The combination between Metinvest and Ilyich Iron & Steel is compelling. Metinvest brings its raw materials assets to the deal, and plans to invest a cool $2 billion in modernising and improving Ilyich’s facilities

Iron ore prices are weakening fast, with offer at $100 per tonne for 63.5% Fe content now failing to find buyers as high inventories and falling Chinese steel prices damage sentiment.

An escalation in the United States’ trade war with China, with another $200 billion of Chinese goods now potentially facing tariffs, has rattled base metals prices during early trading on Wednesday July 11.

Base metals traded on the London Metal Exchange are for the most part weaker this morning, Monday March 5, with the complex down by an average of 0.4%.

Base metals prices on the London Metal Exchange are up by an average of 0.5% this morning, Tuesday July 25. Tin is once again bucking the trend with prices off 0.3% at $20,190 per tonne, while the rest have gains of between 0.3% for aluminium and 0.9% for nickel and copper, with the latter at $6,088 per tonne basis three months.

Global ferrous scrap prices were mostly going higher during the working week ended Friday May 11 with prices beginning to climb out of the price trough.

China’s return to the market after a week-long break for Lunar New Year has not brought with it a rush to restock and that has led to some disappointed selling across the base metals traded on the London Metal Exchange, with the complex down by an average of 0.9% this morning, Monday February 11.

Base metals traded on the London Metal Exchange are up across the board by an average of 0.7% this morning, Monday November 13. Nickel prices are leading the way with a 2.3% gain, with tin prices up by 0.7% and three-month copper prices up by 0.5% at $6,828 per tonne, while the rest are up by 0.2%.

Three-month base metals prices on the London Metal Exchange were weaker on the morning of Thursday December 6, with the complex down by an average of 0.9%. Continued weakness in equities, bond yields and increased trade tensions between the United States and China seem to be weighing on sentiment.

A sharp increase in Turkish scrap import values pushed up scrap prices in the major markets during the working week from Monday July 24 to Friday July 28.