China's domestic rebar prices moved up slightly on Monday October 15 following gains in the billet and futures markets. Domestic Eastern China (Shanghai): 4,550-4,590 yuan ($657-663) per tonne, up 10 yuan per tonneNorthern China (Beijing): 4,340-4,380 yuan per tonne, widened upward by 10 yuan per tonneThe price of billet rose over the weekend amid a pick-up in demand, while futures rose continuall...Read More
The European market for standard-grade ferro-silicon was unchanged for the third consecutive week on Friday October 12, with suppliers in talks about selling alloy within the present spot price range, while Chinese prices were beginning to slide on slow demand. European market solidifies price position Outlook slow, but stable for the near term Chinese market starts to slip on lackluster demand US...Read More
The European Commission's imposition of tariff rate quotas on 23 steel products earlier this year is severely threatening non-integrated downstream wire rod consumers who have become increasingly reliant on imports over the last few years, the European Non-Integrated Wire Rod Processors Association (Eunirpa) said. Wire rod imports into Europe have increased sharply in the past three years - the ti...Read More
Seaborne iron ore prices were rangebound amid a quiet market on Monday October 15 with uncertainties emerging over steelmaking restrictions in east China.MB 62% Fe Iron Ore Index: $71.66 per tonne cfr Qingdao, down by $0.01 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.69 per tonne cfr Qingdao, down by $0.01 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.34 per tonne cfr Qingdao, down by...Read More
The European market for standard-grade ferro-silicon was unchanged for the third consecutive week on Friday October 12, with suppliers in talks about selling alloy within the present spot price range, while Chinese prices were beginning to slide on slow demand. European market solidifies price position Outlook slow, but stable for the near term Chinese market starts to slip on lackluster demand US...Read More
The prices of base metals on the London Metal Exchange were mostly lower day-on-day at the close of trading on Monday October 15, with a softer US dollar having little effect on prices but trade tensions and weak stock markets keeping investors cautious.The three-month lead price rose by 1.6% over the afternoon to reach an intraday high of $2,116 per tonne, its highest level since September 4.Whil...Read More
The biggest question facing miners when planning for trade cycles is how flows will be redirected or constrained as a result of discussions between China and the United States, according to the president of marketing and supply at BHP. Arnoud Balhuizen said that BHP's commodities have been flowing as they always have, and the impact on prices has been relatively muted on a historical basis. How th...Read More
Bismuth prices were under pressure in Europe in the week ended Friday October 12, with prices reaching their lowest level so far this year on surplus production and weak demand. Fastmarkets MB assessed the European bismuth price at $3.90-4.40 per lb on Friday October 12, down by $1.20 on the low end of the range from Wednesday's assessment. Abundant supply and a lack of sufficient demand to a...Read More
The latest news and price moves to start the Asian day on Tuesday October 16.Base metal prices on the London Metal Exchange were mostly lower at the close of trading on Monday October 15 compared with Friday, with a softer United States' dollar having little effect on prices but trade tensions and weak stock markets keeping investors cautious. Read more in our live futures report. Here are ho...Read More
The latest metal markets news and price moves to start the North American day on Monday October 15. Base metals prices on the London Metal Exchange were predominantly lower during morning trading due to a firm dollar index, while the lead price continued its recovery.Here's how base metals prices looked at...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday October 15.Most base metals prices on the Shanghai Futures Exchange were little changed to weaker during Asian morning trading on Monday, with a resurgent dollar putting downward pressure on the complex. Lead was the lone metal to record any price gains.The dollar index, at 95.33 as at...Read More
The prices of base metals on the London Metal Exchange were mostly lower day-on-day at the close of trading on Monday October 15, with a softer US dollar having little effect on prices but trade tensions and weak stock markets keeping investors cautious.The three-month lead price rose by 1.6% over the afternoon to reach an intraday high of $2,116 per tonne, its highest level since September 4.Whil...Read More
Comex copper prices rose to a multi-week high in morning trading on Monday October 15 amid a weaker dollar and optimism from LME Week in London last week. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 3.00 cents to $2.83 per lb - the highest since October 4. While the rest of the complex...Read More
Seaborne iron ore prices were rangebound amid a quiet market on Monday October 15 with uncertainties emerging over steelmaking restrictions in east China.MB 62% Fe Iron Ore Index: $71.66 per tonne cfr Qingdao, down by $0.01 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.69 per tonne cfr Qingdao, down by $0.01 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.34 per tonne cfr Qingdao, down by...Read More
Fastmarkets MB's weekly price assessments for the CIS export steel market will not be published on October 15 because of a public holiday in Ukraine. Instead, the prices will be published on October 16, 2018. The prices affected are:CIS export cold rolled coil $ per tonne fob Black SeaCIS export hot rolled coil $ per tonne fob Black SeaCIS export heavy plate (10-50mm) $ per tonne fob Black SeaCIS...Read More
The Chinese silicon export price moved up following a series of domestic ex-works deals since mid-September, while in the US the price fell for the seventh consecutive month.The Chinese grade 553 silicon export price was assessed at $1,660-1,730 per tonne on Friday October 12, up 0.6% from $1,650-1,720 per tonne previously. Domestic Chinese ex-works prices have been rising since mid-September, whi...Read More
Copper concentrate treatment and refining charges (TC/RCs) rose to their highest in a year as the market gathered in London for LME Week.The Fastmarkets copper concentrate TC/RC index came in at $89 per tonne / 8.9 cents per lb on Monday October 15, a gain of $2.60 / 0.26 cents week on week to the index's highest level since October last year.Spot copper concentrates trading has been limited, with...Read More
The fate of the Tuticorin copper smelter in the southern Indian state of Tamil Nadu will be decided at the end of November because more time is required to investigate the allegedly polluting project, local media reported on Monday October 15.The Times of India reported that a panel formed by the National Green Tribunal, India's environmental safeguarding body, wanted to listen to more views from...Read More
The London Metal Exchange's published charge caps for the 2019-20 period specify increased free-on-truck (fot) rates for Germany, Spain and the United Kingdom, the exchange said in a note to members on Monday October 15. While the original fees - which came into effect on April 1, 2017 - were expected to be frozen until 2022, the LME has readdressed its rates after a period of participan...Read More
Continued uncertainty about spreads, tariffs and the viability of trade with UC Rusal have pushed participants in the European aluminium market into taking a cautious stance when negotiating next year's long-term deals.They expect premiums next year to be unpredictable, with record-low aluminium stocks likely to cause intermittent backwardations throughout the year.As a result, market participants...Read More