Gerdau considers its current portfolio of assets in the United States and Canada to be "adequate" following the divestments in January of some of its US rebar production units, a wire rod mill and two downstream facilities, it has said."We reached a point where we consider our portfolio [in North America] adequate, and from now on we will draft our growth strategy," Gerdau chief finance officer Ha...Read More

Prices for rebar made and delivered in Northern Europe are expected to increase over the coming weeks amid an upturn in prices for the ferrous scrap used to make the bar product, sources told Metal Bulletin on Wednesday February 28."Prices are more or less unchanged [over the past week]; we expect them to go up in the coming weeks," one Northern European trader said."Scrap prices have turned aroun...Read More

Key data from the Wednesday February 28 pricing session in Europe. Ferro-titanium 70% (max 4.5% Al) $ per kg, delivered duty-paid in EuropeKey drivers: - The ferro-titanium spot market was steady, with more than 100 tonnes of alloy reported to have traded. - The titanium scrap markets were stable for a third week in a row despite a lack of reported trades. - Sources are waiting for tenders from st...Read More

Good news, Pretium at the BMO Conference is telling us that everything is great (link), no need to worry. Production at Brucejack is swell, and everything is going to be super-good after the mill expansion. For fun, they are looking for the source porphyry, because, why not.We also got the Brucejack ramp up production figures, you know, the ones where grade and ounces produced went down. We actual...Read More

The following Metal Bulletin noble alloys and ores prices changed on Wednesday February 28:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $12.80-12.85 per lb from $12.55-12.75 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $30.60-30.75 per kg from $30.40-30.60...Read More

Noble Group made a net loss of $4.94 billion in the 2017 financial year ended December 31, the company said on Wednesday February 28.This compares with net profit of $8.14 million in 2016. The losses included $3.24 billion of exceptional items recorded during the period from Noble's continuing operations, which included results from the hard commodities, freight and light natural gas segment. The...Read More

Worldwide output of direct-reduced iron (DRI) increased by 7.60% year-on-year in January 2018, driven by higher production from Iran, according to the World Steel Assn (Worldsteel).DRI output was 6.47 million tonnes in January 2018, compared with 6.02 million tonnes one year before, Worldsteel said on Monday February 26.Iran increased its DRI output to 2.06 million tonnes in January 2018, rising b...Read More

The Turkish steel mills stayed back from the scrap markets on Wednesday February 28, booking no deep-sea cargoes, but they are expected to secure more transactions for April, Metal Bulletin was told.Scrap prices were also expected to increase further, amid strong demand from the country's steel producers."I hear that a number of mills are looking for material for April now. I think we will continu...Read More

Vale's Caraj??s-origin 65% Fe iron ore is expected to be sold in 2018 at a premium of $14-15 per tonne over its 62% Fe product, ferrous minerals and coal executive officer Peter Poppinga has said."We are very positive [about the market], because of bullish macroeconomic indicators, rising steel demand globally and high steel prices," he told analysts during a conference call on Wednesday February...Read More

Iron ore prices slid below $79 per tonne cfr China on Wednesday February 28 amid sluggish demand for the steelmaking raw material in the seaborne market. Metal Bulletin's 62% Fe Iron Ore Index Today: $78.61 per tonne cfr Qingdao Daily change: down by $0.54 per tonne Month-to-date average: $77.35 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61.62 per tonne cfr...Read More

Brazilian miner Vale views the gap between high- and low-grade iron ore as a "structural change that will continue to impact the market in the coming years," it said on Tuesday February 27. The move toward a more efficient steel industry, along with the enforcement of stricter environmental policies in China, should support demand for high-quality ores that enable productivity and lower emissions,...Read More

Seaborne coking coal prices rose on Wednesday February 28, with Chinese buyers flagging limited offers of such materials and an unclear outlook for domestic supply as factors generating buying interest. A cargo of premium products was offered at $237 per tonne fob Australia on Global Coal. A bid of $229 per tonne fob was made for the cargo. Tier-two cargoes were heard offered on both cfr China and...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, tender, 100,000 tonnes of 61% Fe...Read More

The seaborne iron ore market softened on Wednesday February 28 with few bids made in response to the large number of offers, most of them from traders.Key driversChina's benchmark iron ore futures contract retreated for a second day, while spot rebar and hot-rolled coil prices in the country also fell 10-20 yuan ($1.60-3.20) per tonne during the day.With downstream steel demand yet to pick up afte...Read More

Revenue from the commodities business of the Hong Kong Exchanges and Clearing (HKEX) was HK$1.44 billion ($183.5 million) in 2017, versus HK$1.56 billion in 2016, due to lower trading fees at its London Metal Exchange subsidiary, according to HKEX's financial report published on Wednesday February 28.Trading fees - which are the largest contributor to revenue for the LME - fell by 9% or HK$114 mil...Read More

Comex copper prices softened in the US morning on Wednesday February 28, with a stronger dollar and lower-than-expected Chinese data weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 3.10 cents or 1% to $3.1555 per lb. Earlier, the contract touched $3.1525, the lowest since February 13. Earlier this morning, China's manufa...Read More

The latest metal markets news and price moves to start the North American day on Wednesday February 28. Lead prices on the London Metal Exchange recorded the biggest drop during morning trading following a large stock delivery into LME warehouses. Some 12,375 tonnes were delivered into LME-listed warehouses in Antwerp - taking on-warrant stock levels to 20,250 tonnes. This is the largest lead infl...Read More

Lead prices on the London Metal Exchange recorded the biggest drop during morning trading on Wednesday February 28 following a large stock delivery into LME warehouses. Some 12,375 tonnes were delivered into LME-listed warehouses in Antwerp - taking on-warrant stock levels to 20,250 tonnes. This is the largest lead inflow into Antwerp since 19,900 tonnes were delivered on July 14, 2014. "The deliv...Read More

Key data from the Wednesday February 28 pricing session in Europe.Gallium Metal MB free market $/kg  Key drivers: - Suppliers are reluctant to sell on anticipation of higher prices in the near term, which means there is less metal available in the spot...Read More

The following Metal Bulletin minor metals prices changed on Wednesday February 28:Minor metals Antimony MB free market regulus, $/tonne: $8,650-8,800 per tonne from $8,500-8,800 Antimony MMTA standard grade II, $/tonne: $8,600-8,800 per tonne from $8,400-8,800 Cadmium MB free market min 99.95%, cents/lb: 135-145 cents per lb from 130-140 Cadmium MB free market min 99.99%, cents/lb: 140-155...Read More