The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday March 16:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.75-12.85 per lb from $12.85-12.95 per lbMolybdenum US canned molybdic oxide, $/Ib $12.90-13.10 per Ib from $13.00-13.10 per lbFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $30.70-30.90 per kg from $30.80-31.35 per kgFer...Read More
Iron ore output at Anglo American's Brazilian Minas-Rio operation is still halted after a slurry pipeline rupture, but shipments are not expected to be affected, it told Metal Bulletin on Friday March 16."So far, there is no impact forecast," the miner said. "There are around 700,000 tonnes of iron ore stocked, which is a sufficient volume to meet the shipping schedule of the next vessels."The com...Read More
German steelmakers have settled their monthly scrap contracts for March with an average price increase of ?,?20 per tonne, sources told Metal Bulletin on Friday March 16.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany for February was ?,?280-300 ($346-370) per tonne delivered, up from ?,?265-280 per tonne delivered in February.The lower end of the assessment reflec...Read More
The Turkish deep-sea scrap market remained silent at the end of the week, with only a few short-sea cargoes being booked for urgent requirements, sources said on Friday March 16.Some short-sea cargoes were booked at $361-365 per tonne cfr for CIS-origin A3-grade scrap, market participants said.Other than those transactions, there have been no deep-sea trades heard so far this week.A scrap supplier...Read More
Iron ore prices tumbled on Friday March 16 following a decline in the futures market amid doubts whether downstream demand for steel in China has truly started to recover after the Chinese New Year.Metal Bulletin's 62% Fe Iron Ore Index Today: $69.84 per tonne cfr QingdaoDaily change: down $2.27 per tonneMonth-to-date average: $73.61 per tonneMetal Bulletin's 58% Fe Premium Index Today: $56.91 per...Read More
The seaborne coking coal market took a breather on Friday March 16, though buyers outside of China are still anticipating prices to experience a downward correction.A cargo of mid-vol premium hard coking coal was traded at $215 per tonne fob Australia while a lower-ranked second-tier product changed hands at $182 per tonne fob Australia, sources told Metal Bulletin during the day. "The market is s...Read More
Seaborne iron ore prices fell below $70 per tonne cfr China again on Friday March 16 with sentiment deteriorating amid declining futures. Key drivers Doubts have emerged in the market over whether downstream demand for steel products had truly started to recover.China's major ports had 159.37 million tonnes of iron ore on Friday, up 742,000 tonnes from a week earlier. The increase was concentrated...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday March 16:Minor metalsArsenic MB free market, $/Ib: $1.10-1.30 per Ib from $0.70-1.05 per lbCadmium MB free market min 99.99%, cents/lb: 155-175 per lb from 150-170 per lbChromium MB free market alumino-thermic, $/tonne: $10,500-11,300 per tonne from $10,500-11,000 per tonneCobalt MB free market high grade, $/lb: $41.70-43.00 p...Read More
An overview of China's minor metals markets in the week of March 12-16 and the reasons for any price moves.Read More
Bismuth prices are being driven higher by a supply shortage in China that has resulted from environmental crackdowns in the country. "Due to the upcoming environmental protection policy, many manufacturers have suspended their production and it is hard to locate proper goods," a producer source in China said.Metal Bulletin assessed bismuth free market in warehouse prices at $5.20-5.40 pe...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Friday March 16, with all of the metals, except tin, showing average gains of 0.4%. Copper is up by 0.5% at $6,956 per tonne, while tin is off by 0.1% at $20,970 per tonne.Volume has been light with 4,565 lots traded as of 06.29am London time. This follows a day of weakness on Thursday, with the complex cl...Read More
Import volumes of stainless steel into the United States from European mills are likely to fall sharply once US President Donald Trump's Section 232 tariffs on imported steel are imposed, Danish distributor Damstahl said this week.The 25% tariff on imported steel will come into effect on Friday March 23 at 12:01am New York time.Around 350,000 tonnes, or 60% of total flat stainless steel imports in...Read More
Domestic stainless steel prices in China continued to slide over the past week with stockists making a push to destock.Metal Bulletin's assessment of prices for benchmark 304 stainless CRC in the major market of Wuxi was 14,500-15,300 yuan ($2,294-2,420) per tonne including VAT for the week ended Thursday March 15, widening downward from 14,600-15,300 yuan per tonne a week earlier. Stockists have...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday March 16:Aluminium scrapCast: ?,?1,170-1,240 per tonne from ?,?1,180-1,250 per tonneMixed turnings...Read More
The UK inter-merchant price range for austenitic alloy steel products rose by ?10-20 per tonne this week, with the nickel price strengthening over the week, sources said on Friday March 16.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?960-1,000 ($1,340-1,396) per tonne delivered on Friday, compared with ?950-980 per tonne on March 9."The nickel pri...Read More
Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More
Iron ore output at Anglo American's Brazilian Minas-Rio operation is still halted after a slurry pipeline rupture, but shipments are not expected to be affected, it told Metal Bulletin on Friday March 16."So far, there is no impact forecast," the miner said. "There are around 700,000 tonnes of iron ore stocked, which is a sufficient volume to meet the shipping schedule of the next vessels."The com...Read More
New long steel capacity in the pipeline in the Philippines may well disrupt trade flows in Asia once they come on stream, market sources told Metal Bulletin this week.This is because the Philippines could reduce its reliance on imports, which would result in seaborne cargoes being diverted elsewhere in the region. Major Philippine rebar producer SteelAsia Manufacturing Corp plans to increase its c...Read More
(Kitco News) - Saxo Bank said it is shorting gold going into the next week’s much anticipated Federal Reserve rate hike.“We are shorting gold into next week's Federal Open Market Committee meeting,” Saxo Bank’s global macro strategist Kay Van-Petersen said in a note published on Wednesday. “Based on the current gold price of $1328/oz, the implied target range for shor...Read More