Italian wire rod producers Feralpi and Caleotto - the latter a joint venture between Feralpi and steel trader Duferco - have each ordered new four-stand wire rod rolling lines and water-cooling equipment.The Meerdrive Plus wire rod rolling lines ordered by the two companies are "capable of rolling wire rod diameters from 4.5mm up to 27mm at speeds up to 120 meters per second," technology supplier...Read More
European import prices for austenitic alloy steel scrap narrowed slightly higher this week, with sources noting limited supply, however, the market is largely stable, with participants awaiting the third-quarter ferro-chrome benchmark settlement.Expectations for the ferro-chrome benchmark - a significant driver of steel scrap prices - had previously been for a substantial decrease amid weak spot p...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base MetalsThe Pasar copper smelter in the Philippines is likely to operate at a reduced capacity during the second half of the year while the company makes repairs to its sulfuric acid cooling plant.A few deals for cif main Japanese ports aluminium premiums for July-September delivery have...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday June 22.Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $10.95-11.05 per lb from $11.10-11.20Molybdenum US canned molybdic oxide, $/Ib $11.20-11.40 per Ib from $11.40-11.60Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $27.00-27.35 per kg from $27.40-27.70Ferro-molybdenum US 65-70...Read More
China's domestic spot battery-grade lithium hydroxide prices fell on Thursday June 21 following the recent downtrend in the lithium carbonate market as well as because of quiet buying activity among downstream consumers. Lithium hydroxide prices fell on lower offers and deals. Lithium carbonate prices stable in China due to slow market activity. Downstream consumers held off from buying in anticip...Read More
Prices for containerized shredded scrap imports into India edged up this past week, with market activity beginning to pick up once more following a lull in trading, market sources told Metal Bulletin on Friday June 22.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was up by $2.03 per tonne to $381.99 per tonne cfr Nhava Sheva on June 22, from $379.96 per tonne...Read More
Export prices for Brazilian pig iron have fallen this week amid fresh trading activity.Metal Bulletin's weekly price assessment for Minas Gerais-origin pig iron was $375-380 per tonne on Friday June 22, down from last week's $390-395 per tonne fob.At least two cargoes involving material produced in Brazil's southeastern Minas Gerais state sold at $375-380 per tonne fob,...Read More
High-grade fines and lumps continued to outperform other types of materials in the iron ore market on Friday June 22.Metal Bulletin 62% Fe Iron Ore Index: $65.34 per tonne cfr Qingdao, up $0.46 per tonneMetal Bulletin 58% Fe Premium Index: $53.57 per tonne cfr Qingdao, down $0.01 per tonneMetal Bulletin 65% Fe Iron Ore Index: $89.60 per tonne cfr Qingdao, up $1.90 per tonneMetal Bulletin 62% Fe Ch...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, tender, 190,000 tonnes of 61% Fe Pilbara Blend fines, sold at $62.51 per tonne cfr China,...Read More
Vietnam imported 389,685 tonnes of ferrous scrap in May, down 3.42% from 403,480 tonnes a year earlier.Japan continued to be the largest supplier of ferrous scrap to Vietnam, sending 94,304 tonnes of the steelmaking raw material last month, little changed from the 94,408 tonnes shipped to Vietnam in May last year.Hong Kong was the second-largest supplier, sending 60,471 tonnes in May, up...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade. The Canadian Dollar dropped U.S. 0.53 to 74.82 cents following release of economic news at 8:30 AM EDT. Consensus for the Canadian May Consumer Price Index on a year-over-year basis was an increase of 2.6%. Actual was 2.2%. Consensus for Canadian April Retail Sales was unchanged versus a...Read More
The seaborne coking coal market weakened on Friday June 22 amid lackluster trading and bearish sentiment.A 50,000-tonne cargo of a top Australian brand was traded at $212 per tonne cfr China a day earlier, market participants told Metal Bulletin during the day. "We will be on the sidelines for now. If prices for premium mid-vol materials do not fall to [around] $195 per...Read More
China's domestic rebar prices decreased on Friday June 22 amid high selling interest. Domestic Eastern China (Shanghai): 4,040-4,080 yuan ($622-628) per tonne, down 80 yuan per tonne Northern China (Beijing): 3,880-3,930 yuan per tonne, down 20 yuan per tonne Traders actively sold rebar to lower their inventory levels before end-user demand weakens further. But buyers also kept their procurement r...Read More
Nickel prices on the London Metal Exchange gained momentum during morning trading on Friday June 22, edging 1.9% higher while copper, lead and tin prices also found support. Edging back over $15,000 per tonne, nickel's three-month price topped the broadly positive trading across the complex, despite a strong appreciation in the US dollar dampening sentiment.Continuous outflows in nickel inventorie...Read More
China's domestic hot-rolled coil prices retreated slightly on Friday June 22 after trading activity fell due to bad weather.DomesticEastern China (Shanghai): 4,260-4,280 yuan ($656-659) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 4,200-4,220 yuan per tonne, down 20 yuan per tonne Although the rainy season for many parts of the country began earlier this week, the effect it had on th...Read More
Deliverable aluminium stocks at Shanghai Futures Exchange-approved warehouses have fallen by 1.7% or 16,009 tonnes over the past week to stand at 941,637 on Friday June 22. This week, Kangyun Logistics in Zhejiang province saw the most aluminium stocks leave its sheds with 3,536 tonnes."Although China has a tariff on primary aluminium, there is a tax rebate for aluminium foil and plate, which has...Read More
The following Metal Bulletin minor metals prices changed on Friday June 22:Antimony MB free market regulus, $/tonne: $8,000-8,250 per tonne from $8,050-8,300Bismuth MB China domestic, yuan/tonne: 60,000-61,000 yuan per tonne from 61,000-63,000 yuanCadmium MB free market min 99.95%, cents/lb: 125-135 cents from 120-135Cadmium MB free market min...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Metal Bulletin is amending its consultation regarding the Rotterdam tellurium price assessment. In light of feedback received as part of the consultation on refining its existing tellurium market coverage, Metal Bulletin has decided it would better serve the existing market conditions by amending its initial proposal published on May 25. Metal Bulletin is therefore now proposing to amend its exist...Read More
Growth in Chinese stainless steel demand will outpace growth in production this year, supporting a sector that must contend with robust barriers to export, market observers said at a conference in China this week.China will produce around 26 million tonnes of stainless steel this year, up 0.9% from 25.77 million tonnes a year ago, the China Ferroalloys Industry Association (CFIA) said.This increas...Read More