Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday July 5.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Thursday, with the complex continuing to come under pressure from growing trade concerns. Check Metal Bulletin's live futures report here.Worldwide Warehouse Solutions (WWS) ha...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
Former Trafigura base metals trader Ben Thomson has joined Viant Commodities to look after the company's European business, Metal Bulletin has learned. Thomson joined the Singapore-headquartered trading company last month. He was the head of the base metals Singapore desk at Trafigura until January this year, having joined in 2013...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
The world's largest coking coal producer, BHP, is "cautiously optimistic" about India's economic potential, with the country on the brink of becoming the top importer of the steelmaking raw material. India's coal imports are expected to hit 69 million tonnes by 2020, when it will overtake China as the top importer of coking coal, according to the Australian government's latest Energy and Resources...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
Base metals on the London Metal Exchange were mixed at the close of trading on Thursday July 5, pressured by macroeconomic uncertainty amid continued sell-offs in copper, zinc and tin prices.While zinc prices continue to be hampered by a flurry of short-covering, the metal's three-month price avoided another drop below the nearby support level of $2,700 per tonne at the afternoon close. In ad...Read More
Comex copper prices crashed to a one-year low on Thursday morning in the United States with market sentiment in the red metal affected by fears of an escalating trade war as well as thin trading. Copper for September settlement on the Comex division of the New York Mercantile Exchange tumbled 6.40 cents or 2.2% to $2.8530 per lb. Earlier, the contract touched $2.8370, the lowest since July 2017. T...Read More
Former Trafigura base metals trader Ben Thomson has joined Viant Commodities to look after the company's European business, Metal Bulletin has learned. Thomson joined the Singapore-headquartered trading company last month. He was the head of the base metals Singapore desk at Trafigura until January this year, having joined in 2013...Read More
The Turkish deep-sea scrap import market remained silent on Thursday July 5, due to continuing weak demand in the country's finished steel markets, according to sources.After finishing bookings for July deliveries, Turkish steel producers have gone quiet as demand for finished steel in both the local and export markets has failed to bounce back after the country's presidential and general election...Read More
Leon Westgate has joined VTB Capital as head of metals strategy, Metal Bulletin has learned. Westgate, who was most recently a senior metals and bulk analyst and head of...Read More
The board of directors of G?(C)camines has implemented a new corporate structure including a more decentralized organization and a drive to promote a new generation of younger managers. The Democratic of Congo's (DRC) state-run miner said the reorganization will not result in any job losses but may include the redeployment of some staff from one area to eventually work in another division of eithe...Read More
Comex copper prices crashed to a one-year low on Thursday morning in the United States with market sentiment in the red metal affected by fears of an escalating trade war as well as thin trading. Copper for September settlement on the Comex division of the New York Mercantile Exchange tumbled 6.40 cents or 2.2% to $2.8530 per lb. Earlier, the contract touched $2.8370, the lowest since July 2017. T...Read More
Metals packaging firm Ball Corp is to cease production at its beverage packaging plant in Cuiab??, Brazil, and will provide for customers' needs through others of the company's units in the country.The Cuiab?? plant opened in 1998 and employs about 70 people, some of whom will transfer to other Ball locations."Absorbing this one line-can plant into Ball's remaining network of 13 plants in...Read More
The latest metal markets news and price moves for the start of the North American day on Thursday July 5.Base metals on the London Metal Exchange ticked higher across the board during morning trading with lead prices climbing by 1.7% after a fresh 15,000 tonne cancelation in Antwerp. Here's how base metals prices look at 12:12pm London time:Read our live futures report here."With the LME nearby sp...Read More
GFG Alliance, the parent company of international metals group Liberty House, has acquired the freehold and cargo-handling services of Bird Port in Newport, South Wales, UK, it said on Thursday July 5.Bird Port, which will be renamed SIMEC Bird Port following completion of the deal, handles cargoes totaling as much as 800,000 tonnes per year, mainly steel and bulk products. The port is also used b...Read More
Turkish billet import prices have gone down this week on sluggish demand, while domestic and export prices have remained largely stable, sources said on Thursday July 5.Metal Bulletin's weekly price assessment for billet imports into Turkey was $520-530 per tonne cfr, down from last week's $530-540 per tonne.The downward movement in the assessment came after CIS suppliers lowered their offers to $...Read More
Turkish domestic rebar and wire rod prices have gone down over the past week due to sluggish demand, sources said on Thursday July 5.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $550-560 per tonne ex-works on Thursday, narrowing downward from last week's $550-565 per tonne."Time has passed since the [presidential and parliamentary] elections [in Turkey on...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom.Latest transaction: billetBilletCIS,...Read More
Turkish rebar export prices have gone down slightly over the past week, amid sluggish buying. But market participants were generally optimistic and expected demand to improve, sources said on Thursday July 5.Metal Bulletin's weekly price assessment for rebar exports out of Turkey was $545-555 per tonne fob on an actual weight basis, narrowing downward from the $545-560 per tonne of last week.Turki...Read More