June 2012

CHINA STEEL WRAP: Market remains weak as transactions drop

China’s spot steel market remained slow on Monday June 25 with prices in major markets either flat or lower.

Spot 63.5% Fe iron ore prices flat on fewer enquiries

China’s imported iron ore market has lost its upward momentum as enquiries fall.

China’s May bismuth exports up 46%

China’s bismuth exports increased by 46% month-on-month in May, as a shipment delayed from April left the country.

LME ASIAN WRAP: Copper up on European growth package hopes

Copper prices on the London Metal Exchange rose from its open in early Asian trading on Monday June 25, after a group of four European countries agreed to push for a growth package, boosting investor sentiment.

Shanghai copper prices slide further as China's equities slump, dollar gains

Shanghai Futures Exchange copper prices slid further on Monday June 25 as China’s equities markets slumped while the safe-haven US dollar rebounded.

IRON ORE DERIVATIVES WRAP: Chinese holiday subdues market

With Chinese participants out of the market due to the Dragon Boat festival, the OTC iron ore market saw volumes fall back on Friday June 22.

LME BILLET REPORT: 3-month price range widens

The London Metal Exchange steel billet contract saw the official range for 3-month billet widen on Friday June 22, shifting to $385/405 per tonne from $385/395 per tonne the previous day.

COMMENT: LME's giant step towards Asia is just the start

The London Metal Exchange’s board took a giant step towards Asia earlier this month, and perhaps the biggest move in its history, when it approved the £1.39-billion ($2.2 billion) bid from the Hong Kong Exchange (HKEx).

MB ALUMINA INDEX: $314.50: Friday June 22

The Metal Bulletin fob Australia alumina index fell to $314.50 per tonne on Friday June 22, from $317.71 previously, as buying slowed ahead of the northern summer period.

Turkey's local rebar prices stabilise on increased buying, higher scrap

Prices for rebar in Turkey’s domestic market stabilised this week as domestic buying stepped up prior to Ramadan, market participants told Metal Bulletin.