Domestic prices for hot-rolled coil (HRC) in the EU have been stable this week with buyers remaining in "wait-and-see" mode, sources have told Metal Bulletin.Although activity is scarce, prices are not expected to go down, according to market sources.European steelmakers have largely sold out their second-quarter production of HRC, but have not announced new prices yet. The mills will make attempt...Read More
The latest metal markets news and price moves to start the North American day on Wednesday March 21. Base metals prices on the London Metal Exchange were on divergent paths during morning trading, with copper prices falling further. The three-month copper price was down $40 per tonne and trading at levels unseen since December 2017. Easing supply concerns have put pressure on copper prices over th...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Wednesday March 21. Base metal prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Wednesday with the risk-off tone persisting amid fears of a trade war between the United States and China, and ahead of the US Federal Open Market Committee's monetary p...Read More
While the programming behind algorithmic trading is still in relative infancy, these computerized systems are more likely to increase volatility in metals trading than reduce it, Lord Copper muses. A few weeks ago, fellow Metal Bulletin columnist Martin Hayes wrote about the dramatic fall in the prices of financial assets since the turn of the year. Stock markets across the world have given b...Read More
Zinc and lead trader Monika Zientara and aluminium trader Christian Hermetschweiler have resigned from Switzerland-based TMT Metals, Metal Bulletin has learned.The resignations follow that of senior aluminium trader Arefe Khosravi, who left TMT Metals late last year and recently joined Tiberius Group to drive a return to base metals trading. TMT Metals declined to comment on the latest resign...Read More
Base metals prices on the London Metal Exchange closed higher across the board on Wednesday March 21 after the dollar weakened slightly. The three-month copper price staged a recovery back toward the $6,800 per tonne support level. The red metal has come under pressure in recent days following easing supply concerns. Aluminium and nickel price remained rangebound, both closing marginally higher wh...Read More
Comex copper prices bounced back on Wednesday March 21 ahead of the conclusion of the US Federal Reserve meeting with the dollar experiencing a bout of weakness. Copper for May settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents or 0.3% to $3.0455 per lb. Yesterday, the contract hit a three-month low. "Today, the Fed concludes its two-day policy meeting which....Read More
While the programming behind algorithmic trading is still in relative infancy, these computerized systems are more likely to increase volatility in metals trading than reduce it, Lord Copper muses. A few weeks ago, fellow Metal Bulletin columnist Martin Hayes wrote about the dramatic fall in the prices of financial assets since the turn of the year. Stock markets across the world have given b...Read More
Domestic prices for steel beams have inched down across Europe although market participants expect to see mills raise their offer prices in the coming week after ferrous scrap prices increased.Prices for ferrous scrap in Italy increased by ?,?30 ($37) per tonne in March, while those in Germany rose by around ?,?20 per tonne."I expect to see some movement [in prices] because these guys can't keep r...Read More
Base metals prices on the London Metal Exchange closed higher across the board on Wednesday March 21 after the dollar weakened slightly. The three-month copper price staged a recovery back toward the $6,800 per tonne support level. The red metal has come under pressure in recent days following easing supply concerns. Aluminium and nickel price remained rangebound, both closing marginally higher wh...Read More
Major international mining companies active in the Democratic Republic of Congo (DRC) previously supported work on the new mining code by the country's Chamber of Commerce and are unfair to criticize the association, it said. The country's largest foreign miners, including Randgold Resources, AngloGold Ashanti, Glencore plc, Ivanhoe Mines, Gold Mountain International/Zijin Mining Group, MMG (PTY)...Read More
Comex copper prices bounced back on Wednesday March 21 ahead of the conclusion of the US Federal Reserve meeting with the dollar experiencing a bout of weakness. Copper for May settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents or 0.3% to $3.0455 per lb. Yesterday, the contract hit a three-month low. "Today, the Fed concludes its two-day policy meeting which....Read More
Nickel premiums in Shanghai dived to their lowest level in eight months on Tuesday March 20, due to the sustained negative arbitrage, while the majority of US and European premiums remained firm. Shanghai full-plate premiums dive to August 2017 lowNickel briquette premiums in Rotterdam dip due to more availabilityUS nickel premiums unchanged but demand is firm Shanghai premiums dive on negative ar...Read More
The latest metal markets news and price moves to start the North American day on Wednesday March 21. Base metals prices on the London Metal Exchange were on divergent paths during morning trading, with copper prices falling further. The three-month copper price was down $40 per tonne and trading at levels unseen since December 2017. Easing supply concerns have put pressure on copper prices over th...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday March 21*Copper -$84.89 (-538.7 yuan) Aluminium -$413.53 (-2,624.1 yuan) Zinc -$109.97 (-697.83 yuan) Nickel -$404.66 (-2,567.8 yuan) *Metal Bulletin calculates the physical...Read More
While the programming behind algorithmic trading is still in relative infancy, these computerized systems are more likely to increase volatility in metals trading than reduce it, Lord Copper muses. A few weeks ago, fellow Metal Bulletin columnist Martin Hayes wrote about the dramatic fall in the prices of financial assets since the turn of the year. Stock markets across the world have given b...Read More
European markets will not be flooded with imports of steel coil products after the United States applies its new import duty later this week, because US buyers of flat steel will be forced to pay the tariff, EU market sources have told Metal Bulletin.US President Donald Trump has approved the application of a 25% import tariff on steel imports from all countries apart from Australia, Canada and Me...Read More
Prices for rebar produced and delivered in Southern Europe narrowed downward by ?,?5 per tonne this week with demand and market activity weakening, sources told Metal Bulletin on Wednesday March 21."The price has moved down a little due to the very cold weather and weak demand," one Southern European producer source said.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europ...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Europe remained unchanged this week as market activity slowed, sources said on Wednesday March 21.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe was unchanged at ?,?550-560 ($676-689) per tonne delivered on Wednesday March."The market is under a little pressure, but this is more evid...Read More
Prices for rebar produced and delivered in Northern Europe have gone unchanged over the past week, with market demand low because of the recent cold weather in the region, market participants told Metal Bulletin on Wednesday March 21.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was stable at ?,?550-570 ($676-701) per tonne delivered on Wednesday, unchanged week-on...Read More