The US Midwest copper premium in the United States has risen by a half-cent, with freight costs propelling the market to a nearly four-year high.American Metal Market's assessment of the US copper cathode premium rose to 6.5-7 cents per lb delivered to the Midwest on Tuesday June 19, the highest level since mid-July 2014. This marks the second upward move since late May, when t...Read More
This notice is for a correction to Metal Bulletin's assessment of the Rotterdam duty-unpaid aluminium P1020 single number premium, published on June 19, 2018.Metal Bulletin has corrected its Rotterdam duty-unpaid aluminium P1020 single number premium, which was published incorrectly on June 19, 2018 due to an input error.The premium should have been $95 per tonne in-warehouse, not $100 per tonne i...Read More
Flat steel sales from Brazilian distributors dropped by 15.8% year on year in May, as the market was affected by the two-week truck drivers' strike last month.Sales reached 203,000 tonnes during the month, compared with 241,000 tonnes a year before, according to figures released by national flat steel association Inda on Tuesday June 19. Shipments also dropped by 9.8% from April's level of 225,100...Read More
The CIS export wire rod market picked up in the week ended Monday June 18, with customers accepting higher prices after a positive trend emerged in the billet segment and buying activity thawed following the end of the Islamic holy month of Ramadan.Metal Bulletin's weekly assessment of export prices for CIS-origin wire rod was $575-595 per tonne fob Black Sea on Monday, up from $560-580 per tonne...Read More
Prices for rebar and steel billet in the United Arab Emirates and Saudi Arabia were stable on low demand this week because of the Eid al-Fitr holiday that ended on Monday June 18 in the UAE and continues until Thursday in Saudi Arabia, sources told Metal Bulletin on Tuesday June 19.The Eid holiday, which started on June 15 and ended on June 17, marks the end of the Islamic holy month of Ramadan. H...Read More
Large traders in Russia's central region around Moscow have not resumed hot rolled (HR) and cold rolled (CR) steel sheet purchases despite lower offers from mills."We didn't buy material last week because according to our stocking agreement we can wait," one stockist trader told Metal Bulletin. "We had a short working week due to the [Russian public] holiday [June 11-12] and the World Cup slowing...Read More
China's domestic hot-rolled coil prices tumbled on Tuesday, the first trading day after the three-day Dragon Boat Festival, following US president Trump's tariff threat on $200 billion of Chinese goods.DomesticEastern China (Shanghai): 4,270-4,300 yuan ($663-668) per tonne, down 20-40 yuan per tonneNorthern China (Tianjin): 4,200-4,230 yuan per tonne, down 20-40 yuan per tonneHRC prices dropped to...Read More
Increased demand for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States has led to a rise in prices for the first time since early March. Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $550-565 per tonne fob Black Sea on Monday June 18, up from $535-555 per tonne a week earlier. In the three months to June 11, the average HRC export price...Read More
China's domestic rebar prices moved down on sparse trading on Tuesday June 19 amid weakening futures. Domestic Eastern China (Shanghai): 4,120-4,160 yuan ($640-646) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,910-3,940 yuan per tonne, down 40 yuan per tonne Futures tumbled during the day following threats by US President Donald Trump to impose a 10% tariff on more Chinese imports...Read More
Pilbara Minerals has made the first shipment of direct shipping ore (DSO) from its wholly owned Pilgangoora lithium-tantalum project in Australia.Via minor and iron ore explorer Atlas Iron, with which it has an offtake deal, Pilbara Minerals miner shipped 85,000 tonnes of DRO from Port Hedland to China on June 16.Pilbara Minerals has agreed to deliver at least 1 million tonnes of unprocessed lithi...Read More
Chile's National Economic Prosecutor's Office (FNE) is investigating the sale of a 24% stake in SQM, the country's largest lithium producer, to Chinese miner Tianqi.The deal comes at a time when lithium prices have soared thanks to increased demand from the electric vehicle sector, which requires lithium compounds to produce renewable car batteries. Metal Bulletin assessed the Chinese domesti...Read More
The recent uptrend in prices persisted across the Chinese, European and United States' vanadium markets owing to low availability. Fob China vanadium prices rose on domestic tightness as uptrend continues European ferro-vanadium market strengthened once again amid supply concerns US ferro-vanadium market ascends on low availability Metal Bulletin assessed fob China ferro-vanadium min 78...Read More
Production curtailments at major Chinese producer Ningxia Tianyuan will continue to support manganese flake and ferro-chrome markets, market participants have told Metal Bulletin. Last month, Ningxia Tianyuan, the world's biggest manganese flake producer, cut manganese flake output by around 16,000 tonnes per month after one of its three facilities were closed for maintenance, a source at the...Read More
Ammonium paratungstate (APT) prices continued to be buoyed in the latest pricing sessions by producer shutdowns in China's Jiangxi province, with the effects felt in the European market too. Low availability in the ammonium paratungstate market continues, but the export market saw fewer inquiries in the past week Prices for domestic tungsten concentrates and fob China ferro-tungsten remaine...Read More
Jupiter Mines has generated unexpectedly strong cashflow as a result of robust manganese ore prices and is proposing that its South African mine Tshipi Borwa distributes 1.5 billion South African rand ($111 million) to shareholders this September.Metal Bulletin's 37% manganese ore index, fob Port Elizabeth, rose 11 cents week on week to $5.63 per dry metric tonne unit (dmtu) on Friday June 15. The...Read More
Key data from Metal Bulletin's Wednesday June 13 pricing session in China.Key drivers- Demand from downstream participants has waned.- Chinese steel mills have not been active in procuring cargoes, leaving molybdenum concentrate producers with no choice but to reduce offers to secure business.-...Read More
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Turkish ferrous scrap import prices were relatively stable on Tuesday June 19, with only slight movement seen after news of three deep-sea cargo bookings emerged following a pause in the market the previous day.A steel mill in the Iskenderun region booked a cargo from the United States on Monday comprised of 15,000 tonnes of HMS 1&2 (80:20) at $355 per tonne cfr, 15,000 tonnes of plate a...Read More
New US tariffs and threats of...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as...Read More
A ferrous scrap cargo sold from the US East Coast to Turkey at higher prices on Monday June 18, indicating continued strength in the US scrap export market.One East Coast exporter sold 15,000 tonnes of an 80:20 mix of No 1 and No 2 heavy melting scrap at $355 per tonne cfr,...Read More