U.S. equity index futures were higher this morning. S&P 500 futures slipped 2 points in pre-opening trade. European Central Bank announced that it maintained interest rates at current rates.Index futures moved lower following release of the Weekly Jobless Claims report at 8:30 AM EST. Consensus was an increase to 218,000 from 213,000 last week. Actual was 199,000.Canadian Pacific (CP $261.91 C...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday January 22, with gains limited by continued strength in the US dollar index, while low stocks and positive fundamentals failed to spur upward movements in prices.Aluminium futures continued to lead the complex in volumes traded over the afternoon, ending the day with more than 17,000 lots changing...Read More
Comex copper opened the four-day working week in the United States on weak footing on Tuesday January 22 morning, with the market awaiting clarification on US-China trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange tumbled $5.70 cents to $2.6620 per lb. There is a four-day week in the US this week following a public holiday for Martin...Read More
Fastmarkets MB has today discontinued four weekly tin spot premium assessments in Rotterdam, Singapore and Shanghai due to a lack of spot liquidity. The decision follows a month-long consultation period which did not receive any feedback. Therefore, Fastmarkets MB has discontinued the 99.85% tin ingot premiums in-warehouse Rotterdam and cif Shanghai and the 99.9% tin ingot premiums for standa...Read More
A flurry of demand ahead of the Chinese New Year holiday is providing support to import prices for UG2 chrome ore.A flurry of demand ahead of the Chinese New Year holiday is providing support to import prices for UG2 chrome ore. UG2 chrome ore climbs by $1 Domestic spot ferro-chrome prices holds in China; flat February tenders predicted Alloy prices soften in South Korea but unchan...Read More
Aggressive bidding and lower offer prices weighed on manganese ore prices in China, where inventories also fell sharply in the week ended Friday January 18. Manganese ore prices in China continue to fall Manganese ore stocks in China slump Ferro-manganese prices in Europe, China drop Silico-manganese price fob India falls Alloy prices stable in United States The manganese...Read More
The domestic ferro-silicon market in China recovered over the past week in line with tighter supply of the alloy. In Europe, ferro-silicon prices fell to lows last seen in August 2017 after suppliers reduced their offer levels to stimulate business in a slow spot market. Chinese domestic market bounces as supply tightens but production restarts may hamper recoveryEuropean market seen stabilizing i...Read More
The Fanya Exchange will auction 34.64 tonnes of indium stocks it holds in its warehouse at the end of the month, market sources told Fastmarkets on Tuesday January 22. Of the auctioned volume, 7.6 tonnes are stored in a Kunming warehouse of Changyue Feiping, a Chinese storage and logistics company, while the remaining 27.04 tonnes are in a local warehouse of Yunnan Postal Savings Bank. The stocks...Read More
The Turkish steel producers continued to show very little interest in deep-sea scrap trades because of the weak demand for finished steel in the country's export and domestic markets, sources said on Tuesday January 22.Although some mills have booked a few cargoes to replenish stocks over the past week, with escalating prices, most mills were trying to avoid scrap purchases until they see a recove...Read More
Comex copper opened the four-day working week in the United States on weak footing on Tuesday January 22 morning, with the market awaiting clarification on US-China trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange tumbled $5.70 cents to $2.6620 per lb. There is a four-day week in the US this week following a public holiday for Martin...Read More
Once again the upside initiatives in three-month base metals prices on the London Metal Exchange have run into overhead resistance, with the complex down by an average of 0.4% this morning, Tuesday January 22.Other commodity prices have also shown weakness, which we put down to the focus of slower global growth after the International Monetary Fund (IMF) lowered its global growth outlook to 3.5% i...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly unchanged over the past week, with demand remaining soft, sources said on Tuesday January 22. But import offer prices for hot-dipped galvanized coil have slumped.Demand was subdued because stock levels in the UAE were already high and buyers have not yet started to place bookings in 2019, sources told Fastmarkets.In...Read More
The export market for hot-rolled coil (HRC) from the Commonwealth of Independent States (CIS) has rebounded because if lower availability of material, sources told Fastmarkets MB on Monday January 21.Buyers are in the market for material but steel mills in the region are sold out for February production, a trader from the Middle East-North Africa (Mena) region said, which is putting upward pressur...Read More
The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow remained inactive in the week ended January 21 due to seasonally weak end-user demand.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was at 39,200-40,000 roubles ($588-600) per tonne cpt Moscow on Monday January 21, including 20% VAT, slightly widening upward from...Read More
The domestic price for rebar in the United Arab Emirates fell this week on continued moderate demand, sources told Fastmarkets on Tuesday January 22.Domestic rebarLocal rebar producers in the UAE announced reduced prices for material due to be shipped in February on January 21. The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, down from...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE, domestic (Emirates Steel), rebar, offered at 1,845 dirhams ($502) per tonne ex-works, February...Read More
The rebar market in Russia's Central Federal District around Moscow, the major steel-consuming region in the country, remained weak and calm due to seasonally low demand this week.Fastmarkets' weekly assessment of the domestic price for Russian 12mm A500C rebar, including 20% VAT, was 35,000-35,500 roubles ($524-532) per tonne cpt Moscow on Monday December 21, widening downward from 35,500 roubles...Read More
The Turkish steel producers continued to show very little interest in deep-sea scrap trades because of the weak demand for finished steel in the country's export and domestic markets, sources said on Tuesday January 22.Although some mills have booked a few cargoes to replenish stocks over the past week, with escalating prices, most mills were trying to avoid scrap purchases until they see a recove...Read More
Seaborne iron ore prices dipped below $75 per tonne cfr China on Tuesday January 22 after briefly standing above the mark, with plenty of offers in the market unbid for.MB 62% Fe Iron Ore Index: $74.78 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.62 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.78 per tonne cfr Qingd...Read More
Summary of BHP's production results for the three months ended December 31, 2018.(year-on-year change)Copper416,000 tonnes, -3%Iron ore58 million tonnes, -6%Iron ore...Read More