Transactions in the physical iron ore market remained thin on Thursday August 23 with participants waiting for more clarity on upcoming steel production cuts in China....Read More
China's cobalt tetroxide prices have been under pressure in the past few months from high inventories, weak spot demand and substitution by battery makers, market participants told Metal Bulletin. Metal Bulletin assessed Chinese cobalt tetroxide prices (72.6% Co) at 340,000-360,000 yuan ($49,700-52,623) per tonne on Wednesday August 23, down more than 20% from two months ago. The cobalt tetro...Read More
Mining companies active in the Democratic Republic of Congo (DRC) have formed a new body to engage with the government on industry concerns about the country's new mining code and any other material issue concerning the mining industry. The industry's main issue remains the application of the 2018 mining code, according to Richard Robinson, general secretary of the new body, called the Mining Prom...Read More
The latest metal markets news and price moves to start the North American day on Thursday August 23....Read More
The aluminium market has been thrust into a period of uncertainty that has become a feature of the trade in recent months because of tariffs and sanctions, a situation that seems unlikely to change, the head of Norwegian producer Norsk Hydro said.A key effect was to push aluminium premiums in the United States to near-record highs at one point, Svein Richard Brandtz??g told Metal Bulletin on...Read More
The prices of base metals on the London Metal Exchange were mostly lower during morning trading on Thursday August 23, with broad weakness coming amid the implementation of corresponding US-Sino trade tariffs, respectively totaling $16 billion. Falling more than 2% over the morning, nickel prices have lost the most ground, but they remain well supported above $13,000 per tonne after falling to the...Read More
Efforts by the global aluminium industry to meet emissions targets are becoming the rule rather than the exception, and there is no going back, according to the chief executive officer of aluminium producer Norsk Hydro.This includes China, which has significantly increased its efforts to tackle pollution from industries including aluminium smelting in recent months."A market without strict environ...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday August 23*...Read More
Prices across the wire rod spectrum are steady this week, but market participants said supply chain and scrap-related dynamics are potential areas of volatility....Read More
Brazilian flat steel sales from distributors increased by 4.10% year-on-year in July, due to a recovery in the automotive and truck sector....Read More
Removing the blocks to progress on existing infrastructure works in Brazil could create demand for around 8.40 million tonnes of steel products over the next few years, according to a study by consultancy E8 Intelig??ncia....Read More
ArcelorMittal remains committed to its acquisition of Italian flat-rolled steel producer Ilva and to acting as a responsible owner and operator of the business, a company spokesman told Metal Bulletin on Thursday August 23....Read More
The biggest steel producer in the United Arab Emirates, Emirates Steel, has rolled over offer prices for September-rolling rebar, Metal Bulletin learned on Thursday August 23....Read More
The tender for the sale of Italian flat steel producer Ilva might be invalid, the country's minister for economic development, Luigi Di Maio, said on Wednesday August 22.Italian anti-corruption authority ANAC started an investigation in mid-July that might result in the cancellation of the tender to sell Ilva, which was won by a consortium led by ArcelorMittal.Earlier this month, Di Maio requested...Read More
Chilean lithium and iodine producer Sociedad Quimica y Minera's (SQM) earnings in the first half of 2018 rose by 21.2% year on year to $247.7 million from $204.4 million the year before. Total revenue from SQM's five businesses increased by 13% to $1.15 billion in the first six months of 2018, from $1.02 billion in the corresponding period last year. SQM's first-half results were led primarily by...Read More
Higher manganese ore prices helped South32 achieve earnings increases of up to 69% for the full year to June 2018 at its two manganese divisions,the miner announced on Thursday August 23....Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday August 23.Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Thursday, with lead and sister-metal zinc the only two to record significant gains, while the rest were little changed to weaker.Check Metal Bulletin's live futures report here.Zin...Read More
After continuing engagement with the market, Metal Bulletin has decided to extend the consultation period for its proposal to change its weekly price assessment to Rotterdam export HMS 1&2 (75:25) scrap material instead of Rotterdam export HMS 1&2 (70:30).The proposal was made following observations that HMS 1&2 (70:30) was no longer exported out of Rotterdam.The proposed amended specification is...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of the weekly Jobless Claims report at 8:30 AM EDT. Consensus was an increase to 215,000 from 212,000 last week. Actual was 210,000.Canadian Imperial Bank of Commerce (CM $121.73 Cdn) is expected to open higher after the Bank reported...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. ...Read More