The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday February 9:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.20-12.50 per lb from $12.10-12.50 Molybdenum US canned molybdic oxide, $/Ib $12.10-12.30 per Ib from $11.90-12.20 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $30.00-30.80 per kg from $30.00-30.40 Ferro-molybdenum U...Read More
Due to a technical error, the following prices were inadvertently published by Metal Bulletin Group on Friday February 9. - Ferro-vanadium, 78% min fob China $ per kg V -...Read More
Turkish ferrous scrap import prices rebounded at the end of the working week of Monday February 5 to Friday February 9, boosted by expectations that finished steel demand is likely to bounce back soon.Import scrap prices in Taiwan are still trending downward on very limited demand before the Lunar New Year, while Indian import prices moved in the opposite direction due to an improved appetite for...Read More
Turkish steel producers continued their bookings for March at comparatively stable prices on Friday February 9.A steel mill in the Marmara region came to the market and booked a US cargo at $353 per tonne cfr for 32,000 tonnes of shredded.The same mill also booked...Read More
Prices for ferrous scrap imported in containers into India inched upward this week, with good demand from mills combining with firm finished steel markets in the country, sources said on Friday February 9.Solid demand in the country prevented a sharper drop in Indian import prices last week, at a time when the Turkish import market was weakening more acutely.But with the Turkish market reversing w...Read More
The price range for austenitic alloy steel scrap imported into mainland Europe fell by ?,?20 per tonne week-on-week on Friday February 9, after the nickel price weakened sharply.Metal Bulletin's weekly price assessment on Friday for 18/8 stainless steel solids imported into mainland Europe was ?,?1,120-1,150 ($1,373-1,410) per tonne cif main European ports, compared with ?,?1,140-1,170 per tonne c...Read More
Export prices for Brazilian pig iron were unchanged this week, amid upcoming holidays in various global regions and uncertainty over scrap prices in the United States."The market is waiting for a clear direction on where scrap prices in the US are heading," a Brazil-based source said."Besides closely following the settlement of US scrap prices, the Brazilian pig iron market is also quiet due to th...Read More
Demand from basic oxygen furnaces (BOFs) and the bottoming out of steel prices in China have kept domestic ferrous scrap prices in the country's eastern region unchanged for the past three weeks.Metal Bulletin's weekly assessment of prices for domestic heavy scrap of no less than 6-8mm in thickness delivered to mills in east China stood at 2,300-2,530 yuan ($364-400) per tonne on Friday February 9...Read More
Iron ore prices fell below $77 per tonne cfr China on Friday February 9 due to a slowdown in trading activity ahead of the Chinese New Year holidays.Metal Bulletin's 62% Fe Iron Ore Index Today: $76.46 per tonne cfr QingdaoDaily change: down by $0.86 per tonneMonth-to-date average: $75.70 per tonneMetal Bulletin's 58% Fe Premium Index Today: $60.88 per tonne cfr QingdaoDaily change: down by $0.92...Read More
The Shanghai Futures Exchange will launch its much-awaited crude oil futures on March 26, the exchange said on Friday February 9. The contract - which will be denominated in yuan and accept foreign exchange as a margin - will trade on the Shanghai International Energy Exchange (INE), a SHFE subsidiary. The INE's crude oil futures launch is being closely watched by the global...Read More
Base metals prices on the London Metal Exchange were down across the board during morning trading on Friday February 9 after aluminium and copper stocks rose significantly. The three-month copper price dropped to a low of $6,784.50 per tonne this morning with on-warrant stocks climbing 22% this week. "LME on-warrant stocks have risen another 10% today, resulting in a 53,600 tonne or 22% rise this...Read More
China's hot-rolled coil futures tumbled on Friday February 9, though spot prices for the product were unchanged due to sparse trading.DomesticEastern China (Shanghai): 4,110-4,130 yuan ($650-654) per tonne, unchangedNorthern China (Tianjin): 4,000-4,030 yuan per tonne, unchangedThe Shanghai stock market plummeted for a fourth day, which led to growing risk aversion that weighed on ferrous futures...Read More
Chinese demand for seaborne coking coal remains underpinned ahead of next week's New Year Holiday, market participants said on Friday February 9. Surging domestic coking coal prices in the country and limited inventories meant mills were encouraging buyers to enquire about seaborne materials, a trader source said. "Some domestic miners have already gone on leave and that is further tightening...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 February 9:Minor metals Antimony MB free market regulus, $/tonne: $8,500-8,700 per tonne from $8,400-8,600 Antimony MMTA standard grade II, $/tonne: $8,400-8,600...Read More
Most Chinese minor metals markets were quiet in the week to Friday February 9, the week before the Lunar New Year holiday. The major logistics companies in China have closed and most minor metals market participants...Read More
Base metals traded on the London Metal Exchange are experiencing downward pressure this morning, Friday February 9, with the complex posting an average loss of 0.7% amid healthy volumes. Nickel (-1.6%) has been hit the worst, while copper (-0.2%) appears to be the most resilient.The downward pressure across the industrial metals is driven by a deterioration in risk sentiment in Asia, evident in eq...Read More
Annual aluminium wheel alloy silicon 7 ingot premiums in Japan and South Korea for 2018 supply have largely settled at lower levels than those for last year, market sources told Metal Bulletin.Annual premiums in Japan have settled at $105-120 per tonne cif main Japanese ports for 2018 supply, down slightly from a range of $110-120 per tonne for supply in the prior year. The premiums were assessed...Read More
Swedish steelmaker Ovako predicts that it will achieve a higher volume of sales in the first quarter of 2018, driven by strong industrial activity among its customers, the company said on Friday February 9.Eurozone manufacturing output has been at multi-year highs during recent months, and Sweden has seen strong markets for cars, trucks and industrial equipment, Ovako said.The company's sales volu...Read More
China's ferrous futures trended downward during the morning trading session on Friday February 9. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,922 ($621) per tonne, down 8 yuan per tonne May hot-rolled coil: 4,008 yuan per tonne, down 14 yuan per tonne Dalian Commodity Exchange May iron ore: 529.50 yuan per tonne, down 1.50 yuan per tonne May coking coal: 1,363 y...Read More