The Commonwealth of Independent States export slab price slumped on Monday December 17 after fresh sales were heard done at lower levels and a pessimistic mood in the finished flat steel segment drove down customers' expectations down.Fastmarkets' weekly price assessment for CIS export slab was at $415-420 per tonne fob Black Sea on December 17, down from $430-435 per tonne fob Black Sea last...Read More
Fastmarkets MB organized a North Africa Steel Summit on Thursday December 13 in Dubai, which immediately followed the Middle East Iron and Steel Conference.What follows are the main topics discussed at the summit by two key Egyptian speakers.1) Egypt has over 13 million tonnes per year of steel production capacity, which according to Nourhan Ashry, vice president at Ashry Steel - Egyptian tube and...Read More
Fastmarkets MB organized a North Africa Steel Summit on Thursday December 13 in Dubai, which immediately followed the Middle East Iron and Steel Conference.What follows are the main topics discussed at the summit by two key Egyptian speakers.1) Egypt has over 13 million tonnes per year of steel production capacity, which according to Nourhan Ashry, vice president at Ashry Steel - Egyptian tube and...Read More
Prices in all producing and buying regions have been falling, following a downtrend in flat steel markets. There is no expectation of upside in the following weeks, according to sources.AsiaImport prices of the semi-finished product in Asia are likely to remain soft for the remainder of this month amid the sustained weakness in the region's finished flat steel markets. No upside is expected in the...Read More
Commonwealth of Independent States export rebar and wire rod prices dropped $10-20 per tonne in the week ended Monday December 17 due to a lack of demand and increased pressure from Turkish suppliers.The volume of the global rebar market has shrunk this year due to the snowball effect from tariffs imposed by the United States. This forced Turkish suppliers to increase their presence in the Middle...Read More
The Commonwealth of Independent States export slab price slumped on Monday December 17 after fresh sales were heard done at lower levels and a pessimistic mood in the finished flat steel segment drove down customers' expectations down.Fastmarkets' weekly price assessment for CIS export slab was at $415-420 per tonne fob Black Sea on December 17, down from $430-435 per tonne fob Black Sea last...Read More
The export market for flat steel products from the Commonwealth of Independent States (CIS) remains weak because of low demand ahead of the end of the year, with buyers fearing further price falls early in 2019. Fastmarkets MB's weekly price assessment for CIS-origin HRC exports was $450-470 per tonne fob Black Sea on Monday December 17, down from $460-475 per tonne fob a week ago."Suppliers [of H...Read More
The latest news and price moves to start the Asian day on Tuesday December 18.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. Read more in our live futures report.Here are how pric...Read More
The latest metal markets news and price moves to start the North American day on Monday December 17. Base metals price on the London Metal Exchange were mostly lower during morning trading, with most metals broadly rangebound during the low-volume morning session, while looming US-China trade tensions keep investors cautious.The three-month aluminium price consolidated lower and continues to trade...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday December 17.Base metals prices on the Shanghai Futures Exchange were broadly higher during Asian morning trading on Monday, with zinc and nickel registering the biggest gains. Tin and lead bucked the trend to weaken slightly.There was a slightly firmer tone across the SHFE base metals c...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 Comex copper price fell in morning trading on Monday December 17 amid quiet trading conditions and uncertainty surrounding the future of American monetary policy. The copper price for March settlement on the Comex division of the New York Mercantile Exchange fell 2.70 cents to $2.7355 per lb. US market participants are awaiting the Federal Reserve's Wednesday decision on another rate hike. Glo...Read More
Physical iron ore prices were mixed on Monday December 17 after a jump above $70 per tonne cfr China last Friday.MB 62% Fe Iron Ore Index: $70.74 per tonne cfr Qingdao, down $0.27 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.27 per tonne cfr Qingdao, down $0.27 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $72.04 per tonne cfr Qingdao, down $0.13 per tonne.MB 58% Fe Premium Index: $63.67 p...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
China's recycled copper production is expected to reach 3.5 million tonnes per year by 2020, up 9% from 2017, according to Zhang Xizhong, vice president of the recycling branch of China's non-ferrous metals association CNMIA.China processed about 3.2 million tonnes of recycled copper in 2017, Zhang told delegates at an annual industry conference late last week. In 2017, that recycled mat...Read More
Christian Keidel joined downstream aluminium product producer Aludium at the start of December in the role of metal management director, Fastmarkets MB understands.Prior to joining Aludium, which comprises three former Alcoa mills in Spain and France, Keidel had been in...Read More
The Comex copper price fell in morning trading on Monday December 17 amid quiet trading conditions and uncertainty surrounding the future of American monetary policy. The copper price for March settlement on the Comex division of the New York Mercantile Exchange fell 2.70 cents to $2.7355 per lb. US market participants are awaiting the Federal Reserve's Wednesday decision on another rate hike. Glo...Read More
As a result of a technical error, Fastmarkets MB's copper concentrate treatment charges (TC) and refining charges (RC) indices for December 14 were published late on the Fastmarkets price book.Fastmarkets' copper concentrate index dropped by $2.60 per tonne/0.26 cents per lb to $86.20 per tonne/8.62 cents per lb on Friday December 14 from the end of last month.To provide feedback on the delayed pu...Read More
South Korea's Public Procurement Service (PPS) has floated a tender to procure 1,000 tonnes of good western primary aluminium, according to a notice posted on the state-run agency's website on Thursday December 13.The tender seeks high-grade good western aluminium of London Metal Exchange-registered brands, excluding those from China, India, Russia and Egypt, and for shipment to Incheon port by Ma...Read More