Chrome ore and ferro-chrome markets were subdued in China in the week ended Friday November 23 ahead of December ferro-chrome tender announcements. UG2 prices hold in ChinaCharge chrome import prices hold in China, domestic alloy prices edge lowerAlloy prices hold in Japan, weaken in South KoreaAlloy prices continue lower in Europe Chrome ore and ferro-chrome prices were largely stable in China o...Read More
Fastmarkets MB proposes to launch an assessment of chrome ore inventories at the main Chinese ports of Tianjin, Qinzhou, Lianyungang and Shanghai to monitor the changes to stock flows of this raw material and help market participants better understand supply and demand in the physical market. The rapid accumulation in Chinese chrome ore inventory this year put pressure on chrome prices as well as...Read More
A new round of environmental inspections started on Sunday November 25 in Jiangxi province, a major ammonium paratungstate production hub in China, and is expected to last for 24 days, multiple well-informed sources told Fastmarkets MB. The inspections will track the progress of improvements made by local industrial producers following the previous environmental inspection in the second quarter of...Read More
Turkish steel producers remained out of deep-sea scrap market on Tuesday November 27 because of uncertainty about Asian markets and sluggish demand for finished products, sources said.After booking three deep-sea cargoes at lower prices at the end of last week, mills have not returned to the scrap market so far this week.The most recent transactions put the HMS 1&2 (80:20) price at $320 per tonne...Read More
Shipments of steel products and pig iron from Ukraine have not yet been affected by the country imposing restrictions under martial law, sources told Fastmarkets on Tuesday November 27."For the moment, I do not see any problems for civil vessels from Black Sea ports, but it is only the first day after the announcement of the martial law decision," one trader from Ukraine said on Tuesday. "Those mo...Read More
Seaborne iron ore prices were rangebound on Tuesday November 27 after a rapid drop below $65 per-tonne cfr on Monday.MB 62% Fe Iron Ore Index: $65.19 per tonne cfr Qingdao, up $0.94 per tonne.MB 62% Fe Pilbara Blend Fines Index: $64.46 per tonne cfr Qingdao, up $0.94 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $69.02 per tonne cfr Qingdao, up $0.05 per tonne.MB 58% Fe Premium Index: $57.06 per...Read More
The share of basic oxygen furnace (BOF)-based steel production in Asia may increase from 2019 onward, even as more integrated mills are commissioned in the region. There are at least six new BOF-based steelmaking projects in China and Southeast Asia which are either in development stages or will fire their blast furnaces between 2018 and 2023, according to World Steel Association head of technolog...Read More
Seaborne coking coal prices softened further on Tuesday November 27, with participants staying on the sidelines amid a weakening steel market in China."The billet price in China [tumbled] during the day. It has fallen by 800-900 yuan ($115-130) per tonne since the first [working day] of November. The situation doesn't bode well for coking coal prices," a Chinese trading source said. Fastmarkets' d...Read More
China's ferrous futures trended downward during morning trading on Tuesday November 27 with most contracts peaking the night earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,576 yuan ($515) per tonne, down 53 yuan per tonneJanuary hot-rolled coil: 3,406 yuan per tonne, down 44 yuan per tonneDalian Commodity Exchange January iron ore: 466 yuan per tonne, d...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 27.Falling 2.4% over the morning, the three-month zinc price found a low of $2,422 per tonne over the morning, its lowest point since September 19. While zinc volumes traded so far this morning hit 5,361 lots as of 10:16am London time. Tightness in the metal's forward curve, prompted by...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday November 27*Copper -$198.46 (-1382.98 yuan) Aluminium -$432.12 (-3011.19 yuan) Zinc -$100.65 (-701.35 yuan) Nickel $387.08 (2697.33 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Fastmarkets MB has discontinued the Indium Corp ingots min 99.97% $ per kg price. After a month-long consultation period, Fastmarkets MB has decided to cease the publication of the Indium Corp ingots min 99.97% $ per kg fob price owing to an understanding that the existing specifications no longer serve the market. Fastmarkets MB is committed to the indium market and will continue to track its evo...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...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Investors are waiting for a speech by Federal Reserve Chairman Jerome Powell to be released at the Economy Club of New York at noon.Index futures were virtually unchanged following release of U.S. third quarter real GDP at 8:30 AM EST. Consensus for second estimate of third quarter real...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday November 26, with downside pressure emerging amid broad strength in the US dollar index and continued global trade tensions.The three-month zinc price fell by 1.2% over the day to show the biggest losses over the afternoon, while volumes traded on the exchange were high at 12,375 lots by the close o...Read More
Copper prices on New York's Comex were little changed in morning trading on Monday November 26 amid scant trading activity and few market drivers being apparent ahead of a major trade meeting.The copper price for December settlement on the Comex division of the New York Mercantile Exchange in the United States fell by 0.30 cents to $2.7635 per lb.Later this week, US President Donald Trump and Chin...Read More
Global aluminium billet premiums have been mostly stable over the past month although the Italian billet premium range widened, reflecting offers there for material with many different origins.Italian premium widens; Europe liquidity remains high The premium for 6063 series extrusion billet in northern Italy on a delivered duty-paid basis with 60-day payment terms widened to $510-550 per tonne on...Read More
The global market for electric vehicle batteries in 2025 could be 10 times bigger than in 2018, according to a report by Swiss investment bank UBS published last week.This should help to increase lithium demand by as much as four times, to drive a 41% increase in nickel consumption, and to more than double the use of cobalt over the same period, the report added.These three metals are the ones mos...Read More
Prices for ferro-vanadium and vanadium pentoxide from China slipped in the week ended Friday November 23 after sellers cut their export offers amid a lull in consumer buying and hesitance to purchasing at high levels. European prices held at all-time highs, despite talk of cheaper numbers, with sellers so far under no pressure to cut their offers. Chinese vanadium prices tick down on bearish...Read More
Ferro-manganese and silico-manganese prices into Europe made strong gains in the week ended Friday November 23 in response to concerns of a potential shortage should demand see a renewal. Ore prices in China and fob range-bound Alloys in China tick down Ferro-manganese and silico-manganese prices in Europe rise Silico-manganese in India gains prior to tenders Manganese ore prices i...Read More