The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletCIS, export,...Read More
Import prices for steel billet in Southeast Asia edged down on Thursday October 11 from the previous day, pressured by the region's sustained weakness in buying interest.Fastmarkets' daily assessment of the import price for billet in Southeast Asia was $510-515 per tonne cfr Manila on Thursday, narrowing down by $5 per tonne from $510-520 per tonne cfr on Wednesday.The assessment range had fallen...Read More
Trading activity was limited in the spot market on Thursday October 11, while the benchmark 62% Fe iron index rose slightly.Metal Bulletin 62% Fe Iron Ore Index: $71.30 per tonne cfr Qingdao, up by $0.16 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $70.33 per tonne cfr Qingdao, up by $0.16 per tonne.Metal Bulletin 62% Fe Iron Ore Index, Low Alumina: $76.30 per tonne cfr Qingdao, down...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 oreRio Tinto, Global Ore, 70,000 tonnes of 62.5% Fe...Read More
Seaborne coking coal prices spiked on Thursday October 11, with market participants citing a possible disruption at a coal mine in Mozambique behind the move. A cargo of premium hard coking coal traded at $216 per tonne, fob Australia, on the online trading platform Global Coal, according to various sources. A similar product changed hands $4-per-tonne lower a week earlier."We heard about some iss...Read More
Market participants have hailed Singapore Exchange's (SGX) decision to launch a high-grade iron ore derivative, basis Fastmarkets' daily 65% Fe iron ore price, saying it will serve the burgeoning need for better price risk management tools.The contract is targeted for launch in December, subject to regulatory approval, the exchange announced on Thursday October 11."The SGX's introduction of 65% fu...Read More
The Singapore Exchange (SGX) will launch a high-grade iron ore derivative product to be settled against the daily MB 65% Fe iron ore index published by Fastmarkets, the exchange said on Thursday October 11.The product is targeted for launch in December, subject to due regulatory process, the exchange added."The seaborne iron ore market has continued to 'financialize' and evolve since we cleared th...Read More
China's ferrous futures increased in the morning trading session on Thursday October 11.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,026 yuan ($581) per tonne, up 54 yuan per tonneJanuary hot-rolled coil: 3,884yuan per tonne, up 37 yuan per tonneDalian Commodity Exchange January iron ore: 513 yuan per tonne, up 7 yuan per tonneJanuary coking coal: 1,364 yuan...Read More
China's domestic rebar prices were flat on Thursday October 11, with demand remaining tepid.Domestic Eastern China (Shanghai): 4,540-4,580 yuan ($656-661) per tonne, unchangedNorthern China (Beijing): 4,340-4,370 yuan per tonne, unchangedBillet prices were flat and futures increased a mere 1 yuan per tonne, causing spot market traders to maintain their prices.Trading activity remain...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday October 11.Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Thursday October 11 amid concerns over the global macro-economic environment and dollar strength.Check Fastmarket MB's live futures report here. The price of silicon...Read More
Import prices for stainless steel in East Asia remained relatively steady over the past week amid sluggish trading as a result of China's National Day holiday, while participants observed Chinese offers edging up and Taiwanese offers on a downtrend.Fastmarkets MB's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,100-2,160 per tonne cif East Asian ports f...Read More
China's domestic stainless steel prices rose in the first three days of this week following higher nickel prices. Fastmarkets MB's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,800-16,100 yuan ($2,282-2,325) per tonne including VAT for the week ended Wednesday October 10, up 200 yuan per...Read More
Key data from the Wednesday October 10 pricing session in Asia.Key drivers: - Cheaper offers from the Middle East and Russia pushed Chinese exporters to lower their prices. - Japanese buyers lowered their purchasing prices as they can get cheaper material from other...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points in pre-opening trade. U.S. bank stocks generally moved higher following release of third quarter results this morning. JP Morgan, Citigroup and Wells Fargo moved higher after releasing strong third quarter earnings. Microsoft gained $3.14 to $109.05 after Macquarie upgraded the stock to Outperform from Neutra...Read More
Over the last few days, we have seen market sentiment shift from an overall bullish demeanor in regard to U.S. equities to a bearish outlook. The Dow Jones Industrial Average has now lost over 5% in trading since Wednesday, with a net decline of over 1,300 points in just two days of trading. Following yesterday????s decline of over 800 points in the Dow, today traders continued their liquidation s...Read More
(Kitco News) - Gold bulls today got a quadruple dose of bullish fuel that boosted prices to nine-week highs and above the recent sideways trading range. Today’s surprising gains in gold set the table for sideways-to-higher price action at least into the end of the year. December gold futures were last up $32.70 an ounce at $1,226.20. December Comex silver was last up $0.269 at $14.60 an oun...Read More
(Kitco News) - With this overdue gold rally finally setting in and gold prices at six-week highs, analysts are anxiously eyeing the next key resistance level in hopes of seeing a sustainable move up.Following global equity sell-off and weaker-than-expected U.S. inflation data, gold finally saw the strength that was sorely missing these past six months.December Comex gold futures powered to six-wee...Read More
(Kitco News) - The CNN Fear & Greed Index is currently at 7 - the “Extreme Fear” category, which is a notch lower than Wednesday’s close at 8, when the Dow Jones Industrial Average plummeted more than 800 points.The index tracks seven indicators to gauge investor sentiment in the markets: stock price momentum, stock price strength, stock price breadth, put and call options, j...Read More
(Kitco News) - With Dow Jones Industrial Average plunging more than 800 points on Wednesday and gold climbing more than 2% on Thursday, are investors finally giving up on risk assets and shifting their weight to gold? The Denver Gold Forum was a mixed bag when it came to sentiment in gold. There’s no denying, however, that the following three speakers had the most unequivocal, bullish outloo...Read More