China's ferrous futures move up during morning trading on Friday September 14, with steel contracts logging bigger gains than those for steelmaking raw materials. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,092 yuan ($598) per tonne, up 36 yuan per tonneJanuary hot-rolled coil: 4,013 yuan per tonne, up 30 yuan per tonneDalian Commodity Exchange January iron...Read More
Brazilian slab prices dropped this week on absence of trading activity in the United States because of quota issues. Metal Bulletin's weekly assessment of Brazilian slab export prices was $500-530 per tonne fob on Friday September 14, from $520-540 per tonne fob a week before. With no sales being made to the US market, offers and bids involving Brazilian material were heard in Europe and Asia...Read More
Uncertainty about the fate of US sanctions against UC Rusal Plc have kept aluminium foundry alloy premiums up in the United States and Europe, with sellers able to wield control of 2019 supply contract negotiations thanks to buyers' dwindling inventories.US premium supported by supply woes The US foundry alloy premium remains at 14-15 cents per lb, with market participants confirming that supplier...Read More
Global scrap prices in the week ended Friday September 14 mostly rose or stayed where they were a week ago, while Turkey continued to buy scrap from suppliers in both Europe and the United States, without faltering on price.US exporters also continued to sell to Vietnam, although at lower prices, while data released on September 13 showed that Vietnam imported 21% more ferrous scrap in the first e...Read More
Spot cobalt prices made marginal gains on Friday September 14 after buyers encountered limited availability of material while restocking after the summer. Spot cobalt prices made marginal gains on Friday September 14 after buyers encountered limited availability of material while restocking after the summer. Low-grade cobalt prices were assessed at $33.35-34.10 per lb, in-warehouse, on September 1...Read More
The latest metal markets news and price moves to start the North American day on Friday September 14. Base metals prices on the London Metal Exchange edged lower during morning trading, consolidating lower amid continued trade disagreements between the United States and China, while fresh economic data indicates more stability in the Chinese economy. Falling back below $6,000 per tonne over t...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Friday September 14. Base metals prices on the Shanghai Futures Exchange were mixed again during Asian morning trading on Friday, with the complex coming under pressure from disappointing economic data from the United States and comments from US President Donald Trump that seemed to downplay a...Read More
London Metal Exchange base metals prices were mixed at the close of trading on Friday September 14, with a slight uptick in the dollar index weighing on one side, while stock drawdowns keep nickel, lead and tin prices firm. Falling back below $6,000 per tonne, three-month copper prices failed to hold gains made earlier in the week, falling from an intraday high of $6,037 per tonne to a daily low o...Read More
Iron ore prices were rangebound on Friday September 14 with buyers continuing to show interest in Pilbara Blend fines.Metal Bulletin 62% Fe Iron Ore Index: $67.68 per tonne cfr Qingdao, down by $0.58 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.71 per tonne cfr Qingdao, down by $0.58 per tonne.Metal Bulletin 62% Fe Iron Ore Index, Low Alumina: $74.18 per tonne cfr Qingdao, up by...Read More
Seaborne coking coal prices ended this week higher amid robust buying activity among traders and concerns over supply.Trades involving cargoes of premium low-vol hard coking coal were concluded at around $205 and $207 per tonne fob Australia on Friday September 14, market sources told Metal Bulletin.Another cargo of premium product had changed hands at $205 per tonne fob Australia a day earlier, s...Read More
Prices for coated steel coil products in Turkey were mostly stable in the week ended Friday September 14, with export buyers expecting discounts, Metal Bulletin heard.Demand in the local market was slightly better toward the end of the week, after the Turkish lira started to regain some of its lost value since the country's Central Bank increased the interest rate on September 13.The lira has lost...Read More
Domestic prices for secondary steel billet in India have fallen by at least 500 rupees ($7) per tonne this week, in line with a correction in the prices of finished steel products such as rebar, Metal Bulletin heard on Friday September 14.Secondary billet is mainly produced through the induction furnace method. Domestic prices for such material in India ended the week at 36,300-36,500 rupees ($505...Read More
London Metal Exchange base metals prices were mixed at the close of trading on Friday September 14, with a slight uptick in the dollar index weighing on one side, while stock drawdowns keep nickel, lead and tin prices firm. Falling back below $6,000 per tonne, three-month copper prices failed to hold gains made earlier in the week, falling from an intraday high of $6,037 per tonne to a daily low o...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Comex copper prices headed into the weekend on a sour note with the complex unable to maintain earlier gains because of a stronger dollar.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange dipped 2.10 cents or 0.8% to $2.6620 per lb."After a disappointing first half of 2018, we expect the global copper market to tighten in the months ahead, in part driv...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Friday September 14*Copper $20.58 (141.36 yuan) Aluminium -$405.81 (-2,786.72 yuan) Zinc $174.1 (1,195.54 yuan) Nickel $245.91 (1,688.67 yuan) *Metal Bulletin calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices at 3pm Sha...Read More
Norsk Hydro has ended its planned $345 million acquisition of three Rio Tinto aluminium assets in Europe including Icelandic smelter Isal, after considering "alternative timelines, outcomes and developments," it said on Friday September 14. Hydro especially blamed a longer-than-expected approval process by the European Commission (EC) for its decision to withdraw its offer to acquire Isal, Rio Tin...Read More
The latest metal markets news and price moves to start the North American day on Friday September 14. Base metals prices on the London Metal Exchange edged lower during morning trading, consolidating lower amid continued trade disagreements between the United States and China, while fresh economic data indicates more stability in the Chinese economy. Falling back below $6,000 per tonne over t...Read More
The London Metal Exchange may be unable to provide clearing services for all of its European Union-based members immediately after the United Kingdom leaves the EU, it said in a notice to members on Thursday September 13. The UK is set to leave the EU on March 29, 2019. After this date, LME Clear may only be able to continue providing clearing services to members in countries where it is recognize...Read More
Hot-rolled coil prices in the United States have retreated to a six-month low, with buyers sitting on the sidelines in fear of further declines while some mills warn that prices might already be at or near bottom.American Metal Market's hot-rolled coil index moved to $41.54 per hundredweight ($830.80 per short ton) on Thursday September 13, down by 1.7% from $42.27 per cwt previously and off 9.4%...Read More