Earnings at Brazilian copper products producer Paranapanema returned to a positive figure in the fourth quarter of 2017 amid the company's continuing process of operational recovery.The company reported earnings before interest, taxes, depreciation and amortization (Ebitda) of 20.1 million Reais ($6.18 million) in the last quarter of 2017.This compared with a loss of 15.1 million Reais a year earl...Read More
Comex copper prices bounced back on Thursday February 8 after crashing to a multi-week low the day before, with investors still upbeat on global growth prospects for 2018. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.00 cents or 0.3% to $3.0975 per lb. Yesterday, the metal touched $3.1060, the weakest since January 23. "Downside prices risks are like...Read More
Good morning from Metal Bulletin's London office; we bring you the latest news and pricing stories on Thursday February 8.Base metals on the London Metal Exchange were largely lower pushed down this morning by fresh deliveries and a stronger dollar. The copper price was dented by another large delivery into LME-listed warehouses today. 25,950 tonnes were delivered in across Busan, Port Klang...Read More
Base metals prices on the London Metal Exchange were mostly in negative territory once again during morning trading on Thursday February 8, with nickel dropping back below $13,000 per tonne. The three-month nickel price has now plummeted 7.2% since it hit $14,000 per tonne last Thursday. The recovery in the dollar has put pressure on prices; most recently it was trading 0.32% higher at 90.55 - the...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday February 8*Copper -$49.63 (-315.08 yuan) Aluminium -$461.19 (-2,928.05 yuan) Zinc -$96.09 (-610.05 yuan) Nickel -$296.59 (-1,883.05 yuan) *The physical arbitrage numbers...Read More
Chinese imports of copper metal and concentrates saw double-digit growth on an annual basis in the first month of 2018 on a profitable arbitrage and restrictions on copper scrap imports, preliminary Chinese customs data showed. China imported 1.62 million tonnes of copper ore and concentrates in January, up 24.9% year on year. Meanwhile, imports of unwrought copper and copper fabricated products i...Read More
Import rebar prices in the United States have edged higher since mid-January, but domestic prices are flat from three weeks ago while supply appears tight following an accepted $40-per-ton increase, market participants said.American Metal Market's assessment for import rebar cfr Houston narrowed up to $572-576 per ton from $562-576 per ton on January 17. Meanwhile, the fob mill asse...Read More
European steel association Eurofer is worried that the definitive anti-dumping duties set today on imports of corrosion-resistant steel from China will not stop shipments of dumped material, it said on Thursday February 8.The European Commission (EC) set the duties in the range of 17.2-27.9% on corrosion-resistant steel products - notably, hot-dipped galvanized coil (HDG) - earlier on Thursday.Alt...Read More
The European Commission (EC) has set definitive anti-dumping duties to last for five years on imports of certain corrosion-resistant steels from China - notably, hot-dipped galvanized coil (HDG) - at rates of 17.2-27.9%.The decision was announced in the Official Journal of the EU on Thursday February 8, and will come into force on February 9.The duty was determined at 17.2% for companies in the Sh...Read More
Turkish imported billet prices have gone down slightly over the past week, while domestic and export prices remained stable, sources said on Thursday February 8.The Turkish customers slowed their demand for CIS-origin billet after booking a few cargoes at $505 per tonne cfr.The CIS suppliers then reduced their...Read More
Turkish rebar and wire rod export prices have advanced over the past week on strengthening demand, sources told Metal Bulletin on Thursday February 8.A number of Turkish steel mills were heard selling rebar to North America, the EU, Asia and Africa this week.The rebar sales into the United States and Canada were done at $625-630 per tonne cfr theoretical weight, equivalent to around $550-560 per t...Read More
Renewed demand in the European molybdic oxide and ferro-molybdenum markets has pushed prices higher this week after dipping the week before when slower demand encouraged profit-taking, sources told Metal Bulletin. Metal Bulletin assessed molybdic oxide prices at $12.10-12.50 per lb in-warehouse Rotterdam on Wednesday February 7, up 50 cents from Friday. The market was assessed at $9.80-9.90 p...Read More
Indian miner Vedanta Resources is "assessing the financial and operational impact" of the Indian Supreme Court's decision to cancel all iron ore mining leases in the southern state of Goa with effect from March 16 this year.Vedanta will be able to continue its mining operations in Goa until March 15, it added in a statement to the London Stock Exchange on Wednesday February 7.A total of 88 mining...Read More
Iron ore prices stayed firm above $77 per tonne cfr China on Thursday February 8 amid expectations that demand for high-grade fines would be sustained by a focus on environmental protection in China. Metal Bulletin's 62% Fe Iron Ore Index Today: $77.32 per tonne cfr Qingdao Daily change: up by $0.12 per tonne Month-to-date average: $75.57 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61....Read More
Buying interest for seaborne coking coal remains firm despite the Chinese New Year being just a week away. A cargo of premium low-vol hard coking coal was heard to have traded around $235 per tonne cfr China late on Thursday February 8. This is the second transaction heard this week that was concluded above $230 per tonne cfr China."The market is well supported as Chinese buyers are showing a lot...Read More
The seaborne iron ore market remained firm on Thursday February 8 with demand for high-grade fines expected to be sustained by the Tangshan government making environmental protection a key focus for the city.Key drivers Local authorities north China's Tangshan have set up a special committee to focus on environmental protection in the region. With this, market participants are expecting measures t...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 transaction: iron oreIron oreBHP, Beijing Iron Ore Trading Center, 90,000...Read More
Cobalt and lithium consumers are prepared to help fund projects into production by prepaying for material amid projected strong demand from the electric vehicles market, according to Cape Lambert director Stefan M? 1/4 ller. Pricing power is in the hands of producers, while consumers have underestimated how tight cobalt and lithium supply will become, M? 1/4 ller told Metal Bulletin on the sidelin...Read More
Selenium prices moved up this week reaching its highest since May 2017 on continued material tightness and healthy appetite from Asian consumers. Metal Bulletin's selenium free market in-warehouse price rose to $19-21.50 per lb on Wednesday February 7, an increase of 2.5% from the previous assessment to a level last seen in May 2017. "The market is really heading up," a trader in Europe said....Read More
Base metals traded on the London Metal Exchange are little changed this morning, Thursday February 8, with copper (+0.5%) and zinc (+0.5%) the only metals in positive territory, while the rest are under slight downward pressure. Volume remains healthy, however, with 18,941 lots traded as of 07.16 am London time.The base metals complex seems to be undermined by a more pronounced appreciation in the...Read More