U.S.-Iran Resumed Negotiations, Oil Price Plunge Drove Overall Metal Market Up [SMM Imported Ore Daily Brief]

[Molybdenum News] SMM June 9 news: On June 8, a steel mill in east China set a ferro-molybdenum tender price of 313,500 yuan/mt by acceptance for 66 mt. Today, SMM will continue to monitor the bid opening prices of steel mills in Jiangsu, Shandong and other places.

SMM News Flash:  [Steel Billet] Today, billet export offers weakened, with offers at USD 470–474/t. According to feedback from several traders, the North African market is facing pressure from rising port and freight costs, but the overall impact remains limited. Market inquiries were relatively active, mainly from customers in South Asia and the Middle East. Recently, low-priced export billet transactions were concluded. [Thailand] Currently, the DDP price for cold-rolled substrate galvanizing in Thailand is 28.75 THB/kg. According to SMM’s latest survey, affected by weak procurement demand during the off-season, orders at local processing centers have recently shown a weakening trend, with actual transaction performance remaining weak. It is expected that prices will remain under pressure in the near term, and significant improvement in short-term trading will be difficult to see, pending the release of updated price adjustments by steel mills.

【SMM Steel】Jubilee Metals Group has resumed full capacity at its Roan concentrator in Ndola Zambia targeting monthly run-of-mine throughput of 30000 tonnes following scheduled annual maintenance. Upgrades include an expanded copper oxide flotation circuit designed to boost recovery efficiency by 5% offsetting higher transport costs. Jubilee also commissioned a new fine copper concentrate dewatering facility to manage a stream representing about 25% of Roan's feedstock copper with material transported to its Sable refinery in Kabwe. The company is also evaluating an additional DMS circuit to potentially expand throughput.