Seaborne iron ore prices rose on Tuesday December 4 amid gains in the futures and swaps markets, as well as a sharp uptick in the yuan's value against the US dollar.MB 62% Fe Iron Ore Index: $67.16 per tonne cfr Qingdao, up by $0.78 per tonne.MB 62% Fe Pilbara Blend Fines Index: $66.43 per tonne cfr Qingdao, up by $0.78 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $71.40 per tonne cfr Qingdao,...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 transactions: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at the January average of the Fastmarkets MB 62% Fe Iron Ore Index-Low Alumina at...Read More
Participants in the seaborne coking coal spot market stayed on the sidelines on Tuesday December 4 even as bids on the Global Coal trading platform climbed.A bid for a January-loading shipment in the branded segment was made at $234 per tonne fob Australia on the platform during the day, market sources said. This compares with $230 per tonne fob Australia just a day earlier. "I am not aware of any...Read More
China's domestic coking coal market maintained its strength in November despite a rapid price decline for coke in the country amid negative sentiment in the steel market. Fastmarkets MB's weekly domestic price assessment for hard coking coal in Shanxi delivered to Tangshan stood at 1,520-1,900 yuan ($220-275) per tonne last Friday November 30, widening upward from 1,520-1,850 yuan per tonne on the...Read More
China's domestic hot-rolled coil prices retreated over most of the day on Tuesday December 4, but word of a meeting on pollution controls led to some late gains in the market.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($534-536) per tonne, narrowing downward by 30 yuan per tonneNorthern China (Tianjin): 3,580-3,600 yuan per tonne, down 40-50 yuan per tonnePrices in eastern China mostly hov...Read More
China's rebar prices retreated on Tuesday December 4 on an inactive market, just a day of a surge due to a pause in the country's trade war with the United States.Domestic Eastern China (Shanghai): 3,910-3,950 yuan ($566-572) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,600-3,630 yuan per tonne, down 120 yuan per tonnePrices failed to breach the 4,000-yuan-per-tonne mark, with buye...Read More
Price gains inspired by the trade developments at the Group of Twenty (G20) summit over the weekend were sold into during afternoon trading on Monday December 3, but likewise the dips have been bought into again this morning. Three-month base metals prices on the London Metal Exchange were up by an average of 0.5% on Tuesday morning, with all of the metals - bar nickel which was unchanged - in pos...Read More
UK-listed miner and commodities trader Glencore has revised downward by 8,000 tonnes its forecast for cobalt production in 2019 from its Katanga mine in the Democratic Republic of Congo (DRC), following a suspension of exports.Cobalt production from the mine next year will be 26,000 tonnes, according to guidance released on Monday December 3.The company has lowered its guidance "to reflect [the] c...Read More
Comex copper prices recovered Monday morning in the US, after Chinese and US leaders decided to freeze additional tariffs for 90 days over the weekend at the G20 summit.The copper price for March settlement on the Comex division of the New York Mercantile Exchange jumped 5.40 cents to $2.8415 per lb. A temporary detente is positive for the metals markets because the ongoing uncertainty betwee...Read More
With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in November 2018.The case list below includes only updates. For other continuing cases...Read More
The Turkish steel producers have started another working week without any deep-sea bookings due to the uncertainty in the market and sluggish demand for finished steel goods, sources said on Monday December 3.A number of market participants reported various offers and bids at the beginning of the week, but no transactions were completed, Fastmarkets was told.Some sources said that offers from supp...Read More
Turkish domestic steel scrap prices have continued to weaken in line with the falling prices for steel and imported scrap over the past week, sources said on Monday December 3.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,590-1,780 ($304-340) per tonne delivered on Monday, down from TRY1,650-1,850 per tonne on November 26.Steel producers and a maj...Read More
Treatment charges (TCs) for zinc concentrates continued to rise sharply in November, hitting highs not seen since November 2015.Fastmarkets' monthly assessment for spot zinc concentrate TCs, cif Asia Pacific, rose to $170-190 per tonne on November 30, the highest since November 2015 and up from $120-140 per tonne at the end of October.This is the biggest monthly move since Fastmarkets started pric...Read More
Canadian equity markets are expected to open mixed in quiet trade today. U.S. markets are closed. S&P 500 Index futures were up 16 points after China noted that it is confident that a trade agreement with the U.S. will be reached within the 90 day window.The Canadian Dollar slipped 0.04 to U.S. 75.34 cents prior to a Bank of Canada statement on interest rates scheduled to be released at 10:00...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Monday December 3, with broadly positive market sentiment emerging from the weekend's summit in Argentina of the leaders of the G20 group of nations, while the United States and China agreed to limit further use of trade tariffs.The three-month tin price improved most over the afternoon. It made a signifi...Read More
Brazil's primary aluminium production continued to slow in October, according to local aluminium association Abal. The country's primary aluminium output was 50,500 tonnes during the month, 26.30% lower than the 68,500 tonnes in the same period last year. October's figures were the third-lowest monthly output in 2018 despite recording some growth compared with September, when production was 49,100...Read More
Comex copper prices recovered Monday morning in the US, after Chinese and US leaders decided to freeze additional tariffs for 90 days over the weekend at the G20 summit.The copper price for March settlement on the Comex division of the New York Mercantile Exchange jumped 5.40 cents to $2.8415 per lb. A temporary detente is positive for the metals markets because the ongoing uncertainty betwee...Read More
The Chinese ferro-silicon market has added to recent price increases amid persistent demand from steel mills in the week ended Friday November 30, while in Europe prices are under pressure after reports of new deals, with long-term delivery negotiations in focus. China builds on price gains while steel mills buy for 2019 smelting schedules European market drops, awaits first-quarter settlements US...Read More
Ferro-chrome spot prices in China were unchanged in the week ended Friday November 30 after the drop in tender prices to December from November was smaller than expected. Chinese mills' ferro-chrome tender price falls by 50 yuan ($7) per tonne Chinese imported and domestic ferro-chrome spot prices stable Alloy prices into Japan and South Korea fall High-carbon ferro-chrome price into Europe unmove...Read More
Ferro-chrome spot prices in China were unchanged in the week ended Friday November 30 after the drop in tender prices to December from November was smaller than expected. Chinese mills' ferro-chrome tender price falls by 50 yuan ($7) per tonne Chinese imported and domestic ferro-chrome spot prices stable Alloy prices into Japan and South Korea fall High-carbon ferro-chrome price into Europe unmove...Read More