Operations at the Nchanga copper smelter, the largest in Zambia by capacity, have been completely suspended during a dispute between the country's government and Indian company Vedanta, the majority owner of smelter operator Konkola Copper Mines (KCM), local media reported on Tuesday June 11.Zambian news provider The Independent Observer reported that the license key for the software that controls...Read More
The global refined tin market may be experiencing a shortage in the delivery of tin concentrates that could cause fundamental market tightness and a higher three-month tin price on the London Metal Exchange, numerous supply-side sources informed Fastmarkets.This follows reports that China, the world's largest tin producer, is struggling to source consistent imports from its principal supplier, Mya...Read More
Brazilian production of light vehicles increased by 29.9% year on year in May due to a recovery in domestic consumption.The country produced 275,700 units in May, up from 212,300 units a year earlier, according to figures released by national car association Anfavea late last week.The increase in production was mainly due to a continuing recovery in domestic market consumption, Anfavea said.....Read More
The European Commission (EC) has prohibited the creation of a regional flat steel joint-venture by ThyssenKrupp and Tata Steel under EU merger regulations, the EC said on Tuesday June 11.The EC determined that the merger would have reduced competition and increased prices for various types of steel products, and the steelmakers had not offered adequate remedies to address those concerns, the EC sa...Read More
The export market for steel slab from the Commonwealth of Independent States was quiet in the first week of July, with some major producers preferring to hold back their offers due to the uncertain market conditions.Market participants expected competition with Brazilian suppliers to escalate in the coming weeks because the South American country's quota for imports into the United States was clos...Read More
The CIS export rebar and wire rod market was quiet in the week to Monday June 10 due to the Eid holidays, marking the end of the holy month of Ramadan, in the major sales outlets.Customers preferred to take a wait-and-see position, expecting prices to decrease in the near term following the softening of import scrap prices in Turkey at the end of last week. Indications of rebar offers from Ukraine...Read More
China's domestic hot-rolled coil prices bounced back on Tuesday June 11 amid robust trading supported by rebounding futures.DomesticEastern China (Shanghai): 3,840-3,850 yuan ($554-556) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,780-3,800 yuan per tonne, up 40-50 yuan per tonneTrading activity rose during the day amid gains in the futures market, in contrast with the subdued buy...Read More
The Turkish deep-sea scrap import market was mostly quiet on Tuesday June 11 with the mills focused on making sales of finished steel, sources told Fastmarkets.The mills in Turkey booked three deep-sea cargoes from the United States over the weekend, taking advantage of falling prices.The prices on those cargoes sent the daily scrap indices down by around $11-12 per tonne at the beginning of the w...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 transactions: iron oreIron oreVale, tender, 105,000 tonnes of 64.48% Fe Pellet Feed Carajas, traded at the July average of the Fastmarkets...Read More
Thin trading kept prices for seaborne coking coal largely stable on Tuesday June 11.A June-loading cargo of a top Australian brand was being negotiated for a trade against the June average of an index at a premium of around 4% during the day, sources said. No transaction was finalized at the time of writing.A shipment of lower-ranked second-tier hard coking coal, scheduled for loading at the end o...Read More
China's rebar prices rebounded on Tuesday June 11 after Beijing urged local governments to issue special bonds to support economic growth and maintain a reasonable level of liquidity in the market.Domestic Eastern China (Shanghai): 3,900-3,940 yuan ($563-569) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,800-3,860 yuan per tonne, widened upward by 20 yuan per tonneThe State Council...Read More
Base metals prices on the London Metal Exchange were higher across the board during morning trading on Tuesday June 11, improving despite continued trade war uncertainty while both the United States and China continue to threaten additional tariffs. Climbing furthest over the morning, three-month nickel futures are now trading 2% higher and back above $11,850 per tonne after falling to an intraday...Read More
With the exception of nickel that was little changed, base metals prices on the Shanghai Futures Exchange were all up during morning trading on Tuesday June 11.The broad-based strength exhibited by the base metals comes amid an improvement in risk sentiment while market participants focus on an upcoming meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at the Group o...Read More
The domestic spot price for gallium in China has remained unchanged for around a month, with suppliers holding their offers steady despite persistently weak demand because some domestic alumina refiners were ordered to halt production, market sources told Fastmarkets on Tuesday June 11.Fastmarkets assessed the price of Chinese domestic gallium, min 99.99%, at 950-980 yuan ($137-141) per kg on June...Read More
U.S. equity index futures moved lower this morning. S&P 500 futures were down 5 points in pre-opening trade.Index futures were virtually unchanged following release of the May Consumer Price Index report at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 0.3% in April. Actual was an increase of 0.1%. Excluding food and energy, consensus for the May Consumer Price Index was an i...Read More
NICKEL TRADING TIPSNickel Trading Tips – Nickel Buy Call 1af2 given at 855.25 (858.50+852 Made 851.10 yesterday) Achieved 2nd Target 877 (Made 877) Total profit of 43.5 PointsCALL ID 1af2 : Free Nickel Tips - Buy Nickel at CMP 858.50 Add more at price 852 with Small SL Just 848.40 for Target 868 - 877 Read More
ZINC COMMODITY LIVE TIPSZinc Commodity Live Tips – Zinc Buy Call 1b05 given at 205.65 Achieved 1st 206.80. CMP 207.70 Almost 2nd Target (207.8 hit) Profit of 2.05 Points ProfitCALL ID 1b05 : Zinc Tips - BUY Zinc at CMP 205.65 for Target 206.80 - 207.80 - 209 with SL 204.0 Read More
ALUMINIUM PROFIT TIPSAluminium Profit Tips – Aluminium Buy Call 1b02 given at 143.20 Achieved 1st Target 144.10. CMP 144.20. Total 1 points per lot profitCALL ID 1b02 : Aluminium Calls Today - Buy Aluminium between 143.15 - 143.35 (CMP 143.30) for Target 144.10 & 144.80 with SL below 142.20 Read More
COPPER INTRADAY TODAYCopper Intraday Today – Copper BUY Call 1b07 given at 412.60 Achieved 1st 414.60. CMP 414.80. Total 2.20 x 2 lot = 4.40 Points / Rs 4400 ProfitTIPS ID 1b07 : Copper Today - BUY 2 lot Copper at CMP 412.60 for Target 414.60 - 415.80 with S L 410.40 Read More
ZINC TARGET LEVEL TODAYZinc Target Level Today – Zinc Buy Call 1b05 given at Price 205.65 Achieved 1dt 206.80. CMP 206.80. Total profit of 1.15 Points per lotTIPS ID 1b05 : Zinc Tips - BUY Zinc at CMP 205.65 for Target 206.80 - 207.80 - 209 with SL 204.0 Read More