The latest news and price moves to start the Asian day on Tuesday July 3.Nickel prices on the London Metal Exchange fell by more than 2% by the close of trading on Monday July 2, topping broad losses across the complex while escalating trade tensions and dwindling equity markets weighed on commodities. Read more in our live futures report.Here are how prices looked at the close of tradin...Read More
Zinc prices on the London Metal Exchange struggled at the close of trading on Tuesday July 3, falling 1.1% over the afternoon and dipping below $2,800 per tonne for the first time since August 2017 amid broadly bearish trading conditions. "The base metals complex this morning remains uninspiring, with most metal prices struggling to attract dip-buying interest. The LME zinc price is still trading...Read More
Comex copper prices were slightly lower on Tuesday July 3 morning in the US, with trade shallow ahead of the Fourth of July holliday.Copper for September settlement on the Comex division of the New York Mercantile Exchange inched down 0.10 cents or 0.1% to $2.9430 per lb. The contract now sits at its lowest point since August 2017.Base metals have...Read More
Base metals on the London Metal Exchange edged higher during morning trading on Tuesday July 3, supported by a downtick in the dollar index while turbulent trade relations between the United States and major economies continue to destabilize commodities. "London has seen a re-emergence of the systematic sell programs after the poor closes last night, where most [base metals] settled on the session...Read More
Norwegian ferro-silicon producer Finnfjord Smelteverk will cut about 3,500 tonnes of production between July and August of this year because of planned maintenance to one of its furnaces, according to an industry source. The company, which has its plant in the north of the country, operates three furnaces, one with capacity for 20,000 tonnes per year and two with capacities for 40,000 tpy. Mainten...Read More
Following extensive market engagement, Metal Bulletin has decided to extend the consultation period for the proposed launch of a battery-grade lithium ex-works China index to provide additional time for market participants to submit feedback. Metal Bulletin is committed to providing transparent pricing for the lithium sector and is therefore extending the timeframe to collect further feedback on t...Read More
Domestic Chinese ferro-chrome prices have risen in line with July tender prices from leading stainless steel mills. Spot domestic ferro-chrome prices rise in China Chrome ore, charge chrome import prices slideJapanese alloy prices edge upFerro-chrome prices rise in Europe Alloy markets flat in South Korea, United StatesChinese spot domestic ferro-chrome prices rose 4% in the week to Friday June 29...Read More
Vanadium prices resumed their rally in earnest last week after buyers paid higher prices to secure scarce units, with no signs of change to the persistent tight supply situation. Chinese export prices jump with spot units in limited supply amid persistent foreign inquiries European ferro-vanadium prices surge in the second half of the week after sellers hold firm with their offers Thin spot supply...Read More
Turkish steel mills have remained quiet in the deep-sea scrap markets, waiting for lower prices from suppliers due to falling values for finished steel and billet, sources said on Tuesday July 3.The mills in the country booked a number of deep-sea cargoes from the United States last week but fell quiet later in the week. The material in the cargoes was priced around $354 per tonne cfr for HMS 1&2...Read More
Comex copper prices were slightly lower on Tuesday July 3 morning in the US, with trade shallow ahead of the Fourth of July holliday.Copper for September settlement on the Comex division of the New York Mercantile Exchange inched down 0.10 cents or 0.1% to $2.9430 per lb. The contract now sits at its lowest point since August 2017.Base metals have...Read More
Three-month base metals prices on the London Metal Exchange were split into two camps on the morning of Tuesday July 3, with aluminium and tin prices both off by 0.3%, while the rest of the complex was up by between 0.1% and 0.6%. Zinc led the rebound, while copper was the laggard at $6,578 per tonne.Volume has been above average with 8,372 lots traded as at 7:13am London time.Precious metals were...Read More
Following extensive market engagement, Metal Bulletin has decided to extend the consultation period for the proposed launch of a battery-grade lithium ex-works China index to provide additional time for market participants to submit feedback. Metal Bulletin is committed to providing transparent pricing for the lithium sector and is therefore extending the timeframe to collect further feedback on t...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia either held steady or decreased this week because of lower offer prices, sources told Metal Bulletin on Tuesday July 3.Construction activity is very low in the region because of seasonal summer effects, market participants said, with demand unlikely to improve before August.UAEMetal Bulletin's weekly price assessment for UAE imp...Read More
A leading Japanese steel major has hiked its offers for August-shipment hot-rolled coil (HRC) to $660-665 per tonne cfr Southeast Asia after market sentiment turned bullish.It is offering base-grade HRC at $660 per tonne and SS400 HRC at $665 per tonne to Malaysia. It is offering base-grade HRC at $660 per tonne and SAE1006 HRC at $665 per tonne to Indonesia. It is not offering any HRC to Vietnam....Read More
China's ferrous futures retreated across the board during morning trading on Tuesday July 3, especially the steel contracts, amid weakness in the physical markets.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,723 yuan ($562) per tonne, down 46 yuan per tonne October hot-rolled coil: 3,835 yuan per tonne, down 37 yuan per tonne Dalian Commodity Exchange Septemb...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transactions: rebarRebarOman, export, rebar, traded at $615-620 per tonne cfr, theoretical weight, to the UAE.Oman,...Read More
Novolipetsk Steel (NLMK) has reduced its rebar prices for Russia's Central region, following similar action by fellow steelmaker Severstal, which decreased its offers last week.Metal Bulletin's domestic prices for Russian 12mm A500C rebar narrowed downward on July 2 by 1,000 roubles per tonne to 37,000-37,500 roubles ($585-593) per tonne cpt Moscow, including...Read More
CIS export rebar and wire rod prices remained largely unchanged in the week ended Monday July 2 because buying activity was reduced.Metal Bulletin's weekly assessment of rebar export prices from the CIS widened downward by $5 per tonne to $545-575 per tonne fob Black Sea on July 2.There were not many offers of rebar because most mills have almost closed their order books for July.Several market pa...Read More
Turkish steel mills have remained quiet in the deep-sea scrap markets, waiting for lower prices from suppliers due to falling values for finished steel and billet, sources said on Tuesday July 3.The mills in the country booked a number of deep-sea cargoes from the United States last week but fell quiet later in the week. The material in the cargoes was priced around $354 per tonne cfr for HMS 1&2...Read More
Australian iron ore lump prices continued to rise on Tuesday July 3, while fines prices stayed rangebound.Metal Bulletin 62% Fe Iron Ore Index: $64.55 per tonne cfr Qingdao, up $0.01 per tonne Metal Bulletin 58% Fe Premium Index: $51.95 per tonne cfr Qingdao, up $0.03 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91.50 per tonne cfr Qingdao, down $0.10 per tonne Metal Bulletin 62% Fe China Port...Read More