The US Midwest aluminium premium inched up on Friday June 15, with market participants noting that prices in the spot market are not dropping to incentivize buying despite a backwardation on the London Metal Exchange. American Metal Market assessed the spot P1020 premium at 21.75-22.25 cents per lb delivered to the Midwest, widening slightly from 21.75-22 cents per lb earlier i...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Yokohama, Nagoya and Osaka rose another 6.4% month on month in May, according to Marubeni Corp data released on Friday June 15.MJP aluminium stocks totaled 284,200 tonnes at the end of last month compared with 267,100 tonnes at the end of April. Total stocks at the end of May were also up by 6.9% from the same period of 2017. ...Read More
Global trader Glencore plans to resume royalty payments to a former business partner in the Democratic Republic of Congo (DRC), ending a legal dispute that could have resulted in severe disruption to its copper and cobalt mining operations.The company will make the payments because it is seen as the only viable way to avoid the material risk of the seizure of its assets, which comprise Mutanda Min...Read More
Comex copper prices tumbled Friday morning in the US amid a strong dollar, escalating trade war fears and disappointing Chinese data.Copper for July settlement on the Comex division of the New York Mercantile Exchange tumbled 5.20 cents - or 1.6% - to $3.1700 per lb. Earlier, the contract touched $3.1645. "We maintain our friendly copper view in the near term, treating the recent price weakne...Read More
Flat steel import prices in South America remained unchanged this past week, due to stable offers from China.Metal Bulletin's weekly price assessment of South American hot-rolled coil (HRC) imports held at $620-630 per tonne cfr. Meanwhile, cold-rolled coil (CRC) was assessed at $670-680 per tonne cfr, hot-dipped galvanized coil (HDG) at $750-760 per tonne cfr and plate at $630-640 per tonne cfr -...Read More
Hot-rolled coil prices in the United States have surpassed $45 per hundredweight ($900 per ton) for the first time in nearly 10 years, with sources citing higher quotes from some mills.American Metal Market's hot-rolled coil index rose to $45.52 per cwt on Thursday June 14, up 1.5% from $44.85 per cwt previously and a 54.3% gain from $29.50 per cwt a year ago.This marks the highest level...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Turkish scrap import prices recovered this week on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.The US import pig iron market imp...Read More
Domestic rebar prices in Poland remained largely unchanged over the past week despite slow trading, sources told Metal Bulletin on Friday June 15.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,230-2,300 zloty ($610-629) per tonne ex-works on June 15, compared with 2,220-2,300 zloty per tonne ex-works a week earlier.The assessment reflects the latest re...Read More
Tata Steel Europe and South Korean steelmaker Posco will look to increase their offering of corrosion-resistant steels to the automotive and construction sectors in their respective markets after signing a cross-licensing agreement, the companies said on Thursday June 14.The deal will allow Tata Steel Europe to access Posco's Physical Vapour Deposition (PVD) technology, which allows anti-corrosion...Read More
The number of new passenger car registrations in the European Union increased slightly by 0.83% year-on-year in May 2018.New car sales in Europe totalled 1,398,913 units in May this year, compared with 1,387,450 vehicles sold in the corresponding month of 2017, the...Read More
Key data from the pricing session in the week ending Friday June 15.China Chinese domestic ferro-chrome market strengthens further owing to tightened supply following a new round of environmental inspections in 2018. Higher prices reported for imported charge chrome this week, buoyed by fuel costs increase in winter of South Africa and supply disruptions during maintenance period...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday June 15Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.20-11.30 per lb from $11.30-11.40 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $27.55-27.80 per kg from $27.75-28.00 Ferro-molybdenum US 65-70% Mo, $/Ib: $12.60-13.00 per Ib from $12.70-13.10 Tungsten European free mark...Read More
China's domestic spot battery-grade lithium carbonate prices fell further in thin buying this week but lithium hydroxide prices held steady.Asian seaborne battery-grade lithium carbonate prices also edged down, reflecting the continued fall in Chinese prices.A further fall in battery-grade lithium carbonate prices in China weighs on seaborne cif China, Japan and Korea market pricesDownstream consu...Read More
The latest metal news and price moves to start the North American day on Friday June 15.Base metals prices on the London Metal Exchange were mostly lower again during morning trading despite nickel recouping some of its losses.Here's how three-month LME base metals prices...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday June 15.Base metals prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Friday June 15, pressured by a strengthening US dollar.Check Metal Bulletin's live futures report here. LME snapshot at 03:23 London time Latest 3M LME Prices Price ($/t...Read More
Turkish scrap import prices recovered in the week ended Friday June 15 on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.East Coast fob prices in the US were up due to the Turkish demand. Taiwan import prices rose similarly, wi...Read More
Turkish scrap import prices edged up slightly on Friday June 15, when two deep-sea cargoes came to light that had been booked earlier.No new deals were heard on June 15 with Turkey celebrating the Eid Al-Fitr holiday to mark the end of the Islamic holy month of Ramadan, but two deep-sea cargoes had been heard late on Thursday after...Read More
Prices for containerized shredded scrap imports into India remained flat this week with market activity experiencing a lull, market sources told Metal Bulletin on Friday June 15.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was flat at $379.96 per tonne cfr Nhava Sheva on June 15, almost unchanged from $379.94 per tonne on June 8.Offers for shredded material...Read More
Domestic prices for ferrous scrap in Italy have moved down by ?,?5-10 per tonne so far in June, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade E3 scrap in Italy was ?,?280-300 ($328-351) per tonne delivered on Friday June 15, compared with ?,?285-305 per tonne delivered a month earlier.The decrease was mainly driven by negative sentiment on finished steel....Read More
The United States import pig iron market has improved this week on rising scrap prices and the continued uptrend in the finished steel products markets - hot-rolled coil, in particular.No new bookings have been heard since late May, however, because steel mills have not started to restock yet.Metal Bulletin's weekly price assessment for US pig iron imports increased to $410-415 per tonne cfr on Fr...Read More