SHANGHAI, Jun 25 (SMM) – China's copper scrap imports in May declined 33.3% from a year ago to stand at 210,000 mt, data released by China Customs on Saturday June 23 showed. This compared with a year-on-year drop of 36.7% recorded in April, and brought copper scrap imports from January to May to 950,000 mt. China's stricter inspections of all US-imported scrap from Ma...Read More
SHANGHAI, Jun 25 (SMM) –Copper: LME copper continued to consolidate around the $6,800/mt level last Friday, while the SHFE 1808 contract hovered within a narrow range. The liquidity brought by China’s reserve requirement ratios (RRR) cut is likely to ease the pressure at the 51,500 yuan/mt level for SHFE copper price. The SHFE 1808 contract is likely to rebound in near term. Spot disco...Read More
The London Metal Exchange will introduce three regional hot-rolled coil contracts at the start of 2019, coinciding with a change in attitude towards risk management tools for the ferrous sector, according to the exchange's business development manager. The contracts are aimed at the domestic markets in the United States and in Europe as well as the Chinese export market, said Marko Kusigerski...Read More
Turkish deep-sea scrap markets remained quiet on Monday June 25 due to the uncertainty in the market following the general elections in Turkey.Preliminary results from Turkey's presidential election on Sunday June 24 gave Recep Tayyip Erdogan a commanding lead, while his ruling Justice and Development Party (AKP) failed to win majority of the 600 parliamentary seats. However, the 'People's Al...Read More
Eurasian Resources Group (ERG) plans to boost output of alumina powders to meet growing demand in the 3D printing sector.The natural resources group is planning a pilot scheme for the manufacturing of 3D-printed components after completing a study into the production of alumina powders using alumina mined at its operations in Kazakhstan."At the moment only about 2,000 tonnes of powders for 3D...Read More
Comex copper prices started another week in negative territory with global trade volatility preventing a recovery. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 1.40 cents or 0.5% to $3.0130 per lb. Volatile global trading conditions continue to dampen investment after the United States' most recent announcement of a 20% import tariff on EU car im...Read More
The latest metal markets news and price moves to start the North American day on Monday June 25.Zinc prices on the London Metal Exchange fell 1.2% during morning trading on Monday June 25, hindered by tight spreads, a broadly strong dollar and escalating trade tensions between China and the United States.Here is how the LME base metals complex looked at 12:21pm London time:For...Read More
RAPAPORT... Tse Sui Luen (TSL) plans to open 100 stores in mainland China overthe next two years, after witnessing solid growth in the region over the pastfiscal year. The jewelry retailer intends to focus more on shopping-malllocations rather than department stores, it said last week. The move comes afterrevenue increased 21% to $527.2 million (HKD 4.14 billion) in the 13 monthsending March 31 co...Read More
RAPAPORT... The Kimberley Process (KP) discussed plans for a reformagenda at its intersessional meeting in Antwerp last week, includingbroadening its definition of conflict diamonds. "I believe the industry has expressed an unambiguous andclear position," acting president Stephane Fischler of the World DiamondCouncil (WDC) - the group that represents the interests of the globaldiamond industry wit...Read More
RAPAPORT... Michael Hill will close all 30 Emma & Roe stores as itredeploys funds and resources to its core business, it said last week. The Australia-based retailer had initially planned to shut only24 of its 30 Emma & Roe stores in Australia and New Zealand by June 30 dueto lackluster sales. "Following a strategic review, we have decided that asingular focus on the Michael Hill brand wi...Read More
RAPAPORT... Sarin Bachmann will run the JCK and Luxury trade fairs inLas Vegas from next year, succeeding Katie Dominesey, the events' organizerssaid. Reed Jewelry Group has promoted Bachmann (pictured) toevent vice president for the two exhibitions, the company reported lastweek. Bachmann has been industry vice president for the Luxury show for thepast three years, and will continue to oversee th...Read More
Emirates Global Aluminium (EGA) received its first bauxite shipment from Compagnie des Bauxites de Guin?(C)e (CBG) on Sunday June 24 in preparation for the commissioning of its Al Taweelah alumina refinery in Abu Dhabi. Al Taweelah will produce its first alumina in the first half of 2019. At full capacity, the refinery will receive 5 million tonnes per year of bauxite from CBG. EGA has the capacit...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Monday June 25*Copper -$105.31 (-689.75 yuan) Aluminium -$516.31 (-3,381.81 yuan) Zinc -$3.92 (-25.67 yuan) Nickel -$271.77 (-1,780.08 yuan) *Metal Bulletin calculates the physical arbitrage for import into China...Read More
(IDEX Online) - During the Intersessional Meeting of the Kimberley Process which took place from 18 to 22 June in Antwerp, the Central African Republic made substantial progress with the European Union Chair Hilde Hardeman and South Africa, Chair of the Working Group of the Monitoring Team, the CAR said in a statement. Notably, the Monitoring Team of the Central African Republic has agreed on sho...Read More
(IDEX Online) - ALROSA has launched a collection of 32 round diamonds weighing 0.3 carats each named after the countries participating in the World Cup. All the diamonds are high quality, D to F color and VVS2 to IF clarity, mined in Russia and cut by ALROSA's subdivision, DIAMONDS ALROSA "in keeping with the best traditions of the world-famous Russian cut". The diamonds are being offer...Read More
Coated coil prices in Turkey continued to rise this week due to increasing hot-rolled coil prices and the expectation of less uncertainty in the local market after elections on June 24.One northern producer in Turkey increased its coated coil prices by $10-15 per tonne effective from Monday, June 25. The producer is now offering 0.50mm hot-dipped galvanized coil (HDG) at $775 per tonne ex-wor...Read More
CIS export billet prices have not seen any drastic changes over the week ending Monday June 25, with buying sluggish over the weekend while the market waits for buying activity to recover.Some participants from the Middle East and Africa returned to the market by the middle of last week after the Eid-al Fitr celebration, marking the end of Islamic holy month of Ramadan, while some are returning to...Read More
Global crude steel production rose 6.6% year on year in May 2018, partly due to an increase in China, according to statistics published by the World Steel Association (Worldsteel) on Monday June 25. World crude steel output was 154.86 million tonnes in May this year, compared with 145.24 million tonnes in the corresponding month of 2017. China, the world's largest steelmaking country, increased it...Read More
Liberty House aims to make "more than $5 billion in investments over the next few years" across the United States and Canada following the restart of its rod mill in Georgetown, South Carolina, on Monday June 25."Of this [$5 billion] total, $1 billion is expected to be invested during the coming year to acquire and develop steel, aluminium, engineering, mining, energy generation, and financial ser...Read More