The Turkish deep-sea scrap market went quiet on Wednesday January 10, with the mills in the country trying to put downward pressure on prices.But while mills were trying to reduce scrap prices, suppliers remained firm because the heavy winter conditions increased their costs, sources said."The mills went quiet, waiting for a supplier who is in hurry to sell. Five or six Baltic Sea suppliers...Read More
China's coke export offer prices have come down from a peak, in line with domestic prices, but limited downside is expected, Metal Bulletin was told on Wednesday January 10.Metal Bulletin's assessment of export prices for Chinese coke with 65% coke strength after reaction (CSR), 12.5% ash, and in physical sizes of 30-90mm, was $360-365 per tonne fob China for the week ended January 9.This was down...Read More
Iron ore prices experienced a slight dip but managed to stay above $78 per tonne cfr China on Wednesday January 10 amid uncertainties resulting from a forecast cyclone in Australia.Metal Bulletin's 62% Fe Iron Ore Index Today: $78.31 per tonne cfr QingdaoDaily change: down by $0.16 per tonneMonth-to-date average: $76.79 per tonneMetal Bulletin's 58% Fe Premium Index Today: $62.71 per tonne cfr Qin...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 at $77.09 per tonne cfr China, laycan January 28-February 6.Vale, Global Ore, 170,000 tonnes...Read More
Seaborne coking coal prices remain firm, with a January-laycan cargo of premium mid-vol materials changing hands at $259 per tonne fob Australia on Wednesday January 10. A buyer source in north Asia said that the gap between fob Australia and cfr China premium hard coking coal indices should narrow in the coming weeks if weather-related issues surrounding the transportation of the steelmaking raw...Read More
Seaborne iron ore prices retreated for the first time this year on Wednesday January 10 amid uncertainties over whether a forecast cyclone in Australia could result in supply disruptions.Key driversChina's ferrous futures retreated in the afternoon after trending upward in the morning. The benchmark iron ore contract ended slightly lower than a day earlier.A tender for a seaborne cargo of Pilbara...Read More
China's ferrous futures moved upward during morning trading on Wednesday January 10, after posting losses on Tuesday night.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,861 ($592) per tonne, up 51 yuan per tonne May hot-rolled coil: 3,901 yuan per tonne, up 53 yuan per tonne Dalian Commodity Exchange May iron ore: 560.50 yuan per tonne, up 5.50 yuan per tonne May...Read More
Indium prices have risen on strong demand for indium tin oxide (ITO) due to a lack of available stock in China.Prices for indium have climbed while producers reduce output and material supply tightens, market participants said.Metal Bulletin assessed the free market indium price at $265-300 per kg on an in-warehouse basis on Wednesday January 10, up from $250-270 per kg last Friday."There is...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Wednesday January 10:Minor metals Bismuth MB free market, $/lb: $5.00-5.40 per lb from $5.10-5.40 Cobalt MB free market high grade, $/lb: $36.95-37.80 per lb from $36.75-37.50 Cobalt MB free market...Read More
The spot gold price was little changed during Asian morning trading on Wednesday January 10, with the yellow metal coming under pressure from a resurgent dollar and higher US bond yields. The spot gold price was recently quoted at $1,310.60-1,310.90 per oz, up by $0.70 from the previous trading day's close. Trade has ranged from $1,308.40-1,312.55 per oz so far today. The spot gold price remained...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 10:Titanium scrap Turnings, unprocessed type 90/6/4, 0.5-2% Sn...Read More
Unspecified technical issues at Birla Copper's Dahej copper smelter have caused the plant to lower output and to delay scheduled cargoes of copper concentrates or to divert into the spot market, sources told Metal Bulletin.Tonnages due for January and February arrival at Dahej, a 500,000-tonne-per-year smelter in Gujarat in the west of India, have been postponed until later months or are being red...Read More
After a year focused on re-establishing stability, the London Metal Exchange has started 2018 with its attention on driving more liquidity to the bourse by launching the Introducing Broker membership category and broadening its contract portfolio, says senior metals market consultant Martin Hayes. Twelve months ago, it was fair to say that the LME was facing a period of uncertainty - it had lost i...Read More
After a year focused on re-establishing stability, the London Metal Exchange has started 2018 with its attention on driving more liquidity to the bourse by launching the Introducing Broker membership category and broadening its contract portfolio, says senior metals market consultant Martin Hayes. Twelve months ago, it was fair to say that the LME was facing a period of uncertainty - it had lost i...Read More
After a year focused on re-establishing stability, the London Metal Exchange has started 2018 with its attention on driving more liquidity to the bourse by launching the Introducing Broker membership category and broadening its contract portfolio, says senior metals market consultant Martin Hayes. Twelve months ago, it was fair to say that the LME was facing a period of uncertainty - it had lost i...Read More
After a year focused on re-establishing stability, the London Metal Exchange has started 2018 with its attention on driving more liquidity to the bourse by launching the Introducing Broker membership category and broadening its contract portfolio, says senior metals market consultant Martin Hayes. Twelve months ago, it was fair to say that the LME was facing a period of uncertainty - it had lost i...Read More
The fact that gold pricing is trading under pressure is not a big surprise, and actually can be viewed as a well-needed pause in the rally currently underway. After trading to $1238 per ounce in mid-December of last year, gold prices have gained almost $90 before hitting resistance at $1327 late last week.Historically speaking, rallies in the precious yellow metal will move pricing roughly $100 du...Read More
(Kitco News) - The countdown begins - in one month athletes from around the world will converge in Pyeongchang, South Korea to compete for their country’s honor and the coveted Olympic medals.In total, only about 50 ounces of gold was used to create all the gold medals that will be handed out.On its website, the International Olympic Committee said that the South Korean medals were designed...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session weaker Tuesday. A solid bounce in the U.S. dollar index early this week is putting price pressure on the gold and silver markets. Some normal profit-taking and chart consolidation is also featured after gold prices hit a 3.5-month high last week. February Comex gold was last down $7.30 an ounce at $1,313.10. March Comex silver...Read More