Prices for containerized shredded scrap imports into India went down this week with the weakness of the rupee against the dollar putting buying activity on hold, market sources told Metal Bulletin on Friday May 11.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $385.94 per tonne cfr Nhava Sheva on May 11, down by $4.79 week-on-week from $390.73 per tonne cf...Read More
The latest metal markets news and price moves to start the North American day on Friday May 11.Base metals on the London Metal Exchange were mostly higher during morning trading, with aluminium the only metal trading lower."Despite a retreat in the dollar index and talks of peace in the Korean peninsula, overall sentiment in the base metals complex remains...Read More
Investors can be forgiven for thinking they hit the trifecta last Friday.The U.S. Bureau of Labor Statistics reported that unemployment had dropped to 3.9%, the lowest in almost 20 years.The Federal Reserve Bank of Atlanta reported that its widely followed GDP forecasting tool was showing projected growth for the second quarter of 2018 at 4%, exactly where Trump boosters like Larry Kudlow said it...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Friday May 11.Base metals prices on the Shanghai Futures Exchange were broadly up during Asian morning trading on Friday, with copper and nickel prices putting in the strongest performances of the complex, on the back of a weaker dollar.Check Metal Bulletin's live futures report here. LME snap...Read More
The market gods have stilled the troubled waters.The Dow Jones closed higher for the seventh straight day today.The index has surged some 1,300 points these past seven trading days.The S&P and the Nasdaq have followed in step.Wall Street's "fear gauge," VIX, has plunged below 13- its lowest reading since Feb. 1.Ten-year Treasury yields, meantime, have stabilized under 3%.“What we are get...Read More
Remember that old saying, “If you want something done right, you’ve got to do it yourself?”That’s something that retirees - and those of us who HOPE to retire comfortably - need to keep in mind. Because when it comes to planning for your retirement, no one is going to pay as close attention and be motivated to “do it right” than you!In some cases, retirees are b...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsTwo of the world's largest aluminium producers are teaming up with Apple and the governments of Canada and Quebec in a technology joint venture that could revolutionize the sector. South Korea's Public Procurement Service has floated a tender to procure 1,000 tonnes of Grade...Read More
Two of the world's largest aluminium producers are teaming up with Apple and the governments of Canada and Quebec in a technology joint venture that could revolutionize the sector. Alcoa and Rio Tinto equally own the majority of the joint venture, to be called Elysis, with the government of Quebec holding a small equity stake of 3.5%. Alcoa had been quietly working on the technology to produce emi...Read More
Base metals on the London Metal Exchange ended the week predominantly higher at the close of trading on Friday May 11, although aluminium fell 2% and edged below its $2,300 per tonne support level. The light metal fell to a low of $2,263.50 per tonne over the course of the afternoon, while its cash/three-month spread has widened into a contango of $10 per tonne, from $4.75c per tonne earlier in th...Read More
Average daily volumes (ADV) on the London Metal Exchange rocketed as much as 63.2% year on year for the month of April, with aluminium's ADV difference soaring 117.5% higher, according to the bourse's latest monthly trading report. The LME's monthly trading report includes a breakdown of ADV, with its latest report excluding unallocated trades (UNA) for each metal. An UNA trade is a new service th...Read More
As members of the metals industry, including the London Metal Exchange, brokers, traders, producers, consumers, banks and warehouse companies, prepare to gather for LME Asia Week in Hong Kong from Monday May 14, Metal Bulletin reviews the likely topics of discussion.Opening up China's markets China has been opening up its economy and markets recently. In May, China allowed foreign investors to tra...Read More
Base metals on the London Metal Exchange ended the week predominantly higher at the close of trading on Friday May 11, although aluminium fell 2% and edged below its $2,300 per tonne support level. The light metal fell to a low of $2,263.50 per tonne over the course of the afternoon, while its cash/three-month spread has widened into a contango of $10 per tonne, from $4.75c per tonne earlier in th...Read More
UK ferrous scrap prices for monthly deliveries to consumers in May were unchanged this month, with any possible planned price increases cancelled out by the weakness of sterling against the dollar, trade sources told Metal Bulletin on May 11.Prices for trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and structural) were flat this week, remaining at ?180-205 ($244-277)...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsTwo of the world's largest aluminium producers are teaming up with Apple and the governments of Canada and Quebec in a technology joint venture that could revolutionize the sector. South Korea's Public Procurement Service has floated a tender to procure 1,000 tonnes of Grade...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Average daily volumes (ADV) on the London Metal Exchange rocketed as much as 63.2% year on year for the month of April, with aluminium's ADV difference soaring 117.5% higher, according to the bourse's latest monthly trading report. The LME's monthly trading report includes a breakdown of ADV, with its latest report excluding unallocated trades (UNA) for each metal. An UNA trade is a new service th...Read More
Comex copper prices edged higher in the US morning on Friday May 11, with the complex benefiting from a softer dollar. Copper for July settlement on the Comex division of the New York Mercantile Exchange gained 0.70 cents or 0.2% to $3.1170 per lb. Earlier today, the contract touched a high of $3.1265, the highest since April 27. "Copper is still trading within the...Read More
Two of the world's largest aluminium producers are teaming up with Apple and the governments of Canada and Quebec in a technology joint venture that could revolutionize the sector. Alcoa and Rio Tinto equally own the majority of the joint venture, to be called Elysis, with the government of Quebec holding a small equity stake of 3.5%. Alcoa had been quietly working on the technology to produce emi...Read More
As members of the metals industry, including the London Metal Exchange, brokers, traders, producers, consumers, banks and warehouse companies, prepare to gather for LME Asia Week in Hong Kong from Monday May 14, Metal Bulletin reviews the likely topics of discussion.Opening up China's markets China has been opening up its economy and markets recently. In May, China allowed foreign investors to tra...Read More
Chinese export volumes of unwrought aluminium and aluminium products increased 51.9% year on year, but slipped slightly compared with March, according to preliminary Chinese customs data released on Tuesday May 8.China exported 451,000 tonnes of aluminium products, a 51.9% increase or 154,000 tonnes up from 297,000 tonnes exported in April 2017, but a drop of 1,000 tonnes or 0.2% from March 2018 e...Read More