Turkish steel producers continued to book deep-sea scrap at the end of this week after being offered lower prices earlier in the week, sources said on Friday May 18.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $345 per tonne and bonus at $355 per tonne cfr, for a spot shipment. The composition of the cargo was not clear...Read More
Prices for containerized shredded scrap imports into India dropped again this week with buying activity remaining low, market sources told Metal Bulletin on Friday May 18.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $382.31 per tonne cfr Nhava Sheva on May 18, down $3.63 per tonne from $385.94 per tonne cfr Nhava Sheva last week, and averaged $384 per to...Read More
Export prices for Brazilian pig iron materials have shown differing trends in mid-May, with the local market maintaining strong demand levels.Metal Bulletin's weekly price assessment for Caraj??s-origin pig iron edged down to $395-400 per tonne fob on Friday May 18, from last week's $400-405 per tonne fob.At least one deal involving pig iron produced in the northern Caraj??s region was made with b...Read More
Physical iron ore prices weakened on Friday May 18 in line with drops in the rebar and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $66.92 per tonne cfr Qingdao, down by $0.57 per tonne Metal Bulletin 58% Fe Premium Index: $54.42 per tonne cfr Qingdao, down by $0.14 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.80 per tonne cfr Qingdao, down by $0.60 per tonne Metal Bulletin 62% Fe...Read More
A widening gap between bids and offers is keeping the seaborne coking coal market deadlocked. Market sources said on Friday May 18 that a miner was offering a cargo of premium low-vol hard coking coal with a late-July laycan via a tender that was to have been concluded at 6pm Singapore time, which is beyond the 5.30pm cut-off time for data collection for Metal Bulletin's daily coking coal indices....Read More
China's domestic hot-rolled coil prices stopped rising on Friday May 18 after trading activity declined amid weak futures. Domestic Eastern China (Shanghai): 4,250-4,270 yuan ($667-671) per tonne, unchanged Northern China (Tianjin): 4,090-4,110 yuan per tonne, unchanged Buyers slowed down their procurement rates ahead of the weekend on seeing the weakness in the futures market. Sellers on the othe...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Friday May 18*Copper -$94.96 (-606.18 yuan) Aluminium -$494.57 (-3,157.08 yuan) Zinc -$34.20 (-218.35 yuan) Nickel -$638.98 (-4,078.95 yuan) *Metal Bulletin calculates the physical arbitrage for import into China...Read More
All base metal stocks at Shanghai Futures Exchange-approved warehouses were lower week on week on Friday May 18, with deliverable copper stocks slipping 3.9% or 11,021 tonnes over the week to 268,504 tonnes. This week, 830 Huangpu in Guangdong recorded the most copper stock withdrawals with 6,325 tonnes leaving its sheds. The decrease this week reverses two consecutive weeks of increases wh...Read More
Base metals prices on the London Metal Exchange were diverging on the morning of Friday May 18.The main movers were nickel, which climbed 1%, and aluminium, which dropped 0.6%. Zinc prices are down 0.3% while the rest are little changed, with copper prices at $6,869 per tonne.Volume on the LME has been below average, with 3,276 lots traded as at 06.46 am London time. This follows a mixed performan...Read More
Strategic & Precious Metals Processing (SPMP) has named Steven Din, the head of a Vedanta Resources subsidiary, as its new chief executive with effect from August 1, SPMP's parent company, Tri-Star Resources, said on Friday May 18. Tri-Star has a 40% equity interest in SPMP, which is constructing an antimony and gold processing facility in Oman. Din is currently CEO of Konkola Copper Mines, which...Read More
The following Metal Bulletin minor metals prices changed on Friday May 18:Minor metals Antimony MB free market regulus, $/tonne: $8,100-8,400 per tonne from $8,050-8,350 Bismuth MB China domestic, yuan/tonne: 65,500-67,000 yuan per tonne from 65,500-68,000 yuan Cobalt MB free market high grade, $/lb: $42.85-44.00 per lb...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An overview of China's minor metals markets in the week of May 14-18 and the reasons for any price moves.Read More
Zhejiang Huayou Cobalt's clients in the automaking sector were satisfied with the due diligence of its supply chain during their recent visit to the Chinese cobalt producer's mining operations in the Democratic Republic of Congo (DRC), a company representative told delegates attending LME Week Asia on Thursday. "Some leading automakers went there to carry out their own assessments, and they told u...Read More
Flat stainless steel product prices in Europe fell this week amid high stock levels at warehouses and continued import pressure, sources told Metal Bulletin on Friday March 18.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern Europe fell by ?,?35-50 per tonne week on week to ?,?1,015-1,050 ($1,198-1,239) per tonne delivered on Frida...Read More
China's ferrous futures generally trended downward during morning trading on Friday May 18.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,628 yuan ($570) per tonne, down 37 yuan per tonne October hot-rolled coil: 3,804 yuan per tonne, down 31 yuan per tonne Dalian Commodity Exchange September iron ore: 477.50 yuan per tonne,...Read More
China's domestic stainless steel prices maintained their upward trend on a decrease in spot market inventory and good demand from end-users. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,900-15,200 yuan ($2,340-2,387) per tonne including VAT for the week ended Thursday May 17, up 100-200 yuan per tonne...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday May 18:Aluminium ingot Duty paid delivered works pressure diecasting ingot...Read More
Import prices for containerized heavy melting scrap (HMS) in Taiwan have widened upward this week on stable buying among end-users.Metal Bulletin's assessment of import prices for United States-origin HMS 1&2 (80:20) sold into Taiwan was $340-350 per tonne cfr for the week ended Friday May 18, up $5 per tonne on the high end from a week earlier.US-origin scrap was offered at $350 per tonne cfr Tai...Read More
NICKEL TIPS TOMORROWNickel Tips – BUY 2 lot Nickel Today at between 989.30 – 990.30 (CMP 989.30) for Tomorrow Target Level 999 – 1006 with SL below price 979AFTER POST CONTENT Read More