Base metals prices on the London Metal Exchange dropped throughout the day on Wednesday April 4, with sentiment remaining low after US-China trade tensions escalated. The majority of the complex ended the LME kerb session lower, with only aluminium posting a slight increase of 0.6%. LME copper prices have been volatile, trading within a $200 per tonne window but cutting losses to...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The latest metal markets news and price moves to start the North American day on Wednesday April 4. Base metals prices edged lower on the London Metal Exchange during morning trading today, as the prospect of a trade war between the United States and China continued to dampen sentiment. Aluminium's three-month price was the only contract to rise and appeared to be in consolidation mode after dropp...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Wednesday April 4.Base metals prices on the Shanghai Futures Exchange, with the exception of copper and tin, were all lower during Asian morning trading on Wednesday after fears over a global trade war and weak Chinese data dampened market sentiment.On Tuesday, the office of the US Trade R...Read More
Aluminium ingot ADC 12 export prices fell after China dealt a serious blow to the raw material market with a blanket 25% tariff on US aluminium scrap.The move by China has meant that more domestic producers are looking to tolling deals to avoid paying the 25% import tax. Under the tolling deals, Chinese secondary alloy producers can import raw materials such as aluminium scrap from overseas and pr...Read More
With a widening differential between Chinese domestic and international alumina prices and lingering tightened availability of spot material in the Atlantic, China could potentially become an exporter of the raw material, according to market participants.Foreign aluminium smelters now have an eye on Chinese-produced alumina due to the tightened conditions in the Atlantic following the production c...Read More
Base metals prices on the London Metal Exchange dropped throughout the day on Wednesday April 4, with sentiment remaining low after US-China trade tensions escalated. The majority of the complex ended the LME kerb session lower, with only aluminium posting a slight increase of 0.6%. LME copper prices have been volatile, trading within a $200 per tonne window but cutting losses to...Read More
Comex copper prices dropped nearly 2% on Wednesday April 4 amid growing fears of a possible trade war between the United States and China following a fresh round of tariffs issued by both countries. Copper for May settlement on the Comex division of the New York Mercantile Exchange tumbled 5.90 cents or 1.9% to $3.0045 per lb. Over the past few weeks, tensions between China and the US have escalat...Read More
The seaborne iron ore market softened further on Wednesday April 4 amid falling steel prices in China, with premiums for index-linked cargoes of Pilbara Blend fines remaining subdued. Metal Bulletin 62% Fe Iron Ore Index: $63.57 per tonne cfr Qingdao, down by $0.19 per tonneMetal Bulletin 58% Fe Premium Index: $51.79 per tonne cfr Qingdao, down by $0.30 per tonneMetal Bulletin 65% Fe Iron Ore Inde...Read More
Prices for hollow steel sections in Southern Europe have fallen by ?,?5-15 per tonne this week with producers continuing to look for orders, market sources said on Wednesday April 4.A low volume of completed sales of hollow sections on the spot market has led Southern European producer sources to lower their price expectations in recent weeks."Producers in Italy are more keen to get orders than th...Read More
The Trump administration's planned 25% tariffs on Chinese products likely won't have a major impact on electric vehicle (EV) producers in the United States.The proposed tariff list, which was released on Tuesday April 3, contains 1,300 items that the US is targeting with an import tax following its Section 301 investigation. American companies now have the opportunity to provide feedback on the pr...Read More
Zinc and lead premiums were largely unchanged this week, with market attention on forward spreads, which have turned once again to backwardation. Zinc premiums remain unchanged globallySpreads return to backwardation, could pressure premiumsLead rates unchanged Premiums for Special High Grade zinc ingots remain unchanged in Asia, Europe and the United States this week, but the market is keeping a...Read More
China will cut value-added tax (VAT) on all imported goods by 1 percentage point, 5.9%, effective from May 1, the Finance Ministry and State Administration of Taxation said in a filing late on Wednesday April 4. China currently applies two VAT rates for different products; 17% for almost all products and 11% for some products, including agriculture. The rates will be...Read More
In a comprehensive interview with Andrea Hotter in the April 2018 issue of Metal Market Magazine, Norilsk Nickel chairman Gareth Penny gave his predictions for electric and hybrid vehicle growth and how the company will move to maximize the value of its products. As the electrification of the global economy continues to increase demand for the metals that Norilsk produces, particularly nickel and...Read More
The European Non-Integrated Wire Rod Processors Association (Eunirpa) has expressed concerns about the recent safeguard investigation on imports of steel from all non-EU origins, it said on Wednesday April 4.Eunirpa fears the investigation will further intensify the wire rod shortage and the growing squeeze on margins that continue to severely affect independent wire rod processors.The association...Read More
Domestic prices for hot-rolled coil (HRC) have been stable this week as end users resist higher prices and continue to buy cheaper material from stocks, market sources told Metal Bulletin on Wednesday April 4."End users have not fully transferred current coil prices into the finished products prices," a representative from a Northern European mill said. "As a result, steel distributors and stock h...Read More
Prices for domestic steel beams have weakened across Europe for a third consecutive week with low buying activity inflating inventories at mills, market sources said. Metal Bulletin's price assessment for S235-grade, 200x200mm category-2 H-beams made in Northern Europe widened downward to ?,?600-615 ($737-756) per tonne delivered on Wednesday April 4, compared with ?,?600-625 per tonne delivered o...Read More
Iranian exporters of semi-finished steel products came back to the market after the Persian new year holiday late last month with price reductions that followed the trend in the wider global markets.Metal Bulletin's weekly price assessment for Iranian billet exports decreased to $500-515 per tonne fob on Wednesday April 4, from the previous range of $515-530 per tonne fob.Local producers Khouzesta...Read More
Prices for rebar produced and delivered in Northern Europe have remained unchanged over the past week, with market activity relatively quiet, market participants told Metal Bulletin on Wednesday April 4."Prices are stable but we expect market demand to rise because the second quarter [of the year] is normally the best quarter in terms of construction activity," one Northern Europe producer source...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday April 4:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.40-12.55 per lb from $12.60-12.70 per lbFerro-molybdenum basis 65% min, in-warehouse Rotterdam,...Read More