The latest news and price moves to start the Asian day on Wednesday December 12.Base metal prices rose on the London Metal Exchange by the close on Tuesday December 11, with copper surging after market sentiment was boosted by positive news of easing tensions between China and the United States. Read more in our live futures report.Here are how prices looked at the close of trading:Saudi Arabia ha...Read More
Brazilian foreign trade chamber Camex has extended a suspension of anti-dumping duties on imports of hot-rolled coil from China and Russia.The existing duties will remain suspended until January 19, 2020, a decision published in the country's official gazette on Monday December 10 stated. The suspension was previously set to expire on January 19, 2019.The...Read More
Brazilian imports of flat steel products dropped year on year in November, while long steel shipments increased in the same period, according to figures from the country's foreign trade ministry, MDIC. Imports of flat steel fell by 8.78% year on year in November to 93,615 tonnes, compared with 102,626 tonnes in the corresponding month of 2017. China was the largest provider of flat steel to Brazil...Read More
Import prices for rebar and billet in the United Arab Emirates (UAE) went down this week due to the weak demand caused by high stocks levels, sources told Fastmarkets on Tuesday December 11.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...Read More
The European Commission's safeguard import quotas for steel products must be improved and made permanent if the European steel industry is to remain competitive, ArcelorMittal Europe chief executive officer Aditya Mittal said on Tuesday December 11.The EC's import quotas were introduced to combat the expected influx of metal following the imposition of section 232 import tariffs on steel and alumi...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
UG2 chrome ore suppliers are cutting offer prices to attract year-end business in China. UG2 prices drop in ChinaChinese domestic ferro-chrome prices slide, import prices steadyAlloy prices unchanged in Japan, South KoreaAlloy prices tick up in EuropeAlloy prices flat in the US UG2 chrome ore prices continued to soften in China in the week ended Friday December 7 due to suppliers cutting offer pri...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday December 11.Base metals prices on the Shanghai Futures Exchange were largely up during Asian morning trading on Tuesday, with positive trade headlines sparking a bout of short covering across the complex. Check Fastmarkets MB's live futures report here.The Chinese ferro-silicon market...Read More
The Chinese ferro-silicon market climbed further on renewed demand in the week ended Friday December 7, while European prices have been hemmed in while suppliers and consumers negotiate long-term delivery settlements. China market gets boost from demand Tight supply underpins market strength European prices stabilize losses US ferro-silicon prices flat amid inactivityThe recent increase in domesti...Read More
Steel mills in China have lowered their bids for alloys, while ores resisted some downward pressure and some buyers secured deals at lower prices in the week ending Friday December 7. Lower and higher grade ore prices rangebound in cif marketLow grade fob index increases on falling freight rateAlloy price in China fallsFerro-manganese into Europe soarsUS alloys unmoved in quiet spot market The Chi...Read More
The European ammonium paratungstate (APT) price range narrowed downward at the end of last week and the black concentrate price in China fell slightly. APT fob price in China rose due to lack of supply ; APT price in Europe fell on low buying appetite Black concentrates price softened Ferro-tungsten price higher in Europe but Chinese prices unchangedFastmarkets MB assessed the fob China APT price,...Read More
Brazilian miner Vale closed a deal with investment fund Hankoe FIP to acquire New Steel, a company focused on developing iron ore processing technologies.The purchase price is $500 million, and the transaction is expected to be concluded in 2019, as it is subject to approval of the Brazilian competition regulator, Cade, and other conditions."The New Steel...Read More
Turkish steel mills remained out of deep-sea scrap markets on Tuesday December 11 because of continued uncertainty in the Chinese steel market, sources told Fastmarkets MB.Market pessimism weighed on China's rebar prices in both the domestic and the export market again on Tuesday December 11.Buyers kept procurement rates low amid bad weather in China, with work suspended at many construction sites...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 oreSpot market, bilateral sale,...Read More
Physical iron ore prices stayed rangebound on Tuesday December 11 while steel markets weakened further. MB 62% Fe Iron Ore Index: $65.97 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.24 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $69.68 per tonne cfr Qingdao, down $0.18 per tonne. MB 58% Fe Premium Index: $59.67 per ton...Read More
The price gap in the seaborne coking coal market between fob Australia and cfr China segments continues to leave market participants in a daze."There are more than 50 vessels waiting at the Dalrymple Bay Coal Terminal (DBCT) as of today. All four berths at DBCT were closed from the 8th-10th of December due to fears of cyclone. It has since reopened," an Indian end-user source said.He added that th...Read More
China's ferrous futures moved in different directions during morning trading on Tuesday December 11, with steel and coke futures prices moving up while that of coking coal fell.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,306 yuan ($478.70) per tonne, up 17 yuan per tonneMay hot-rolled coil: 3,281 yuan per tonne, up 23 yuan per tonneDalian Commodity Exc...Read More
The latest news and price moves to start the Asian day on Tuesday December 11.Base metal prices started the week with a step downward on the London Metal Exchange on Monday December 10. Read more in our live futures report.Here are how prices looked at the close of trading:A drop in demand for alumina and supply from new projects coming on stream in 2019 will put Chinese alumina prices under...Read More
Base metals trading on the London Metal Exchange were broadly higher during morning trading on Tuesday December 11. Lead was the best performer in the morning, up 1.1% to $1,972 per tonne. Only aluminium and tin posted slight losses, falling to $1,942 and $18,920 per tonne respectively. Reports of US and China trade talks continuing despite the detention of China technology company Huawei's chief...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday December 11* Copper -$96.63 (-668.44 yuan) Aluminium -$440.06 (-3,043.98 yuan) Zinc -$107.90 (-746.36 yuan) Nickel $392.60 (2,715.73 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More