The UK inter-merchant price range for austenitic alloy steel fell by ?10-20 per tonne this week, with the nickel price softening over the week, sources said on Friday February 23.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-990 ($1,322-1,378) per tonne delivered on Friday, compared with ?960-1,010 per tonne on February 16."While the scrap pric...Read More

Prices for containerized imports of ferrous scrap arriving to India increased again on Friday February 23 amid solid demand from mills and buoyed by the recovery in the Turkish import market, sources told Metal Bulletin."The Chinese market opened up well, Turkey is going well, so I see no reason there can't be another $5 per tonne on the price," one trader said. "In the last two weeks, local India...Read More

Turkish steel producers have continued their deep-sea scrap purchasing at largely steady prices, sources said on Friday February 23.The mills in the country initially booked three deep-sea cargoes on February 22, after which three more deals were heard late in the day.A steel producer in the Izmir region booked a Baltic Sea cargo, comprising 14,000 tonnes of HMS 1&2 (80:20) at $358 per tonne, 14,0...Read More

The export market for Brazilian pig iron was still subdued this week, with no deals being reported.Metal Bulletin's weekly price assessment for Minas Gerais-origin pig iron exports was stable week on week on Friday February 23 at $375-380 per tonne fob, due to the lack of export offers."Producers in Brazil's [south-eastern] Minas Gerais state are now focused on supplying the domestic market, as a...Read More

Good morning from Metal Bulletin's London office, bringing you the latest news and pricing stories on Friday February 23.Base metals prices on the London Metal Exchange dipped across the board during morning trading, with prices awaiting further direction to move higher.Here's how base metals prices looked at 11:28am London time: Read our live futures report here."Thursday's intraday price dips on...Read More

Iron ore prices strengthened on Friday February 23 amid expectations of a possible extension of production limits in China beyond the country's winter heating season, which ends in mid-March. Metal Bulletin's 62% Fe Iron Ore Index Today: $78.82 per tonne cfr Qingdao Daily change: up by $0.62 per tonne Month-to-date average: $77.04 per tonne Metal Bulletin's 58% Fe Premium Index Today: $61.36 per t...Read More

Wieland Group will strengthen its position as Europe's largest semi-finished copper products producer by acquiring Aurubis' rolled-products division later this year, yet the deal is intended to kickstart growth in the US and Asian markets, chief executive officer Erwin Mayr told Metal Bulletin. The two German companies said they were in talks over the acquisition, which will see Wieland take on a...Read More

Seaborne coking coal prices were firm on Friday February 23 even though concerns about weather-related disruptions to rail services in Queensland, Australia, were allayed. Rail freight operator Aurizon said during the day that Goonyella rail system had re-opened on Thursday evening and that the remainder of the Central Queensland Coal Network remained open and operational. But market sources said...Read More

Deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses all rose in the short trading week to Friday February 23, except for nickel and tin which saw a very slight decline.Copper stocks increased 20,773 tonnes to 218,532 tonnes between Thursday and Friday, up 10.5% compared to 197,759 tonnes on Wednesday February 14, the last trading day before the Lunar New Year holidays.T...Read More

The seaborne iron ore market received some stimulation on Friday February 23 despite limited trading activity, after plans to extend production restrictions in Tangshan beyond the winter heating season emerged.Key drivers Tangshan's municipal government is seeking feedback from market participants about a plan requiring mills under its jurisdiction to lower the production rates of their blast furn...Read More

The European antimony market continued to push higher last week amid tightening Rotterdam supplies despite China's absence from the market for the Lunar New Year holiday.Metal Bulletin assessed MMTA standard-grade II antimony in-warehouse Rotterdam prices at $8,400-8,800 per tonne on Friday February 23, unchanged from Wednesday when prices had climbed from $8,400-8,700 per tonne.Trioxide-grad...Read More

The following Metal Bulletin minor metals prices changed on Friday February 23:Minor metals Cadmium MB free market min 99.95%, cents/lb: 130-140 per lb from 125-140 Cadmium MB free market min 99.99%, cents/lb: 135-155 per lb from 122-155 Chromium MB free market alumino-thermic, $/tonne: $10,000-10,500...Read More

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

Key data from the Friday February 23 pricing session in Shanghai.Cobalt Metal MB China domestic min 99.8% RMB/tonne  Key drivers: - The Metal Bulletin China cobalt metal price rose to 600,000-640,000 yuan per tonne (equivalent to $36.63-39.07 per lb ex-China VAT) on February 23, up 3.3% from its previous reading. - Chinese cobalt metal prices are playing catch-up after the Lunar New Year...Read More

The base metals complex on the London Metal Exchange is mixed this morning, Friday February 23, with prices down by an average of 0.2%. Zinc prices lead the decline with a 0.8% fall to $3,501 per tonne, copper and nickel prices are off by 0.4% with the former at $7,143 per tonne, aluminium prices are bucking the trend with a 0.4% rise, while the rest are little changed. Volume has returned to arou...Read More

There was little activity in China's domestic stainless steel market over the past week due to the Chinese New Year, which has resulted in supply pressures increasing.Traders were offering stainless cold-rolled coil at 14,800-15,500 yuan ($2,329-2,439) per tonne, the same level as offers made before the February 15-21 Chinese New Year break, market sources said. No transactions were heard on Thurs...Read More

The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday February 23:Aluminium ingot Duty paid delivered works...Read More

Shares in Canada's Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) got a boost Friday after the company announced it was on track to pour first gold at its Ity mine in Ivory Coast by mid-2019.Company is building a plant that will add 14 years of productive life to its Ivory Coast-based gold mine.The West Africa-focused firm said the $412-million construction project to upgrade Ity remained on-time and o...Read More

Tahoe Resources (TSX:THO)(NYSE:TAHO) lost $18 million, or 6 cents per share, in the fourth quarter of 2017 due to the ongoing shutdown of its flagship Escobal silver mine, in Guatemala.The Reno, Nevada-based company said adjusted loss was $17.7 million, which dramatically contrast with the $18.4 million profit logged a year ago.Net earnings for the whole year were also affected, with the miner po...Read More

Mining giant Rio Tinto (LON, ASX:RIO) will seek approval to build a power plant at its giant Oyu Tolgoi copper and gold mine in Mongolia and so comply with a 2009 investment agreement that calls for local suppliers to power the operation.The move, however, would add further costs to an ongoing $5.3 billion underground expansion of the mine, said Oyu Tolgoi LLC, Mongolia's largest copper and gold...Read More