Worldwide output of direct-reduced iron (DRI) increased by 7.60% year-on-year in January 2018, driven by higher production from Iran, according to the World Steel Assn (Worldsteel).DRI output was 6.47 million tonnes in January 2018, compared with 6.02 million tonnes one year before, Worldsteel said on Monday February 26.Iran increased its DRI output to 2.06 million tonnes in January 2018, rising b...Read More

The Turkish steel mills stayed back from the scrap markets on Wednesday February 28, booking no deep-sea cargoes, but they are expected to secure more transactions for April, Metal Bulletin was told.Scrap prices were also expected to increase further, amid strong demand from the country's steel producers."I hear that a number of mills are looking for material for April now. I think we will continu...Read More

Vale's Caraj??s-origin 65% Fe iron ore is expected to be sold in 2018 at a premium of $14-15 per tonne over its 62% Fe product, ferrous minerals and coal executive officer Peter Poppinga has said."We are very positive [about the market], because of bullish macroeconomic indicators, rising steel demand globally and high steel prices," he told analysts during a conference call on Wednesday February...Read More

Iron ore prices slid below $79 per tonne cfr China on Wednesday February 28 amid sluggish demand for the steelmaking raw material in the seaborne market. Metal Bulletin's 62% Fe Iron Ore Index Today: $78.61 per tonne cfr Qingdao Daily change: down by $0.54 per tonne Month-to-date average: $77.35 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61.62 per tonne cfr...Read More

Brazilian miner Vale views the gap between high- and low-grade iron ore as a "structural change that will continue to impact the market in the coming years," it said on Tuesday February 27. The move toward a more efficient steel industry, along with the enforcement of stricter environmental policies in China, should support demand for high-quality ores that enable productivity and lower emissions,...Read More

Seaborne coking coal prices rose on Wednesday February 28, with Chinese buyers flagging limited offers of such materials and an unclear outlook for domestic supply as factors generating buying interest. A cargo of premium products was offered at $237 per tonne fob Australia on Global Coal. A bid of $229 per tonne fob was made for the cargo. Tier-two cargoes were heard offered on both cfr China and...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...Read More

The seaborne iron ore market softened on Wednesday February 28 with few bids made in response to the large number of offers, most of them from traders.Key driversChina's benchmark iron ore futures contract retreated for a second day, while spot rebar and hot-rolled coil prices in the country also fell 10-20 yuan ($1.60-3.20) per tonne during the day.With downstream steel demand yet to pick up afte...Read More

The latest news and price moves to start the Asian day on Thursday March 1.Base metals prices on the London Metal Exchange fell across the board at the close on Wednesday February 28, with the complex under pressure from the resurgent dollar, which hit its highest level since January 19. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has lea...Read More

Revenue from the commodities business of the Hong Kong Exchanges and Clearing (HKEX) was HK$1.44 billion ($183.5 million) in 2017, versus HK$1.56 billion in 2016, due to lower trading fees at its London Metal Exchange subsidiary, according to HKEX's financial report published on Wednesday February 28.Trading fees - which are the largest contributor to revenue for the LME - fell by 9% or HK$114 mil...Read More

Comex copper prices softened in the US morning on Wednesday February 28, with a stronger dollar and lower-than-expected Chinese data weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 3.10 cents or 1% to $3.1555 per lb. Earlier, the contract touched $3.1525, the lowest since February 13. Earlier this morning, China's manufa...Read More

The latest metal markets news and price moves to start the North American day on Wednesday February 28. Lead prices on the London Metal Exchange recorded the biggest drop during morning trading following a large stock delivery into LME warehouses. Some 12,375 tonnes were delivered into LME-listed warehouses in Antwerp - taking on-warrant stock levels to 20,250 tonnes. This is the largest lead infl...Read More

Lead prices on the London Metal Exchange recorded the biggest drop during morning trading on Wednesday February 28 following a large stock delivery into LME warehouses. Some 12,375 tonnes were delivered into LME-listed warehouses in Antwerp - taking on-warrant stock levels to 20,250 tonnes. This is the largest lead inflow into Antwerp since 19,900 tonnes were delivered on July 14, 2014. "The deliv...Read More

Key data from the Wednesday February 28 pricing session in Europe.Gallium Metal MB free market $/kg  Key drivers: - Suppliers are reluctant to sell on anticipation of higher prices in the near term, which means there is less metal available in the spot...Read More

The following Metal Bulletin minor metals prices changed on Wednesday February 28:Minor metals Antimony MB free market regulus, $/tonne: $8,650-8,800 per tonne from $8,500-8,800 Antimony MMTA standard grade II, $/tonne: $8,600-8,800 per tonne from $8,400-8,800 Cadmium MB free market min 99.95%, cents/lb: 135-145 cents per lb from 130-140 Cadmium MB free market min 99.99%, cents/lb: 140-155...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

Chinese cobalt producer GEM posted a strong net profit in 2017 against a backdrop of robust sales of battery materials and higher cobalt prices, according to the company's preliminary earnings report released on Tuesday February 27.The Shenzhen-listed company achieved a net profit of 602.8 million yuan ($95.5 million) last year, an increase of more than 125% from the 263.7 million yuan profit post...Read More

The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday February 28:Aluminium ingot LM6/LM25 gravity diecasting ingot, ?/tonne:...Read More

Gold pour at Porcupine mine. Image: GoldcorpAccording to the World Gold Council primary gold production hit another record in 2017 after nine years of growth in output, albeit at a much slower pace.Global gold production totalled roughly 105m troy ounces in 2017. Output is up 525 tonnes or nearly 17m ounces since the start of the decade.The top 10 listed, non-state owned gold miners are responsibl...Read More

As we look back at the career so far of Sean Boyd - Agnico Eagle Mines' vice-chairman and CEO, and The Northern Miner's Mining Person of the Year for 2017 - the opening words of Rudyard Kipling's poem If come to mind: "If you can keep your head when all about you are losing theirs …"In the context of Boyd leading one of the world's great gold mining companies, "keeping your head" translates...Read More