Producers of hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's central region, near Moscow, were bearish, trying to stimulate sales. Metal Bulletin's weekly assessment of Russia-origin 4mm HR sheet prices fell again this week, to 43,700-44,900 roubles ($695-699) per tonne cpt Moscow on Monday July 2, including VAT, from 44,700-44,950 ($710-714) roubles the previous week."Offers are unch...Read More
Plate prices in the United States rose for a second consecutive week on long lead times for spot orders and tight supplies resulting from Section 232 tariffs on imported steel.American Metal Market's price assessment for cut-to-length plate stands at $48 per hundredweight ($960 per ton), up 1.1% from $47.50 per cwt previously and up 3.2% from $46.50 per cwt a month ago.Plate prices are also up 41....Read More
New tariffs threatened by the United States on imports of cars from Europe could jeopardize as many as 1 million jobs in manufacturing and 3.3 million jobs in the retail sector, according to the European Union.The EU made its comments in documents submitted to the US Department of Commerce as part of that country's continuing Section 232 national security investigation into imports of cars, SUVs,...Read More
Market activity was focused on downstream silico-manganese and ferro-manganese products in China last week after steel mills put out tenders at higher prices in anticipation of higher-priced trades in the weeks ahead. Semi-carbonate manganese ore cif Tianjin prices unmoved 44% manganese ore cif Tianjin ticks upward Ferro-manganese Chinese free market surges European manganese al...Read More
Ammonium paratungstate (APT) prices continued to weaken last week, with the recent tightness subsiding and spot activity slowing down. Chinese, European APT prices move lower Spot activity slows down Partial APT production restarts in Jiangxi province follow environmental inspections in the region The downtrend in the Chinese APT export market continued on low buying interest from outside buy...Read More
Panasonic is looking for consistent and lower lithium prices where all parties, producers as well as consumers, can enjoy adequate profits, according to the company's executive vice president for global procurement. Speaking at Industrial Minerals' 10th Lithium Supply & Markets conference in Las Vegas on Thursday June 28, Masaharu Nagata said Panasonic is willing to make multi-year commitments to...Read More
Key data from the pricing session in the week ended Friday June 29. China Chinese stainless steel mills released higher tender prices for July. Prolonged ferro-chrome smelter shutdowns have continued to tighten the market and boost prices. Imported UG2 chrome ore prices dropped due...Read More
Due to an input error, Metal Bulletin's ferro-chrome China spot 6-8% carbon, on 50% chrome basis, delivered duty paid prices was published incorrectly on Friday June 29.Metal Bulletin has corrected its ferro-chrome China spot 6-8% Carbon, on 50% chrome basis, delivered duty paid price, which was published incorrectly on...Read More
The Chinese domestic ferro-silicon market has bounced in the past week due to a fall in production on a combination of government pollution controls and prohibitively expensive electricity costs; meanwhile, the European market has climbed after third-quarter deliver settlements were agreed above the previous bottom in spot prices. China domestic market bounces due to falling supply amid cuts ...Read More
Swedish state-owned iron ore producer LKAB has applied for a new environmental permit that would allow it to increase output at its main mine in Kiruna, northern Sweden, the company said on Monday July 2."To achieve the planned increase in production, Kiruna should have a new environmental permit in place no later than at the turn of the year 2019-20. So it's crucial that the environmental assessm...Read More
Turkish steel producers extended their silence in the deep-sea scrap markets on Monday July 2, but are expected to resume buying soon for August deliveries.However, the producers are waiting to see the level of demand for finished steel products before buying more scrap, according to market participants."Turkish mills ended their July bookings and will probably wait for a while to see the...Read More
(Kitco News) - Gold and silver prices are solidly lower and trading near their daily lows in early-afternoon U.S. trading Monday. Gold hit a 12-month low and silver futures hit a seven-month low. A higher U.S. dollar index is a negative for the precious metals to start the trading week. August gold futures were last down $10.00 an ounce at $1,244.40. September Comex silver was last down $0.303 at...Read More
(Kitco News) - Money managers have reversed to a tiny net-short position in gold futures, the first time they have not been net bullish in more than two years, according to the most recent weekly data from the Commodity Futures Trading Commission.During the week-long period to June 26 that was covered by the report, Comex August gold fell by $18.70 to $1,259.90 an ounce, while July silver lost 7.3...Read More
Pig iron export prices from Brazil remained unchanged last week, with most producers were already sold out amid rebounding domestic demand. Metal Bulletin's weekly price assessment for pig iron exports from Brazil was $390-395 per tonne fob for material from the northern Caraj??s region on Friday June 29, while the assessment for south-eastern Minas Gerais region was $375-380...Read More
LONDON (Reuters) - The dollar edged higher on Monday, closing in on last week's one-year high, as investors ramped up bets that escalating trade tensions between the U.S. and its trade partners will hurt the world's biggest economy the least for now.Tension is growing ahead of a July 6 deadline when Washington is due to impose $34 billion of tariffs on Chinese exports, with two surveys of Chinese...Read More
LONDON, July 2 (Reuters) - Copper prices hit three-month lows on Monday as the market priced in weaker demand in top consumer China, which is embroiled in the trade spat with the United States even as its manufacturing sector slows.Benchmark copper traded down 0.5 percent at $6,590 a tonne in official rings from an earlier $6,550 a tonne, its lowest since March 26. Prices of the metal used widely...Read More
Turkish domestic scrap prices have remained largely stable over the past week, with demand for material being moderate, sources said on Monday July 2.Only one steel mill changed its buy price for auto bundle scrap over the past week, while the rest kept their prices unchanged.Long steel producer ID??, in the Izmir region, increased its buy price for auto bundle scrap by TRY10 per tonne to TRY1,520...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-terma charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tre...Read More
Prices for iron ore lumps remained strong on Monday July 2 despite a few transactions involving fines being concluded below prevailing levels.Metal Bulletin 62% Fe Iron Ore Index: $64.54 per tonne cfr Qingdao, down $0.48 per tonne Metal Bulletin 58% Fe Premium Index: $51.92 per tonne cfr Qingdao, up $0.42 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91.60 per tonne cfr Qingdao,...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, 100,000 tonnes of 61% Fe Pilbara Blend fines, sold at $62.38 per tonne cfr China, laycan July 17-26.Rio Tinto,...Read More