Iron ore prices tumbled on Friday March 16 following a decline in the futures market amid doubts whether downstream demand for steel in China has truly started to recover after the Chinese New Year.Metal Bulletin's 62% Fe Iron Ore Index Today: $69.84 per tonne cfr QingdaoDaily change: down $2.27 per tonneMonth-to-date average: $73.61 per tonneMetal Bulletin's 58% Fe Premium Index Today: $56.91 per...Read More
The seaborne coking coal market took a breather on Friday March 16, though buyers outside of China are still anticipating prices to experience a downward correction.A cargo of mid-vol premium hard coking coal was traded at $215 per tonne fob Australia while a lower-ranked second-tier product changed hands at $182 per tonne fob Australia, sources told Metal Bulletin during the day. "The market is s...Read More
Seaborne iron ore prices fell below $70 per tonne cfr China again on Friday March 16 with sentiment deteriorating amid declining futures. Key drivers Doubts have emerged in the market over whether downstream demand for steel products had truly started to recover.China's major ports had 159.37 million tonnes of iron ore on Friday, up 742,000 tonnes from a week earlier. The increase was concentrated...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday March 16:Minor metalsArsenic MB free market, $/Ib: $1.10-1.30 per Ib from $0.70-1.05 per lbCadmium MB free market min 99.99%, cents/lb: 155-175 per lb from 150-170 per lbChromium MB free market alumino-thermic, $/tonne: $10,500-11,300 per tonne from $10,500-11,000 per tonneCobalt MB free market high grade, $/lb: $41.70-43.00 p...Read More
An overview of China's minor metals markets in the week of March 12-16 and the reasons for any price moves.Read More
Bismuth prices are being driven higher by a supply shortage in China that has resulted from environmental crackdowns in the country. "Due to the upcoming environmental protection policy, many manufacturers have suspended their production and it is hard to locate proper goods," a producer source in China said.Metal Bulletin assessed bismuth free market in warehouse prices at $5.20-5.40 pe...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Friday March 16, with all of the metals, except tin, showing average gains of 0.4%. Copper is up by 0.5% at $6,956 per tonne, while tin is off by 0.1% at $20,970 per tonne.Volume has been light with 4,565 lots traded as of 06.29am London time. This follows a day of weakness on Thursday, with the complex cl...Read More
Import volumes of stainless steel into the United States from European mills are likely to fall sharply once US President Donald Trump's Section 232 tariffs on imported steel are imposed, Danish distributor Damstahl said this week.The 25% tariff on imported steel will come into effect on Friday March 23 at 12:01am New York time.Around 350,000 tonnes, or 60% of total flat stainless steel imports in...Read More
Domestic stainless steel prices in China continued to slide over the past week with stockists making a push to destock.Metal Bulletin's assessment of prices for benchmark 304 stainless CRC in the major market of Wuxi was 14,500-15,300 yuan ($2,294-2,420) per tonne including VAT for the week ended Thursday March 15, widening downward from 14,600-15,300 yuan per tonne a week earlier. Stockists have...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday March 16:Aluminium scrapCast: ?,?1,170-1,240 per tonne from ?,?1,180-1,250 per tonneMixed turnings...Read More
The UK inter-merchant price range for austenitic alloy steel products rose by ?10-20 per tonne this week, with the nickel price strengthening over the week, sources said on Friday March 16.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?960-1,000 ($1,340-1,396) per tonne delivered on Friday, compared with ?950-980 per tonne on March 9."The nickel pri...Read More
Supplies of cobalt and lithium, key for making the batteries that power electric cars and mobile phones, are likely to be limited by 2050, German researchers have warned.According to the Karlsruhe Institute of Technology (KIT) study, published this week in the journal Nature Reviews Materials, a shortage and price increase of cobalt are likely to occur in about thirty years, especially since deman...Read More
Anglo American's De Beers, the world's largest rough diamond producer by value, and its partner in Gahcho Ku?(C) mine, Mountain Province, are seeking to acquire a Canadian explorer and so expand their jointed operation in Canada's far north.Toronto-based Kennady Diamonds (TSX-V:KDI) owns the Kennady North project, located immediately adjacent to the De Beers/Mountain Province mine.If the proposed...Read More
Chile's Codelco, the world's top copper producer, reaped the benefit of climbing prices for the red metal last year even as production costs rose, and is ready to post a profit of $2.88 billion for 2017, the company's chairman has revealed.Speaking to investors and students at the Faculty of Economics and Business at the University of Chile, Oscar Landerretche said Thursday the preliminary results...Read More
Vancouver-based First Quantum Minerals (TSX:FM)(LON:FQM) denounced that some workers and leaders from an outside union have been carrying out protest actions since March 9, 2018, which have "reduced the level of work being performed on the [Cobre Panama] project."The information was provided by First Quantum in a media statement and also during a press conference held today by representatives of M...Read More
https://www.azcentral.com/With the impending closure of the Navajo Generating Station coal-fired power plant near Page in December 2019, hundreds of power plant workers and coal miners will need new jobs. Arizona’s copper mines could offer them opportunity.Thanks to rebounding copper prices, copper mines across Arizona have hundreds of job openings today. The major companies, Freeport-McMoRa...Read More
Mike "Mish" Shedlock a registered investment advisor, representative for Sitka Pacific Capital Management and he operates one of the most popular websites about the economy and investing online: MISH'S Global Economic Trend Analysis.Read More
Read Chris' latest article: https://www.peakprosperity.com/blog/113845/russia-didChristopher Martenson is a former American biochemical scientist. Currently he is a writer and trend forecaster interested in macro trends regarding the economy, energy composition and environment. He is the founder of PeakProsperity.com. As one of the early econobloggers who forecasted the housing market collapse and...Read More
Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows. US president Donald Trump signed the 25% tariff into law on March 8 after the conclusion of his government's Section 232 investigation, and from Friday March 23 the...Read More