Zinc miners hope to halve the annual concentrate Treatment Charges (TCs) in initial offer prices to smelters this year, while the market prepares for what could be one of the most vibrantly contested negotiations for years.Miners have offered smelters outside of China a flat TC. This is a discount on the London Metal Exchange price for zinc paid to smelters for converting concentrate to metal. Thi...Read More
European alloy surcharges for January deliveries of grade-316 cold-rolled (CR) stainless steel sheet have risen sharply month on month amid higher nickel and molybdenum costs.The February assessment for molybdenum-containing 2 mm grade-316 CR sheet - compiled by Metal Bulletin based on data released by Outokumpu, Acerinox and Aperam - rose ?,?99-155 ($123.03-192.62) per tonne to ?,?1,923-1,963 per...Read More
Treatment charges (TCs) for spot market zinc concentrates dropped to multiyear lows while Chinese smelters re-entered the market for tonnages in January.TCs for lead concentrates also remain depressed, with supply shortages restricting the amount of material on offer and traded lots shrinking.Zinc concentrate TCs dropped $10 per tonne over January to a $10-30 per tonne level. Direct trades were re...Read More
Codelco has reached an early wage deal with unionized workers at its Andina division, the Chilean copper producer said on Saturday January 27. The agreement, signed with Andina's two trade unions, includes a 1% pay rise and an end-of-negotiation bonus of 8.2 million Chilean pesos ($13,592) per worker, Codelco said. The state-run miner added that the deal also includes improved benefits and variabl...Read More
There is more to excite the metals industry than the batteries boom, argues Lord Copper, with the global economy's gradual emergence from the 2008 recession boding well for metal demand. Talk to anybody about metals these days and they are almost guaranteed to turn the conversation to batteries, electric vehicles and the metals that produce the motive power. Tesla's Elon Musk certainly garners far...Read More
Base metals on the London Metal Exchange began the week in positive territory during London morning trading on Monday January 29, with nickel up over 2%.Nickel was the best performer, up $305 per tonne, or 2.2%, while zinc was also strong, up $59.50 or 1.7%."Metals are trending up, but it's largely trend flowing behavior, continuing the uptrend from last week," said Oliver Nugent, commodities stra...Read More
Brazilian slab producer Companhia Sider??rgica do Pec?(C)m (CSP) announced on Monday January 29 that its chief executive officer, Eduardo Parente, will resign from his position and join the company's board of directors.Parente has been the steelmaker's CEO since October 2016, when he replaced S?(C)rgio Leite.Parente will remain in his position until a new...Read More
Mexico's output of crude steel increased by 6.20% in 2017, compared with the previous year, to 20 million tonnes, according to national steel association Canacero.Most of the increase was due to a growth of 32% in the production of semi-finished steel products, Canacero said. Meanwhile, finished steel production increased by 0.10%...Read More
Oman's Jindal Shadeed, part of India's Jindal Steel & Power (JSPL), produced.420,000 tonnes of crude steel in October-December 2017, the company said on Thursday January 25.This was up quarter-on-quarter by 34.48% from 310,000 tonnes produced in the third quarter of the year, it added.Its rebar production reached 240,000 tonnes in the fourth quarter of 2017, and...Read More
China's domestic rebar prices continued to fall on Monday January 29 on thin demand. Domestic Eastern China (Shanghai): 3,820-3,890 yuan ($604-616) per tonne, down 10-30 yuan per tonne Northern China (Beijing): 3,900-3,940 yuan per tonne, narrowed downward by 10 yuan per tonne Most construction projects have stopped work due to bad weather as well as because the Chinese New Year is just a little o...Read More
Chinese ferro-silicon prices have been steady in the past week, stabilizing losses made through the month when idled production was restarted; meanwhile, the European price set another record high, and US prices climbed after a period of inactivity due to strong overseas prices. Consumer demand shores up Chinese market Chinese market awaits new steel mill tenders Europe hits record hi...Read More
Major Chinese stainless steel mill Tsingshan Group has raised its high-carbon ferro-chrome tender price for February delivery due to tight supplies both domestically and overseas on Monday January 29 after Baosteel and Taiyuan Iron & Steel (Tisco) raised ferro-chrome tender prices for February last week. Tsingshan Group raised its high carbon ferro-chrome tender price for February delivery to 7,89...Read More
Chrome ore and alloy prices rose in China late last week after tight domestic supply in the East Asian country prompted leading stainless steel mills to give higher February bid prices. Chrome ore and ferro-chrome prices rise in China after mills raise tendersAlloy prices edge higher in South KoreaEuropean alloy prices edge lowerAlloy prices stable in the United States Chrome ore and ferro-chrome...Read More
Turkish steel producers extended their silence in the deep-sea scrap markets at the start of this week, but they still expected to book more cargoes for February, sources said on Monday January 29.Turkish mills were expected by several market sources to book five or six more cargoes for shipping in February, but they were postponing their scrap purchases due to low demand for...Read More
Anglo American has been granted licenses for the expansion of its Minas-Rio iron ore operation in Brazil's south-eastern Minas Gerais state.The installation and preliminary permits were issued by Minas Gerais' mining chamber, CMI, on Friday January 26.With these licenses, the company is now allowed to start the work that will enable it to raise...Read More
Turkish domestic scrap prices have fallen over the past week, in line with weakening imported scrap values, sources said on Monday January 29.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was TRY1,210-1,400 ($322-373) per tonne delivered, down from last week's $1,300-1,440 per tonne.The fall in the weekly assessment came after steel mills lowered their...Read More
Fortescue Metals Group (FMG) has changed the price adjustment for its 58.3% Fe Fortescue Blend fines to 33% for February shipments, Chinese mill and trading sources told Metal Bulletin on Monday January 29.In December the adjustment was 29% and the new rate is all-time high for the company's flagship product.For its 56.7% Fe Super Special fines, the miner is keeping the February adj...Read More
Iron ore prices softened but remained at the $74-per-tonne-cfr-China mark on Monday January 29 amid declining futures and a subdued steel market in ChinaMetal Bulletin's 62% Fe Iron Ore Index Today: $74.33 per tonne cfr Qingdao Daily change: down by $0.07 per tonne Month-to-date average: $76.12 per tonne Metal Bulletin's 58% Fe Premium Index Today: $60.70 per tonne...Read More
Seaborne iron ore prices softened on Monday January 29 amid weakening futures and a subdued steel market in China.Key driversBillet in China's Tangshan was traded at 3,590 yuan ($568) per tonne including VAT during the day, down 10 yuan per tonne from last Friday.Most mills have completed their restocking of seaborne cargoes, according to several trading sources. Restocking activity at Chinese por...Read More
The return of Chinese buyers to the spot coking coal market is lending stability to prices, though the approaching holiday season in China and parts of Asia may result in lower offers, market participants said on Monday January 29. A cargo of premium low-vol hard coking coal was traded at $217.50 per tonne cfr China at the end of last week, sources told Metal Bulletin. This was preceded by transac...Read More