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
Physical iron ore markets recorded mixed performance on Wednesday November 28 amid a rebound in futures and swaps trading yet continued bearishness among participants. MB 62% Fe Iron Ore Index: $66.35 per tonne cfr Qingdao, up $1.16 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.62 per tonne cfr Qingdao, up $1.16 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $69.64 per tonne cfr Qingdao, u...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
Iranian exporters of semi-finished steel products, billet in particular, have come under pressure from the increasing presence of Chinese suppliers in the global market.The domestic billet price in northern China has fallen by 380 yuan per tonne since the beginning of the week, reaching 3,050 yuan ($439) per tonne ex-works on November 28.The drop in the domestic price made the export market more a...Read More
China's domestic rebar prices bounced back on Wednesday November 28 amid gains in the futures market, though export prices continued to spiral downward.Domestic Eastern China (Shanghai): 3,800-3,830 yuan ($547-551) per tonne, up 50-70 yuan per tonneNorthern China (Beijing): 3,490-3,520 yuan per tonne, up 20 yuan per tonneRebar futures picked up more strength during the day, which encouraged seller...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
Prices for hollow steel sections in Northern Europe moved down this week following falls in feedstock prices, market participants told Fastmarkets MB.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?635-650 ($718-735) per tonne delivered on Thursday November 28, down from ?,?640-660 per tonne delivered on November 21.Th...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
European prices for mesh-quality wire rod stayed flat across the Northern and Southern parts of the continent on Wednesday November 28, with consumer buying firmly limited to small, near-term business.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($611-634) per tonne delivered on Wednesday.Cost pressures have been...Read More
An overview of the minor metals markets and the reasons for any price moves.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
The latest metal markets news and price moves to start the North American day on Wednesday November 28. Base metal prices on the London Metal Exchange rebounded in morning trading on Wednesday after having suffered heavy losses at the start of the week. Aluminium prices, meanwhile, have failed to be spurred by the news...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 28.Base metals on the Shanghai Futures Exchange continued to be pressured by a strong dollar during Asian morning trading on Wednesday, with limited price movements recorded across most of the complex as a result. Check Fastmarkets MB's live futures report here.The looming b...Read More
Philipp Schl? 1/4 ter has become chief executive officer of Trimet Aluminium, the company said on Monday November 26. "Philipp Schl? 1/4 ter will be moving from the supervisory board to the executive management of the company and become the CEO of Trimet Aluminium SE," chairman Thomas Ludwig...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
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
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
Base metal prices on the London Metal Exchange rebounded in morning trading on Wednesday November 28 after having suffered heavy losses at the start of the week.The LME's three-month copper contract rallied up by $33.5 per tonne to $6,155 per tonne; this morning news broke that Indonesian copper smelter Gresik will be out of the market until December.Aluminium prices, meanwhile, have failed t...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More