The latest news and price moves to start the Asian day on Wednesday October 31.Base metal prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday October 30, with broad strength in the US dollar index prompting sharp drops in the three-month copper and zinc contract prices while aluminium drifted to levels not seen since August 2017. Read more in our live futures r...Read More
Competition regulators in the European Union have opened an in-depth investigation into the 50:50 European flat-steel joint venture between ThyssenKrupp and Tata Steel Europe, the European Commission (EC) said on Tuesday October 30.The EU authorities will have 90 working days, until March 19, 2019, to make a decision in the case. The EC has opened the investigation to assess the proposed creatio...Read More
Buying activity in Southeast Asia continued to support CIS billet exporters this week as several new cargoes were heard sold to the region.But the Fastmarkets' daily CIS export billet index remained unchanged day-on-day at $458 per tonne fob Black Sea as the deals heard were allegedly done from Far East ports of Russia, which are not included in the assessment. One cargo of...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly stable over the past week, with demand remaining limited, sources told Fastmarkets on Tuesday October 30.UAE Hot-rolled coil from Russia was on offer to the UAE at $560-565 per tonne cfr, with one buyer bidding $550 per tonne cfr. Taiwan material was on offer to the UAE at $585 per tonne cfr, while Saudi Arabia wa...Read More
Export prices for flat steel from the Commonwealth of Independent States (CIS) continued to fall this week, with offers and deals heard at lower levels, according to market participants.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil fell to $495-510 per tonne fob Black Sea on Monday October 29, down from $517-523 per tonne fob Black Sea a week earlier.Offers fr...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil, offered at $570-580 per tonne cfr, to Saudi Arabia.Russia, export, hot-rolled coil, offered at $560-565 per ton...Read More
Lower November ferro-chrome tender prices from major stainless steel mills caused ore and alloy markets to stall or weaken in the regions Fastmarkets follows in the week ended Friday October 26. UG2 chrome ore prices stall, Turkish lumpy chrome ore prices dropChinese domestic spot ferro-chrome prices pauseCharge chrome import prices weakenAlloy prices hold in Japan, South KoreaAlloy prices weaken...Read More
Chinese ferro-silicon prices held firm, with market participants awaiting further direction from November tender purchase prices, while the European and US spot markets continued to suffer from inactivity amid 2019 contract negotiations. Chinese domestic market awaits November tender prices for direction Chinese export offers flat on inactivity European ferro-silicon market dips to new...Read More
Fastmarkets proposes to decrease the minimum tonnage for its benchmark in-warehouse Rotterdam ferro-tungsten price assessment. At present, Fastmarkets' minimum lot size for its in-warehouse Rotterdam ferro-tungsten price assessment is 5 tonnes. A reduction in the minimum tonnage requirement would allow a larger number of deals to be captured by the price assessment, since an increasing number of s...Read More
CME Group's US Midwest busheling futures contract continued daily trading, with a 45-lot sale transacted on Monday October 29. Of that, 33 lots (660 gross tons) are set to expire in January 2019, with eight lots expiring in March 2019 and four lots in April 2019, CME Group's final report for Monday trading...Read More
Turkish domestic scrap prices have increased over the past week due to tight supply and increasing costs for imported scrap, sources said on Tuesday October 30.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,830-1,940 ($329-348) per tonne delivered on Tuesday, narrowing upward from last week's TRY1,770-1,940 per tonne.Long steel mill ID?? increased...Read More
Prices for some Australian fines continued to strengthen on Tuesday October 30, especially at Chinese ports, amid supply tightness.MB 62% Fe Iron Ore Index: $76.71 per tonne cfr Qingdao, up $0.23 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.74 per tonne cfr Qingdao, up $0.23 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $80.17 per tonne cfr Qingdao, down $0.06 per tonne.MB 58% Fe Premium I...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....Read More
Fastmarkets has corrected its EU domestic Stainless Steel 304 Europe Raw Materials Index, which was published incorrectly on Monday October 22 due to a data entry error.Fastmarkets' European stainless steel index was incorrectly published as $1,547.12 per tonne after an exchange rate calculation error. The correct price for that date is $1,299.53 per tonne.The Fastmarkets price book and database h...Read More
Trading activity in the seaborne coking coal spot market was thin on Tuesday October 30 with end users still feeling lukewarm about current offers. Top Australian brands were offered around $222-225 per tonne cfr China during the day while offers for second-tier hard coking coal were around $200-205 per tonne cfr China, market sources told Fastmarkets."The steel market is doing well and will do we...Read More
Base metals prices on the London Metal Exchange were predominantly lower during morning trading on Tuesday October 30, with escalated US-Sino trade tensions hampering base metals amid weaker oil prices and a strong US dollar index. The three-month zinc price fell below $2,600 per tonne for the first time since October 17, despite drawdowns in LME stock, which remains at its lowest level since July...Read More
Eastern China's hot-rolled coil prices continued to fall on Tuesday October 30 amid low demand, with buyers putting off restocking plans on expectations that the market would weaken further.DomesticEastern China (Shanghai): 4,140-4,150 yuan ($595-596) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 4,080-4,090 yuan per tonne, unchangedDemand remained weak despite a slight pick-up in...Read More
Strategic & Precious Metals Processing (SPMP) has delayed the production of antimony metal at its antimony-gold project in Oman, SPMP's parent company, Tri-Star Resources, said on Tuesday October 30.The first round of antimony production was initially expected at the end of October, however, this fell through without a new timing being specified yet. Tri-Star has a 40% equity interest in SPMP, whi...Read More
Good morning from Fastmarkets' offices in Asia, bringing the latest news and pricing stories on Tuesday October 30. Base metal prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Tuesday October 30 due to a firm dollar index, with nickel the only metal to gain on...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade.Index futures moved higher following release of the October ADP Employment report at 8:15 AM EDT. Consensus was 195,000 versus a revised 218,000 in September. Actual was 227,000Facebook gained $7.32 to $153.55 after reporting higher third quarter revenues. General Motors gained $2.61 to $...Read More