China's rebar prices kept moving lower in both the domestic and the export markets on Monday November 19 amid sparse trading. Domestic Eastern China (Shanghai): 4,250-4,300 yuan ($613-620) per tonne, down 70 yuan per tonneNorthern China (Beijing): 4,030-4,080 yuan per tonne, down 100 yuan per tonneThe weekend billet losses and Monday's drop in futures prices pushed down spot rebar prices...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
Turkish steel producers continued to hold back from the deep-sea scrap market on Monday November 19, because they expect more supplies from China to hit the market in the next few weeks.This is especially so for Chinese rebar, which is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens."The price in China is falling....Read More
Turkish domestic scrap prices have softened over the past week with some mills reducing their buy prices because of high stock levels, sources said on Monday November 19.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,650-1,940 ($309-363) per tonne delivered on Monday, widening downward from last week's TRY1,800-1,940 per tonne.This change in the as...Read More
Iron ore prices largely picked up on Monday November 19, apart from those for higher grades, leading to a further narrowing of the spread between 65% Fe and 62% Fe indices.MB 62% Fe Iron Ore Index: $76.11 per tonne cfr Qingdao, up $0.80 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.30 per tonne cfr Qingdao, up $0.19 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.80 per tonne cfr Qingdao,...Read More
CIS export slab prices continued to decline in the week ended Monday November 19, spurred by the weakening in the finished flat steel sectors both in the CIS and in the global markets, Southeast Asia in particular."Slab prices don't seem to have any upward momentum due to weak markets for hot-rolled coil [HRC] worldwide," a buyer source in East Asia said. "If the HRC [market] doesn't improve, re-r...Read More
CIS export billet prices continued to soften on Monday November 19 with lower bids and offers starting to be heard in the market, after the weakening of prices for imported scrap and exports of finished long steel in Turkey and the CIS.The downturn in the Asian billet market, amid lower offers and pessimism among buyers, created by the possibility of China's return to the export market, was anothe...Read More
Import prices for steel slab in Southeast Asia and East Asia fell in the week to Monday November 19, on lower bids from suppliers and persistently low demand as a result of sluggish domestic hot-rolled coil sales.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $460-470 per tonne cfr on November 19, down $10 per tonne from a week earlier.Major Indon...Read More
The Chinese ferro-silicon market was stable in the week ended Friday November 16, extending a steady trend in line with supply and demand, while the European price moved downward because the quiet market encouraged lower offer prices. China prices supported on stable fundamentals European prices fall amid quiet market US spot market inactive, focus remains on long-term contract negotiations.China...Read More
The Chinese ferro-silicon market was stable in the week ended Friday November 16, extending a steady trend in line with supply and demand, while the European price moved downward because the quiet market encouraged lower offer prices. China prices supported on stable fundamentals European prices fall amid quiet market US spot market inactive, focus remains on long-term contract negotiations.China...Read More
Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 while supply disruptions from Indonesia are helping boost tin back towards $20,000 per tonne.Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 amid continued pressure from global trade tensions, while persistent supply disruptions from Indone...Read More
Key data from the pricing sessions in Shanghai, New York and London in the week ending on Friday November 16.China The export price for grade-553 silicon in China continued to drop due to thin spot inquiries amid weak demand. Rising cargoes at major ports in China added to the additional downward pressure on the price. Market participants have suggested that demand will resume in...Read More
The market for hot-rolled and cold-rolled steel sheet in Russia's Central Federal District around Moscow has remained weak despite mill expectations of an improvement in demand after an explosion at Kazakhstan's ArcelorMittal Temirtau. ArcelorMittal Temirtau, which is is the largest supplier of imported flat steel products in Russia, partly suspended operations on Saturday November 10&nb...Read More
The latest news and price moves to start the Asian day on Tuesday November 20.Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 while supply disruptions from Indonesia are helping boost tin prices back toward $20,000 per tonne. Read more here in our live futures report.Here is how prices looked at the close of trading:Unwavering demand for...Read More
The latest metal markets news and price moves to start the North American day on Monday November 19. Base metals prices on the London Metal Exchange were mostly higher during morning trading despite hawkish rhetoric on the US-China trade relations while a softer dollar index continues to support investment. Here's how base metals prices looked at 11:33am London time:Read our live futures report he...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday November 19.Base metal prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Monday, supported by a retreat in the dollar following dovish rhetoric from the United States Federal Reserve at the end of last week. At 96.44 as at 10.02am Shanghai...Read More
Ross Miles has joined Viant Commodities as a trader based in London after leaving Kyen Resources following the latter's recent financial troubles. According to Miles' LinkedIn account, he left his role as head of European metals and global recycled metals in September this year. He had worked at Kyen...Read More
Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 while supply disruptions from Indonesia are helping boost tin back towards $20,000 per tonne.Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 amid continued pressure from global trade tensions, while persistent supply disruptions from Indone...Read More
Antofagasta will target record copper output in 2019 while expecting the market to head into a small deficit next year, boosting copper prices, its chief executive officer Ivan Arriagada said in an interview with Fastmarkets.The London-listed Chilean copper miner has issued guidance to produce 750,000-790,000 tonnes of copper in 2019, up 8% from this year's expected 705,000-720,000 tonnes."It will...Read More
Iron ore prices largely picked up on Monday November 19, apart from those for higher grades, leading to a further narrowing of the spread between 65% Fe and 62% Fe indices.MB 62% Fe Iron Ore Index: $76.11 per tonne cfr Qingdao, up $0.80 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.30 per tonne cfr Qingdao, up $0.19 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.80 per tonne cfr Qingdao,...Read More