Turkish billet prices have fallen over the past week because of the poor demand in the domestic and export markets and the lower costs for imported scrap, while demand for imported billet has recovered slightly, sources said on Thursday February 1.Metal Bulletin's weekly price assessment for billet imports into Turkey was $505-520 per tonne cfr on the day, down from the $515-525 per tonne of last...Read More
Bahrain rebar producer Unirol is planning to increase its rebar production capacity to 300,000 tonnes per year from 200,000 tpy, a company executive told Metal Bulletin on Thursday, February 1. The company also plans to start exporting rebar by 2019, mainly to the Gulf Co-operation Council (GCC) countries. Rebar demand in the Middle East is currently moderate, while most...Read More
Turkish domestic rebar and wire rod prices have gone down over the past week, on falling imported scrap costs and weak demand, sources told Metal Bulletin on Thursday February 1.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $550-565 per tonne ex-works on the day, down from the $570-580 per tonne of last week.The...Read More
Slowing spot demand caught up with the molybdic oxide and ferro-molybdenum markets this week, with prices dropping after suppliers cut their offer prices to book profits following a strong rally in recent weeks, sources told Metal Bulletin. Metal Bulletin assessed molybdic oxide prices at $11.80-12.00 per lb in-warehouse Rotterdam on Wednesday January 31, down 20 cents from Friday. The market...Read More
Summary of Glencore's production results for the fourth quarter and full year 2017.(Own-sourced output volume, year-on-year % change) Copper Q4: 363,200 tonnes, 0% 2017: 1,309,700 tonnes, -8% Zinc Q4: 262,800 tonnes, -14% 2017: 1,090,200 tonnes, 0% Lead...Read More
Battery recycling is a viable way to ensure sustainable supplies of lithium and cobalt, but scalability, collaboration and primary raw material prices will all be key to its success, according to Christian Hagel? 1/4 ken, Umicore's director of EU government affairs. "Closing the battery loop [is] more than just getting access to material. Recycling is a sustainable source of cobalt, lithium and ni...Read More
Key data from Metal Bulletin's Wednesday January 31 pricing session in China.Tungsten concentrates 65% WO3 in warehouse China RMB/tonne Key drivers: - Chinese tungsten concentrates offers rose amid low availability, with some miners leaving ahead of the country's February 15-21 break for Chinese New Year. - Appreciation of the Chinese yuan against the dollar has supported tungsten export prices, a...Read More
Brazilian iron ore export volumes rose by 5.29% year-on-year in January, according to figures released by national foreign trade ministry MDIC on Thursday February 1.Iron ore shipments amounted to 30.44 million tonnes, against 28.91 million tonnes in the corresponding month last year.Export revenues, meanwhile, dropped by 5.55% in the...Read More
The London Metal Exchange has appointed four market-makers to its 2018 market-making programme for its steel scrap and rebar contracts, it said in a notice to members this week.Three liquidity providers - Alpha Academic, Ferrometrics and Gerald Metals - were appointed on January 1, 2018, with...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
The decarbonization of the transport industry played a huge part in the precious metals story in 2017 when palladium exceeded platinum for the first time in 16 years, Hunter Hillcoat told Metal Bulletin.Investec topped the Apex 2017 price prediction table for both the precious metals (97.9% accuracy) and iron ore categories (90.7% accuracy). "2017 was a good year for precious metals all in all but...Read More
Prices in the physical iron ore market were rangebound on Thursday February 1 amid uncertainties over Chinese policies aimed at cutting emissions.Key driversTalk that emerged a day earlier about the possibility of an extension of restrictions on blast furnace operating rates until May 15 in China's top steelmaking province of Hebei continued on Thursday.But according to the province's official mic...Read More
The seaborne coking coal market held steady on Thursday February 1 after a cargo fetched a higher price earlier this week and the flurry of transactions last week. Offer prices for premium low-vol materials were reported to be firm at around $220 per tonne cfr China, though there was no buying interest heard at this level. China's domestic coking coal prices are firm this week amid tight supply, s...Read More
Key data from the Wednesday January 31 pricing session in Europe:Germanium Metal Rotterdam $/kg Key drivers: - An operation disruption at Teck's Trail Operations in January continues to drive prices higher - Production shutdowns in China's Nanjing and Yunnan provinces...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
China's ferrous futures had little movement during morning trading on Thursday February 1 following talk about the possible extension of steelmaking restrictions in Hebei province.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,952 yuan ($627) per tonne, down 1 yuan per tonne May hot rolled coil: 3,979 yuan per tonne, up 9 yuan per tonne Dalian Commodity Exchange Ma...Read More
China's currency appreciation and rising nickel prices fueled gains in East Asia's stainless steel market over the past week.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm cold-rolled coil was $2,250-2,300 per tonne cif East Asian ports for the week ended Wednesday January 31, up $100-150 per tonne from $2,100-2,200 per tonne cif a week earlier.Metal Bulletin's assessment of...Read More
As China's copper smelters are looking to import more blister copper, an intermediate product of refined copper production, to fill the supply gap arising from the drastic drop in the scrap import quota this year, Metal Bulletin is looking to provide regular trackers on the refining charges (RCs) of the increasingly popular product. For the first 11 months 2017, China had imported 731,339 tonnes o...Read More
The Brazilian long steel market was largely stable in January, but prices are now expected rise and a government decision on whether to allow ArcelorMittal Brasil to take control of Votorantim Siderurgia's long steel assets is imminent.That transaction is currently under review by the tribunal of Brazil's competition regulator, Cade, which is composed of six commissioners and a chairman, ArcelorMi...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in January 2018.The case list below includes only updates.(1) BRAZIL HRC(2)...Read More