The latest metal markets news and price moves to start the North American day on Wednesday November 28. Base metal prices on the London Metal Exchange rebounded in morning trading on Wednesday after having suffered heavy losses at the start of the week. Aluminium prices, meanwhile, have failed to be spurred by the news...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
Philipp Schl? 1/4 ter has become chief executive officer of Trimet Aluminium, the company said on Monday November 26. "Philipp Schl? 1/4 ter will be moving from the supervisory board to the executive management of the company and become the CEO of Trimet Aluminium SE," chairman Thomas Ludwig...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
Base metal prices were resurgent on the London Metal Exchange on Wednesday November 28, with prices for the entire complex closing higher than their Tuesday levels, with the exception of tin.Tin's three-month price continued to fall over afternoon trading, closing at $18,240 per tonne with just 550 lots traded.Copper prices were buoyed by disruptions to cathode supplies to smelters operated by Eur...Read More
The price of copper on the Comex exchange in the United States rebounded in morning trading on Wednesday November 28 ahead of the upcoming meeting in Argentina of leaders from the G20 group of nations.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose by 4.15 cents per lb to $2.7675 per lb on Wednesday.Despite recent remarks from US President Donal...Read More
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
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The Turkish steel producers have continued to hold back from the deep-sea scrap markets and were not expected to resume purchasing activity any time soon, sources said on Wednesday November 28.The mills in the country booked three deep-sea cargoes at the end of last week, following a downturn in prices. But this activity did not last long because of concerns about price falls in the Asian steel ma...Read More
The price for rebar produced and delivered in Southern Europe was flat on Wednesday November 28, with consumers continuing to snub higher offers from producers for material with first-quarter delivery dates.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?530-540 ($600-611) per tonne delivered on Wednesday.While some producers had hoped for a big purchasing r...Read More
Philipp Schl? 1/4 ter has become chief executive officer of Trimet Aluminium, the company said on Monday November 26. "Philipp Schl? 1/4 ter will be moving from the supervisory board to the executive management of the company and become the CEO of Trimet Aluminium SE," chairman Thomas Ludwig...Read More
Zinc premiums made gains in the Taiwanese and Indian markets on Tuesday November 27 with residual supply not sufficient to appease demand. Lead markets are focused on annual contracts, with US spot market activity diminished for this reason. Zinc premiums rise in Taiwan and India Annual zinc premiums start to settle lower in Europe Lead premiums flat on spot as market eyes annual cont...Read More
The price of copper on the Comex exchange in the United States rebounded in morning trading on Wednesday November 28 ahead of the upcoming meeting in Argentina of leaders from the G20 group of nations.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose by 4.15 cents per lb to $2.7675 per lb on Wednesday.Despite recent remarks from US President Donal...Read More
The latest metal markets news and price moves to start the North American day on Wednesday November 28. Base metal prices on the London Metal Exchange rebounded in morning trading on Wednesday after having suffered heavy losses at the start of the week. Aluminium prices, meanwhile, have failed to be spurred by the news...Read More
China Hongqiao Group has started to cut its aluminium production as part of local government winter curtailment orders, according to a document released by the Binzhou government earlier this week. The winter cuts document published on the City of Binzhou official website lists five closures of Hongqiao's smelters, which have aluminium capacity of nearly 6.46 million tonnes per year. Based on the...Read More
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