Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices started 2018 on a rise, gaining further ground on Friday January 5 to $76.80 per tonne cfr Qingdao despite the Chinese steel market retreating again.There was barely any movement in the seaborne coking coal market amid a lack of indicative and firm bids, with buyers still trying to figur...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGIHot-rolled coilTurkey, domestic, hot-rolled coil, offered at $620-640 per tonne ex-works, March production.Turkey, export, hot-rolled coil, offered at $...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday January 5:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.20-11.40 per lb from $10.70-11.00 Molybdenum US canned molybdic oxide, $/Ib $10.90-11.15 per Ib from $9.70-9.95 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $26.50-27.00 per kg from $26.20-26.80 Ferro-molybdenum US 6...Read More
Metal Bulletin is extending the deadline to provide feedback on its proposed tungsten concentrates index to Friday January 19. The extension will enable Metal Bulletin to respond to feedback received so far, and further consult with others in the market in light of this feedback. Metal Bulletin will then launch its cif Europe tungsten concentrates index on Friday January 26. The intention is to la...Read More
China's Ganzhou Tungsten Assn (GTA) has raised its price forecast for tungsten products in January, for the second consecutive month, in response to the price rally in recent weeks and the December production cuts.GTA's price forecast for black tungsten concentrates 65% and ammonium paratungstate (APT) are 113,000 yuan ($17,385) per tonne, up 5,000 yuan, and 173,000 yuan per tonne, up 7,000 yuan,...Read More
Key data from Metal Bulletin's Wednesday January 3 pricing session in China.Key data from Metal Bulletin's Wednesday January 3 pricing session in China.Molybdenum concentrate MB Chinese free market, 45% Mo, in-warehouse China, RMB/mtuKey drivers: - Domestic supply of molybdenum concentrates is still tight. - China's molybdenum price...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the key news and market stories on Friday January 5. SHFE copper prices retreated in Asian morning trading on Friday January 5 after surging in the previous afternoon's session, as the market awaits US payroll numbers due out tonight.Check Metal Bulletin's live futures report here. LME snapshot at 0232 London timeLatest 3M LME Pric...Read More
Hernic Ferrochrome has suffered a tailings dam collapse as it prepares to start hosting site visits for prospective buyers, market sources told Metal Bulletin. "The tailings dam collapse happened on Friday December 29, and the surroundings environment has been inspected by experts. Luckily so far the impact on the surrounding environment appears to be very limited," a Mitsubishi...Read More
Prices in the United Kingdom light iron scrap market have rallied this week, picking up where they left off late in 2017, with tight availability encouraging higher offer prices.The current trend toward higher prices started on November 10 last year.Metal Bulletin's price assessment for UK grade-5C ferrous scrap was ?110-135 ($149-183) per tonne on Friday January 5.The market is now at its highes...Read More
The Turkish deep-sea scrap market has remained quiet this week, with mills were seeking rebar sales, while suppliers were struggling with the heavy winter conditions especially in the United States, Metal Bulletin was told on Friday January 5.Turkish steel mills were expected to book more scrap for February, but the supply remained tight and the country's...Read More
Export prices for Brazilian pig iron were unchanged at the beginning of January, amid an inactive market, Metal Bulletin has heard.Buying activity will only resume next week, a local source said on Thursday January 4.As a result of the lack of trading, Metal Bulletin's weekly price assessment for Caraj??s-origin pig iron was stable week-on-week on Friday...Read More
Iron ore prices edged up and remained above $76 per tonne cfr China on Friday January 5 despite a further retreat in Chinese steel prices.Metal Bulletin's 62% Fe Iron Ore Index Today: $76.80 per tonne cfr QingdaoDaily change: up by $0.26 per tonneMonth-to-date average: $75.76 per tonneMetal Bulletin's 58% Fe Premium Index Today: $62.32...Read More
China's hot-rolled coil prices fell on Friday January 5 following weakness in the paper market.DomesticEastern China (Shanghai): 4,250-4,280 yuan ($654-658) per tonne, down by 20 yuan per tonne Northern China (Tianjin): 4,110-4,140 yuan per tonne, down 30 yuan per tonneTrading activity thinned in both the eastern and northern regions after the futures market weakened during the day, according to m...Read More
Iron ore prices gained further ground on Friday January 5 despite the Chinese steel market retreating again.Key driversChina's spot prices for hot-rolled coil shed 20-30 yuan per tonne during the day while those for rebar tumbled 30-130 yuan per tonne.The country's ferrous futures market was rangebound in the morning, and then experienced a V-shaped trend in the afternoon, falling sharply before r...Read More
Base metals prices on the London Metal Exchange mostly stepped slightly lower during morning trading on Friday January 5 but are generally consolidating at higher levels. Aluminium fell $12.50 but is still in a strong position, with supply-side reforms in China continuing to burnish its underlying fundamentals. The three-month price reached a fresh five-year high at $2,290.50 per tonne on December...Read More
Mercury prices continue to jump due to the lack of availability of the minor metal.Prices climbed to $1,700-2,000 per flask on an in-warehouse basis on Friday January 5, up from $1600-1700 per flask on Wednesday and $1,350-1,450 per flask on November 24.Mercury prices last year were $1,050-1,275 per flask and were largely stable until the Minamata Convention - a treaty to curb exposure to the meta...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Manganese flake prices rose sharply this week following reports of production stoppages at the world's biggest producer amid ongoing environmental inspections in China. Metal Bulletin's manganese flake in-warehouse Rotterdam price increased to $1,895-2,000 per tonne on Friday January 5, up 3.9% from Wednesday's pricing session when prices had climbed 5.3%. The world's largest manganese flake...Read More
The following Metal Bulletin minor metals prices changed on Friday January 5:Minor metals Bismuth MB China domestic, yuan/tonne: 69,000-70,500 yuan per tonne from 69,000-71,000 yuan Cobalt MB free market high grade, $/lb: $36.75-37.50 per lb from $36.00-37.40 Cobalt MB free market low grade, $/lb: $35.50-37.00 per lb from $35.00-37.00 Cobalt...Read More
Brazil's silicon metal exports fell 16% in 2017 from a year earlier, affected by the dumping and countervailing duty investigations in the United States. The country shipped abroad 155,429 tonnes of silicon metal last year, down from 184,730 tonnes in 2016, according to figures from Brazil's foreign trade ministry, MDIC. Shipments to the...Read More