Comex copper prices maintained Friday's surge during morning trading on September 24 in the US, with a softer dollar supporting the red metal amid ongoing concerns of a long-term trade war between the US and China....Read More
An investigation committee deciding the fate of the 400,000 tonne per year Tuticorin copper smelter said the majority of representatives supported its closure, according to local media reports on Sunday September 23. ...Read More
ICBC Standard Bank has appointed Adam Brake and Evan Richards to the base metals team to develop the base metals trading arm of the bank, ICBC said in a release on Monday September 24. ...Read More
The latest metal markets news and price moves to start the North American day on Monday September 24. ...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday September 24, capped by the US administration's imposition of further tariffs on $200 billion worth of Chinese goods. Base metals prices consolidated lower following broad gains last week. Nickel prices dropped 1% this morning but continue to trade above $13,000 per tonne. Elsewhere, the t...Read More
[Updating with additional detail on Kyen Resources expansion, Shenzhen Feima difficulties, context of Chinese ownership of physical metals traders, and clarifying that Viant Commodities is 40% owned, not fully owned by CNFPC]Kyen Resources founder and managing director Victor Kuo has left the Singapore-based trading house, sources with knowledge of the matter told Metal Bulletin.Kuo, who set up Ky...Read More
Traders are expecting prices for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow to reduce in October on a weak export market, rouble revaluation and reducing demand. ...Read More
CIS export wire rod and rebar prices decreased in the week ended Monday September 24, on the downtrend in the Turkish market that is being driven by modest demand in both the export and domestic markets....Read More
Import prices for steel slab in Southeast Asia and East Asia were unchanged over the past week amid a lack of negotiations and deals.Metal Bulletin's price assessment for slab imports in Southeast Asia and East Asia was $520-535 per tonne cfr for the week ending Monday September 24, unchanged for the second consecutive week.Only one deal, for...Read More
Vietnamese HRC import prices fell this week after Russia's Magnitogorsk Iron & Steel Works (MMK) lowered its offer prices for re-rolling-grade hot-rolled coil.Metal Bulletin's weekly price assessment for HRC imports in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $570-580 per tonne for the week ending Monday September 24, down from...Read More
Singapore rebar import prices dropped over the past week after traders started offering Ukrainian rebar at prices below Turkish and Qatari offers.Ukrainian rebar offer prices were at $530 per tonne cfr Singapore on Monday September 24, while Turkish and Qatari rebar was on offer at $540 per tonne cfr Singapore.Market sources said negotiation levels were at $530 per tonne cfr Singapore, tracking th...Read More
Manganese ore prices have been boosted by expectations of increased demand for alloy after the Chinese government issued new standards for steel products to take effect in November....Read More
The majority of European ferro-chrome market participants expect the ferro-chrome benchmark price to drop for the fourth quarter, with predictions for the settlement coming in at $1.23 per lb on average. Such a reduction would represent a fall of $0.15 per lb or 9.2% for the fourth quarter compared with the third quarter price of $1.38, which was in itself a 2.8% or 4 cent reduction from the secon...Read More
Three-month base metals prices on the London Metal Exchange were initially unchanged to weaker on the morning of Monday September 24, with prices down by an average of 0.5%. Trading had been quiet with Chinese and Japanese markets closed for holidays, but prices firmed after European trading picked up. Nickel led the decline with a 1.4% drop, followed by lead and zinc – which were off either...Read More
Activity in the ammonium paratungstate (APT) market picked up slightly last week ahead of the International Tungsten Industry Association (ITIA) conference that takes this week in Chengdu, China. Fob China APT prices recoverPrices for tungsten concentrate rebound Prices for European APT unchanged; ferro-tungsten prices edge down Metal Bulletin's latest price assessment for fob China min 88.5% WO3...Read More
Share this articleBulk sampling at the Dumont nickel-cobalt project near Amos, Quebec. Source: RNC Minerals.RNC Minerals [RNX-TSX], aka Royal Nickel Corp., shares rose sharply again Monday September 24 after the company said a new exploration drive on 14 Level at its Beta Hunt Mine in Australia has recovered more visible coarse gold.The find provides further proof of concept that the structures co...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. WTI crude oil gained $1.30 per barrel to $72.08 after members of OPEC agreed not to increase production.Barrick Gold (ABX $10.27 U.S.) has agreed to buy Randgold (GOLD $63.91) in a share exchange valued at $6 billion. Each share of Randgold is to be exchanged into 6.128 shares of Barrick...Read More
Iron ore prices were flat on Monday September 24 due to a public holiday in China.Metal Bulletin 62% Fe Iron Ore Index: $69.13 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.16 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $75.07 per tonne cfr Qingdao, unchanged.Metal Bulletin 58% Fe Premium Index: $56.14 per tonne cfr Qin...Read More
Trading activity in the seaborne coking coal spot market was muted on Monday September 24 with China away from the market for the Mid-Autumn Festival. "A miner is in Japan to kick off benchmark negotiations for the October-December quarter. Japan is on holiday today but they are determined to conclude before the October quarter starts," a Brisbane-based trader said.Meanwhile, US miner Peabody will...Read More
Three-month base metals prices on the London Metal Exchange were initially unchanged to weaker on the morning of Monday September 24, with prices down by an average of 0.5%. Trading had been quiet with Chinese and Japanese markets closed for holidays, but prices firmed after European trading picked up.Nickel led the decline with a 1.4% drop, followed by lead and zinc - which were off either side o...Read More