Weak demand for Turkish long steel products in the country's export market and Section 232 uncertainty kept Turkish steel producers out of the deep-sea scrap markets on Wednesday March 21.After stepping back from the deep-sea scrap markets on March 9, when the United States applied a 25% duty on imports of steel products following the Section 232 investigation, there has been no...Read More
Iron ore prices moved slightly above $67 per tonne cfr China on Wednesday March 21, tracking increases in the paper markets.Metal Bulletin's 62% Fe Iron Ore IndexToday: $67.25 per tonne cfr Qingdao Daily change: up by $0.31 per tonne Month-to-date average: $72.33 per tonne Metal Bulletin's 58% Fe Premium Index Today: $55.56 per tonne cfr Qingdao Daily change: up by...Read More
Seaborne iron ore concentrate market softened last week, albeit at a slow rate of decline than prices for fines.The weekly Metal Bulletin 66% Fe Iron Ore Concentrate Index was $94.64 per tonne cfr China last Friday March 16, down $2.93 per tonne - or 3% - compared with a week earlier. The daily Metal Bulletin 65% Fe Iron Ore Index averaged $87.12 per tonne cfr China last week, down $3.70 per tonne...Read More
Seaborne iron ore prices recovered some losses on Wednesday March 21 tracking a small rebound in the paper market.Key drivers China's benchmark May iron ore futures contract bounced back in the afternoon to end the day in positive territory, following gains on Tuesday night and a retreat on Wednesday morning.But steel prices - in the both physical and futures markets - continued to soften during t...Read More
Seaborne coking coal prices retreated on Wednesday March 21, with market participants anticipating further weakness amid ample offers of premium products.Two cargoes of premium products changed hands below previously transacted levels during the day. The cargoes "unbranded products" were traded at $204 per tonne fob Australia and $207 per tonne fob Australia on Global Coal, sources told Metal Bull...Read More
China's ferrous futures, particularly the steel contract, continued to fall during morning trading on Wednesday March 21, with physical prices coming under pressure in recent days. Futures closing prices - morning sessionShanghai Futures Exchange May rebar: 3,626 yuan ($573) per tonne, down 50 yuan per tonne May hot-rolled coil: 3,738 yuan per tonne, down 101 yuan per tonne Dalian Commodity Exchan...Read More
Key data from the Wednesday March 21 pricing session in London.Cadmium min 99.95% MB free market Cts per lb cif global main port New price Previous price Change to midpoint of range Midpoint % change 150-160 145-160 2.5 1.6% Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday March 21:Aluminium scrap Group 1 pure 99% & litho: ?1,400-1,450 per tonne from ?1,410-1,460 Commercial...Read More
"There has been sort of the perfect storm of factors tightening financial conditions...Banks do have tremendous liquidity still, but it's at a higher price...Read full newsRead More
Beijing has decided to increase the cost of oil storage to discourage pure-play speculators from flooding in the market and unleashing price volatility that could spell doom for the brand-new contracts...Read full newsRead More
WTI/RBOB extended yesterday's gains this morning, after bullish API data, and continued higher after DOE data confirmed the surprise crude build and decent sized product draws. Production rose to a new record high.Read full newsRead More
The tripling in lithium prices over three years is poised to fuel a multi-billion dollar rush of deals as major players jostle for dominance to supply the metal needed for the electric vehicle battery revolution.Read full newsRead More
John Paulson's hedge fund, which a little less than a decade ago was the most desired place for buyside employment on Wall Street, is imploding.Read full newsRead More
Civil libertarians and security researchers have long been concerned that otherwise inadmissible intelligence from the agency is used to build cases against Americans though a process known asRead full newsRead More
The Canadian Loonie and Mexican Peso jumped late on Tuesday after a report by the Globe and Mail that the U.S. government has dropped a demand that all vehicles made in Canada and Mexico for export to the United States contain at least 50% U.S. content.Read full newsRead More
New Cold War fears grow, and so do those defense budgets.Read full newsRead More
Deutsche Bank shares are down 6%, at their lowest since Nov 2016 (near post-crisis lows), after warning that euro strength and higher funding costs will weigh on revenue in the securities unit this quarter (just a week after the lender voiced optimism about the outlook for the year).Read full newsRead More
Three years after Mark Zuckerberg made Brian Action a billionaire, by paying $22 billion for WhatsApp, the messaging app's co-founder has a clear message for the billions of social media drones worldwide - #deletefacebook.Read full newsRead More
In response to Trump's trade wars, China is preparing to hit back with its own countertariff aimed at Trump's support base, including levies targeting U.S. agricultural exports from farmbelt states in retaliation to the mounting trade offensive from Washington.Read full newsRead More