Metal Bulletin has corrected its UK domestic grade-316 stainless steel scrap solids price, which was published incorrectly on November 23 due to a reporter error. The price was originally published at ?1,230-1,250 ($1,572-1,579) per tonne, delivered to merchant. The price has now been corrected to ?1,220-1,300 per tonne, stable from the week before. Fastmarkets MB's price book and database have...Read More
Key data from the Wednesday November 28 pricing session in Asia.Key drivers: Buyers lowered their purchasing prices after the price of scrap - the raw material of ADC12 - went down in the United States. Japanese buyers also held off from purchasing capacity this week due...Read More
Three-month base metals prices on the London Metal Exchange were firm on the morning of Friday November 30 despite the release of weaker-than-expected economic data from China earlier in the day. The three-month tin price led the gains with a 0.6% increase to $18,620 per tonne and was closely followed by zinc and nickel, which were both up by 0.4%. Copper and lead managed to eke out mild gain...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. Investors are waiting for news related to trade negotiations between China and the U.S. The Canadian Dollar dipped 0.25 to U.S.75.04 cents after September GDP was released. Consensus was annualized growth at a 2.3% rate. Actual was 2.1%. Hewlett Packard (HPQ $22.86) is expected to open h...Read More
Base metal prices were resurgent on the London Metal Exchange on Wednesday November 28, with prices for the entire complex closing higher than their Tuesday levels, with the exception of tin.Tin's three-month price continued to fall over afternoon trading, closing at $18,240 per tonne with just 550 lots traded.Copper prices were buoyed by disruptions to cathode supplies to smelters operated by Eur...Read More
Tight supply helped buoy nickel premiums in China although low offers in Europe and the United States pushed briquette premiums down in those regions. Tight nickel supply in China supports market there despite closed import window Influx of briquettes into US pushes premiums lower Aggressive offers in Europe push premium downLimited supply supports Chinese bonded premium The Shanghai-bonded nickel...Read More
Zinc premiums made gains in the Taiwanese and Indian markets on Tuesday November 27 with residual supply not sufficient to appease demand. Lead markets are focused on annual contracts, with US spot market activity diminished for this reason. Zinc premiums rise in Taiwan and India Annual zinc premiums start to settle lower in Europe Lead premiums flat on spot as market eyes annual cont...Read More
A plunge in silico-manganese futures prices on the Zhengzhou Commodity Exchange (ZCE) at the start of this week was driven by weakness in China's steel market, market participants told Fastmarkets. On Monday November 26, trading was suspended for the ZCE's most-traded January silico-manganese futures contract after the price of the contract plunged by 7.1% from the previous trading day's close. Th...Read More
Vanadium trade log including business, bids and offers reported to Fastmarkets.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Friday November 23Ferro-vanadium - Prices indicated a...Read More
China Hongqiao Group has started to cut its aluminium production as part of local government winter curtailment orders, according to a document released by the Binzhou government earlier this week. The winter cuts document published on the City of Binzhou official website lists five closures of Hongqiao's smelters, which have aluminium capacity of nearly 6.46 million tonnes per year. Based on the...Read More
Vanadium trade log including business, bids and offers reported to Fastmarkets.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Friday November 23Ferro-vanadium - Prices indicated a...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The Turkish steel producers have continued to hold back from the deep-sea scrap markets and were not expected to resume purchasing activity any time soon, sources said on Wednesday November 28.The mills in the country booked three deep-sea cargoes at the end of last week, following a downturn in prices. But this activity did not last long because of concerns about price falls in the Asian steel ma...Read More
The price of copper on the Comex exchange in the United States rebounded in morning trading on Wednesday November 28 ahead of the upcoming meeting in Argentina of leaders from the G20 group of nations.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose by 4.15 cents per lb to $2.7675 per lb on Wednesday.Despite recent remarks from US President Donal...Read More
Despite a firmer dollar, the three-month base metals prices on the London Metal Exchange are up across the board by an average of 0.8% this morning, Wednesday November 28. Nickel and tin are the outperformers with gains of 1.4% and 1.1% respectively.Copper prices are up by 0.8% at 4$6,160 per tonne. Volume has been average, with 5,147 lots traded as at 6.48am London time. The precious metals are a...Read More
China's hot-rolled coil prices were mixed on Wednesday November 28, with those in the east of the country flat but those in the north lower.DomesticEastern China (Shanghai): 3,570-3,590 yuan ($514-516) per tonne, unchangedNorthern China (Tianjin): 3,480-3,500 yuan per tonne, down 30-40 yuan per tonneSellers in eastern China stopped kept their prices stable on the recovery in the futures...Read More
China's ferrous futures rose across the board during morning trading on Wednesday November 28, reversing the trend seen in the first two days of this week.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,622 yuan ($521) per tonne, up 43 yuan per tonneJanuary hot-rolled coil: 3,444 yuan per tonne, up 37 yuan per tonneDalian Commodity Exchange January iron ore: 472...Read More
The latest news and price moves to start the Asian day on Thursday November 29.Base metal prices were resurgent on the London Metal Exchange on Wednesday November 28, with prices for the entire complex closing higher compared with the previous day. Read more in our live futures report.Here are how prices looked at the close of trading:Turkish long steel producer Ko?? Metalurji intends to halt...Read More
Long steel demand in Brazil fell year on year in October but growth expectations remain in place for this year and 2019, Gerdau chief executive officer Gustavo Werneck said."We had already envisioned some slowdown during the fourth quarter as seasonal factors kick in," Werneck told Fastmarkets on the sidelines of a partnership launching event on Wednesday November 28. "What is important is that 20...Read More
Turkish long steel producer Ko?? Metalurji intends to halt steel production to allow maintenance work during the first month of 2019, a mill source told Fastmarkets on Wednesday November 28.Production operations at Ko?? Metalurji will stop from Tuesday January 1 until Thursday January 31. The mill may return to the market later than the end of January, however, depending on trading conditions."We...Read More