Local and imported rebar prices in the United Arab Emirates and Saudi Arabia remained unchanged this week although the price of billet imports into the UAE increased, sources told Metal Bulletin on Tuesday February 27.Demand for locally produced rebar in the UAE was still strong.Domestic rebarThe major rebar producers in the UAE rolled over their prices for March and April production last week.The...Read More
A summary of base metals premiums across the globe for the week to Tuesday February 27.Read More
Comex copper prices were once again trading in negative territory on Tuesday February 27, with the complex under pressure due to a surging dollar. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 1.95 cents or 0.6% to $3.1930 per lb. The red metal has now slipped for three consecutive sessions. The US dollar is driving the marketplace right now, with a lack...Read More
Historic payment structures are enabling zinc smelters to raise primary output even as market-related terms such as metal premiums and concentrate treatment charges remain low; but the opposite is true for lead. Zinc smelters which process concentrates into refined metal only have to pay for 85% of the zinc metal contained in concentrate they purchase, but generally utilize 97% or more. Lead smelt...Read More
Primary aluminium production at Emirates Global Aluminium (EGA) rose 4% to a record 2.6 million tonnes in 2017, the aluminium producer said on Tuesday February 27. EGA sells about 10% of its production to customers in the United Arab Emirates. It sold 268,000 tonnes of aluminium metal to customers in the UAE in 2017, compared with 262,000 tonnes - including sales of hot liquid metal to customers l...Read More
The latest metal markets news and price moves to start the North American day on Tuesday February 27.Base metals prices on the London Metal Exchange were mostly firmer during morning trading, but no significant movements are taking place.The three-month aluminium price was $20 higher as it pushed back above $2,150 per tonne after further cancellations at LME-listed warehouses. 24,900 tonnes was ca...Read More
Emirates Global Aluminium's (EGA) strategic upstream integration projects, Al Taweelah alumina refinery in Abu Dhabi and Guinea Alumina Corp (GAC) bauxite mine in the Republic of Guinea, are making "strong progress", the company said on Tuesday February 27. Work on the Al Taweelah alumina refinery is 76% complete and alumina output is expected to begin in the first half of 2019, EGA said. The Al T...Read More
Earnings at Mexican steel group Industrias CH (ICH) fell by 11% year-on-year in the fourth quarter of 2017 because of the lower volumes sold.Earnings before interests, taxes, depreciation and amortization (Ebitda) amounted to 1.34 billion pesos ($72 million) during the quarter, compared with 1.51 billion pesos a year earlier, the company said in a report to the Mexican stock exchange on Monday Feb...Read More
Mexican steelmaker Grupo Simec increased its earnings by 6% year-on-year in the fourth quarter of 2017, amid lower costs and expenses, but did not manage to keep itself in profit for the three months.Earnings before interests, taxes, depreciation and amortization amounted to 1.13 billion pesos ($61 million) during the period, up from 1.06 billion pesos in the fourth quarter of 2016, the company sa...Read More
ArcelorMittal is planning to invest a further ?,?10 million ($12.31 million) by the end of this year in the expansion of its service center in Neuwied, Germany, the company said on Tuesday February 27.It had already invested ?,?6.5 million this year before the end of February, so that will bring the total for 2018 to ?,?16.5 million.The steelmaker processes flat steel at the site, which mainly com...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil (2mm), offered at $620-630 per tonne cfr, to the UAE.India, export, hot-rolled coil (2mm), offered at $650-660 p...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletIran, export, billet, traded at $535-540 per...Read More
The Chinese vanadium market remained sluggish after the Lunar New Year holiday came to an end last week, but the European and US markets continued to strengthen amid supply concerns. China market sluggish after holiday, prices steady Tightness in European market bolsters prices once again US market continues to strengthen on thin supplyChinese vanadium participants were slow in returning to the ma...Read More
Global manganese alloy and ore markets were broadly stable last week, with trading activity remaining subdued following the Lunar New Year holiday. Chinese manganese markets rangebound on thin trading due to holiday period EU alloys continue to be supported by strong ore markets US manganese alloys hold firm on consolidated suppliesManganese ore prices little changed amid thin tradingManganese ore...Read More
Vale's earnings fell by 12.92% year on year in the fourth quarter of 2017, the Brazilian miner said late on Tuesday February 27, due to lower prices and reduced shipments amid margin optimization strategies.The company's fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) amounted to $4.11 billion, against $4.72 billion a year before. But fourth-qua...Read More
Worldwide output of direct-reduced iron (DRI) increased by 7.60% year-on-year in January 2018, driven by higher production from India, according to the World Steel Assn (Worldsteel).DRI output was 6.47 million tonnes in January 2018, compared with 6.02 million tonnes one year before, Worldsteel said on Monday February 26.India's DRI output jumped by 114.62% year-on-year to 2.15 million tonnes in t...Read More
The Turkish import scrap market is likely to swap the volatility seen in the first two months of 2018 for a more stable market environment during the remainder of the first half of the year, according to the Bureau of International Recycling (BIR).The prediction was among the market comments and observations in the BIR's latest quarterly report, published on Thursday February 22.Turkish import scr...Read More
Iron ore prices softened slightly but stayed above $79 per tonne cfr China on Tuesday February 27 after a jump a day earlier. Metal Bulletin's 62% Fe Iron Ore Index Today: $79.15 per tonne cfr Qingdao Daily change: down by $0.21 per tonne Month-to-date average: $77.29 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61.87 per tonne cfr...Read More
Seaborne coking coal prices remain firm, with market participants expecting the resurgence of Chinese demand to set direction in the coming weeks. Premium category cargoes were heard offered at around $235 per tonne cfr China on Tuesday February 27, with offers on second-tier materials at around $200 per tonne cfr China. Bids on fob Australia premium hard coking coal moved up to $230 per tonne on...Read More
Prices for seaborne iron ore were rangebound on Tuesday February 27 after they rose close to the $80-per-tonne level a day earlier. Key drivers Premiums for March-delivery cargoes of Pilbara Blend fines and Newman fines continued to weaken during the day amid an increase in the number of such cargoes being offered on the market and thin buying interest among mills. Several trading sources pegged t...Read More