The escalating China-US trade tensions and China supply-side reforms were in the spotlight at the Base Metals Forum held by Citic Securities this week in Wuxi, Jiangsu province.Held on Thursday July 12, market participants focused on the effect of the trade war and the fundamentals of the policy-driven and volatile aluminium market."We have seen a decline in base metals in response to the US...Read More

Nickel prices on the London Metal Exchange once again fell below $14,000 per tonne at the close of trading on Friday July 13, with broad gains across the complex capped by the ongoing trade dispute between the US and China. The metal's three-month price continues to exhibit volatile price shifts, exemplified in today's intraday trading range of $390 per tonne. "Broad-based weakness in the bas...Read More

Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metals The main union at Escondida, the world's largest copper mine, has rejected the company's latest contractual offer and threatened to strike if BHP do not make substantial changes to its wage offer. Two companies have exited the London Metal Exchange warehousing business in t...Read More

Primary aluminium stocks at the three main Japanese ports (MJP) of Yokohama, Nagoya and Osaka rose 8% month on month in June, according to data from Marubeni Corp released on Friday July 13. The MJP aluminium stocks totaled 306,900 tonnes at the end of June, up 17.9% from the same time last year. Total MJP stocks have continued to rise after a fall in the first quarter with an increase of 6.4% fro...Read More

The main union at Escondida, the world's largest copper mine, has rejected the company's latest contractual offer, the union said on Thursday July 12. The offer, said to include a bonus of 4.5 million Chilean pesos ($7,000) with no base salary increase or schooling benefits was deemed "unacceptable," the union said. "If there is no substantial change, the Union will be...Read More

The latest news and price moves to start the North American day on Friday July 13.Base metals price on the London Metal Exchange edged mostly lower during morning trading, pressured by further uncertainty over US-Sino trade relations after the bilateral trade surplus between the two countries widened to record levels in June.Here's how base metals prices looked at 12pm London time:Read...Read More

The Angolan government has granted four new prospecting concessions for gold, the Macauhub news agency has reported. All four concessions have gone to partnerships formed by the State-owned Empresa Nacional de Ferro de Angola (Ferrangol – the National Iron Company of Angola) with various private enterprises. Together, the concessions cover an area of more than 5 000 km2 and involve an invest...Read More

Chinese steel mills Lianxin Steel and Shandong Laigang Yongfeng have each ordered thermomechanical rebar rolling mills (TMbaR) with capacity for 1 million tonnes per year, equipment manufacturer SMS Group said on Friday July 13."The TMbaR mill for Shandong Laigang Yongfeng's Dezhou site [in Shandong province in eastern China] is part of a capacity conversion program using the electric arc furnace...Read More

Chinese long steelmaker Guangxi Guixin Iron & Steel is to start up a new, more environmentally friendly, electric-arc furnace (EAF) in mid-2019.It will have a tapping weight of 80 tonnes and will replace several smaller EAFs.Guangxi Guixin has a total long steel capacity of 8 million tpy, including 7 million tonnes of bar production and 1 million tpy of wire rod capacity.It runs three 1080 cubic m...Read More

Domestic prices for rebar in Poland are expected to rise with support from good demand and reduced volumes of material in the market, sources told Metal Bulletin on Friday July 13.In the meantime, Metal Bulletin's price assessment for domestic 12mm B500B-grade rebar in Poland was stable week-on-week at 2,250-2,300 zloty ($607-620) per tonne ex-works on July 13.The assessment reflected the latest t...Read More

Prices for coated steel coil products in Turkey were stable in the week ended Friday July 13 with demand in the local and export markets being no better than slow, Metal Bulletin has heard.Domestic pricesOne producer in northern Turkey was offering 0.50mm hot-dipped galvanized coil (HDG) at $770 per tonne ex-works.Another northern producer was offering similar product at $785-800 per tonne ex-work...Read More

Most flat steel prices in Turkey's domestic and import markets were largely unchanged this week, while export prices fell, sources told Metal Bulletin on Friday July 13.Domestic producers have closed their order books for September production, but have not started to offer October production yet.Domestic pricesHot-rolled coil (HRC) producers in Turkey sold material at $605-620 per tonne ex-works f...Read More

The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday July 13:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $10.90-11.05 per lb from $10.75-10.90Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $26.90-27.30 per kg from $26.80-27.10Ferro-molybdenum US 65-70% Mo, $/Ib: $12.20-12.45 per Ib from $12.35-12.55Tungsten European free market...Read More

Key data in the pricing session in the week ending Friday July 13. China  Activity in China's ferro-chrome market was quiet with prices falling due to the production increase that followed the restart of Inner Mongolian smelters.  There was no liquidity and stability in the imported charge chrome market amid a standoff...Read More

Domestic Chinese battery-grade lithium carbonate prices fell again this week due to lackluster demand from consumers, while hydroxide prices stayed firm although lower offers were reported to Metal Bulletin. Chinese battery-grade lithium carbonate prices continued to fall while hydroxide prices were stable on weak demand. Ample availability and lower prices for battery-grade and technical & i...Read More

Indonesia's growing presence in the international market as a stainless steel exporter - made possible by an influx of Chinese-backed producers in the country - presents a potential challenge to China's dominance of the Asian markets, participants told Metal Bulletin.Playing a key role in the market and squeezing China's market share currently is PT Indonesia Tsingshan Stainless Steel, a low-cost...Read More

Pig iron buyers in the United States did not fulfill expectations and resume their booking activities this week, because bids and offers in the market diverged.Metal Bulletin's price assessment for US pig iron imports was unchanged at $410-415 per tonne cfr on Friday July 13 because no new bookings have been heard.Bids from buyers in the country came at $405 per tonne cfr, $5-10 per tonne...Read More

Global scrap prices weakened in most markets except Taiwan during the working week from Monday July 9 to Friday July 13, amid sluggish demand in the major regions.Turkey resumed its deep-sea bookings for August deliveries but at lower prices, which sent the US East Coast export prices down, while the weak demand continued to affect prices in India.But import scrap prices into Taiwan remained stabl...Read More

Turkish steel mills fell quiet again in the scrap markets on Friday July 13, after booking a number of deep-sea cargoes earlier in the week.The steel mills in the country started their deep-sea purchases for August deliveries on Tuesday, and booked six deep-sea cargoes.But the mills were still tentative due to the...Read More

Prices for imports of containerized shredded scrap into India have dropped by almost $10 per tonne this week because demand has been flat, sources told Metal Bulletin on Friday July 13.Metal Bulletin's weekly index for containerized imports of shredded scrap into India dropped by $9.39 per tonne to $371.12 per tonne cfr Nhava Sheva on July 13, from $380.51 cfr Nhava Sheva on July 6.Shredded prices...Read More