Shortsighted Wall Street strikes again.Since this bull market began 9 years ago, the most reliable investment strategy has been to simply buy the dips.That’s because investors’ attention spans have continually decreased as the bull market has raged on.The market is down big one day on negative news and back higher the next when the market deems the news to be overblown. Which leads to...Read More

The latest metal markets news and price moves to start the North American day on Wednesday March 28. Base metal prices on the London Metal Exchange were lower across the board during morning trading on Wednesday March 28, with copper recording the biggest decline. The three-month copper price was down $28 per tonne after a third straight day of deliveries into LME warehouses. On-warrant copper sto...Read More

Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Wednesday March 28.Base metals traded on the Shanghai Futures Exchange were broadly weaker during Asian morning trading on Wednesday, with lead the only metal to post any gains.Check Metal Bulletin's live futures report here.LME snapshot at 03.02am London timeLatest three-month LME PricesP...Read More

Base metals prices on the London Metal Exchange ended higher at the close of trading on Wednesday March 28, with only aluminium trading lower. The three-month nickel price was the biggest mover, rising $130 per tonne and recovering back above $13,000 per tonne. The metal is being buoyed by a tight market and low stocks. "Total LME stocks have had very little inflow and edged lower to 322,236 tonne...Read More

Comex copper prices once again saw selling pressure during midweek trading on Wednesday March 28 with a stronger dollar weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 1.10 cents or 0.4% to $2.9905 per lb. The contract has been volatile over the past few weeks, with prices recently hitting a six-month low....Read More

Rotterdam tin premiums rose week on week on March 27 concurrent with expectations of Indonesian exports lowering in coming months, while US and China premiums held steady ahead of the upcoming Easter holidays.Rotterdam 99.9% premium rises US and China premiums steady Indonesian exports expected to slow down Rotterdam 99.9% premium up again while Indonesian supply tightness looms The...Read More

European mills are expected to use the region's newly launched safeguard case into steel import to increase their prices for hot-rolled coil (HRC), market sources told Metal Bulletin on Wednesday March 28.The European Commission (EC) launched the safeguard investigation into 26 steel product types on March 26 in an attempt to prevent the redirection of steel in the global export markets from the U...Read More

Prices for domestic steel hollow steel sections in Southern Europe have fallen by ?,?5-15 per tonne because mills are suffering from low demand, market sources said on Wednesday March 28."We are seeing a small number of offers at the moment, because of the uncertainty in the market. It may be that some suppliers have become nervous, seeing their order intake down in March," one Southern European p...Read More

Union leaders at Codelco Norte, a division of Chilean copper producer Codelco, are urging supervisors to vote for industrial action following the company's latest contract offer.The wage offer eliminates some of the benefits that the supervisors currently have and does not contain certain improvements that were verbally promised by the management, according to the union."It is important that all t...Read More

The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday March 28:Aluminium scrap Group 1 pure 99% & litho: ?1,380-1,430 per tonne from ?1,400-1,450 per tonneCommercial pure cuttings: ?1,150-1,200 per tonne from ?1,160-1,210 per...Read More

Comex copper prices once again saw selling pressure during midweek trading on Wednesday March 28 with a stronger dollar weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 1.10 cents or 0.4% to $2.9905 per lb. The contract has been volatile over the past few weeks, with prices recently hitting a six-month low....Read More

Zinc premiums in Shanghai dropped slightly on softening spot demand while stocks held in Shanghai Futures Exchange-listed warehouses continued to build, whereas lead premiums retreated in Indian and Southeast Asian markets and rose in Europe. Shanghai zinc premiums declined amid weak spot demand  US zinc premiums were flat over the past week, while warehousing stocks declined.  Lead pre...Read More

Domestic prices for cold-rolled coil (CRC) in Europe have been stable over the past week despite a decline in import offers, sources told Metal Bulletin this week.Market activity has been slow because buyers still have sufficient stocks of material that they booked earlier and at lower prices. Additionally, the market was in "wait-and-see" mode after the European Commission (EC) started a safeguar...Read More

The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletCIS, export, billet, offered at $525 per tonne fob...Read More

Prices for rebar produced and delivered in Northern Europe have remained stable over the past week, with market demand remaining low, market participants told Metal Bulletin on Wednesday March 28."There hasn't been any buying activity recently, but overall consumption of rebar remains quite good," one trader in Northern Europe said.Metal Bulletin's weekly price assessment for domestic rebar in Nor...Read More

Prices for rebar produced and delivered in Southern Europe fell by ?,?10 per tonne this week when Italian mills lowered their prices amid a fall in domestic scrap values and continued weak demand, sources told Metal Bulletin on Wednesday March 28.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe narrowed downward to ?,?515-530 ($640-658) per tonne delivered on Wednesda...Read More

The following Metal Bulletin noble alloys and ores prices changed on Wednesday March 28:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.60-12.70 per lb from $12.60-12.80 per lbFerro-molybdenum MB Chinese free market concentrate, yuan/mtu: 1,680-1,700 yuan per mtu...Read More

Tungsten miner W Resources has secured a development grant of ?,?5.3 million ($6.58 million) for its La Parilla tungsten development in southwest Spain from the regional government, the Junta de Extremadura, it said on Wednesday March 28. The grant equates "to 32% of the ?,?16.6 million plant and facilities package that qualified for grant contribution," it said. Last month, W Resources secured a&...Read More

European spot prices for molybdic oxide have eased due to low key trading activity so far this week, while the ferro-molybdenum spot market has been steady, stabilizing the losses made earlier in March.Both markets have been relatively quiet this week, with market participants reluctant to commit to purchases before the Easter holiday in Europe this weekend, lasting from Friday through Monday. Met...Read More

Metal Bulletin has gathered some of the major talking points from its 19th Asian Ferro-Alloys conference in Hong Kong on March 20-22. 1. Demand for steel and ferro-alloys will come from India, Russia, OBOR and Southeast Asia "From my point of view, market means population. China [has a population of] 1.4 billion people," Mark Shujun Ma, chairman and chief executive officer of metals technology and...Read More