Cobalt 27 has agreed a 1.75% net smelter return (NSR) royalty on future production of all metals, including nickel and cobalt, from the Dumont nickel sulphide project in Canada. In return for a one-off investment in the construction-ready project, Cobalt 27 will receive royalties on production of the key battery raw materials, which is forecast to begin in 2020. The investment is the first to be h...Read More
Apple has been experimenting with ways to recover cobalt from its lithium-ion batteries and to use recycled cobalt. The company says it could potentially recover 550 kilograms of cobalt from every 100,000 iPhone 6 devices it recycles. Now there are reports it's looking to secure cobalt directly from miners, marking a further move by original equipment manufacturers (OEMs) to ensure certainty of ra...Read More
Good morning from Metal Bullet's London office, bringing the latest news and pricing stories on Thursday February 22.Base metals on the LME fell across the board this morning, with a sell-off taking place following China's return to the market.Below is an LME...Read More
Turkish steel producers went back to buying deep-sea scrap on Thursday February 22, and paid comparatively higher prices, sources told Metal Bulletin.A steel mill in the Iskenderun region booked a US cargo, comprising 13,000 tonnes of HMS 1&2 (90:10) at $360.50 per tonne, 20,000 tonnes of shredded at $363.50 per tonne and 2,000 tonnes plate and structural scrap (P&S) at $368.50 per tonne cfr.Anoth...Read More
Taiwan saw a 25% year-on-year increase in ferrous scrap imports in December, according to the territory's customs agency.The island imported 236,058 tonnes of ferrous scrap during that month, 46,570 tonnes higher than the 189,488 tonnes it took in a year earlier, data from its Customs Administration...Read More
Comex copper prices bounced-back on Thursday February 22 morning in the US, after a minor rout with a weaker dollar and solid US data lifted the complex.Copper for May settlement on the Comex division of the New York Mercantile Exchange rose 0.70 cents or 0.2% to $3.2230 per lb. With Chinese investors sidelined over the past week, the gyrations in the US dollar have been used as the barometer...Read More
The metals prices on the London Metal Exchange on Thursday February 22 are down an average of 1.6%, with nickel prices down the most with a 2.3% decline to $13,460 per tonne and copper prices off 1.6% at $7,024 per tonne. With China back at work after the Lunar New year holiday, volumes on the LME have been high with 16,127 lots traded as of 07:32 am London time. Wednesday's trading had seen some...Read More
If US President Donald Trump approves Section 232 recommendations made by the country's Commerce Department, it could threaten the European steel market with export reduction and the growth of redirected import flows, sources told Metal Bulletin.The decision, however, might also allow European exporters to sell increased quantities of long steel products into the US market, should President Trump...Read More
China's domestic prices for hot-rolled coil were the same as those before the country's weeklong break on Thursday February 22 with major end-users yet to return, but higher bids from overseas buyers provided some support to the export segment.DomesticEastern China (Shanghai): 4,110-4,130 yuan ($648-651) per tonne, unchangedNorthern China (Tianjin): 4,000-4,030 yuan per tonne, unchangedInventory l...Read More
China's ferrous futures tumbled during the morning trading session on Thursday February 22 with sentiment cooling continually in the opening hours after the country returned to work after a weeklong Lunar New Year holiday.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,860 yuan ($608) per tonne, down 78 yuan per tonne May hot-rolled coil: 3,924 yuan per tonne, down...Read More
Domestic rebar prices in the United States have risen by $20 per ton, just shy of recent $25-per-ton mill hikes, according to market sources.American Metal Market's domestic rebar assessment rose to $32-33 per hundredweight, up $1 per cwt from $31-32 per cwt two weeks ago.One fabricator reported unchanged pricing for February, despite the stated timing of the increase announcements. His...Read More
Turkish domestic rebar prices have gone up sharply over the past week, in line with rising scrap values and strong demand in the country's local market, sources said on Thursday February 22.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $590-620 per tonne ex-works, up from last week's $580-595 per tonne.The domestic rebar price in...Read More
Turkish rebar and wire rod export prices have gone up sharply this week, in line with strong demand and rising raw materials costs, sources said on Thursday February 22.Metal Bulletin's weekly price assessment for rebar exports out of Turkey was $585-595 per tonne fob on an actual weight basis, up from the last week's $565-575 per...Read More
Exporters of CIS-origin pig iron sold large tonnages of material this week at lower prices, but are now preparing to increase their offers amid a bullish scrap market, sources have told Metal Bulletin.Metal Bulletin's export price assessment on Thursday February 22 for high-manganese pig iron from the CIS region was $345-370 per tonne fob Black Sea, unchanged week-on-week.After the price assessmen...Read More
Turkish steel producers went back to buying deep-sea scrap on Thursday February 22, and paid comparatively higher prices, sources told Metal Bulletin.A steel mill in the Iskenderun region booked a US cargo, comprising 13,000 tonnes of HMS 1&2 (90:10) at $360.50 per tonne, 20,000 tonnes of shredded at $363.50 per tonne and 2,000 tonnes plate and structural scrap (P&S) at $368.50 per tonne cfr.Anoth...Read More
Iron ore prices slid on Thursday February 22 but stayed above $78 per tonne cfr China with market participants still on the sidelines despite returning from their Chinese New Year break. Metal Bulletin's 62% Fe Iron Ore Index Today: $78.20 per tonne cfr Qingdao Daily change: down by $0.23 per tonne Month-to-date average: $76.92 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61.56 per tonn...Read More
China's domestic rebar prices remained the same as before the country's Chinese New Year break on Thursday February 22 amid thin trading. Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($608-618) per tonne, unchanged Northern China (Beijing): 3,950-3,990 yuan per tonne, unchanged Very few traders were offering rebar on the first working day after a weeklong holiday. Most market participants h...Read More
China's ferrous futures tumbled during the morning trading session on Thursday February 22 with sentiment cooling continually in the opening hours after the country returned to work after a weeklong Lunar New Year holiday.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,860 yuan ($608) per tonne, down 78 yuan per tonne May hot-rolled coil: 3,924 yuan per tonne, down...Read More
If US President Donald Trump approves Section 232 recommendations made by the country's Commerce Department, it could threaten the European steel market with export reduction and the growth of redirected import flows, sources told Metal Bulletin.The decision, however, might also allow European exporters to sell increased quantities of long steel products into the US market, should President Trump...Read More
Unfavorable weather conditions in Queensland, Australia have left buyers of seaborne coking coal anxious about how they might affect supply, though some services on the state's coal rail network have been restarted following recent disruptions.Some sections of the Goonyella line in the Central Queensland Coal System were re-opened to traffic on Thursday February 22 following track inspections this...Read More