Tin premiums were stable across global markets amid quiet trading conditions, while high outflows from Indonesia continue to keep market sentiment bearish.High inflows from Indonesia continue to keep market sentiment bearish, while sufficient supply and a weakening euro are keeping premiums flat across the board. Europe keeps steady amid quiet trading SHFE tin stocks rally 8% week on week US premi...Read More
Nickel premiums were unchanged in well-supported and stable markets in China, the United States and Europe in the week to Tuesday June 19. Volumes in China nickel market picks up Premiums hold steady in United States on the back of steady demand European premiums steady in quiet summer market China nickel premiums stable; trading activities tick up Premiums for cif Shanghai full-plate...Read More
A widening backwardation in LME forward prices has caused premiums for the metal to fall in Shanghai. Premiums for lead, meanwhile, are unchanged week on week. Backwardation in LME zinc's cash/three-month spread widens to $42 per tonne on MondayZinc premiums drop in Shanghai to 10-month low for cif, two month low for in-warehouseUS rates unchanged but could rise due to trucking shortage Backwardat...Read More
Prices for rebar produced and delivered in southern Europe have narrowed downward by ?,?10 per tonne over the past week, sources told Metal Bulletin on Wednesday June 20.Metal Bulletin's weekly price assessment for domestic rebar in southern Europe was ?,?475-490 ($550-568) per tonne delivered on Wednesday, down from ?,?475-500 per tonne one week earlier. The assessment includes offers and de...Read More
Prices for domestic hollow steel sections narrowed in North Europe and widened in South Europe this week, with the market cautious due to various tariff and safeguarding investigations, sources told Metal Bulletin on Wednesday June 20.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe narrowed by ?,?5 per tonne to ?,?635-65...Read More
Three-month base metals prices on the London Metal Exchange were up across the board on the morning of Wednesday June 20, with the complex up by an average of 0.3%. Nickel and zinc prices led the way with gains of 0.5%, while copper was up by 0.2% at $6,843 per tonne. This rebound follows yet another day of price weakness on Tuesday that saw the base metals complex drop by an average of 1.7% and t...Read More
Domestic prices for steel beams in Europe rose this week due to strong consumer demand and following an increase in scrap prices, sources told Metal Bulletin on Wednesday June 20. Metal Bulletin's weekly price assessment for domestic S235-grade, 200x200mm category-2 H-beam in Northern Europe rose by ?,?5 per tonne to ?,?580-615 ($672-713) per tonne delivered on Wednesday, from ?,?580-610 per...Read More
Turkish long steel producer Kroman Celik is upgrading its wire rod mill to produce a greater range of sizes and premium grades.The upgrade of the mill - which was installed in 2006 and started production in 2008 - will be completed in summer 2019, according to Italian equipment supplier Danieli, and will allow the company to produce wire rod in diameters of 4.5-26mm diameter and...Read More
Key data from the Wednesday June 20 pricing session in Europe. Key drivers - Steady demand for ferro-titanium in the past week has cemented prices in their current range, with little seen to change in the near term, sources said. - Almost 400 tonnes of alloy was reportedly traded in the spot market this week...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday June 20:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.10-11.20 per lb...Read More
Ferro-chrome prices cif China have risen over the past two weeks, underpinned by uncertain electricity supply at the country's main exporter, which could lead to higher production costs, as well as tightening domestic supply. Metal Bulletin calculated the charge chrome index cif China at $0.97 per Ib on Friday June 15, up 4 cents week on week and following another 4 cent increase the week pri...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. Walgreen gained $2.06 to $66.67 and General Electric fell $0.13 to $12.82 after Walgreen replaced General Electric in the Dow Jones Industrial AverageStarbucks dropped $2.15 to $55.28 after lowering guidance. Stifel Nicolaus lowered its target price to $55 from $58.FedEx (FDX $257.50) is...Read More
Russia's Metalloinvest - a major global supplier of iron ore, pig iron and hot-briquetted iron (HBI) - will replace two existing electric-arc furnaces (EAFs) at its Ural Steel asset in 2019, the company said on Wednesday June 20. The furnaces will be transitioned to using flexible modular furnace (FMF) technology, which will provide flexibility in the use of various charge components, with the pos...Read More
Seaborne iron ore trading activity picked up on Wednesday June 20 with bids and trades for Brazilian fines at higher levels.Metal Bulletin 62% Fe Iron Ore Index: $65.49 per tonne cfr Qingdao, down $0.96 per tonneMetal Bulletin 58% Fe Premium Index: $53.61 per tonne cfr Qingdao, down $0.01 per tonneMetal Bulletin 65% Fe Iron Ore Index: $88.30 per tonne cfr Qingdao, up $1.50 per tonneMetal Bulletin...Read More
Due to a technical error, Metal Bulletin's 62% Fe Iron Ore Index and PBF Differential were published incorrectly on Wednesday June 20, 2018. Metal Bulletin has corrected its 62% Fe Iron Ore Index, which was published incorrectly on May 20 due to a technical error. The 62% Fe Iron Ore Index was published at...Read More
Participants in the seaborne coking coal spot market are still staying on the sidelines after sentiment deteriorated earlier this week due to a brewing trade war between the United States and China. "There will be a tender for both a cargo of premium hard coking coal and a shipment of pulverized coal injection (PCI) product tomorrow. There will be more clarity on the market direction if a transact...Read More
China's ferrous futures remained subdued during morning trading on Wednesday June 20, with the benchmark contracts ending the session largely unchanged from their opening after experiencing major losses a day earlier.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,786 yuan ($585) per tonne, unchangedOctober hot-rolled coil: 3,880 yuan per tonne, up 6 yuan per ton...Read More
A lingering backwardation in the July/August spread has pushed European aluminium premiums down past to levels last seen before the United States imposed sanctions on Russian producer Rusal.The benchmark Rotterdam duty-unpaid P1020 in-warehouse premium fell to $90-100 per tonne on Tuesday June 19, down 39% from a high of $150-165 through April after the sanctions on Rusal.The duty-paid alumin...Read More
China's domestic hot-rolled coil prices were largely stable on Wednesday June 20 with buyers coming to terms with their concerns over the brewing trade war between the world's two biggest economies.DomesticEastern China (Shanghai): 4,260-4,290 yuan ($658-663) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 4,200-4,230 yuan per tonne, unchangedConcerns over the trade spat between China a...Read More
Ferroglobe PLC has entered into a joint development agreement with BioSolar Inc to pursue opportunities in the lithium-ion battery market.Ferroglobe subsidiary Silicio Ferrosolar SLU - based in A Coruna, Spain - will collaborate with BioSolar to develop and market silicon anode materials for high-power, high-energy lithium-ion batteries, Ferroglobe announced."We are excited to partner with&nb...Read More