The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday September 21:The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday September 21:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.80-12.00 per lb from $12.00-12.10 Molybdenum US canned molybdic oxide, $/Ib $12.10-12.25 per Ib from $12.20-12.30 Ferro-molybdenum...Read More
Ganfeng Lithium has signed a supplementary contract with LG Chem to extend its offtake agreement for a further three years to the end of 2025, it said on Thursday September 20. This agreement will provide the battery maker with another 45,000 tonnes of battery-grade lithium carbonate and lithium hydroxide. LG Chem initially agreed an offtake deal with Ganfeng Lithium on August 14, with the latter...Read More
Early negotiations of long-term contracts show that consumers of ferro-vanadium are trying to lock in deals slightly ahead of the usual price-mating season, in an effort to secure units in a tight market.AMG Vanadium, a subsidiary of AMG Advanced Metalurgical Group, finalized a two-year contract for ferro-vanadium with a large steel mill in the United States this week, the company has said. It was...Read More
Austenitic alloy steel scrap prices were largely stable this week in Europe and the UK, with nickel prices having more or less flattened out after losses in late August and early September.The price of 18/8 stainless steel solids in the UK was assessed unchanged at ?880-930 ($1,163-1,229) per tonne delivered at merchant. The price of similar product in Europe was assessed at ?,?1,060-1,100 ($1,24...Read More
Prices for light iron scrap in the United Kingdom have been stable over the past week, with small but steady increases in export prices to key export destinations such as Turkey and the Indian subcontinent supporting the domestic market, sources told Metal Bulletin. Steady trading activity in the UK light iron market is cementing inter-merchant prices in their current range for the second con...Read More
Prices for ferrous scrap imported into India inches up by less than $1 per tonne this week, with currency issues keeping the market subdued, sources told Metal Bulletin on Friday September 21.Metal Bulletin's weekly index for containerized imports of shredded scrap into India moved up to $357.49 per tonne cfr Nhava Sheva on September 21, up from $356.52 cfr Nhava Sheva on September 14.Offers and s...Read More
The Turkish steel producers have resumed their purchases from the deep-sea scrap market with slightly higher prices, sources told Metal Bulletin on Friday September 21.Three steel producers booked five deep-sea cargoes from various locations, totaling around 135,000 tonnes late on September 20.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising 10,000 tonnes of bonus at...Read More
Seaborne iron ore trading cooled further on Friday September 21, ahead of the Mid-Autumn Festival in China on Monday.Metal Bulletin 62% Fe Iron Ore Index: $69.13 per tonne cfr Qingdao, down by $0.05 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.16 per tonne cfr Qingdao, down by $0.05 per tonne.Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $75.07 per tonne cfr Qingdao, down by...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday September 21*Copper $3.69 (25.31 yuan)Aluminium -$395.73 (-2711.80 yuan) Zinc $86.15 (590.35 yuan) Nickel $178.05 (1220.11 yuan) *Metal Bulletin calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices...Read More
Base metals prices on the London Metal Exchange were trading higher across the board on Friday September 21, with copper leading the way. The three-month copper price hit a one-month high of $6,244 per tonne this morning, rallying over 2% from Thursday's close."Exactly what triggered the move is not clear to me but the result is certainly clear enough as all ships rise on the bullish tide with cop...Read More
China's domestic rebar prices continued moving lower on Friday September 21 following a decline in billet prices.Domestic Eastern China (Shanghai): 4,530-4,580 yuan ($661-668) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 4,330-4,380 yuan per tonne, down 20-50 yuan per tonneBillet prices dropped late on Thursday amid soft demand, and the rebar futures were weak in Friday morni...Read More
Base metals stocks at Shanghai Futures Exchange-listed warehouses were broadly down on Friday September 21 compared with a week earlier, with copper stocks declining almost 18%. Deliverable copper stocks at SHFE sheds fell by 23,537 tonnes or 17.5% to 111,029 tonnes in the week ended Friday. This week, SIPG Logistics saw the most stock leaving its warehouses - 13,213 tonnes of the red metal was de...Read More
Three-month base metals prices on the London Metal Exchange were once again higher across the board by an average of 0.5% on the morning of Friday September 21. This follows Thursday's generally bullish performance that saw the base metals complex close with gains averaging 0.7%.Nickel and copper led on the upside this morning with gains of 1.3% and 0.9% respectively, with the red metal recently q...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday September 21:The following Metal Bulletin minor metals prices changed on Friday September 21:Minor metals Bismuth MB China domestic, yuan/tonne: 55,000-56,000 yuan per tonne from 56,000-57,000 yuan Chromium MB free market alumino-thermic, $/tonne: $11,350-12,000...Read More
Metal Bulletin has today discontinued its price assessment for selenium dioxide in China's domestic market.Following a one-month consultation period, Metal Bulletin suspended on Friday September 21 the assessment of its selenium dioxide, min 98% Chinese domestic in-warehouse price, specified as below. Description: Selenium dioxide MB China domestic min 98% Price: Yuan per kg, in-warehouse Chi...Read More
Dennis Oates, chief executive officer of US speciality steelmaker Universal Stainless & Alloy Products (USAP), was awarded the 2018 Stainless Steel Executive of the Year award at Metal Bulletin and SMR's Stainless & Special Steel Conference in Helsinki, Finland, on Thursday September 20.Oates has worked in the stainless and special steel industry for almost 45 years, since beginning his career in...Read More
Swiss steelmakers have called for an exemption for Swiss-origin steel imports into the European Union from the EU's preliminary safeguard measures, citing the "interconnectedness of the steel and steel processing industries of Switzerland and the EU".To block materials redirected from the US after its imposition of Section 232 import tariffs on steel, the European Commission imposed preliminary sa...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday September 21:Aluminium scrap Floated Frag: ?,?1,050-1,100 per tonne from ?,?1,120-1,160 Cast:...Read More
You might not know it by just looking at the net change of gold futures today, but it is dollar weakness that is keeping the current selloff in gold curtailed. Currently, the most active Comex contract (December) is trading up $3.60 on the day and fixed at $1211.90. This modest rise is occurring in tandem with strong selling pressure on the U.S. dollar which has taken the index almost 3/4 of a...Read More