Codelco's copper production and earnings fell in the first nine months of 2018, the Chilean state-owned copper producer said.Codelco produced 1.3 million tonnes of refined copper in the first nine months of the year, a drop of 2% from 1.32 million tonnes in the first nine months of 2017, it said.Including output from its stake in Anglo American Sur and El Abra, it produced 421,000 tonnes of refine...Read More
The latest metal markets news and price moves to start the North American day on Friday November 30.Most base metals prices ticked higher in morning trading on the London Metal Exchange on Friday November 30, with lead the best performer of the morning.Lead led the complex gains, with the three-month...Read More
Most base metals prices ticked higher in morning trading on the London Metal Exchange on Friday November 30, with lead the best performer of the morning. Lead led the complex gains, with the three-month price rising by 1.65% from the previous day's close to $1,963 per tonne. LME lead stocks have consistently declined since September and was recently at 105,200 tonnes, a fresh 2018-low. Nickel and...Read More
Brazil's steel slab export price fell this past week due to continued weakness in flat steel pricing in the United States and Europe.Fastmarkets MB's weekly assessment of Brazil's steel slab export price was at $435-495 per tonne fob on Friday November 30, down from $450-505 per tonne cfr one week earlier.Semi-finished material prices offered to the United States also declined...Read More
Demand for steel in the Middle East is expected to increase marginally over the next five years, mainly because of big construction projects, professionals from across the sector told Fastmarkets in a survey before the 22nd Middle East Iron & Steel Conference to be held in Dubai this December.Infrastructure construction is going on in the United Arab Emirates related to the Dubai Expo 2020 exhibit...Read More
Domestic prices for coated-steel coil products in Turkey have increased slightly in the week ended Friday November 30 after producers ceased offering discounts, with local Turkish demand remaining limited.The local Turkish market has been slow for a long time. The initial reason was the weakening of the Turkish lira, which fell to a low of 10TRY to $1.44 on August 13, before staging a steady recov...Read More
Domestic and import prices for steel coil products in Turkey have shown different trends this week with demand being affected by a variety of factors, sources told Fastmarkets on Friday November 30."I believe prices have reached bottom. We may see slight rises or falls in the next few months, but no sharp falls are expected," a source said.Fastmarkets' weekly price assessment for Turkish domestic...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, HDG, PPGIHot-rolled coilTurkey, domestic, hot-rolled coil, offered at $525-540 per tonne ex-works, late December-early January production.Turkey, domestic, hot-r...Read More
Import prices for steel billet in Southeast Asia fell further on Friday November 30 amid downward pressure from low-priced Chinese materials, although trading remained at a standstill with buyers and sellers deterred by the drastic price drops.Additionally, the Philippines - a major billet importer - was away from the market due to a holiday on Friday.Fastmarkets' daily price assessment for billet...Read More
China hot-rolled coil exporters continued to drop their offer prices, forced by overseas buyers who have been refraining from buying on bearish sentiment.DomesticEastern China (Shanghai): 3,590-3,610 yuan ($517-520) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,470-3,480 yuan per tonne, down 20 yuan per tonneAlthough prices in eastern China picked up a bit on Friday as some downs...Read More
China's rebar prices dropped in both the domestic and the export markets on Friday November 30, amid low trading activity. Domestic Eastern China (Shanghai): 3,800-3,830 yuan ($547-551) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,520-3,550 yuan per tonne, down 10 yuan per tonneLow rebar futures prices led to little buying interest in the domestic market, pushing down prices. Stock...Read More
South African manganese miner Assmang has declared force majeure on manganese ore shipments from the port of Saldanha, Fastmarkets heard on Friday November 30.Assmang has now joined fellow miner United Manganese of Kalahari (UMK) in making the declaration after South African state transport...Read More
Key data for the pricing session for the week ended Friday November 30. China The domestic ferro-chrome spot price stabilized on thin trading activity and sellers' unwillingness to cut their price further because current levels have been close to their production costs.The imported charge chrome market was lackluster this week while the market digested the consequences of a...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday November 30:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.10-12.30 per lb from $12.00-12.10Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $28.80-29.00 per kg from $28.20-28.65Ferro-molybdenum US 65-70% Mo, $/Ib: $13.10-13.40 per Ib from $12.90-13.30Ferro-tungsten basis 75% W...Read More
Fastmarkets is decreasing the minimum tonnage for its benchmark in-warehouse Rotterdam ferro-tungsten price assessment following a month-long consultation. Fastmarkets' minimum lot size for its in-warehouse Rotterdam ferro-tungsten price assessment is decreasing to 3 tonnes from Wednesday December 5, from 5 tonnes currently. There will be no changes to the publishing time and dates of the assessme...Read More
The pig iron market in the United States was silent in the week ending Friday November 30 because buyers and sells were waiting for scrap price indications for December. Fastmarkets' price assessment for US imports of pig iron was $378-385 per tonne cfr on Friday, unchanged week on week. "The [US] market is very silent with no discussions or bookings this week; hope next week it will be activ...Read More
Brazilian pig iron exporters kept offers unchanged for the week ended Friday November 30 because they have closed their order books for this year. Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region was $350-355 per tonne fob on Friday November 30, widening downward from $355 per tonne fob the prior week.One deal for 30,000 tonnes of pig iron for Jan...Read More
The price of shredded ferrous scrap imported into India fell by almost $10 per tonne this week due to limited trading activity, sources told Fastmarkets on Friday November 30.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $340.75 per tonne cfr Nhava Sheva on November 30. This was down by $9.78 per tonne week on week from $350.75 per tonne cfr on November 23.De...Read More
Turkish steel mills ended the week with no deep-sea scrap bookings amid poor demand for finished products in the domestic and export markets as well as concerns over Asian steel markets, sources said on Friday November 30.After booking three deep-sea cargoes from the United States and the United Kingdom at the end of last week, steel mills in Turkey stepped out of the deep-sea scrap markets.Those...Read More
Prices for light iron scrap in the United Kingdom went down this week by ?10 ($13) per tonne because of softer export prices, sources told Fastmarkets on Friday November 30.The move followed a drop in European export prices to the major destination of Turkey, whose steel mills have been battling tough competition in the Asian markets, as well as a domestic slowdown.Prices in other key European ex...Read More