The launch of a high-grade iron ore derivative by the Singapore Exchange last week represents a "leap forward for the [ferrous] industry, particularly those that are exposed to the high-grade product," according to Andrew Glass, head of iron ore trading at Anglo American.SGX launched the world's first high-grade iron ore derivative contract, settled against the daily MB 65% Fe Iron Ore Index publi...Read More
Trading in the seaborne coking coal spot market picked up on Wednesday December 12 after more firm offers and bids emerged. A January-laycan cargo of unbranded materials was transacted at $219 per tonne fob Australia during a day, Fastmarkets has heard.In China, a top Australian brand with late December laycan was offered at $212 per tonne cfr China during the day, market sources said.However, no...Read More
China's ferrous futures fell during morning trading on Wednesday December 12, while sentiment remains largely bearish in both the steel and the coke physical markets.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,341 yuan ($483.90) per tonne, down 16 yuan per tonneMay hot-rolled coil: 3,329 yuan per tonne, down 1 yuan per tonneDalian Commodity Exchange&nb...Read More
Steady demand for ferrous scrap in Asia has failed to stop the ongoing price slides in the region.There have been bookings of bulk cargoes in Vietnam, South Korea and Taiwan this week. However, prices are lower than previous weeks.A major South Korean steel mill bought at least 45,000 tonnes of heavy melting scrap (HMS) 1 at a base price of $325 per tonne cfr from the United States.A major Vietnam...Read More
The latest news and price moves to start the Asian day on Thursday December 13.Base metal prices on the London Metal Exchange had mostly drifted lower by the close on Wednesday December 12 but were confined to tight ranges throughout what was an unexceptional trading day. Read more in our live futures report.Here are how prices looked at the close of trading:A historic backwardation in zinc forwar...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday December 12* Copper -$129.85 (-896.92 yuan) Aluminium -$439.71 (-3,037.19 yuan) Zinc -$113.3 (-782.6 yuan) Nickel $381.09 (2,632.27 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Wednesday December 12, with average gains of 0.3%. This after the complex climbed by an average of 0.4% on Tuesday, which followed Monday's test of support levels - that held.This morning's gains were fairly tightly bunched with prices rising between 0.2% for aluminium and 0.6% for nickel. The e...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday December 12.Base metal prices, barring those for aluminium, on the Shanghai Futures Exchange were up across the board during Asian morning trading on Wednesday December 12, with the complex continuing to find support from positive trade headlines. Check Fastmarkets MB's live futures...Read More
The latest metal markets news and price moves to start the North American day on Wednesday December 12.London Metal Exchange base metal prices have made a typically tentative start to trading on Wednesday December 12, with copper, aluminium and zinc all trading down against yesterday's close. Here is how the LME base metals complex looked at 11.40am London...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday December 12:Aluminium scrapLoose old rolled cuttings: ?710-730 per tonne from ?730-750Commercial cast: ?790-830 per tonne from ?800-840Cast wheels:...Read More
It was another firmer start for the three-month base metals prices on the London Metal Exchange this morning, Thursday December 13, with all the metals in positive territory and showing average gains of 0.6%. More positive steps from China on trade seems to be easing some of the concerns in the market, although traders are probably nervous that any positivity could be unwound with one presidential...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EST. Consensus was a drop to 225,000 from an upwardly revised 233,000 last week. Actual was 206,000.European Central Bank maintained its overnight lending rate. It will discontinue bond...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 11.Please click...Read More
Base metal prices rose on the London Metal Exchange by the close on Tuesday December 11, with copper acting as the best performer among the complex.Specifically, the three-month copper price surged by 1.3% to close at $2,590 per tonne. "LME copper continues to run rather positive micro-dynamics. Total LME stocks continue to see drawdowns, with net holdings edging to a fresh 2018 low of...Read More
Brazil's Companhia Brasileira de Alum?-nio (CBA) will invest 30 million Reais ($7.7 million) to increase its aluminium billet production capacity, the company's primary operations director Luis Jorge Nunes told Fastmarkets MB on Monday December 10.The expansion will change some of the currently halted aluminium-plate furnaces into aluminium billet production units. The company's production capacit...Read More
Chinese exporters of ferro-vanadium and vanadium pentoxide (V2O5) have significantly cut offer prices to stir up some buying interest overseas, while European traders continued to take profits, applying further pressure on ferro-vanadium prices. Chinese exporters slash offers to promote buying interest Europe FeV market continues to suffer from profit-taking Europe V2O5 market plummets following F...Read More
China's largest steel mill, Hebei Steel, has cut its monthly purchase price for silico-manganese, reversing the rise seen in last month's tender. The mill has offered to buy silico-manganese at 8,950 yuan ($1,296.81) per tonne for December delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China. The latest tender is about 150 yuan l...Read More
Chinese exporters of ferro-vanadium and vanadium pentoxide (V2O5) have significantly cut offer prices to stir up some buying interest overseas, while European traders continued to take profits, applying further pressure on ferro-vanadium prices. Chinese exporters slash offers to promote buying interest Europe FeV market continues to suffer from profit-taking Europe V2O5 market plummets following F...Read More
Aurubis Executive Board chairman J? 1/4 rgen Schachler will leave the company on June 30 next year, the company said in a release today.The company has begun looking for a successor but has yet to find one.Aurubis is Europe's largest copper smelting company, producing over 1.1 million tonnes per year of refined copper at...Read More
Thin spot activity in the European antimony market pressured prices lower still in the region while an improvement in Chinese sentiment enabled prices there to stabilize. Chinese market steadyFastmarkets MB assessed the price of MMTA standard grade-II antimony, delivered duty-paid, in China at 49,500-50,000 yuan per tonne on Wednesday December 5, unchanged from the previous week. Sellers proved re...Read More