China's domestic rebar prices continued dropping on Tuesday November 13, leading to higher buying interest. China's domestic rebar prices kept dropping on Tuesday November 13, and the lower prices led to higher trading activity. Domestic Eastern China (Shanghai): 4,420-4,450 yuan ($635-639) per tonne, narrowed down 10 yuan per tonneNorthern China (Beijing): 4,250-4,300 yuan per tonne, down 50 yuan...Read More
The domestic Chinese ferro-silicon market was stable in the week ended Friday November 9, while the European price stabilized after the prior week's drop and the US ferro-silicon spot market held week on week. Chinese suppliers focus on domestic market, export price lower on yuan depreciation Europe steadies losses, awaits outcome of industry conference US market focuses on long-term...Read More
The decision by the United States Treasury to extend the deadline for US companies to wind down their contracts with Russian producer Rusal has had little effect on global aluminium premiums over the week ended Tuesday November 13, with the market still watching the backwardated December-January spreads. Rotterdam premiums unchanged; market focused on first-quarter deals MJP dips on backwardation...Read More
Closing prices for base metals on the London Metal Exchange were mixed on Tuesday November 13, with lead the biggest positive move of the day while zinc failed to close above its nearby support level amid record-low LME inventories for both metals. The three-month lead price climbed over 1% today, recovering losses made at Monday's close and pushing above $1,950 per tonne to $1,952 per tonne at 5p...Read More
The annual global benchmark for copper treatment and refining charges (TCs/RCs) might show a small fall in 2019 because of the tightening supply of copper concentrates, according to Canada-based financial services provider BMO Capital Markets.Copper miners, led by Freeport and Antofagasta, and smelters, led by Chinese firms Tongling and Jiangxi Copper, are currently in the middle of contract negot...Read More
G?(C)camines has requested an emergency meeting with the technical teams of the stakeholders in Katanga Mining Limited but said it had not been consulted on a decision to halt the export and sale of cobalt from its Kamoto Copper Company (KCC) unit.Exports and sales from the Glencore-owned operation in the Democratic Republic of Congo (DRC) were suspended last week after excessive levels of uranium...Read More
The latest news and price moves to start the Asian day on Wednesday November 14.Base metal closing prices on the London Metal Exchange were mixed on Tuesday November 13, with lead showing the biggest positive move of the day while zinc failed to close above its nearby support level amid record-low LME inventories for both metals. Read more in our live futures report.Here are how prices l...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 13.Base metals on the London Metal Exchange were predominantly higher during morning trading on Tuesday November 13, with upward price action largely impervious to a continued surge in the US dollar index and optimism over US-China trade relations boosting commodity investments.Here's how base metals...Read More
Good morning from Fastmarkets' offices in Asia as we bring you the latest news and pricing stories on Tuesday November 13.Base metals prices on the Shanghai Futures Exchange (SHFE) were broadly down during Asian morning trading on Tuesday November 13, pressured by a stronger US dollar, meanwhile zinc made moderate gains on falling stocks. Check Metal Bulletin's live futures report here. The US Sec...Read More
The annual global benchmark for copper treatment and refining charges (TCs/RCs) might show a small fall in 2019 because of the tightening supply of copper concentrates, according to Canada-based financial services provider BMO Capital Markets.Copper miners, led by Freeport and Antofagasta, and smelters, led by Chinese firms Tongling and Jiangxi Copper, are currently in the middle of contract negot...Read More
While the winter season begins in China, the ferrous market is wondering whether Chinese steelmakers will continue to move toward higher-grade, lower-impurity iron ore - an affinity they have demonstrated over the last two years.This affinity is the result of the Chinese government's policy shift that put more focus on protecting the environment as well as its supply-side reforms for the steel ind...Read More
Closing prices for base metals on the London Metal Exchange were mixed on Tuesday November 13, with lead the biggest positive move of the day while zinc failed to close above its nearby support level amid record-low LME inventories for both metals. The three-month lead price climbed over 1% today, recovering losses made at Monday's close and pushing above $1,950 per tonne to $1,952 per tonne at 5p...Read More
The Comex copper price staged a modest recovery in the US morning on Tuesday November 13, with the dollar index showing some weakness and allowing the price to climb.The copper price for December settlement on the Comex division of the New York Mercantile Exchange recovered 1.75 cents to $2.6940 per lb.Also, renewed hopes for a US-China trade deal is lending support to the metals...Read More
Seaborne coking coal prices were mostly flat on Tuesday November 13 amid inactivity in the spot market.A cargo of second-tier hard coking coal was sold to an end user in southern China at around $195 per tonne fob Australia, market sources told Fastmarkets. They said the cargo was part of a term contract for the month of December."Though this is not a spot transaction, it is still rather closely a...Read More
The Comex copper price staged a modest recovery in the US morning on Tuesday November 13, with the dollar index showing some weakness and allowing the price to climb.The copper price for December settlement on the Comex division of the New York Mercantile Exchange recovered 1.75 cents to $2.6940 per lb.Also, renewed hopes for a US-China trade deal is lending support to the metals...Read More
The Turkish steel mills have continued their silence in the deep-sea scrap markets because of a downturn in rebar export values, sources said on Tuesday November 13.After booking two cargoes from the United States late last week, Turkish mills paused their purchases and started to watch the finished steel markets.But a couple of the latest rebar sales have indicated a decrease in prices, so the mi...Read More
The latest news and price moves to start the Asian day on Wednesday November 14.Base metal closing prices on the London Metal Exchange were mixed on Tuesday November 13, with lead showing the biggest positive move of the day while zinc failed to close above its nearby support level amid record-low LME inventories for both metals. Read more in our live futures report.Here are how prices l...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 13.Please click...Read More
Novelis will spend $175 million on expanding facilities at its Pindamonhangaba plant in South America, driven by solid consumer packaging demand, the US-headquartered firm said on Tuesday November 13. The rolled and recycled aluminium producer said the new facilities will expand rolling production by 100,000 tonnes to 680,000 tonnes per year of aluminium sheet, and recycling by 60,000 tonnes to 45...Read More
The export market for flat steel products from the Commonwealth of Independent States (CIS) softened further in the week ended Monday November 12 on low demand and a strong dollar.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) narrowed downward to $490-495 per tonne fob Black Sea on November 12, from $490-510 per tonne fob Black Sea a week earlier."Prices are...Read More