The latest news and price moves to start the Asian day on Friday October 19.Base metal prices on the London Metal Exchange fell at the close of trading on Thursday October 18 due to a firmer US dollar index, although zinc was relatively steady thanks to low stocks and the threat of more sanctions by the United States. Read more in our live futures report.Here are how prices looked at the...Read More
The latest metal markets news and price moves to start the North American day on Thursday October 18.Zinc continued to outperform the other base metals during morning trading the London Metal Exchange following a large cancellation at LME-listed warehouses.The three-month zinc price peaked at $2,687 per tonne this morning, its highest since the start of October, after more than 31,000 tonnes of th...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday October 18.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Thursday, with only zinc showing any meaningful gains while copper was little changed.The broad-based weakness in the base metals follows a rebound in the dollar after the...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday October 18 because of a firmer dollar but zinc continued to rally thanks to low stocks and the threat of more US sanctions.Copper closed below $6,200 per tonne for the first time this week while nickel hit a one-month low of $12,200 per tonne this afternoon but recovered to close at $12,350 per to...Read More
The Comex copper price tumbled in the morning on Thursday October 18 after the US Federal Reserve indicated another interest rate rise is imminent. The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 4.10 cents to $2.7370 per lb. The broad-based weakness in the base metals follows a rebound in the dollar after the minutes from the US Federal Op...Read More
Seaborne iron ore prices were rangebound on Thursday October 18, with the market showing signs of cooling off from Wednesday's bullishness.MB 62% Fe Iron Ore Index: $73.58 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Pilbara Blend Fines Index: $72.61 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.60 per tonne cfr Qingdao, down by $0.15 per tonne.MB...Read More
The Turkish deep-sea scrap market showed signs of renewed activity on Thursday October 18, with prices being pushed upward by rumors of a new cargo booking.So far this week, no deep-sea cargo bookings have been heard, but rumors of a European cargo being sold were circulating on the market today. But the details began to emerge...Read More
Imported steel billet prices in Egypt decreased in the week ended Thursday October 18, with demand in the country remaining weak.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $480-485 per tonne cfr on Thursday, falling from...Read More
The Comex copper price tumbled in the morning on Thursday October 18 after the US Federal Reserve indicated another interest rate rise is imminent. The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 4.10 cents to $2.7370 per lb. The broad-based weakness in the base metals follows a rebound in the dollar after the minutes from the US Federal Op...Read More
BHP's zinc concentrates production rose 5% year on year in the three months ended September 30, 2018, according to the company's quarterly production report released on Wednesday October 17. The company produced 30,558 tonnes in the July-September period, up 5% from 29,201 tonnes in the same period of 2017, although production dropped by 15% on a quarterly basis. The miner produced 35,983 tonnes o...Read More
Key data from the Wednesday October 17 pricing session in Asia. Key drivers: Cheaper offers from new supply regions including the Middle East, Russia, Spain and Italy put pressure on Chinese exporters to lower their prices.This new supply was diverted to Japan from Europe and...Read More
Australian-Chinese miner MMG has increased 2018 production guidance from Dugald River, with a ramp-up at the Australian zinc mine progressing faster than expected.Dugald River will produce 140,000-150,000 tonnes of zinc in concentrate this year, MMG said, above the 120,000-140,000 tonnes previously stated by the company."The Dugald River ramp up continues to track ahead of schedule, with mining an...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday October 18*Copper -$95.64 (-665.08 yuan) Aluminium -$452.61 (-3,147.39 yuan) Zinc -$82.92 (-576.6 yuan) Nickel $317.67 (2,208.99 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
The latest metal markets news and price moves to start the North American day on Thursday October 18.Zinc continued to outperform the other base metals during morning trading the London Metal Exchange following a large cancellation at LME-listed warehouses.The three-month zinc price peaked at $2,687 per tonne this morning, its highest since the start of October, after more than 31,000 tonnes of th...Read More
Polish secondary aluminium producer Alumetal SA raised capacity at its plant in Gorzyce, Poland, earlier this month, it said, amid falling prices - diecasting alloy is down by than ?,?200 in Europe since the start of 2018.Capacity at the producer's Gorzyce plant has increased to more than 20,000 tonnes per year from 8,000 tpy, it said. The expansion will also allow the company's plant to produce a...Read More
Prices for US domestic rebar remained flat despite a modest gain in Chicago shredded scrap prices, while imported prices remain static due to a lack of confirmed market activity. Fastmarkets AMM's assessment for domestic rebar held at $35-36 per hundredweight ($700-720 per short ton) fob Midwest mill on Wednesday October 17, while imported rebar remained at $676-700 per ton cfr Port of Houston. No...Read More
Import prices for flat-rolled steel in the United States are mostly in line with levels recorded two weeks ago, although market participants have said that import volumes could recover if recent domestic price increases take full effect.Fastmarkets AMM's assessment for imported hot-rolled coil (HRC) narrowed upward to $740-780 per short ton cfr port of Houston on Thursday October 17 from $720-780...Read More
China's domestic hot-rolled coil prices decreased on Thursday October 18 following a sharp drop in the futures market. DomesticEastern China (Shanghai): 4,210-4,230 yuan ($608-611) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 4,110-4,120 yuan per tonne, down 10 yuan per tonneThe significant drop in the futures market dampened demand for HRC and pushed down spot prices for the product...Read More
China's domestic rebar prices held steady on Thursday October 18 despite a big drop in the futures market.Domestic Eastern China (Shanghai): 4,550-4,590 yuan ($657-663) per tonne, unchangedNorthern China (Beijing): 4,340-4,380 yuan per tonne, unchangedRebar futures took a big tumble during the day, which dampened buying interest in the spot market.A week-on-week drop in inventory levels kept price...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...Read More