Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday 09*Copper -$75.96 (-527.03 yuan) Aluminium -$451.3 (-3,131.18 yuan) Zinc $6.6 (45.78 yuan) Nickel $295.37 (2049.29 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Major annual copper premium increases are coming as a result of booming demand for refined metal, Aurubis chief executive J? 1/4 rgen Schachler told Fastmarkets. Refined copper demand, driven by a global shift to increased electric connectivity is maintaining growth while higher environmental regulations pile pressure on smelter supply, he said in an interview during LME Week in London. "We see mu...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 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
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
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
Fastmarkets has discontinued its weekly price assessment for Algeria rebar imports, expressed in ?,? per tonne cfr. There will be no price assessment on October 10.After a consultation period, Fastmarkets has decided to cease assessing prices for this market. Rebar import volumes into Algeria have been decreasing rapidly since 2016, when the country's government introduced import quotas.That decis...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilIndia, export, hot-rolled coil, offered at $600 per tonne cfr, to Saudi Arabia.China, export, hot-rolled coil, offered at $580-590 per...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletCIS, export, billet, offered at $510-515 per...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
Ferro-chrome spot prices dropped in Europe amid weaker demand and a lower benchmark for the fourth quarter. European ferro-chrome price drops after lower benchmark announced Ore and alloy prices stable in China Alloy prices hold in Japan, South Korea US spot price under pressure from European benchmark settlement The European spot high carbon ferro-chrome price dropped for the four...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
Seaborne iron ore was trading above $70 per tonne cfr China on Tuesday October 9 amid paper market gains.Fastmarkets MB 62% Fe Iron Ore Index: $71.14 per tonne cfr Qingdao, up by $1.73 per tonne.Fastmarkets MB 62% Fe Pilbara Blend Fines Index: $70.17 per tonne cfr Qingdao, up by $1.73 per tonne.Fastmarkets MB 62% Fe Iron Ore Index-Low Alumina: $75.19 per tonne cfr Qingdao, up $...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 oreSpot market, 190,000 tonnes of 62% Fe Pilbara blend fines, sold at $70.40 per tonne cfr China, laycan October 26-November 4.Vale,...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
China's rebar, hot-rolled coil and coke futures ended morning trading on Tuesday October 9 significantly higher, while the iron ore and coking coal contracts were little changed from their opening prices. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,024 yuan ($582) per tonne, up 33 yuan per tonneJanuary hot-rolled coil: 3,918 yuan per tonne, up 15 yuan per to...Read More
China's export prices for hot-rolled coil fell on Tuesday October 9 after sellers lowered their offers amid buyers' bearish expectations, though the country's domestic market posted some gains on steady demand.DomesticEastern China (Shanghai): 4,250-4,270 yuan ($615-618) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 4,150-4,160 yuan per tonne, up 10 yuan per tonneDomestic prices rose...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
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.Index futures were virtually unchanged following release of the September Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a decline of 0.1% in August. Actual was. Excluding food and energy, consensus for the September Producer Price Index was an increase of...Read More