The latest metal markets news and price moves to start the North American day on Thursday November 22. The majority of base metals prices on the London Metal Exchange were rangebound during morning trading while overall volumes remain light.Holding gains made at Wednesday's close, the three-month lead price remained above $2,000 per tonne amid continued outflows in LME stock - which remain at nine...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday November 22.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Thursday despite the recent softness in the dollar; copper and aluminium were little changed with a slight upward bias, while the rest were lower across the board. Check F...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday November 22, with quiet trading continuing to keep prices broadly stable. Nickel's three-month price continued its downtrend, closing below $11,000 per tonne for the first time since December 2017; upward price action continues to be limited by slow Chinese stainless steel production. Additionally, the I...Read More
Some physical iron ore sellers made offers on the low side on Thursday November 22 amid losses in paper markets and concerns over shrinking steelmaking margins.MB 62% Fe Iron Ore Index: $72.18 per tonne cfr Qingdao, down $1.88 per tonne.MB 62% Fe Pilbara Blend Fines Index: $71.37 per tonne cfr Qingdao, down $1.88 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $75.82 per tonne cfr Qingdao, down $2...Read More
The majority of base metals prices on the London Metal Exchange were rangebound during morning trading on Thursday November 22 while overall volumes remain light. Holding gains made at Wednesday's close, the three-month lead price remained above $2,000 per tonne amid continued outflows in LME stock - which remain at nine-year lows - and strong demand from the lead-acid battery sector. Similarly, z...Read More
Alufer Mining's first shipment of bauxite from its Bel Air project in Guinea has arrived in China, the company said on Thursday November 22. The shipment, totaling 203,009 tonnes, was shipped to Qingdao port in China after being sold to Aluminum Corp of China (Chalco) - the country's largest alumina and primary aluminium producer. The Bel Air mine is on on track to produce 5.5 million tonnes per y...Read More
Turkish steel producers have resumed their deep-sea scrap purchases after getting lower prices from Europe, sources said on Thursday November 22.The mills in the country were looking for lower prices for scrap because of their fears of renewed product outflows from China and consequently weakening prices for rebar.A steel mill broke the...Read More
The majority of base metals prices on the London Metal Exchange were rangebound during morning trading on Thursday November 22 while overall volumes remain light. Holding gains made at Wednesday's close, the three-month lead price remained above $2,000 per tonne amid continued outflows in LME stock - which remain at nine-year lows - and strong demand from the lead-acid battery sector. Similarly, z...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday November 22 *Copper -$202.45 (-1,405.64 yuan) Aluminium -$429.56 (-2,982.55 yuan) Zinc -$119.79 (-831.73 yuan) Nickel $642.95 (4,464.19 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Three-month base metals prices on the London Metal Exchange continued to give mixed performances this morning, Thursday November 22. Zinc and lead showed weakness with prices down by 0.4% and 0.3% respectively, while tin prices were up by 0.3%. The rest were little changed, with the three-month copper price up by 0.1% at $6,242 per tonne.Volume has been below average with 4,562 lots traded as at 7...Read More
Trade log for nickel sulfate in China including transactions, bids and offers reported to Fastmarkets MB.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets MB prices Click here for Fastmarkets MB's price assessment for nickel sulfate, Ni 21% min 22.5% max, China ex-works, yuan/tonne. The exchange rate according to...Read More
Trade log for nickel sulfate in China including transactions, bids and offers reported to Fastmarkets MB.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets MB prices Click here for Fastmarkets MB's price assessment for nickel sulfate, Ni 21% min 22.5% max, China ex-works, yuan/tonne. The exchange rate according to Oanda.com on Tuesday October 30 was 25,200...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday November 22.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Thursday despite the recent softness in the dollar; copper and aluminium were little changed with a slight upward bias, while the rest were lower across the board. Check F...Read More
Flat steel sales volumes from distributors in Brazil increased slightly year-on-year in October 2018, amid stable domestic prices, local flat steel association Inda has said.Sales amounted to 268,500 tonnes in the month, up from 267,000 tonnes in October 2017, according to figures released on Thursday November 22."There is a general sentiment among distributors that the market will improve at some...Read More
Steel billet prices in Turkey have softened further this week under the influence of the negative sentiment created by falling prices for scrap and China-origin steel, sources said on Thursday November 22.Fastmarkets' weekly price assessment for billet imports into Turkey was $460-465 per tonne cfr on Thursday, down from last week's $475-480 per tonne.The suppliers in the CIS region have reduced t...Read More
Rebar and wire rod prices in Turkey's domestic market fell on Thursday November 22, on a stronger lira and poor demand, sources told Fastmarkets.The Fastmarkets weekly price assessment for domestic rebar in Turkey was TRY3,080-3,220 ($576-602) per tonne ex-works, down from TRY3,250-3,400 per tonne.Rebar in the Izmir and Karab? 1/4 k regions was TRY3,100-3,200 per tonne, while in the Istanbul...Read More
CIS export billet prices continued to weaken on Thursday November 22 due to spreading negative sentiment in the market caused by falling finished long steel prices, uncertainty in the import scrap segment in Turkey as well as slumping billet prices in the Southeast Asia market. Fastmarkets' daily CIS export billet index was calculated at $453 per tonne fob Black Sea on Thursday November 22, d...Read More
Turkish long steel export prices have gone down sharply on sluggish demand and falling global steel and scrap prices, sources said on Thursday November 22.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $490-500 per tonne fob on an actual weight basis on Thursday, down from last week's $505-510 per tonne.The mills in the country lowered their offers to $500-510 per tonne f...Read More
Steel billet import prices in Egypt have fallen slightly over the past week amid poor demand and lower offer prices, while domestic rebar prices were unchanged despite expectations of lower values, sources said on Thursday November 22.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $475-480 per tonne cfr on Thursday, down from $480-485 per tonne cfr last week.Billet p...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletCIS, export, billet, traded at $480...Read More