Steel mills in India are likely to increase their domestic prices for hot-rolled coil (HRC) for February sales by at least 1,000 rupees ($16) per tonne, Metal Bulletin has heard.Officials from two top HRC-producing mills in the country have confirmed that there was adequate scope to increase prices by at least 1,000 rupees per tonne in February.Domestic HRC prices in India were assessed on Friday...Read More

Reduced steel production and delayed deliveries from Italian steelmaker Ilva will support the rise of Southern European domestic prices for hot-rolled coil (HRC), market sources have told Metal Bulletin.Ilva has lowered its HRC output in recent months due to instances of industrial action and technical problems with its equipment, according to sources. These problems have led to tighter supplies o...Read More

Peruvian steel producer Aceros Arequipa will invest $180 million to construct a new electric-arc furnace (EAF) at its Pisco works to reduce its dependence on imports of billet.The new facility will have an annual production capacity of 1.25 million tonnes per year, with its start-up expected in mid-2020, the firm said in a note to the country's securities regulator, SMV, late on Thursday January 2...Read More

Metal Bulletin rounds up some of the key news and price moves across the global metal markets in the week from Monday January 22 to Friday January 26.Base metalsSingaporean trading house Kyen Resources is opening a London office to expand its operations into Europe and will trade base metals, starting with aluminium and concentrates.Freeport-McMoRan reported a strong finish to 2017, with net incom...Read More

The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday January 26:Noble alloys Molybdenum US canned molybdic oxide, $/Ib $12.15-12.30 per Ib from $11.75-12Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.75-31 per kg from $29.75-30.50 Ferro-molybdenum US 65-70% Mo, $/Ib: $13.15-13.60 per Ib from $12.70-13 Tungsten European free market APT,...Read More

Summary of China's ferro-alloys imports in December and the full year 2017.Chrome ore Month total: 1.20 million tonnesOn month: -7.06 %On year: -8.76%*Full-year total: 13.87 million tonnesOn year: +30.94%Ferro-chrome Month total: 176,780 tonnesOn month: -25.67%On year:...Read More

Subscribe, rate and follow us on SoundCloud, iTunes, YouTube, Google Play, Stitcher or RSS Feed!It’s our annual AME Round-Up special here at The Northern Miner podcast! Matt is bringing you live commentary and coverage from the marquee mining and minerals event in Vancouver, B.C. We dig into some of the buzz around the conference vis-? -vis metal prices, investing, and capital markets...Read More

Buying activity for containers of shredded scrap arriving to India increased this week but prices recorded a slight decrease, market sources told Metal Bulletin on Friday January 26. Indian import scrap prices fell dramatically last week amid a large correction in Turkish import prices, but the subsequent price drop recorded this week in Turkey has had little impact in India. A combination of...Read More

Turkish steel mills have gone through this week with only one booking being made for deep-sea scrap, but they still expect to book further cargoes for February delivery, sources said on Friday January 26.Mills in the country have continued to struggle with weak demand for rebar exports and have been trying to keep their scrap purchases at a slow pace, sources told Metal Bulletin.The mills too...Read More

The UK inter-merchant price range for austenitic alloy steel scrap rose by ?20 per tonne this week as nickel prices rose sharply, sources said on Friday January 26.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?920-960 ($1,310-1,367) per tonne delivered on Friday, compared with ?900-940 per tonne on January 19.The London Metal Exchange three-month o...Read More

Export prices for Brazilian pig iron remained at high levels this week amid firm market conditions.Metal Bulletin's weekly price assessment for Minas Gerais pig iron exports rose to $375-380 per tonne fob on Friday January 26, from last week's $370-375 per tonne fob. The increase reflects a latest deal which closed at $375 per tonne fob Mexico, for April shipment, as well as the price uptrend in t...Read More

World's second largest mining company Rio Tinto (ASX, LON:RIO) has lifted force majeure on shipments of refined copper from its Kennecott unit in the U.S., 79 days after adopting the measure.The company halted production of refined copper at its smelter at the Utah-based mine on Oct. 8 after a worker was exposed to sulphur dioxide gases at the plant while removing debris from a boiler. The employe...Read More

Iron ore prices retreated on Friday January 26 on China's declining steel and futures markets.Metal Bulletin's 62% Fe Iron Ore Index Today: $74.40 per tonne cfr QingdaoDaily change: down by $0.64 per tonneMonth-to-date average: $76.21 per tonneMetal Bulletin's 58% Fe Premium Index Today: $61.03 per tonne cfr QingdaoDaily change: down by $0.82 per...Read More

Swiss miner and commodities trader Glencore (LON:GLEN) has begun hiring for a number of new positions at its Lady Loretta zinc mine in Australia, which is slated to reopen in the first half of this year.Production at the Queensland-based operation was halted in 2015 because of falling zinc prices. Since then, the metal has more than doubled, so Glencore - the world's No.1 zinc producer - announce...Read More

Trading activity slowed down in the physical iron ore market on Friday January 26 on weaker futures and steel prices in China.Key driversFerrous futures generally trended downward during the day, while spot rebar and hot-rolled coil prices also dipped 10-20 yuan ($1.60-3.20) per tonne.These dampened iron ore trading activity. A source at a mill in Tangshan told Metal Bulletin that it initially pla...Read More

Ecuador-focused miner SolGold (LON:SOLG) (TSX:SOLG) said Friday it had begun additional exploration drilling at its 85%-owned Cascabel copper-gold project, 180 km north of the country's capital Quito.The Australian gold miner noted said efforts are now focussed on targeting high-grade extensions to the Alpala resource. It also said that an additional 13,384 metres of drilling has been complet...Read More

Base metals prices on the London Metal Exchange were stable during morning trading on Friday January 26, with recent gains well supported by the weak dollar. "There is a sluggish feel to the session so far mixed with nervousness as the fate of metals is firmly tied to the hourly moves on DXY [US Dollar Index] thereby reducing conviction for the bulls and making day traders jumpy," Matt France of M...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 January 26:Minor metals Bismuth MB China domestic, yuan/tonne: 70,500-71,000 yuan per tonne from 69,000-71,000 yuan Cobalt MB free market high grade, $/lb: $37.20-38.40 per lb from $37-38.05 Cobalt...Read More

An overview of China's minor metals markets in the week of January 22-26 and the reasons for any price moves.Read More