Pig iron buyers in the United States, the largest global market for the steelmaking raw material, resumed their purchasing activity after the scrap price for May had become clear in their domestic market, Metal Bulletin has heard.Metal Bulletin's weekly price assessment for US pig iron imports was $405-410 per tonne cfr on Friday May 18, narrowing upward by $5 per tonne from $400-410 per tonne cfr...Read More
The UK inter-merchant price for austenitic alloy steel scrap has risen by ?20-40 per tonne over the past week, following an increase in nickel values, sources told Metal Bulletin on Friday May 18.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?1,000-1,040 ($1,352-1,406) per tonne delivered on Friday, compared with ?960-1,020 per tonne on May 11."UK m...Read More
The major gold miners' stocks are still largely grinding sideways, mired in a bearish sentiment wasteland. Traders tend to Continue...Read More
Global ferrous scrap prices headed in differing directions during the working week ended Friday May 18, with prices in the bulk sector losing ground while prices for containerized material to Taiwan pushed upward.Turkish scrap import prices slid on lackluster finished steel demand with the start of the Islamic holy month of Ramadan, while prices for exports from the United States fell in two deals...Read More
SHANGHAI, May 18 (SMM) – Total approved copper scrap imports for this year rose to 482,400 mt, after the 12th batch of approvals for restricted solid scrap material imports was released on Tuesday May 15, SMM learned. This is down 83.9% from the total of 11 batches in 2017.Ten companies that imported scrap metals, waste plastics, and waste paper received approval. Approvals we...Read More
London-based Talex Commodities has been hired by the employees of Doe Run Peru to find an investor for the mine.Read More
SHANGHAI, May 18 (SMM) –Copper: LME copper stuck between several moving averages with support at the 40-day moving average overnight. As the US dollar is unlikely to fall from highs in the short term, we see LME copper trading rangebound at $6,850-6,900/mt with the SHFE 1807 contract at 51,000-51,500 yuan/mt during the day. Spot discounts are expected at 100-20 yuan/mt as sellers are likely...Read More
Via the placement at A5c per share, Independence Group (ASX:IGO) will increase its shareholding in Orion to 11.1% from 4.2%, while also securing preferential rights to a joint venture or purchase of Orion's nickel projects in the belt, including the Jacomynspan nickel-copper-cobalt project.It previously subscribed for a $.3 million share placement in Orion and the two companies entered into a JV a...Read More
The range of prices offered for steel slab exports from Brazil narrowed this week, with producers continuing to focus on sales to clients in North America.Offers of Brazilian material were reported around the level of $570 per tonne fob, with rumors of one deal being closed at a price below this mark.But suppliers were not willing to accept any bids below the level of $565 per tonne fob, according...Read More
Greyhorse Mining will acquire an 8% interest for approximately US$20 million, while another 2% will go to a trust benefitting the operation's employees. As part of the transaction, Greyhorse will receive a preferential annual dividend of $500,000 for the first five years, subject to Tsumeb having sufficient available funds and Greyhorse achieving approved performance metrics.Dundee said the...Read More
Indian steelmaker JSW Steel has completed the acquisition of Italian long steel producer Acciaierie e Ferriere di Piombino (Aferpi), Italian trade union Fiom-Cgil said on Friday May 18.JSW Steel acquired the mill from Algeria's Cevital for around 6 billion Indian rupees ($88.41 million), according to media reports in India, while Italian reports suggest the deal was valued at closer to ?,?90 milli...Read More
Thank heavens the Canadian government blocked the bid on national interest grounds as potash prices have been on the skids ever since, something BHP's current CEO Andrew Mackenzie knows well given he ran the failed bid as BHP's head of non-ferrous.Read More
Following the market consultation, Metal Bulletin will increase the frequency of the CIS export steel billet index, fob Black Sea ports, assessment from weekly to daily starting on May 21.The change is made in response to sufficient market liquidity being observed to adjust the weekly price to a daily calculation. This alteration is designed to capture volatility within the market throughout the d...Read More
SHANGHAI, May 18 (SMM) – The nonferrous complex closed higher except for SHFE tin, aluminium and zinc. Nickel led the gains with a rise of 2.2%, lead grew over 1%, and copper inched up.Ferrous metals dropped across the board with coking coal leading the losses and closing 2.2% lower. Rebar fell over 1%, while coke, hot-rolled coil, and iron ore lost close to 1%.Aluminium: The SHFE 1807...Read More
SHANGHAI, May 18 (SMM) – The nonferrous complex closed higher except for SHFE tin, aluminium and zinc. Nickel led the gains with a rise of 2.2%, lead grew over 1%, and copper inched up.Ferrous metals dropped across the board with coking coal leading the losses and closing 2.2% lower. Rebar fell over 1%, while coke, hot-rolled coil, and iron ore lost close to 1%.Aluminium: The SHFE 1807...Read More
SHANGHAI, May 18 (SMM) – The nonferrous complex closed higher except for SHFE tin, aluminium and zinc. Nickel led the gains with a rise of 2.2%, lead grew over 1%, and copper inched up.Ferrous metals dropped across the board with coking coal leading the losses and closing 2.2% lower. Rebar fell over 1%, while coke, hot-rolled coil, and iron ore lost close to 1%.Aluminium: The SHFE 1807...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. The Canadian Dollar slipped 0.11 to U.S. 78.00 cents following release of economic news at 8:30 AM EDT. Consensus for March Retail Sales was an increase of 0.1% versus a gain of 0.4% in February. Actual was an increase of 0.6%. Consensus for April Consumer Price Index was an increase of a ye...Read More
Key data from the pricing sessions in the week ending Friday May 18.China Chinese ferro-chrome spot prices rose further, buoyed by rising chrome ore prices.Potential supply cuts to major ferro-chrome production hubs following environmental inspections. South Korea and Japan Korea FeCr market on an...Read More
Listen to this podcast on our site by clicking here or subscribe on iTunes here.While we often hear about the doom and gloom facing the United States, if we put aside our biases and look deeper, there are actually a number of structural, powerful forces at play that suggest the US is well-positioned to maintain and grow its economic might in the coming century.This time on Financial...Read More