China's hot-rolled coil exporters lowered their offer prices on Tuesday November 13 to stimulate sales despite domestic prices being largely stable.DomesticEastern China (Shanghai): 3,800-3,820 yuan ($546-548) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 3,820-3,840 yuan per tonne, unchangedTrading activity was moderate during the day after prices slumped a day earli...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: hot-rolled coilHot-rolled coilEast China, domestic,...Read More
The domestic Chinese ferro-silicon market was stable in the week ended Friday November 9, while the European price stabilized after the prior week's drop and the US ferro-silicon spot market held week on week. Chinese suppliers focus on domestic market, export price lower on yuan depreciation Europe steadies losses, awaits outcome of industry conference US market focuses on long-term...Read More
Low-grade manganese ore prices ticked up again on better demand, while thin trading knocked high-grade prices. Low-grade prices rise againHigh-grade prices slideSilico-manganese holds in China, ferro-manganese stirs upwardHigh-carbon ferro-manganese ticks up in Europe, drops in United States Silico-manganese holds in Europe, US Low-grade manganese ore prices continued edging up on Friday Nove...Read More
Ore and alloy prices weakened further in China, Europe and the United States as buyers in all three markets held back interest. Ore prices dip again in ChinaSpot domestic and imported ferro-chrome prices still sliding in ChinaAlloy prices hold in Japan, South KoreaAlloy prices weaken in Europe, US Chrome ore and alloy prices continued to soften in China on Friday November 9 amid minimal prompt dem...Read More
European ferro-vanadium and vanadium pentoxide (V2O5) prices gained further strength on the back of limited supply availability in the week ended November 9, while in the United States and China vanadium prices stabilized on subdued market activity.?EUR? Chinese export prices stabilize amid thin export activity due to favorable domestic market ?EUR? Europe FeV prices rise amid the lack of supply a...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 oreVale, tender, 82,728 tonnes of 62.93%...Read More
Seaborne iron ore prices continued to weaken on Tuesday November 13, yet higher premiums were paid for 62% Fe Australian fines.MB 62% Fe Iron Ore Index: $75.73 per tonne cfr Qingdao, down $0.32 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.53 per tonne cfr Qingdao, down $0.32 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $77.72 per tonne cfr Qingdao, down $1.06 per tonne.MB 58% Fe Premium I...Read More
Seaborne coking coal prices were mostly flat on Tuesday November 13 amid inactivity in the spot market.A cargo of second-tier hard coking coal was sold to an end user in southern China at around $195 per tonne fob Australia, market sources told Fastmarkets. They said the cargo was part of a term contract for the month of December."Though this is not a spot transaction, it is still rather closely a...Read More
While the winter season begins in China, the ferrous market is wondering whether Chinese steelmakers will continue to move toward higher-grade, lower-impurity iron ore - an affinity they have demonstrated over the last two years.This affinity is the result of the Chinese government's policy shift that put more focus on protecting the environment as well as its supply-side reforms for the steel ind...Read More
China's steel futures edged up during morning trading on Tuesday November 13 while the steelmaking raw materials contracts dipped across the board.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,874 yuan per tonne, up 7 yuan per tonneJanuary hot-rolled coil: 3,616 yuan per tonne, up 6 yuan per tonneDalian Commodity Exchange January iron ore: 516 yuan per tonne,...Read More
Base metals on the London Metal Exchange were predominantly higher during morning trading on Tuesday November 13, with upward price action largely impervious to a continued surge in the US dollar index and optimism over US-China trade relations boosting commodity investments. Climbing by nearly 1%, the three-month zinc price was the biggest mover in the morning, pushing back above $2,500...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday November 13 *Copper -$139.14 (-969.79 yuan) Aluminium -$431.30 (-3,006.10 yuan) Zinc -$13.14 (-91.55 yuan) Nickel $652.11 (4,545.09 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME...Read More
Cobalt 27 has settled an insurance claim against 76 tonnes of cobalt stolen in July from a warehouse for $40.85 per lb. The settlement totals $6.8 million and is based on the high of the high-grade cobalt price assessed by Fastmarkets MB on Wednesday July 4, the company said late on Tuesday November 13. High-grade cobalt prices were last...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.6% on Tuesday November 13.Nickel and lead prices led with gains of 0.9%, while copper prices were up by 0.5% at $6,075 per tonne.Volume has been average with 5,328 lots traded as of 06:29am London time.Precious metals were up by an average of 0.4%, although spot gold prices lagged with a mere 0....Read More
Three-month base metals prices on the London Metal Exchange were broadly weaker on the morning of Wednesday November 14, with the three-month copper price down by 0.1% at $6,040 per tonne. This after Tuesday’s energetic start that saw the red metal reach $6,181 per tonne at one point. Three-month nickel, lead and zinc were down by 0.2%, 0.3% and 1% respectively on the LME this morning, w...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 point in pre-opening trade.Brrrrr, it's cold out there! It snowed in our neighborhood last night. The spot price for Natural gas jumped $0.55 to $4.65 per MBtu in overnight trading. As the expression goes, "Buy (equities) when it snows, sell when it goes".Index futures moved slightly higher following release of the...Read More
Karen Freifeld(Reuters) - President Donald Trump is expected to provide written answers to questions from the special counsel probing Russian interference in the 2016 U.S. presidential election as soon as this week, a person familiar with the matter said on Tuesday.The questions from Special Counsel Robert Mueller that Trump is preparing to answer relate only to Moscow’s involvement in the e...Read More
(Kitco News) - Gold prices are expected to quietly move higher through the rest of the year into 2019, butone of the world’s top precious metals consultancy firms said investors shouldn’t expect to see fireworks as there currently isn’t an urgency for diversification.In a recent interview with Kitco News, Philip Newman, director and founding partner of Metals Focus, said that alt...Read More
NEW YORK (Reuters) - The euro and sterling rose on Tuesday as Britain and the European Union agreed on a preliminary text for the nation to leave the economic bloc in a bid to avoid a chaotic divorce that would disrupt the region’s economy.The stronger euro and sterling spurred profit-taking in the dollar, which reached a 16-month peak against a basket of currencies on Monday.Uncertainty ove...Read More