Brazilian steel and iron ore producer Usiminas has reported a rise in adjusted earnings of 20.35% year-on-year in the first quarter of 2018 due to achieving higher sales volumes of steel and iron ore.The company reported adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the three months of 641.20 million Reais ($189.28 million) on Friday April 20.This compared wi...Read More

Earnings at Russian steelmaker Severstal rose by 22.1% year-on-year in the first quarter of 2018 amid a favorable pricing environment for steel and commodities, the company said on Tuesday April 17.Earnings before interest, taxes, depreciation and amortization (Ebitda) increased to $706 million in January-March 2018, compared with $578 million in the corresponding period last year.The company's re...Read More

Swedish steelmaker SSAB expects its prices to be higher in April-June this year compared with the first quarter of 2018, the company said on Friday April 20."The outlook remains good for 2018. SSAB has strong market positions in our home market and in our global niches. All in all, we have good opportunities for continued profitable growth and to generate strong cash flow," president and chief exe...Read More

The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday April 20:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.90-12.30 per lb from $11.75-12.00 per lbMolybdenum US canned molybdic oxide, $/Ib $12.00-12.30 per Ib from $12.30-12.50 per lbFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.30-29.85 per kg from $28.70-29.00 per kgFe...Read More

High manganese ore prices and price dislocation between ore and alloy will cause further alloy market uncertainty, benefitting integrated producers, mining group OM Holdings (OMH) said in its annual report. Manganese ore markets soared in late 2017 and the first quarter of 2018, prompting a backlash among manganese alloy smelters in China when prices breached $8.00 per dry metric tonne unit (dmtu)...Read More

OM Holdings (OMH) expects continued volatility in manganese ore prices amid active silico-manganese futures trading and predicts a constrained market for high-grade ore, the company said on Thursday April 19. Describing manganese ore inventories in Chinese ports as "healthy" and "far from excessive," despite record import levels in 2017, the miner noted a significant drop in Chinese domestic produ...Read More

GFG Alliance, the owner of international metals group Liberty House, has completed its acquisition of Glencore's Tahmoor metallurgical coking coal mine in New South Wales, Australia, it said on Friday April 20.The acquisition will bring Tahmoor under the ownership of GFG's Simec Mining division, following ministerial approval in Australia.The Tahmoor mine is 75km south-west of Sydney and has capac...Read More

Prices for containerized shredded scrap imports into India edged up this week, with the market seeking a correction following a series of recent falls, market sources told Metal Bulletin on Friday April 20.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $385.44 per tonne cfr Nhava Sheva on April 20, up by $4.17 per tonne week-on-week, compared with $381.27...Read More

The Turkish steel mills went quiet in the deep-sea markets on news of the Turkish government's decision to hold early elections, sources said on Friday April 20.Market participants were surprised by the decision announced on April 18, and no deep-sea scrap transactions have been heard since then. But Turkish steel mills were still expected to book more deep-sea cargoes for May.The ruling Justice &...Read More

Export prices for Brazilian pig iron have held stable for a second week in a row, amid thin trading and market uncertainty, Metal Bulletin heard this week."There is no news in the [Caraj??s] export market," a local source said.Metal Bulletin's weekly price assessment for Caraj??s-origin pig iron exports was unchanged week on week on Friday April 20, at $405-410 per tonne fob.The latest deal involv...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

Deliverable copper stocks at Shanghai Futures Exchange-approved warehouses have dropped by 6.8% or 19,093 tonnes week on week as of Friday April 20 to 261,743 tonnes. This week, Zhongchu Wusong in Shanghai saw the most copper stocks leave its sheds with 8,573 tonnes delivered out.  Copper stocks in SHFE warehouses have been on an uptrend since early this year amid...Read More

Base metals price largely held firm on the London Metal Exchange during morning trading on Friday April 20, except for nickel which retreated back below $15,000 per tonne on profit-taking. Nickel's spike to a three-and-a-half-year high of $16,690 per tonne on Thursday was bolstered by concerns over risks of further US sanctions against key Russian firms, namely Russian nickel producer Nornickel. N...Read More

Sentiment in the seaborne coking coal market remains bearish although more transactions were reported on Friday April 20.Two cargoes of top Australian brands of premium hard coking coal were traded around $194-195 per tonne cfr China, sources told Metal Bulletin. A cargo of hard coking coal and a shipment of semi-hard materials were also heard to...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday April 20*Copper -$104.28 (-656.70 yuan) Aluminium -$691.04 (-4,351.66 yuan) Zinc -$58.63 (-369.20 yuan) Nickel -$1,331.18 (-8,382.82 yuan) * Metal Bulletin calculates the...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

The following Metal Bulletin minor metals prices changed on Friday April 20:Antimony MB free market regulus, $/tonne: $8,200-8,350 per tonne from $8,350-8,450 Antimony MMTA standard grade II, $/tonne: $8,200-8,350 per tonne from $8,300-8,450 Cadmium MB free market min 99.95%, cents/lb:...Read More

An overview of China's minor metals markets in the week of April 16-20 and the reasons for any price moves.Read More

Compagnie de Tifnout Tiranimine (CTT) has resumed cobalt production at its plant after operational difficulties resulted in a one-week closure. Operations restarted at the plant in Morocco this week and production is ramping up to normal levels, a source close to...Read More

Base metals traded on the London Metal Exchange have come under downward pressure this morning, Friday April 20, with the complex posting an average loss of 1.1% amid healthy trading volumes.Nickel (-2.9%) and aluminium (-1.1%) have been hit the most, which is not surprising after the substantial gains both metals made earlier this week. They remain the star performers in the week to date, with al...Read More