Pasar copper smelter in the Philippines is expected to operate at a reduced capacity during the second half of the year while the company makes repairs to its sulfuric acid cooling plant, Metal Bulletin has learned. Pasar, which is 78% owned by Swiss miner-trader Glencore, halted output in January due to a failure in the smelter's sulfuric acid cooling plant. Despite restarting in February, t...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Turkey's ferrous scrap import market remained quiet on Friday June 22 ahead of the outcome of the Turkish general election on Sunday. Market activity briefly picked up on Tuesday and Wednesday this week, with four deep-sea cargoes booked after a slow start to the week following a public holiday in Turkey to celebrate Eid on Friday last week. But activity waned again in the days before the election...Read More
Comex copper prices continued their downtrend on the last trading day of the week despite the dollar softening. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 0.10 cents or 0.1% to $3.0205 per lb. The contract is now on a seven-day losing streak. "We have a bullish outlook on copper. We have a hypothetical long position in copper that we initiated at th...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
China's domestic spot battery-grade lithium hydroxide prices fell on Thursday June 21 following the recent downtrend in the lithium carbonate market as well as because of quiet buying activity among downstream consumers. Lithium hydroxide prices fell on lower offers and deals. Lithium carbonate prices stable in China due to slow market activity. Downstream consumers held off from buying in anticip...Read More
India is proposing increases for import duties on 30 products from the United States including certain steel goods, in a tit-for-tat move against the latter's Section 232 tariffs on steel and aluminum.Flat-rolled coated steel, stainless hot-rolled steel coil, grain-oriented electrical steel, steel spring and several other structural and construction steel products will be subject to a 15% increase...Read More
China's domestic hot-rolled coil prices retreated slightly on Friday June 22 after trading activity fell due to bad weather.DomesticEastern China (Shanghai): 4,260-4,280 yuan ($656-659) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 4,200-4,220 yuan per tonne, down 20 yuan per tonne Although the rainy season for many parts of the country began earlier this week, the effect it had on th...Read More
Chinese ferrous futures fell in the first hour of morning trading on Friday June 22 before experiencing a sharp rebound, but went on to end the session little changed from their opening prices.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,768 yuan ($580) per tonne, down 5 yuan per tonneOctober hot-rolled coil: 3,871 yuan per tonne, up 1 yuan per tonne Dalian Co...Read More
Local secondary billet prices in India fell by about 900 rupees ($13) per tonne this week on account of reduced inquiries and minimal buying from finished product makersThe price assessment for domestic secondary billet in India (mainly produced via an induction furnace) stood at 35,800-36,000 rupees per tonne ex-mill on June 22, a drop of 900 rupees per tonne from 36,700-36,900 rupees per tonne e...Read More
The UK light iron scrap market was stable in the week to Friday June 22 for the 11th week in a row, with market sentiment suggesting an increase next week in line with expected renewed demand from Turkey, sources said.Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-120 ($119-158) per tonne on Friday. This compares with the low for the year...Read More
Domestic rebar prices in Poland have remained largely unchanged over the past week due to seasonally strong market activity, sources told Metal Bulletin on Friday June 22.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,240-2,300 zloty ($599-615) per tonne ex-works on June 22, compared with 2,230-2,300 zloty per tonne ex-works.The assessment reflects tra...Read More
Turkey's ferrous scrap import market remained quiet on Friday June 22 ahead of the outcome of the Turkish general election on Sunday. Market activity briefly picked up on Tuesday and Wednesday this week, with four deep-sea cargoes booked after a slow start to the week following a public holiday in Turkey to celebrate Eid on Friday last week. But activity waned again in the days before the election...Read More
The UK light iron scrap market was stable in the week to Friday June 22 for the 11th week in a row, with market sentiment suggesting an increase next week in line with expected renewed demand from Turkey, sources said.Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-120 ($119-158) per tonne on Friday. This compares with the low for the year...Read More
High-grade fines and lumps continued to outperform other types of materials in the iron ore market on Friday June 22.Metal Bulletin 62% Fe Iron Ore Index: $65.34 per tonne cfr Qingdao, up $0.46 per tonneMetal Bulletin 58% Fe Premium Index: $53.57 per tonne cfr Qingdao, down $0.01 per tonneMetal Bulletin 65% Fe Iron Ore Index: $89.60 per tonne cfr Qingdao, up $1.90 per tonneMetal Bulletin 62% Fe Ch...Read More
Slab export prices from Brazil declined marginally this week, with local mills competing to book orders to the United States in the wake of the new quota system. Metal Bulletin's weekly price assessment for slab exports from Brazil fell to $580-595 per tonne fob on Friday June 22 from $590-600 per tonne fob previously. Deals from Brazilian companies to US buyers were heard...Read More
India is proposing increases for import duties on 30 products from the United States including certain steel goods, in a tit-for-tat move against the latter's Section 232 tariffs on steel and aluminum.Flat-rolled coated steel, stainless hot-rolled steel coil, grain-oriented electrical steel, steel spring and several other structural and construction steel products will be subject to a 15% increase...Read More
China's domestic rebar prices decreased on Friday June 22 amid high selling interest. Domestic Eastern China (Shanghai): 4,040-4,080 yuan ($622-628) per tonne, down 80 yuan per tonne Northern China (Beijing): 3,880-3,930 yuan per tonne, down 20 yuan per tonne Traders actively sold rebar to lower their inventory levels before end-user demand weakens further. But buyers also kept their procurement r...Read More
European base prices for flat and long stainless steel products were stable this week, while market participants wait for the full range of alloy surcharges to be announced for July.Finnish stainless steelmaker Outokumpu's alloy steel surcharge for July deliveries of 2mm grade-304 cold-rolled (CR) stainless steel sheet has risen to ?,?1,647 ($1,907) per tonne, the company's website announced on Th...Read More