Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday July 26.Base metals prices on the Shanghai Futures Exchange were broadly down during morning trading on Thursday, with investors' concerns over the ongoing trade war keeping the complex under pressure. Check Metal Bulletin's live futures report here.Deal activity in the metals sector...Read More
Pascal Tran has left his position as a base metals trader at Soci?(C)t?(C) G?(C)n?(C)rale, Metal Bulletin understands. ...Read More
Hot-rolled flat steel and wire rod production volumes in China were up in June despite production cuts. ...Read More
Indonesia will have to wait until 2023 to see a share of copper from Grasberg, despite having agreed to pay $3.85 billion to gain a majority stake in the mine. Indonesian state mining and manufacturing firm Inalum is set to complete the purchase of 51% of Grasberg copper mine later this year, buying out Rio Tinto's 40% shareholding and paying current majority holder Freeport for the remainder...Read More
Base metals prices on the London Metal Exchange were marginally higher across the board at the close of trading on Thursday July 26, bolstered by easing trade tensions after the United States and European Union agreed to negotiate tariffs on industrial goods. ...Read More
Comex copper prices were very steady in morning trading on Thursday July 26, with the market processing the latest news on the trade war front....Read More
Trading activity in the physical iron ore market cooled further on Thursday July 26 amid China's lackluster steel and futures markets, as well as production restrictions in the country's steelmaking hub....Read More
Turkish deep-sea scrap import prices have remained largely stable in recent sales and no recovery was expected any time soon, sources said on Thursday July 26....Read More
Teck Resources has lowered its forecast for refined lead production at its Trail operations, citing limited concentrate feed availability following disruptions at its suppliers. ...Read More
The United States and European Union will work together to quickly "resolve" the discord created by the Section 232 steel and aluminium tariffs and subsequent retaliatory tariffs, US Treasury Secretary Steven Mnuchin said....Read More
Teck Resources is planning to secure an additional partner for the development of a new resource at the Quebrada Blanca copper mine in Chile with the goal of eventually reducing its own stake to 60-70%. ...Read More
Comex copper prices were very steady in morning trading on Thursday July 26, with the market processing the latest news on the trade war front....Read More
Indonesia will have to wait until 2023 to see a share of copper from Grasberg, despite having agreed to pay $3.85 billion to gain a majority stake in the mine. Indonesian state mining and manufacturing firm Inalum is set to complete the purchase of 51% of Grasberg copper mine later this year, buying out Rio Tinto's 40% shareholding and paying current majority holder Freeport for the remainder...Read More
Novelis, a subsidiary of India's Hindalco, has agreed to buy US-based downstream aluminium producer Aleris for $2.6 billion, it said on Thursday July 26. ...Read More
Pascal Tran has left his position as a base metals trader at Soci?(C)t?(C) G?(C)n?(C)rale, Metal Bulletin understands. ...Read More
Prices for foreign hot-rolled coil and plate imported into the United States have dipped on demand concerns and the potential for an easing in Section 232 tariffs, market sources said....Read More
Sales volumes of semi-finished steel products by Russian steelmaker Evraz dropped by 14.6% year-on-year in the first half of 2018 because of lower crude steel output at the Nizhny Tagil Metallurgical Plant (NTMK) as well as the disposal of DMZ Petrovskogo, Metal Bulletin understands....Read More
The CIS export billet price inched up on Thursday July 26, supported by reduced availability of billet in the region....Read More
Steel billet import prices increased this week in Egypt with higher offers in the market, but domestic rebar prices have remained unchanged, sources told Metal Bulletin on Thursday July 26. ...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. ...Read More