The European molybdenum-oxide market has climbed 20 cents in trading by mid-week, with deals and offer prices reported above $12 per lb and returning to a level unseen since the start of November.Some oxide trading, however, has been in South Korea where major steelmaker Posco settled a tender for around 100 tonnes of oxide last week at about $12-12.10 per lb. The company is due to settle another...Read More
Ferroglobe is set to idle almost one-fifth of its silicon metal production capacity in Europe and the United States, cutting it to an annualized rate of 341,000 tonnes from 417,000 tonnes, because of the weaker prices seen this year.The UK-based metals company is planning to idle 36,000 tonnes per year of production capacity in the US. This will be done its plant at Selma, in the state of Alabama,...Read More
China's leading stainless steel mills - Tsingshan Group, Taiyuan Iron & Steel (Tisco) and Baosteel - have lowered their December tender prices for high-carbon ferro-chrome after falling stainless prices hit profits. Early on Tuesday November 27, Tisco announced that its December tender price for high-carbon ferro-chrome was 6,700 yuan ($963) per tonne, 50 yuan per tonne lower than its Novembe...Read More
The latest metal markets news and price moves to start the North American day on Thursday November 29.Base metal prices on the London Metal Exchange were higher during morning trading, with market confidence boosted by US Federal Reserve chairman Jerome Powell saying that the central bank may soon be in a position to pause the interest rate hikes. Rising 2.27%, LME three-month tin traded the most...Read More
South African miner Tharisa produced a record 1.4 million tonnes of chrome concentrate for the year to September 30, 2018, while a sharp weakening of chrome prices offset the benefit of a higher platinum group metal (PGM) basket price.Tharisa's chrome concentrate production rose 8.8% year on year and sales rose 24.8% to 1.6 million tonnes. Earnings before interest, tax, depreciation and amortizati...Read More
Turkish steel mills extended their absence from the deep-sea scrap market on persistently poor demand for finished steel and with no recovery in sight, sources told Fastmarkets on Thursday November 29.After booking three deep-sea cargoes from the United States and the United Kingdom at the end of the last week, steel mills in Turkey paused their buying activity because of the sluggish demand...Read More
Fastmarkets proposes to refine the specifications for three pig-iron price assessments in the United States and Brazil to reflect existing market conditions.Fastmarkets invites market participants to take part in a market consultation to refine the specifications of the three prices below. Fastmarkets has added the chemical compositions into the specifications to specify the phosphorous content of...Read More
Fastmarkets is hosting a free web seminar to discuss the new Singapore Exchange (SGX) 65% Fe derivative contract on December 11. We will examine how changes in the iron ore market have prompted the need for this high-grade derivative, the opportunities the contract offers and the methodology behind our iron ore index. The next stage of evolution for the iron ore market is here, with the SGX announ...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. ...Read More
Physical iron ore trading was mainly inactive on Thursday November 29, with Chinese mills cautious of buying despite gains in the futures and steel markets.MB 62% Fe Iron Ore Index: $66.51 per tonne cfr Qingdao, up $0.16 per tonne.MB 62% Fe Pilbara Blend Fines Index: $65.78 per tonne cfr Qingdao, up $0.16 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $69.30 per tonne cfr Qingdao, down $0.34 per...Read More
Supply concerns in the seaborne coking coal market eased on Thursday November 29 with the lifting of a suspension of services on a major rail line for the steelmaking raw material in Queensland, Australia.Coal services "are recommencing on the Blackwater corridor following visual inspections of the track this morning," a spokesperson for rail freight operator Aurizon said via email during the day....Read More
China's ferrous futures retreated during the morning trading session on Thursday November 29 after a short-lived recovery a day earlier. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,594 yuan ($517) per tonne, down 62 yuan per tonneJanuary hot-rolled coil: 3,434 yuan per tonne, down 31 yuan per tonneDalian Commodity Exchange January iron ore: 474.50 yuan per t...Read More
Base metal prices on the London Metal Exchange were higher during morning trading on Thursday November 29, with market confidence boosted by US Federal Reserve chairman Jerome Powell saying that the central bank may soon be in a position to pause the interest rate hikes. "The market is looking more confident this morning due to Wednesday's Federal Reserve comments, but likewise it is still nervous...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday November 29*Copper -$184.77 (-1,285.13 yuan) Aluminium -$435.73 (-3,030.61 yuan) Zinc -$105.05 (-730.68 yuan) Nickel $429.68 (2,988.58 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
China's domestic hot-rolled coil prices moved up slightly on Thursday November 29 but its export segment remained unchanged. DomesticEastern China (Shanghai): 3,580-3,600 yuan ($515-518) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,490-3,500 yuan per tonne, narrowed upward by 10 yuan per tonneHRC futures traded above Wednesday's settlement price of 3,423 yuan per tonne for most of th...Read More
World manganese ore supply reached 1.98 million tonnes of manganese units in October, up 11% against September and nearly 20% year on year, according to the latest data from the International Manganese Institute (IMnI).Supply from the Asia and Oceania region jumped 30% against August and 22% year on year to 666,000 tonnes due to miners in China ramping up to feed manganese-alloy smelter restarts w...Read More
Three-month base metals prices on the London Metal Exchange were being pushed and pulled by cross currents this morning, Thursday November 29. Nickel, lead and tin showed gains averaging 0.4%, while copper, aluminium and zinc were down by an average of 0.4%. Copper was off by 0.4% at $6,230 per tonne.Volume across the complex has been average with 5,189 lots traded as at 7.33am London time. Wednes...Read More
The price of cobalt sulfate in China fell again this past week after producers surrendered to aggressive bidding by consumers in the run up to the end of the year, a time when both parties face extreme financial constraints.Fastmarkets MB assessed the price of cobalt sulfate (Co 20.5% min) in China on an ex-works basis at 68,000-73,000 yuan ($9,776-10,495) per tonne on Wednesday November 28, down...Read More
Stainless steel prices in East Asia continued to fall over the past week on soft demand. Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,910-1,980 per tonne cif East Asia for the week ended Wednesday November 28, down $80 per tonne from $1,990-2,060 per tonne cif a week earlier.Fastmarkets MB's import price assessment for 304 stainless tr...Read More
China's domestic stainless steel market maintained its downward trend over the past week after mills lowered their list prices.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-15,000 yuan ($2,041-2,156) per tonne including VAT for the week ended Wednesday November 28, down 500-600 yuan per tonne from a week earlier.Stainless stee...Read More