The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBillet CIS,...Read More
Key data from the Wednesday September 12 pricing session in Europe.Key drivers- Tight supplies in the European ferro-vanadium market sparked strength this week, with the upper end of the market surpassing $90 per kg.- Few consumers and traders were holding notable stocks so continued to show interest in the spot market amid rapidly rising prices.- More than 70 tonnes of ferro-vanadium were...Read More
South African manganese miner Tshipi will distribute a dividend to the tune of 2 billion South African rand ($132.6 million) to investors for the financial half-year ended August 31, 2018, its owner Jupiter Mines has announced.Jupiter said it will receive a 1.06 billion rand dividend payment for the half-year and an additional 115 million rand dividend, which is a correction of previous payment, l...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
Following a strong close in the previous session, the three-month base metals prices on the London Metal Exchange were mostly consolidating their recent gains during early trading on Thursday September 13. Copper and lead were largely unchanged, while the rest of the complex has consolidated lower; aluminium (-0.5%) led the decline, closely followed by zinc (-0.4%), while nickel and tin were both...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 210,000 from 205,000 last week. Actual was a slip to 204,000 .Consensus for August Consumer Prices was an increase of 0.2% versus a gain of 0.2...Read More
Turkish steel producers paused their deep-sea scrap purchases on Thursday September 13 to see where the exchange rate value of the country's lira will settle, following a decision by its central bank to raise interest rates.Steel mills in Turkey have booked five deep-sea cargoes so far this week, totaling more than 140,000 tonnes.Market participants said that the mills would continue to book deep-...Read More
China's metallurgical coke market appears to have reached a peaked in the past fortnight and has now started to weaken, while no export activity has been seen, market participants told Metal Bulletin on Thursday September 13.Steelmakers in the country last week accepted a sixth round of rises in the price of coke since August, which have now totaled 640 yuan ($93) per tonne.East China's Rizhao Iro...Read More
Vietnam imported 3.48 million tonnes of ferrous scrap in the first eight months of 2018, a 21% year-on-year increase from 2.88 million tonnes in January-August 2017.The figures were announced by the General Department of Vietnam Customs on Tuesday September 11.Vietnam is one of the key steelmaking countries in Southeast Asia. It imported 484,660 tonnes of ferrous scrap in August, roughly similar t...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
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at $74.10 per tonne cfr China, laycan October 18-27.Vale, Global Ore, 170,000...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday September 13*Copper -$14.22 (-97.64 yuan) Aluminium -$417.56 (-2,866.56 yuan) Zinc $150.54 (1,033.45 yuan) Nickel $327.89 (2,250.97 yuan) *Metal Bulletin calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
The London Metal Exchange has decided to continue discounting short-dated and medium-dated carry fees indefinitely, it said in a notice to members on Wednesday September 12. The LME has cut fees twice since 2016, after acknowledging that high trading and clearing costs have contributed to its declining volumes.Designed to encourage the use of date structures and monthly rolls, the fee reduction re...Read More
The seaborne coking coal market was stable on Thursday September 13, with buyers and sellers wondering when - and at what level - prices would peak."There is talk about the Chinese government going easy on steel production cuts in the winter and that may be supportive of prices for steelmaking raw materials as long as mills' margins are maintained," a north Asian buyer source said.Word had spread...Read More
Following a strong close in the previous session, the three-month base metals prices on the London Metal Exchange were mostly consolidating their recent gains during early trading on Thursday September 13.Copper and lead were largely unchanged, while the rest of the complex has consolidated lower; aluminium (-0.5%) led the decline, closely followed by zinc (-0.4%), while nickel and tin were both d...Read More
Import prices for stainless steel in East Asia weakened further over the past week amid low buying interest and a continued slump in the nickel market, although tight supply in China provided some support.Metal Bulletin's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,140-2,195 per tonne cif East Asian ports for the week ended Wednesday September 12, wi...Read More
China's domestic stainless steel prices moved up over the past week after sellers attempted to push through increases despite weak demand.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,500-15,800 yuan ($2,257-2,300) per tonne including VAT for the week ended Wednesday September 12, up 100 yuan per tonne from a...Read More
Key data from the Wednesday September 12 pricing session in Shanghai.Key drivers- Cheaper material from Russia and the Middle East pushed Chinese exporters to lower their offers.- Japanese buyers lowered their bids in response to news that recently enforced import regulations in China had not led to increased costs for Chinese ADC 12 exporters.- Limited...Read More
Last week it was all about the potential that President Trump would implement more tariffs on Chinese imports which moved the dollar higher and continued to put pressure on gold prices. Today it is all about talks which have the potential to resolve the current trade dispute between the United States and China. Reports surfaced today that the United States has proposed that the two superpowers ret...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Create your own user feedback survey Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our mar...Read More