With Low Aluminum Prices, Where Are Chinese Capacity Closures?

by Stuart Burns May 17, 2012 Metal Prices

Widespread expectations that rising power costs and a falling aluminum price would force smelter closures and hence support the price have so far proved ill-founded. Power costs have remained high, even though oil prices have come off a little, and smelters (particularly in China) were estimated to be below the cost curve as the primary [...]

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Afghanistan Another Target for India’s Raw Material Hunt

by TC Malhotra May 17, 2012 Commodities

In Part One, we explored India’s interest in Mongolia’s natural resources. Media reports suggest that a consortium of four state-owned Indian companies comprising SAIL, Nalco, Hindustan Copper and Mineral Exploration Corp. has been shortlisted last month to invest in new gold and copper deposits in Afghanistan. Two private players — Monnet Ispat & Energy and [...]

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Daily Precious Metals Roundup: Chinese Silver, Gold Price Fall

by MetalMiner IndX Reports May 16, 2012 Metal Prices

Chinese silver saw a three percent drop on May 15, 2012, landing at CNY 5,895 ($932) per kilogram and making it the biggest mover of the day. At JPY 718.00 ($9.00) per 10 grams, Japanese silver fell 2.7 percent on Tuesday. The price of US silver declined 0.6 percent to $28.17 per ounce. Indian silver [...]

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Renewables MMI®: US Steel Plate Tumbles a Bit

by MetalMiner IndX Reports May 16, 2012 Ferrous Metals

After falling 1.1 percent, US steel plate was the week’s biggest mover on the Renewables MMI®. The US grain-oriented electrical steel (GOES) price remained essentially flat from the previous week. Closing just above $950 per metric ton, Korean steel plate remained unchanged for the week. Japanese steel plate prices held steady from the previous week [...]

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Daily Global Aluminum Prices Roundup – LME, SHFE Drops

by MetalMiner IndX Reports May 16, 2012 Metal Prices

With a decline of 0.5 percent on the LME to $1,982 per metric ton on May 15, 2012, the cash price of primary aluminum recorded the biggest shift of the day on global aluminum markets. The LME 3-month price of primary aluminum saw a 0.5 percent decline as well, to $2,021 per metric ton. The [...]

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Daily Stainless Steel and Nickel Price Update – May 16, 2012

by MetalMiner IndX Reports May 16, 2012 Ferro Alloys

With a decline of 0.8 percent on May 15, 2012, the price of Chinese primary nickel recorded the biggest shift of the day on the stainless market. The price of Chinese 304 stainless steel scrap remained essentially flat between $2,900 and $2,950 per metric ton. The price of Chinese 316 stainless steel scrap held steady [...]

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Daily Copper Roundup: Chinese Bright Scrap Price Falls 5%

by MetalMiner IndX Reports May 16, 2012 Metal Prices

The day’s biggest price mover on copper markets, Chinese bright copper scrap, broke away from its dormant phase with a 4.8 percent drop on May 15, 2012, after three changeless days. Meanwhile, the price of Chinese copper wire fell 1.7 percent. Chinese copper bar stayed flat, holding below $9,200 per metric ton. The Chinese primary copper [...]

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Construction MMI®: US Gulf Coast Bar Fuel Surcharge Down Again

by MetalMiner IndX Reports May 16, 2012 Commodities

The week’s biggest mover on the Construction MMI® was the weekly US Gulf Coast bar fuel surcharge, which saw a 2.4 percent decline to $0.54 per short ton. Last week marked the fourth in a row of declining prices for the metal. Closing out the third week of declining prices, the weekly US Midwest bar [...]

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