Thin trading due to weak demand in Southeast Asia kept steel billet and slab import prices unchanged across the region, including East Asia, over the past week.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $545-550 per tonne cfr for the week ended Monday June 25, unchanged from a week earlier.Billet from the Commonwealth of Independent States (CIS) was heard b...Read More
The European charge and high carbon ferro-chrome benchmark has settled at $1.38 per lb for the third quarter of 2018. The settlement represents a reduction of 4 cents compared with the second quarter of the year. Metal Bulletin reported on June 18 that the widely-anticipated price reduction would be smaller than early estimates, due to rising spot ferro-chrome prices in Europe and China. Metal Bul...Read More
Prices for vanadium pentoxide (V2O5) jumped in China and Europe in the week ended Friday June 22, buoyed by tight supply in the spot market, while US ferro-vanadium quotations stabilized though low availability persists there. China's vanadium export prices jump on domestic tightnessEuropean vanadium market moved higher owing to tight spot cargoes US ferro-vanadium market largely was stable,...Read More
Ferro-chrome prices are rising in China amid domestic smelters shutdowns and South African supply concerns. Domestic ferro-chrome production shutdowns push up alloy prices in China South African charge chrome prices jump Ore prices continue to edge higher No impact from China tightness on Japan, South Korea European prices hold at 2018 high Imported ferro-chrome prices kept rising in China on Frid...Read More
Brazilian iron ore pellet producer Samarco has reached a final agreement with Brazilian authorities and its shareholders - Vale and BHP - to settle legal action that resulted from a tailings dam disaster in 2015. The agreement was signed by Samarco, Vale, BHP, and the Brazilian prosecution offices of the federal government and the states of Minas Gerais and Esp?-rito Santo, as well as other govern...Read More
Base metals on the London Metal Exchange ended mostly lower at the close of trading on Tuesday June 26, weakened by volatile trade relations between the United States and other major economies. "In terms of today's action, we are down once again in the metals space, as the sector typically lands squarely in the middle of any US/Chinese trade spat, real or imagined," INTL FCStone analyst Edward Mei...Read More
The hot-rolled (HR) and cold-rolled (CR) steel sheet markets in Russia's central region around Moscow remained weak this week on lower demand than expected during the summer period. The World Cup football tournament, hosted in Russia (June 14-July 15), has had an effect on market activity as well, sources told Metal Bulletin. "Demand was lower than expected even in early June before the World Cup...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week with new deals and higher offer prices, sources told Metal Bulletin on Tuesday June 26. Market participants are expecting prices to be stable for some time because demand is weak. Import prices have increased globally since May, when buying was scarce in the Middle East because of the Islamic holy month...Read More
There have been more deals for third-quarter cif main Japanese ports (MJP) aluminium supply agreed at a premium of $132 per tonne between several buyers and more than one producers, sources involved in the quarterly negotiations said on Tuesday June 26. The number, which could become the quarterly benchmark if more than 30,000 tonnes of business are confirmed at that level, represents a 2.3% incre...Read More
The latest metal markets news and price moves for the start of the North American day on Tuesday June 26. Nickel prices on the London Metal Exchange were down by more than 3% at the close of trading on Monday June 25, while other base metals prices also slumped. Here's how LME prices looked at 12:36pm in London. Hassan...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday June 26.Most base metals prices on the Shanghai Futures Exchange ended the Asian morning trading session on Tuesday in negative territory, with deepening fears of a China-United States trade war weighing on the sector. Nickel led the complex lower with the most-traded September contrac...Read More
Base metals on the London Metal Exchange ended mostly lower at the close of trading on Tuesday June 26, weakened by volatile trade relations between the United States and other major economies. "In terms of today's action, we are down once again in the metals space, as the sector typically lands squarely in the middle of any US/Chinese trade spat, real or imagined," INTL FCStone analyst Edward Mei...Read More
Comex copper prices traded at the lowest point since March 2018 on Tuesday June 26 with threats of a growing trade war weighing on the metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.40 cents or 0.1% to $2.9830 per lb. Earlier, the contract touched $2.9795, the lowest since March 26. "Copper has slipped since mid-June due to growin...Read More
Iron ore prices remained rangebound on Tuesday June 26, with the sudden depreciation in the yuan's value against the US dollar causing some jitters in the market.Metal Bulletin 62% Fe Iron Ore Index: $66.62 per tonne cfr Qingdao, up $1.13 per tonneMetal Bulletin 58% Fe Premium Index: $52.77 per tonne cfr Qingdao, down $0.29 per tonneMetal Bulletin 65% Fe Iron Ore Index: $90.40 per tonne cfr Qingda...Read More
Comex copper prices traded at the lowest point since March 2018 on Tuesday June 26 with threats of a growing trade war weighing on the metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.40 cents or 0.1% to $2.9830 per lb. Earlier, the contract touched $2.9795, the lowest since March 26. "Copper has slipped since mid-June due to growin...Read More
Metal Bulletin is running a one-month consultation to seek feedback on whether to keep excluding certain origins in the assessment of its spot main Japanese ports (MJP) aluminium P1020 cif premium. At present, Metal Bulletin excludes aluminium P1020 from India, Iran, Egypt, Brazil and from London Metal Exchange warehouses (warrants) for its spot MJP premium assessment because brands from these cou...Read More
The copper cathode premium's ascent in the United States paused over the past week, with the market struggling with a major arbitrage and nightmarish freight conditions.American Metal Market's assessment of the US copper cathode premium was flat at 6.5-7 cents per lb delivered to the Midwest on Tuesday June 26, maintaining the highest level since mid-July 2014. Premiums have moved up by...Read More
The US Midwest aluminium premium has retreated to a level last seen in late March to early April, before the effect of sanctions against Russia set into the market.American Metal Market's assessment of the spot P1020 premium has dropped to 21.25-21.5 cents per lb on Tuesday June 26, the lowest level since the premium was assessed at 18.75-19.25 cents per lb on March 27 and where it remained u...Read More
GFG Alliance is seeking to obtain 5 million tons per year of steel capacity in the United States within the next two to three years, primarily via acquisitions and the restoration of dormant brownfield facilities, executive chairman Sanjeev Gupta said on Tuesday June 26. London-based GFG - parent of industrial conglomerate Liberty House Group, which would directly control the new steel capacity -&...Read More
JSW Steel (USA) plans to spend up to $1 billion on major investments in the United States, including $500 million to install a hot end at its Baytown, Texas, plate mill and $500 million in an acquisition and associated investments at the Acero Junction mill in Ohio, the company's top executive said.That spending comes as the company's focus, which initially targeted heavy plate and energy markets...Read More