Turkish steel producers have continued to book cargoes in the deep-sea scrap trade, with two more transactions coming to light, pushing prices up further on Monday October 29.These two deals were heard on Friday after the data submission deadline for the day.A steel mill in the Iskenderun region booked a Baltic Sea cargo comprising HMS 1&2 (80:20) at $335 per tonne, shredded at $340 per tonne and...Read More
Iron ore prices were largely steady on Monday October 29, with limited liquidity in the spot market amid expectations of a loosening of steelmaking restrictions in China.MB 62% Fe Iron Ore Index: $76.48 per tonne cfr Qingdao, unchanged.MB 62% Fe Pilbara Blend Fines Index: $75.51 per tonne cfr Qingdao, unchanged.MB 62% Fe Iron Ore Index-Low Alumina: $80.23 per tonne cfr Qingdao, down $0.17 per tonn...Read More
Seaborne iron ore pellet prices dipped for the third consecutive week on Friday October 26, on limited demand from China according to market participants.Fastmarkets' MB 65% Fe Iron Ore Pellet Index (MBIOI-PT) was $152.47 per tonne cfr China on Friday, down by $3.16 per tonne from a week earlier.The fall in the MBIOI-PT is based on the visible market activity detailed below.A 65% Fe Indi...Read More
Positive sentiment continued to spread in the CIS export billet market on Monday October 29, despite a lack of confirmed deals and no major price changes.Market participants said that ongoing improvements in import scrap prices in Turkey should provide support for CIS billet sellers.Another supporting factor was that fewer customers were willing to deal with Iranian materi...Read More
Rebar prices edged up in northern China on Monday October 29 on a slight buying blip while those in the eastern region were stagnant amid transportation restrictions.Domestic Eastern China (Shanghai): 4,650-4,680 yuan ($669-674) per tonne, unchangedNorthern China (Beijing): 4,410-4,450 yuan per tonne, up 10 yuan per tonneRebar futures dropped during the day, but spot prices held up, with those in...Read More
China's ferrous futures fell during morning trading on Monday October 29 after the central Chinese government voiced its objection over what it considered to be indiscriminate restrictions to cut emissions.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,168 yuan ($600) per tonne, down 34 yuan per tonneJanuary hot rolled coil: 3,854 yuan per tonne, down 41 yuan p...Read More
Prices for manganese ore imported into China on an fob basis ticked upward in the pricing session that ended on Friday October 26, while trading activity started to pick up in China before the onset of winter. High- and low-grade manganese ore prices showed modest increases Manganese ore grade prices in China ticked upward Falling bids weigh on Indian silico-manganese prices US focuses on long-ter...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday October 29, with strong consumer spending figures from the United States fueling broad strength in the US dollar index and adding downward pressure on prices.In a report released by the US Commerce Department, consumer spending increased by 0.4% over October, however, this is the smallest gain in 15...Read More
Ammonium paratungstate (APT) prices remained supported, with a new round of environmental inspections expected to take supply out of the market. Environmental inspections team to return to Jiangxi, Hunan provinces; APT price supported Ferro-tungsten prices range-bound on weak demand, oversupply Concentrates prices unchanged awaiting clear market directionFastmarkets MB assessed the European APT pr...Read More
Positive sentiment continued to spread in the CIS export billet market on Monday October 29, despite a lack of confirmed deals and no major price changes.Market participants said that ongoing improvements in import scrap prices in Turkey should provide support for CIS billet sellers.Another supporting factor was that fewer customers were willing to deal with Iranian materi...Read More
The latest news and price moves to start the Asian day on Tuesday October 30.Base metal prices on the London Metal Exchange were lower at the close of trading on Monday October 29, with strong consumer spending figures from the United States fueling broad strength in the US dollar index and adding downward pressure to the market. Read more in our live futures report.Here are how prices looked at t...Read More
Good morning from Fastmarkets' offices in Asia, bringing the latest news and pricing stories on Monday October 29. Base metals prices on the Shanghai Futures Exchange were predominantly higher during Asian morning trading, with zinc showing the biggest gains on depleting inventories; meanwhile tin and...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday October 29, with strong consumer spending figures from the United States fueling broad strength in the US dollar index and adding downward pressure on prices.In a report released by the US Commerce Department, consumer spending increased by 0.4% over October, however, this is the smallest gain in 15...Read More
Iron ore prices were largely steady on Monday October 29, with limited liquidity in the spot market amid expectations of a loosening of steelmaking restrictions in China.MB 62% Fe Iron Ore Index: $76.48 per tonne cfr Qingdao, unchanged.MB 62% Fe Pilbara Blend Fines Index: $75.51 per tonne cfr Qingdao, unchanged.MB 62% Fe Iron Ore Index-Low Alumina: $80.23 per tonne cfr Qingdao, down $0.17 per tonn...Read More
Comex copper prices edged higher Monday morning in the US with the market holding steady amid further Chinese stock market deterioration. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 1.25 cents to $2.7535 per lb.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% ov...Read More
Treatment charges (TCs) for spot zinc concentrates continued to rise over the past week after an open arbitrage into China and agreement on higher prices led to a flurry of deals earlier in the month.Meanwhile, spot prices for lead concentrates dropped, although the market was persistently lacking in supply.The zinc market is still in transition from being more tightly supplied than at any other t...Read More
Cobalt spot market prices for both high- and low-grade material increased week on week on Wednesday October 24 on bullish sentiment that was fueled by supply tightness in the United States, arising from sanctions on Chinese metal, Fastmarkets has heard.Although the cobalt spot market was unusually slow last week, due to industry conferences and the beginning of contract price negotiations, the dea...Read More
Comex copper prices edged higher Monday morning in the US with the market holding steady amid further Chinese stock market deterioration. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 1.25 cents to $2.7535 per lb.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% ov...Read More
South Korean zinc smelter Young Poong is facing a 20-day shutdown at its Sukpu refined zinc smelter after a court rejected the company's appeal against a closure order.Situated in a national park, the Sukpu smelter is alleged to have discharged waste from the smelting process into the local river, which is used for drinking water by millions of people. Environmental groups and residents have been...Read More
Base metals prices on the London Metal Exchange were mostly lower at the start of the week on Monday October 29, with nickel trading at a 10-month low while weaker Chinese stocks indices add pressure across morning trading.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% over the morning and nearing levels unseen since 2014.&...Read More