil (HRC) and cold-rolled coil (CRC) markets, where prices were stable while buyers slowly returned to the markets for re-stocking, according to market sources."Prices are likely...Read More
Domestic prices for cold-rolled coil (CRC) in Europe have been stable over the past week despite slow market activity, sources told Metal Bulletin on Wednesday April 11.Market activity has been slow because distributors are more focused on selling material from stock than on making new deals with mills.The distributors are expected to start re-stocking by the end of this month, according to market...Read More
Turkish pipe export prices have gone down slightly this month, in line with weak demand for such products and falling costs for pipe-making raw materials, sources said on Wednesday April 11.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $675-685 per tonne fob on April 11, down from last month's...Read More
European mills producing hollow sections are unhappy with current pricing and intend to issue higher offer prices over the next few weeks, market sources told Metal Bulletin on Wednesday April 11."The development of tube prices does not match that of flat steel," one Southern European producer said."None of the pipemakers are happy with the current situation. They're all confronted with higher coi...Read More
Prices for domestic steel beams picked up slightly in Northern Europe this week following three consecutive weeks of falls, although market activity remained low, sources told Metal Bulletin on Wednesday April 11.Metal Bulletin's price assessment for S235-grade, 200x200mm category-2 H-beams made in Northern Europe edged up to ?,?600-620 ($740-765) per tonne delivered on Wednesday April 11, compare...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Europe went unchanged this week, with demand at mills remaining healthy, sources said on Wednesday April 11.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe was unchanged on Wednesday at ?,?550-560 ($679-691) per tonne delivered.One European mill intends to raise prices for all...Read More
Turkish steel mills resumed their deep-sea scrap purchases on Wednesday April 11, with slightly lower prices from Baltic Sea suppliers.A steel producer in the Izmir region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $352 per tonne and bonus at $362 per tonne cfr on Wednesday.The supplier said that they are still discussing the tonnages with the mill, but the cargo was scheduled for th...Read More
Physical iron ore prices softened on Wednesday April 11 amid a retreating futures market in China.Metal Bulletin 62% Fe Iron Ore Index: $64.79 per tonne cfr Qingdao, down by $0.51 per tonneMetal Bulletin 58% Fe Premium Index: $52.51 per tonne cfr Qingdao, down by $0.24 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, down by $1 per tonneMetal Bulletin 62% Fe China Port...Read More
China's focus on environmental protection continues to affect miners producing low-grade iron ore that have had to offer price discounts on their products, though some believe that Chinese mills' narrowing margins could alter market dynamics. On Monday April 9, Australia's Atlas Iron announced its acquisition by compatriot miner Mineral Resources.The acquisition follows Atlas's plans to increase t...Read More
Buying activity in the Iranian export market for steel billet was muted in the week ended Wednesday April 11 amid reduced demand for finished steel products in customers' markets as well as expectations of further price decreases in the near term.Metal Bulletin's weekly price assessment for Iranian billet exports fell to $495-505 per tonne fob on April 11, from the previous range of $500-515 per t...Read More
Stainless steel prices in Asia are likely to remain bearish on expectations of continued low demand in the second quarter of the year, while prices in North America are likely to be supported by the Section 232 import tariffs in the United States.Asian outlook bearishEast Asian import prices for stainless steel are likely either to decline further or to hold relatively steady at low levels during...Read More
European mills producing hollow sections are unhappy with current pricing and intend to issue higher offer prices over the next few weeks, market sources told Metal Bulletin on Wednesday April 11."The development of tube prices does not match that of flat steel," one Southern European producer said."None of the pipemakers are happy with the current situation. They're all confronted with higher coi...Read More
Turkish pipe export prices have gone down slightly this month, in line with weak demand for such products and falling costs for pipe-making raw materials, sources said on Wednesday April 11.Metal Bulletin's monthly price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, was $675-685 per tonne fob on April 11, down from last month's...Read More