Most secondary aluminium alloy prices ticked lower in the United States on Tuesday September 4, with a new record-wide spread between benchmark A380.1 and non-ferrous auto shred (twitch) heightening the pressure on alloys.The benchmark A380.1 price logged a half-cent drop on the low end of the range to 94-96 cents per lb on September 4, the lowest level since September 2017.Depressed prices in the...Read More
BHP has entered into an agreement to buy a small stake in an Australian junior mining company that owns and operates a copper-gold project in Ecuador.The move, which will see the UK-listed miner acquire a 6.1% stake in Brisbane-based SolGold Plc from Guyana Goldfields Inc, is intended to boost BHP's copper exploration portfolio and give it a bigger foothold in the Latin American country.The Cascab...Read More
Metal Bulletin wishes to highlight minor changes to the publication of its Rotterdam aluminium P1020A premium monthly averages following the discontinuation of single number assessments on August 24.Metal Bulletin discontinued the publication of single number assessments for a range of base metals premiums, the full list of which can be found here. The monthly averages for Rotterdam duty-unpaid al...Read More
Chinese gold and copper miner Zijin Mining is set to outbid competitor Lundin Mining to acquire Canada's Nevsun Resources, in an agreement valued around C$6 ($4.56) per share and totaling C$1.86 billion ($1.41 billion), Nevsun said on Wednesday September 5.The takeover bid, which is set to be announced before September 18, comes after multinational minerals company Lundin Mining publicly announced...Read More
Comex copper prices sustained a minor recovery in midweek trading on Wednesday September 5 with a softening dollar supporting the base metals complex.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange tumbled by 7.55 cents or 2.8% to $2.5955 per lb. Earlier in the day, the contract had fallen to $2.58 per lb, the lowest price since August 15."After a sh...Read More
Zinc premiums shot up to four-year highs in China in the week ended Tuesday September 4 after a large import arbitrage encouraged deals at premiums up to and above $200 per tonne. Elsewhere, zinc and lead ingot physical markets were unchanged. Premiums hit a four-year high basis cif Shanghai Asia, Europe, US markets were unchanged for zinc and lead premiums Market readying for an...Read More
Prices for domestic hollow steel sections produced and delivered in Northern and Southern Europe rose this week on higher costs for hot rolled coil, sources told Metal Bulletin on Wednesday September 5.Metal Bulletin's domestic price assessment range for commodity-size, grade-S235 square hollow sections made in Northern Europe narrowed upward to ?,?650-670 ($753-776) per tonne delivered on Septemb...Read More
Prices for rebar produced and delivered in Southern Europe have softened over the past week with mills adjusting their offers to reduce interest in imported material, sources told Metal Bulletin on Wednesday September 5.Metal Bulletin's weekly price assessment for domestic rebar in Southern Europe widened downward to ?,?530-560 ($614-648) per tonne delivered on Wednesday, compared with ?,?540-560...Read More
Three-month base metals prices on the London Metal Exchange were for the most part little changed this morning, Wednesday September 5, with consolidation mode setting in after Tuesday’s losses. The main exceptions were nickel, which was down by 0.4%, and lead, which was up by 0.4%. Aluminium was up by 0.2%, while the rest were either side of unchanged. Copper was up by 0.1% at $5,846 per tonn...Read More
Iranian export billet and slab prices were mostly stable over the week ended Wednesday September 5, and several deals were heard to Southeast Asia and to other parts of the Middle East.Shipping from Iran has become more difficult because the introduction of new trading sanctions by the United States, and increased freight costs, have reduced the number of available vessels willing to carry Iranian...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billet, slabBilletIran, export, billet, traded at $460-467 per tonne fob, to South East Asia.Iran, export, billet, traded at $463 per...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday September 5:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.20 per lb from $11.80-12.00 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg...Read More
The following Metal Bulletin minor metals prices changed on Wednesday September 5:Minor metals Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 52,000-53,000 yuan per tonne from 52,000-52,800 yuan Cobalt MB free market high grade, $/lb: $33.00-34.10 per lb from...Read More
Key data from the Wednesday September 5 pricing session in Europe. Key drivers - Persistent tightness in ferro-titanium availability, as well as higher grade scrap - particularly from Russia, has propelled markets higher again in the past week. Consumer buying has yet to emerge in full after the seasonal summer slowdown, potentially paving the way for a break above $6 per kg for alloy, sources...Read More
The latest metal markets news and price moves to start the North American day on Wednesday September 5. Base metals' prices on the London Metal Exchange were mostly lower during morning trading, buffeted by continued strength in the US dollar while emerging market weakness, notably in Argentina, continues to rattle commodity investment.That said, marginal upticks in the three-month copper and nick...Read More
Technical action near the close: Mexico iShares moved below $48.92. NAFTA negotiations requiring Congressional approval with both Canada and Mexico have yet to be completed.Brazil iShares showing volatility prior to the election on October 7thCanadian "oily" stocks remain under pressure despite higher crude U.S. crude oil prices. More fallout from delay of the TransMountain Pipeline expansion!Gree...Read More
The spot prices of manganese ore at the Chinese ports of Tianjin and Qinzhou have been diverging between Australian-origin and South African-origin since the start of August.Australian lump fot prices are now around 62 yuan ($9.07) per metric tonne unit in Tianjin port, the country's major manganese ore trading hub, according to sources in China. This equates to about $7.70 per mtu. Meanwhile fot...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday September 5. Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Wednesday, with nickel leading the complex lower. Tin was the only metal record any gains.Check Metal Bulletin's live futures report here. A Japanese consumer has conclud...Read More
The Turkish steel mills continued to book deep-sea scrap on Wednesday September 5, with prices rising.Three steel producers booked six deep-sea cargoes on Wednesday, totaling almost 160,000 tonnes, according to market sources.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $317 per tonne cfr.The same mill booked a second Baltic Sea cargo...Read More
Iron ore prices were little changed on Wednesday September 5 following reports of steelmaking restriction plans for China's steelmaking hub of Tangshan being reissued.Metal Bulletin 62% Fe Iron Ore Index: $66.79 per tonne cfr Qingdao, up by $0.17 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $65.82 per tonne cfr Qingdao, up by $0.17 per tonne.Metal Bulletin 62% Fe Iron Ore Index-Low A...Read More