Seaborne iron ore prices fell below $70 per tonne cfr China on Tuesday December 18 amid expectations of more stringent implementation of steelmaking restrictions in China.MB 62% Fe Iron Ore Index: $69.03 per tonne cfr Qingdao, down $1.44 per tonne. MB 62% Fe Pilbara Blend Fines Index: $68.83 per tonne cfr Qingdao, down $1.44 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $71.58 per tonne cfr Qin...Read More
Base metals on the London Metal Exchange were lower across the board during morning trading on Tuesday December 18, with a broad sell-off across the complex capping prices, while another fresh inflow of more than 57,000 tonnes of aluminium did little to spur price action. After more than 104,000 tonnes of aluminium inflows this week, including a net inflow of 57,700 tonnes today, the metal's three...Read More
Novolipetsk Steel (NLMK), Russia's largest steelmaker, will increase pig iron output at its Lipetsk site to meet own production needs, the company said on Tuesday December 18.NLMK will boost blast furnace (BF) No6 capacity by 8%, to 3.4 million tonnes per year, thus, the company will add around 250,000 tpy of pig iron capacity, Fastmarkets understands. Currently, the company is installing new blas...Read More
French bank Natixis, information technology firm IBM and commodities trading group Trafigura have been working together for some time on a blockchain project for commodity trade finance in crude oil transactions in the United States. The end result is a distributed ledger platform, built on the Linux Foundation open-source Hyperledger Fabric, that is designed to modernize the largely paper-heavy g...Read More
Glencore's Katanga Mining Ltd will pay the Ontario Securities Commission (OSC) around $22.5 million as part of a settlement over the copper-cobalt producer's historical disclosures.The payments are C$1.5 million ($1.2 million) in costs along with a voluntary payment of C$28.5 million.The company, which operates the Kamoto Copper Company in the Democratic Republic of Congo (DRC), has also agreed to...Read More
Aqua Metals is nearing completion of the first phase of its two-stage capital improvement program, as well as implementing its plan to begin processing a portion of hard metallic lead into lead ingots. The California, United States-based company, whose AquaRefining technology is designed to recycle lead in a room-temperature, water-based process that emits significantly less pollution, expects to...Read More
Wang Chi-wei, a former vice president of Jiangxi Copper, has been officially arrested on corruption charges, the Supreme People's Procuratorate of the People's Republic of China said in a statement on Tuesday December 18.The arrest is based on an investigation carried out by the city of Nanchang's Supervisory Commission since October. Jiangxi Copper's 900,000 tpy Guixi smelter, the largest in Chin...Read More
The latest metal markets news and price moves to start the North American day on Tuesday December 18.Base metals on the London Metal Exchange were lower across the board during morning trading on Tuesday December 18, with a broad sell-off across the complex capping prices and another fresh inflow of over 57,000 tonnes of aluminium restricting price action.After more than 104,000 tonnes of aluminiu...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday December 18*Copper -$119.12 (-823.87yuan)Aluminium -$425.13 (-2,940.21 yuan) Zinc -$115.93 ( -801.79 yuan) Nickel $247.23 (1,709.87 yuan) *Fastmarkets calculates the physical arbitrage for import...Read More
Christian Keidel joined downstream aluminium product producer Aludium at the start of December in the role of metal management director, Fastmarkets MB understands.Prior to joining Aludium, which comprises three former Alcoa mills in Spain and France, Keidel had been in charge of strategic purchasing at Constellium since January 2012....Read More
Base metals on the London Metal Exchange were lower across the board during morning trading on Tuesday December 18, with a broad sell-off across the complex capping prices, while another fresh inflow of more than 57,000 tonnes of aluminium did little to spur price action. After more than 104,000 tonnes of aluminium inflows this week, including a net inflow of 57,700 tonnes today, the metal's three...Read More
The latest news and price moves to start the Asian day on Wednesday December 19.Base metal prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday December 18, with continued strength in the US dollar index limiting price action while lead futures gained more than 2% against a backdrop of multiyear lows in LME inventories. Read more in our live futures report.Here...Read More
Import prices for rebar and billet in the United Arab Emirates (UAE) were stable this week although demand was weak, sources told Fastmarkets MB on Tuesday December 18.Domestic rebarThe country's largest producer, Emirates Steel, was still offering rebar at 2,016 dirhams ($549) per tonne ex-works for December production while Conares Steel was offering rebar at 1,990 dirhams per tonne on the same...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 $530 per tonne cfr, to Saudi Arabia.India, export, hot-rolled coil, offered at $540-550 per tonne cf...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarOman, export, rebar, offered at $520-530 per tonne cfr, theoretical weight,...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet CIS, export, billet,...Read More
The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow remained weak on Monday December 17 due to seasonally low demand in the winter season. Since November 10, there have been production problems at the largest supplier into Russia, Kazakhstan's ArcelorMittal Temirtau, after a gas pipeline explosion at the plant. But the o...Read More
Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) were mostly stable over the past week due to limited demand near year-end as well as high stocks, sources said on Tuesday December 18. Demand was subdued because buyers expect prices to fall further and stock levels in the UAE are already high, sources told Fastmarkets MB. UAE Chinese offers for hot-rolled coil (HRC) into...Read More
Turkish scrap import prices continued to fall on Tuesday December 18, reflecting the slightly lower offers that mills received from Baltic Sea suppliers, sources said.Several sources reported at the start of this week suppliers in the Baltic Sea region were offering HMS 1&2 (80:20) at $300-305 per tonne cfr. But some offers for the same material were heard at $290-295 per tonne cfr on Tuesday.In r...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: iron oreIron oreVale, Global Ore, 170,000...Read More