A summary of Glencore's second quarter production results for the three months ended June 30 (own-sourced output volume, year-on-year change):Copper - 350,800 tonnes, +10%Increase reflects the restart/ramp-up of Katanga operations in the Democratic Republic of Congo. Own-source copper sales during the period were some 32,000 tonnes lower due to timing of shipments H1 2018 production was up 8%...Read More
Prices for low-grade and high-grade manganese ore continued to diverge over the past week, with those for lower-grade material falling while quotations for higher-grade ore rose on the back of last-minute trades concluded at higher prices. Low grade ore prices slide while higher grade rises Chinese silico-manganese prices strengthen Indian silico-manganese prices dip at low end ...Read More
Unionized workers at the Escondida copper mine in Chile are likely to vote unanimously to strike when ballots are counted on August 1, union officials told Metal Bulletin."60% of our associates have already voted, which means workers are more united than ever, giving their full support to union representatives and the call to vote strike," officials from Escondida's main union, Sindicato No1, in a...Read More
Charge chrome and ferro-chrome prices weakened in China last week amid poor demand and a protracted standoff in the ore market. Charge chrome import prices weaken in ChinaUG2 chrome ore prices drop in China Alloy prices fall in South Korea, Japan European, US alloy prices steadyImported chrome prices weakened in China on Friday July 27 due to poor demand that has left the chrome ore market in a st...Read More
With the trial of suspects involved in the Fanya Metal Exchange finally taking place earlier this month in Kunming, China, concerns of the vast minor metals stocks the exchange held have re-emerged. A two-day public trial took place at Kunming Intermediate People's Court, Yunnan province, on June 30 to July 1, accusing four companies and 21 defendants of violating national law and illegally raisin...Read More
A summary of Glencore's second quarter production results for the three months ended June 30 (own-sourced output volume, year-on-year change):Copper - 350,800 tonnes, +10%Increase reflects the restart/ramp-up of Katanga operations in the Democratic Republic of Congo. Own-source copper sales during the period were some 32,000 tonnes lower due to timing of shipments H1 2018 production was up 8%...Read More
A crackdown on the quantities of waste included with scrap material imported into China has created a global glut in scrap supply, pushing down achieved prices in the European ferrous and non-ferrous markets.China submitted a document to the World Trade Organization in July last year informing the group that it would no longer take in any "foreign garbage" alongside commodities, including such as...Read More
Comex copper prices recovered after a three day downturn with talks of a strike at Escondida mine spurring the red metal higher.Copper for September settlement on the Comex division of the New York Mercantile Exchange rose 2.30 cents or 0.8% to $2.8150 per lb.With a potential strike looming, production cuts at the Chilean mine have historically affected the...Read More
A summary of Glencore's second quarter production results for the three months ended June 30 (own-sourced output volume, year-on-year change):Copper - 350,800 tonnes, +10%Increase reflects the restart/ramp-up of Katanga operations in the Democratic Republic of Congo. Own-source copper sales during the period were some 32,000 tonnes lower due to timing of shipments H1 2018 production was up 8%...Read More
Glencore produced 16,700 tonnes of cobalt in the first half of the year, up 31% compared with a first half of 2017.Increased production from the company's African copper assets (Katanga, Mutanda and Mopani) accounted for the bulk of the rise; the assets produced 14,800 tonnes of cobalt in the first six months of 2018, versus 11,200 tonnes a year earlier. The increase is attributable to the ramp-up...Read More
Metal Bulletin is proposing to discontinue its weekly price assessments for Iranian imports of hot-rolled coil (HRC) and cold-rolled coil (CRC).The proposal follows a significant drop in import volumes of flat steel products into the country during the current Iranian year, which began on March 21, 2018.Over the first three months of this period (March 21-June 21), HRC import volumes dropped by 71...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia decreased this week, with demand still weak, sources told Metal Bulletin on Tuesday July 31. Demand is weak in both national markets because of the seasonal summer slowdown, with buyers booking only small quantities. And no improvement is expected before late August. The Islamic Hajj and Eid al Adha religious celebrations w...Read More
China's domestic hot-rolled coil prices widened upward on Tuesday July 31 amid continual production cuts, while export prices weakened slightly with a segment of the market bidding lower.DomesticEastern China (Shanghai): 4,290-4,310 yuan ($629-632) per tonne, widening upward 10 yuan per tonneNorthern China (Tianjin): 4,220-4,240 yuan per tonne, widening upward 10 yuan per tonneDomestic prices rema...Read More
Earnings at Novolipetsk Steel (NLMK), Russia's largest steelmaker, soared by 52% year-on-year in the second quarter of 2018 on better prices and increased sales volumes, the company said in a financial report on Tuesday July 31.In April-June, NLMK's earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $915 million, against $603 million in the corresponding period last ye...Read More
UK long steel producer British Steel has announced that it intends to increase the price of its structural sections by ?30 ($39) per tonne with effect from deliveries from August 1."Due to continued strong demand and low stocks in the supply chain, we're increasing the prices of our structural sections," Richard Farnsworth, British Steel's managing director for construction materials, said."UK de...Read More
As a result of a technical error, iron ore prices for July 31 were published on the Metal Bulletin price book later than scheduled. Metal Bulletin's price book has been updated and the affected prices are showing as normal. To provide feedback on delayed publication for the iron ore indices, please contact Deepali Sharma by email at: peter.hannah@metalbulletin.com. Please add the subject heading '...Read More
Seaborne iron ore fines traded at higher prices on Tuesday July 31 while a lump cargo changed hands at a weaker price, Metal Bulletin was told.Metal Bulletin 62% Fe Iron Ore Index: $68.19 per tonne cfr Qingdao, up by $0.54 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $67.17 per tonne cfr Qingdao, up by $0.59 per tonne.Metal Bulletin 58% Fe Premium Index: $55.21 per tonne cfr Qingdao,...Read More
Global direct-reduced iron (DRI) output increased 27.15% year on year in June 2018, according to new statistics published by the World Steel Association (Worldsteel) late last week.Total output was 7.31 million tonnes in June 2018 compared with 5.75 million tonnes a year previously, an increase of 1.56 million tonnes.Production was down on a monthly basis, with May figures 160,000 tonnes...Read More
Prices for domestic and imported rebar in the United Arab Emirates decreased on Tuesday July 31, with demand limited for seasonal reasons, sources told Metal Bulletin.Domestic rebar producers announced reduced prices last week, while import prices for rebar also fell.Domestic rebarThe biggest steel producer in the country, Emirates Steel, is offering rebar at 2,178 dirhams ($593) per tonne ex-work...Read More
China's domestic rebar prices moved up further on Tuesday July 31 following gains in the futures market. Domestic Eastern China (Shanghai): 4,180-4,220 yuan ($613-619) per tonne, up 20-30 yuan per tonne Northern China (Beijing): 4,080-4,120 yuan per tonne, up 20 yuan per tonne The number of Chinese cities that will implement production cuts during the winter heating season between late 2018 and ea...Read More