Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States adopted a wait-and-see attitude toward the market in the week ended Monday March 26, trying to avoid price declines, sources told Metal Bulletin."Prices are coming down and the market [for CIS-origin flat steel] seems to be frozen," a trader said.Metal Bulletin's weekly price assessment for CI...Read More
Base metals prices on the London Metal Exchange mostly closed in positive territory on Monday March 26, with copper the only exception. After a morning of price dips across the complex, the majority of metals found support throughout the day from the weaker the weaker dollar. The dollar index hit a low of 89.02. "The dollar is weak once again which helped prices pick up throughout the day. But cop...Read More
Antimony prices fell last week in Europe after more material reached warehouses in Rotterdam while demand remained weak; the Chinese market continued to be subdued lacking further direction.Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,500-8,675 per tonne, down 0.7% from Wednesday's assessment and down from $8,600-8,800 per tonne level the week before....Read More
The latest metal markets news and price moves to start the North American day on Monday March 26.Copper prices on the London Metal Exchange dived this morning following another large delivery into LME-listed warehouses.Here is how the LME base metals complex looked at 12.17pm London time:For a snapshot of exchange news, check out our live futures...Read More
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Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Monday March 26.Base metals prices, with the exception of tin, on the Shanghai Futures Exchange were all lower during Asian morning trading on Monday after the escalating trade tensions between China and the United States weighed on the demand outlook for commodities.Check Metal Bulletin's...Read More
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Base metals prices on the London Metal Exchange mostly closed in positive territory on Monday March 26, with copper the only exception. After a morning of price dips across the complex, the majority of metals found support throughout the day from the weaker the weaker dollar. The dollar index hit a low of 89.02. "The dollar is weak once again which helped prices pick up throughout the day. But cop...Read More
Comex copper prices on Monday March 26 remain at a December 2017 low with a potential trade war between the United States and China, along with increased warehouse stocks, weighing on the complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange declined a further 1.80 cents or 0.6% to $2.9750 per lb. The red metal was pressured by a 37,575 tonne delivery into Lo...Read More
Iron ore prices were relatively stable at $64 per tonne cfr China on Monday March 26 with participants standing on the sidelines in anticipation of further clarity about the marketMetal Bulletin's 62% Fe Iron Ore Index Today: $64.33 per tonne cfr QingdaoDaily change: down by $0.25 per tonneMonth-to-date average: $71.17 per tonneMetal Bulletin's 58% Fe Premium Index Today: $51.43 per tonne cfr Qing...Read More
Peter KrauthAfter a flat start to the month for gold prices, they finally took off last week. And that's setting the stage for an even longer gold price rally…Gold prices surged higher after the U.S. Federal Reserve hiked rates last week, gaining $35 per ounce, or 2.7%.It was the perfect response to stocks. The stock market tumbled after Fed Chair Jerome Powell's press conference on Wednesda...Read More
Galvanizers in Europe are largely resistant to volatile and rising zinc prices, senior executives in the industry said at the Metal Bulletin Zinc and its Markets Seminar in London.Continuous and batch galvanizing processes are able to pass the higher costs of zinc onto their customers for a range of reasons, the executives said on March 23.For continuous galvanizing, where steel sheets are process...Read More
Price losses have deepened in the Chinese ferro-silicon spot market as restarted production increasingly weighs on supplier sentiment, although demand from the magnesium market is giving some support. China market weakness persists... ...but Mg sector demand stems price losses Europe eases with lower offer pricesUS suppliers cut prices amid competition Renewed supply drags down Ch...Read More
Antofagasta's Los Pelambres mine in Chile has reached an agreement with unionized workers for a new collective bargaining agreement, putting an end to the threat of strike action.The deal, reached during a period of government-mediated talks, includes an end-of-negotiation bonus of 11.6 million Chilean pesos ($19.06), a pay increase of 35,000 pesos and a loan of 3 million pesos per worker, th...Read More
Unionized workers at the Escondida copper mine in Chile have accepted an invitation to begin early talks with management on a new collective bargaining agreement.Direct negotiations with the company could begin starting next week, Escondida's Union No. 1 said in a statement on Saturday March 24. The union will "explore an agreement with the company based on the defense...Read More
Comex copper prices on Monday March 26 remain at a December 2017 low with a potential trade war between the United States and China, along with increased warehouse stocks, weighing on the complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange declined a further 1.80 cents or 0.6% to $2.9750 per lb. The red metal was pressured by a 37,575 tonne delivery into Lo...Read More
China's long-awaited crude oil futures started trading on the Shanghai International Energy Exchange (INE) on Monday March 26, with the most active front-month September contract closing 3.3% higher at the end of the trading day. The September crude futures contract, or SC1809, finished at 429.90 yuan ($68) per barrel, up 13.90 yuan per barrel from the INE-set starting price of 416 yuan per barrel...Read More
The latest metal markets news and price moves to start the North American day on Monday March 26.Copper prices on the London Metal Exchange dived this morning following another large delivery into LME-listed warehouses.Here is how the LME base metals complex looked at 12.17pm London time:For a snapshot of exchange news, check out our live futures...Read More
Global crude steel production rose by 3.5% year-on-year in February 2018 thanks partly to a sizable increase in China, according to statistics published by the World Steel Association (Worldsteel) on Monday March 26.World crude steel output was 131.79 million tonnes in February, compared with 127.34 million tonnes in the corresponding month of 2017.China, the world's largest steelmaking country, i...Read More
The main shareholders in Brazilian flat steel and iron ore producer Usiminas, Ternium and Nippon Steel & Sumitomo Metal Corp (NSSMC), have nominated six members to the company's executive board for the period from May 2018 to May 2020.Alberto Ono has been nominated for the position of finance and investor relations vice president, Miguel Homes for commercial vice president, and Kohei Kimura for te...Read More