Base metals prices on the London Metal Exchange were mostly higher during morning trading on Monday February 12, with the complex attempting to rebound from last week's choppy trading conditions. The three-month copper price has recovered $89 and is trading back above $6,800 per tonne after dropping to a low of $6,733 per tonne last Friday. "A strong open to the new week... led by copper that gapp...Read More
Chow Chung Kong, chairman of the Hong Kong Exchanges and Clearing, will retire at the end of April this year, the exchange announced on Monday February 12."I will...be retiring at the end of April. I feel very honored to have presided over a period of substantial progress in HKEX's development, helping strengthen Hong Kong's leadership position as an...Read More
Exporters from the Commonwealth of Independent States have increased offers for hot-rolled coil (HRC) due to low availability of March-rolled material. Large sales to the CIS domestic market prompted the shortage rather than any improvement in export market demand, one source said. Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $575-590 per tonne fob Black Sea on Mond...Read More
Indian state-owned steelmaker Steel Authority of India (Sail) reported a rise in profit in the fourth quarter of 2017 after ten consecutive months of decline, the company said on Thursday February 8.The company reported earnings before interest, taxes, depreciation and amortization (Ebitda) of 15.71 billion rupees ($244 million) in October-December 2017, the third quarter of its current financial...Read More
CIS export billet prices bounced back in the week ended Monday February 12 after several weeks of decreases and uncertainty amid improved market conditions."Scrap prices have increased and there is no pressure from the supply side [because mills are in no hurry to sell March volumes],"one source said."Moreover, we expect a seasonal increase in consumption in the spring," he added.Metal Bulletin's...Read More
Rebar producer Sohar Steel has received certification of its responsible sourcing of construction products and sustainable constructional steel (SCS) from the UK-based Certification Authority for Reinforcing Steel (CARES), the Omani company said on Sunday February 11.The company produces 800,000 tonnes per year of rebar and 600,000 tpy of steel billet.It sells its products in Oman and...Read More
European flat steel products distributors reported a slight increase in shipments in full 2017.European flat steel products distributors reported a slight increase in shipments in full 2017.European flat steel distributors reported a 0.2% year-on-year increase in shipments in full 2017, the European federation for steel, tube and metals distribution and trade, Eurometal, said on February 9.This sl...Read More
Indian steelmaker JSW broke its record for monthly crude steel production in January 2018. JSW's crude steel production in January was 1.46 million tonnes, compared with 1.36 million tonnes in the same month in 2017, the firm said in a filing to the Bombay Stock Exchange (BSE) on Thursday February 8. The record monthly total comes after the firm recorded its highest-ever quarterly total ...Read More
China's rebar futures increased on Monday February 12 as the country's steel production hub announced more manufacturing restrictions, while spot prices were stable amid sparse trading ahead of the Chinese New Year holiday. Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($613-623) per tonne, unchanged. Northern China (Beijing): 3,950-3,990 yuan per tonne, unchanged. Ferrous futures jumped by...Read More
Manganese ore prices jumped by as much as 35 cents per lb on Friday February 9, as consumers stockpiled ahead of Chinese New Year in anticipation of further price increases. Ore prices jump as much as 35 cents as consumers stockpileAlloy prices drift in ChinaIndian alloy prices pull back as China winds downEuropean alloy prices hold in thin tradingAlloy markets stand firm in USA Manganese ore pric...Read More
Ferro-chrome prices held in China and chrome ore prices weakened, as spot trading wound down ahead of Chinese New Year, after mills had bought in early. Ferro-chrome prices hold in China as holidays approachChrome ore prices edge lowerAlloy prices jump in Japan, South KoreaAlloy prices jumping Asia as special steel orders growUS alloys prices edge higher Ferro-chrome prices held in China and chrom...Read More
Iron ore prices fell slightly but stayed above $76 per tonne cfr China on Monday February 12 amid a slowdown in trading in the physical market.Metal Bulletin's 62% Fe Iron Ore IndexToday: $76.24 per tonne cfr QingdaoDaily change: down by $0.22 per tonneMonth-to-date average: $75.76 per tonneMetal Bulletin's 58% Fe Premium IndexToday: $60.84 per tonne cfr QingdaoDaily change: down...Read More
The physical iron ore market wound down further on Monday February 12 with participants more or less already in a holiday mood for the Chinese New Year break, which starts officially on Thursday in China.Key driversChina's ferrous futures were rangebound during the day, while the spot steel market also reported little change in prices and trading activity.With most of mills' procurement staff alre...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing Iron...Read More
The seaborne coking coal market had a muted start to the week with many participants already in a holiday mood ahead of a weeklong break in China for the Chinese New Year."There was a slew of transactions last week since Chinese end-users had not been procuring materials in the seaborne market in a while but it has been interrupted by the upcoming holiday," a southern Chinese end-user source told...Read More
China's ferrous futures mostly started the week with slight gains during the morning trading session on Monday February 12.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,910 yuan ($621) per tonne, up 15 yuan per tonne May hot-rolled coil: 3,966 yuan per tonne, down 1 yuan per tonne Dalian Commodity Exchange May iron ore: 522 yuan per tonne, down 0.50 yuan per tonne...Read More
The price differential between high and low-grade cobalt narrowed last week, reflecting strong demand for units with chemical applications and a pronounced tightness for broken cathodes and briquettes.Prices for both grades continued to firm while consumer demand and tight supply persisted in the week before the Lunar New Year. Metal Bulletin's benchmark low-grade cobalt price assessment ended the...Read More
Chromium prices held at a five-year high on Friday February 9 due to a severe shortage of material and strong downstream demand. Metal Bulletin assessed in-warehouse chromium prices at $9,000-9,700 per tonne on Friday, stable with the previous week's assessment, and up 14% from January 26, when the market stood at $8,050-8,350 per tonne. Prices are at their highest level since March 2013. The...Read More
Chinese silicon export prices jumped up by 1.3% on Friday February 9 due to currency uncertainty and tightening spot availability, while US silicon prices rose again on higher logistics costs and supply concerns ahead of the final determinations on the anti-dumping and countervailing duty probes. Chinese silicon metal export price breached $2,000 per tonne in the latest pricing assessment amid a b...Read More
Tightening supply continued to push European antimony prices higher last week while the Chinese market had begun to close down ahead of the upcoming Lunar New Year holidays.Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,400-8,600 per tonne on Friday February 9, up from the midweek assessment of $8,300-8,500 per tonne.Trioxide grade antimony prices in-wa...Read More