Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to poor demand despite rebounding prices for downstream flat steel products."Demand remains lackluster because the price spread between slab and hot-rolled coil is not wide enough for re-rollers to accept," a trader in Taiwan said.Restocking activity in Southeast Asia's main HRC import market in...Read More
CIS export billet prices continued to rise on Monday November 25 after several fresh bookings from last week came to light. However, some market participants said that buying activity had begun to slow since Wednesday because customers had booked significant volumes earlier in the week.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $384 per tonne on November...Read More
China's hot-rolled coil prices slid on Tuesday November 26, with buyers not in a rush to restock amid rising supply.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($526-529) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,640-3,660 yuan per tonne, down 10-30 yuan per tonneA Shanghai-based trader said trading overall thinned on Tuesday, with losses in the futures mark...Read More
Turkish steel mills remained quiet in the deep-sea scrap markets on Tuesday November 26 with prices unchanged, according to market sources.Mills booked four deep-sea cargoes last week at steady prices. The bookings from the Baltic Sea region sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20) throughout the week ended Friday November 22.Mills are still expected to book a few more...Read More
Seaborne iron ore prices fell back below $90 per tonne cfr China on Tuesday November 26 after reclaiming the mark a day earlier, amid losses in steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.30 per tonne, down $1.62 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.33 per tonne, down $1.62 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.71 per ton...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. Latest transaction: pig iron, iron orePig iron United States,...Read More
Seaborne coking coal prices continue to trade in a range-bound manner, with participants keeping a close eye on the impact of the recent supply disruptions on market direction but not seeing them as major price drivers yet.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.70 per tonne, down $1.96 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, unchangedHard...Read More
A coal mine worker was fatally injured at the Carborough Downs mine site in Queensland, Australia, on Monday 25 November, miner Fitzroy Resources said on Tuesday. All operations on the site have been suspended until further notice, it added."We are deeply saddened by this news and Fitzroy extends our deepest sympathies to the family, friends, and colleagues of the worker. The deceased is a long-te...Read More
Further positive signs of a phase one trade deal between the United States and China boosted sentiment across a broad selection of markets on Tuesday November 26, and that included most of the base metals, but so far today metal prices have generally been consolidating.US equity markets climbed to fresh highs on Tuesday after US President Donald Trump said the US and China are close to agreeing a...Read More
Home Builders SPDRs $XHB moved above $46.38 to an all-time high extending an intermediate uptrend.Amazon $AMZN, a NASDAQ 100 stock moved above $1815.06 resuming an intermediate uptrendCouche Tard $ATD.B.CA , a TSX 60 stock moved above $44.07 to an all-time high extending an intermediate uptrendMcDonalds $MCD, a Dow Jones Industrial stock moved above $196.00 completing a base building pattern.TSX T...Read More
The three-month copper price on the London Metal Exchange was marginally higher at the close of trading on Monday November 25, but prices failed to breach nearby resistance on moderately low turnover, while lead futures made the biggest losses over the day.Copper's outright price closed at $5,868 per tonne in the afternoon, despite reaching an intraday high of $5,917 per tonne, while turnover was...Read More
Zinc stocks at Shanghai Futures Exchange-approved warehouses recorded the largest drop in percentage terms in the week ended Friday November 22.Deliverable SHFE zinc stocks declined by 7,411 tonnes - or 13% - week on week to 49,710 tonnes on Friday, with warehouses operated by Ningbo Nine Dragons wharf in Zhejiang registering...Read More
The three-month aluminium price on the London Metal Exchange consolidated during morning trading on Monday November 25, while a fresh inflow of 50,950 tonnes did little to move the metal's stagnant price.Aluminium's outright price was recently seen at $1,738 per tonne, a dollar shy of Friday's closing price of $1,739 per tonne, while just over 1,500 lots were exchanged as of 9:05am London time.&nb...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 25 that are worth another look.Brazilian rebar suppliers ArcelorMittal and Gerdau have announced a price hike of up to 12% for January orders, Fastmarkets understands.Seaborne manganese ore prices for both grades rose by more than 1% in the week ended Friday November 22 after sentiment improved in response to r...Read More
Chinese markets for chrome ore and alloy were stable week on week on Friday November 22 in the run up to announcements for December ferro-chrome tender prices. Ore and alloy prices flat in China ahead of new tender price announcement Alloy prices weaken in Japan, South Korea European price range narrows, with market participants reporting continued poor demand US spot market sta...Read More
Kunming Rongke New Materials has won the entirety of the bismuth stock held by the collapsed Fanya Metal Exchange in an auction that ended on Saturday November 23, according to the official auction results posted on the Alibaba judicial online platform.Kunming Rongke won the 19,228.05 tonnes of bismuth with a bid of 606.07 million yuan ($86.09 million). The winning bid, which was also the starting...Read More
Key data from the pricing sessions in London and Shanghai in the week ended Friday November 22. Europe Key drivers Prices for both grades of silicon continued to gain support with producers still reluctant to make any concessions on their offer prices in a bid to extend the rally until the end of the year. Even though during the market was less active last week than in the previous two...Read More
Turkish steel producers made no deep-sea scrap purchases on the first working day of the week, but are still expected to buy more cargoes for December delivery, sources told Fastmarkets on Monday November 25.Mills booked four deep-sea cargoes last week at steady prices. The latest bookings were from the Baltic Sea region and sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20)."I thin...Read More
Another wave of optimism regarding United States-China trade talks has boosted broader markets and weakened havens, but the base metals have not taken much notice.Asian equities stronger led by a 1.3% rise in the Hang Seng.Base metalsThree-month base metals prices on the London Metal Exchange were mixed this morning, Monday November 25. Nickel was the main mover with a 0.7% fall to $14,540 per ton...Read More
The leader of the Chilean mining association Consejo Minero has claimed that he has seen no evidence that the unrest that has wracked Chile since October may reduce investment into the country's important mining sector, which accounts for around of a third of global lithium supplies. The organization's executive president Joaqu?-n Villarino told influential Chilean radio show, PAUTA y Bloomberg, a...Read More