Import prices for rebar and billet in the United Arab Emirates (UAE) were stable this week although demand was weak, sources told Fastmarkets MB on Tuesday December 18.Domestic rebarThe country's largest producer, Emirates Steel, was still offering rebar at 2,016 dirhams ($549) per tonne ex-works for December production while Conares Steel was offering rebar at 1,990 dirhams per tonne on the same...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: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil, offered at $530 per tonne cfr, to Saudi Arabia.India, export, hot-rolled coil, offered at $540-550 per tonne cf...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarOman, export, rebar, offered at $520-530 per tonne cfr, theoretical weight,...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet CIS, export, billet,...Read More
The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow remained weak on Monday December 17 due to seasonally low demand in the winter season. Since November 10, there have been production problems at the largest supplier into Russia, Kazakhstan's ArcelorMittal Temirtau, after a gas pipeline explosion at the plant. But the o...Read More
Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) were mostly stable over the past week due to limited demand near year-end as well as high stocks, sources said on Tuesday December 18. Demand was subdued because buyers expect prices to fall further and stock levels in the UAE are already high, sources told Fastmarkets MB. UAE Chinese offers for hot-rolled coil (HRC) into...Read More
Turkish scrap import prices continued to fall on Tuesday December 18, reflecting the slightly lower offers that mills received from Baltic Sea suppliers, sources said.Several sources reported at the start of this week suppliers in the Baltic Sea region were offering HMS 1&2 (80:20) at $300-305 per tonne cfr. But some offers for the same material were heard at $290-295 per tonne cfr on Tuesday.In r...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, Global Ore, 170,000...Read More
Seaborne iron ore prices fell below $70 per tonne cfr China on Tuesday December 18 amid expectations of more stringent implementation of steelmaking restrictions in China.MB 62% Fe Iron Ore Index: $69.03 per tonne cfr Qingdao, down $1.44 per tonne. MB 62% Fe Pilbara Blend Fines Index: $68.83 per tonne cfr Qingdao, down $1.44 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $71.58 per tonne cfr Qin...Read More
The seaborne coking coal spot market was largely stable on Tuesday December 18 with offers not deviating too far from recently transacted prices.Top Australian brands were heard offered around $210-212 per tonne cfr China while a cargo of second-tier hard coking coal was heard offered around $197 per tonne cfr China."There may be some interest for [seaborne coking coal] cargoes arriving in Decembe...Read More
China's iron ore futures bucked the downtrend seen across the rest of the ferrous futures market during morning trading on Tuesday December 18 amid relative stability in the physical prices for the steelmaking raw material in recent days.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,399 yuan ($493) per tonne, down 24 yuan per tonne May hot-rolled coil: 3,416 yuan...Read More
The Comex copper price tumbled to a multi-week low in morning trading on Tuesday December 18, with reduced liquidity, trade war fears and questions about US monetary policy pressuring the price lower.The copper price for March settlement on the Comex division of the New York Mercantile Exchange tumbled 5.35 cents to $2.7010 per lb. The contract hit a low of $2.6930 per lb, its weakest since Novemb...Read More
A few years ago, Standard Chartered made a decision to integrate itself more fully into the supply chains of its clients. The goal: use technology to connect into its clients' ecosystems, upending the traditional model of banking services."There was a realization a few years ago that businesses are evolving and they're evolving quite rapidly - we've seen that in a number of industries and there's...Read More
The three-month base metals prices on the London Metal Exchange were for the most part little changed this morning, Tuesday December 18. The exceptions were copper and tin that were both down by 0.4%, with copper at $6,104.50 per tonne.The rest were either unchanged or up between 0.1% and 0.2%. Considering the weakness in US equity markets on Monday, it is surprising that the metals have not been...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday December 18.Base metals prices on the Shanghai Futures Exchange had a mixed start on Tuesday, with market participants remaining cautious ahead of a major speech by Chinese President Xi Jinping. Copper prices were little changed, aluminium and zinc prices edged up, while the rest of th...Read More
The Chinese ferro-silicon market held in the week ended Friday December 14 but market participants expect it to come under pressure due to slower demand in the near term; meanwhile the European quotation held steady despite no reported trades in the assessed period. China ferro-silicon price holds; market eyes higher stocks, lower prices Europe held in price range in stable conditions ...Read More
The earlier uptick in the Chinese ammonium paratungstate (APT) price faltered in the week ended Friday December 14, while both European and Chinese ferro-tungsten markets were stable due to the end-of-year trading lull. APT fob price in China moved down due to low overseas buying interest amid falling prices in the domestic market. Chinese tungsten concentrate price unchanged. Ferro-tun...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Futures responded to overnight news that the U.S and China will resume trade negotiations in early January. Investors are waiting for news from the FOMC meeting to be released at 2:00 PM EST. Consensus calls for a 0.25% increase in the Fed Fund rate to 2.50%. The Canadian Dollar added 0....Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday December 17, capped by broad strength in the US dollar index while investors remain cautious ahead of the the forthcoming Federal Reserve meeting in the United States. At this week's Fed meeting, a decision on further interest-rate rises is expected. Volumes traded over the day are moderately low, w...Read More
The Ontario Securities Commission (OSC) is to hold a hearing on Tuesday December 18 to consider the approval of a settlement following an investigation into Katanga Mining Limited and several of its executives.The OSC inquiry has been investigating whether Katanga's previously filed periodic public disclosures contain statements that are misleading in a material respect, along with the adequacy of...Read More