Import prices for steel billet in Southeast Asia and slab in the wider region including East Asia were flat over the past week amid a lack of transactions, with supply tightening while demand remained weak. BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $540-550 per tonne cfr for the week ended Monday July 30, the same as a week earlier.No deals involving 100-1...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
Tungsten prices retreated in the week to Friday July 27 after ammonium paratungstate supply from China resumed following the end of environmental-related suspensions in Jiangxi. Metal Bulletin assessed prices for ammonium paratungstate (APT) in the European free market at $323-330 per metric tonne unit, cif Rotterdam, on Friday, down from $333-341 per mtu the previous week. Prices had peaked...Read More
China's steel futures strengthened during morning trading on Tuesday July 31 following the release of monthly spot market inventory data showing a sustained decrease for Chinese rebar, while the raw materials contracts declined during the session.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 4,171 yuan ($612) per tonne, up 35 yuan per tonneOctober hot-rolled coil...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
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
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
Base metals on the London Metal Exchange moved higher at the close of trading on Tuesday July 31, supported by easing trade relations between the United States and China amid broad stock drawdowns and a seasonal summer slowdown. Both copper and nickel prices broke past nearby resistance levels in the afternoon rally, with aluminium the only metal to trade in negative territory. Edging back ab...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
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
The latest metal markets news and price moves to start the North American day on Tuesday July 31.Base metals on the London Metal Exchange were broadly rangebound during morning trading on Tuesday July 31, eased by stock drawdowns, cancelations and...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday July 31. Base metals prices on the Shanghai Futures Exchange were up across the board during morning trading on Tuesday, with a weaker dollar providing broad support to the complex.Check Metal Bulletin's live futures report here. Talison Lithium plans to increase its current lithi...Read More
Base metals on the London Metal Exchange moved higher at the close of trading on Tuesday July 31, supported by easing trade relations between the United States and China amid broad stock drawdowns and a seasonal summer slowdown. Both copper and nickel prices broke past nearby resistance levels in the afternoon rally, with aluminium the only metal to trade in negative territory. Edging back ab...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
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
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
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
Downward pressure continues to pervade the aluminium scrap market in the United States with no end in sight, with oversupply amplifying fears of further deterioration and sending some prices lower.Aluminium scrap prices have been in a free fall over the last few weeks, prompting suppliers to unload material in what many market participants are describing as a race to the bottom."I am trying t...Read More
The US copper premium maintained its four-year high heading into August, but market participants warned that spot market demand is expected to be sparse until after the Labor Day weekend, when copper consumers will return to the market for annual contract talks.That is a typical scenario, but 2018 has strayed from the norm with US copper premiums rising three times in the past two months amid...Read More
The US Midwest aluminium premium was flat to start this week, with market participants testing the willingness of buyers to pay a premium above 21 cents per lb. American Metal Market's latest assessment of the P1020 spot premium was at 20.25-20.75 cents per lb, unchanged from Friday July 27. The premium had been on an uptick since reaching a post-Section 232-tariff low of 19.5-20.25 cents per...Read More