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CESCO - INTERVIEW: China scrap laws altering European copper flows, scrap RCs, Aurubis' Schachler says

April 11, 2018 / www.metalbulletin.com

Chinese laws restricting the nation's copper scrap imports have already materially affected the European market, Aurubis executive board chairman J? 1/4 rgen Schachler told Metal Bulletin in an interview."In the short term we see that this legal legislation has changed the game a bit." he said during Chile's CESCO Copper Week.China cut metal scrap import licenses issued to traders and pr...Read More

CESCO - INTERVIEW: Codelco to play small role in lithium, but big believer in EVs, chairman says

April 11, 2018 / www.metalbulletin.com

Codelco will play a small role in the lithium market and has no plans to compete with some of the world's giants in the field, according to the chairman of the Chilean state-run copper producer.Enthusiasts should "curb your enthusiasm" for Codelco's involvement, Oscar Landerretche said, adding that the company was in no immediate rush to develop its two lithium projects in Chile's northern region...Read More

GLOBAL ZINC & LEAD WRAP: Zinc premiums down in Italy; lead premiums stable

April 11, 2018 / www.metalbulletin.com

Zinc premiums were largely stable on Tuesday April 10 with a downward adjustment in zinc premiums in Italy following arrivals from Namibia, while lead premiums were unchanged across several markets amid spot weak demand, in particular in India where stagnant industrial demand failed to boost battery consumption. Zinc premiums largely unchanged, except a slight cut in Italian premiums  LME zi...Read More

LIVE FUTURES REPORT 11/04: Comex copper rally short-lived

April 11, 2018 / www.metalbulletin.com

Comex copper prices failed to maintain momentum on Wednesday April 11 morning in the US, with the recent gains prompting a round of technical selling amid continued global unrest.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents or 0.3% to $3.1275 per lb, after the contract hit a three-week high yesterday."The LME copper price is consolidating we...Read More

Aperam to acquire special alloys producer VDM Metals for $540m

April 11, 2018 / www.metalbulletin.com

Stainless steel producer Aperam has purchased 100% of the shares in Germany-based special alloys producer VDM Metals for ?,?438 million ($540 million), the companies announced on Wednesday April 11.The acquisition, which is subject to merger control approvals, is expected to be completed during the second half of 2018, Aperam said. Until the deal has been confirmed, VDM Metals and Aperam will rema...Read More

Severstal increases export volumes by 6% in Q1 2018

April 11, 2018 / www.metalbulletin.com

Russian steelmaker Severstal increased its export sales volumes to 48% of all sales during the first quarter of 2018, up by 6% from 42% in the fourth quarter of 2017, on higher profitability of exports, according to its latest operational results statement.This continues the rising export trend it set in the October-December quarter of last year, it said in the report published on its corporate we...Read More

EUROPE WIRE ROD: Prices stable with demand still healthy

April 11, 2018 / www.metalbulletin.com

Domestic prices for mesh-quality wire rod produced and delivered in Europe went unchanged this week, with demand at mills remaining healthy, sources said on Wednesday April 11.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe was unchanged on Wednesday at ?,?550-560 ($679-691) per tonne delivered.One European mill intends to raise prices for all...Read More

European molybdenum markets drop in line with demand

April 11, 2018 / www.metalbulletin.com

European spot prices for molybdic oxide and ferro-molybdenum have dropped in line with demand on the spot market, with dealers expecting further price losses until renewed demand is triggered.The markets have been virtually inactive in terms of reported trades, with suppliers cutting their offer prices to encourage buying interest, but consumers seem content with their current stockpiles at presen...Read More

MB NON-FERROUS PRICE CHANGES 11/04: Noble alloys & ores

April 11, 2018 / www.metalbulletin.com

The following Metal Bulletin noble alloys and ores prices changed on Wednesday April 11:The following Metal Bulletin noble alloys and ores prices changed on Wednesday April 11:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.10-12.25 per lb from $12.30-12.45Ferro-molybdenum...Read More

CESCO - INTERVIEW: Antofagasta evaluating growth options at Centinela, CEO says

April 11, 2018 / www.metalbulletin.com

Copper miner Antofagasta is evaluating two options for expansion of its Centinela copper operations in Chile, and will approve one by the end of the year, the company's chief executive officer told Metal Bulletin.Expansion is part of a plan to use the company's capital for growth in a disciplined manner and to ensure that Antofagasta maximizes the returns on its investment, Iv??n Arriagada said du...Read More

