While the programming behind algorithmic trading is still in relative infancy, these computerized systems are more likely to increase volatility in metals trading than reduce it, Lord Copper muses. A few weeks ago, fellow Metal Bulletin columnist Martin Hayes wrote about the dramatic fall in the prices of financial assets since the turn of the year. Stock markets across the world have given b...Read More

Domestic prices for steel beams have inched down across Europe although market participants expect to see mills raise their offer prices in the coming week after ferrous scrap prices increased.Prices for ferrous scrap in Italy increased by ?,?30 ($37) per tonne in March, while those in Germany rose by around ?,?20 per tonne."I expect to see some movement [in prices] because these guys can't keep r...Read More

Base metals prices on the London Metal Exchange closed higher across the board on Wednesday March 21 after the dollar weakened slightly. The three-month copper price staged a recovery back toward the $6,800 per tonne support level. The red metal has come under pressure in recent days following easing supply concerns. Aluminium and nickel price remained rangebound, both closing marginally higher wh...Read More

Major international mining companies active in the Democratic Republic of Congo (DRC) previously supported work on the new mining code by the country's Chamber of Commerce and are unfair to criticize the association, it said. The country's largest foreign miners, including Randgold Resources, AngloGold Ashanti, Glencore plc, Ivanhoe Mines, Gold Mountain International/Zijin Mining Group, MMG (PTY)...Read More

Comex copper prices bounced back on Wednesday March 21 ahead of the conclusion of the US Federal Reserve meeting with the dollar experiencing a bout of weakness. Copper for May settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents or 0.3% to $3.0455 per lb. Yesterday, the contract hit a three-month low. "Today, the Fed concludes its two-day policy meeting which....Read More

Nickel premiums in Shanghai dived to their lowest level in eight months on Tuesday March 20, due to the sustained negative arbitrage, while the majority of US and European premiums remained firm. Shanghai full-plate premiums dive to August 2017 lowNickel briquette premiums in Rotterdam dip due to more availabilityUS nickel premiums unchanged but demand is firm Shanghai premiums dive on negative ar...Read More

The latest metal markets news and price moves to start the North American day on Wednesday March 21. Base metals prices on the London Metal Exchange were on divergent paths during morning trading, with copper prices falling further. The three-month copper price was down $40 per tonne and trading at levels unseen since December 2017. Easing supply concerns have put pressure on copper prices over th...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday March 21*Copper -$84.89 (-538.7 yuan) Aluminium -$413.53 (-2,624.1 yuan) Zinc -$109.97 (-697.83 yuan) Nickel -$404.66 (-2,567.8 yuan) *Metal Bulletin calculates the physical...Read More

While the programming behind algorithmic trading is still in relative infancy, these computerized systems are more likely to increase volatility in metals trading than reduce it, Lord Copper muses. A few weeks ago, fellow Metal Bulletin columnist Martin Hayes wrote about the dramatic fall in the prices of financial assets since the turn of the year. Stock markets across the world have given b...Read More

European markets will not be flooded with imports of steel coil products after the United States applies its new import duty later this week, because US buyers of flat steel will be forced to pay the tariff, EU market sources have told Metal Bulletin.US President Donald Trump has approved the application of a 25% import tariff on steel imports from all countries apart from Australia, Canada and Me...Read More

Prices for rebar produced and delivered in Southern Europe narrowed downward by ?,?5 per tonne this week with demand and market activity weakening, sources told Metal Bulletin on Wednesday March 21."The price has moved down a little due to the very cold weather and weak demand," one Southern European producer source said.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europ...Read More

Domestic prices for mesh-quality wire rod produced and delivered in Europe remained unchanged this week as market activity slowed, sources said on Wednesday March 21.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe was unchanged at ?,?550-560 ($676-689) per tonne delivered on Wednesday March."The market is under a little pressure, but this is more evid...Read More

Prices for rebar produced and delivered in Northern Europe have gone unchanged over the past week, with market demand low because of the recent cold weather in the region, market participants told Metal Bulletin on Wednesday March 21.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was stable at ?,?550-570 ($676-701) per tonne delivered on Wednesday, unchanged week-on...Read More

Buying from Chinese manganese smelters might slow down but strong market fundamentals will support manganese prices, participants said during a panel discussion at the Asian Ferro-Alloys Conference in Hong Kong on Wednesday March 21.On the supply side, current inventories at the Chinese ports of Tianjin and Qinzhou are around 2.0-2.1 million tonnes, according to Metal Bulletin's assessment on Marc...Read More

Manganese ore inventories in Chinese ports have dropped 50% since April 2017 despite higher imports and almost unchanged silico-manganese production in 2017, according to Metal Bulletin data; Metal Bulletin asks why during the 19th Asian Ferro-Alloys Conference held in Hong Kong.Manganese ore port inventories have long been a key indicator of market fundamentals in China. Manganese ore inventories...Read More

The following Metal Bulletin minor metals prices changed on Wednesday March 21:Antimony MMTA standard grade II, $/tonne: $8,550-8,750 per tonne from $8,600-8,800 Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 52,500-53,000 yuan per tonne from 53,000-53,500 yuan Cadmium MB free market min 99.95%, cents/lb: 150-160 per lb from...Read More

The following Metal Bulletin noble alloys and ores prices changed on Wednesday March 21:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.60-12.80 per lb from $12.75-12.85 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg...Read More

Iron ore pellet premiums are expected to rise in 2018, reflecting agreements with customers and strong demand for high-quality pellets, Ukraine-focused iron ore producer Ferrexpo said on Wednesday March 21."In 2018, we expect further rationalization of steel capacity in China, which should support global steel margins, and in turn encourage a continued focus on iron-making productivity," Ferrexpo...Read More

Weak demand for Turkish long steel products in the country's export market and Section 232 uncertainty kept Turkish steel producers out of the deep-sea scrap markets on Wednesday March 21.After stepping back from the deep-sea scrap markets on March 9, when the United States applied a 25% duty on imports of steel products following the Section 232 investigation, there has been no...Read More

Iron ore prices moved slightly above $67 per tonne cfr China on Wednesday March 21, tracking increases in the paper markets.Metal Bulletin's 62% Fe Iron Ore IndexToday: $67.25 per tonne cfr Qingdao Daily change: up by $0.31 per tonne Month-to-date average: $72.33 per tonne Metal Bulletin's 58% Fe Premium Index Today: $55.56 per tonne cfr Qingdao Daily change: up by...Read More