Prices for light iron, grade-5C steel scrap from the United Kingdom were largely unchanged this week, with buyers continuing to secure satisfactory volumes of material and paying current market prices, sources told Metal Bulletin on Friday February 16.The key scrap export markets in Turkey and India strengthened this week, but the knock-on effect to the UK grade-5C market has been limited so far,...Read More
The latest metal markets news and price moves to start the North American day on Friday February 16.Base metals prices on the London Metal Exchange were mostly higher during morning trading with prices holding firm near fresh 2018 high levels.The three-month copper price has rallied back above $7,200 per tonne with the rally underpinned by a weaker dollar - the dollar index is now back...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsZinc prices on the London Metal Exchange have climbed 23.6% over the last 12 months, with the galvanizing metal firmly in a bull market and continuing to set fresh multi-year highs this week. A widening contango in forward price spreads on the LME is contributing to bullish...Read More
Metals prices on the London Metal Exchange are up across the board this morning, Friday February 16, by an average of 0.4%, while trading activity has been light due to the Lunar New Year holiday. Lead prices are up by the most in percentage terms, with a 0.7% rise, followed by aluminium (0.6%) copper (0.4%) at $7,217 per tonne, with nickel and tin prices up 0.35 and zinc little changed. With the...Read More
Zinc prices on the London Metal Exchange have climbed 23.6% over the last 12 months with the galvanizing metal firmly in a bull market and continuing to set fresh multi-year highs. It has been the best performing base metal on the London Metal Exchange since 2016. Prices climbed to $3,595.50 per tonne on Thursday February 15 - the highest since July 2007. "Last year, no one imagined prices could g...Read More
A widening contango in forward price spreads on the London Metal Exchange is contributing to bullish bids on miners' copper concentrate sales to traders.Copper concentrate treatment and refining charges (TC/RCs) subsided this week, with the Metal Bulletin index dropping 3% to $69.5 per tonne/6.95 cents per lb on Thursday February 15 in a week where smelter buying terms were largely stagnant.&...Read More
The three-month aluminium price rallied 2% to a two-week high on the London Metal Exchange at the close on Friday February 16, with spreads moving into a significant backwardation.The latest rally comes as news breaks that the US Department of Commerce has advised President Trump on tariffs on aluminium and steel. Secretary Ross has recommended three possible tariffs to President Trump: A tariff o...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsZinc prices on the London Metal Exchange have climbed 23.6% over the last 12 months, with the galvanizing metal firmly in a bull market and continuing to set fresh multi-year highs this week. A widening contango in forward price spreads on the LME is contributing to bullish...Read More
Zinc prices on the London Metal Exchange have climbed 23.6% over the last 12 months with the galvanizing metal firmly in a bull market and continuing to set fresh multi-year highs. It has been the best performing base metal on the London Metal Exchange since 2016. Prices climbed to $3,595.50 per tonne on Thursday February 15 - the highest since July 2007. "Last year, no one imagined prices could g...Read More
The three-month aluminium price rallied 2% to a two-week high on the London Metal Exchange at the close on Friday February 16, with spreads moving into a significant backwardation.The latest rally comes as news breaks that the US Department of Commerce has advised President Trump on tariffs on aluminium and steel. Secretary Ross has recommended three possible tariffs to President Trump: A tariff o...Read More
US Secretary of Commerce Wilbur Ross has recommended a series of import tariffs, in addition to existing duties in place, after compiling a report on the industry. - One tariff proposed includes at least 7.7% on all aluminium exports from all countries. - A second tariff proposed includes 23.6% on all products from China,...Read More
Nexa Resources, formerly Votorantim Metais, reported a strong earnings increase in the fourth quarter of 2017, mostly due to higher zinc, copper and lead prices.Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $222.5 million, against $27.4 million a year before, the Brazilian-based miner said late on Thursday February 15. That increase is "mostly as a r...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsZinc prices on the London Metal Exchange have climbed 23.6% over the last 12 months, with the galvanizing metal firmly in a bull market and continuing to set fresh multi-year highs this week. A widening contango in forward price spreads on the LME is contributing to bullish...Read More
Brazilian miner Vale reported lower nickel production in the fourth quarter of 2017, mainly due to a decline in output from its Canadian and Indonesian operations.Output totaled 78,000 tonnes, down from 83,000 tonnes of finished nickel in the corresponding quarter of 2016, the company said on Friday February 16.The three-month nickel price on the London Metal Exchange was above $14,000 per tonne o...Read More
Vale's finished copper production declined 6% year on year in the fourth quarter of 2017 due to lower output from its Canadian operations, the diversified miner said on Friday February 16. It produced 113,500 tonnes in the October-December quarter of 2017, from 120,700 tonnes in the corresponding period of 2016. The drop in production was the consequence of lower volumes from Vale's operations in...Read More
Zinc prices on the London Metal Exchange have climbed 23.6% over the last 12 months with the galvanizing metal firmly in a bull market and continuing to set fresh multi-year highs. It has been the best performing base metal on the London Metal Exchange since 2016. Prices climbed to $3,595.50 per tonne on Thursday February 15 - the highest since July 2007. "Last year, no one imagined prices could g...Read More
Comex copper prices were trading at their highest point since mid-January on Friday February 16 morning in the US, with solid US data offsetting a rising dollar.Copper for March settlement on the Comex division of the New York Mercantile Exchange gained 1.20 cents or 0.4% to $3.2575 per lb. Earlier, the contract touched $3.2720 per lb, the highest since January 16.At last glance, the dollar index...Read More
The Brazilian steel institute, A??o Brasil, will make a second trip to the United States to demand that the country be excluded from any measures related to the US Section 232 investigation into steel imports. An official visit for executives from Brazilian steel companies and institute members to meet members of the US Congress, White House officials and participants of the US steel and coal indu...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.The break in some markets to celebrate the Chinese lunar new year has driven commodity prices this week.Metal Bulletin's 62% Iron Ore Index increased to $78.43 per tonne cfr on Thursday, while Metal Bulletin's fob Australia indices for coking coal were flat at $229.57 per tonne for premium hard coking c...Read More
Metals industry equipment supplier Primetals Technologies has appointed Satoru Iijima its chief executive officer and board chairman, to take office on April 1 this year, it said on Friday February 16.Iijima, who was previously CEO of Primetals Technologies' subsidiary in the United States, will replace Yasukuni...Read More