The prices of base metals on the London Metal Exchange were broadly higher at the close of trading on Wednesday September 12, propped up by a sizeable downturn in the US dollar index amid proposals of another round of trade talks between the United States and China. Climbing 3% over the afternoon and recouping losses made at Tuesday's close, nickel's three-month price has pushed back over $12,600...Read More
Edric Koh, head of physical market volumes from the London Metals Exchange, shares his views on nickel's performance so far this year as well as positive upcoming movements for nickel market dynamics at Metal Bulletin's sixth Asian Nickel Conference in Jakarta on September 12."Nickel has performed better in the LME base metals complex since the start of the year, supported by demand from electroni...Read More
Chinese nickel premiums have strengthened amid more active trading, with premiums for 4x4 cut cathode remaining on an uptrend in Europe while stocks continued to tighten. China premiums rise on uptick in trading activityEuropean 4x4 premiums move higher in tight marketUS premiums maintain course. Open import window raises China premiumsIn China, nickel premiums have risen over the past week with t...Read More
Tin price premiums showed few significant changes in the regional markets on Tuesday September 11 on sparse spot-market activity, with Europe keeping an eye on the London Metal Exchange while the US market prepares for the contract negotiation season. Contract supply damps European spot demandStatus quo in US, but contract season loomsAmple stocks keep Asia premiums flat. European premiums steady...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday September 12*Copper $31.12 (214.39yuan) Aluminium -$425.79 (-2,932.89 yuan) Zinc $105.6 (727.39 yuan) Nickel $443.05 (3,051.75 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
Chinese zinc premiums fell 17% week-over-week to a November 2016 ended Tuesday September 11 following a large amount of inventory flowed to China due to an open arbitrage window.Chinese zinc premiums fell 17% in the week ended Tuesday September 11 following a large amount of inventory flowing to China due to an open arbitrage window.In Europe and the United States, premiums were unchanged because...Read More
Three-month base metals prices on the London Metal Exchange were in a steadier tone so far on Wednesday September 12, after they closed broadly lower on Tuesday amid dollar strength and rising trade war concerns. Lead (+0.7%) and sister metal zinc (+0.5%) were leading the gains, with aluminium and copper up by more modest amounts of 0.3% and 0.1% respectively, while nickel (-0.1%) and tin (-0.5%)...Read More
Prices for rebar produced and delivered in Northern Europe widened down ?,?5 per tonne over the past week, but prices are expected to remain largely stable over the coming weeks, market sources told Metal Bulletin on Wednesday September 12.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was at ?,?560-575 ($649-667) per tonne delivered on September 12, compared to ?,?...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have been stable over the week although there have been some declines in import offers, sources told Metal Bulletin on Wednesday September 12."Buyers are waiting to see where prices move and are closely following rumors about a decision in [the European Commission's] safeguard case [against steel imports]," a trader said."Domestic prices are sta...Read More
Southern European re-rollers have kept their prices for heavy steel plate steady this week despite a decline in slab costs, sources told Metal Bulletin on Wednesday September 12.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was unchanged at ?,?600-610 ($696-707) per tonne ex-works on September 12, reflecting a few deals and offers heard in...Read More
Prices for domestic hollow steel sections remained unchanged this week, but could soon increase alongside feedstock rises, market sources told Metal Bulletin on Wednesday September 12.Metal Bulletin's domestic price assessment range for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at ?,?650-670 ($754-777) per tonne delivered on September 12, flat with the prev...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been largely unchanged over the past week, sources told Metal Bulletin on Wednesday September 12.But steelmakers were expected to push for higher prices. The rise might be supported by the effects of the EU's safeguard case on steel imports and by strengthening demand.The European Commission (EC) imposed preliminary measures in a safeguard c...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 2 points in pre-opening trade. Index futures were virtually unchanged following release of August Producer Prices. Consensus was a gain of 0.2% versus no change in July. Actual was down 0.1%. Excluding food and energy, consensus was a gain of 0.2% versus an increase of 0.2% in July. Actual was a decline of 0.1%.Apple...Read More
Key data from the Wednesday September 12 pricing session in Europe. Key drivers - Overall tightness in ferro-titanium propelled prices higher for the fourth consecutive week, with the market set to possibly extend above $6 per kg. Big tonnages currently being negotiated between suppliers and consumers in the steel sector should provide a clearer outlook for spot price direction in the next two or...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday September 12:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.25-12.40 per lb...Read More
The following Metal Bulletin minor metals prices changed on Wednesday September 12:Minor metals Antimony MB free market regulus, $/tonne: $8,450-8,650 per tonne from $8,400-8,600 Antimony MMTA standard grade II, $/tonne: $8,450-8,650 per tonne from $8,400-8,600 Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 52,500-53,000...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday September 12.Base metals prices on the Shanghai Futures Exchange were down across the board during Asian morning trading on Wednesday, with market participants taking stock of the build-up in trade tensions between the United States and China.Check Metal Bulletin's live futures repor...Read More
The stainless steel scrap market in the United States continues to weaken and most scrap companies believe this market will be lackluster through the first quarter of next year."It's going to be a long rest of the year," one US dealer source said. "Doesn't sound like there is much demand, and a weaker nickel, chrome and iron market is going to make it even more difficult."American Metal Marke...Read More
The Turkish steel mills continued their deep-sea scrap purchases for October deliveries on Wednesday September 12.A steel producer in the Iskenderun region booked a United States-origin cargo on Wednesday, comprising 15,000 tonnes of HMS 1&2 (90:10) and 10,000 tonnes of shredded at an average price of $324 per tonne cfr.The same mill also booked a Baltic Sea cargo, comprising 10,000 tonnes of bonu...Read More
Seaborne iron ore prices remained rangebound on Wednesday September 12, with only a few trades reported on an index-linked basis.Metal Bulletin 62% Fe Iron Ore Index: $67.86 per tonne cfr Qingdao, up by $0.19 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.89 per tonne cfr Qingdao, up by $0.19 per tonne.Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $74.17 per tonne cfr Qingdao,...Read More