The seaborne iron ore market picked up after the May 1 public holiday, following the announcement by steel mills of price hikes for early May shipments. Metal Bulletin 62% Fe Iron Ore Index: $66.98 tonne cfr Qingdao, up by $1.55 per tonne Metal Bulletin 58% Fe Premium Index: $55.94 per tonne cfr Qingdao, up by $0.46 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.30 per tonne cfr Qi...Read More
Holidays in Turkey and across much of Europe for the traditional May 1 Labor Day meant that there was little change in prices for Turkish imports of deep-sea scrap from European and US suppliers, sources said on Tuesday May 1.Renewed business activity is expected later in the week when traders return to work, they added.Market sentiment is cautious about how much more prices may increase in the ne...Read More
The seaborne coking coal spot market was stable on Wednesday May 2, although market sentiment was generally more positive."The market had earlier fallen too much, and this is a normal correction," a trading source said. Premium low-vol cargoes with May and June laycan were heard offered against index with 4% premium, according to a northeastern end user. "We haven't started offering yet...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 transactions: iron oreIron oreRio Tinto, tender, 170,000 tonnes of...Read More
Comex copper prices bounced-back Wednesday morning in the US with the complex oversold after a five-day rout.Copper for July settlement on the Comex division of the New York Mercantile Exchange recovered 3.05 cents - or 1% - to $3.0680 per lb. "We are seeing a slight bounce in metals prices today, partly...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday May 2*Copper -$74.53 (-475.02 yuan) Aluminium -$498.71 (-3,178.71 yuan) Zinc -$33.53 (-213.7 yuan) Nickel -$259.31 (-1,652.79 yuan) *Metal Bulletin calculates the physical arbitrage for import...Read More
Nickel premiums across all locations remained little changed in the week ending May 1, with national holidays leading to a quiet market. European premiums steady with lack of demand Thin market due to Labour Day holiday in China US firm for the seventh consecutive weekEuropean premiums stable in quiet market Metal Bulletin's European nickel premiums were stable on Tuesday, with a lack of tra...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Base metals prices on the London Metal Exchange were for the most part firmer on the morning of Wednesday May 2, with five of the six base metals showing gains averaging 0.6%, while tin bucked the trend with a 0.1% decline. Copper led on the upside with a 1% gain to $6,816 per tonne.Volume on the LME has rebounded with the return of Chinese participants following public holidays in China on Monday...Read More
China's crude stainless steel output rose 6.5% in the first quarter of 2018, while both exports and imports also increased in the period.The country produced 6.53 million tonnes of crude stainless steel, up 399,000 tonnes from an adjusted 6.13 million tonnes in the first three months of last year, according to data released by the China Stainless Steel Council late on Friday April 27.Mills raised...Read More
All MB non-ferrous UK scrap and foundry ingot prices were unchanged on Wednesday May 02.NB: prices...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
Zinc Mcx – Zinc SELL Call 740 given at price 206.55 Achieved 2nd Target 205.10. CMP 204.90. Total Profit of 1.45 x 2 lot = 2.9 PointsTIPS ID 740 : Zinc Calls - SELL Zinc at CMP 206.55 for Target 205.70 - 205.10 with SL Above price 207.35. RISK taker trade 2 lotsAFTER POST CONTENT Read More
Zinc Call – BUY Zinc at CMP 205.85 for Target 206.85 – 207.60 with SL Below price 204.80AFTER POST CONTENT Read More
Zinc Free Call – Zinc Mcx Sell call 740 given at price 206.55 Achieved 1st Target 205.70. Made 205.30 low. Total profit of 0.85 x 2 lot = 1.7 Points740 : Zinc Calls - SELL Zinc at CMP 206.55 for Target 205.70 - 205.10 with SL Above price 207.35. RISK taker trade 2 lotsAFTER POST CONTENT Read More
Zinc Today – Zinc SELL Cal l740 given at price 206.55. CMP 206. Low risk taker book 0.55 x 2 lot = 1.10 Points740 – Zinc Calls - SELL Zinc at CMP 206.55 for Target 205.70 - 205.10 with SL Above price 207.35. RISK taker trade 2 lotsAFTER POST CONTENT Read More
Zinc Calls – SELL Zinc at CMP 206.55 for Target 205.70 – 205.10 with SL Above price 207.35. RISK taker trade 2 lotsAFTER POST CONTENT Read More
Nickel Today – SELL Nickel if Price at CMP 916 for Target 910 – 902 with SL Above price 924AFTER POST CONTENT Read More
WASHINGTON (Reuters) - U.S. Trade Representative Robert Lighthizer said on Tuesday it was not his objective to change China’s economic system, but he would try to find ways to limit the damage it causes to the United States and open it further for U.S. companies.Speaking at the U.S. Chamber of Commerce ahead of his participation in a Trump administration trade delegation to China later this...Read More