Deliverable zinc stocks at Shanghai Futures Exchange-approved warehouses soared by more than 12% over the past week, increasing by 4,232 tonnes and taking total inventory count to 34,168 tonnes, while only 5% of stocks remain available on-warrant. Out of the 22 SHFE-approved storage facilities, warehouse company Nanchu in Guangdong province gained 4,918 tonnes week on week, taking total deliverabl...Read More
Base prices for both flat and long stainless steel products in Europe were unchanged in the week ended Friday September 7, but mills and distributors were offering material from stock at large discounts ahead of an expected fall in the alloy surcharge for October deliveries.Metal Bulletin's weekly domestic base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern...Read More
Comex copper prices rose the third consecutive day, with strong US data offsetting a rising dollar.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange rose 1.25 cents, or 0.5%, to $2.6490 per lb.Earlier this morning, the US August jobs report showed 201,000 Americans joined the labor market, keeping the...Read More
Prices for austenitic alloy steel scrap in the UK and Europe fell sharply this week on heavy losses in the nickel market, market participants told Metal Bulletin on Friday September 7.Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,070-1,100 ($1,244-1,279) per tonne cif main European ports on Friday September 7, down by ?,?50 per...Read More
Prices of South Korean origin hot-rolled-coil exports to India have fallen by about $30 per tonne, as a consortium of importers this week booked 20,000 tonnes of HRC at $620-625 per tonne cfr Mumbai for shipment in October. South Korean origin HRC was offered about a month ago for export to India at $650-655 per tonne cfr Mumbai, which was later withdrawn as importers rejected the offer. The HRC s...Read More
Hot-rolled coil prices in the United States have fallen for a sixth week in a row amid shorter mill lead times, with some buyers remaining on the sidelines in fear of further declines, market participants said.American Metal Market's hot-rolled coil index moved to $42.27 per hundredweight ($845.40 per ton) on Thursday September 6, down about 1% from $42.68 per cwt previously and 7.8% below th...Read More
ArcelorMittal has reached a provisional labor agreement with Italian trade unions regarding the acquisition of the country's flat steel producer Ilva."There is now a clear path toward closing the transaction and starting the important work of rehabilitating Ilva," Aditya Mittal, president, chief financial officer and chief executive officer of ArcelorMittal Group, said on Thursday September 6. "We...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Friday September 7, which follows another mixed performance by the complex on Thursday. Nickel continued to lead on the downside with a 1.6% drop, while aluminium also bucked the down trend with a 0.3% gain. The rest were down between 0.1% for lead and 0.7% for zinc, with copper prices down by 0...Read More
Sentiment in Turkey's flat steel market has remained negative and some flat steel prices have come down, sources told Metal Bulletin on Friday September 7.Buyers were cautious about booking material because of the weakness of Turkey's lira and the expectation that prices will fall further.The lira has lost a significant amount of value since early August, when tension between Turkey and the United...Read More
Prices for coated steel coil products in Turkey were mostly stable in the week ended Friday September 7, with demand improving in export markets. By contrast, demand in the domestic market was weak as a result of the falling Turkish lira and expectations that coated coil prices will fall. The lira was trading at TRY100 to $15.1474 on September 7. It had been trad...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGIHot-rolled coilTurkey, domestic, hot-rolled coil, offered at $600 per tonne ex-works, October production. Turkey, domestic, hot-rolled coil, traded at $...Read More
The latest metal markets news and price moves to start the North American day on Friday September 7.The prices of base metals on the London Metal Exchange were mixed in morning trading on Friday, with slight upticks in aluminium, lead and tin prices being at odds with a fresh 2018 low in three-month nickel prices.Over the course of the week, nickel's three-month price has lost just under 5%, under...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday September 9:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.15-12.30 per lb from $12.00-12.20 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.30-29.50 per kg from $29.10-29.30 Ferro-molybdenum US 65-70% Mo, $/Ib: $13.00-13.40 per Ib from $13.00-13.50 Ferro-vanadium basis 7...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade.U.S. equity indices moved lower following release of the August Employment Report at 8:30 AM EDT. Consensus for August Non-Farm Payrolls was an increase to 187,000 from 157,000 in July. Actual was 201,000. Consensus for August Unemployment Rate was a drop to 3.8% from 3.9% in July. Actua...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob ChinaEurope- APT, cif Rotterdam- Ferro-tungsten, in-warehouse Rotterdam...Read More
Battery-grade lithium carbonate prices continued to slip in China this week, with no respite in the availability of cheap, locally produced units. China lithium carbonate price edged down amid ample supply and limited spot demand Optimistic producers outside China eye slowing production over winter months Lithium hydroxide prices stabilized, but still vulnerable to downsides Metal Bulletin's ...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Friday September 7.Base metals prices on the Shanghai Futures Exchange were split into two camps during Asian morning trading on Friday, with copper, zinc and lead edging higher, while the rest were little changed to weaker.The mixed performance by the base metals comes amid heightened risk-of...Read More
Trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Metal Bulletin. Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back. Metal Bulletin prices Click here for Metal Bulletin's price assessment for lithium carbonate min 99.5% Li2CO3 battery grade, spot price range, ex-works China, yuan per ton...Read More
The pig iron import market in the United States declined further due to a sharp drop in ferrous scrap prices, with a low booking price for material originating from Brazil reported.Metal Bulletin's assessment for US imports of pig iron decreased to $390-395 per tonne cfr on Friday September 7 from at $395-398 per tonne cfr a week earlier. A $20-30-per-tonne drop in US prime scrap pr...Read More
A pig iron supplier from southern Brazil sold a cargo to the United States at a lower price due to the weakened domestic market. The deal, for 30,000 tonnes of pig iron, was understood to be done at $360 per tonne fob with end-October shipment to the US. Thus, Metal Bulletin's weekly price assessment for pig iron exports from the southeastern Minas Gerais region...Read More