The United States' decision to impose Section 232 tariffs of 25% on steel imports is the "best worst-case scenario", European long steel exporters told Metal Bulletin this week.The US imposed Section 232 tariffs of 25% on steel imports and 10% on aluminium imports from Canada, Mexico and the European Union with effect from 12.01am on Friday June 1. "We are happier with a 25% tariff than a quo...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in May 2018.The case list below includes only updates. For other continuing cases this year, see...Read More
SHANGHAI, Jun 1 (SMM) – Most nonferrous metals weakened on Friday June 1. SHFE lead fell 0.7%, and tin, zinc and aluminium dipped. SHFE nickel gained 2.1% and hit a record high. SHFE copper inched up.The ferrous complex rose across the board except for iron ore. Coking coal surged over 2%, rebar gained 1.7%, and hot-rolled coil and coke climbed slightly.Copper: As longs added their posi...Read More
Domestic prices for rebar in Poland have been under pressure from competitive import offers, sources told Metal Bulletin on Friday June 1.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,250-2,280 zloty ($609-617) per tonne ex-works on June 1, compared with 2,220-2,270 zloty...Read More
SHANGHAI, Jun 1 (SMM) – Operating rates at wire and cable plants across China stood at 90.99% in May, up 0.82 percentage point year on year, and up 1.87 percentage points month on month, SMM research found.For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@smm.cnRead More
Nonfarm payrolls rose 223,000 in May and the unemployment rate fell to an 18-year low of 3.8 percent, according to the Bureau of Labor Statistics.Continue...Read More
Europe import prices for austenitic alloy steel scrap softened this week as the effect of high nickel prices was offset by sluggish demand, sources told Metal Bulletin on Friday June 1. Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,180-1,200 ($1,379-1,402) per tonne cif main European ports on Friday, down from ?,?1,200-1,240 per ton...Read More
SHANGHAI, Jun 1 (SMM) – Spot copper was mostly offered at a discount of 10 yuan/mt to a premium of 40 yuan/mt over the SHFE 1806 contract in the Shanghai market on Friday June 1. This compared with a discount of 40 yuan/mt to a premium of 20 yuan/mt on Thursday May 31.The SHFE 1806 contract hovered around 51,230 yuan/mt and closed at 51,240 yuan/mt in the morning trading session, up 120...Read More
He will lead the development of the project's commercial scale demonstration plant, as well as help drive the development of the project into a world-class copper-cobalt opportunity.Bailey has more than five decades' of experience in the mining sector, having spent 30 years at Rio Tinto where he was joint global head of mining operations, working in Africa, South America and Europe.He wa...Read More
RAPAPORT... De Beers is expanding its presence in stores that carry the Forevermark brand and improving its omni-channel offering to capitalize on the recent growth in online diamond-jewelry sales."We must remain relevant to consumers and embrace the idea of everywhere commerce," Charles Stanley, president of Forevermark's US operations, said at the brand's annual breakfast presentation at JCK Las...Read More
Trading activity in the United States has slowed down in the pig iron market since buyers restocked early in May. They are expected to resume purchases later in June, when the trend in the scrap market becomes clear, Metal Bulletin was told on Friday June 1."Further developments will depend on decisions about trade regulations in the US [after it imposed its threatened 25% import tariff on steel p...Read More
ELB Engineering Services announced last week that it had been awarded the contract for the drying system for the MV Grand Banks life extension project by marine mining company De Beers Marine. Additionally, the company noted that it had completed train loading station (TLS) and stacker projects for the Assmang Black Rock Mine Operations (BRMO), in addition to completing projects for consumer goods...Read More
(IDEX Online News) - The IDEX polished diamond price index rose in May after a flat performance in April. ...Read More
SHANGHAI, Jun 1 (SMM) – Copper: LME copper fell below the daily moving average after surging to a high of $6,895.5/mt as the US dollar index declined. It is expected to hover at $6,800-6,870/mt today. The SHFE 1807 contract consolidated at 51,405 yuan/mt after rising to above the daily moving average at a high of 51,570 yuan/mt as investors cut their short positions. Pressure was seen a...Read More
Global ferrous scrap prices continued to soften during the week ended Friday June 1, with economic uncertainty in Turkey exerting downward pressure on spot trading values.The imposition by the United States of Section 232 import tariffs at 25% on steel from Canada, Mexico and the EU also damped market sentiment.Buyers in other parts of the world waited for better prices, causing negotiation activi...Read More
(IDEX Online News) - Round diamonds saw more rising prices in May than decliners in most categories from 0.18-0.22 carats to 1.00-1.24 carats, while larger diamonds of 4.00-4.99 carats to 5.00-5.99 carats saw few price changes. Risers were particularly prominent in 0.18-0.22 carat stones in G-I, I1-SI2 which were up 4-5%; 0.23-0.29 carats in J-K, VVS1-SI2 were up 4-10%; and 1.00-1.24 carat diamond...Read More
SHANGHAI, Jun 1 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index weakened but remained at high levels around 94 with support from robust US data on employment and the personal consumption expenditure (PCE) price index. However, the US announced it will end the temporary exemptions on steel and aluminium dutie...Read More
Brazilian slab export prices remained unchanged on Friday June 1, with few offers being heard due to a nationwide strike by truck drivers that affected production in most steelmaking facilities in the country.Metal Bulletin's weekly assessment of Brazil's export slab prices was $580-590 per tonne fob on June 1, stable from the previous week.A few offers were heard to the North American market at $...Read More
The subscription and placing comprised a total 222.2 million new ordinary shares at a price of 0.36p per share, which was a discount of around 17.24% to the closing mid-market price of 0.435p/share on May 30.Bezant executive chairman Colin Bird invested £50,000, or 6.25% of the total, to subscribe for 13.9 million shares, while 208.3 million shares were placed via broker Novum Securities.The...Read More