SHANGHAI, May 2 (SMM) – China's import of ternary precursors in February grew 24% month on month but fell 38% on the year, according to data from China Customs. China imported about 132 mt of ternary precursors in February. Average import prices fell 3% from January as a batch of low-priced scrap was included in February's imports and this lowered overall prices. The F...Read More
SHANGHAI, May 2 (SMM) – Imported copper concentrate traded actively as smelters saw stronger demand for stockpiling in the second quarter of the year, SMM learned. Traded prices of treatment charges (TCs) mostly stood at $73-76/mt, according to members of the China Smelters Purchase Team (CSPT).Market participants took a pessimistic outlook on TCs in the second half of the ye...Read More
SHANGHAI, May 2 (SMM) –Copper: LME copper fell under the pressure of stronger US dollar during the Labour Day holiday. Technically, it now stands below all moving averages and without support. We expect it to trade at $6,740-6,800/mt today with the SHFE 1806 copper at 51,000-51,500 yuan/mt. Spot discounts are seen at 100-50 yuan/mt with May invoices.Aluminium: LME aluminium is expe...Read More
SHANGHAI, May 2 (SMM) –Copper: LME copper fell under the pressure of stronger US dollar during the Labour Day holiday. Technically, it now stands below all moving averages and without support. We expect it to trade at $6,740-6,800/mt today with the SHFE 1806 copper at 51,000-51,500 yuan/mt. Spot discounts are seen at 100-50 yuan/mt with May invoices.Aluminium: LME aluminium is expe...Read More
SHANGHAI, May 2 (SMM) – Spot copper in the Shanghai market was offered at a discount of 20 yuan/mt to a premium of 20 yuan/mt against the SHFE 1805 contract on the morning of Wednesday May 2, SMM learned. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@smm.cn Read More
The Argentinian government has agreed to quotas on steel products exported to the United States, thus avoiding tariffs associated with the US' Section 232 investigation, according to national steel association Acero Argentino.The country agreed to limit exports of steel products to the US to 180,000 tonnes per year, based on the average of steel exports during the past three years plus an addition...Read More
SHANGHAI, May 2 (SMM) –Copper: LME copper fell under the pressure of stronger US dollar during the Labour Day holiday. Technically, it now stands below all moving averages and without support. We expect it to trade at $6,740-6,800/mt today with the SHFE 1806 copper at 51,000-51,500 yuan/mt. Spot discounts are seen at 100-50 yuan/mt with May invoices.Aluminium: LME aluminium is expe...Read More
Domestic prices for hollow steel sections edged downward slightly across Europe this week because public holidays reduced trading activity, market sources told Metal Bulletin on Wednesday May 2.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe went down by ?,?5 per tonne to ?,?655-660 ($788-794) per tonne delivered on May...Read More
The Argentinian government has agreed to quotas on steel products exported to the United States, thus avoiding tariffs associated with the US' Section 232 investigation, according to national steel association Acero Argentino.The country agreed to limit exports of steel products to the US to 180,000 tonnes per year, based on the average of steel exports during the past three years plus an addition...Read More
China could be badly affected by a shrinking import market for hot-rolled coil in Vietnam once Formosa Ha Tinh Steel fires up its new blast furnace this month, market sources told Metal Bulletin this week.Formosa Ha Tinh plans to increase its mill operating rates to "high" levels once its fires up its new 4,300 cubic meter No2 blast furnace in mid-May, a source told Metal Bulletin this week."...Read More
Cobalt prices fell on Wednesday May 2 for the first time since October, with the potential bullish impact of legal action against Glencore by Dan Gertler insufficient to offset greater competition to secure spot sales in the immediate term. Metal Bulletin assessed low-grade cobalt prices at $43.50-44.25 per lb in-warehouse on Wednesday, down 0.5% from $43.70-44.45 per lb previously. High...Read More
Domestic prices for cold-rolled coil (CRC) in Europe have been largely stable over the past week, sources told Metal Bulletin on Wednesday April 25.The market has been in "wait-and-see" mode with participants waiting for a final decision from the United States about its Section 232 import tariffs and an expected announcement arising from a safeguard case in the EU, sources said."There is a little...Read More
Base metals on the London Metal Exchange were split at the close of trading on Wednesday May 2, with aluminium and nickel prices climbing more than 2%. Aluminium's three-month price made the largest gains over the afternoon, reaching a high of $2,330 per tonne and closing 2.6% higher. Despite continued volatility, the price has held above $2,200 per tonne.News today of the United States' extension...Read More
Prices for Iranian exports of steel billet and slab decreased somewhat in the week ended Wednesday May 2 with customers targeting lower prices because of the unstable conditions in the global billet market.Metal Bulletin's weekly price assessment for Iranian billet exports was $480-500 per tonne fob on May 2, against $495-505 per tonne fob a week earlier.Recent bookings of Iranian billet were repo...Read More
The latest metal markets news and price moves to start the North American day on Wednesday May 2. Base metals prices on the London Metal Exchange were mostly up during morning trade, after participants in China and Europe returned from public holidays to boost volumes and prices. "The much anticipated return of the Chinese traders had the desired and expected effect as value bids helped bolster pr...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Wednesday May 2.Base metal prices on the Shanghai Futures Exchange were broadly down during trading on Wednesday after the dollar strengthened significantly on Tuesday.Aluminium prices were also under pressure from easing supply concerns following the latest sanction and trade policy devel...Read More
Metals market veteran Michael Hutchinson has joined the board of Switzerland-based Tiberius group as non-executive chairman, Tiberius told Metal Bulletin on Wednesday May 2. "Mike is an experienced and very successful metal man who will help us achieve our ambitious growth targets," Chris Eibl, founder and chief executive office of Tiberius, said. "He has tremendous amounts of knowledge in all are...Read More
Zug-based AMR Trading has named ex-Rusal executive Alex Tattersall its new chief executive officer, while Vitaly Sidorov has taken the helm of parent company AMR-BK Group, which owns aluminium sheet and plate plant Belaya Kalitva in Russia. Tattersall, who left UC Rusal last month amid US sanctions imposed on the Russian producer, has overall sales and marketing responsibility for all exports...Read More
China could be badly affected by a shrinking import market for hot-rolled coil in Vietnam once Formosa Ha Tinh Steel fires up its new blast furnace this month, market sources told Metal Bulletin this week.Formosa Ha Tinh plans to increase its mill operating rates to "high" levels once its fires up its new 4,300 cubic meter No2 blast furnace in mid-May, a source told Metal Bulletin this week."...Read More
Base metals on the London Metal Exchange were split at the close of trading on Wednesday May 2, with aluminium and nickel prices climbing more than 2%. Aluminium's three-month price made the largest gains over the afternoon, reaching a high of $2,330 per tonne and closing 2.6% higher. Despite continued volatility, the price has held above $2,200 per tonne.News today of the United States' extension...Read More