SHANGHAI, Feb 1 (SMM) – The purchasing managers’ index (PMI) for nickel’s downstream industries in February is expected at 33.92, according to SMM survey. This is lower than 40.34 points for January as stainless steel mills will be in maintenance or see lower output due to Chinese New Year. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more infor...Read More
SHANGHAI, Feb 1 (SMM) – China’s production of 10 nonferrous metals amounted to 53.78 million mt in 2017, up 3% from a year ago, according to data released by the National Development and Reform Commission (NDRC) on Wednesday January 31. The annual growth was up 0.5 percentage point from the previous year.According to the data, copper output was up 7.7% to 8.89 million mt, aluminium was...Read More
SHANGHAI, Feb 1 (SMM) – China’s production of 10 nonferrous metals amounted to 53.78 million mt in 2017, up 3% from a year ago, according to data released by the National Development and Reform Commission (NDRC) on Wednesday January 31. The annual growth was up 0.5 percentage point from the previous year.According to the data, copper output was up 7.7% to 8.89 million mt, aluminium was...Read More
Base metals prices on the London Metal Exchange are struggling to extend gains and are consolidating in high ground this morning, Thursday February 1. Copper ($7,073 per tonne), zinc, aluminium and nickel prices are off between 0.2% and 0.4%, while lead and tin prices are up by 0.2% and 0.1% respectively.Volume has been below average with 6,950 lots traded as of 07.07 am London time. This follows...Read More
Treatment and refining charges (TC/RCs) for spot market copper concentrates dropped significantly during the second half of January, with smelters coming to the market for tonnages below benchmark rates and mine sales going at aggressive numbers.Metal Bulletin's copper concentrate TC/RC index dropped by $9.4 per tonne/0.94 cents per lb. Of that drop, $3.2/0.32 cents was due to the addition of a co...Read More
Lead prices on the London Metal Exchange were 1.7% higher at the close on Thursday February 1, with the metal continuing its fine performance since the turn of 2018. The three-month lead price hit a high of $2,668 per tonne earlier today, the highest since July 29, 2011, and closed just $3 shy of this high level. "The fundamental outlook for lead is strong with low exchange stocks while consumptio...Read More
Comex copper prices were trading in negative territory once again on Thursday February 1 with a bout of poor Chinese data offsetting strong US manufacturing figures. Copper for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.15 cents or 0.1% to $3.1940 per lb. The red metal has failed to set a clear price direction over the past few weeks and inconsistent data r...Read More
Iron ore prices remained largely stable on Thursday February 1 with transactions at Chinese ports and in the seaborne market being concluded at levels close to those a day earlier. Metal Bulletin's 62% Fe Iron Ore Index Today: $72.88 per tonne cfr Qingdao Daily change: down by $0.04 per tonne Month-to-date average: $72.88 per tonne Metal Bulletin's 58% Fe Premium Index Today: $59.59...Read More
Looking back to the last quarter of 2017, the average accuracy of MBR forecasts published in the Steel Market Tracker was 94% (when compared to forecasts published in the September issue). Our forecasts of European flat steel prices proved to be precise once again, with European domestic CRC and HRC prices scoring 99% and 98% accuracy respectively. Although we considered Chinese domestic rebar pri...Read More
The Turkish scrap import market remained quiet on Thursday February 1, with mills holding back in anticipation of a new price level, according to sources.There have been no new transactions heard since a US cargo was sold on January 30 at $348 per tonne cfr for HMS 1&2 (80:20).Suppliers did not want to follow that US cargo and lower their offer prices, Metal Bulletin was told."The mills are t...Read More
Ferro-alloys producer Ferroglobe has successfully completed the acquisition of a 100% interest in Glencore's manganese alloys plants in Mo i Rana (Norway) and Dunkirk (France) from a wholly-owned subsidiary of Glencore International, it said on Thursday February 1. Ferroglobe has received the necessary regulatory approvals in France, Germany and Poland for the purchases, the company added. The new...Read More
Comex copper prices were trading in negative territory once again on Thursday February 1 with a bout of poor Chinese data offsetting strong US manufacturing figures. Copper for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.15 cents or 0.1% to $3.1940 per lb. The red metal has failed to set a clear price direction over the past few weeks and inconsistent data r...Read More
Glencore has set its 2018 production guidance for own-sourced nickel in 2018 at 127,000-137,000 tonnes of nickel metal, much higher than it produced in 2017, according to its production results report published on Thursday February 1. Market participants attribute the higher guidance to the ramp-up of Koniambo after its No 2 furnace was rebuilt in December. Glencore produced 109,000 tonnes of nick...Read More
Stainless steel group Aperam expects a slight quarter-on-quarter improvement in earnings in the first three months of 2018, with higher sales volumes likely to be partially offset by a weaker European ferro-chrome benchmark.It expects earnings before interest, taxes, depreciation and amortization (Ebitda) for the January-March period to be slightly better than the $154 million in October-Dece...Read More
The latest metal markets news and price moves to start the North American day on Thursday February 1.Base metals prices on the London Metal Exchange were largely range bound Thursday morning in London.Here is how the LME base metals complex looked at 11:48am in London time. For a snapshot of our exchange news...Read More
Indonesian miner PT Aneka Tambang's (PT Antam) bauxite production increased 192% to 705,322 wet metric tonnes (wmt) in the financial year 2017, ended on December 31, according to the company.Antam's bauxite sales volume amounted to 838,069 wmt in 2017, a 181% increased from 298,012 wmt in 2016. 71,079 wmt of this total volume was supplied to the Tayan Chemical Grade alumina plant, whilst the remai...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletCIS, export, billet, offered at $505-515...Read More
Brazilian slab producer Companhia Sider??rgica de Pec?(C)m (CSP) has announced that it appointed Cl??udio Bastos its chief executive officer on Thursday February 1, with immediate effect.He replaces Eduardo Parente, who will join the company's board of directors.Bastos was previously financial director at Vale's Indonesian unit and in Vale's Singapore office. He was also...Read More
Demand and prices for Indian finished steel products are likely to be boosted over the coming year after the country's government announced stronger spending on infrastructure in its new budget, Metal Bulletin heard on Thursday February 1.India's budget allocation for infrastructure spending in its 2018-19 financial year, which begins in April, will rise to 5.97 trillion rupees ($93.65 billion), c...Read More
Ukrainian steelmaker Metinvest increased semi-finished steel output in the full year of 2017 by 22% year-on-year, to 2.76 million tonnes, mainly due to a rise in slab production, the company said in its latest report.Metinvest produced 1.34 million tonnes of slabs in 2017, up by 83% year-on-year, amid favorable market conditions - in particular, higher prices.The average annual price for CIS expor...Read More