A predicted deficit in the copper concentrates market could be exacerbated, with mining companies facing ever greater hurdles to bring new projects on stream, according to panellists at the Metal Bulletin Copper Conference.The copper market has for years experienced declining ore grades at major mines, and this combined with consistent demand growth could lead to deficits in the coming years, acco...Read More
Metal Bulletin proposes to make the South Korean cif and fca P1020 aluminium premiums duty-free only to better reflect current market conditions.The current assessments - Aluminium P1020 cif South Korea and Aluminium P1020 fca South Korea - include both duty-free and non-duty free aluminium. Metal Bulletin proposes to only include in both assessments aluminium which can be imported into South Kore...Read More
The Chilean government has started an anti-dumping case against rebar imports from Mexico, according to a document made public on Friday March 9. The country's anti-price distortion commission will analyze imports of rebar from Mexico from January to December 2017.In 2015, Chile launched an anti-dumping probe into rebar imports from Mexico, resulting in anti-dumping duties of...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.All eyes this week were on US President Donald Trump's decision to confirm his previously announced tariffs of 25% on steel imports and 10% on aluminium imports into the US.Metal Bulletin's team has extensively analyzed the likely effects on the global steel market of the trade action signed off under t...Read More
Import prices for flat steel goods in the South American market edged up this week, driven by higher hot-rolled coil (HRC) values."HRC is always the first [product] to feel the effects of higher slab costs," a trader said.Metal Bulletin's weekly price assessment for HRC imports into South America was $660-670 per tonne on Friday March 9, up from last week's $650-660 per tonne cfr.China-origin...Read More
European steel association Eurofer has condemned the decision by US President Donald Trump to set import tariffs on steel and aluminium as being "damaging and counterproductive for both the US and EU economies."Trump set blanket tariffs of 25% on steel imports and 10% on aluminium imports on Thursday March 8. They were announced last week as a response to the Section 232 investigation into the nat...Read More
Indian mills have raised their offer prices for exports of commercial-grade hot-rolled coil (HRC) by at least $10 per tonne to $670-675 per tonne fob Indian ports, compared with bookings achieved about a week ago at $660-665 per tonne fob Indian ports.But the mills have not been able to achieve HRC export bookings after raising their export offers, market participants said."We have not booked HRC...Read More
Key data from Metal Bulletin's Wednesday March 7 pricing session in China.Molybdenum concentrate Metal Bulletin Chinese free market, 45% Mo, in-warehouse China, RMB per mtu Key drivers- Supply is tight on earlier plant turnarounds conducted by major miners.- Recent surge in Chinese exports for January 2018 further underpins supply tightness.-...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday March 9:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.90-13.10 per lb from $13.00-13.20 Molybdenum US canned molybdic oxide, $/Ib $13.00-13.10 per Ib from $12.90-13.10 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $30.80-31.40 per kg from $30.80-31.80 Ferro-molybdenum US 6...Read More
A steady increase in ferrous scrap demand to key destinations such as Turkey and the Indian subcontinent from Europe has pulled up prices for light iron, grade-5C steel scrap in the United Kingdom this week, sources told Metal Bulletin on Friday March 9.The UK light iron scrap market has now moved up for four weeks in a row.Metal Bulletin's price assessment for UK grade-5C ferrous scrap on an inte...Read More
Prices for shredded scrap imported in containers into India have increased for the fifth week running, supported by good demand and robust international scrap markets, sources told Metal Bulletin on Friday March 9.But certain market sources said that the market could stop rising over the next seven days, with Indian finished steel prices struggling amid a drop in Chinese rebar prices and worries o...Read More
Export prices for CIS-origin pig iron have gone up again amid further growth in the scrap and flat steel products markets, Metal Bulletin has heard.Metal Bulletin's export price assessment on Thursday March 8 for high-manganese pig iron from the CIS region was $350-375 per tonne fob Black Sea, widening upward by $10 per tonne week on week.A deal was heard in Turkey for Ukraine-origin pig iron at $...Read More
Turkish scrap import prices inched lower on Friday March 9 on news of a fresh trade. A steel mill in the Marmara region of Turkey booked a Baltic Sea cargo late on Thursday March 8, comprising 28,000 tonnes of HMS 1&2 (80:20) at $375.25 per tonne and 7,000 tonnes of bonus at $385.75 per tonne cfr. Metal Bulletin's daily index for Northern European HMS 1&2 (80:20)...Read More
Export prices for Brazilian pig iron were unchanged this week, as suppliers refused to accept low-priced bids."US buyers tried to book some volumes at cheap prices, but came back home empty-handed," a Brazil-based source said. "They asked for a very low price, so we didn't close a deal," a second market participant said. "Also, demand in the Brazilian domestic market is quite good and we are able...Read More
Physical iron ore prices fell below the $70-per-tonne-cfr mark on Friday March 9 amid persistent losses in China's steel and futures markets.Key driversChina's ferrous futures recorded across-the-board losses for a third day. The benchmark iron ore contract continued to be the worst performer, with a 5.2% decline in comparison with the settlement price on Thursday. The contract closed at a 3.5-mon...Read More
Prices in the seaborne coking coal market gained more downward momentum on Friday March 9, with the number of offers continuing to outpace bids. "Sellers have visibly softened their attitude toward the prices of their cargoes since it is difficult to prop them up based on just the sole factor of the weather," an East Asian end-user source said. Although there are still "two to three more weeks to...Read More
The three-month nickel price on the London Metal Exchange recovered $100 per tonne in morning trading on Friday March 9, supported by a large cancellation of stocks at LME-listed warehouses.Some 29,244 tonnes of nickel was freshly cancelled - with the majority of it in Johor - which helped push the three-month price higher after two days of declines. "Nickel has a rather bullish fundamental backdr...Read More
Deliverable copper stocks at Shanghai Futures Exchange-approved warehouses rose for a sixth consecutive week in the week to Friday March 9, while nickel and tin inventories declined.Copper stocks increased 7,808 tonnes to 268,095 tonnes this week, up 3% from the 260,287 tonnes recorded on March 2. Stocks are now up 67% since the beginning of the year. Zhongchu Wusong warehouse in Shanghai saw the...Read More
China's hot-rolled coil prices fell further ahead of the weekend after the paper market tumbled.DomesticEastern China (Shanghai): 3,930-3,960 yuan ($620-625) per tonne, down by 70 yuan per tonneNorthern China (Tianjin): 3,890-3,910 yuan per tonne, down by 50 yuan per tonneChina's ferrous futures plunged with the outlook for the market becoming more bearish after United States President Donald Trum...Read More
Daniel Hisshion has left his role as Asian sales director and strategic supply director at 5N Plus, Metal Bulletin has learned.His last day at the company was March 7, 2018. At 5N Plus, Hisshion was in charge of raw material supply of selenium, tellurium, bismuth and indium, and the...Read More