Base metals prices on the London Metal Exchange were mostly lower at the close on Monday March 19, while most prices lacked clear direction before Wednesday's Federal Open Market Committee (FOMC) meeting. Nickel prices declined $145 per tonne - the metal has come under sustained pressure since it hit $14,000 per tonne last week and cannot find new support."The combination of a strong dollar index...Read More
Comex copper prices slipped further Monday March 19 morning with the market in consolidation mode due to investors heading to the sidelines ahead of the Federal Reserve meeting.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 1.95 cents or 0.6% to $3.0890 per lb."While the consolidation in copper prices may run a little further on the back of an overall we...Read More
After suffering for some seven years through to 2015, the world's steelmakers have had cause for cheer over the past couple of years. After some heavy losses and write-downs, they finally appear to have emerged from the wreckage of the global financial crisis. An economic upswing has taken root in most regions of the world, Chinese steel output and export growth has slowed noticeably, and steel pr...Read More
London Metal Exchange warehouse stocks have staged a recovery over the first few months of this year from the multi-year lows of 2017, due to a flurry of large deliveries across many of the base metals. After last year was marked by dwindling stock levels across the board, the first few months of 2018 have seen a reversal - with companies putting more metal back into LME-approved warehouses. "The...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close on Monday March 19, while most prices lacked clear direction before Wednesday's Federal Open Market Committee (FOMC) meeting. Nickel prices declined $145 per tonne - the metal has come under sustained pressure since it hit $14,000 per tonne last week and cannot find new support."The combination of a strong dollar index...Read More
Huge amounts of zinc ingots from Spain, both new and old stock, continue to enter the Chinese market after a significant inflow last year, which is leading to inventory build-up and depressed premiums, market participants have told Metal Bulletin.For the first month this year, Spain remained the biggest supplier of refined zinc to China, providing one-quarter of the total of 67,111 tonnes imported...Read More
Comex copper prices slipped further Monday March 19 morning with the market in consolidation mode due to investors heading to the sidelines ahead of the Federal Reserve meeting.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 1.95 cents or 0.6% to $3.0890 per lb."While the consolidation in copper prices may run a little further on the back of an overall we...Read More
The European Commission has warned that it is prepared to impose temporary safeguard duties on imports into the European Union of US-made steel and aluminium in response to new US import duties on aluminium and steel imports. The EC has released a draft list of products which may in future attract retaliatory duties, including a wide range of aluminium and steel products, such as bars, rods, angle...Read More
The latest metal markets news and price moves to start the North American day on Monday March 19.Base metals prices on the London Metal Exchange fell across the board during morning trading on Monday March 19, with copper the worst affected.Here's how base...Read More
Base metals prices on the London Metal Exchange fell across the board during morning trading on Monday March 19, with copper the worst affected. The three-month copper price is down $75 this morning and sits just above the $6,800 per tonne support barrier. The metal has come under pressure after supply concerns eased. "Base metals were largely weaker, led by copper, where concerns over supply disr...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday March 19* Copper -$94.47 (-599.38 yuan) Aluminium -$408.07 (-2,588.93 yuan) Zinc -$104.31 (-661.77 yuan) Nickel -$456.49 (-2,896.13 yuan) *Metal Bulletin calculates the physical...Read More
Brazilian crude steel output increased by 5.50% year-on-year in February, according to figures released by national steel institute A??o Brasil on Monday March 19.Production totaled 2.71 million tonnes, against 2.57 million tonnes a year before.Brazilian firms produced 1.83 million tonnes of finished steel last month, growth of 7.50% from February 2017's level of 1.70 million tonnes.In the same co...Read More
Competition regulators in the European Union have again postponed a decision on the sale of Italian steelmaker Ilva until May 23 this year, a spokesman for the European Commission (EC) confirmed to Metal Bulletin on Monday March 19.The decision was postponed because the EU authorities must review new commitments submitted on March 15 by the intended purchaser, AM Investco Italy, a consortium led b...Read More
Local rebar and import billet prices in Egypt increased again this week because of strong demand.Beshay Steel began offering rebar at E ?12,996 ($738) per tonne ex-works on Saturday March 17, up from the E ?12,768 per tonne ex-works announced on March 8.The country's...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletUkraine, export, billet,...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: RebarRebarEgypt, domestic (Ezz Steel), rebar,...Read More
Spot prices for ammonium paratungstate (APT) continued to rise in last week's pricing session due to tightening supply in China. APT prices rise on tighter supply, slower Chinese output Profit-taking prompts fall in ferro-tungsten prices in China Cash flow pressure weighs on concentrates prices Metal Bulletin's benchmark cif Rotterdam quotation for APT rose to $325-334 per mtu on...Read More
Jupiter Mines is pursuing a A$240 million ($185 million) relisting on the Australian Securities Exchange (ASX), the company said on Monday March 19. The miner, which owns Tshipi - South Africa's largest manganese ore producer by export volume, lodged a company prospectus with the ASX today and expects its shares to start trading on April 18. Jupiter said in October 2013 it had been approved to del...Read More
The Chinese ferro-silicon spot market has stabilized losses in the past week, with support coming from magnesium production - a sizeable consumer of ferro-silicon. Chinese spot market halts downward drift but ample supply may drag in near term Europe prices stable, awaits second quarter settlements US market eases, but low stock levels offer support Chinese prices steady Chinese domes...Read More
Imported charge chrome prices outperformed Chinese ferro-chrome on Friday March 16, after the domestic market took a poor view of demand from the stainless sector. Charge chrome holds firm in ChinaChinese domestic ferro-chrome prices weakenAlloy prices holding in Japan, South KoreaUS alloy prices steadyEuropean spot prices weaken Charge chrome prices strengthened in China on Friday, supported by...Read More