Steel scrap prices in the major markets have continued to rise in line with the revival in Turkish buying during the working week from Monday September 3 to Friday September 7.Export prices for scrap out of the United States have strengthened with a number of deep-sea cargoes sold to Turkey and to Vietnam.Turkey importsTurkish steel producers have booked at least nine deep-sea cargoes over the pas...Read More
Prices for ferrous scrap imported into India have increased over the past week, supported by good demand, sources told Metal Bulletin on Friday September 7.But despite the demand for both finished steel and ferrous scrap, buyers were cautious about making new deals because of the fluctuations in the exchange rate for the Indian rupee.Metal Bulletin's weekly index for containerized imports of shred...Read More
Turkish steel producers have continued to book deep-sea scrap shipments for October deliveries, with the prices becoming slightly firmer, sources said on Friday September 7.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 30,000 tonnes of shredded, 15,000 tonnes of HMS 1&2 (90:10) and 5,000 tonnes of plate and structural scrap (P&S) at an average price of $327...Read More
Seaborne iron ore trading stayed relatively active on Friday September 7 after mainstream Australian fines changed hands in deals with no discount a day earlier.Metal Bulletin 62% Fe Iron Ore Index: $68.48 per tonne cfr Qingdao, up by $0.09 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $67.51 per tonne cfr Qingdao, up by $0.09 per tonne.Metal Bulletin 62% Fe Iron Ore Index, Low Alumin...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 transaction: iron oreIron oreBHP, Global Ore, 110,000 tonnes of 62% Fe Newman fines, sold at $68.30 per tonne cfr China, laycan October 6-15.BHP, Global Ore, 90,000 tonnes of 62% Fe Newman fines, sold at $68.30 per tonne cfr, laycan October 11-20.Vale, Glo...Read More
Shanghai zinc premiums touched their highest levels in over four years this week as the Shanghai-London arbitrage window continued to remain open.The premium for Shanghai special high grade zinc ingot increased to $180-200 per tonne on its cif basis, up 30% from 140-150 per tonne a week ago. This was the highest since the arbitrage windowopened at the beginning of August. The last time we saw...Read More
Premium hard coking coal prices moved up on Friday September 7, with traders continuing to drive buying activity.A transaction involving a cargo of premium materials was sold at $192 per tonne fob Australia on Global Coal on Friday, $5 per tonne higher than the last trade involving a cargo in the same bracket on the platform on Tuesday.A transaction involving a cargo of premium mid-vol hard coking...Read More
Following approval to start trading copper futures options on September 21, the Shanghai Futures Exchange has released specified terms for its upcoming copper options contract and has named 18 Chinese companies that will act as market makers on the contract.The exchange received the greenlight to trade the long-awaited futures copper options from the China Securities Regulatory Commission last wee...Read More
The following Metal Bulletin minor metals prices changed on Friday September 9:Minor metals Antimony MB free market regulus, $/tonne: $8,400-8,600 per tonne from $8,350-8,600 Antimony MMTA standard grade II, $/tonne: $8,400-8,600 per tonne from $8,350-8,600 Bismuth MB free market, $/lb: $4.00-4.60 per lb from $4.00-4.30 Bismuth MB China domestic, yuan/tonne: 56,000-57,000 yuan...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
Brazilian pipe, bar and stainless steels distributor Grupo A??otubo has started up a stainless steel bar processing unit after investing 8.50 million Reais ($2.07 million) in it. "We will be able to offer a more complete portfolio [of products] and increase our share in the market," Mar??al dos Santos Junior, A??otubo's marketing manager, told Metal Bulletin late last week. With the new line, A??o...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday September 7:Aluminium scrap Floated Frag: ?,?1,140-1,180 per tonne from ?,?1,180-1,220 Cast:...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
Gold futures are currently trading up $3.70 and as of 4:00 PM Eastern standard time, are fixed at $1,205. That makes for a modest gain but well below the highs achieved earlier as gold traded to $1,212.70 an ounce. About 76% of the gains today can be attributed to investors bidding up the precious yellow metal. The remaining 24% of today's gains are a result of the fractionally weaker U.S. dollar....Read More
(Kitco News) - Gold prices were just slightly up in early-afternoon U.S. trading Thursday. Better gains seen in early-morning trading were given back as the session progressed. A modestly weaker U.S. dollar index today and slightly downbeat U.S. economic news supported some buying interest in the precious metals markets today. Also, there could have been some mild safe-haven demand at work support...Read More
Standard Chartered expects a bounce in gold prices once this month’s meeting of the U.S. Federal Open Market Committee is history. Trade tensions, the performance of China’s currency and emerging-market currency weakness are continuing to set the tone for gold prices, Standard says. “However, we still expect gold prices to gain upward momentum after the September FOMC meeting,&rd...Read More
(Kitco News) - Holdings of gold by global exchange-traded funds and similar products fell by 40 tonnes during August, the World Gold Council reported Thursday.Holdings now stand at 2,353 tonnes after three straight months of declines. The drop was also coupled with softer gold prices and assets under management fell by 3%. For the year to date, ETF holdings are now down by 18.5 tonnes.Most ETFs tr...Read More
(Kitco News) - Gold remained stronger after the Commerce Department reported Thursday that U.S. factory orders fell by 0.8% to $497.8 billion in July. Comex December gold was last up $9.60 at $1,210.90.Consensus expectations compiled by various news organizations called for orders to be down by around 0.6% or 0.7%.The monthly decline followed a short streak of two straight decreases. June durables...Read More
(Kitco News) - Gold prices edged down slightly but remained near daily highs after momentum in the service sector beat expectations in August, according to the latest data from the Institute of Supply Management (ISM).The Non-Manufacturing Purchasing Managers' Index rose to a reading of 58.5% in August, up from July’s reading of 55.7%. The increase was a surprise to the markets, which expect...Read More
(Kitco News) - Gold and silver prices are higher in early U.S. trading Thursday. A weaker U.S. dollar index today and some slightly downbeat U.S. economic news are supporting some buying interest in the precious metals markets. Also, there could even be some safe-haven demand at work supporting the metals today, amid new and unflattering revelations about U.S. President Trump. December gold future...Read More