Base Metal Stocks Articles

SMM Morning Comments (Jan 2)

Jan 02 2018 / Staff reporter

SHANGHAI, Jan 2 (SMM)? 1/4 ?Copper: LME copper is set to see a correction following 15 consecutive days of increase and bulls taking profits. While it is expected to trade at $7,180-7,320/mt today, the SHFE 1803 copper is expected to trade at 55,200-56,000 yuan/mt. Trading liquidity in the spot market is set to recover and we see discounts at 220-150 yuan/mt today.Aluminium: LME aluminium set a ne...Read More

SMM Morning Comments (Jan 2)

Jan 02 2018 / Staff reporter

SHANGHAI, Jan 2 (SMM)? 1/4 ?Copper: LME copper is set to see a correction following 15 consecutive days of increase and bulls taking profits. While it is expected to trade at $7,180-7,320/mt today, the SHFE 1803 copper is expected to trade at 55,200-56,000 yuan/mt. Trading liquidity in the spot market is set to recover and we see discounts at 220-150 yuan/mt today.Aluminium: LME aluminium set a ne...Read More

DAILY SCRAP REPORT: Deep-sea market quiet, mills expected to book more scrap for February

January 02, 2018 / Cem Turken

The Turkish deep-sea scrap market remained silent on Tuesday January 2, as suppliers remained out of the market, sources told Metal Bulletin.Steel mills in the country paused their deep-sea bookings two weeks ago, but are expected to book more cargoes for February.However, suppliers have stayed away during the New...Read More

Turkey does away with rebar import duty

January 02, 2018 / Cem Turken

Turkey's ministry of economy removed the country's import duty on rebar on Monday January 1, sources told Metal Bulletin this week.The ministry had previously cut the import tax to 10% from the previous 30% on July 28, due to high domestic rebar prices.Metal Bulletin's weekly price assessment for domestic...Read More

Brazil's primary aluminium export volumes fall in December

January 02, 2018 / Danielle Assalve

Brazil's primary aluminium export volumes dropped 24.1% year on year in December, according to preliminary figures released by the country's foreign trade ministry, MDIC, on Tuesday January 2.Shipments totaled 19,489 tonnes last month, down from 25,683 tonnes in December 2016. This was also a decline from November 2017's level of 20,821 tonnes, according to...Read More

LIVE FUTURES REPORT 02/01: Comex copper price starts new year on wrong foot

January 02, 2018 / Dalton Barker

Comex copper prices consolidated in the US morning on Tuesday January 2 after trading around a four-year high at the end of 2017. Copper for March settlement on the Comex division of the New York Mercantile Exchange dipped 1.20 cents or 0.4% to $3.2885 per lb. Earlier today, prices were in positive territory after Chinese manufacturing data surprised to the upside. But after closer inspection and...Read More

FORECAST: Planned mining projects will boost Chile's copper output by 13.9% by 2028 - Cochilco

January 02, 2018 / Danielle Assalve

Chilean copper mine production is expected to reach 6.32 million tonnes per year in 2028, an increase of 13.9% from 2016 levels, the country's copper commission, Cochilco, found. Such a growth estimate is "based on the levels of certainty of the mining projects contemplated in the 2017 investments portfolio," Cochilco said in a recent study. Without these mining projects, Chile's copper mine produ...Read More

NORTH AMERICAN MORNING BRIEF 02/01: LME base metals on strong footing; seaborne iron ore market gains; 2018 previews

January 02, 2018 / Tanya Ashreena

The latest metal markets news and price moves to start the North American day on Tuesday January 2.Base metals prices on the London Metal Exchange have started the year in a strong position with prices mostly in positive territory during morning trading today.This comes following a positive end to the year last week where copper hit a near four-year high and most metals closed near to their 2017 y...Read More

2018 PREVIEW: Galvalume sales to stand out in Brazilian flat steel market

January 02, 2018 / Felipe Peroni

Sales of aluminium-zinc-coated coils are expected to stand out in Brazil in 2018, as demand for roof and construction materials is set to recover. The so-called galvalume, a steel product coated with both aluminium and zinc, is being increasingly used among roof and gutter producers to supply industrial clients, large constructions and infrastructure works. Apparent consumption of galvalume i...Read More

LIVE FUTURES REPORT 02/01: LME base metals start 2018 on strong footing; nickel rally continues

January 02, 2018 / Alice Mason

Base metals prices on the London Metal Exchange have started the year in a strong position with prices mostly in positive territory during morning trading on Tuesday January 2. This comes following a positive end to the year last week where copper hit a near four-year high and most metals closed near to their 2017 year highs. The three-month nickel price rallied 3% at the close on Friday and is tr...Read More

