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
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
Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) have remained stable over the past week due to limited demand near year-end, sources said on Tuesday December 11. Demand was subdued because buyers do not want to build up inventories before finalizing their year-end accounting procedures, they told Fastmarkets. UAE Chinese offers for hot-rolled coil (HRC) into the UAE wer...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
Comex copper prices hit a one-week high in the US morning on Tuesday December 11 with the continued trade actions between China and the United States guiding the market. The copper price for March settlement on the Comex division of the New York Mercantile Exchange jumped 5.15 cents to $2.7715 per lb today. Earlier, the contract traded at $2.7805, the highest since December 4. Trade tensions betwe...Read More
TradeCloud is set to give its users the opportunity to report business concluded on the platform to Fastmarkets automatically, according to the former's chief executive officer.Launched in October 2017, TradeCloud is a digital metals trading platform where producers, consumers and traders can meet to exchange information, negotiate contracts and conclude business.Offers can be sent to multiple mar...Read More
Fastmarkets has amended the data collection process for its US and European aluminium premiums assessments to include deals done on and reported by trading platform TradeCloud Services Pte Ltd. Fastmarkets' trained price reporters will continue to collect data points in the forms of transactions, bids, offers, assessments and deals heard via telephone calls, emails, face-to-face meetings and onlin...Read More
The latest metal markets news and price moves to start the North American day on Tuesday December 11.Base metals trading on the London Metal Exchange was broadly higher during morning trading.Lead was the best performer this morning, up 1.1% to $1,972 per tonne. Only aluminium and tin posted...Read More
China's exports of unwrought aluminium and aluminium products increased by 41% in November compared with the same month of last year, according to preliminary Chinese customs data.Exports also rose by 11.2% from a month earlier.China exported 536,000 tonnes of unwrought aluminium and aluminium products in November, a 156,000-tonne increase from the same month of 2017 and 54,000 tonnes more than in...Read More
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