The United States' bulk ferrous scrap export prices made strong gains in two cargo trades to emerging markets this past week, prompting East Coast exporters to raise dock buying prices ahead of what might be another upswing in domestic scrap pricing. In the first deal, a full cargo of shredded scrap was sold to Bangladesh at $435 per tonne cfr, while a second cargo containing an 80:20 mix of No. 1...Read More
Stainless steel scrap dealers and processors in the United States are keeping prices within a very tight range, expressing little trust in the current market."We are treading water at the moment with no movement in prices in any direction. I don't feel that we are on stable footing, with prices being vulnerable to any economic or political event or non-event that may arise," one major US dealer so...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
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 oreIron oreRio Tinto, tender, 100,000 tonnes of 61% Fe...Read More
Iron ore prices fell further on Wednesday March 28 despite a slight improvement in the Chinese steel market. Metal Bulletin's 62% Fe Iron Ore Index Today: $63.12 per tonne cfr Qingdao Daily change: down by $2.05 per tonne Month-to-date average: $70.47 per otnne Metal Bulletin's 58% Fe Premium Index Today: $52.34 per tonne cfr Qingdao Daily change:...Read More
Prices and trading activity in the iron ore market softened again on Wednesday March 28 despite some improvement in China's steel market.Key driversThe Chinese ferrous futures market was mixed during the day, with the most-traded steel contracts closing slightly higher than the preceding day's settlement prices, while the benchmark contracts for steelmaking raw materials all ended in negative terr...Read More
Both of Metal Bulletin's premium hard coking coal indices, which track prices in the seaborne market, have fallen below $200 per tonne for the first time since November last year.The Metal Bulletin cfr China Premium Hard Coking Coal Index fell $4.16 per tonne on Wednesday March 28 to $198.76 per tonne while the fob Australia index shed $6.57 per tonne to $193.81 per tonne.An offer for a cargo of p...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday March 28*Copper -$90.85 (-571.68 yuan) Aluminium -$362.14 (-2,278.88 yuan) Zinc -$98.69 (-621.03 yuan) Nickel -$465.12 (-2,926.88 yuan) *The physical arbitrage numbers...Read More
Rotterdam tin premiums rose week on week on March 27 concurrent with expectations of Indonesian exports lowering in coming months, while US and China premiums held steady ahead of the upcoming Easter holidays.Rotterdam 99.9% premium rises US and China premiums steady Indonesian exports expected to slow down Rotterdam 99.9% premium up again while Indonesian supply tightness looms The...Read More
The following Metal Bulletin minor metals prices changed on Wednesday March 28:Minor metals Antimony MB free market regulus, $/tonne: $8,500-8,750 per tonne from $8,500-8,775 per tonneAntimony MMTA standard grade II, $/tonne: $8,500-8,660 per tonne from $8,500-8,675 per tonneAntimony MB Chinese free market MMTA standard grade...Read More
An overview of the minor metals markets and the reasons for any price moves.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
K Alex Stewart, founder and chairman of global inspection and analysis organization Alex Stewart International, died peacefully on Monday March 26 at the age of 83.Stewart dedicated his life to metals sampling and assaying, and had 67 years' experience in the sector. He gained extensive experience in all aspects of sampling and assaying by working his way up from basic laboratory duties before gai...Read More
European alloy surcharges for April deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen amid further increases in nickel costs, making it the third consecutive month with a rise in the surcharge.The April alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,336-1,407 per tonne ($1,659-1,748). This up...Read More
(Kitco News) - Gold might be sharing some of its magic allure with the struggling sister metal, silver, said the head of commodity strategy at Saxo Bank, adding that there is a growing demand for safe investment options that are cheaper than gold.If gold manages to break above its resistance at $1375 an ounce, silver can benefit, said Ole Hansen in a note on Tuesday.“The current rally may he...Read More
Copper call – Copper sell call 2af given at 432.10 cmp 429.20 near to tgt. Low risk taker book 2.9 points per lotTips id 2af : Copper Calls - SELL Copper at CMP 432.10 Add more at price 434 with SL Above 435.90 for Target 429 - 427.50AFTER POST CONTENT Read More
(Kitco News) - Bitcoin’s fall below $8,000 on Tuesday, hitting a two-week low, could reignite interest in the silver market, according to one commodity analyst. Andrew Hecht, creator of the Hecht Commodity report wrote in a recent post on seekingalpha.com that one of the reasons why silver underperformed within the precious metals sector, is because it faced tough competition from cryptocurr...Read More
(Kitco News) - Investors are breathing a sigh of relief after Monday’s across-the-board 2% rally in equity markets, but one Canadian bank warned that technical indicators don’t support higher prices in the long term.“Distribution forces appear more dominant as global equities are showing negative reversals below technical support levels on heavier volume,” Sid Mokharti, tec...Read More
Copper Calls – SELL Copper at CMP 432.10 Add more at price 434 with SL Above 435.90 for Target 429 – 427.50AFTER POST CONTENT Read More
(Kitco News) - Gold and silver prices ended the U.S. day session lower Tuesday, on profit taking from recent gains. Gold prices hit a five-week high overnight, while silver notched a three-week high. A rebound in the U.S. dollar index today also worked against the precious metals market bulls. April Comex gold futures were last down $12.70 an ounce at $1,342.40. May Comex silver was last down $0.1...Read More