China's ferrous futures fell across the board during morning trading on Tuesday January 15 apart from the coke contract, which ended the session slightly higher.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,523 yuan ($521) per tonne, down 27 yuan per tonneMay hot rolled coil: 3,411 yuan per tonne, down 27 yuan per tonne Dalian Commodity Exchange May iron ore: 509....Read More
China's hot-rolled coil prices dropped on Tuesday January 15 on declining futures, though exporters maintained their high offers amid a stronger yuan.DomesticEastern China (Shanghai): 3,620-3,640 yuan ($535-538) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, down 30 yuan per tonnePrices in the spot market dropped after a weakening of the futures market durin...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday January 11.China ?EUR? The price for exported grade-553 silicon in China was unchanged for a sixth consecutive week amid thin inquiries.?EUR? Some Chinese exporters had raised their offer prices due to the strengthening of the yuan against the dollar, but no deals were concluded in the week ended Jan...Read More
UG2 chrome ore prices showed signs of improvement for the first time since October due to strengthening currencies in the week ended Friday January 11. UG2 prices tick up for the first time since OctoberChinese domestic ferro-chrome stalls, charge chrome inches lowerAlloy prices flat in Japan, South KoreaEuropean alloy prices under pressure UG2 chrome ore prices edged higher on Friday due to the...Read More
In China, the falling alloy market weighed on manganese ore prices, especially for lower-grade material, in the week ended Friday January 11, while the silico-manganese price in India increased. Price of 37% manganese ore, fob, falls by 35 cents per dmtuOre and alloy prices weaken in ChinaSilico-manganese price moves up in India, down in USAlloy prices in Europe unmoved78% FeMn market in US ticks...Read More
Three-month base metals prices on the London Metal Exchange were firmer across the board this morning, Wednesday January 16, with prices up by an average of 0.8%. This after further temporary stimulus measures from China gave sentiment a boost. Zinc led the advance with a 1.7% increase to $2,497 per tonne, followed by copper that was up by 1.1% at $5,973 per tonne. Tin was the laggard with a 0.1%...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.First Data gained $3.50 to $20.99 and Fiserv dropped $3.44 to 71.60. Fiserv has offered to acquire First Data (FDC $) in a share exchange valued at $22 billion. Each share of First Data will convert into 0.303 shares of Fiserv.United Continental (UAL $81.20) is expected to open higher afte...Read More
Base metals prices on the London Metal Exchange were mostly lower day-on-day at the close of trading on Monday January 14, with investors continuing to limit commodity investment after weak Chinese export data fueled concerns of a slowdown in global economic growth.The three-month lead price fell furthest over the afternoon and remained in negative territory, trading at less than $2,000 per tonne...Read More
KGHM Polska Miedz's Rudna copper mine, Europe's largest copper ore mine, has suspended part of its operations following a fatal earthquake in the southwest of Poland last weekend, Fastmarkets learned.One of the branches, called G-7, has been closed while the rest of the operation continues with production, KGHM spokeswoman Anna Osadczuk said on Monday, without disclosing an estimate on the affecte...Read More
Base metals on the London Metal Exchange were collectively lower during morning trading on Monday January 14, weakened by poor economic data from China at a time when global trade uncertainty continues to dampen risk appetite. Worst affected, zinc's three-month price was down by just over 1% this morning, falling to an intraday low of $2,455.50 per tonne despite a continued drawdown in LME stocks,...Read More
KGHM Polska Miedz's Rudna copper mine, Europe's largest copper ore mine, has suspended part of its operations following a fatal earthquake in the southwest of Poland last weekend, Fastmarkets learned.One of the branches, called G-7, has been closed while the rest of the operation continues with production, KGHM spokeswoman Anna Osadczuk said on Monday, without disclosing an estimate on the affecte...Read More
Much has been said of a potential increase in tellurium prices after concerns about a tellurium deficit in 2020 were raised in recent months; but despite firm demand from the solar industry, there are no clear indicators that prices will peak anytime soon due to current market dynamics. Robust solar demand The main driver of increased tellurium consumption is the growth in the cadmium telluride ph...Read More
The global antimony market was largely quiet in the week ended Friday January 11, with prices in China and Europe unchanged. In Europe, Fastmarkets' price assessment for MMTA standard grade II antimony, in-warehouse Rotterdam, was stable week on week at $7,700-7,900 per tonne on Friday. The price for trioxide-grade antimony, in-warehouse Rotterdam, was also steady at $7,900-8,100 per tonne on Frid...Read More
The Turkish steel producers skipped the first day of the week without any deep-sea bookings, while prices were little changed, sources said on Monday January 14.Turkish mills have booked some deep-sea cargoes in the past week from US and Baltic Sea suppliers at around $280 per tonne cfr for HMS 1&2 (80:20) to replenish their stock levels. However, the weakness in finished steel markets w...Read More
Domestic scrap prices in Turkey remained largely stable on the back of moderate demand over the past week, sources said on Monday January 14.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,450-1,590 ($266-292) per tonne delivered on January 14, widening from TRY1,480-1,550 per tonne last week.Long and flat steel producer...Read More
Comex copper prices softened Monday morning in the United States amid new evidence that the trade war is hurting the Chinese economy.The copper price for March settlement on the Comex division of the New York Mercantile Exchange declined 3.10 cents to $2.6310 per lb. In December, Chinese trading activity declined as part of the ongoing trade war with the US. The trade balance rose to $395 bil...Read More
The antimony and gold processing facility that is being built in the Port of Sohar Free Zone in Oman by Strategic & Precious Metals Processing (SPMP) will need further capital expenditure and additional working capital, Fastmarkets heard on Monday January 14.This was due to delays to the production of first metal and to the full commissioning of the plant.Tri-Star Resources, which has a 40% stake...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Monday January 14, following the release of weak Chinese trade data.Three-month tin was the only LME base metal in positive territory with a 0.4% gain, while aluminium was little changed and the rest were down between 0.7% for nickel and 1% for zinc - with copper off by 0.8% at $5,911 per tonne....Read More
Key data from the Friday January 11 pricing session in Europe.Key drivers - Spot market inquiries picked up in the first full week of January, but an overhang of alloy-grade material not committed to long-term contracts after an aggressive fourth-quarter mating season generated aggressive offers. - Alloy-grade business was concluded as low as around $20 per lb for inquiries...Read More
China's hot-rolled coil prices picked up on Monday January 14 following increases in the futures market, while exporters kept their offers high amid a strengthening of the yuan.DomesticEastern China (Shanghai): 3,630-3,650 yuan ($537-540) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tianjin): 3,630-3,650 yuan per tonne, up 10-20 yuan per tonnePrices rose nationwide during the da...Read More