Demand for high-quality iron ore pellets is likely to be supported by steel mills' attempts to reduce their emissions levels, according to Humberto Oliveira, Vale's head of technical marketing for the direct-reduction (DR) market."The scenario of improved steel profitability, high coking coal prices and the environmental restrictions imposed during 2017 in China meant that steel mills increased th...Read More

India's largest iron ore miner NMDC lowered its domestic prices last week, in line with the softening overseas prices. The miner fixed its lump ore price at 2,990 rupees ($44.68) per tonne and iron ore fines price at 2,560 rupees per tonne, it said last week. Both prices are down 100 rupees per tonne from the level announced on April 4 when the miner had rolled over its prices set in March. NMDC's...Read More

Physical iron ore prices and premiums remained weak on Thursday April 26 amid China's softening steel and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $66.28 per tonne cfr Qingdao, down by $0.10 per tonneMetal Bulletin 58% Fe Premium Index: $55.90 per tonne cfr Qingdao, down by $0.04 per tonneMetal Bulletin 65% Fe Iron Ore Index: $84.60 per tonne cfr Qingdao, down by $0.10 per tonneMetal...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, 170,000 tonnes of 61% Fe Pilbara Blend fines, sold at $65.37 per tonne cfr China, laycan May 8-17.Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 61% Fe...Read More

Marex Spectron's global head of market analytics, Guy Wolf, has moved to Singapore to enhance the London Metal Exchange broker's analytical offering and to supplement its existing execution expertise in the region, Metal Bulletin understands. Wolf has been with the LME broker since January 2012 and previously performed the role from London. He is the developer...Read More

The arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday April 26*Copper -$118.72 (-751.83 yuan) Aluminium -$487.66 (-3,088.28 yuan) Zinc -$54.49 (-345.08 yuan) Nickel -$800.37 (-5,068.55 yuan) *Metal Bulletin calculates the physical...Read More

Base metals were broadly lower on the London Metal Exchange during morning trading on Thursday April 26, with zinc prices continuing to fall after a 20,000-tonne delivery into Antwerp. The metal's three-month price hit a low of $3,083.50 per tonne, drifting closer to the 2018 low of $3,070 per tonne.The inflow is in addition to Wednesday's 30,000-tonne delivery into Antwerp, which was the largest...Read More

Key data from the Wednesday April 25 pricing session in Shanghai.Please click on the above tables to view more in-depth pricing data about these assessments in Metal Bulletin's price book.Key drivers- China's domestic cobalt metal price edged down by 5,000 yuan ($791) per tonne during the mid-week pricing session.- A brief bout of consolidation in international cobalt prices amid their recent rall...Read More

Base metals prices on the London Metal Exchange were weaker across the board by an average of 0.6% this morning, Thursday April 26. Aluminium, nickel and zinc led the decline with losses ranged between 0.7% and 1%, while the rest were all down by 0.3%, with the three-month copper price at $6,955 per tonne.This follows a mixed performance on Wednesday when consolidation set in following recent week...Read More

Underlying demand for stainless steel will remain solid in both Europe and the United States in the second quarter of 2018, Finnish stainless steelmaker Outokumpu said.Stainless steel base prices will trend higher in the US, supported by steel import tariffs, the company said on Thursday April 26.Meanwhile, domestic prices in Europe will remain under pressure due to competition and growing volumes...Read More

Losses in job and output terms in metals-consuming sectors in the United States in the fallout from the Section 232 probe threaten to outweigh any benefits to domestic metal-producing industries from the tariffs the US government subsequently introduced.In turn, the prices of metals that are strongly correlated to the performance of metal-consuming sectors - such as AISI 4130, a widely used medium...Read More

China's ferrous futures were largely stable during morning trading on Thursday April 26 following a subdued steel market a day earlier. Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3.568 yuan per tonne, up 6 yuan per tonne October hot-rolled coil: 3,677 yuan per tonne, up 9 yuan per tonne Dalian Commodity Exchange September iron ore: 467 yuan per tonne, up 2 yu...Read More

East Asia's stainless steel market continued to strengthen despite persistently soft regional demand due to nickel prices remaining at high levels.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,170-2,300 per tonne cif East Asian ports for the week ended Wednesday April 25, up $20-70 per tonne from a week earlier. Metal Bulletin's assessment of...Read More

Key data from the Wednesday April 25 pricing session in Shanghai.Please click on the above tables to view more in-depth pricing data about these assessments in Metal Bulletin's price book.Key drivers- Limited trade activity reported in the spot market.- Market activity slowed ahead of the Labour Day in China (April 29-May 1), with market...Read More

Canadian miner Agnico Eagle Mines Ltd on Thursday said it is planning to divest all of its cobalt assets in Canada and that it sold some gold interests in the United States.Agnico said it also started a strategic review on selling about 2,100 hectares of the Coleman and the South Lorrain cobalt-rich properties in Canada.The company sold its gold interests in Nevada to a unit of Newmont Mining Corp...Read More

The purge began overnight when Deutsche fired 300 U.S.-based investment bankers on Wednesday with another 100 pink slips expected over the next 24 hours.Read full newsRead More

While other central banks have been busy increasing their gold reserves, Canada sold off all its gold reserves in 2016. The Bank of Canada ranks last globally out of 100 major central banks.Read full newsRead More

Chilean Finance Minister Felipe Larra?-n and his Mining counterpart Baldo Prokurica said today that the government that came to power in March will ensure state copper giant Codelco receives capital incentives so that it can continue to grow.Following Codelco's annual shareholder meeting, Larra?-n and Prokurica said the new capitalization process and the amount that will be provided have to be def...Read More

Canada's GoldCorp (TSX:G, NYSE:GG) is investing $3.7 million to acquire a 14% interest in a newly formed gold exploration company born Thursday from the merger of Matamec, Canada Strategic Metals and Sphinx Resources.The new explorer, named Quebec Precious Metals Corp. (QPM), will focus on the James Bay area, bordering the provinces of Quebec and Ontario, where it will own three projects until now...Read More

Newmont Mining (NYSE:NEM) logged Thursday a higher-than-expected quarterly profit on the back of higher gold prices during the first three months of the year, as investors have returned to safe haven assets due to ongoing geopolitical risks.The US miner, the only gold company that forms part of the S&P500 index, earned a quarterly profit of $192 million, or 36 cents a diluted share, compared...Read More