Rising profitability among Chinese mills is fueling demand for high-grade iron ore, which gave prices a boost on Wednesday February 7. Metal Bulletin's 62% Fe Iron Ore Index Today: $77.20 per tonne cfr Qingdao Daily change: Up by $1.28 per tonne Month-to-date average: $75.22 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61.84 per...Read More
Seaborne iron ore prices continued to strengthen on Wednesday February 7 with a few high-grade brands changing hands at higher levels, while some uncertainties have emerged over exports out of India.Key driversChinese steelmakers are again seeking high-grade iron ore such as Newman and Carajas fines amid a widening of their profit margins and expectations of a possible extension of winter restrict...Read More
Copper premiums in the United States and China were broadly unchanged over the past week, while those in northern Europe softened amid lower offer prices from sellers. Lower offer prices sink northern European premiumsUS copper premium steady, potential near-term rise eyedShanghai premiums broadly flat ahead of Lunar New Year holidays Copper premiums eased lower in northern Europe this past...Read More
Base metals prices on the London Metal Exchange plunged at the 5pm ring close on Wednesday February 7 amid a strong recovery in the dollar leading to copper prices plummeting 2.4%. The three-month copper price declined $196 to close below $7,000 per tonne, hitting a new 2018 low and the lowest since December 19, 2017. "The open of the Chinese night session and Comex saw renewed pressure across the...Read More
Miners all too often lack a clear purpose and fail to approach investments with the appropriate due diligence, a method that drives shareholder returns lower, according to the chairman of Norilsk Nickel.Average total shareholder returns of the major miners are down 32% over the last five years, Gareth Penny said, noting that there is more to the situation than just a cyclical market. "As a mining...Read More
Brazil's alumina export volumes inched up in January from a year earlier, with higher volumes to North America and Qatar offsetting the lack of shipments to South Africa and the United Arab Emirates.Exports came to 861,336 tonnes last month, from 839,283 tonnes in January 2017, Brazilian foreign trade ministry MDIC said on Wednesday February 7. In December, Brazil had exported 781,366 tonnes...Read More
Brazil's primary aluminium exports increased by 43.89% year on year in January, boosted by shipments to Mexico, according to figures released by national foreign trade ministry MDIC on Wednesday February 7.Exports totaled 23,307 tonnes last month, up from 16,198 tonnes a year earlier, MDIC said. In December, Brazil had exported 19,489 tonnes of unwrought aluminium.Only two primary aluminium p...Read More
A rise in demand from the mining sector has led to a year-on-year improvement in the earnings of Swedish engineering group Sandvik, the company said this week.Increased customer activity was primarily related to mining in the commodities of gold, silver, copper and zinc, while signs of improvement were noted in coal, Sandvik said, with the largest rise in order intake being in Australia.Revenues a...Read More
The merger between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia is expected to be concluded by April, ArcelorMittal Long Carbon Central & South Americas chief executive officer Jefferson de Paula told Metal Bulletin on Wednesday February 7.The deal will make the combined venture the sector leader in Brazil and will enable it to expand its product portfolio, he added."Th...Read More
Brazilian long steel import volumes increased by 73.10% in January on an annual basis.Imports of non-alloy long steel goods came to 20,886 tonnes, compared with 12,066 tonnes in the first month of 2017, according to figures released by Brazil's foreign...Read More
Brazilian flat steel import volumes fell by 4.71% year-on-year in January, due to reduced inbound shipments of hot-rolled, cold-rolled and galvanized coils.Imports amounted to 121,551 tonnes, against 127,563 tonnes in the corresponding month a year before, according to figures released by the country's foreign trade ministry, MDIC, on Wednesday February 7.China was the largest supplier of flat...Read More
Brazilian exports of steel slab increased in January, while billet shipments declined, according to figures released by the country's foreign trade ministry, MDIC, on Wednesday February 7.Exports of carbon steel slab reached 703,211 tonnes last month, up by 2.55% from January 2017's level of 685,694 tonnes.The United States was the principal buyer of Brazilian slab,...Read More
Domestic prices for heavy steel plate in Europe have been largely unchanged over the past week, but prices are expected to rise with support from a positive trend in the steel coil market, sources told Metal Bulletin on Wednesday February 7.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?550-565 ($681-699) per tonne ex-works on Februar...Read More
Key data from the February 7 pricing session in Europe.Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in Europe Today Previous Change to midpoint of range Midpoint % change 4.80-5.30 5.00-5.50 -0.20 -4% Titanium scrap turnings, unprocessed (max 0.5% Sn) $ per lb, cif European ports ...Read More
The volatile macro environment around the global financial crisis and the explosion of demand growth in China will not been seen again in the coming decade, according to the former chief executive officer of both Rio Tinto and Vedanta Resources. Tom Albanese said the global financial markets literally faced the edge of a cliff in 2009, and nobody knew how the world would come out of the crisis. "E...Read More
The following Metal Bulletin noble alloys and ores prices changed on Wednesday February 7:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.10-12.50 per lb from $11.60-12.00...Read More
The following Metal Bulletin minor metals prices changed on Wednesday February 7:Antimony MB free market regulus, $/tonne: $8,400-8,600 per tonne from $8,300-8,500 Cadmium MB free market min 99.95%, cents/lb: 105-115 per lb from 97-105 Cadmium MB free market min...Read More
Manganese ore, chrome ore and ferro-chrome prices will stand firm over the Lunar New Year holiday amid comparatively strong seasonal demand and the appreciation of the South African rand, producers of those commodities predicted at Mining Indaba this week. South African UG2 chrome ore prices have staged the strongest recovery among the three commodities over the past month, up 16.6%, while ch...Read More
Tungsten miner Almonty Industries reported earnings before interest, taxes, depreciation and amortization (Ebitda) for the three months ended September 31, 2017, that were the same as in the previous quarter, at C$2.88 million ($2.31 million).This was a significant increase from earnings of C$951,000 recorded in January-March, which was the second quarter of Almonty's financial year, the Canada-ba...Read More
Yilmaden Holding has sent a team of senior representatives to Mining Indaba to secure investment opportunities in markets including cobalt, vanadium and molybdenum. The company, a subsidiary of Turkish industrial conglomerate Yildirim Group, is looking for diversification opportunities in Central Asia, Africa and South America. The group already owns chrome assets in Turkey, Sweden, Russia and Kaz...Read More