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 latest metal markets news and price moves to start the North American day on Monday November 26. Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday November 26, consolidating against broad strength in the US dollar while low stocks and supply disruptions...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday November 26, consolidating against broad strength in the US dollar while low stocks and supply disruptions struggle to lift prices.The three-month zinc price was down almost 1%, dipping below $2,500 per tonne despite a sizable drawdown in LME stocks keeping total inventories at a 10-year low at 121,6...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday November 26*Copper -$175.39 (-1,220.52 yuan) Aluminium -$427.76 (-2,976.70 yuan) Zinc -$107.06 (-745.01 yuan) Nickel $487.82 (3,394.64 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
The three-month tin price on the London Metal Exchange stood out as the strongest performer among its peers with a gain of 1.2% this morning, Monday November 26. Three-month copper ($6,183 per tonne) and aluminium were up by 0.2%, while the rest were down by 0.3%.Volume has been average with 5,700 lots traded as at 7.30am London time. This morning's mixed performance by the LME three-month base me...Read More
Steel Dynamics Inc (SDI) plans to spend nearly $2 billion to build a new 3-million-ton electric-arc-furnace (EAF) flat-rolled steel mill in the US, its latest effort to tap into the southern part of the country as well as the Mexican flat-rolled steel market, the company said on Monday November 26.The facility is expected to have the capability to produce advanced high-strength steel products. It...Read More
Creditors of Brazilian steel producer and distributor A??o Cearense earlier this month approved a plan for the company's business recovery which included a restructuring of most of its debt.The company reached a deal with its creditors on November 9, in a meeting attended by 82% of its creditors, which between them held 98% of the company's debt.A??o Cearense filed for bankruptcy protection in May...Read More
Brazilian apparent steel consumption was 1.72 million tonnes in October, up by 3.70% year-on-year from 1.66 million tonnes in the corresponding month in 2017, national steel association Instituto A??o Brasil said on Friday November 23.Demand for flat steel grew in an annual comparison, but long steel was down on the same basis. This confirmed that the recovery in the long products sector in the co...Read More
CIS long steel producers have reduced their rebar and wire rod offer prices for foreign customers because of the downturn in the global long steel markets, notably in China, Fastmarkets heard on Monday November 26.The domestic rebar price in Eastern China dropped to 3,750-3,780 yuan ($540-544) per tonne ex-works on November 26 from 4,650-4,690 yuan per tonne ex-works on November 1.Recent offers of...Read More
Slab export prices from Brazil decreased in the week ended Friday November 23 due to weaker sentiment in global markets and the prices achieved in reported deals to the United States and Europe.Fastmarkets' weekly assessment of Brazilian export slab prices fell to $450-505 per tonne fob on Friday, compared with $505-515 per tonne fob a week before.Different Brazilian producers were heard booking v...Read More
Morocco has filed an appeal with the World Trade Organization against its recent ruling that the country's anti-dumping duty on Turkey-origin hot-rolled coil (HRC) violated the trade body's rules, the WTO said on Friday November 23.Morocco imposed a permanent 11% anti-dumping duty on Turkish HRC in August 2014, which was challenged by Turkey in October 2016.A WTO panel made its ruling in late Octo...Read More
The latest news and price moves to start the Asian day on Tuesday November 27.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 United States dollar index and continued global trade tensions. Read more in our live futures report.Here are how prices looked at the close...Read More
Chinese ammonium paratungstate (APT) and black tungsten concentrate prices fell due to persistent weakening domestic demand, while the European ferro-tungsten quotation ticked up on business concluded at higher levels. APT price in China edged down amid slow trades Concentrate prices was still under pressure in soft markets Ferro-tungsten price in Europe rise slightly Fastmarkets asse...Read More
Turkish domestic scrap prices have continued to weaken over the past week due to limited demand and falling finished steel values, sources said on Monday November 26.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,650-1,850 ($313-351) per tonne delivered on Monday, narrowing downward from TRY1,650-1,940 per tonne on November 19.Long steel producers...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 transaction: iron oreIron oreBeijing Iron Ore Trading Center (Corex), 170,000 tonnes of 61% Fe Pilbara Blend fines, traded at $62.50 per...Read More
Seaborne iron ore concentrate prices dipped on Friday November 23 due to limited demand from major Chinese buyers and weakening high-grade iron ore prices. The weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $95.27 per tonne cfr China on Friday, down by $4.02 per tonne from November 16. The daily 65% Fe Iron Ore Index averaged $91.56 per tonne cfr China last week, compared wi...Read More
Physical iron ore prices plummeted on Monday November 26 following a slump in futures and steel markets, with Chinese steelmakers fearing losses. MB 62% Fe Iron Ore Index: $64.25 per tonne cfr Qingdao, down $5.88 per tonne. MB 62% Fe Pilbara Blend Fines Index: $63.52 per tonne cfr Qingdao, down $5.80 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $68.97 per tonne cfr Qingdao, down $4.10 per tonn...Read More
Increasingly gloomier sentiment in China following a continual decline in its downstream ferrous markets has led to a drop in prices for seaborne coking coal sold into the country.A top Australian brand was heard offered at $221 per tonne cfr China during the day, while a second-tier product was offered at $203 per tonne cfr China, a Chinese end-user source told Fastmarkets on Monday November 26....Read More
The continued strike at Venezuela's Ferrominera Orinoco (FMO) is keeping the domestic hot-briquetted iron (HBI) industry paralyzed."As a result of FMO's sustained strike, all HBI producers have stopped for the moment," a market source in Venezuela told Fastmarkets. "Even Orinoco Iron is completely down due to the shortage of iron ore fines."FMO is the country's only legally authorized domestic pro...Read More