There were no queues at London Metal Exchange-approved warehouses in December for any metal, according to data released by the exchange this week. In November, just one queue remained at LME warehouses. ISTIM Metal LLC in New Orleans had an eight-day queue for copper, lead, aluminium and zinc. This follows the end of the infamous Access World Vlissingen queue in September 2017 after six years...Read More
The latest metal markets news and price moves to start the North American day on Thursday January 11.Base metals prices on the London Metal Exchange continued to strengthen during morning trading, with zinc prices leading the pack.The three-month zinc price hit a high of $3,375 per tonne and looks set to push toward the $3,400 per tonne resistance barrier. It is being supported by further cancelat...Read More
Asian zinc premiums have increased for 2018 contracts, compared with a year ago, on the back of supply tightness concerns, multiple sources told Metal Bulletin.The bulk of China contracts for 2018 have been settled at premiums of $155-165 per tonne on cif Shanghai basis, up around $20 per tonne from 2017, according to Metal Bulletin's assessment. "The Shanghai import arbitrage opened twice in 2017...Read More
Brazilian steel mill CSN increased its flat steel prices to the local distribution chain by 12% on Wednesday January 10, according to sources involved in the negotiations.The upswing was blamed on higher input costs and rising steel prices in the global market, mostly in China."Final import prices were higher than local ones," a Brazilian market participant said.The adjustment...Read More
Turkish long steel export prices have gone up over the past week with recovering demand and rising imported scrap costs, sources said on Thursday January 11.Two Turkish mills were heard selling rebar to the United States at $575-580 per tonne fob actual weight, while a small cargo was sold to Africa at $585 per tonne.One of the US cargoes weighed 35,000 tonnes, while the other's tonnage was not cl...Read More
Germany-based steel distributor Kl??ckner & Co is looking for a potential buyer for its Brazilian arm, several sources have told Metal Bulletin.The company has hired advisory firm Clairfield to seek an investor to purchase its assets in the country, according to sources and a document seen by Metal Bulletin.The decision comes after Kl??ckner developed a plan to focus on business with higher margin...Read More
Egypt's steel billet import prices increased this week, while domestic rebar prices remained unchanged in the week to Thursday January 11. Egypt's steel billet import prices increased this week, while domestic rebar prices remained unchanged in the week to Thursday January 11. "There [has been] no buying this week. People want to wait and see,"...Read More
Turkish long steel producer Kardemir opened its domestic long steel sales book on Thursday January 11 and closed it again just two hours later, sources told to Metal Bulletin.Kardemir cut its rebar price by TRY30 ($8) per tonne to TRY2,170 ($573) per tonne ex-works for 12-32mm...Read More
Molybdic oxide and ferro-molybdenum prices have been underpinned over the past week due to steady trading rates, buoyant conversion costs and strong underlying consumption in the steel sector, which is expected to persist in the near term.Molybdic oxide prices have pared gains slightly in the second week of trading in 2018, with the market at $11-11.30 per lb, in-warehouse Rotterdam on Wednesday J...Read More
Key data from Metal Bulletin's Wednesday January 10 pricing session in China.Tungsten concentrates 65% WO3 in warehouse China RMB/tonne Key drivers: - Ammonium paratungstate (APT) smelters in Ganzhou, Jiangxi province are still running low operation rates. - Demand for tungsten concentrates from APT smelters decrease, so [domestic] tungsten concentrates prices dipped slightly. Key quotes: - "...Read More
Key data from Metal Bulletin's Wednesday January 10 pricing session in China.Molybdenum concentrate MB Chinese free market, 45% Mo, in-warehouse China, RMB/mtuKey drivers: - Low availability continues in China. - Suppliers held back from selling. - Prices of ferro-molybdenum in international markets rose further. Key quotes: "A deal for 224...Read More
South African manganese ore shipments have more than doubled in five years, coming in at just under 14.7 million tonnes in 2017, early indications suggest. Shipping trends show shipments from the country rose by 25% in 2017 compared with 2016, when the figure was 11.7 million tonnes.In 2012, South African exports narrowly exceeded 7 million tonnes. High manganese ore prices since mid-late 2016 hav...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 61% Fe Pilbara Blend fines, sold...Read More
Iron ore prices rose just above $79 per tonne cfr China on Thursday January 11 following news of a cyclone developing off the coast of Western Australia resulting in the closure of the Port of Port Hedland.Metal Bulletin's 62% Fe Iron Ore Index Today: $79.08 per tonne cfr Qingdao Daily change: up by $0.77 per tonne Month-to-date average: $77.08 per tonne Metal Bulletin's...Read More
Seaborne iron ore prices picked up on Thursday January 11 following news of a cyclone in Western Australia that led to the closure of Port of Port Hedland.Key driversTropical Cyclone Joyce formed off the west coast of Western Australia earlier in the day and is expected to intensify in the evening as it moves toward the coast in a south to south-westerly direction, the Pilbara Ports Authority said...Read More
Prices for Australia-origin premium hard coking coal were stable on Thursday January 11, though buyers are expecting a gradual decline in the weeks ahead. Several offers for cargoes of premium products were heard made to the ex-China market amid lackluster interest for imports among Chinese buyers. "Some miners have indicated availability for February cargoes but are awaiting firm bids before...Read More
China's ferrous futures largely trended downward during morning trading on Thursday January 11 with the exception of the coking coal contract, which ended the session higher.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,844 ($58) per tonne, down 17 yuan per tonne May hot-rolled coil: 3,880 yuan per tonne, down 14 yuan per tonne Dalian Commodity Exchange May iron o...Read More
Key data from Metal Bulletin's Wednesday January 10 pricing session in Europe.Gallium Metal MB free market $/kg Key drivers: - Major producers have run out of inventory - Producers in China are not increasing output, despite a significant reduction over recent months- Supply from earlier...Read More
Base metals prices on the London Metal Exchange are generally higher this morning, Thursday January 11, with aluminium leading the way with a 0.8% gain to $2,203 per tonne, while tin is the one bucking the trend with a 0.3% decline. Nickel prices are unchanged, while the rest are up by between 0.2% and 0.4%, with copper prices up by 0.3% at $7,169 per tonne.Volume has been average, with 6,933 lots...Read More
The spot gold price rose during Asian morning trading on Thursday January 11 after the dollar continued to drift lower following news that Chinese officials have recommended the country slow or halt its purchases of US bonds.The spot gold price was quoted at $1,319.05-1,319.35 per oz as of 11.39am Shanghai time, up by $2.05 from the previous session's close. Trade has ranged from $1,317.05-1,320.7...Read More