Doe Run Peru's Cobriza copper mine and La Oroya polymetallic smelter will be auctioned separately on different dates in March and April in the hopes that this could finally attract buyers for the assets.Cobriza's first round of auction is scheduled for March 1, with the other rounds booked for March 15 and April 2, liquidator Dirige said to Metal Bulletin.Meanwhile, the auction dates for the smelt...Read More
Comex copper prices moved higher in the US morning on Monday January 22, gaining support from further losses on the dollar index. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.55 cents or 0.5% to $3.2030 per lb. Emerging demand outside of China and supply-side uncertainty...Read More
Aurubis AG has acquired Codelco's share in Deutsche Giessdraht, the copper wire rod plant in Emmerich, Germany, that both producers jointly owned, Aurubis said on Monday January 22. The transaction is subject to approval by Germany's federal anti-trust office. The financial terms of the transaction were not disclosed. Before the acquisition, Aurubis had a 60% stake in Deutsche Giessdraht and Chile...Read More
The latest metal markets news and price moves to start the North American day on Monday January 22.Base metals prices on the London Metal Exchange were higher across the board in morning trading, with the dollar still weak.The three-month lead price remains robust on Monday. It climbed above $2,600 per tonne this morning, before retreating slightly, supported by tightness in the market and a bulli...Read More
Base metals prices on the London Metal Exchange were higher across the board in morning trading on Monday January 22, with the dollar still weak. The three-month lead price remains robust on Monday. It climbed above $2,600 per tonne this morning, before retreating slightly, supported by tightness in the market and a bullish tone for sister-metal zinc. "A growing market deficit, ongoing tightness i...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Monday January 22* Copper -$56.44 (-362.69 yuan) Aluminium -$492.77 (-3,166.58 yuan) Zinc -$164.87 (-1,059.48 yuan) Nickel -$364.27 (-2,340.83 yuan) *The physical arbitrage numbers...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday January 22, with the complex up by an average of 0.2%. Three-month copper prices ($7,096 per tonne) are up the most with a 0.7% gain, while nickel, zinc and lead prices are up by around 0.3% and aluminium and tin prices are little changed.Volume has been average with 6,376 lots traded as of 6.59am L...Read More
The decision by the Brazilian government to suspend anti-dumping duties against hot-rolled coil (HRC) imports from China and Russia was motivated not only by fears that the measure would injure consuming sectors, but also by concerns that it would affect cooperation between the countries."The imposition of the [anti-dumping] measure could affect the political agenda of economic cooperation with tw...Read More
Crude steel output in Brazil increased by 9.90% year-on-year in 2017, according to figures released by national steel institute A??o Brasil on Monday January 22.Production reached 34.36 million tonnes, against 31.27 million tonnes in 2016.Last year's performance was slightly higher than A??o Brasil's forecast for November output of 34.15 million tonnes.But the institute noted that Brazilian crude...Read More
A new mill with capacity for 300,000-500,000 tonnes per year of reinforcing steel "could be the solution to a supply gap looming over the UK in the next decade," Andy Kirkcaldy, chairman of the British Independent Reinforcement Fabricators Association (Birfa), said on Monday January 22.Domestic rebar demand in the UK is expected to rise to 1.23 million tpy by 2030, up from 843,000 tonnes in 2015,...Read More
Chinese ferro-silicon prices have dropped for a third week in a row amid a resumption in production in key producing Ningxia province, while the European market reported deals within the current record high and prices in the United States were also unchanged amid tight availability. Chinese consumers bid lower for ferro-silicon but most capacity still idled Europe assessment holds at high,...Read More
Production of manganese ore at South32's South Africa Manganese operation rose by 28% quarter on quarter and 22% on an annual basis in the second fiscal quarter ended December 31, 2017, the company said last week. South Africa Manganese produced 633,000 tonnes of manganese ore in the December quarter last year, up from 517,000 tonnes in the same period of 2016. This brought total output for the ha...Read More
Due to a technical issue, Metal Bulletin's weekly assessment of the European tungsten APT price did not appear in the Metal Bulletin price book on Friday January 19. The price book has since been updated with the correct prices appearing for this date. Price affected: Tungsten APT European free market $ per mtu The price continues to be a weekly price published every Friday by 3pm London time. If...Read More
Manganese ore buyers secured cheaper offers for low-grade ore last week when they returned to the market for March material. Low-grade manganese ore prices falter even as activity picks upHigh-grade ore quotations stand firmOre buyers favor seaborne cargoes over port stocksAlloy prices stable in India and EuropeUS alloy prices strengthen on spot activity uptick amid harsh weather conditions Low-g...Read More
Turkish steel mills continued their deep-sea scrap bookings for February and March on Monday January 22 with prices remaining largely stable.A steel mill in the Iskenderun region booked a US cargo, comprising 12,000-15,000 tonnes of plate and structural scrap (P&S) at $373 per tonne and 6,000 tonnes of shredded at $368 per tonne, while the rest of the 38,000-tonne cargo was HMS 1&2 (80:20) at $363...Read More
Turkish domestic scrap prices continued to increase amid strong demand over the past week, sources said on Monday January 22.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was $1,300-1,440 ($342-379) per tonne delivered, up from last week's $1,260-1,400 per tonne.The upward movement came after several steel mills raised their buy prices for the materi...Read More
Iron ore prices experienced little movement on Monday January 22 amid inactivity in the seaborne market. Metal Bulletin's 62% Fe Iron Ore Index Today: $76.61 per tonne cfr Qingdao Daily change: down by $0.14 per tonne Month-to-date average: $76.65 per tonne...Read More
The seaborne iron ore market saw little activity on Monday January 22, but premiums for index-linked cargoes of high-grade fines have fallen below $2 per tonne while those for lumps continue to rise. Key drivers Premiums for Pilbara Blend fines and Carajas fines have both fallen below $2 per tonne now that most mills have completed their restocking of seaborne cargoes scheduled for delivery in Feb...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, 70,000...Read More
The seaborne coking coal market was stable on Monday January 22 with buyers still not budging despite offers falling slightly. Metal Bulletin's indices were all unchanged for the day, at $212.66 per tonne cfr China and $232.13 per tonne fob Australia for premium hard coking coal, and $193.85 per tonne cfr China and $187.29 per tonne fob Australia for hard coking coal."Offers for premium cargoes ha...Read More