The Comex copper price was lower in the US morning on Thursday February 28 after soft Chinese manufacturing data dampened sentiment for the metal. The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched down 0.45 cents to $2.9580 per lb. Overnight, China's manufacturing and non-manufacturing PMIs for February both disappointed at 49.2 and 54.3 respect...Read More
Hong Kong Exchanges and Clearing (HKEX), owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.In its financial statement for 2018, the exchange operator recorded a revenue increase of 20% year on year at H...Read More
Rebar and wire rod prices in Turkey's domestic markets have continued to weaken because of sluggish demand, especially from the construction sector, sources said on Thursday February 28.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY2,950-3,050 ($556-575) per tonne ex-works on Thursday, down from the TRY3,100-3,150 per tonne of last week.The domestic rebar price in the...Read More
The Comex copper price was lower in the US morning on Thursday February 28 after soft Chinese manufacturing data dampened sentiment for the metal. The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched down 0.45 cents to $2.9580 per lb. Overnight, China's manufacturing and non-manufacturing PMIs for February both disappointed at 49.2 and 54.3 respect...Read More
Aqua Metals Inc has signed over operational, maintenance and management services for its AquaRefining facility in McCarran, in the US state of Nevada, to Veolia North America Regeneration Services LLC, the company said.The long-term contract, which follows extensive diligence and engineering evaluations, begins next week with the goal of bringing plant operations to 16 modules of AquaRefining capa...Read More
Chile's copper production fell in January as the contained copper in each mined tonne diminished - as well as the refining output altogether - during the month, national statistics institute INE said on Thursday February 28.Output for the month totaled 460,064 tonnes of cathodes, concentrates and blister. This was down by 4.5% from 481,587 tonnes in the corresponding month a year before, and down...Read More
Hong Kong Exchanges and Clearing (HKEX), owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.In its financial statement for 2018, the exchange operator recorded a revenue increase of 20% year on year at H...Read More
The London Metal Exchange has closed its market consultation on its proposed arrangements for the use of enforcement proceeds, highlighting three principal options it plans to consider. The consultation, which began in November 2018, sought the feedback of members, warehouses and other interested parties, with the bourse receiving eight formal responses in connection with the proceeds, it said in...Read More
Lead's three-month price on the London Metal Exchange climbed over 1% during morning trading on Thursday February 28, with a continued draw on European supply prompting upward price action, while trade optimism supports buying despite disappointing Chinese PMI data.This week, more than 31,000 tonnes of lead has been booked for removal out of mostly LME-listed warehouses in Europe, while the metal'...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday February 28* Copper -$196.83 (-1,318.48 yuan) Aluminium -$342.9 (-2,296.97 yuan) Zinc -$139.37 (-933.57 yuan) Nickel -$35.86 (-240.24 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 28 that are worth another look.Hong Kong Exchanges and Clearing, owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.Th...Read More
Turkish long steel export prices have continued to slip over the past week due to limited demand, sources said on Thursday February 28.Fastmarkets' weekly price assessment for rebar exports out of Turkey on Thursday was $470-480 per tonne fob on an actual weight basis, down from last week's $490-500 per tonne fob.The Turkish producers lowered their offers to...Read More
Steel billet import prices in Egypt have fallen again over the past seven days with demand remaining weak, sources told Fastmarkets on Thursday February 28.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $465-470 per tonne cfr on Thursday, down from $480-490 per tonne cfr last week.Billet producers in the CIS region...Read More
Export prices for steel billet from Iran narrowed downward over the week ended Wednesday February 27 amid negative sentiment in the global billet market, after declines in the prices for scrap and iron ore raw materials.Iranian billet offers slipped to $400 per tonne fob in the last week of February, compared with the price of $410-420 per tonne fob sought by suppliers in previous weeks.A 40,000-t...Read More
Fastmarkets' price book entry for Iranian export slab price showed an incorrect value on Wednesday February 27, which has now been amended.The correct price, as assessed on February 27, for Iranian exports slab price, was $360-390 per tonne fob.Fastmarkets' price book and database have been updated accordingly.To provide feedback on this price or if you would like to provide price information by b...Read More
China's hot-rolled coil exporters kept their prices steady on Thursday February 28 although trading has been thinner this week, amid slight movements in the domestic market.DomesticEastern China (Shanghai): 3,810-3,840 yuan ($570-574) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,740-3,760 yuan per tonne, widening downward by 10 yuan per tonneIn Shanghai, HRC was sold around 3,810-3,8...Read More
Physical iron ore prices rose on Thursday February 28 after being soft for a week, in line with gains in the futures and swaps markets.Fastmarkets MB 62% Fe Iron Ore Index: $85.29 per tonne cfr Qingdao, up by $1.75 per tonne.Fastmarkets MB 62% Fe Pilbara Blend Fines Index: $84.69 per tonne cfr Qingdao, up by $1.75 per tonne.Fastmarkets MB 62% Fe Iron Ore Index-Low Alumina: $86.97 per tonne cfr Qin...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 transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at $88.30 per tonne cfr China,...Read More
Participants in the seaborne coking coal market kept to the sidelines on Thursday February 28 to wait for a clearer price trend to emerge. "There is an offer for a cargo of a top Australian brand of materials, scheduled for loading in early April, via a miner's tender that will conclude tomorrow. There will be some clarity on prices then," a Chinese trading source said. A second Chinese trader is...Read More
Chinese battery materials producers, who are the largest consumers of cobalt sulfate and cobalt tetroxide, have hesitated in purchasing any cobalt salts this week amid rapid falling international cobalt metal prices.The resulting thin buying appetites have forced suppliers to lower their spot offer prices to facilitate sales. Fastmarkets assessed the Chinese cobalt sulfate, basis 20.5% Co market p...Read More