Glencore-owned Access World has delisted 12 of its 20 London Metal Exchange-registered warehouses in Vlissingen in The Netherlands amid outflows of aluminium stocks after sanctions were imposed by the United States on Russian producer UC Rusal.The LME announced the delisting in a notice to members on Friday April 20. This leaves Access World with just eight LME-listed warehouses in Vlissingen, whi...Read More
Divorce is expensive. On average, the cost of going through a divorce in the United States is around $20,000.I can think of a lot of ways to invest twenty grand that doesn't involve lining the pockets of lawyers or our legal system…The flip side is that weddings are expensive too.In fact, the cost of getting married is almost double that of filing for divorce. However, as I'm sure a lot of y...Read More
Prices for hot-rolled coil (HRC) imported into India from South Korea have fallen by about $30 per tonne in the past month, with a southern India-based end-user booking a large shipment at $660-665 per tonne cfr Chennai port this week.Importers based in the northern port of Mumbai were unsuccessful in booking the South Korean shipment, which comprised about 25,000 tonnes of HRC, although it was fi...Read More
After a week of strong rallies, nickel and aluminium closed the week lower on the London Metal Exchange, with the rest of the complex steady.Nickel's three-month price fell 1.6% to below the $15,000 per tonne mark, with volumes traded at 8,761 lots - much lower than the mid-week figure of 23,000 lots. The metal climbed to a high of $16,690 per tonne but struggled to find support after specula...Read More
The latest metal markets news and price moves to start the North American day on Friday April 20.Base metals held firm on the London Metal Exchange during morning trading, but the nickel price retreated back below $15,000 per tonne on profit-taking.Here's how LME base metals prices looked at 11.50am London time: "Base metals may experience more profit-taking today because most investors will be in...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Friday April 20.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Friday, the exception being tin, which was marginally up on supply concerns due to export issues in Indonesia.Aluminium and nickel have undergone a particularly steep pullba...Read More
Marketing director Alex Tattersall has left UC Rusal's subsidiary in Zug, Switzerland, where uncertainty is high following sanctions imposed by the United States, well-informed sources said. The outlook for Rusal's US subsidiary, Rusal America Corp, is equally uncertain, although market rumors that the US office was officially shutting down this week were denied by Rusal's director of global expor...Read More
After a week of strong rallies, nickel and aluminium closed the week lower on the London Metal Exchange, with the rest of the complex steady.Nickel's three-month price fell 1.6% to below the $15,000 per tonne mark, with volumes traded at 8,761 lots - much lower than the mid-week figure of 23,000 lots. The metal climbed to a high of $16,690 per tonne but struggled to find support after specula...Read More
Comex copper prices experienced a modest gain Friday April 20 morning the US, with a surging dollar capping the potential upside. Copper for May settlement on the Comex division of the New York Mercantile Exchange inched up 0.25 cents or 0.1% to $3.1345 per lb. "While supply should remain tight, we expect a pick-up in seasonal demand...Read More
Prices and trading activity in the physical iron ore market faltered on Friday April 20 after surging a day earlier.Metal Bulletin 62% Fe Iron Ore Index: $67.09 per tonne cfr Qingdao, down by $1.39 per tonneMetal Bulletin 58% Fe Premium Index: $55.68 per tonne cfr Qingdao, up by $0.76 per tonneMetal Bulletin 65% Fe Iron Ore Index: $84.90 per tonne cfr Qingdao, down by $1.60 per tonneMetal Bulletin...Read More
The light iron scrap market in the UK was unchanged for a second week in a row in the seven days to Friday April 20, with steady domestic demand counteracting a drop in export prices to key destinations such as the Turkey and the Indian subcontinent.The market has been stable for two weeks after price losses on the European export market in late March and early April.Metal Bulletin's weekly price...Read More
Ferrous scrap prices in the bulk sector dipped during the working week ended Friday April 20 due to downward pressure from Turkish import prices, which fell midweek in several trades for material from the United States and the Baltic Sea.But this downward trend was not seen in the containerized scrap import market. Taiwanese scrap import prices remained flat on sparse trading this week, while the...Read More
Hydro has halved bauxite output at its Paragominas mine in Brazil due to a government-imposed production cut at the company's Alunorte alumina refinery.Alunorte was ordered to operate at 50% of capacity in late February due to concerns that severe rainfall in Brazil's northern state of Par?? had resulted in water contamination from the refinery.Hydro has disputed the alleged contamination,&nb...Read More
A roundup of changes to aluminium billet premiums, as assessed by Metal Bulletin, in the past month.Read More
Vedanta Resources subsidiary Sterlite Copper must wait a further two weeks to find out if it can restart its 400,000 tonne per year Tuticorin copper cathode smelter in Tamil Nadu, meaning copper concentrate scheduled for the smelter will continue to flow into the spot market. The smelter was closed at the same time as protests against its planned doubling of capacity reached fever pitch towar...Read More
Marketing director Alex Tattersall has left UC Rusal's subsidiary in Zug, Switzerland, where uncertainty is high following sanctions imposed by the United States, well-informed sources said. The outlook for Rusal's US subsidiary, Rusal America Corp, is equally uncertain, although market rumors that the US office was officially shutting down this week were denied by Rusal's director of global expor...Read More
Comex copper prices experienced a modest gain Friday April 20 morning the US, with a surging dollar capping the potential upside. Copper for May settlement on the Comex division of the New York Mercantile Exchange inched up 0.25 cents or 0.1% to $3.1345 per lb. "While supply should remain tight, we expect a pick-up in seasonal demand...Read More
Brazil's slab export prices were unchanged this week as companies continued to focus on the North American market, although uncertainty regarding negotiations over the United States' Section 232 tariff exemptions was affecting the industry.Metal Bulletin's weekly assessment of Brazil's slab export price was $600-610 per tonne fob on Friday April 20, unchanged from the previous week.Offers fro...Read More
Brazilian flat steel producer Usiminas has halted exports from its Cubat??o faciliy, in the country's south-eastern S??o Paulo state, due to the high costs of slab, chief executive officer Sergio Leite told analysts on Friday April 20."Export operations [from the Cubat??o works] are suspended," he said. "We believe we will remain in this situation for three months."But the Cubat??o plant will cont...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices and trading activity both faltered on Friday April 20, after the value of Metal Bulletin's 62% Fe Iron Ore Index surged by more than $2.50 per tonne a day earlier.The stoppage of Anglo American's Minas-Rio iron ore operation in Brazil will have an effect, albeit a small one, on worldwide...Read More