The stainless steel scrap market in the United States was stalled this week, with prices for nickel, chrome and iron all largely holding steady. "Prices have strong headwinds," according to one processor source, who also indicated that third-quarter chrome prices could collapse."I am seeing a little weakening in prices, even with nickel slightly better today," one dealer source said."Most processo...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreRio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara Blend fines, sold...Read More
The price gap between seaborne cargoes of Brazilian Blend fines and Pilbara Blend fines widened further on Wednesday May 16 amid a mixed market.Metal Bulletin 62% Fe Iron Ore Index: $68.03 per tonne cfr Qingdao, up by $0.75 per tonne Metal Bulletin 58% Fe Premium Index: $54.56 per tonne cfr Qingdao, unchanged Metal Bulletin 65% Fe Iron Ore Index: $86.20 per tonne cfr Qingdao, down by $0.10 per ton...Read More
Participants continued to tread carefully in the seaborne coking coal spot market on Wednesday May 16. A 90,000-tonne cargo of premium mid-vol material, with a May 15-24 laycan, was transacted this week at $192 per tonne cfr China to a northern Chinese end user. "Sellers and end users are still in a deadlock and it seems $190 per tonne cfr China could be...Read More
China's ferrous futures fluctuated during morning trading on Wednesday May 16, before experiencing a spike in the last ten minutes before the end of the session.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,689 yuan ($580) per tonne, up 14 yuan per tonne October hot-rolled coil: 3,834 yuan per tonne, up 41 yuan per tonne Dalian Commodity Exchange September iro...Read More
The lower revenues from reduced London Metal Exchange trading fees - seen when HKEX, the exchange's owner, published its first-quarter results last week - is unsurprising and should not be a cause for mutterings at the current LME Asia Week gathering in Hong Kong. First-quarter revenue from HKEX' commodities business was down 7% from a year earlier - despite a 20% year-on-year jump in average dail...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday May 16*Copper -$84.52 (-539.56 yuan) Aluminium -$552.40 (-3,526.52 yuan) Zinc -$25.53 (-162.96 yuan) Nickel -$522.59 (-3,336.19 yuan) *Metal Bulletin calculates the physical arbitrage for import into...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Most of the base metals prices on the London Metal Exchange were little changed on the morning of Wednesday May 16, the exceptions were zinc (+0.6%) and tin (-0.5%). Copper was up by 0.1% at $6,818 per tonne.Volume on the LME has been below average, with 3,245 lots traded as at 06.27 am London time. This follows a day of two halves on Tuesday where prices came under pressure as the morning progres...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday May 16:Aluminium scrap Group 1 pure 99% & litho: ?1,420-1,460 per tonne from ?1,400-1,440 Commercial...Read More
Salzgitter expects its earnings to rise in 2018 despite "strained market conditions," the German steelmaker said in its first-quarter results published on Tuesday May 14.The company expects volatility in raw materials prices as well as "massive distortions of competition in countries outside the EU, and sustained import pressure and foreign policy developments," it said.Salzgitter raised its full-...Read More
The lower revenues from reduced London Metal Exchange trading fees - seen when HKEX, the exchange's owner, published its first-quarter results last week - is unsurprising and should not be a cause for mutterings at the current LME Asia Week gathering in Hong Kong. First-quarter revenue from HKEX' commodities business was down 7% from a year earlier - despite a 20% year-on-year jump in average dail...Read More
The lower revenues from reduced London Metal Exchange trading fees - seen when HKEX, the exchange's owner, published its first-quarter results last week - is unsurprising and should not be a cause for mutterings at the current LME Asia Week gathering in Hong Kong. First-quarter revenue from HKEX' commodities business was down 7% from a year earlier - despite a 20% year-on-year jump in average dail...Read More
The lower revenues from reduced London Metal Exchange trading fees - seen when HKEX, the exchange's owner, published its first-quarter results last week - is unsurprising and should not be a cause for mutterings at the current LME Asia Week gathering in Hong Kong. First-quarter revenue from HKEX' commodities business was down 7% from a year earlier - despite a 20% year-on-year jump in average dail...Read More
Nickel Carry Call – SELL Nickel at CMP 989.50 for Target Tomorrow 981 – 971 with SL Above price 1004AFTER POST CONTENT Read More
FREE ZINC HOLD TIPSZinc Hold – Zinc BUY Hold Call 7f7 given at price 206.55 (207.10+206) Achieved 1st Target 209.80 (Made 209.85 today) Total profit of 3.25 Points per lot7f7 : Zinc Hold Calls - RISK taker BUY Zinc at CMP 207.10 Add more if price 206 with SL below price 204.80 for Target 209.80 - 210.80 (Hold upto Result)AFTER POST CONTENT Read More
Aluminium Commodity – Aluminium BUY Call 8a7, given at price 158 Achieved 1st Target 159. CMP 159.20. Total 1.2 x 2 lot = 2.4 Points profitCALL ID 8a7 : Aluminium Trading - BUY Aluminium at CMP 158 for Target 159 - 159.80 with SL below price 156.90AFTER POST CONTENT Read More
Today Nickel Call – Nickel BUY Call 8a8 given at 971 Achieved 2nd Target 986 (Made 988) Total profit of 15 Points per lot8a8 : BUY again at CMP 971 for Target 979 - 986 with SMALL SL 976AFTER POST CONTENT Read More
Aluminium Trading – Aluminium Buy call 8a7 given at price 158 CMP 158.80. Total profit of 0.8 x 2 lot = 1.6 Points at CMPTIPS ID 8a7 : Aluminium Trading - BUY Aluminium at CMP 158 for Target 159 - 159.80 with SL below price 156.90AFTER POST CONTENT Read More
The re-introduction of U.S. sanctions against Iran will have a limited impact on the Iranian mining and metals industry, according to BMI Research. Sanctions will do “little additional damage to an industry already crippled by a myriad of domestic operational challenges,” BMI Research says. According to a recent report, foreign entities are already avoiding the country when it comes to...Read More