The latest metal markets news and price moves to start the North American day on Tuesday July 24....Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday July 24.Base metals prices on the Shanghai Futures Exchange were split into two camps during morning trading on Tuesday, with nickel, zinc and tin weakening, while the rest ticked higher - led by a 0.7% increase in copper.Check Metal Bulletin's live futures report here. UC Rusal's shar...Read More
China has launched an anti-dumping investigation into imports of stainless steel billet and slab, as well as stainless hot-rolled plate and coil produced in the European Union, Japan, South Korea and Indonesia, according to a notice by the country's Ministry of Commerce on Monday July 23. The period being investigated is the whole of 2017 while timeframe being probed to determine industrial damage...Read More
Base metals on the London Metal Exchange finished higher on Tuesday July 24, finding support from a weaker dollar index and easing tensions related to the trade spat between the United States and China....Read More
Trading activity in the seaborne coking coal spot market appears to have thinned, while Chinese participants wonder whether a price floor has been reached. ...Read More
China's hot-rolled coil prices retreated on Tuesday July 24 after trading activity fell in the wake of increases a day earlier, sources said....Read More
The export price for CIS-origin steel billet softened on Tuesday July 24 amid a lack of buying activity in the major outlets, Metal Bulletin has heard....Read More
Outokumpu has blamed its weaker year-on-year financial results for the second quarter of 2018 on lower European base prices, higher input costs and increased freight rates in the US market. ...Read More
The secondary aluminium scrap market in the United States has continued to deteriorate due to swelling scrap supplies outpacing demand....Read More
INTL FCStone's Edward Meir has topped the base metals leader board in the Apex second-quarter 2018 contest, with an accuracy rating of 99.56%, while Commerzbank was top of the precious metals table with 99.19% accuracy....Read More
Noranda Income Fund said its main challenge currently is for its zinc processing facility to continue to operate profitably amid current low treatment charges. The Toronto, Canada-headquartered company said spot TCs averaged roughly $38 per tonne in 2017 and around $20-$25 per tonne in the first half of 2018, noting market tightness due to the closure of several large mines in recent years and str...Read More
The copper price on Comex surged to a multi-week high in morning trading in the US on Tuesday July 24 amid a bout of technical buying and a softer dollar....Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. ...Read More
ArcelorMittal has informed the Extraordinary Commissioners responsible for Italian steelmaker Ilva that it "accepts all the substantive requests for additional commitments with respect to the lease and purchase contract signed in June 2017," the company said on Tuesday July 24....Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. ...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly stable this week, with the only changes being seen in the price ranges for imports of hot-rolled coil (HRC), sources told Metal Bulletin on Tuesday July 24....Read More
Hot-rolled (HR) and cold-rolled (CR) steel sheet suppliers to Russia's central region around Moscow have not cut their prices further this week despite low levels of demand....Read More
Rebounds coming? After the long drawn-out period of price weakness, the base metals seem to have found some support. A weak dollar and oversold technical conditions have helped trigger some buying, and China’s announcement of tax cuts, infrastructure spending and injection into the banking system this week may just be the catalyst needed to bring about short-covering and more bargain hunting....Read More
The latest metal markets news and price moves to start the North American day on Tuesday July 24....Read More
Price consolidating, helped by dollar remaining under pressure Although little progress was made in resolving rising trade uncertainties at the G20 meeting over the weekend, the US dollar remains under modest pressure at the start of this week after US President Donald Trump criticized the Federal Reserve for raising interest rates and accused other central banks of manipulating their currencies l...Read More