Prices for domestic hollow steel sections have remained stable in Europe this week while customers consider last week's announcement by mills of imminent increases of ?,?20 ($23) per tonne, sources told Metal Bulletin on Wednesday July 4.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe remained unchanged week-on-week on J...Read More

The S&P managed a positive 1H in 2018 despite a major pullback early onThe first half of 2018 is over, meaning we are entering the third quarter, which historically has been the worst quarter of the year. You can see in the tables below it's the only quarter averaging a loss over the past 20 and 50 years. On the bright side, five of the past six third quarters have been positive.These results are...Read More

Despite its lack of bullish fundamentals and the poor price action, Gold is now technically oversold and has reached strong support with sentiment approaching potentially extreme levels. The conditions are in place for a rally. That being said, bearish sentiment by itself is not enough to push Gold beyond a relief rally.While the combination of the net speculative position (CoT) and daily sentimen...Read More

Iron ore export volumes from Brazil increased by 4.51% year on year in June, along with higher fob prices. The country exported 35.31 million tonnes of iron ore last month, compared with 33.79 million tonnes in June 2017 according to figures released by the country's foreign trade ministry, MDIC, on Tuesday July 3. Over the same...Read More

Zinc prices on the London Metal Exchange fell by more than 3% at the close of trading on Wednesday July 4, with the absence of US trading expediting a broad downtick in metals prices. The continuation of growing trade concerns has facilitated market inactivity, and in turn, a broad decline in the complex, while a pullback in global equity markets and a fall in the Chinese yuan has added to bearish...Read More

Gold shows early signs of bottoming out. But only a close today above $1,257 would confirm a short-term bull reversal. Currently, gold (XAU/UD) is trading at $1,257, having clocked a session high and low of $1,260 and $1,254, respectively. The yellow metal created a bullish outside-day candle on Tuesday, signaling the sell-off from the April high of $1,365 may have run out of steam. However, onl...Read More

Domestic prices for mesh-quality wire rod produced and delivered in Southern Europe have risen by ?,?5-10 per tonne over the past week amid supply concerns ahead of an expected preliminary decision in an EU import safeguard case, sources said on Wednesday July 4.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Southern Europe was ?,?530-540 ($617-629) per tonne delive...Read More

Jonathan Berchole has joined BNP Paribas to develop a physical metals trading book and help expand the bank's existing financing business, Metal Bulletin learned on Wednesday July 4. Berchole joined the bank in London this month as head of physical trading, having left Mercuria Energy...Read More

VANCOUVER, BRITISH COLUMBIA / July 4, 2018 / MGX Minerals Inc. ("MGX" or the "Company") (CSE: XMG / OTCQB: MGXMF / FKT: 1MG) is pleased to announce that diamond drilling has commenced at its Koot silicon project ("Koot") north of Cranbrook, BC. and proximate to the Company's Driftwood Creek magnesium project. Preparations are also underway to commence a drill program on the Wonah silicon project...Read More

Prices for hot rolled coil (HRC) in the EU have been largely stable over the past week with buyers holding back from deals, sources told Metal Bulletin on Wednesday July 4.The market was expected to remain in wait-and-see mode until the announcement of a preliminary decision in a regional safeguard investigation.The European Commission opened an investigation into 26 steel products in late March,...Read More

The latest metal markets news and price moves for the start of the North American day on Wednesday July 4. Base metals prices on the London Metal Exchange were mostly lower during morning trading following a poor morning session in SHFE trading and growing concerns of global trade tensions. The three-month copper price reached an intraday low of $6,423 per tonne - around its nine-month low - and c...Read More

Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday July 4.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Wednesday, with copper prices sliding to a near two-month low amid weakness in the yuan versus the dollar and an uptick in trade tensions between the United States and China.C...Read More

   •  Technical buying above a short-term descending trend-channel helped build on overnight goodish rebound from fresh YTD lows and move past 23.6% Fibonacci retracement level of the $1309.30-$1237.97 recent downfall.    •  A modest pickup in the USD demand caps any further up-move, albeit positive short-term technical indicators suggest dip-buying interest...Read More

   •  Overnight rebound supported by the USD retracement/weaker US bond yields.   •  A modest USD uptick/stability in European equities seemed to cap additional gains. Gold built on previous session's goodish rebound from 6-1/2 month lows and continued gaining positive traction for the second consecutive session. The recent US Dollar corrective slid...Read More

SHANGHAI, Jul 4 (SMM) – Manganese prices soared in the second quarter of 2018 as domestic supplies shrank and as production recovered slower than expected on environmental concerns, SMM believed.In negotiations as of Wednesday July 4, spot prices surged to 17,000 yuan/mt ex-works in cash, SMM learned. SMM assessed manganese in major Chinese markets at 16,400-16,600 yuan/mt ex-works...Read More

Jonathan Berchole has joined BNP Paribas to develop a physical metals trading book and help expand the bank's existing financing business, Metal Bulletin learned on Wednesday July 4. Berchole joined the bank in London this month as head of physical trading, having left Mercuria Energy...Read More

The Chinese yuan's recent losses against the US dollar has pressured steel prices in Asia to move down, with continual drops for both flat and long steel products across the region.Traders in the region have dropped prices in a bold move to sell more cargoes before the currency further loses value. Some market participants are betting on more price drops, entering into bigger short-selling positio...Read More

Zinc prices on the London Metal Exchange fell by more than 3% at the close of trading on Wednesday July 4, with the absence of US trading expediting a broad downtick in metals prices. The continuation of growing trade concerns has facilitated market inactivity, and in turn, a broad decline in the complex, while a pullback in global equity markets and a fall in the Chinese yuan has added to bearish...Read More

Brazilian products continued to command a big premium over Australian materials in the seaborne iron ore market on Wednesday July 4.Metal Bulletin 62% Fe Iron Ore Index: $64.20 per tonne cfr Qingdao, down $0.35 per tonne Metal Bulletin 62% Fe Pilbara Blend fines Index: $62.97 per tonne cfr Qingdao, down $0.49 per tonneMetal Bulletin 58% Fe Premium Index: $51.66 per tonne cfr Qingdao, down $0.29 pe...Read More

The seaborne coking coal spot market took a breather on Wednesday July 4 with buyers withdrawing to the sidelines in anticipation of prices to drop. "Coking coal prices are propped up due to speculation and rumors fueling supply concerns but the reason feels weak and unconvincing," a North Asian end-user source said. A South Asian end-user source concurred, saying "the market is definitely going s...Read More