Base metals prices on the London Metal Exchange were weaker during morning trading on Monday February 19, with most metals reversing gains seen last week. The three-month copper price was recently trading $62.50 per tonne lower than Friday's 5pm closing price and coming under pressure at the $7,200 per tonne level. Market volumes are expected to remain thin today with Chinese traders away for the...Read More

Metal Bulletin aluminium billet premiums were largely unchanged around the world on Friday February 16, on a combination of factors. The market in the United States was stagnant in the month to Friday, while Asian market participants were away for the Lunar New Year holiday and consumers in Europe reported being well stocked. The three-month aluminium price on the London Metal Exchange closed at $...Read More

An aluminium producer has offered second quarter 2018 aluminium supply to main Japanese ports (MJP) at $135 per tonne, according to market sources.The number is 31% higher than the premium settled at $103 per tonne cif MJP for first quarter supply. "This is expensive," one Japanese buyer who...Read More

The Mexican government must look into the reciprocal sanctions it can take against the United States if it is included in action resulting from that country's Section 232 investigation into steel imports, national steel association Canacero has said."If [Mexico] is included in measures [resulting from the Section 232 investigation], we are obliged as a country to respond immediately with equivalen...Read More

Domestic Chinese trading is preparing for a shake-up after the new International Energy Exchange (INE), a subsidiary of the Shanghai Futures Exchange (SHFE), has announced it will allow non-Chinese companies to trade crude oil futures contracts.Following the release of a one-line statement from the China Securities Regulatory Commission (CSRC) on February 9 that announced the launch of domestic cr...Read More

Export prices for rebar and wire rod in the CIS region rose in the week ended Monday February 19 because of increased costs for semi-finished steel products.The market was supported by positive dynamics in the scrap and long steel product sectors in Turkey.Metal Bulletin's weekly price assessment for CIS rebar exports was $565-580 per tonne fob Black Sea on February 19, up from $555-560 per tonne...Read More

Import prices for re-rolling-grade hot-rolled coil sold into Vietnam were unchanged over the past week amid inactivity in the spot market.Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $607-620 per tonne cfr for the week ended Monday February 19, unchanged...Read More

Import prices for rebar in Singapore were unchanged over the past week on thin demand and low liquidity in the spot market.Metal Bulletin's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $560-570 per tonne cfr for the week to Monday February 19, unchanged from the preceding week. Major buyers in Singap...Read More

Spain-focused tungsten miner W Resources has secured a $35 million loan facility to fund its La Parilla development in southwest Spain, it said late last week.The lenders include one or more funds managed by BlackRock Financial Management, the miner said.The loan will have a five-year scheduled term, with a two-year non-call period, it added. W Resources has the right to repay the loan after two y...Read More

Russia's reintroduction of value added tax (VAT) on domestic steel scrap could lead to surge in scrap exports, market participants told Metal Bulletin at the annual Regional Trade conference in Moscow last week. VAT on domestic steel scrap was abolished in 2008, but an 18% tax was reintroduced on January 1, 2018, mainly to boost government income, sources said. However, there is no VAT on scrap ex...Read More

Turkish domestic prices for steel scrap have gone up slightly over the past week, in line with rising imported scrap costs, sources said on Monday February 19.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was TRY1,260-1,390 ($336-370) per tonne delivered on Monday, widening upward from last week's TRY1,260-1,385 per tonne.The change in the weekly assessment ca...Read More

Iron ore prices remained steady above $78 per tonne cfr China on Monday February 19 amid inactivity with Chinese market participants away for the Lunar New Year.Metal Bulletin's 62% Fe Iron Ore Index Today: $78.43 per tonne cfr QingdaoDaily change: unchangedMonth-to-date average: $76.56 per tonneMetal Bulletin's 58%...Read More

Seaborne coking coal spot prices were largely static on Monday February 19 with market participants mostly away for the Chinese New Year celebrations. Indicative bids for March-laycan cargoes of second-tier hard coking coal were around $190-195 per tonne fob...Read More

Import prices for containerized heavy melting scrap (HMS) in Taiwan were stable last week on thin trading due to a major holiday in the territory. Metal Bulletin's assessment of import prices for United States-origin HMS 1&2 (80:20) into Taiwan was $320-325 per tonne cfr for the week ended Friday February 16, the same as a week...Read More

The metals complex on the London Metal Exchange is down an average of 0.1%, with the exceptions of aluminium that is off 0.6% ($2,186 per tonne) and nickel that is up 0.8% ($13,775 per tonne). Copper prices are off 0.1% at $7,177 per tonne. Volumes have been light with 2,354 lots traded as of 07:53 am London time. This follows a mixed performance on Friday when aluminium and tin prices were up 2.1...Read More

The LME aluminium price dipped 0.61% during early Asian trading on Monday February 19, reversing gains seen last Friday.China's markets are closed from today till Wednesday for the Chinese New Year holiday, and will re-open on Thursday February 22.The three-month aluminium contract on the London Metal Exchange was at $2,194.50 per tonne at 12:07 pm Shanghai time, down 0.61%, or $13.50 per tonne, f...Read More

Low- and high-grade cobalt prices continued to overlap in the latest price assessment, with a supply squeeze coupled with strong demand for cobalt broken cathodes and briquettes for chemical applications at the core of new higher prices. Metal Bulletin assessed benchmark low-grade cobalt prices at $38-39.30 per lb, in-warehouse on Friday February 16, up by 25 cents on the low end of the range...Read More

Silicon grade 441 prices in Europe jumped by 5.7% on Friday February 16 due to the absence of Chinese sellers from the market for the Lunar New Year holidays, which compounded concerns about supply in the coming weeks. Metal Bulletin assessed grade 441 silicon, in-warehouse Rotterdam prices at ?,?2,300-2,500 ($2,855-3,103) per tonne on Friday, up from ?,?2,215-2,325 previously, while gra...Read More

The European antimony market continued to be supported last week by tightening supplies in Rotterdam while activity in the Chinese market slowed down due to the week-long Lunar New Year holidays.Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,400-8,700 per tonne on Friday February 16, unchanged from Wednesday when prices had moved up from $8,400-8,6...Read More

China is set to lead the way forward in the development of electric vehicles (EVs) in the next 10 years and become the development destination for technology and innovation in the space, according to Anthony Milewski, chief executive officer of Cobalt 27.Milewski told Metal Bulletin that it's still tricky to determine exactly which automotive firm might win in the race to develop commercial EVs. Y...Read More