CESCO - INTERVIEW: Demand for EVs will soar on price parity, Antofagasta CEO says

April 11, 2018 / www.metalbulletin.com

Demand for electric vehicles (EVs) will expand significantly once their cost to the consumer falls to parity with diesel-powered cars, the chief executive officer of Chilean copper producer Antofagasta said.Estimates suggest that parity could be achieved as soon as 2022, Iv??n Arriagada told Metal Bulletin on Tuesday April 10 during an interview at the annual Cesco industry week in Santiago, Chile...Read More

Tharisa reports record March quarter chrome concentrate production

April 11, 2018 / www.metalbulletin.com

Tharisa has reported a record quarterly production of 367,000 tonnes of chrome concentrate in the three months to March 31.The figure represents a slight increase compared with the December quarter and a production volume of 315,000 tonnes in the same period of 2017. The South African miner also reported a 15% increase in half-year production to 737,000 tonnes.The average contract metallurgical ch...Read More

DAILY SCRAP REPORT: Turkish mills resume May bookings

April 11, 2018 / www.metalbulletin.com

Turkish steel mills resumed their deep-sea scrap purchases on Wednesday April 11, with slightly lower prices from Baltic Sea suppliers.A steel producer in the Izmir region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $352 per tonne and bonus at $362 per tonne cfr on Wednesday.The supplier said that they are still discussing the tonnages with the mill, but the cargo was scheduled for th...Read More

Algeria sells 49% stake in El-Hadjar steel plant to UAE firm

April 11, 2018 / www.metalbulletin.com

The Algerian government has approved the sale of a 49% stake in the state-owned El-Hadjar Iron & Steel Complex to United Arab Emirates-based steel and construction company Emarat Dzayer, the Algerian prime minister's office said late on Tuesday April 10.The deal will include investment of more than 160 billion Algerian dinars ($1.39 billion) in new steel production at the El-Hadjar plant, located...Read More

IRON ORE DAILY: Prices track China's weakening futures market

April 11, 2018 / www.metalbulletin.com

Physical iron ore prices softened on Wednesday April 11 amid a retreating futures market in China.Metal Bulletin 62% Fe Iron Ore Index: $64.79 per tonne cfr Qingdao, down by $0.51 per tonneMetal Bulletin 58% Fe Premium Index: $52.51 per tonne cfr Qingdao, down by $0.24 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, down by $1 per tonneMetal Bulletin 62% Fe China Port...Read More

COKING COAL DAILY: Seaborne market steady amid limited buying activity

April 11, 2018 / www.metalbulletin.com

Chinese buyers continued to drive the illiquid seaborne coking coal market, with the latest transaction being concluded just below $200 per tonne cfr China.A cargo of premium hard coking coal was traded at around $197 per tonne cfr China on Wednesday April 11, market sources told Metal Bulletin. A higher-ranked cargo of materials in the same segment was also heard offered at around $192 per tonne...Read More

Steelmaking Raw Materials Trade Log, April 11, 2018

April 11, 2018 / www.metalbulletin.com

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, 190,000 tonnes of 61% Fe Pilbara Blend fines, sold...Read More

Low-grade iron ore miners feeling pinch of persistent price discounts

April 11, 2018 / www.metalbulletin.com

China's focus on environmental protection continues to affect miners producing low-grade iron ore that have had to offer price discounts on their products, though some believe that Chinese mills' narrowing margins could alter market dynamics. On Monday April 9, Australia's Atlas Iron announced its acquisition by compatriot miner Mineral Resources.The acquisition follows Atlas's plans to increase t...Read More

China AM: Futures retreat after Tuesday night gains

April 11, 2018 / www.metalbulletin.com

China's ferrous futures trended down across the board during morning trading on Wednesday April 11 after posting gains during Tuesday night's session.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,392 ($5) per tonne, down 63 yuan per tonne October hot-rolled coil: 3,474 yuan per tonne, down 69 yuan per tonne Dalian Commodity Exchange September iron ore: 452.50...Read More

NORTH AMERICAN MORNING BRIEF 11/04: Antofagasta interviews; global stainless outlook; Dillinger expects lower 2018 output

April 11, 2018 / www.metalbulletin.com

The latest metal markets news and price moves to start the North American day on Wednesday April 11. The latest metal markets news and price moves to start the North American day on Wednesday April 11. Base metals prices on the London Metal Exchange continued to rise during morning trading, with aluminium's momentum continuing to eclipse the rest of the complex. "Aluminum continues to be the main...Read More

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