Representatives from Chinese manganese alloy smelters will meet this week to discuss silico-manganese tender prices, market sources told Fastmarkets.The meeting is understood to be aimed at keeping the manganese market stable, market sources added. "We want to keep our prices stable so that the market is sustainable for everyone," a silico-manganese producer told Fastmarkets.Others noted that sili...Read More
Turkish steel mills have continued to hold back from making deep-sea scrap purchases due to fear of product outflow from China, sources said on Tuesday November 20.Chinese rebar is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens. This will soon affect prices all over the world, including Turkish scrap import prices,...Read More
The Comex copper price continued lower in in the US morning on Tuesday November 20, with the rising dollar pressuring the entire commodities sector.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 3.25 cents to $2.7665 per lb."We continue to expect a strong rebound in copper prices by the end of 2018 principally because investors are likely to...Read More
Jittery stock markets and ongoing disappointment over United States/China trade developments continued to put either a cap on the base metals - the exception being tin that broke higher at the start of this week - or keep them under pressure, in the likes of nickel and aluminium.The three-month base metals prices on the London Metal Exchange were on divergent paths this morning, Tuesday November 2...Read More
The London Metal Exchange is planning to launch a lithium contract in the second quarter of 2019 to meet growing demand from the electric vehicle industry, Fastmarkets learned during Asia Copper Week in Shanghai. The contract, announced as part of the exchange's Strategic Pathway in September 2017, will be settled against an index price, with Fastmarkets MB's lithium spot price index one of those...Read More
Chinese buyers have been reluctant to commit to long-term contracts for cobalt raw materials for 2019 during this year's mating season, Fastmarkets has learned.Year-long or multi-year commitments are traditional, but Chinese buyers now intend to purchase cobalt raw materials, including concentrates and hydroxide, on a spot basis, because there is adequate spot supply and because their profit margi...Read More
The initial public offering (IPO) of shares in the newly created Livent Lithium will help the fledgling company to face the challenges of meeting global demand for lithium and to solidify its position as a major supplier to the fast-growing battery industry, according to chief executive officer Paul Graves.The acquisition by Livent's parent company, FMC, of chemicals giant DuPont set the course fo...Read More
Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) have tumbled over the past seven days by $20-55 per tonne due to weak demand and lower offer and deal prices, sources told Fastmarkets on Tuesday November 20.UAEAbout 5,000 tonnes of hot-rolled coil (HRC) from Ukraine was booked at $520-530 per tonne cfr.Chinese material, meanwhile, was on offer to the UAE at $510-520 per...Read More
Steel traders in Asia have been feverishly short-selling their cargoes in recent weeks due to the bearish sentiment in the Asian market, with back-to-back offers for steel products often accompanied by short-selling offers at a wide discount to mill cargoes.These discounts can reach up to $15 per tonne, which indicate the additional price falls that traders expect when short-selling cargoes. Buyer...Read More
China's hot-rolled coil prices fell on Tuesday November 20 amid tumbles across financial markets.DomesticEastern China (Shanghai): 3,790-3,820 yuan ($546-550) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,770-3,780 yuan per tonne, down 40 yuan per tonneHRC prices nationwide fell, though the decreases were relatively smaller in comparison with other steel products such as rebar, a tr...Read More
Domestic rebar producers in the United Arab Emirates (UAE) have announced new prices for December production, although imported rebar prices remained stable over the past week.Steel billet prices, meanwhile, were unchanged because the rebar producers in the UAE have enough stock to last for more than one month, sources told Fastmarkets on Tuesday November 20.Domestic rebarThe country's biggest pro...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE, domestic (Emirates Steel), rebar, offered at 2,016 dirhams ($549) per tonne ex-works, December...Read More
Steel traders in Asia have been feverishly short-selling their cargoes in recent weeks due to the bearish sentiment in the Asian market, with back-to-back offers for steel products often accompanied by short-selling offers at a wide discount to mill cargoes.These discounts can reach up to $15 per tonne, which indicate the additional price falls that traders expect when short-selling cargoes. Buyer...Read More
Turkish steel mills have continued to hold back from making deep-sea scrap purchases due to fear of product outflow from China, sources said on Tuesday November 20.Chinese rebar is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens. This will soon affect prices all over the world, including Turkish scrap import prices,...Read More
Seaborne iron ore prices retreated on Tuesday November 20 amid weakness in the steel and ferrous futures markets.MB 62% Fe Iron Ore Index: $74.65 per tonne cfr Qingdao, down $1.46 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.84 per tonne cfr Qingdao, down $1.46 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.22 per tonne cfr Qingdao, down $0.58 per tonne.MB 58% Fe Premium Index: $64.34 p...Read More
The Singapore Exchange (SGX) will launch high-grade iron ore swaps and futures contracts on December 3. Here is a summary of the contracts' specifications:Name: SGX MB Iron Ore cfr China (65% Fe Fines) SwapsTicker symbol: M65Contract size (one lot): 500 metric tonnesTrading hours (Singapore time)*: T session: 7.25am-8.00pmT+1 session: 8.00.01pm-4.45amLast trading day: 7.25am-8.00pmNote: After the...Read More
Domestic rebar producers in the United Arab Emirates (UAE) have announced new prices for December production, although imported rebar prices remained stable over the past week.Steel billet prices, meanwhile, were unchanged because the rebar producers in the UAE have enough stock to last for more than one month, sources told Fastmarkets on Tuesday November 20.Domestic rebarThe country's biggest pro...Read More
Steel traders in Asia have been feverishly short-selling their cargoes in recent weeks due to the bearish sentiment in the Asian market, with back-to-back offers for steel products often accompanied by short-selling offers at a wide discount to mill cargoes.These discounts can reach up to $15 per tonne, which indicate the additional price falls that traders expect when short-selling cargoes. Buyer...Read More
Chrome ore and alloy prices continued to trend lower in China on Friday November 16 on thin market activities and lingering weak sentiment, while the European and US markets continued to suffer from increased seller competition amid subdued demand conditions. UG2, charge chrome prices soften on thin trading, bearish sentimentChinese domestic market holds flat amid inactivityKorean prices slide on...Read More
Demand for Japanese steel fell 12.4% on the year to 5.1 million tonnes in September, mainly due to the smaller appetite of Japan's manufacturing sector, according to the latest statistics released this week.Manufacturing steel demand in the country fell 10.5% to 1.51 million tonnes during the month, the Japan Iron & Steel Federation (JISF) said.Demand from the Japanese automotive sector fell 13.2%...Read More