UK ferrous scrap prices for deliveries in September have fallen after a run of losses on a spot basis in the past few weeks, trade sources told Metal Bulletin on Thursday September 13.But a bounce in European export prices to destinations such as Turkey and the Indian subcontinent have reduced the expected losses, they added.Major steelmakers such as Celsa and Liberty have generally cut ?10 ($13)...Read More
The export market for pig iron from the Commonwealth of Independent States has weakened on falling scrap prices in the major outlet regions.No deals were heard during the week ended Thursday September 13, with market insiders awaiting developments at the International Iron Metallics Association (IIMA) meeting in Stockholm on September 17-19.Metal Bulletin's export price assessment for high-mangane...Read More
Base metal prices on the London Metal Exchange held steady at the close of trading on Thursday September 13, with the complex maintaining its midweek price gains amid a continued downturn in the US dollar index.The three-month copper price closed above $6,000 per tonne for the first time since August 30. It has gathered momentum since falling to its lowest point for more than a year on August 15,...Read More
Trade war-related currency fluctuations have led to an unexpected spike in Asia copper premiums after a fall in the yuan opened import arbitrage opportunities in the region. Premiums for Grade A cathodes basis cif Shanghai have leapt in the past week to their highest levels since February 2016, with material trading at up to $100 per tonne over LME cash prices. The daily premium reached $83-1...Read More
The latest metal markets news and price moves to start the North American day on Thursday September 13.Base metals prices on the London Metal Exchange were mostly higher during morning trading on Thursday, with a continued retreat in the dollar facilitating upticks while continued stock outflows push prices higher.Three-month copper prices continued to ride on the momentum from Wednesday, when pri...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Thursday September 13.Most base metals prices on the Shanghai Futures Exchange staged a quick recovery during Asian morning trading on Thursday, following a collapse on Wednesday, after the United States signaled the resumption of trade talks with China and the dollar weakened.Check Metal Bulletin's...Read More
Triland Metals has appointed Vaseem Karbhari as its head of ferrous sales and marketing, the company said on Thursday September 13.Karbhari, who will join Triland Metals' London office in mid-September, previously worked in risk management across the base and ferrous metals markets."With many...Read More
Base metal prices on the London Metal Exchange held steady at the close of trading on Thursday September 13, with the complex maintaining its midweek price gains amid a continued downturn in the US dollar index.The three-month copper price closed above $6,000 per tonne for the first time since August 30. It has gathered momentum since falling to its lowest point for more than a year on August 15,...Read More
Trading activity in the physical iron ore market picked up on Thursday September 13 following gains in the paper markets.Metal Bulletin 62% Fe Iron Ore Index: $68.26 per tonne cfr Qingdao, up by $0.40 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $67.29 per tonne cfr Qingdao, up by $0.40 per tonne.Metal Bulletin 62% Fe Iron Ore Index - Low Alumina: $74.10 per tonne cfr Qingdao, down b...Read More
Metal Bulletin, a leading source of trusted and transparent commodities data for the metals and mining markets, has successfully completed an external assurance review of some of its benchmark prices carried out by independent professional services company PricewaterhouseCoopers (PwC).PwC reviewed benchmark assessment and index prices published by Metal Bulletin that fell within the scope of finan...Read More
Turkish domestic long steel prices have gone down over the past seven days with the exchange rate value of the country's lira strengthening against the US dollar, sources said on Thursday September 13.Metal Bulletin's weekly price assessment on Thursday for domestic rebar was TRY3,800-3,950 ($596-619) per tonne ex-works, including 18% VAT. This was down from last week's TRY3,950-4,070 per tonne.Th...Read More
A global dialogue intended to resolve the issue of overcapacity in China's aluminium production would be better for creating a fair global market than the imposition of tariffs, a panel of industry experts has said.Speaking at Metal Bulletin's 33rd International Aluminium conference in Berlin this week, panelists noted that the Section 232 tariffs - imposed in June by the United States on aluminiu...Read More
Comex copper prices surged to the highest point in two weeks on Thursday September 13 on growing optimism that trade talks between the United States and China is moving toward a deal.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange gained 3.65 cents or 1.4% to $2.7125 per lb. Earlier this morning, the contract hit $2.7160, the highest since August 30....Read More
Aluminium prices have a bullish base to climb steadily higher throughout 2019, no matter what happens with the US sanctions on Rusal, market analysts said at Metal Bulletin's 33rd International Aluminium conference in Berlin. "We are moderately bullish on aluminium for 2019. It has a strong base case to gradually climb up throughout the year," Robin Bhar, head of metals research at Soci?(C)t?(C) G...Read More
South Korea's Public Procurement Service (PPS) has issued a tender to procure 1,000 tonnes of Grade A copper cathode, it said in a notice on the state agency's website on Wednesday September 12.PPS's most recent copper tender was awarded on August 30 for 1,000 tonnes of copper at a premium of $75 per tonne cif Incheon port.Metal...Read More
The latest metal markets news and price moves to start the North American day on Thursday September 13.Base metals prices on the London Metal Exchange were mostly higher during morning trading on Thursday, with a continued retreat in the dollar facilitating upticks while continued stock outflows push prices higher.Three-month copper prices continued to ride on the momentum from Wednesday, when pri...Read More
China's auto sales declined for a second month in August on weak consumer demand for hot- and cold-rolled coil compared with past years, and most steel market participants expected this scenario to continue. The country sold 2.10 million units of vehicles in August, down 3.8% from a year ago, despite an 11.3% monthly rebound, the China Association of Automobile Manufacturers (CAAM) said on Tuesday...Read More
Billet prices in Turkey were slightly higher this week, with increasing scrap values and firm demand for Turkish billet in export markets, sources said on Thursday September 13.Turkish producers raised their offers to $490-500 per tonne fob levels from last week's $485-495 per tonne fob."Turkish mills sold around 300,000 tonnes of billet in the past two months, and this has supported the prices. M...Read More
Turkish rebar and wire rod export prices have recovered slightly in line with the uptick in imported scrap values, sources said on Thursday September 13.The country's steel producers were mostly offering rebar for export at around $520-530 per tonne fob on an actual weight basis.But demand for Turkish material was still sluggish and bids from customers were around $510-515 per tonne fob, actual we...Read More
Steel billet import prices in Egypt narrowed in the week ended Thursday September 13, with the market remaining silent, while domestic rebar prices were stable. Metal Bulletin's weekly price assessment for steel billet imported into Egypt was $495-500 per tonne cfr on Thursday, narrowing from $495-503 per tonne cfr when it was last assessed on September 6.CIS-origin billet was offered...Read More