Iranian export billet prices increased by $5-10 per tonne over the week ended Wednesday July 11 because the availability of material in the market tightened, Metal Bulletin has heard.One of the reasons for a reduced allocation of billet for exports was increased demand for the semi-finished product in the domestic market. This was not spurred by real consumption, however, but by a loss in the valu...Read More
An open import arbitrage in China helped support nickel premiums in the week to Tuesday July 10, while premiums were unchanged in Europe and the United States. Open import window push premiums in China higher Premiums unchanged in Europe in quieter summer season US demand and premiums stable Chinese premiums up amid open import window Shanghai-bonded Nickel premiums rose at the l...Read More
The Avebury nickel mine, in Australia's island state of Tasmania, is set to restart after almost ten years of inactivity, because of the current high price for nickel and healthier prospects for demand, Metal Bulletin heard on Wednesday July 11.Switzerland-based trader Transamine has signed a multi-year offtake contract with the mine's owner, Dundas Mining, for the sale of all nickel concentrates...Read More
Comex copper prices set a new low this morning on July 11 in the US, with President Donald Trump threatening an additional $200 billion in tariffs on Chinese goods.Copper for September settlement on the Comex division of the New York Mercantile Exchange tumbled 8.45 cents or 3% to $2.7550 per lb. Continued uncertainty surrounding trade relations between the United States and China have added...Read More
Premiums for zinc and lead ingots were unchanged globally over a week in which exchange prices for both metals continued to fall, breaking to fresh one-year lows. Zinc premiums remain under pressure from slack demand, backwardated spreads But LME cash/three-month backwardation narrows vs last week Lead premiums unchanged China zinc premium under pressure amid LME backwardationIn China, premiu...Read More
The latest news and price moves to start the North American day on July 11.Base metals on the London Metal Exchange were plummeted during morning trading due to unsettled by trade tensions amid threats of further US-imposed tariffs against $200 billion worth of Chinese goods.Here is how base metals prices looked at 12:08pm London time:Read our live futures report here."The rout in base metals cont...Read More
Base metals on the London Metal Exchange were broadly lower during morning trading on Wednesday July 11, unsettled by trade tensions amid threats of further US-imposed tariffs against $200 billion worth of Chinese goods.The announcement comes after the US implemented tariffs on $34 billion worth of goods last week, prompting large scale sell-offs across the complex and adding more fuel to the ongo...Read More
Argentina's automotive production dropped by 13.40% year-on-year in June 2018, with the sector affected by a national strike and also by protests in neighboring Brazil, according to national automotive association Adefa.Production totaled 39,420 vehicles in June, compared with 45,496 units in the corresponding month last year, Adefa said last week. It was the first monthly decrease of this year in...Read More
Domestic prices for steel beams in Europe remained unchanged this week, despite mills cutting offer prices in response to the arrival of low-priced imported material, sources told Metal Bulletin on Wednesday July 11.Metal Bulletin's weekly price assessment for domestic S235-grade, 200x200mm category-2 H-beam in Northern Europe were flat week on week at ?,?590-630 ($692-739) per tonne delivere...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Southern Europe strengthened over the past week, amid supply concerns before the expected preliminary decision in the EU safeguard case, sources said on Wednesday July 11.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Southern Europe was ?,?530-550 ($622-645) per tonne delivered on Wednesday, up fro...Read More
Prices for rebar produced and delivered in Southern Europe rose sharply for the second consecutive week while supply tightened amid summer mill maintenance, sources told Metal Bulletin on Wednesday July 11.Metal Bulletin's weekly price assessment for domestic rebar in southern Europe was ?,?505-530 ($593-622) per tonne delivered on Wednesday, up from ?,?500-515 per tonne one week earlier. The asse...Read More
The Turkish Steel Producers Association (TCUD) has warned that Turkey may become an open market for dumped steel imports unless swift action is taken by the government. Turkey's steel exports fell by 3.90% to 8.14 million tonnes in January-May 2018, while steel imports increased by 18% to 7.5 million tonnes, TCUD said on Wednesday, July 11. The main reason for the decline in Turkey's steel ex...Read More
Key data from the Wednesday July 11 pricing session in Europe. Key drivers - Ferro-titanium prices dropped amid slow trading activity in seasonal slowdown, with steel plants shutting for worker vacations. Some steel mills in Europe are shutting for three weeks until Monday August 6. - Some suppliers lowered their offer prices to encourage buying interest and book some profits before...Read More
The following Metal Bulletin minor metals prices changed on Wednesday July 11:Minor metals Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 51,000-52,000 yuan per tonne from 50,500-51,500 yuan Cobalt MB free market high grade, $/lb: $38.30-39.65 per lb from $38.85-40.00 Cobalt MB free market low grade,...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday July 11:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $10.75-10.90 per lb from $10.65-10.80 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam,...Read More
Largo Resources Ltd has reached yet another milestone at the Maracas Menchen mine after achieving a new average daily production record of 29.4 tonnes of vanadium pentoxide (V2O5) per day during the month of June.The Toronto, Canada-based vanadium producer saw total production reach 2,458 tonnes of V2O5 at the Brazilian mine during the second quarter of 2018, up 13% from 2,183 tonnes in the same y...Read More
Prices for US heavy melting scrap (HMS) exports to Turkey dropped by as much as $10 per tonne in three lower-priced cargoes reported on Tuesday July 10, while the bulk scrap market off the US West Coast remained quiet.The lowest-priced cargo involved 36,000 tonnes of an 80:20 mix of No 1 and No 2 HMS sold at $343 per tonne cfr - down from cargoes sold at around $353 per tonne cfr from the US East...Read More
Metal Bulletin has corrected its import price assessment for hot-briquetted iron (HBI) in Italy, which was published incorrectly on June 29, 2018, due to an administrative error.The price was published at $300-310 per tonne cfr. It has subsequently been corrected to show $320-330 per tonne cfr.The specifications for this assessment are as follows: Assessment: Italian hot-briquetted iron, $ per ton...Read More
Iron ore export volumes from Western Australia's Port of Port Hedland surged by 9.8% year-on-year in June 2018 to a new record high.The port shipped 47.29 million tonnes of the steelmaking raw material last month, compared with 43.09 million tonnes a year earlier, according to data released by the Pilbara Ports Authority on Tuesday July 10.This volume was 5.2% higher than May's 44.97...Read More
Prices for seaborne Australian iron ore fines and lumps fell slightly on Wednesday July 11 while more details emerged over possible measures to cut emissions in China's steelmaking hub.Metal Bulletin 62% Fe Iron Ore Index: $63.34 per tonne cfr Qingdao, down $0.57 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.16 per tonne cfr Qingdao, down $0.66 per tonneMetal Bulletin 58% Fe Premiu...Read More