Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday December 26.Base metals prices on the Shanghai Futures Exchange were on divergent paths during Asian morning trading on Wednesday December 26, with aluminum registering the largest gain on news of further capacity cuts in China. Check Fastmarket MB's live futures report here. Ferro-c...Read More
Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...Read More
Since its merger with Xstrata, Glencore - previously a trading and marketing firm - has become a mining firm whose earnings before interest, taxes, depreciation and amortization is dominated by earnings from its industrial activities. The recent appointment of Peter Freyberg as head of the company's industrial mining assets, a newly created position with oversight and responsibility for all Glenco...Read More
Base metals prices on the Shanghai Futures Exchange were on divergent paths during Asian morning trading on Wednesday December 26, with aluminum registering the largest gain on news of further capacity cuts in China.The most-traded February aluminium contract on the SHFE stood at 13,860 yuan ($2,011) per tonne as at 10.12am Shanghai time, up by 70 yuan per tonne from Tuesday's close.The increases...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized (HDG) coil edged up during the week ended Wednesday December 26 following a two-week decline, with most mills no longer in a rush to secure overseas sales.Major mills in China generally lowered their asking prices for both products, but only accepted smaller discounts on their offers for confirmed bookings, in contrast to t...Read More
China's hot-rolled coil prices were little changed on Wednesday December 26 both domestically and in the export market amid sparse trading.DomesticEastern China (Shanghai): 3,720-3,750 yuan ($540-544) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 3,650-3,660 yuan per tonne, narrowing downward 10 yuan per tonneWhile prices in Shanghai were as high as 3,740-3,750 yuan per...Read More
The latest news and price moves to start the Asian day on Thursday December 27.The London Metal Exchange will reopen Thursday following a two-day break in trading - for Christmas and the annual Boxing Day holiday.Here is how prices looked at the most-recent close of trading, on December 24:Chinese battery materials producer GEM has signed a memorandum with South Korea's Ecopro to supply the latter...Read More
The past 12 months have served as a reality check for the battery raw materials markets.While 2017 was a year of soaring prices and investor interest, 2018 has seen supply responses, substitution debates, and at times, plummeting prices. It's not that the fundamentals aren't still strong. By 2025, Fastmarkets' forecast is for plug-in electric vehicle (EV) sales to grow at a compound annual growth...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday December 26.Base metals prices on the Shanghai Futures Exchange were on divergent paths during Asian morning trading on Wednesday December 26, with aluminum registering the largest gain on news of further capacity cuts in China. Check Fastmarket MB's live futures report here. Ferro-c...Read More
Base metals prices on the Shanghai Futures Exchange were on divergent paths during Asian morning trading on Wednesday December 26, with aluminum registering the largest gain on news of further capacity cuts in China.The most-traded February aluminium contract on the SHFE stood at 13,860 yuan ($2,011) per tonne as at 10.12am Shanghai time, up by 70 yuan per tonne from Tuesday's close.The increases...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
China's rebar prices were unchanged on Wednesday December 26 both in the domestic and the export market, aslower billet charges offset higher futures prices. Domestic Eastern China (Shanghai): 3,740-3,780 yuan ($543-548) per tonne, unchangedNorthern China (Beijing): 3,610-3,650 yuan per tonne, unchangedTangshan billet prices decreased 40 yuan per tonne to 3,350 yuan per tonne on weak dem...Read More
New Turkish flat steel producer Yildiz Iron and Steel started production of cold rolled coil (CRC) in early December, the company said last week.The mill has capacity for 1.5 million tonnes per year (tpy) of CRC at its facility in Kocaeli, close to Istanbul.Yildiz Iron & Steel...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: rebarRebar East China, domestic, grade...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...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. Iron oreBeijing Iron Ore Trading Center (Corex), joint cargo, 50,000 tonnes of 61% Fe Jimblebar fines and 120,000...Read More
China's ferrous futures stayed rangebound in morning trading on Wednesday December 26 amid a lingering holiday atmosphere.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,407 yuan ($494) per tonne, up 5 yuan per tonne May hot rolled coil: 3,366 yuan per tonne, unchanged Dalian Commodity Exchange May iron ore: 490 yuan per tonne, up 1 yuan per tonne May coking coal: 1...Read More
Comex copper prices recovered during mid-week trading, with shallow trading temporarily benefiting the base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose 3.75 cents to $2.6985 per lb.Markets are expected...Read More