European manganese alloys prices are extending their losses in the spot market in line with weaker demand from the steel sector, and further weighed by persistent falls in manganese ore prices in recent months, industry sources told Fastmarkets.The silico-manganese market weakened by almost 4% to ?,?840-860 ($926-949) per tonne from ?,?880-890 per tonne in the past week, after suppliers cut their...Read More
A summary of the financial results of stainless steel producer Aperam for the third quarter, 2019.In briefResults for the three month period ending September 30, 2019, show "a seasonal trough and challenging market conditions," Aperam said in it's quarterly report.Earnings before interest, taxes, depreciation...Read More
The Chinese ferro-silicon market has been supported by firmer steel prices over the past week despite muted demand for volumes of feed alloy, while in Europe, the market has been steady for two consecutive weeks despite no reported trades, with tighter supply underpinning spot prices. Chinese domestic alloys prices steady amid firmer steel prices. Chinese export market stable. European market unch...Read More
Markets in general are under pressure following United States President Donald Trump’s speech at the Economic Club of New York on Tuesday November 12, where he failed to provide any reassurance that a trade deal had been reached with China; indeed, Trump even threatened that tariffs would be “raised very substantially” if a deal was not reached.In response, gold prices and US treasu...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Investors are waiting for testimony by Federal Reserve Chairman Jerome Powell before the Congressional Joint Economic Committee at 11:00 AM EST.Index futures were virtually unchanged following release of the October Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.3%...Read More
The three-month nickel price on the London Metal Exchange continued to fall over the course of Monday November 11 to end the day's trading down by just under 4% against high turnover, while the rest of the complex similarly closed lower. The nickel futures price closed at $15,565 per tonne on Monday afternoon, its lowest 5pm closing price since August 7. Turnover in nickel was high over the day wi...Read More
Stagnant tin prices could be set to climb after a bridge collapsed on a key route to Alphamin Resources' Bisie tin mine in the Democratic Republic of the Congo, Central Africa.The Mauritius-based mining company confirmed this week that the Maiko Bridge at Lubutu - on a key route to the Bisie tin mine in the Walikale territory of DRC - collapsed on October 30, some 53 kilometers sout...Read More
Miner-smelter Nyrstar has begun the final stages of a planned restart to its Port Pirie lead smelter in Australia, with the first feed in its top submerged lance (TSL) furnace expected later this week, it said on Monday November 11. The smelter will be restarting 13 weeks after the company announced a "forced shutdown" on August 9 caused by an incident at the hearth in the primary smelter that req...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More
Chilean copper production grew by 1.2% year-on-year in September, as higher output from state-owned Codelco offset a drop from Escondida and Collahuasi, the country's copper commission, Cochilco, said on Thursday November 7.Total production reached 483,800 tonnes of copper content during September, up from 478,200 tonnes a year earlier.Output during the January-September period came to 4.24 millio...Read More
Key data from the pricing sessions in London and Shanghai in the week to Friday November 8. China Key drivers The Chinese domestic tungsten concentrate market has been under pressure since late October due to lukewarm demand from end users after customers retreated from the market. Concentrate suppliers cut their offer prices to encourage buying in the face of weak market confidence. The pr...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 8. China Key drivers The antimony, MMTA standard grade II, ddp China price fell for the first time since the end of August, which was just before the price started trending upward in response to the successful auction of stocks held by the defunct Fanya Metal Exchange in early September. Some supp...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 8. China Key drivers Chinese silicon export market continued to gain upward momentum for the third consecutive week in response to supply tightness in the domestic market after southern Chinese refiners halted their operations due to a lack of cheap hydroelectric power during dry season which typically lasts...Read More
Turkish steel producers have booked more deep-sea cargoes for December delivery and prices have remained firm, sources told Fastmarkets on Monday November 11.Five deep-sea cargoes, totaling around 160,000 tonnes, were heard at the start of the week.A steel mill in northern Turkey booked a European cargo comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $...Read More
Turkish domestic scrap prices have continued to climb over the past week under the influence of rising imported scrap values, sources said on Monday November 11.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,455-1,560 ($252-270) per tonne on Monday, up from the TRY1,400-1,555 per tonne of last week.The steel producers and a major scrap...Read More
Concerns that China-United States trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampened sentiment in the metals.That said, US equities went on to brush off the news with markets closing at record highs again on Friday November 8. Gold prices break below support as US...Read More
The downtrend in the market for hot-rolled and cold-rolled steel sheet in Russia's Central Federal District around Moscow has continued, under pressure from low end-user demand, sources told Fastmarkets on Monday November 11.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,500-41,000 roubles ($619-642) per tonne on November 11, including 20% VAT...Read More
The export market for hot-rolled and cold-rolled coil from the Commonwealth of Independent States has improved on a bullish mood among suppliers, which preferred to step back from the market rather than to continue sales at low prices, sources told Fastmarkets on Monday November 11.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $375-385 per tonne on November 11, up fr...Read More
Producers of hot-rolled coil in Northern Europe have been holding back from offering material amid low prices, sources told Fastmarkets on Monday November 11.This break in trading will support domestic prices which have finally stabilized after several months of decreases, the sources said."I think mills will prefer to wait before making new offers, until buyers become hungry for orders," one Euro...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More