The following Metal Bulletin minor metals prices changed on Friday January 26:Minor metals Bismuth MB China domestic, yuan/tonne: 70,500-71,000 yuan per tonne from 69,000-71,000 yuan Cobalt MB free market high grade, $/lb: $37.20-38.40 per lb from $37-38.05 Cobalt...Read More
An overview of China's minor metals markets in the week of January 22-26 and the reasons for any price moves.Read More
Base metals prices on the London Metal Exchange are mixed this morning, Friday January 26, with the complex up by an average of 0.2%.Three-month nickel prices ($13,800 per tonne) are strongest with a 0.6% gain, lead prices ($2,599 per tonne) and copper prices ($7,143 per tonne) are up by 0.5% and 0.4% respectively, while aluminium, zinc and tin are down between 0.1% and 0.2%. This week has seen co...Read More
Summary of China's minor metals exports and imports in December and the full year 2017.Unwrought bismuth metal exports Month total: 232 tonnes On month: -29.05% On year: +53.78%* Full-year total: 2,580 tonnes On year: -14.95%* Wrought bismuth metal exports Month total:...Read More
Finnish stainless tube maker Stalatube will invest ?,?20 million ($24.86 million) in expanding its capacity in Finland and opening a new service centre in Poland, it said on Friday January 26. "We will install a new tube welding line at our Finnish mill [in Lahti, southern Finland] for special sizes," ceo Jukki Nummi told Metal Bulletin on...Read More
China's ferrous futures mostly fell during morning trading on Friday January 26 following the release of the latest Chinese customs data a day earlier. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,944 ($623) per tonne, down 15 yuan per tonne May hot-rolled coil: 3,963 yuan per tonne, down 5 yuan per tonne Dalian Commodity Exchange May iron ore: 519.50 yuan per to...Read More
China's domestic stainless steel prices were unchanged over the past week with soft demand offsetting the supporting effects of costlier raw materials. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,500-15,200 yuan ($2,290-2,401) per tonne including VAT for the week ended Thursday January 25, the same as a week earlier.Nickel p...Read More
Peruvian steel producer Aceros Arequipa will invest $180 million to construct a new electric-arc furnace (EAF) at its Pisco works to reduce its dependence on imports of billet.The new facility will have an annual production capacity of 1.25 million tonnes per year, with its start-up expected in mid-2020, the firm said in a note to the country's securities regulator, SMV, late on Thursday January 2...Read More
Metal Bulletin is proposing to update the specifications for its India domestic billet and rebar assessments to provide a clearer distinction between the primary and secondary markets in India. The specifications for domestic billet will be updated to better reflect price assessments for secondary-grade IS 2831 billet, 125x125mm thick. The specifications for domestic rebar will be updated to bette...Read More
China's ferrous futures mostly fell during morning trading on Friday January 26 following the release of the latest Chinese customs data a day earlier. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,944 ($623) per tonne, down 15 yuan per tonne May hot-rolled coil: 3,963 yuan per tonne, down 5 yuan per tonne Dalian Commodity Exchange May iron ore: 519.50 yuan per to...Read More
Peruvian steel producer Aceros Arequipa will invest $180 million to construct a new electric-arc furnace (EAF) at its Pisco works to reduce its dependence on imports of billet.The new facility will have an annual production capacity of 1.25 million tonnes per year, with its start-up expected in mid-2020, the firm said in a note to the country's securities regulator, SMV, late on Thursday January 2...Read More
Metal Bulletin is proposing to update the specifications for its India domestic billet and rebar assessments to provide a clearer distinction between the primary and secondary markets in India. The specifications for domestic billet will be updated to better reflect price assessments for secondary-grade IS 2831 billet, 125x125mm thick. The specifications for domestic rebar will be updated to bette...Read More
China's ferrous futures mostly fell during morning trading on Friday January 26 following the release of the latest Chinese customs data a day earlier. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,944 ($623) per tonne, down 15 yuan per tonne May hot-rolled coil: 3,963 yuan per tonne, down 5 yuan per tonne Dalian Commodity Exchange May iron ore: 519.50 yuan per to...Read More
Peruvian steel producer Aceros Arequipa will invest $180 million to construct a new electric-arc furnace (EAF) at its Pisco works to reduce its dependence on imports of billet.The new facility will have an annual production capacity of 1.25 million tonnes per year, with its start-up expected in mid-2020, the firm said in a note to the country's securities regulator, SMV, late on Thursday January 2...Read More
Metal Bulletin is proposing to update the specifications for its India domestic billet and rebar assessments to provide a clearer distinction between the primary and secondary markets in India. The specifications for domestic billet will be updated to better reflect price assessments for secondary-grade IS 2831 billet, 125x125mm thick. The specifications for domestic rebar will be updated to bette...Read More
(The opinions expressed here are those of the author, a columnist for Reuters. Repeats Thursday's column with no changes to text)By Andy HomeLONDON, Jan 25 (Reuters) - China is awash with aluminium. "Illegal" capacity has been closed and smelters in the region around Beijing are, to varying extents, curtailing output to comply with the winter environmental restrictions. But stocks regis...Read More
(Kitco News) - Expectations around which way the precious metals will be heading in 2018 have changed for the better, according to an informal survey conducted by nonprofit Professional Numismatists Guild (PNG).Gold is projected to go up to at least $1,460 an ounce by the end of the year, while silver is estimated to hit $40 and platinum to reach $1,150, said members of the Guild’s Accredite...Read More
Traders and investors were taken on a roller coaster ride in terms of price swings in both the dollar and gold markets during today’s trading session. Gold had been trading higher for the better part of the morning session, posting gains as it still had momentum from the previous day's rally.In fact, gold futures traded to a new yearly record high, taking prices to $1365.40 an ounce in early...Read More
(Kitco News) - Bitcoin and cryptocurrencies should not be considered a substitute for gold, according to the World Gold Council. In a report published Thursday, the WGC said that gold possesses several characteristics that differentiate it from digital currencies. The most notable factor is that cryptocurrencies have yet to prove their worth as a strategic component to a portfolio, unlike gold. &...Read More
(Kitco News) - Gold prices have fallen to session lows as President Donald Trump showed his support for a strong U.S. dollar.In an interview with CNBC at the World Economic Forum in Davos Switzerland, Trump said that he wants to see a stronger U.S. dollar, adding that Wednesday’s comments from Treasury Secretary Steven Mnuchin were taken out of context.“The dollar is going to get stron...Read More