Prices for shredded scrap imported in containers into India continued to rise this week despite a weakening in the country's domestic finished and semi-finished steel markets, sources said on Friday January 12.Metal Bulletin's index for Indian imported shredded scrap rose to $380.45 per tonne cfr Nhava Sheva on Friday January 12, up by $6.36 per tonne week-on-week."The scrap market is firm in all...Read More
The UK inter-merchant price range for austenitic alloy steel scrap narrowed upward by ?10 per tonne this week with nickel prices remaining strong, sources said on Friday January 12.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?960-980 ($1,297-1,324) per tonne delivered on Friday, compared with ?950-980 per tonne on January 5."It's not easy to buy b...Read More
The market in the United Kingdom for grade 5C ferrous scrap has increased in the past week, with prices rising on tough competition between a couple of major dealers for seemingly tight supplies, according to industry sources.And the current trend toward higher prices that started on November 10 last year may persist in the near future amid tough competition for material.Northern European export p...Read More
German steelmakers have settled their monthly scrap contracts for January with an average price increase of ?,?10 ($12) per tonne, sources told Metal Bulletin on Friday January 12.But some mills, that had paid more for material in December, have settled contracts for scrap with a rise of ?,?5 per tonne this month, according to market participants.Metal Bulletin's monthly price assessment for domes...Read More
The Turkish deep-sea scrap market went quiet again on Friday January 12 amid tight supply, although the country's steel producers were still expected to book more cargoes for February.The supply especially in the United States was said to be tight due to heavy winter conditions, which was limiting the flow of...Read More
Comex copper prices were lower on the morning of Friday January 12, with volumes small ahead of the US holiday weekend.Copper for March settlement on the Comex division of the New York Mercantile Exchange dipped by 0.45 cents or 0.1% to trade recently at $3.2285 per lb. The trading range so far has been between $3.2180 and $3.2490 per oz."Copper is comfortably consolidating," Metal Bulletin analys...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday January 12, with zinc continuing to edge higher. The three-month zinc price hit a high of $3,409 per tonne already this morning - the highest since August 2007. "Momentum-based indicators show a strong uptrend in motion. A fresh 2018 high is likely to occur in the coming days," Boris Mikanikrezai, M...Read More
Both the physical and paper markets for iron ore softened on Friday January 12 amid a further weakening of Chinese steel prices and with the disruptions attributed to a cyclone in Australia being less intense than expected.Key driversChina's spot rebar and hot-rolled coil prices fell 20-70 yuan ($3.10-10.80) per tonne during the day. The country's ferrous futures also tanked across the board.Weste...Read More
Deliverable nickel stocks at the Shanghai Futures Exchange-approved warehouses remained in an upward trajectory over the past week due to tax policy changes implemented at the start of the year.SHFE nickel inventories increased by 8,475 tonnes or 17.3% over the past week to 57,395 tonnes as of Friday January 12. Stocks have now increased by 29.8% in the first two weeks of January, compared with 44...Read More
China's domestic prices for hot-rolled coil fell at a faster pace on Friday January 12 amid a weakening of the futures market.DomesticEastern China (Shanghai): 4,150-4,200 yuan ($638-645) per tonne, down 60-70 yuan per tonne Northern China (Tianjin): 3,990-4,010 yuan per tonne, down 40 yuan per tonneFutures prices fell rapidly during Thursday night's trading session and weakened further on Friday,...Read More
The following Metal Bulletin minor metals prices changed on Friday January 12:Minor metals Antimony MB free market regulus, $/tonne: $8,050-8,350 per tonne from $8,000-8,350 Antimony MMTA standard grade II, $/tonne: $8,050-8,350 per tonne from $8,000-8,300 Chromium MB free market alumino-thermic, $/tonne: $8,000-8,300 per tonne from $7,700-8,000 Cobalt...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An overview of China's minor metals markets in the week of January 8-12 and the reasons for any price moves.Read More
Base metals prices on the London Metal Exchange are generally higher this morning, Friday January 12, with prices fairly uniformly up between 0.5% and 0.6% - apart from tin prices that are down 0.1% at $20,159 per tonne. Three-month copper prices are up by 0.5% at $7,167 per tonne and zinc prices have been as high as $3,405 per tonne, which is a fresh multi-year high.Volume has been average, with...Read More
The spot gold price rose during Asian morning trading on Friday January 12, after hawkish language contained in the European Central Bank's (ECB) December meeting minutes and soft US data weighed on the dollar.The spot gold price was quoted at $1,328.56-1,329.10 per oz as of 12.24pm Shanghai time, up by $6.45 from the previous session's close. Trade has ranged from $1,322.85-1,329.15 so far today....Read More
China's domestic stainless steel prices have started to retreat over the past week on subdued demand. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,700-15,400 yuan ($2,259-2,367) per tonne including VAT for the week ended Thursday January 11, down 100-500 yuan per tonne a week earlier. The sustained lack of activity in the mar...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday January 12:Aluminium scrap Floated Frag: ?,?1,290-1,330 per tonne from ?,?1,270-1,320 Cast:...Read More
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Demand for energy has got commodities off to a bullish start in the first full trading week of 2018. A weaker dollar and increased focus on inflation together with geopolitical risks were some of the main drivers of a strong beginning to the year for crude oil and gold. Correction risks lurk, however, with oil potentially at riskRead full newsRead More