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
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
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
The proposed Section 232 investigation remedies by the United States Commerce Department are being felt in the global market, with the common theme being a reorganization of the world's supply chains to remove the US from the trade flow. North America One of the biggest question marks in North America related to the Section 232 recommendations is what any of them - if implemented - will mean for s...Read More
The former chief executive officer of Rio Tinto and Vedanta Resources, Tom Albanese, has joined an advisory board at flourishing miner Nevada Copper, in the expectation of being nominated for membership of the company's board at an annual general meeting in April.Albanese is joined on the advisory board by veteran mining analyst Ernie Nutter, previously of Capital Group and RBC...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
Kaz Minerals more than doubled its underlying profit last year to $476 million on strong copper sales, the London-listed copper miner said on Thursday February 22. The company sold 256,000 tonnes of the red metal last year, up 81.60% from the previous year, according to a regulatory filing. Kazakhstan's largest copper producer generated more than 258,500 tonnes of copper in 2017, following the ram...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 billet prices have increased over the past week following the increase in scrap import values, while demand for material was also strong, sources said on Thursday February 22.Metal Bulletin's weekly price assessment for billet imports into Turkey was $525-540 per tonne cfr on February 22, up from the $510-520 per tonne of last week.A number of billet cargoes were...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
Steel billet import prices in Egypt narrowed upwards in the week ended Thursday February 22, while domestic rebar prices were unchanged.Metal Bulletin's weekly price assessment for Egyptian billet imports moved up on the low end of the range to $515-530 per tonne cfr from $510-530 per tonne cfr previously. A new deal of about 5,000 tonnes of billet booked...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 $515...Read More
Domestic prices in Northern Europe for hot-dipped galvanized coil (HDG) have been largely unchanged this week, however the price trend remains positive, sources told Metal Bulletin.The uptrend is supported by bullish sentiment in the hot-rolled coil (HRC) segment, sources said.Domestic prices for HRC in Europe are likely to rise, supported by the fact that mills are well booked in the North and th...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
Tshipi shareholders are looking into a new marketing structure under which manganese ore volume would be allocated in line with shareholding, Metal Bulletin understands.The miner became South Africa's largest by export volume in July 2017, after shipping over 1.3 million tonnes in a five-month...Read More
Spot prices for European molybdic oxide and ferro-molybdenum have increased so far this week despite the absence of China, with most market sentiment suggesting further gains in the near term, sources told Metal Bulletin.Metal Bulletin assessed molybdic oxide prices at $12.30-12.45 per lb in-warehouse Rotterdam on Wednesday February 21, up from $12.20-12.30 per lb on Friday. The market was as...Read More
Recently announced changes to operating practices at coal rail freight operator Aurizon are affecting available rail capacity, Australian coal producer Wesfarmers said on Wednesday February 21.On February 12, Aurizon announced that it expected throughput to be reduced by 20 million tonnes per year while it sought to introduce changes to its operating practices and business decisions.The changes we...Read More
German steelmakers have settled their monthly scrap contracts for February with an average price increase of ?,?15 ($18) per tonne, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany for February was ?,?265-280 ($326-345) per tonne delivered, down from ?,?280-295 per tonne delivered in January.The decrease was mainly driven by a decline...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
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