Prices for steel beams in Europe could come under downward pressure in the coming weeks because of waning demand, despite mills plotting further price rises, sources told Metal Bulletin on Wednesday March 14."Demand for beams is not strong, which means that we are selling below our budget in terms of tonnes," one Northern European distributor said.Stockholders continue to hold bloated volumes of b...Read More
RAPAPORT... A new fine-jewelry show will launch in Las Vegas duringthe upcoming trade-fair season, the event's organizers said last week. Premier, which will feature jewelry manufacturers andbrands, emerging designers, and timepieces, will be located at the Las VegasConvention Center, alongside the Las Vegas Antique Jewelry and Watch Show, andthe AGTA GemFair Las Vegas. The show is scheduled to ru...Read More
Prices for hollow steel sections in Northern Europe have fallen by ?,?5 ($6) per tonne this week, with some mills accepting lower bids to secure orders, market participants told Metal Bulletin on Wednesday March 14.Meanwhile, Southern European prices widened upward by ?,?5 per tonne, with the large Italian mills being more successful in driving up their offer prices, sources said.Metal Bulletin's...Read More
RAPAPORT... Sotheby's April Hong Kong auction will feature more than $93.6million-worth of jewels, among them a step-cut, 14.18-carat, fancy blue,VVS2-clarity diamond ring.That lot, with a surround of pink diamonds, carries an estimated price of $6 million to $7.7 million, the auction house said Tuesday. Also included at the event is a Van Cleef & Arpels gem-setand diamond bracelet valued at $...Read More
RAPAPORT... Lipari Mining predicts sales from its Bra??na diamond mine in Brazil will rise 11% to $50.6 million this year, as it expects a rise in the recovery of large stones at the operation.The company achieved an average price of $201 per carat last year, but sees that jumping to $220 per carat in 2018, as it is commissioning a large-diamond recovery circuit this month."We expect to see an inc...Read More
Teck Resources and Asian smelters have agreed to cut annual lead concentrate treatment charges (TCs) by 28% in 2018 supply contracts, sources with knowledge of the deals told Metal Bulletin.The deals bring lead concentrate TCs, fees paid to smelters for the costs of processing concentrates into metal, down to $99 per tonne from $138 per tonne last year. Market sources also noted a drop in containe...Read More
Prices for rebar produced and delivered in Southern Europe widened upward by ?,?10 per tonne this week amid higher scrap costs, sources told Metal Bulletin on Wednesday March 14.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe widened upward to ?,?525-545 ($649-674) per tonne delivered on Wednesday, compared with ?,?525-535 per tonne delivered one week ago."Domestic s...Read More
Base metals prices on the London Metal Exchange are for the most part consolidating this morning, Wednesday March 14, although copper and lead prices are showing gains of 0.5% and 0.3% respectively, with the former at $6,984 per tonne.Volume has been average with 7,085 lots traded as of 07.06am London time. This follows a day when most prices rebounded on Tuesday, with the complex closing up by an...Read More
The latest metal markets news and price moves to start the North American day on Wednesday March 14. Base metals prices on the London Metal Exchange were higher across the board this morning, following better-than-expected data releases from China. The base metals are building on Monday's rally with nickel hitting above $14,020 per tonne for the first time in March, while copper recovered back abo...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the February Producer Price Index was an increase of 0.2% versus a gain of 0.4% in January. Actual was an increase of 0.2%. Excluding food and energy, consensus for the February Producer...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Wednesday March 14.Base metals traded on the Shanghai Futures Exchange were mostly higher during Asian morning trading on Wednesday, underpinned by a weaker dollar and healthy data releases from China.Tin was the only metal to weaken so far this morning, while the rest of complex pushed hig...Read More
SHANGHAI, Mar 14 (SMM) – Nonferrous and ferrous metals in the Shanghai market rebounded across the board and remained firm on the morning of Wednesday March 14 as data on China's economy in January and February were released, SMM found. The National Bureau of Statistics (NBS) released the report on China's economy for the first two months in 2018.Vice president of Zhongda Future...Read More
SHANGHAI, Mar 14 (SMM) – Nonferrous and ferrous metals in the Shanghai market rebounded across the board and remained firm on the morning of Wednesday March 14 as data on China's economy in January and February were released, SMM found. The National Bureau of Statistics (NBS) released the report on China's economy for the first two months in 2018.Vice president of Zhongda Future...Read More
SHANGHAI, Mar 14 (SMM) – Nonferrous and ferrous metals in the Shanghai market rebounded across the board and remained firm on the morning of Wednesday March 14 as data on China's economy in January and February were released, SMM found. The National Bureau of Statistics (NBS) released the report on China's economy for the first two months in 2018.Vice president of Zhongda Future...Read More
SHANGHAI, Mar 14 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightFollowing the departure of US Secretary of State Rex Tillerson from the White House, the US dollar index touched a five-day low of 89.58 and then hovered around 89.6, while most base metals climbed up. SHFE aluminium and tin edged down slightly. LME zinc led with a rise of...Read More
SHANGHAI, Mar 14 (SMM) – Norilsk nickel in the Shanghai market was offered at a discount of 500 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on the morning of Wednesday March 14, while Jinchuan remained flat at 103,700 yuan/mt, SMM learned.As nickel prices rose, traders sold actively while downstream customers held back. Overall trading was thin, and trades were heard...Read More
SHANGHAI, Mar 14 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightFollowing the departure of US Secretary of State Rex Tillerson from the White House, the US dollar index touched a five-day low of 89.58 and then hovered around 89.6, while most base metals climbed up. SHFE aluminium and tin edged down slightly. LME zinc led with a rise of...Read More