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:Global Ore, Vale, 170,000 tonnes of 62%...Read More
The seaborne coking coal market is off to a sluggish start for 2018 with no new firm offers or bids heard while participants continued to sit on the sidelines. "The same offers have been lying there for over a month now but they are unable to spark any interest due to high prices. They will have to be lowered by $10-20 per tonne in order to get the trades done," a northern Chinese mill source told...Read More
China's ferrous futures rose during morning trading on Tuesday January 2 as sentiment improved in the new year, leading to the recovery of trading appetite. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,871 yuan ($594) per tonne, up 70 yuan per tonne May hot-rolled coil: 3,920 yuan per tonne, up 69 yuan per tonneDalian Commodity Exchange May iron ore: 543.50 yuan...Read More
Prices in China for hot-rolled coil narrowed upward in Shanghai on Tuesday January 2 following the rising paper market, but dipped in Tianjin on poor demand.DomesticEastern China (Shanghai): 4,290-4,310 yuan ($658-661) per tonne, narrowed upward by 10 yuan per tonneNorthern China (Tianjin): 4,150-4,180 yuan per tonne, down by 20 yuan per tonneThe northern Chinese market remained weak amid poor dem...Read More
China's domestic rebar prices rose on Tuesday January 2 amid gains in the billet and futures markets. Domestic Eastern China (Shanghai): 4,280-4,330 yuan ($657-665) per tonne, up 30 yuan per tonne Northern China (Beijing): 4,020-4,050 yuan per tonne, up 20 yuan per tonne Billet prices rose during the New Year weekend, which returned some bullishness to the rebar market. The increases in the paper...Read More
The Singapore Bullion Market Association (SBMA) has appointed Martin Huxley, managing director of INTL Asia, as its chairman effective December 14, 2017, the association said on Tuesday January 2.INTL Asia is a subsidiary of INTL FCStone. Huxley succeeds Sunil Kashyap from the Bank of Nova Scotia who has ended his two-year chairman tenure. Huxley joined INTL FCStone in...Read More
Base metals traded on the London Metal Exchange are for the most part consolidating this morning, Tuesday January 2, with lead the exception where prices are up 0.6% at $2,514 per tonne. The rest are little changed with copper prices at $7,254 per tonne, but trading volume has been high at 11,821 lots as of 7.30am London time. This comes after an overall positive close to the year on Friday Decemb...Read More
Two newly-built antimony smelters outside China will bring production into the physical market in 2018, significantly altering the global antimony supply structure.The two smelters, one located in Oman and the other in Tajikistan, have production capacities of 20,000 tonnes per year (tpy) and 5,000 tpy, respectively, representing approximately 12% and 3% of average annual world antimony produ...Read More
Gold prices were up inthe Tuesday morning Asia trading session as the dollar weakened further.The spot gold price was recently quoted at $1,306.35.50/1,306.65 per oz, up $3.7 from the previous trading day's close. Trade has ranged from $1,304.25 to $1,307.50 per oz so far today. The US dollar index on Tuesday morning was down 0.08 to 92.22."As global complacency over the trajectory of US rates con...Read More
Spanish stainless steelmaker Acerinox will invest ?,?5 million ($6 million) in a new cutting and slitting line at its Columbus stainless steel mill in South Africa, it said last week.The new line will allow the Columbus mill, which has capacity for 500,000 tonnes per year, to increase exports by 3,000 tonnes per month, Acerinox said on December 26."This new equipment will also increase direct sale...Read More
European alloy surcharges for January deliveries of grade-304 cold-rolled (CR) stainless steel sheet have fallen month-on-month amid lower nickel costs.The January alloy surcharge for 2mm grade-304 CR stainless steel sheet - compiled by Metal Bulletin based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,240-1,301 ($1,488-1,561) per tonne.This represents a fall of ?,?59-80 per tonne...Read More
With resignations, acquisitions and co-operation agreements, the last few weeks of 2017 were unusually busy for many European steel companies. Metal Bulletin brings together some of the more important stories from the festive period.British Steel chief resigns British Steel has started 2018 without a permanent chief executive officer, after the resignation of Peter Bernscher on December...Read More
Prices are likely to rise in the eurozone manufacturing sector this year following the purchasing managers' index (PMI) for the region reaching a record high in December 2017, data organization IHS Markit said on Tuesday January 2.December's final manufacturing PMI for the eurozone was 60.6, compared with 60.1 in July, amid strong expansions in new orders and output. The reading was the highest re...Read More
By Maki ShirakiNAGOYA, Japan, Jan 1 (Reuters) - Japan's Mitsubishi Heavy Industries Ltd is on track to deliver its repeatedly delayed commercial jet by mid-2020, the head of its aircraft unit said, despite a risk of an order cancellation.The Mitsubishi Regional Jet (MRJ) aircraft has been delayed five times from an original delivery target of 2013, leading to spiralling costs. News this month tha...Read More
DAKAR, Dec 31 (Reuters) - Congolese security forces shot dead two men in the capital Kinshasa on Sunday during protests against President Joseph Kabila's refusal to step down from office, Human Rights Watch said. The two men were killed outside St. Alphonse church in Kinshasa's Matete district, the advocacy group's Central Africa director, Ida Sawyer, told Reuters. (Reporting by Aaron Ross; Edit...Read More
(Updates death toll)KINSHASA, Dec 31 (Reuters) - Congolese security forces killed at least four people on Sunday during protests against President Joseph Kabila's refusal to step down from office, according to the police and rights groups. Three people were killed in altercations with security forces in the capital, Kinshasa, police spokesman Pierrot Mwanamputu said. Rights groups said at least t...Read More
KINSHASA, Dec 31 (Reuters) - Congolese police and soldiers on Sunday set up checkpoints across the capital Kinshasa and fired teargas at opposition supporters outside a church where they had gathered to prevent planned protests against President Joseph Kabila. Authorities ordered internet and SMS services cut in response to calls by Catholic activists to march after Sunday mass. The activists are...Read More
For the third consecutive week, gold has rallied. This culminates with today’s nine dollar move, effectively taking prices above $1300 on a closing basis. Beginning in mid-December when the former correction ran its course, gold has closed higher week in and week out. The net result of this rally, when added to gains realized in 2017, is a 13% increase in value.While a 13% price gain is abso...Read More
(Adds details, context)GOMA, Democratic Republic of Congo, Dec 30 (Reuters) - D emocratic Republic of Congo's government on Saturday ordered telecommunications providers to cut internet and SMS services across the country ahead of planned anti-government demonstrations.Grassroots Catholic activists have called for marches in major cities on Sunday to demand that President Joseph Kabila commit to...Read More
GOMA, Democratic Republic of Congo, Dec 30 (Reuters) - D emocratic Republic of Congo's government on Saturday ordered telecommunications providers to cut internet and SMS services across the country ahead of planned anti-government demonstrations on Sunday."It is for reasons of state security ... In response to violence that is being prepared ... the government has the duty to take all measu...Read More