The latest news and price moves to start the Asian day on Wednesday June 13.Base metals prices on the London Metal Exchange retreated on Tuesday June 12 amid a bout of selling, with a lack of fresh catalysts to drive the market. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper prices softened in morning trading in the United States, with supply i...Read More
The latest news and price moves to start the Asian day on Wednesday June 13.Base metals prices on the London Metal Exchange retreated on Tuesday June 12 amid a bout of selling, with a lack of fresh catalysts to drive the market. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper prices softened in morning trading in the United States, with supply i...Read More
The latest news and price moves to start the Asian day on Wednesday June 13.Base metals prices on the London Metal Exchange retreated on Tuesday June 12 amid a bout of selling, with a lack of fresh catalysts to drive the market. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper prices softened in morning trading in the United States, with supply i...Read More
Base metals on the London Metal Exchange were mostly lower during morning trading on Wednesday June 13, with aluminium and tin dropping over 1% and copper, zinc and nickel edging lower, while lead made slight gains. Copper's three-month contract price dropped 0.38% to $7,194.50 per tonne this morning. As concerns over supply disruption ease, the red metal prices have been subdued since the st...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Wednesday June 13, the exception being lead which was up by 0.2%. The rest were weaker with copper, aluminium, nickel and zinc off between 0.4% and 0.6%, with copper at $7,176 per tonne, while tin was down by 1.2%. Volume has been average with 10,155 lots traded as at 9.38 am London time. Th...Read More
Premiums for 99.97% lead ingots hit a 2018 high in India due to continued spot market tightness after Iran's currency issue, while European and Southeast Asian lead premiums were unchanged in the week to Tuesday June 12, covered by long-term contracts. Premiums for 'three-nines' lead ingots hits record high in India after Iran restricted exports London Metal Exchange zinc cash/three-month price ba...Read More
UK ferrous scrap prices for monthly deliveries to consumers in June have been rolled over for a second month, trade sources told Metal Bulletin this week.A late flurry in Turkish demand, added to steady demand from Asia and the effects of exchange-rate movements, bolstered the UK market, they added.The market had initially looked as if prices would drop by ?5-10 per tonne at the start of negotiat...Read More
Turkish deep-sea scrap import prices increased on Wednesday June 13, with mills resuming purchases from the Baltic Sea region.A steel mill in the Marmara region booked a 40,000-tonne Baltic Sea cargo, comprising HMS 1&2 (80:20) at $344.50 per tonne and bonus scrap at $354.50 per tonne cfr late on Tuesday June 12. However, the cargo breakdown was not clear at the time of publication.On Wednesd...Read More
Comex copper prices recovered during trading on Wednesday June 13, with the dollar softening ahead of the Federal Reserve's decision whether to raise interest rates.Copper for July settlement on the Comex division of the New York Mercantile Exchange rebounded by 0.65 cents or 0.2% to $3.2560 per lb. Meanwhile, Glencore-owned copper producer Katanga Mining has settled its legal dispute in the...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Wednesday June 13, the exception being lead which was up by 0.2%. The rest were weaker with copper, aluminium, nickel and zinc off between 0.4% and 0.6%, with copper at $7,176 per tonne, while tin was down by 1.2%. Volume has been average with 10,155 lots traded as at 9.38 am London time. Th...Read More
Key suppliers of hot rolled (HR) and cold rolled (CR) steel sheet to Russia's Central region around Moscow have reduced their prices because of the weak secondary market, Metal Bulletin was told this week.Metal Bulletin's weekly assessment of the price for Russia-origin 4mm HR sheet was 44,700-44,900 roubles ($711-714) per tonne cpt Moscow on Wednesday June 13, including VAT. This was down from 46...Read More
European buyers of cold rolled coil (CRC) have been in "wait-and-see" mode ahead of a preliminary decision in a regional safeguard case, sources told Metal Bulletin on Wednesday June 13.The European Commission (EC) is expected to impose preliminary safeguard measures on steel imports in early July.The commission opened the investigation in late March, in an attempt to prevent the redirection to th...Read More
Domestic prices for hot rolled coil (HRC) in Southern Europe have moved down over the past week due to limited trading activity, sources told Metal Bulletin on Wednesday June 13.Demand for coil in Southern Europe remained weak, although some sources noted a degree of pickup in buying activity. Competition between the region's distributors was reported to be tough.Metal Bulletin's price assessment...Read More
Severstal and Novolipetsk Steel (NLMK), two of the largest rebar suppliers to Russia's Central region, cannot increase their rebar prices despite this being the peak of the construction season, sources told Metal Bulletin on Wednesday June 13.The reasons they give are the unexpected weakness in the secondary market and the lower offers heard from "alternative suppliers.""[Traders] are now selling...Read More
Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe have gone unchanged over the past week, sources said on Wednesday June 13.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Northern Europe was unchanged on Wednesday at ?,?535-545 ($630-641) per tonne delivered."There has been no change in prices this week, but we hav...Read More
Prices for rebar produced and delivered in Southern Europe have widened downward by a further ?,?5 per tonne over the past week, with Italian mills lowering their offers, sources told Metal Bulletin on Wednesday June 13.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe was ?,?475-500 ($559-588) per tonne delivered on Wednesday, down from ?,?480-500 per tonne on June 6....Read More
UK ferrous scrap prices for monthly deliveries to consumers in June have been rolled over for a second month, trade sources told Metal Bulletin this week.A late flurry in Turkish demand, added to steady demand from Asia and the effects of exchange-rate movements, bolstered the UK market, they added.The market had initially looked as if prices would drop by ?5-10 per tonne at the start of negotiat...Read More
Turkish deep-sea scrap import prices increased on Wednesday June 13, with mills resuming purchases from the Baltic Sea region.A steel mill in the Marmara region booked a 40,000-tonne Baltic Sea cargo, comprising HMS 1&2 (80:20) at $344.50 per tonne and bonus scrap at $354.50 per tonne cfr late on Tuesday June 12. However, the cargo breakdown was not clear at the time of publication.On Wednesd...Read More
Iron ore lump premiums spiked on Wednesday June 13 amid expectations of limits being imposed on sintering activity in parts of China to cut pollution.Metal Bulletin 62% Fe Iron Ore Index: $67.02 per tonne cfr Qingdao, down by $0.21 per tonneMetal Bulletin 58% Fe Premium Index: $54.19 per tonne cfr Qingdao, down by $0.10 per tonneMetal Bulletin 65% Fe Iron Ore Index: $88.50 per tonne cfr Qingdao, u...Read More
The export price for steel billet from Iran picked up in the seven days that ended on Wednesday June 13, with new bookings reported at higher prices.Metal Bulletin's weekly price assessment for Iranian export billet was $505 per tonne fob on June 13, up by $5-10 per tonne week-on-week.Several cargoes of Iran-origin July-rolling billet were reported sold to Egypt and Southeast Asia at $505 per tonn...Read More