Base metals prices on the London Metal Exchange closed without a clear pattern on Wednesday September 19, although zinc was again the strongest performer. The three-month zinc price closed nearly 2% higher, having earlier peaked at $2,437 per tonne.Tight supply and high zinc premiums are propelling it higher while warrants are tightly held - one entity accounts for 50-79% of all warrant positions....Read More
European nickel premiums moved up in the week ended Tuesday September 18 with participants reporting tight supply in the uncut and cut nickel cathode markets; premiums in China were stable ahead of autumn holidays in Asia. European nickel premiums move up on lack of availability Premiums in China stable in liquid market US premiums unchanged despite uptick in activity Nickel premiums...Read More
The tin premium in Europe fell to one-and-a-half-year lows on Tuesday September 18 due to significant exports from Indonesia and other producing countries over the summer, while premiums in the United States and China were stable. Rotterdam 99.9% premium approaching multi-year low on oversupply US, China premiums flat while eyes turn to start of 2019 supply negotiations European tin premium...Read More
Daniel Mu??iz Quintanilla has left Grupo M?(C)xico SAB de CV after 12 years with the company in various management roles, most recently as group director and secretary as well as executive vice president of its Americas mining division. Quintanilla said he plans to pursue new professional challenges, without specifying further. He was previously the group's...Read More
Metal Bulletin proposes changes to the specification of its high carbon ferro-chrome prices for Japan and South Korea to bring the Cr content in the description in accordance with the name of the prices. At present, the chemical specifications of the two prices state all data points will be considered for material with a minimum Cr content of 60%. Metal Bulletin proposes amending the specification...Read More
Alumina prices fob Australia fell nearly 6% on Wednesday September 19 to below $600 per tonne, following the conclusion of a recent tender below the market. Metal Bulletin's benchmark daily fob Australia alumina index fell to $596.94 per tonne from $635 per tonne the previous day. Key drivers The alumina market responded to a recent transaction for Nalco material, which traded at $585.3...Read More
Tharisa has restructured its acquisition of Salene Chrome Zimbabwe, under which it has been granted a call option to acquire a 90% stake at a par value of $90, subject to a $3.2 million exploration spend. The South African chrome and platinum group metals miner announced in May that it had acquired 90% of Salene, for an undisclosed sum, from the Leto Settlement Trust, which has family links to Tha...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The Turkish deep-sea scrap import market was quiet on Wednesday September 19, while steel mills were waiting for the market to stabilize after the latest uptick in prices.There were rumors of sales in the market today at prices higher than before, but no transactions were confirmed.A steel mill in the Iskenderun region was said to be booking a Baltic Sea cargo comprising 10,000-12,000 tonnes of bo...Read More
Daniel Mu??iz Quintanilla has left Grupo M?(C)xico SAB de CV after 12 years with the company in various management roles, most recently as group director and secretary as well as executive vice president of its Americas mining division. Quintanilla said he plans to pursue new professional challenges, without specifying further. He was previously the group's...Read More
Comex copper traded at the highest point since late August on Wednesday September 19 with worries over a Chinese and US trade war offset by optimistic demand prospects. Copper prices for December settlement on the Comex division of the New York Mercantile Exchange gained 0.25 cents or 0.1% to $2.7330 per lb. Earlier today, the contract touched a high $2.7535, the highest since August 28. News that...Read More
Domestic prices for cold-rolled coil (CRC) in the EU declined this week due to competition with imports, sources told Metal Bulletin on Wednesday September 19.Last week import offers of CRC to the EU fell."Domestic mills are under pressure from import offers. And the quota for import is not filled yet therefore the buyers will look for more imported coil," a trader said.The European Commission int...Read More
Domestic prices for hot-rolled coil (HRC) in Europe have moved down over the past week, although previously market participants expected prices to remain stable, sources told Metal Bulletin on Wednesday September 19.The decrease, which showed the biggest decline in the south of Europe, was driven by a combination of limited buying activity and competition with import offers from Turkey, according...Read More
China's hot-rolled coil prices were little changed on Wednesday September 19 amid weak demand both domestically and globally, sources told Metal Bulletin.DomesticEastern China (Shanghai): 4,310-4,320 yuan ($628-629) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 4,230-4,250 yuan per tonne, unchangedTrading nationwide was relatively thinner today compared with the previous two days, a S...Read More
Crude steel production in Argentina grew by 9.1% year on year in August, according to figures released by national steel association Acero Argentino on Wednesday September 19.Production totaled 455,300 tonnes last month compared with 417,400 tonnes in August 2017, although the total was down by 1.8% on a sequential basis from 463,800 tonnes. Production of long steel products in...Read More
European mesh-quality wire rod prices were stable in both the north and south of the region over the past week, with few buyers or sellers coming to market.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Southern Europe [LINK1] stayed at ?,?540-560 ($631-654) per tonne delivered on Wednesday September 19, while the price for material in Northern Europe [LINK2] remain...Read More
US West Coast bulk ferrous scrap export prices have picked up on two bulk sales while the East Coast market remains quiet with US exporters focusing on securing supply that has been decimated by multiple price reductions and bad weather conditions.Two cargoes were traded off the West Coast in the past seven days, according to sources. The first cargo contained 21,000 tonnes of an 80:20 mix of No 1...Read More
The Turkish deep-sea scrap import market was quiet on Wednesday September 19, while steel mills were waiting for the market to stabilize after the latest uptick in prices.There were rumors of sales in the market today at prices higher than before, but no transactions were confirmed.A steel mill in the Iskenderun region was said to be booking a Baltic Sea cargo comprising 10,000-12,000 tonnes of bo...Read More
Seaborne iron ore trading almost came to a halt on Wednesday September 19 with participants heading to a key industry conference in China, while a plan for steelmaking restrictions in Tangshan was finalized.Metal Bulletin 62% Fe Iron Ore Index: $69.46 per tonne cfr Qingdao, down by $0.36 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.49 per tonne cfr Qingdao, down by $0.36 per tonn...Read More
China's domestic rebar prices moved up on Wednesday September 19, while sellers cut procurement rates at higher prices.Domestic Eastern China (Shanghai): 4,580-4,620 yuan ($667-673) per tonne, up 30 yuan per tonneNorthern China (Beijing): 4,410-4,430 yuan per tonne, narrowed upward 10 yuan per tonneTraders raised prices in the morning on Tuesday's high sales volumes and early-hour futures gains on...Read More