The Italian steel distribution network faces a shake-up from ArcelorMittal's efforts to meet its anti-trust obligations to acquire steelmaker Ilva.The European Commission (EC) EC has requested the "sale availability" of four ArcelorMittal CLN Distribuzione Italia (AM CLN) steel service centers (SSCs), Cesare Vigan??, the managing director of ArcelorMittal CLN Distribuzione Italia (AM CLN), said."T...Read More
Full Article: SWOT Analysis:By: Frank HolmesStrengthsThe best performing metal this week was silver, down 0.68 percent. According to the National Association of Realtors, sales of previously owned U.S. homes fell in May for a second month due to a lack of inventory and higher asking prices. Data shows that the median sale price increase 4.9 percent year-over-year to a record of $264,800.Full Arti...Read More
Prices for CIS export billet fell on Thursday June 28 due to slow trading in the country's key markets of Turkey and the wider Middle East, sources told Metal Bulletin.Metal Bulletin's CIS billet export index was $518 per tonne fob Black Sea on Thursday, compared with $520 per tonne fob Black Sea on June 27.CIS mill offers were predominantly around $520-525...Read More
The latest metal markets news and price moves for the start of the North American day on Thursday June 28.Zinc prices on the London Metal Exchange climbed 1.5% during morning trading, buoyed by a fresh cancelation of more than 15,000 tonnes in New Orleans, while a healthy US dollar index adds further pressure to the complex.Pushing back above $2,900 per tonne over the morning, zinc prices are taki...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday June 28.Base metals prices on the Shanghai Futures Exchange were generally up during Asian morning trading on Thursday, with the complex continuing to benefit from easing concerns surrounding global trade tensions. Check Metal Bulletin's live futures report here.Steel and aluminium pu...Read More
SHANGHAI, Jun 28 (SMM) – Nonferrous metals futures rose across the board on Thursday June 28 except for SHFE tin. Lead led the gains again with a rise of nearly 3%. Zinc went up nearly 1.5%, nickel rose over 1%, while aluminium and copper inched up.The ferrous complex mostly gained, except for coking coal. Rebar, coke, and hot-rolled coil rose over 1%. Iron ore went up 0.86%.Copper: The SHFE...Read More
SHANGHAI, Jun 28 (SMM) – Silicon producers in Yunnan province showed less enthusiasm in production as silicon prices have been in a downward trend for over a month, SMM learned on Thursday June 28.In fact, prices are approaching the costs of production of these plants. As of Thursday, #553 non-oxygen silicon metal traded at 11,300 yuan/mt at Kunming port in Yunnan, down 100 yuan/mt...Read More
SHANGHAI, Jun 28 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index went up 0.64% to 95.3 overnight, on track for its second day of gains as trade-related worries eased following Washington’s less confrontational approach to Chinese investment. The upbeat economic data released on Wednesday also accounted for the g...Read More
Silver is fighting to remain above $16, but there's two reasons the whole number support might not hold. Here's the details...Update: Silver just lost $16:We really want to stay above the December 11, 2017 closing price of $15.72.Support zones are around $15.92 and $15.75.Silver just went on it's summer sale.See the Monday SD Outlook and Wednesday SD Midweek for fundamental arguments on why we may...Read More
Base metals prices on the London Metal Exchange closed mostly in negative territory on Thursday June 28, with lead edging 1.5% lower amid broad downward trends in tin and copper. Although lead had previous shown some resilience to the recent slowdown across the complex, prices dropped below $2,400 per tonne for the first time since May 18. Broad strength in the dollar continues to weigh on th...Read More
One of the first decisions investors make when buying Silver Bullion is whether to go with a "round" or a "coin". But, what are those in the first place?Silver Coins vs RoundsIs there is difference?Yes indeed, there's a key difference.A silver coin, such as 1 oz American Silver Eagles, contain a minimum of one troy ounce of .999 fine silver. Being a silver coin, by definition, the American Silver...Read More
Mainstream iron ore prices stayed rangebound on Thursday June 28 while high-grade lumps and fines were able to fetch higher premiums.Metal Bulletin 62% Fe Iron Ore Index: $64.44 per tonne cfr Qingdao, down $0.16 per tonneMetal Bulletin 58% Fe Premium Index: $52.02 per tonne cfr Qingdao, down $0.47 per tonneMetal Bulletin 65% Fe Iron Ore Index: $91.10 per tonne cfr Qingdao, up $0.50 per tonneMetal...Read More
Harvey says were fast closing in on the 'Exchange for Physical' record setting month of April. Here's the details...by Harvey Organ of Harvey Organ BlogJUNE 27/HUGE CHANGES IN THE GLD IN ONE DAY: FIRST A DEPOSIT OF 4.42 TONNES AND THEN A WITHDRAWAL OF 2.94 TONNES/NO CHANGE IN SILVER INVENTORY AT THE SLV/GOLD WHACKED AGAIN DOWN $3.60 TO $1254.60 WITH SILVER DOWN ANOTHER 8 CENTS TO $16.18 AS OPTIONS...Read More
A cargo of premium hard coking coal fetched a significantly higher price on Thursday June 28, though market participants have dismissed the transaction as one-off. The August-laycan cargo of a top Australian brand was sold at $211 per tonne cfr China to an end-user in northeastern China.Market participants were unanimous with the notion that it was "tough" for premium hard coking coal to trade any...Read More
SHANGHAI, Jun 28 (SMM) – The floor price of imported copper concentrate treatment charges (TCs) for the third quarter has yet to be decided by the China Smelters Purchase Team (CSPT) even though the meeting was held on Thursday June 28.In fact, there is a high probability that a floor price will not be set, for the first time, sources told SMM.In anticipation of further upward room...Read More
SHANGHAI, Jun 28 (SMM) – Nonferrous metals futures rose across the board on Thursday June 28 except for SHFE tin. Lead led the gains again with a rise of nearly 3%. Zinc went up nearly 1.5%, nickel rose over 1%, while aluminium and copper inched up.The ferrous complex mostly gained, except for coking coal. Rebar, coke, and hot-rolled coil rose over 1%. Iron ore went up 0.86%.Copper: The SHFE...Read More
SHANGHAI, Jun 28 (SMM) –Copper: The SHFE 1808 contract hit 52,050 yuan/mt overnight but pressure was seen at the 250-day moving average. While the falling Chinese yuan may provide some support, the hawkish views on US inflation would weigh on copper prices. The KDJ indicator suggested that copper prices are likely to stabilise if the trade situation does not deteriorate. We expect LME copper...Read More
SHANGHAI, Jun 28 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index went up 0.64% to 95.3 overnight, on track for its second day of gains as trade-related worries eased following Washington’s less confrontational approach to Chinese investment. The upbeat economic data released on Wednesday also accounted for the g...Read More
European alloy steel surcharges for July deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the sixth consecutive month on an increase in nickel costs to reach their highest level since June 2011. The July alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,624-1,648 ($1,886-1,914) per tonne. Th...Read More