Base metals prices on the London Metal Exchange were mostly consolidating during morning trading on Wednesday February 14, with the complex trying to stabilize after two days of rebounds. "Despite the low volumes, the resilience of the markets at their new higher levels is impressive, there is some light short-covering but more importantly a genuine lack of selling as the US dollar slips lower yet...Read More
Deliverable base metal stocks at Shanghai Futures Exchange-approved warehouses all rose in the short trading week to Wednesday February 14, except for nickel which saw a very slight decline. Copper stocks increased by 11,627 tonnes or 6.2% to 197,759 tonnes between Friday and Wednesday. The SHFE typically releases its weekly stock numbers on Fridays, but the exchange will close for the Chinese New...Read More
Domestic prices for steel wire rod in Northern Europe widened downward by ?,?5 per tonne this week, amid scrap costs that are weakening and despite strong demand, sources told Metal Bulletin on Wednesday February 7.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe widened downward week-on-week to ?,?545-560 ($672-691) per tonne delivered on Wednesday. T...Read More
Domestic prices for rebar in Northern Europe have widened down by ?,?10 per tonne this week, despite an optimistic outlook for market demand, sources told Metal Bulletin on Wednesday February 14.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was ?,?550-570 ($678-703) per tonne delivered on Wednesday, compared with ?,?560-570 per tonne delivered on February 7."Last m...Read More
Domestic prices for heavy steel plate in Europe have increased this week, supported by a positive trend in the region's market for flat steel products, sources told Metal Bulletin on Wednesday February 14.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?560-570 ($691-703) per tonne ex-works on February 14, compared with ?,?550-565 per t...Read More
Key data from the Wednesday February 14 pricing session in Europe.Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in Europe ...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday February 14:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.25 per lb from $12.20-12.50 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam,...Read More
India's largest iron ore producer, NMDC, has reported a year-on-year rise of 2.54% in iron ore production for the nine months of April-December 2017.Iron output at the state-run miner reached 24.23 million tonnes for the nine-month period, compared with 23.63 million tonnes in the corresponding months of 2016, the company said on Tuesday February 13.Production and sales figures could have been eve...Read More
The steel mills in Turkey resumed their deep-sea scrap bookings on Wednesday February 14 at comparatively stable prices, Metal Bulletin was told.A steel mill in the Marmara region booked a US cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $349.25 per tonne, 5,000 tonnes of shredded at $354.25 per tonne...Read More
Iron ore prices jumped to more than $78 per tonne cfr China on Wednesday February 14 despite inactive physical trading. Metal Bulletin's 62% Fe Iron Ore Index Today: $78.41 per tonne cfr Qingdao Daily change: up by $1.05 per tonne Month-to-date average: $76.19 per tonne Metal Bulletin's 58% Fe Premium Index...Read More
Bids for seaborne iron ore rose despite little trading on Wednesday February 14, the last working day before the Chinese Lunar New Year holiday.Key driversChina's ferrous futures prices largely continued to advance, with the benchmark iron ore contract still outshining other products, ending 2.6% higher than the preceding day's settlement.Bids for seaborne cargoes of 62% Fe Australian fines rose a...Read More
The seaborne coking coal spot market price rose on Wednesday February 14 as market participants awaited more information regarding Australian rail operator Aurizon's decision to cut back the number of rail paths amid a disagreement with the Queensland Competition Authority. Aurizon said on Monday it would "progressively make changes" from now until 2021 that will result in a possible loss of...Read More
China's ferrous futures rose further during the morning trading session on Wednesday February 14, ahead of the country's week-long Lunar New Year holiday starting February 15.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,943 yuan ($622) per tonne, up 20 yuan per tonne May hot-rolled coil: 3,985 yuan per tonne, up 4 yuan per tonne Dalian Commodity Exchang...Read More
Base metals on the London Metal Exchange are for the most part consolidating this morning, Wednesday February 14. Nickel prices are the most energetic with a 0.7% gain to $13,520 per tonne, the others are ranged between down 0.2% and up 0.3%, with copper prices unchanged at $7,017 per tonne.Volume has been below average, with 7,611 lots traded as of 07.19 am London time. This follows a second day...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday February 14* Copper -$94.68 (-601.79 yuan) Aluminium -$461.35 (-2932.28 yuan) Zinc -$118.19 (-751.23 yuan) Nickel -$553.92 (-3520.66 yuan) *The physical arbitrage numbers...Read More
Metal Bulletin's low-grade cadmium prices rose by 4.9% in the latest pricing session on strong demand from India. The 99.95% cadmium quotation rose to 120-133 cents per lb on Wednesday February 14 from 117-133 cents on Friday, while the 99.99% quotation remained stable at 120-135 cents per lb. "There is huge demand in India for cadmium and a lack of availability in the market," a trader...Read More
Key data from the Wednesday February 14 pricing session in Europe:Key data from the Wednesday February 14 pricing session in Europe:Indium ingots MB $/kg in-warehouse Rotterdam Key drivers - Crude supply tightness -...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 Wednesday February 14:Antimony MMTA standard grade II, $/tonne: $8,400-8,700 per tonne from $8,400-8,600 Cadmium MB free market min 99.95%, cents/lb:...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday February 14:Aluminium scrap Group 1 pure 99% & litho: ?1,400-1,450 per tonne from ?1,420-1,470 Commercial pure cuttings:...Read More