Domestic rebar producers in the United Arab Emirates (UAE) have announced new prices for December production, although imported rebar prices remained stable over the past week.Steel billet prices, meanwhile, were unchanged because the rebar producers in the UAE have enough stock to last for more than one month, sources told Fastmarkets on Tuesday November 20.Domestic rebarThe country's biggest pro...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE, domestic (Emirates Steel), rebar, offered at 2,016 dirhams ($549) per tonne ex-works, December...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 20.Base metals on the London Metal Exchange were predominantly lower during morning trading, with most metals trading in narrow ranges while global trade tensions and depleting LME stocks deter investors. Here is how the LME base metals complex looked at 11.45am London time:For a snapshot of exchange...Read More
Steel traders in Asia have been feverishly short-selling their cargoes in recent weeks due to the bearish sentiment in the Asian market, with back-to-back offers for steel products often accompanied by short-selling offers at a wide discount to mill cargoes.These discounts can reach up to $15 per tonne, which indicate the additional price falls that traders expect when short-selling cargoes. Buyer...Read More
China's hot-rolled coil prices fell on Tuesday November 20 amid tumbles across financial markets.DomesticEastern China (Shanghai): 3,790-3,820 yuan ($546-550) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,770-3,780 yuan per tonne, down 40 yuan per tonneHRC prices nationwide fell, though the decreases were relatively smaller in comparison with other steel products such as rebar, a tr...Read More
China's rebar prices tumbled further on Tuesday November 20 amid persistently weak demand. Domestic Eastern China (Shanghai): 4,150-4,180 yuan ($598-602) per tonne, down 100-120 yuan per tonneNorthern China (Beijing): 3,930-3,980 yuan per tonne, down 100 yuan per tonneThe weakness in the Chinese stock market spread over to the ferrous futures market, weighing on the rebar contract, sources said.Mo...Read More
The initial public offering (IPO) of shares in the newly created Livent Lithium will help the fledgling company to face the challenges of meeting global demand for lithium and to solidify its position as a major supplier to the fast-growing battery industry, according to chief executive officer Paul Graves.The acquisition by Livent's parent company, FMC, of chemicals giant DuPont set the course fo...Read More
Tungsten miner W Resources has begun the early start-up of tungsten and tin concentrate production at its La Parilla mine in Spain as part of a planned staged build-up to full mine production in the first half of 2019, it said on Tuesday November 20. "Tungsten and tin prices are robust and our staged production expansion will allow W to build-up production capacity ahead of full plant completion,"...Read More
Representatives from Chinese manganese alloy smelters will meet this week to discuss silico-manganese tender prices, market sources told Fastmarkets.The meeting is understood to be aimed at keeping the manganese market stable, market sources added. "We want to keep our prices stable so that the market is sustainable for everyone," a silico-manganese producer told Fastmarkets.Others noted that sili...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday November 20.Base metals prices on the Shanghai Futures Exchange were broadly little changed to weaker during Asian morning trading on Tuesday, with the complex stymied by renewed concerns surrounding the United States-China trade spat.Check Fastmarket MB's live futures report here. Man...Read More
High-grade iron ore producer Carpentaria Resources sees a strong need for a high-grade iron ore derivative product, and expects such a financial tool to bring efficiencies in pricing to the high-grade sector."In our view, there is a strong need for the high-grade iron ore derivative and, with the 65% Fe iron ore index increasing in relevance, anything that increases its liquidity and reduces volat...Read More
Australia's Roy Hill is looking to increase its iron ore capacity by another 5 million tonnes per year, which would allow it to produce the steelmaking raw material at a rate of 60 million tpy.This ramp-up is set to commence by the end of 2019, its market technical manager for China, Wang Yongming, told delegates at an industry conference in Xiamen, Fujian province last Friday November 16.A source...Read More
Seaborne iron ore prices retreated on Tuesday November 20 amid weakness in the steel and ferrous futures markets.MB 62% Fe Iron Ore Index: $74.65 per tonne cfr Qingdao, down $1.46 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.84 per tonne cfr Qingdao, down $1.46 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.22 per tonne cfr Qingdao, down $0.58 per tonne.MB 58% Fe Premium Index: $64.34 p...Read More
Buyers and sellers in the seaborne coking coal market remained on the sidelines on Tuesday November 20 to monitor the effects of Chinese import restrictions that came to the fore last week.The National Development & Reform Commission has put a stop to cargoes clearing customs at ports other than their actual destinations as well as the purchase of imported coal that are loaded before December 15....Read More
The Singapore Exchange (SGX) will launch high-grade iron ore swaps and futures contracts on December 3. Here is a summary of the contracts' specifications:Name: SGX MB Iron Ore cfr China (65% Fe Fines) SwapsTicker symbol: M65Contract size (one lot): 500 metric tonnesTrading hours (Singapore time)*: T session: 7.25am-8.00pmT+1 session: 8.00.01pm-4.45amLast trading day: 7.25am-8.00pmNote: After the...Read More
China's ferrous futures fell during morning trading on Tuesday November 20 amid bearish sentiment that had spilled over into the physical steel markets in recent weeks, sending domestic prices downward. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,769 yuan ($543) per tonne, down 67 yuan per tonneJanuary hot-rolled coil: 3,588 yuan per tonne, down 13 yuan per...Read More
Base metals on the London Metal Exchange were predominantly lower during morning trading on Tuesday November 20, with most metals trading in narrow ranges while global trade tensions and depleting LME stocks deter investors. Falling furthest over the morning, copper shed 0.5% of its three-month price over the morning, but remains well supported above $6,200 per tonne due to a recent slew of stock...Read More
Members of the European Parliament (MEPs) and the European Union Council of Ministers have reached a provisional agreement on a limit for cadmium content in phosphate fertilizers sold within the EU.Under the agreement, which has yet to be confirmed by the full European Parliament and Council of Ministers, cadmium content should be capped at 60 milligrams per kilogram of fertilizer from the d...Read More
Chinese buyers have been reluctant to commit to long-term contracts for cobalt raw materials for 2019 during this year's mating season, Fastmarkets has learned.Year-long or multi-year commitments are traditional, but Chinese buyers now intend to purchase cobalt raw materials, including concentrates and hydroxide, on a spot basis, because there is adequate spot supply and because their profit margi...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.htm...Read More