The refined tin market, worth around $7.5 billion per year, could be in a position to benefit from a glut of technological applications over the next decade.But if it hopes to become a competitive commodity of choice, market participants have indicated that there is a need for price stability and steadiness in supply flows.According to leading industry specialists who attended the 7th annual Inter...Read More
Global miner Anglo American is optimistic about its copper production in Chile for years to come, it said on Tuesday November 27. The company has raised or tightened upward its output guidance figures for the period from now until 2020.Copper production will be around 660,000 tonnes in 2018, at the higher end of the previous estimate of 630,000-660,000 tonnes, Anglo said. In 2019, output is now ex...Read More
BHP has found what it claims is a potential new copper mineralised system near its existing Olympic Dam mine in Australia, it said in a release dated Tuesday November 27.Results from the initial drilling show that downhole mineralization intercepts with copper ore grades ranging from 0.5% to 6%. Gold, uranium and silver deposits were also abundant in the results, the company said, adding that it w...Read More
The latest news and price moves to start the Asian day on Wednesday November 28.Base metal prices on the London Metal Exchange were lower at the close of trading on Tuesday November 27, with the three-month tin contract hitting its lowest point since August 2016 due to strength in the dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:BHP has foun...Read More
Steelmakers in Colombia requested that their government conduct a safeguarding investigation into imports of rebar from all origins earlier this month.The request for an investigation was submitted to the ministry of trade, industry and tourism on November 1. Interested parties were required to send in relevant comments by November 23. The request included only imports from countries with which Co...Read More
The sentiment in the CIS export billet market continued to become more depressed on Tuesday November 27 amid growing pressure from China.The Chinese domestic billet price has dropped by 310 yuan ($45) per tonne since the beginning of the week, reaching 3,120 yuan ($450) per tonne ex-works on November 27.The drop in the domestic price made the export market more attractive to Chinese suppliers, wit...Read More
Import prices for flat steel products into South America fell last week after low offers - driven by persistent weakness in the Chinese flat steel market - continued to arrive at South American coasts.Fastmarkets MB's weekly import price assessment for hot-rolled coil in South America was $540-550 per tonne cfr on Friday November 23, compared with $550-560 per tonne cfr in the week prior. Market p...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil, offered at $520-530 per tonne cfr, to Saudi Arabia.India, export, hot-rolled coil, offered at $540 per tonne cf...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBillet China, export, billet, offered at $460...Read More
Domestic and import rebar prices in the United Arab Emirates (UAE) were mostly stable this week but weak demand pressured billet import prices lower.Buying was weak again because of high stocks and the expectation of more price falls, sources told Fastmarkets MB on Tuesday November 27.Domestic rebarThe country's largest producer, Emirates Steel, is still offering rebar at 2,016 dirhams ($549) per...Read More
Chrome ore and ferro-chrome markets were subdued in China in the week ended Friday November 23 ahead of December ferro-chrome tender announcements. UG2 prices hold in ChinaCharge chrome import prices hold in China, domestic alloy prices edge lowerAlloy prices hold in Japan, weaken in South KoreaAlloy prices continue lower in Europe Chrome ore and ferro-chrome prices were largely stable in China o...Read More
Fastmarkets MB proposes to launch an assessment of chrome ore inventories at the main Chinese ports of Tianjin, Qinzhou, Lianyungang and Shanghai to monitor the changes to stock flows of this raw material and help market participants better understand supply and demand in the physical market. The rapid accumulation in Chinese chrome ore inventory this year put pressure on chrome prices as well as...Read More
A new round of environmental inspections started on Sunday November 25 in Jiangxi province, a major ammonium paratungstate production hub in China, and is expected to last for 24 days, multiple well-informed sources told Fastmarkets MB. The inspections will track the progress of improvements made by local industrial producers following the previous environmental inspection in the second quarter of...Read More
Turkish steel producers remained out of deep-sea scrap market on Tuesday November 27 because of uncertainty about Asian markets and sluggish demand for finished products, sources said.After booking three deep-sea cargoes at lower prices at the end of last week, mills have not returned to the scrap market so far this week.The most recent transactions put the HMS 1&2 (80:20) price at $320 per tonne...Read More
Shipments of steel products and pig iron from Ukraine have not yet been affected by the country imposing restrictions under martial law, sources told Fastmarkets on Tuesday November 27."For the moment, I do not see any problems for civil vessels from Black Sea ports, but it is only the first day after the announcement of the martial law decision," one trader from Ukraine said on Tuesday. "Those mo...Read More
Seaborne iron ore prices were rangebound on Tuesday November 27 after a rapid drop below $65 per-tonne cfr on Monday.MB 62% Fe Iron Ore Index: $65.19 per tonne cfr Qingdao, up $0.94 per tonne.MB 62% Fe Pilbara Blend Fines Index: $64.46 per tonne cfr Qingdao, up $0.94 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $69.02 per tonne cfr Qingdao, up $0.05 per tonne.MB 58% Fe Premium Index: $57.06 per...Read More
The share of basic oxygen furnace (BOF)-based steel production in Asia may increase from 2019 onward, even as more integrated mills are commissioned in the region. There are at least six new BOF-based steelmaking projects in China and Southeast Asia which are either in development stages or will fire their blast furnaces between 2018 and 2023, according to World Steel Association head of technolog...Read More
Seaborne coking coal prices softened further on Tuesday November 27, with participants staying on the sidelines amid a weakening steel market in China."The billet price in China [tumbled] during the day. It has fallen by 800-900 yuan ($115-130) per tonne since the first [working day] of November. The situation doesn't bode well for coking coal prices," a Chinese trading source said. Fastmarkets' d...Read More
China's ferrous futures trended downward during morning trading on Tuesday November 27 with most contracts peaking the night earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,576 yuan ($515) per tonne, down 53 yuan per tonneJanuary hot-rolled coil: 3,406 yuan per tonne, down 44 yuan per tonneDalian Commodity Exchange January iron ore: 466 yuan per tonne, d...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 27.Falling 2.4% over the morning, the three-month zinc price found a low of $2,422 per tonne over the morning, its lowest point since September 19. While zinc volumes traded so far this morning hit 5,361 lots as of 10:16am London time. Tightness in the metal's forward curve, prompted by...Read More