Base metal prices on the London Metal Exchange were all higher during morning trading on Monday January 15, reflecting a further weakening in the dollar.Zinc's continues to set fresh multi-year highs - it peaked at $3,440 per tonne this morning, its highest since August 2007.Available LME zinc stocks continue to fall - a further 10,000 tonnes of metal were cancelled in New Orleans this morning, wh...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday January 15*Copper -$98.74 (-636.76 yuan) Aluminium -$445.37 (-2,872.21 yuan) Zinc -$170.85 (-1,101.84 yuan) Nickel -$621.95 (-4,011.01 yuan) *The physical arbitrage numbers...Read More
Base metals prices on the London Metal Exchange are stronger across the board this morning, Monday January 15, with the complex up by an average of 1.2%. Copper ($7,248 per tonne) and nickel ($12,905 per tonne) lead the advance with rises of 1.9%, while tin lags behind with a 0.1% gain to $20,300 per tonne. Volume has been high with 13,854 lots traded, with 6,586 lots of that being copper. The pre...Read More
Good morning from Metal Bulletin's office in Shanghai, as we bring you the latest news and pricing stories on Monday January 15.Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Monday after consolidation set in following last week's gains, with only aluminium and nickel prices moving higher so far in the morning.Check Metal Bulletin's live futur...Read More
The Brazilian steel institute, A??o Brasil, was "surprised" when the country's finance ministry accepted that the adoption of anti-dumping tariffs against imports of hot-rolled coil (HRC) from China and Russia would be "detrimental" to the national industrial chain."It is strange that the [finance] ministry publicly acknowledges an issue that will be discussed in a meeting of ministries that has y...Read More
Crude steel production volumes in Sweden increased by 2.01% year-on-year in 2017, according to statistics compiled by the country's steel producers' association, Jernkontoret.Swedish steel output reached 4,713,000 tonnes in 2017, compared with 4,620,000 tonnes in the previous year, Jernkontoret said.Output volumes in 2017 were greater than...Read More
Jiyashi Steel, located in 6th October city just outside Cairo in Egypt, started producing rebar on Saturday, October 13, the Arab Iron & Steel Union (AISU) said. The company will produce 240,000 tonnes per year in the first stage of operation, after an initial investment of E ?500 million ($28.21 million) in the facility. Another 360,000 tonnes...Read More
Egypt's El-Garhy Steel is working with an investment bank on an initial public offering (IPO) that will advance its plans to put up 25% of its shares for trading on the country's stock exchange in the second half of 2018, it said on Sunday January 14.It announced its plans to be listed on the exchange in August 2017.El-Garhy plans to increase its production capacity to 2.4 million tonnes...Read More
Spot prices for ammonium paratungstate (APT) climbed last week in Europe, buoyed by tightening availability of the material and strong downstream demand, as the market considered the effects of Xiamen Tungsten being temporarily denied its export license.Metal Bulletin assessed APT prices in a range of $310-318 per mtu, cif Rotterdam, on Friday January 12. This was up by 0.9% week-on-week from $307...Read More
Chinese ferro-silicon prices have dropped for a second week in a row amid a resumption in production in key producing Ningxia province, while the European market reported deals totaling 300 tonnes within the record high price range. China market under renewed supply pressure Chinese suppliers turn to export markets European market price range narrows at high US market supported...Read More
Chrome ore and ferro-chrome prices in China strengthened over the past week as alloy production costs rose and smelters prepared for cutbacks. Ore and alloy prices propel each other in ChinaFurther price strength predicted amid production cuts, rising costsPrices edge higher in South KoreaAlloy prices stir in EuropeUS market steady with suppliers maintaining high offers Metal Bulletin's UG2 chrome...Read More
The Turkish deep-sea scrap market remained silent on Monday January 15 because of limited supplies and poor demand from the Turkish steel mills.The mills have booked a number of deep-sea cargoes for February, but were still expected to book more for the month.However, the supply of material, especially from the United...Read More
Turkish domestic scrap prices have continued to increase in line with rising imported scrap values, sources said on Monday January 15.A number of steel mills in the country have raised their buy prices for auto bundle scrap by TRY10-35 per tonne over the past week.Alloy long steel producer Asil ??elik raised its buy price for the...Read More
Iron ore prices dropped below $77 per tonne cfr China on Monday January 15, on a lack of trading after both the steel and futures markets suffered losses. Metal Bulletin's 62% Fe Iron Ore Index Today: $76.59 per tonne cfr Qingdao Daily change: down by $1.46 per tonne Month-to-date average: $77.13 per tonne Metal Bulletin's 58% Fe Premium...Read More
Trading activity in the seaborne coking coal market was muted on Monday January 15, though offers on an online trading platform have retreated. Cargoes of premium hard coking coal with a February laycan were offered at around $250 per tonne and $260 per tonne fob Australia on the platform, according to market sources. "There is no justification for such high prices now that the supply situation is...Read More
The seaborne iron ore market experienced inactivity on Monday January 15 with offers and bids diverging amid losses in China's steel and futures markets.Key driversChina's ferrous futures largely stayed in negative territory at the start of the week, with the benchmark iron ore contract ending 2% lower than the settlement price last Friday.The country's spot rebar and hot-rolled coil prices also f...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, tender, 170,000 tonnes of...Read More
Import prices for steel billet in Southeast Asia widened downwards this week as lower offers for China-origin billet had a negative impact on price negotiations.Metal Bulletin's weekly price assessment for billet imports in Southeast Asia was $530-545 per tonne cfr in the week ending Monday January 15, down $5 per tonne at the lower end of the range from $535-545 per tonne cfr....Read More
China's steel futures rose during morning trading on Monday January 15 while the steelmaking raw materials contracts were little changed from their opening price at the end of the session.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,787 ($586) per tonne, up 24 yuan per tonne May hot-rolled coil: 3,829 yuan per tonne, up 23 yuan per tonne Dalian Commodity Exchange...Read More
China's prices for hot-rolled coil decreased again on Monday January 15 after buying interest thinned in the wake of a slump in the billet market over the weekend.DomesticEastern China (Shanghai): 4,120-4,170 yuan ($638-646) per tonne, down 30 yuan per tonne Northern China (Tianjin): 3,920-4,950 yuan per tonne, down 60-70 yuan per tonneThe price of billet fell 120 yuan per tonne over the weekend,...Read More