An overview of the minor metals markets and the reasons for any price moves.Read More
Iranian exporters of steel billet and slab continued to cut prices in the week ended Wednesday October 17 in their attempts to win deals in the current unfavorable market conditions.One of the major factors in this was the regime of economic sanctions imposed by the United States on the Middle Eastern nation in early August.The United Arab Emirates was formerly a significant buyer of Iran-origin b...Read More
Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening, but zinc continued to outperform. Three-month lead, aluminium and tin prices all started the day in positive territory but weakened this afternoon, while nickel was down 1.2% due to a lack of directional news for the near term. Aluminium prices dip...Read More
The latest news and price moves to start the Asian day on Thursday October 18.Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening although zinc continued to outperform. Read more in our live futures report.Here are how prices looked at the close of trading:Concerns are mounting over the potential hal...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 17.Base metals prices on the London Metal Exchange were mostly higher during morning trading, with aluminium shrugging off another huge delivery into LME-listed warehouses.Over 92,000 tonnes of aluminium was delivered into warehouses in Asia this morning - with the majority arriving in Port Klang.&nb...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday October 17.Base metals prices on the Shanghai Futures Exchange were broadly up during Asian morning trading on Wednesday after sentiment improved following strong gains in global equity markets.Check Metal Bulletin's live futures report here.Weakness was felt in aluminium premiums ar...Read More
Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday October 5.Raw materials The Singapore Exchange (SGX) will launch a high-grade iron ore derivative product to be settled against the daily MB 65% Fe iron ore index published by Fastmarkets. Subsequently, market participants hailed the decision, saying it will serve the burgeoning need for bette...Read More
Fastmarkets MB rounds up some of the key news and price moves across the global metal markets this week.Base metals In breaking news this afternoon, the US Treasury Department has further extended the expiration date of general licenses relating to UC Rusal until December 12.Codelco's Chuquicamata division will be running at reduced operating rates until mid-November following a technical fault at...Read More
Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening, but zinc continued to outperform. Three-month lead, aluminium and tin prices all started the day in positive territory but weakened this afternoon, while nickel was down 1.2% due to a lack of directional news for the near term. Aluminium prices dip...Read More
Comex copper prices were slightly higher in morning trading on Wednesday October 17 with a rising dollar preventing any significant gain.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 0.60 cents to $2.7855 per lb. "We are seeing very quiet conditions in metals so far this week; yesterday ended in a mixed...Read More
Seaborne iron ore prices went up on Wednesday October 17 amid bullish sentiment and a surge in the paper markets.MB 62% Fe Iron Ore Index: $73.36 per tonne cfr Qingdao, up by $1.86 per tonne.MB 62% Fe Pilbara Blend Fines Index: $72.39 per tonne cfr Qingdao, up by $1.86 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.75 per tonne cfr Qingdao, up by $2.05 per tonne.MB 58% Fe Premium Index: $61.4...Read More
Fastmarkets MB's nickel premiums were stable across all regions in the week to Tuesday October 16 in quiet trading conditions after the London Metal Exchange Week. Premiums in China were steady due to a closed import window and stock overhang. European premiums were unchanged following the annual gathering of the metals market in London for LME Week. Nickel premiums in the United Stat...Read More
The Turkish deep-sea scrap market remained silent again on Tuesday October 17, but a rise in the value of the Turkish lira and market rumors about changes to US import tariffs helped prices, according to market participants.The Turkish lira has continued to pick up this week, and was trading at TRY100 to $17.38 on October 17, up from TRY100 to $17.01 on October 15, according to Oanda.com.No deep-s...Read More
A United States senator has introduced bipartisan legislation in the country's senior legislative body, the Senate, that would allow more oversight of price reporting and price-setting entities that operate in the aluminium markets.The legislation was promoted by Cory Gardner, a Republican Party member from the state of Colorado. It builds on a bill introduced into the lower House of Representativ...Read More
Comex copper prices were slightly higher in morning trading on Wednesday October 17 with a rising dollar preventing any significant gain.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 0.60 cents to $2.7855 per lb. "We are seeing very quiet conditions in metals so far this week; yesterday ended in a mixed...Read More
Tin premiums were flat across the board in the week to Tuesday October 16, even with the threat of restricted supply from major tin producer Indonesia hanging over the market. European premiums steady at 19-month low US premiums move sideways in slow market China premiums flat amid weak smelter demand European premiums hold ground despite production threat The premium for 99.9% s...Read More
Alcoa intends to shut down its Spanish aluminium smelting operations at La Coru??a and Avil?(C)s, citing the plants as being the least productive within the Alcoa system due to structural issues. The two plants have a combined production of 180,000 tonnes per year - producing primary aluminium, billet and slabs. La Coru??a and Avil?(C)s also have a combined idle capacity of 53,000 tpy. "Structural...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 17.Base metals prices on the London Metal Exchange were mostly higher during morning trading, with aluminium shrugging off another huge delivery into LME-listed warehouses.Over 92,000 tonnes of aluminium was delivered into warehouses in Asia this morning - with the majority arriving in Port Klang.&nb...Read More
Several zinc and lead mining and smelting companies have been targeted for secondary sanctions by the United States Treasury over alleged ties to paramilitary organizations. Companies including Bandar Abbas Zinc Production Co, Calcimin, Iran Zinc Mines Development Co and Qeshm Zinc Smelting and Reduction Co - all producers of zinc concentrates and ingots - have been targeted. These organizations a...Read More
The latest news and price moves to start the Asian day on Thursday October 18.Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening although zinc continued to outperform. Read more in our live futures report.Here are how prices looked at the close of trading:Concerns are mounting over the potential hal...Read More