Prices of seaborne coking coal bound for China continued to weaken on Wednesday June 12 with buyers still holding back from purchasing amid a pessimistic outlook for the market.A June-loading cargo of a top Australian brand was sold to an end user in eastern China at the June average of an index at a premium of around 4% during the day, sources told Fastmarkets.A cargo of second-tier hard coking c...Read More
China's domestic rebar prices withdrew on Wednesday June 12 on lower list prices and declining futures.Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($561-567) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,790-3,840 yuan per tonne, down 10-20 yuan per tonneA few major rebar producers lowered their ex-works prices over the past two days, which put pressure on the spot market, s...Read More
Eastern China's hot-rolled coil prices retreated on Wednesday June 12 after trading thinned following a short-lived rebound a day earlier.DomesticEastern China (Shanghai): 3,830-3,840 yuan ($554-555) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,780-3,800 yuan per tonne, unchangedTrading activity fell after prices bounced back on Tuesday, tracking an overall retreat in the country's...Read More
Base metals traded on the London Metal Exchange were largely suppressed during morning trading on Wednesday June 12 amid fresh US-Sino trade tension, uninspiring Chinese economic data and a dive in the United States' equities market.The increasing unlikelihood of a meeting between Chinese President Xi and United States President Donald Trump is the overwhelming factor renewing trade tensions and e...Read More
Key data from the Wednesday June 12 pricing session in London.Key drivers- Stagnant demand forced some traders to reduce their offers to offload material. The increase on the Wuxi Stainless Steel Exchange, which boosted Chinese prices, was not enough to positively affect the European market.- Sources do not expect rebounds in the European market before...Read More
Minor metals could become the next commodities to be caught up in the trade war between the United States and China, market sources have warned. But the effects on the prices for gallium and antimony have so far been minimal.The government in Beijing has made a number of gestures suggesting that it could restrict the export of rare earths to the US.These threats have met with some skepticism among...Read More
Key data from the Wednesday June 12 pricing session in Europe.Key drivers- The European ferro-titanium price fell for the third consecutive week after six weeks of stability. - Demand has quietened after an initial bout of short-covering from mid-April when major European producer FE Mottram announced a production stoppage after a fire damaged its plant in the...Read More
The following Fastmarkets minor metals prices changed on Wednesday June 12:Minor metalsAntimony MB free market regulus, $/tonne: $6,350-6,600 per tonne from $6,500-6,700Antimony MMTA standard grade II, $/tonne: $6,200-6,450 per tonne from $6,350-6,550Cobalt MB free market alloy grade, $/lb: $15.20-15.80 per lb from $15.80-16.40Cobalt...Read More
Risk sentiment was borderline negative on the morning of Wednesday June 12 after the possibility of US President Donald Trump and China's Xi Jinping meeting later this month at the Group of Twenty (G20) Summit in Japan was dubbed extremely unlikely.Trump threatened more tariffs on Chinese imports if there is not enough progress on trade negotiations with China or if the meeting with President Xi d...Read More
The price in Europe for molybdenum oxide rose in the first half of the week ended Wednesday June 12, with a workers' strike at Molymet's Nos plant in Chile supporting sentiment in an already tightening market.Earlier in the week, workers affiliated with trade union No1 at the Nos plant, Molymet's main production unit, went on strike after rejecting the Chilean molybdenum producer's latest offer in...Read More
South African ferro-chrome producer Mogale Alloys will idle two furnaces amid low ferro-chrome prices and rising costs, owner Afarak announced on Wednesday June 12.The plant normally produces 110,000 tonnes per year of ferro-chrome. It will continue to produce 4,000 tonnes per month of plasma charge chrome and 1,400 tpm of medium carbon ferro-chrome.The news came just a few weeks after Helsinki-he...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday June 12:The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday June 12:Aluminium scrapGroup 1 pure 99% & litho: ?1,260-1,300...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Index futures were virtually unchanged following release of Weekly Jobless Claims at 8:30 AM EDT. Consensus was 217,000 versus 219,000 last week. Actual was 222,000.WTI crude oil jumped $1.83 to $52.97 per barrel after two tankers were attacked near the Strait of Hormuz.Lululemon gained $...Read More
COPPER FREE CALLSCopper Free Calls – Copper Sell Call 1b15 given at 408.55 Achieved 1st 406.55. CMP 406.40. Total profit of 2.15 x 2 lot = 4.3 Points / Rs 4300TIPS ID 1b15 : Copper Tips - SELL Copper at CMP 408.55 for Target 406.55 - 405.10 with Small SL Above price 410.05. RISK Taker trade 2 lots Read More
Today LME Inventories : Zinc +625, Lead +725, Nickel +114, Copper -325, Aluminum -10825 Read More
COPPER CALLS TODAYCopper Calls Today – Copper Sell Call 1b15 given at 408.55 CMP 407. Low risk taker book 1.55 x 2 lot = Rs 3100 / 3.10 Points. RISK Taker SET SL to Cost for TGTTIPS ID 1b15 : Copper Tips - SELL Copper at CMP 408.55 for Target 406.55 - 405.10 with Small SL Above price 410.05. RISK Taker trade 2 lots Read More
Free Zinc Tips- SELL Zinc at CMP 206.10 for Target 205 – 204.50 with SL Above price 207.10 Read More
Aluminium Calls – BUY Aluminium at CMP 142.9 for Target 143.9 – 144.80 with SL 141.80 Read More
LEAD CALLSLead Calls – Lead Sell Call 1b14 given at 155.10 CMP 154.45. Low risk taker book 0.65 Points per lot. RISK taker Set SL to Small 155.55 and HOLDTIPS ID 1b14 : Lead Tips - SELL Lead at CMP 155.10 for Target 154.10 - 153.60 with SL Above price 156.15 Read More
Copper Tips – SELL Copper at CMP 408.55 for Target 406.55 – 405.10 with Small SL Above price 410.05. RISK Taker trade 2 lots Read More