Domestic prices for cold-rolled coil (CRC) in the EU declined this week due to competition with imports, sources told Metal Bulletin on Wednesday September 19.Last week import offers of CRC to the EU fell."Domestic mills are under pressure from import offers. And the quota for import is not filled yet therefore the buyers will look for more imported coil," a trader said.The European Commission int...Read More
Domestic prices for hot-rolled coil (HRC) in Europe have moved down over the past week, although previously market participants expected prices to remain stable, sources told Metal Bulletin on Wednesday September 19.The decrease, which showed the biggest decline in the south of Europe, was driven by a combination of limited buying activity and competition with import offers from Turkey, according...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The latest metal markets news and price moves to start the North American day on Wednesday September 19.Base metals prices on the London Metal Exchange were mostly higher during morning trading, with lead bucking the trend amid heavy re-warranting.The three-month lead price is trading $17 per tonne lower this morning following 18,850 tonnes of re-warranting across LME warehouses in Europe.Here is...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday September 19.Base metals prices on the Shanghai Futures Exchange were broadly higher during Asian morning trading on Wednesday, with the complex largely shrugging off an escalation in trade tensions between China and the United States.Check Metal Bulletin's live futures report here.F...Read More
Daniel Mu??iz Quintanilla has left Grupo M?(C)xico SAB de CV after 12 years with the company in various management roles, most recently as group director and secretary as well as executive vice president of its Americas mining division. Quintanilla said he plans to pursue new professional challenges, without specifying further. He was previously the group's...Read More
Dave Kranzler shares what to look for in the silver market as the price has been dropping but retail coin demand has been picking up...Dave Kranzler interviewed by Chris Marcus via Investment Research DynamicsIf you have gold, you have money - If you don't have gold, you have a problem - Alisdair MacleodWith the massive net short position in both gold and silver Comex paper precious metals, offse...Read More
Base metals prices on the London Metal Exchange closed without a clear pattern on Wednesday September 19, although zinc was again the strongest performer. The three-month zinc price closed nearly 2% higher, having earlier peaked at $2,437 per tonne.Tight supply and high zinc premiums are propelling it higher while warrants are tightly held - one entity accounts for 50-79% of all warrant positions....Read More
Comex copper traded at the highest point since late August on Wednesday September 19 with worries over a Chinese and US trade war offset by optimistic demand prospects. Copper prices for December settlement on the Comex division of the New York Mercantile Exchange gained 0.25 cents or 0.1% to $2.7330 per lb. Earlier today, the contract touched a high $2.7535, the highest since August 28. News that...Read More
Seaborne iron ore trading almost came to a halt on Wednesday September 19 with participants heading to a key industry conference in China, while a plan for steelmaking restrictions in Tangshan was finalized.Metal Bulletin 62% Fe Iron Ore Index: $69.46 per tonne cfr Qingdao, down by $0.36 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.49 per tonne cfr Qingdao, down by $0.36 per tonn...Read More
CLICK ON CHART TO ENLARGEThis chart looks at the Silver/Gold Ratio over the past 30-years. Historically when the ratio is heading higher it sends a message to be long and strong Gold & Silver.When the ratio is heading lower, historically it's been a great time to avoid Gold & Silver. The ratio has been heading lower since the highs back in 2011, suggesting it's not the time to buy and hold Silve...Read More
Base metals prices on the London Metal Exchange closed without a clear pattern on Wednesday September 19, although zinc was again the strongest performer. The three-month zinc price closed nearly 2% higher, having earlier peaked at $2,437 per tonne.Tight supply and high zinc premiums are propelling it higher while warrants are tightly held - one entity accounts for 50-79% of all warrant positions....Read More
European nickel premiums moved up in the week ended Tuesday September 18 with participants reporting tight supply in the uncut and cut nickel cathode markets; premiums in China were stable ahead of autumn holidays in Asia. European nickel premiums move up on lack of availability Premiums in China stable in liquid market US premiums unchanged despite uptick in activity Nickel premiums...Read More
The tin premium in Europe fell to one-and-a-half-year lows on Tuesday September 18 due to significant exports from Indonesia and other producing countries over the summer, while premiums in the United States and China were stable. Rotterdam 99.9% premium approaching multi-year low on oversupply US, China premiums flat while eyes turn to start of 2019 supply negotiations European tin premium...Read More
Daniel Mu??iz Quintanilla has left Grupo M?(C)xico SAB de CV after 12 years with the company in various management roles, most recently as group director and secretary as well as executive vice president of its Americas mining division. Quintanilla said he plans to pursue new professional challenges, without specifying further. He was previously the group's...Read More
Alumina prices fob Australia fell nearly 6% on Wednesday September 19 to below $600 per tonne, following the conclusion of a recent tender below the market. Metal Bulletin's benchmark daily fob Australia alumina index fell to $596.94 per tonne from $635 per tonne the previous day. Key drivers The alumina market responded to a recent transaction for Nalco material, which traded at $585.3...Read More
Comex copper traded at the highest point since late August on Wednesday September 19 with worries over a Chinese and US trade war offset by optimistic demand prospects. Copper prices for December settlement on the Comex division of the New York Mercantile Exchange gained 0.25 cents or 0.1% to $2.7330 per lb. Earlier today, the contract touched a high $2.7535, the highest since August 28. News that...Read More
The latest metal markets news and price moves to start the North American day on Wednesday September 19.Base metals prices on the London Metal Exchange were mostly higher during morning trading, with lead bucking the trend amid heavy re-warranting.The three-month lead price is trading $17 per tonne lower this morning following 18,850 tonnes of re-warranting across LME warehouses in Europe.Here is...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Wednesday September 19, with lead bucking the trend amid heavy re-warranting. The three-month lead price is trading $17 per tonne lower this morning following 18,850 tonnes of re-warranting across LME warehouses in Europe.More than 11,000 tonnes of lead were re-warranted in Vlissingen, with a fur...Read More
Crude steel production in Argentina grew by 9.1% year on year in August, according to figures released by national steel association Acero Argentino on Wednesday September 19.Production totaled 455,300 tonnes last month compared with 417,400 tonnes in August 2017, although the total was down by 1.8% on a sequential basis from 463,800 tonnes. Production of long steel products in...Read More