Mergers and acquisitions in the metals and mining sector may have slowed overall but battery metals deal activity has begun to accelerate, according to a report by consultancy EY. Deal value for rare earths and lithium assets was up 22% year on year in the first half of 2018, with companies increasingly looking to capitalize on future demand for electric vehicles (EVs), the report noted. "Mining a...Read More
In response to a "harsh business environment", five companies under major Japanese steelmaker Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group will integrate and reorganize their welded stainless steel pipe and tube businesses, the group announced on Thursday August 2.The change will take place around April 1, 2019, after Nisshin Steel Co., Ltd becomes a wholly-owned subsidiary of NSSMC. Ni...Read More
Turkish steel mills pulled back from the deep-sea scrap markets again on Thursday August 2, keeping prices relatively stable.Mills broke their silence in trading activity on Wednesday when a steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 12,500 tonnes of bonus and 2,500...Read More
Terms for blister copper refining charges (RCs) in China dropped notably month on month in July while declining copper scrap imports gave rise to additional demand for overseas blister copper.Metal Bulletin assessed the monthly blister copper 98-99% spot RC, cif China, at $200-210 per tonne on July 31, with African tonnages reported sold within the range in July. One major blister copper buyer in...Read More
Comex copper prices have extended the latest downturn and are now trading at the lowest point since June 20 on Thursday August 2 morning in the US, due to another round of trade worries. Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 1.55 cents or 0.6% to $2.7320 per lb. The contract also hit a low of $2.7075 per lb.Ongoing trade tensions between t...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.7% on the morning of Thursday August 2. Zinc led the gains with a 1.3% increase to $2,572 per tonne, while copper was up by 0.7% at $6,168 per tonne.This follows a downbeat day on Wednesday when the complex closed with losses averaging 2.7%, led by a 4.8% drop in nickel and 3.6% fall in zinc. Th...Read More
INTL FCStone Ltd is developing a technology platform designed for its London Metal Exchange customers as it turns its focus to building out its global metals business following an internal restructuring. The company's newly appointed global head of metals Barry Canham told Metal Bulletin in an interview that the technology-led approach for LME clients would be similar to that already adopted for t...Read More
Mergers and acquisitions in the metals and mining sector may have slowed overall but battery metals deal activity has begun to accelerate, according to a report by consultancy EY. Deal value for rare earths and lithium assets was up 22% year on year in the first half of 2018, with companies increasingly looking to capitalize on future demand for electric vehicles (EVs), the report noted. "Mining a...Read More
Metal Bulletin will launch a weekly Chinese domestic ex-works battery-grade lithium carbonate index on Thursday August 2 to run in parallel to the existing price assessment, following a successful market consultation. Metal Bulletin launched a market consultation in May to migrate its existing price assessment for battery-grade lithium carbonate, ex-works China, to an index. Despite the overw...Read More
Cobalt trade log including business, bids and offers reported to Metal Bulletin.Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back.Metal Bulletin prices Click here for Metal Bulletin's price assessment for low-grade cobalt, in-warehouse, $ per lbClick here for Metal Bulletin's price assessment for high-grade cobalt, in-warehouse, $ per lbIn li...Read More
Demand for flat steel in Turkey will remain moderate throughout August, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday August 2.Local producers have filled their order books until the end of September, and are planning to increase their prices for October bookings, despite weak local demand.Stock levels are not high in...Read More
China's ferrous futures weakened further during morning trading on Thursday August 2.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 4,117 yuan ($604) per tonne, down 13 yuan per tonneOctober hot-rolled coil: 4,157 yuan per tonne, down 7 yuan per tonne Dalian Commodity Exchange September iron ore: 473 yuan per tonne, down 2 yuan per tonne September coking coal: 1,1...Read More
US domestic and imported rebar prices are steady this week, with the Section 232 tariffs - implemented on June 1 - effectively pricing imports out of the market. And despite concerns over supply tightness and transport issues, there is little indication that this will change in the near term, sources said.American Metal Market's assessment for domestic rebar held at $35-36 per hundredweight (...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarEgypt, domestic (El Garhy Steel), rebar, offered at...Read More
Steel billet import prices decreased slightly this week in Egypt with lower offers in the market, while domestic rebar prices were unchanged, sources told Metal Bulletin on Thursday August 2.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on August 2 was stable at E ?12,525-12,528 ($700) per tonne ex-works.The country's major rebar producer, Ezz Steel, is still offering the ma...Read More
The pig iron export market in the Commonwealth of Independent States has softened on falling scrap prices, sources told Metal Bulletin on Thursday August 2.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region went down to $380-390 per tonne fob Black Sea on Thursday, from $390-395 per tonne the week before."The scrap price has fallen dramatically in Turkey.No on...Read More
Turkish steel mills pulled back from the deep-sea scrap markets again on Thursday August 2, keeping prices relatively stable.Mills broke their silence in trading activity on Wednesday when a steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 12,500 tonnes of bonus and 2,500...Read More
The seaborne iron ore market remained inactive on Thursday August 2 with plenty of offers heard that did not culminate in transactions, with buyers exercising caution.Metal Bulletin 62% Fe Iron Ore Index: $66.87 per tonne cfr Qingdao, up by $0.32 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.08 per tonne cfr Qingdao, up by $0.32 per tonne.Metal Bulletin 58% Fe Premium Index: $54.4...Read More
Demand for flat steel in Turkey will remain moderate throughout August, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday August 2.Local producers have filled their order books until the end of September, and are planning to increase their prices for October bookings, despite weak local demand.Stock levels are not high in...Read More
Steel billet import prices decreased slightly this week in Egypt with lower offers in the market, while domestic rebar prices were unchanged, sources told Metal Bulletin on Thursday August 2.Metal Bulletin's weekly price assessment for domestic rebar in Egypt on August 2 was stable at E ?12,525-12,528 ($700) per tonne ex-works.The country's major rebar producer, Ezz Steel, is still offering the ma...Read More