Key data from the Wednesday January 16 pricing session in Europe. Key drivers Titanium markets in Europe have been low key but steady, with alloy dealers reporting increased volumes of business.The scrap markets were also steady, although there were conflicting reports on the availability of scrap, with one or two reporting tighter availability. However, other sources...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 16:Aluminium scrapGroup 1 pure 99% & litho: ?1,340-1,390 per tonne...Read More
Three-month base metals prices on the London Metal Exchange exhibited mixed movements while consolidating this morning, Thursday January 17. Copper, nickel, lead and zinc were down by between 0.1% and 0.5%, while aluminium and tin prices were up by 0.3% and 0.4% respectively. The three-month copper price was off by 0.1% at $5,973 per tonne.Volume across the LME base metals complex was above averag...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade. Index futures recovered slightly following release of economic news at 8:30 AM EST. Consensus for the January Philly Fed Manufacturing Index was an increase to 10.0 from 9.1 in December. Actual was 17.0. Consensus for Weekly Jobless Claims was 220,000 versus 216,000 last week. Actual was...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 15.Please click...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Tuesday January 15, with a continued uptrend in nickel and tin futures topping gains while zinc and lead prices edged lower. Supporting commodity investment, strong performances in both the Dow Jones Industrial Average and the S&P 500 Index over the afternoon fueled positive risk sentiment despite...Read More
The London Metal Exchange will launch a discussion paper proposing changes to current warehouse rules, including relaxing queue-based rent capping (QBRC) to 80 days, chief executive officer Matthew Chamberlain said. Speaking to Fastmarkets MB, Chamberlain said the proposals for change have been driven by the warehouses and the paper will be reviewed by the LME warehousing committee before it goes...Read More
UG2 chrome ore prices showed signs of improvement for the first time since October due to strengthening currencies in the week ended Friday January 11. UG2 prices tick up for the first time since OctoberChinese domestic ferro-chrome stalls, charge chrome inches lowerAlloy prices flat in Japan, South KoreaEuropean alloy prices under pressure UG2 chrome ore prices edged higher on Friday due to the...Read More
In China, the falling alloy market weighed on manganese ore prices, especially for lower-grade material, in the week ended Friday January 11, while the silico-manganese price in India increased. Price of 37% manganese ore, fob, falls by 35 cents per dmtuOre and alloy prices weaken in ChinaSilico-manganese price moves up in India, down in USAlloy prices in Europe unmoved78% FeMn market in US ticks...Read More
India aluminium producer Vedanta is set to increase its primary foundry alloy and aluminium silicon t-ingot production from 30,000 to 300,000 tonnes by the end of 2019.Vedanta is increasing its output after it expanded its billet production between 2016 and 2018 from 100,000 tonnes to 450,000 tonnes in the time period.The expansion is part of an effort to grow production across the company's vario...Read More
India aluminium producer Vedanta is set to increase its primary foundry alloy and aluminium silicon t-ingot production from 30,000 to 300,000 tonnes by the end of 2019.Vedanta is increasing its output after it expanded its billet production between 2016 and 2018 from 100,000 tonnes to 450,000 tonnes in the time period.The expansion is part of an effort to grow production across the company's vario...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday January 11.China ?EUR? The price for exported grade-553 silicon in China was unchanged for a sixth consecutive week amid thin inquiries.?EUR? Some Chinese exporters had raised their offer prices due to the strengthening of the yuan against the dollar, but no deals were concluded in the week ended Jan...Read More
The Turkish steel producers extended their absence from the deep-sea scrap markets on Tuesday January 15, while prices remained at their earlier levels, Fastmarkets has heard.Turkish mills booked some deep-sea cargoes last week from suppliers in the United States and the Baltic Sea region, at prices around $280 per tonne cfr for HMS 1&2 (80:20), to replenish their stock levels.Prices have remained...Read More
India aluminium producer Vedanta is set to increase its primary foundry alloy and aluminium silicon t-ingot production from 30,000 to 300,000 tonnes by the end of 2019.Vedanta is increasing its output after it expanded its billet production between 2016 and 2018 from 100,000 tonnes to 450,000 tonnes in the time period.The expansion is part of an effort to grow production across the company's vario...Read More
Comex copper prices bounced-back on Tuesday morning in the US amid news of another round of Chinese monetary stimulus arriving soon.The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained $1.75 cents to $2.6525 per lb. "We are seeing very quiet conditions across the markets today; base metals are mostly higher on account of news of fresh Chinese...Read More
Three-month base metals prices on the London Metal Exchange were firmer across the board this morning, Tuesday January 15, with prices up by an average of 0.3%. Bargain hunting stepped in to take advantage of Monday's price weakness and markets received a confidence boost after China cut some taxes.The three-month copper price on the LME was up by 0.4% at $5,934 per tonne, nickel and lead prices w...Read More
Flat steel import prices in the United Arab Emirates have been stable over the past week, with demand still weak, but in Saudi Arabia import prices for hot-rolled coil (HRC) fell, sources said on Tuesday January 15.Demand was subdued because stock levels in the UAE were already high and buyers have not started to place bookings in 2019, sources told Fastmarkets.UAEChina-origin HRC was on offer to...Read More
China's hot-rolled coil prices dropped on Tuesday January 15 on declining futures, though exporters maintained their high offers amid a stronger yuan.DomesticEastern China (Shanghai): 3,620-3,640 yuan ($535-538) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, down 30 yuan per tonnePrices in the spot market dropped after a weakening of the futures market durin...Read More
China's ferrous futures fell across the board during morning trading on Tuesday January 15 apart from the coke contract, which ended the session slightly higher.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,523 yuan ($521) per tonne, down 27 yuan per tonneMay hot rolled coil: 3,411 yuan per tonne, down 27 yuan per tonne Dalian Commodity Exchange May iron ore: 509....Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 15 that are worth another look.The London Metal Exchange will launch a discussion paper proposing changes to current warehouse rules, including relaxing queue-based rent capping to 80 days, chief executive officer Matthew Chamberlain said. Liberty Steel USA, a subsidiary of GFG Alliance, is considering exp...Read More