The volatility in manganese ore prices should rise in 2019 while increases in alloy smelting production and rail transportation capacity in China filter into the market, however, prices are expected to soften short term due to pressure from alloy smelters, market participants said.Higher volatility in the manganese ore price would represent a return to normality, with the last six months of 2018 u...Read More
Resurgent demand in China for aluminium was expected to increase prices for the metal in 2019, coming against restricted growth in supply volumes, analysts at BMO Capital Markets said this week.The London Metal Exchange 3-month aluminium price started trading in 2019 at $1,858.50 per tonne, the lowest level since February 2018.But prices could be due to rebound, BMO analysts including Colin Hamilt...Read More
The London Metal Exchange has altered its fee-cap structure to accommodate position transfers related to the United Kingdom's impending exit from the European Union (Brexit), in line with the requirements of its membership base, according to a note released to members on Tuesday January 8.Previously, the LME's position transfers, which are a common feature in exchange-traded derivatives markets an...Read More
Zinc came under pressure on the London Metal Exchange in morning trading on Thursday January 10, shrugging off continued market optimism about recent US-China trade talks.The three-month zinc price fell 1.2%, ignoring the continued drawdown of LME inventories - only 109,025 tonnes are now on-warrant. Additionally, the metal's cash/three-month spread remains in a backwardation of $21.50, narrowing...Read More
From 2019, Chinese central government regulators will begin a new round of environmental protection inspections in the country's metals and mining industry, which will take about four years to complete.The affected regions include all 31 provinces - including districts and cities - in China that were included in an earlier round of environmental inspections that took place over the past three year...Read More
Three-month base metals prices on the London Metal Exchange were for the most part little changed this morning, Thursday January 10. The exceptions were nickel that was up by 0.4% and lead that was up by 0.6%. The three-month copper price was up by 0.1% at $5,972 per tonne, with the high so far on Thursday being $5,985.50 per tonne.Volume across the complex has been average with 5,342 lots traded...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday January 10* Copper -$77.45 (-527.14 yuan) Aluminium -$344.77 (-2,346.49 yuan) Zinc $50.42 (343.19 yuan) Nickel -$222.29 (-1,512.88 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Trade log for nickel sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets MB pricesClick here for Fastmarkets MB's price assessment for...Read More
Prices for imported flat-rolled steel into the United States are falling amid questions about whether the market has bottomed or might see further declines.Hot-rolledFastmarkets AMM's price assessment for imported hot-rolled coil slipped to $650-700 per short ton ($32.50-35 per hundredweight) on Wednesday January 9 from $660-720 per ton previously.That range represents offers for material fro...Read More
Turkish billet prices in the domestic and import markets have gone down over the past week due to limited demand and weakening finished-steel values in the country's export market, sources said on Thursday January 10.Fastmarkets' weekly price assessment for billet imported into Turkey was $400-413 per tonne cfr on January 10, down from $405-425 per tonne last week.There was...Read More
Steel billet import prices into Egypt fell this week with lower offers, while local rebar prices remained unchanged, sources said on Thursday January 10.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $425-430 per tonne cfr on Thursday, falling from $435-440 per tonne cfr.Billet producers from the Commonwealth of Independent...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletCIS, export, billet, offered...Read More
Argentinian carmakers produced 20,475 vehicles in December, according to figures recently published by local manufacturers' association Adefa. Output was down by 38.50% from 33,280 units in the corresponding month of 2017.The output numbers in the Southern Hemisphere country decreased "as a result of the anticipation of summer holidays and the conditioning of plants for the execution of new invest...Read More
Some of China's domestic hot-rolled coil exporters have started to lower their offers unofficially after days of sparse trading with the aim of stimulating sales.DomesticEastern China (Shanghai): 3,640-3,650 yuan ($533-534) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,620-3,630 yuan per tonne, unchangedPrices in Shanghai dipped on Thursday January 10, with a source there telling Fa...Read More
Ferrous scrap sellers in the United States who were hoping for the traditional New Year price increase instead got a rude awakening, with the market suffering a major correction for the first time in January since 2006.After the market settled, shredded scrap, No1 busheling and cut grades fell by $30 per gross ton throughout the Midwest. With so much scrap unplaced and expectations by so...Read More
Consumer stainless scrap buying prices in the United States tumbled further this month, reflecting a depressed market with mills increasing discounts on nickel in the face of high inventories and softening demand."Nickel discounts are worsening every month," one major domestic processor said, referring to the nickel discounts established by mills in their monthly scrap purchases. Th...Read More
Iron ore prices were mixed on Thursday January 10 following news of the Chinese yuan's appreciation against the US dollar and reports of a port fire in Australia.MB 62% Fe Iron Ore Index: $73.36 per tonne cfr Qingdao, down $0.54 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.50 per tonne cfr Qingdao, down $0.54 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.17 per tonne cfr Qingdao, dow...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at the February...Read More
The downward momentum in the seaborne coking coal market weakened on Thursday January 10, with sellers standing firm by their offers.Cargoes of premium hard coking coal were heard offered at around $200-202 per tonne cfr China during the day, unchanged from those at the beginning of this week, according to various market sources.Various buyers in China have also submitted bids for premium mid-vol...Read More
China's coking coal and coke futures fell during morning trading on Thursday January 10, while other ferrous contracts were little changed.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,528 yuan ($516.50) per tonne, down 3 yuan per tonneMay hot-rolled coil: 3,433 yuan per tonne, up 1 yuan per tonneDalian Commodity Exchange May iron ore: 508 yuan per tonne, down 1 y...Read More