Richard Lewis has been appointed the managing director of Avon Metals. Lewis has worked for the Gloucester, UK-based secondary alloys producer since 2009 as its commercial director. Avon...Read More
The Turkish scrap import market was still silent at the beginning of this week, with the country's steel mills still in negotiations with suppliers, sources said on Monday February 5.The steel producers in Turkey had returned to the deep-sea scrap market at the end of last week for three deep-sea cargoes from the United States and the UK.Two steel mills booked US cargoes at...Read More
With the Chinese economy slowing down and steel margins being squeezed by higher raw materials costs and lower finished steel prices, the prospects for 2018 do not exactly look rosy.But pressures on the domestic housing market are easing and industrial growth is still above 6%, so with the Chinese New Year just around the corner, it's probably best to wait until after the celebrations to...Read More
China has officially approved the participation of overseas investors in the trade in iron ore futures on the Dalian Commodity Exchange (DCE), making it the first commodity contract to be internationalized by the country."The China Securities Regulatory Commission has [nominated] the iron ore futures contract on DCE a special product... open to foreign investors," local media quoted a spokesman fo...Read More
Iron ore output in Peru increased by 14.90% year-on-year in 2017, according to figures released by the country's mining ministry, MEM, late last week.Production totaled 8.81 million tonnes, against 7.66 million tonnes in 2016.This growth was due to increased output at Shougang Hierro Per??, a subsidiary of China-based Shougang group, as well as the start-up of Minera Shouxin Per?? in mid-2017, acc...Read More
Prices for seaborne iron ore concentrate continued to fall last week amid a subdued fines segment. Metal Bulletin's weekly 66% Fe Iron Ore Concentrate Index dropped to $92.58 per tonne cfr Qingdao last Friday February 2, down $3.21 per tonne from a week earlier. The daily Metal Bulletin 65% Fe Iron Ore Index averaged $89.06 per tonne cfr China last week, down $1.36 per tonne from the previous week...Read More
Seaborne iron ore prices moved up on Monday February 5 amid gains in the futures market.Metal Bulletin's 62% Fe Iron Ore IndexToday: $75.70 per tonne cfr QingdaoDaily change: $1.31 per tonneMonth-to-date average: $74.32 per tonneMetal Bulletin's 58% Fe Premium IndexToday: $61.14 per tonneDaily change: Up by...Read More
Physical iron ore was traded at higher prices on Monday February 5 in line with further increases in China's steel and futures markets.Key driversChinese ferrous futures advanced across the board during the day, with the benchmark contract for iron ore rising 2.5% from the settlement price last Friday, while those for coke and coking coal posted more-impressive gains of 4.2-4.7%.The general uptren...Read More
China's ferrous futures rose slightly during the morning trading session on Monday February 5.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,949 ($626) per tonne, up 13 yuan per tonne May hot-rolled coil: 4,027 yuan per tonne, up 17 yuan per tonne Dalian Commodity Exchange May iron ore: 519.50 yuan per tonne, up 3.50 yuan per tonneMay coking coal: 1,350 yuan per to...Read More
Seaborne coking coal prices remain firm amid concerns about possible weather-related disruptions in Australia and tight supply in China's domestic market. "There has been a lingering tightness in the mid-vol premium Australian hard coking coal segment, with the cyclone season making buyers more nervous now," a trader source said on Monday February 5. The Queensland Bureau of Meteorology has issued...Read More
Base metals prices on the London Metal Exchange were largely consolidating during morning trading on Monday February 5 after a broadly negative performance at the end of last week. Copper's three-month price has gained $55 so far this morning to move above $7,100 per tonne. "Copper is the best performer so far today on the back of a decent onshore bid which has managed to keep LME copper well abov...Read More
China's domestic rebar prices rose slightly on Monday February 5 amid a strengthening of the billet market.Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($612-622) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,920-3,960 yuan per tonne, widened upward by 10 yuan per tonneThe price of billet increased by 20 yuan per tonne over weekend, which gave the spot rebar market a boost.But...Read More
China's domestic prices for hot-rolled coil rose slightly on Monday February 5 on early gains in the paper market. DomesticEastern China (Shanghai): 4,110-4,140 yuan ($652-657) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 4,000-4,030 yuan per tonne, up 10 yuan per tonneHRC futures recovered a bulk of the losses experienced during last Friday night's trading session, which improved sent...Read More
Cobalt log based on trades, bids and offers confirmed to Metal Bulletin. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Click here for Metal Bulletin's cobalt pricing specifications. Metal Bulletin prices Click here for cobalt low-grade MB free market price. Click here for cobalt high-grade MB free market price. Click...Read More
Cobalt prices continued their steady ascent last week, while opportunities to pick up more cheaply-priced units ran thin. But slower spot activity ahead of the Chinese New Year holiday and buyers' reluctance to overstock at high prices served to limit the pace of the rally, market sources noted. Metal Bulletin assessed low-grade cobalt prices at $37.25-38.50 per lb, in-warehouse, on Friday Fe...Read More
The latest metal markets news and price moves to start the North American day on Monday February 5.Base metals prices on the London Metal Exchange were largely consolidating during morning trading today after a broadly negative performance at the end of last week.Here is how the LME...Read More
Chinese silicon export prices rose again in the pricing session last week due to continuing dollar weakness and tightening spot availability. The weakening dollar has forced Chinese silicon exporters to frequently refresh their quotations in the past week to keep their order book balanced. The dollar index was recently at 89.07, down on Friday but up slightly from a low of 88.43 on January 25. Met...Read More
European antimony prices rose on Friday February 2 amid continued tightness in availability ahead of Lunar New Year while prices in China remained stable in a quiet market. Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,300-8,500 per tonne on Friday, up from the midweek assessment of $8,250-8,500 per tonne. Trioxide grade antimony prices in-wa...Read More
Ascoval, a joint venture between the recently sold Ascometal and French tube & pipe producer Vallourec in northern France, is to continue production while a buyer is sought for the company, according to reports in the French press over the weekend.The future of Ascoval was put in doubt when majority shareowner Ascometal was taken over by Swiss special and stainless steel producer Schmolz + Bickenb...Read More
A new integrated stainless steel mill in India is likely to target its output to that country and the rest of Asia to meet growing demand there, market participants told Metal BulletinChina's Tsingshan Holding Group started the construction of the cold-rolling line at what will be one one of the largest stainless steel projects in India when completed, it said late last month.Tsingshan has formed...Read More