Russia's Severstal set to increase PPGI output at Cherepovets mill

January 02, 2018 / Marina Shulga

Severstal, Russia's major steelmaker, has increased the output of pre-painted galvanized iron (PPGI) at its Cherepovets unit by 50% with the addition of a new production line.The new PPGI workshop, which took two years to complete, is able to produce 200,000 tonnes per year, thereby increasing output by more than half, the steelmaker said on Friday December 29."After MCW#3 [metal coating workshop...Read More

Ilva avoids January closure threat after offer to review environment plan

January 02, 2018 / Lee Allen

Italian steelmaker Ilva is set to continue production in January after local politicians suspended a precautionary request that the company's plant in Taranto, southern Italy, be closed because of opposition to proposed environmental reforms.In late November, Michele Emiliano, the governor of the southern Italian region of Puglia, and Rinaldo Melucci, the mayor of Taranto, appealed against the Ita...Read More

GULF STEEL BILLET, REBAR: Billet, rebar import prices rise, domestic rebar prices stable

January 02, 2018 / Serife Durmus

Prices for imported steel billet and rebar in the UAE and Saudi Arabia have increased, while domestic rebar prices in the UAE have remained stable, sources told Metal Bulletin this week. Demand for locally produced rebar, meanwhile, was strong in and market participants expect prices to increase. Billet Iranian mills were offering billet at $535-540 per tonne cfr to the UAE, while billet from Gulf...Read More

Semi-finished Steel Products Trade Log, January 2, 2018

January 02, 2018 / Staff reporter

The latest bids, offers and deals in the global markets for steel billet, steel slab and bloom. Latest transactions: billetBilletIran, export, billet, traded at $509-510 per tonne cfr,...Read More

Long Steel Products Trade Log, January 2, 2018

January 02, 2018 / Staff reporter

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarTurkey, export, rebar, offered at $565-570 per tonne cfr, theoretical weight, to the UAE.Turkey,...Read More

MARKET REPORT: High-grade manganese ore prices dip with silico-manganese futures

January 02, 2018 / Janie Davies

High-grade manganese ore prices edged lower on Friday December 29 as fresh customs data showed rising imports to China and silico-manganese futures prices looked weaker. Metal Bulletin's 44% manganese ore index, cif Tianjin dropped 5 cents to $6.88 per dry metric tonne unit (dmtu). Metal Bulletin's 37% manganese ore index, fob Port Elizabeth rolled over at $5.79 per dmtu, equivalent to $...Read More

Liberty House agrees to buy Glencore's Tahmoor Australian coking coal mine [UPDATED]

January 02, 2018 / Viral Shah

GFG Alliance, the owner of international metals group Liberty House, has signed a binding agreement to acquire Glencore's 2 million-tpy Tahmoor metallurgical coking coal mine in New South Wales, Australia, it said on Tuesday January 2.The acquisition is expected to be concluded during the first quarter of 2018, following the completion of "customary conditions".Liberty House declined to disclose t...Read More

2017 REVIEW: India's ferrous scrap market choked by new regulations, competition from Pakistan

January 02, 2018 / Lee Allen

The Indian imported ferrous scrap market spent much of 2017 under pressure from new government regulations and the ability of Pakistani counterparts to pay higher prices.The Indian import ferrous scrap market spent much of 2017 under pressure from new government regulations and the ability of Pakistani counterparts to pay higher prices.The introduction of the goods and services tax (GST) in July,&...Read More

IRON ORE PRICES: Benchmark index approaching $75 per tonne cfr China

January 02, 2018 / Sophie Zhao

Iron ore prices jumped to almost $75 per tonne cfr China on Tuesday January 2 amid higher billet and port prices.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.71 per tonne cfr Qingdao Daily change: up by $2.10 per tonne Month-to-date average: $74.71 per tonne Metal Bulletin's 58%...Read More

Seaborne iron ore market gains some strength in New Year

January 02, 2018 / Metal Bulletin Editorial

The seaborne iron ore market received some bolstering on the first working day of 2018, with prices for port materials as well as billet rising as well. Key drivers In China's Tangshan, the price of billet rose 40 yuan ($6) per tonne over the weekend to 3,710 yuan per tonne. The price rose a further 20 yuan per tonne on Tuesday to 3,730 yuan per tonne.Premiums for index-linked January-delivery Cap...Read More

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