Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday December 6. Base metals prices, bar those for zinc, on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Thursday, with lingering concerns surrounding the trade tensions between the United States and China causing prices to soften.Check Fastmarkets MB's...Read More
The latest news and price moves to start the Asian day on Friday December 7.Base metal prices on the London Metal Exchange were collectively lower at the close of trading on Thursday December 6, with downward pressure emerging across global equity indices in addition to a sharp downturn in oil futures, which trickled through to metals. Read more in our live futures.Here are how prices looked...Read More
Turkish billet prices have continued to weaken in line with the falling scrap and rebar prices, the downturn in the Asian markets and the weak demand for the material, sources said on Thursday December 6.Suppliers in the Commonwealth of Independent States (CIS) region have lowered their offers to $445-455 per tonne cfr from $460-465 per tonne last week. Yet demand was still limited and no tra...Read More
Turkey's long steel export prices have continued to weaken due to a lack of demand and a downturn in Asian markets, sources said on Thursday December 6.Only a few rebar cargoes were heard selling to Europe at $475-480 per tonne fob on an actual weight basis."The demand is still very weak. I only heard a small cargo was...Read More
The Turkish domestic long-steel markets have continued to struggle with limited demand over the past week, sources said on Thursday December 6.Buyers expected prices to go down further and are holding back from purchases, market participants said. While the winter conditions were also said to be keeping buyers out of the market, Fastmarkets was...Read More
Steel billet import and domestic rebar prices in Egypt have been stable over the past week amid poor demand, sources said on Thursday December 6.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $450-460 per tonne cfr on Thursday, unchanged week on week.Billet producers in the Commonwealth of Independent States (CIS) were offering material at $450-460 per tonne cfr, but...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price assessments, please follow the links below:China- APT, fob China- Ferro-tungsten, fob China Europe- APT, cif Rotterdam - Ferro-tungsten, in-warehouse...Read More
The European ferro-molybdenum market has climbed almost 2.5% in trading by the midweek pricing session on Wednesday December 5, tracking a previous increase in the oxide market, with alloy prices now back to a level last seen on September 14. The ferro-molybdenum, basis 65%, in-warehouse Rotterdam price has risen to $29.50-29.70 per kg, from $28.80-29 per kg on November 30. Around 65 tonnes o...Read More
Lower lithium prices than a year ago have led to differing price expectations between producers and consumers of lithium compounds in their negotiations for 2019 supply contracts. In light of lower spot prices in China, lithium consumers are seeking to lock in lower contract prices for 2019 by referencing the Chinese spot market price in their deals. But lithium producers are trying to keep prices...Read More
Chinese lithium producer Tianqi Lithium has purchased 23.77% of A shares in Sociedad Quimica y Minera (SQM), which were previously owned by Canada's Nutrien. A total of 62,556,568 A shares in SQM were sold for $4.066 billion at a minimum price of $65 per share, the Chilean Stock Exchange said in the Chilean morning of Monday December 3. All formalities for the completion of this deal will be final...Read More
Vale will buy Brazilian privately-owned Ferrous Resources Ltd as part of its "bolt-on acquisitions" strategy, it said on Thursday December 6. The world's largest iron ore producer will buy the small miner for $550 million, the company said. Ferrous Resources operates iron ore mines close to Vale's own assets in the southeastern state of Minas Gerais, with sales volumes of 3 million tonnes in 2017...Read More
Seaborne iron ore prices slipped on Thursday December 6, with futures and swaps markets weakening, while buyers remained cautious over big tonnages.MB 62% Fe Iron Ore Index: $66.59 per tonne cfr Qingdao, down $0.79 per tonne.MB 62% Fe Pilbara Blend Fines Index: $65.86 per tonne cfr Qingdao, down $0.79 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $70.13 per tonne cfr Qingdao, down $1.08 per tonn...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. ...Read More
Seaborne coking coal spot market quietened down on Thursday December 6 amid an absence of bids."The bid that had been increasing in the past one-and-a-half weeks - from $205 per tonne fob Australia to $235 per tonne fob Australia - is now gone following the emergence of a counter offer," a Chinese trading source said.The source was referring to the bid made for a branded January-loading shipment o...Read More
Iron ore producer Vale will use a 65% Fe iron ore index to price its pellets next year, moving away from using a 62% Fe iron ore index as the base price for such cargoes, executive director Peter Poppinga said this week.Speaking at the company's investor day at the New York Stock Exchange on Tuesday December 4, Poppinga said the decision made sense as the 65% Fe iron ore and pellet [pric...Read More
China's ferrous futures mostly weakened during morning trading on Thursday December 6, with the exception of the coking coal contract, which inched up.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,395 yuan ($495) per tonne, down 23 yuan per tonneMay hot-rolled coil: 3,319 yuan per tonne, down 4 yuan per tonneDalian Commodity Exchange May iron ore: 470.50 yuan per...Read More
China's domestic hot-rolled coil prices were mixed on Thursday December 6 due to differing levels of demand between the major markets, while a shipment that was sold at an unexpectedly low range weighed on the export segment.DomesticEastern China (Shanghai): 3,750-3,780 yuan ($547-551) per tonne, up 10-20 yuan per tonneNorthern China (Tianjin): 3,610-3,620 yuan per tonne, down 20-30 yuan per tonne...Read More
China's domestic and export prices for rebar fell further on Thursday December 6, with a pessimistic outlook for supply and demand emerging in the market.Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($566-571) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,560-3,590 yuan per tonne, down 30-40 yuan per tonneRebar futures tumbled during the day, which weighed on spot prices. Buy...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets MB.Unless otherwise stated, all prices are per lb on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price quotation, click here.To see all Fastmarkets pricing methodology and specification documents go to: https://www.metalbulletin.com/prices/pricing-methodology.ht...Read More
Base metals prices, bar those for zinc, on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Thursday December 6, with lingering concerns surrounding the trade tensions between the United States and China causing prices to soften.Despite positive trade headlines on Wednesday, an uptick in tensions overnight and lingering fears that the ongoing trade war between the t...Read More