Last week’s great rally in gold is just a memory as gold heads back down to its support level. The excitement from gold heading higher every day last week has now turned into the fear that it may go back to the lower end of the range.Gold was lower on Tuesday and is lower again overnight into Wednesday morning. The congestion period is always the toughest for traders, as the markets have a l...Read More
SHANGHAI, Mar 28 (SMM) – Zinc prices are likely to stay rangebound with pressure as downstream consumption is recovering slower while ore supply was sufficient, SMM believes.China’s domestic consumption is affected as another round of cutback has been imposed to galvanising plants in north China earlier this week. The move was in response to the medium-to-high level of air po...Read More
The latest news and price moves to start the Asian day on Wednesday March 28.Aluminium and nickel bucked the trend of mostly higher base metals prices on the London Metal Exchange on Tuesday March 27. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex copper prices recovered Tuesday morning in the United States after collapsing the prev...Read More
The latest news and price moves to start the Asian day on Wednesday March 28.Aluminium and nickel bucked the trend of mostly higher base metals prices on the London Metal Exchange on Tuesday March 27. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex copper prices recovered Tuesday morning in the United States after collapsing the prev...Read More
The latest news and price moves to start the Asian day on Wednesday March 28.Aluminium and nickel bucked the trend of mostly higher base metals prices on the London Metal Exchange on Tuesday March 27. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex copper prices recovered Tuesday morning in the United States after collapsing the prev...Read More
A shortage of crude indium material is pushing prices higher, market participants have told Metal Bulletin.Metal Bulletin assessed the free-market price of indium at $330-360 per kg on an in-warehouse basis on Wednesday March 28, up from $320-350 in the previous assessment last Friday."Our purchase department complains that it is difficult to locate crude indium although they have called nearly al...Read More
Base metals prices on the London Metal Exchange ended higher at the close of trading on Wednesday March 28, with only aluminium trading lower. The three-month nickel price was the biggest mover, rising $130 per tonne and recovering back above $13,000 per tonne. The metal is being buoyed by a tight market and low stocks. "Total LME stocks have had very little inflow and edged lower to 322,236 tonne...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 27.Please click...Read More
Metal Bulletin has gathered some of the major talking points from its 19th Asian Ferro-Alloys conference in Hong Kong on March 20-22. 1. Demand for steel and ferro-alloys will come from India, Russia, OBOR and Southeast Asia "From my point of view, market means population. China [has a population of] 1.4 billion people," Mark Shujun Ma, chairman and chief executive officer of metals technology and...Read More
A shortage of crude indium material is pushing prices higher, market participants have told Metal Bulletin.Metal Bulletin assessed the free-market price of indium at $330-360 per kg on an in-warehouse basis on Wednesday March 28, up from $320-350 in the previous assessment last Friday."Our purchase department complains that it is difficult to locate crude indium although they have called nearly al...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Turkish steel producers have returned to the deep-sea scrap markets after two weeks of silence but prices remained largely stable with the news of a European transaction heard on Wednesday March 28.A steel mill in the Marmara region booked a European cargo, comprising 5,000 tonnes of HMS 1&2 (75:25), 20,000 tonnes of shredded and 5,000 tonnes of bonus at an average price of $375 per tonne cfr.Meta...Read More
Comex copper prices once again saw selling pressure during midweek trading on Wednesday March 28 with a stronger dollar weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 1.10 cents or 0.4% to $2.9905 per lb. The contract has been volatile over the past few weeks, with prices recently hitting a six-month low....Read More
Base metals prices on the London Metal Exchange are down across the board by an average of 0.6% this morning, Wednesday March 28. Losses are bunched together between 0.9% for lead and 0.3% for aluminium, with copper off by 0.7% at $6,613 per tonne.Volume has been average with 7,833 lots traded as of 07:47 am London time. Although prices are lower, most of the metals seem to be trying to consolidat...Read More
European mills are expected to use the region's newly launched safeguard case into steel import to increase their prices for hot-rolled coil (HRC), market sources told Metal Bulletin on Wednesday March 28.The European Commission (EC) launched the safeguard investigation into 26 steel product types on March 26 in an attempt to prevent the redirection of steel in the global export markets from the U...Read More
Domestic prices for heavy steel plate in Europe have been under pressure because of slow trading activity, sources told Metal Bulletin this week.Metal Bulletin's assessment of prices for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?570-580 ($708-720) per tonne ex-works for the week ended Wednesday March 28, compared with ?,?580-590 per tonne ex-works a week earlier."Prices are...Read More
China's hot-rolled coil prices maintained their upward momentum on Wednesday March 28 on early gains in the paper market.DomesticEastern China (Shanghai): 3,760-3,800 yuan ($599-605) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,740-3,760 yuan per tonne, up 20-30 yuan per tonneSpot prices increased after HRC futures surged at the start of the day. But when the paper market started...Read More
Domestic prices for steel beams have moved downward by ?,?5 per tonne across Europe for a second week with trading remaining thin, market sources told Metal Bulletin on Wednesday September 28."There was no enough demand to fill up the mills' rolling schedules so we have seen a lower price," one distributor said."There was a bit of a reduction compared with last month. In February, scrap prices wen...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Europe remained unchanged this week, with market activity expected to rise after the Easter holiday, sources said on Wednesday March 28.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe was unchanged on Wednesday at ?,?550-560 ($683-696) per tonne delivered."The recent bad weather has m...Read More
Prices for domestic steel hollow steel sections in Southern Europe have fallen by ?,?5-15 per tonne because mills are suffering from low demand, market sources said on Wednesday March 28."We are seeing a small number of offers at the moment, because of the uncertainty in the market. It may be that some suppliers have become nervous, seeing their order intake down in March," one Southern European p...Read More