Base metal prices on the London Metal Exchange rebounded in morning trading on Wednesday November 28 after having suffered heavy losses at the start of the week.The LME's three-month copper contract rallied up by $33.5 per tonne to $6,155 per tonne; this morning news broke that Indonesian copper smelter Gresik will be out of the market until December.Aluminium prices, meanwhile, have failed t...Read More
The latest news and price moves to start the Asian day on Thursday November 29.Base metal prices were resurgent on the London Metal Exchange on Wednesday November 28, with prices for the entire complex closing higher compared with the previous day. Read more in our live futures report.Here are how prices looked at the close of trading:Turkish long steel producer Ko?? Metalurji intends to halt...Read More
Long steel demand in Brazil fell year on year in October but growth expectations remain in place for this year and 2019, Gerdau chief executive officer Gustavo Werneck said."We had already envisioned some slowdown during the fourth quarter as seasonal factors kick in," Werneck told Fastmarkets on the sidelines of a partnership launching event on Wednesday November 28. "What is important is that 20...Read More
Turkish long steel producer Ko?? Metalurji intends to halt steel production to allow maintenance work during the first month of 2019, a mill source told Fastmarkets on Wednesday November 28.Production operations at Ko?? Metalurji will stop from Tuesday January 1 until Thursday January 31. The mill may return to the market later than the end of January, however, depending on trading conditions."We...Read More
Steelmakers in Ukraine were continuing operations and shipments as normal on Wednesday November 28, despite the country imposing martial law at 9am local time after the latest military clash with Russia.ArcelorMittal Kryvyi Rih and Metinvest were the steelmakers most likely to be affected by the dispute, which centered on the seizure by Russia of Ukrainian ships in the Kerch Strait, which links th...Read More
Prices for hollow steel sections in Northern Europe moved down this week following falls in feedstock prices, market participants told Fastmarkets MB.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?635-650 ($718-735) per tonne delivered on Thursday November 28, down from ?,?640-660 per tonne delivered on November 21.Th...Read More
Iranian exporters of semi-finished steel products, billet in particular, have come under pressure from the increasing presence of Chinese suppliers in the global market.The domestic billet price in northern China has fallen by 380 yuan per tonne since the beginning of the week, reaching 3,050 yuan ($439) per tonne ex-works on November 28.The drop in the domestic price made the export market more a...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday November 28:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.10...Read More
Key data from the Wednesday November 28 pricing session in Europe.Key drivers European suppliers appear to have been successful in holding up prices despite earlier downward pressure from some Russian exports into Europe. The move follows a downward trend in alloy prices that started on September 12, when the market was assessed at $5.80-6.05 per kg, and stopped around the start of November....Read More
A plunge in silico-manganese futures prices on the Zhengzhou Commodity Exchange (ZCE) at the start of this week was driven by weakness in China's steel market, market participants told Fastmarkets. On Monday November 26, trading was suspended for the ZCE's most-traded January silico-manganese futures contract after the price of the contract plunged by 7.1% from the previous trading day's close. Th...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 28.Base metals on the Shanghai Futures Exchange continued to be pressured by a strong dollar during Asian morning trading on Wednesday, with limited price movements recorded across most of the complex as a result. Check Fastmarkets MB's live futures report here.The looming b...Read More
Vanadium trade log including business, bids and offers reported to Fastmarkets.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Friday November 23Ferro-vanadium - Prices indicated a...Read More
Physical iron ore markets recorded mixed performance on Wednesday November 28 amid a rebound in futures and swaps trading yet continued bearishness among participants. MB 62% Fe Iron Ore Index: $66.35 per tonne cfr Qingdao, up $1.16 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.62 per tonne cfr Qingdao, up $1.16 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $69.64 per tonne cfr Qingdao, u...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 oreBHP, Beijing Iron Ore Trading...Read More
Supply concerns have emerged in the seaborne coking coal market after a major rail line in Australia was shut down on Wednesday November 28.Bushfires across the state of Queensland, Australia's coal-producing hub, led to Aurizon suspend services on the Blackwater rail line, a spokesperson for the rail freight operator told Fastmarkets during the day."Aurizon Network has advised operators in the Bl...Read More
China's ferrous futures rose across the board during morning trading on Wednesday November 28, reversing the trend seen in the first two days of this week.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,622 yuan ($521) per tonne, up 43 yuan per tonneJanuary hot-rolled coil: 3,444 yuan per tonne, up 37 yuan per tonneDalian Commodity Exchange January iron ore: 472...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday November 28*Copper -$165.96 (-1,156.79 yuan) Aluminium -$425.57 (-2966.32 yuan) Zinc -$98.06 (-683.48 yuan) Nickel $309.58 (21,57.84 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME...Read More
China's domestic rebar prices bounced back on Wednesday November 28 amid gains in the futures market, though export prices continued to spiral downward.Domestic Eastern China (Shanghai): 3,800-3,830 yuan ($547-551) per tonne, up 50-70 yuan per tonneNorthern China (Beijing): 3,490-3,520 yuan per tonne, up 20 yuan per tonneRebar futures picked up more strength during the day, which encouraged seller...Read More
China's hot-rolled coil prices were mixed on Wednesday November 28, with those in the east of the country flat but those in the north lower.DomesticEastern China (Shanghai): 3,570-3,590 yuan ($514-516) per tonne, unchangedNorthern China (Tianjin): 3,480-3,500 yuan per tonne, down 30-40 yuan per tonneSellers in eastern China stopped kept their prices stable on the recovery in the futures...Read More
The following Fastmarkets minor metals prices changed on Wednesday November 28:Minor metalsAntimony MB Chinese free market MMTA standard grade II, yuan/tonne: 49,500-50,000 yuan per tonne from 50,000-50,500 yuanCobalt MB free market high...Read More