Prices for imported billet in the United Arab Emirates went down in the week ended Tuesday October 9, although demand continued to be limited, sources told Fastmarkets.Demand may improve in about 10 days' time, when local rebar producers announce new prices, sources said.Domestic rebarLocal producers have not officially changed their prices since late July, but they were giving discounts to buyers...Read More
China's domestic rebar prices saw small increases on Tuesday October 9 on higher futures and gains in the billet market. Domestic Eastern China (Shanghai): 4,530-4,570 yuan ($655-661) per tonne, up 10 yuan per tonneNorthern China (Beijing): 4,330-4,370 yuan per tonne, up 10 yuan per tonneBillet prices increased on good demand and futures moved up steadily today, leading to bullish sentiment in the...Read More
Low-grade manganese ore prices rose again on Friday October 5 on higher offers, while the high-grade market paused. Low-grade manganese ore indices rise, high-grade pauses Chinese markets quiet on National Day holiday Indian alloy prices hold European alloy prices stable US alloys soften on continued low demand Trades indicated low-grade manganese ore prices edged up in Ch...Read More
The European standard grade ferro-silicon spot price was stable for the second consecutive week on Friday October 5 after suppliers held their offer prices following a few weeks of steady falls; US prices stabilized while the Chinese ferro-silicon price was rolled over due to the National Day holiday. Europe market extends stability after run of losses Chinese market unchanged on inactivity&n...Read More
Vietnam's Ministry of Industry and Trade has started the final review into anti-dumping measures imposed on stainless cold-rolled steel from China, Taiwan, Indonesia and Malaysia, it announced on October 3.The review satisfies the requests for it made by domestic stainless steel manufacturers - including Posco VST and Inox Hoa Binh - to the ministry on September 12.The ministry's Department of Tra...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 9.Please click on the thumbnail to view the complete table.Due...Read More
Offers and deal price continued to diverge significantly in the export market for steel billet from the Commonwealth of Independent States, Fastmarkets heard on Tuesday October 9.Fastmarkets' daily CIS billet index was almost unchanged at $462 per tonne fob Black Sea on Tuesday, compared with $461 per tonne...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Tuesday October 9, supported by a marginal downturn in the dollar index, with nickel prices rocketing more than 3%. Closing above $13,000 per tonne for the first time since September 21, the three-month nickel price topped complex gains this afternoon, buoyed largely by a persistent drawdown in LME...Read More
Prices for imported billet in the United Arab Emirates went down in the week ended Tuesday October 9, although demand continued to be limited, sources told Fastmarkets.Demand may improve in about 10 days' time, when local rebar producers announce new prices, sources said.Domestic rebarLocal producers have not officially changed their prices since late July, but they were giving discounts to buyers...Read More
The latest news and price moves to start the Asian day on Wednesday October 10.Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Tuesday October 9, supported by a marginal downturn in the dollar index, with nickel prices rocketing by more than 3%. Read more in our live futures report.Here are how prices looked at the close of trading:If Brexi...Read More
The latest metal markets news and price moves to start the North American day on Tuesday October 9.Base metals prices on the Shanghai Futures Exchange were mostly higher during Asian morning trading on Tuesday October 9, with investor appetite bolstered by a weaker US dollar.Falling from a peak of 95.95 at 20:42 pm Shanghai time last night, the US dollar sat at 95.78 as at 9.57am Shanghai time,...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday October 9.Base metals prices on the Shanghai Futures Exchange were mostly higher during Asian morning trading on Tuesday October 9, with investor appetite bolstered by a weaker US dollar.Check Fastmarket MB's live futures report here. The European ammonium paratungstate market (AP...Read More
If Brexit - the departure of the United Kingdom from the European Union on March 29, 2019 - isn't on your radar, it should be. With the annual London Metal Exchange Week now in full swing, the exchange, its members and their customers need to have contingency plans in place if they are expecting to be affected in any way by Brexit. And as with anything political, an element of brinkmanship will na...Read More
When the London Metal Exchange finished its 12-step warehouse reform package, it proved once more that you cannot please all of the people all of the time. It faced some inevitable criticism of the rules, in particular that the LME went too far in certain areas and should consider tweaking or rolling back some of its reforms. In particular, the focus of attention was on the load-in, load-out (LILO...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Tuesday October 9, supported by a marginal downturn in the dollar index, with nickel prices rocketing more than 3%. Closing above $13,000 per tonne for the first time since September 21, the three-month nickel price topped complex gains this afternoon, buoyed largely by a persistent drawdown in LME...Read More
The prices of base metals on the London Metal Exchange were mostly higher during morning trading on Tuesday October 9, defying a sharp uptick in the US dollar index while high oil prices put pressure on global economies.Climbing 2.6% over the morning, the three-month zinc price reached an intraday high of $2,698 per tonne while volumes traded were high at 5,715 lots as of 11am London time. To...Read More
The seaborne coking coal spot market was mostly stable on Tuesday October 9 amid a stalemate between buyers and sellers. While a Chinese trader estimated that premium mid-vol hard coking coal would likely be tradeable around $210 per tonne cfr China, he expects end users in China to stick to the sidelines at this price due to the availability of cheaper materials domestically.At the Port of Jingta...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have been mostly stable over the past week, with demand being weak and buyers expecting prices to fall, sources told Fastmarkets on Tuesday October 9.Few deals were heard during the week.UAEHot-rolled coil (HRC) was offered to the UAE at $580-590 per tonne cfr from China."Demand is very, very weak - there is no will to buy. Pric...Read More
The Turkish deep-sea scrap market was quiet on Tuesday October 9, with suppliers holding their offer prices steady, according to market participants.There were rumors of a European cargo being sold at $321 per tonne cfr for HMS 1&2 (80:20) and bonus at $331 or $336 per tonne. But market particpants believed that this deal had been done last week although it has only now been heard in the market.Su...Read More
A memorial to former London Metal Exchange chairman Lord Raj Bagri, CBE, has been unveiled at the exchange in the presence of his family, industry peers and friends.A portrait of Lord Bagri etched into a copper cathode now hangs in the mezzanine gallery of the LME, overlooking the open outcry trading floor, after a ceremony during this year's LME Week in London.Lord Bagri's link to the trading flo...Read More