Steelmakers in Ukraine were continuing operations and shipments as normal on Wednesday November 28, despite the country imposing martial law at 9am local time after the latest military clash with Russia.ArcelorMittal Kryvyi Rih and Metinvest were the steelmakers most likely to be affected by the dispute, which centered on the seizure by Russia of Ukrainian ships in the Kerch Strait, which links th...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedImperial filed a lawsuit in the British Columbia Supreme Court in 2016 alleging negligence and breach of contract by both engineering firms Knight Piesold and AMEC, which is now Amec Foster Wheeler, following the August 4, 2014 failure.The company said the lawsuit was settled among all parties, resulting in net payments due to the...Read More
Prices for hollow steel sections in Northern Europe moved down this week following falls in feedstock prices, market participants told Fastmarkets MB.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?635-650 ($718-735) per tonne delivered on Thursday November 28, down from ?,?640-660 per tonne delivered on November 21.Th...Read More
Iranian exporters of semi-finished steel products, billet in particular, have come under pressure from the increasing presence of Chinese suppliers in the global market.The domestic billet price in northern China has fallen by 380 yuan per tonne since the beginning of the week, reaching 3,050 yuan ($439) per tonne ex-works on November 28.The drop in the domestic price made the export market more a...Read More
Despite a firmer dollar, the three-month base metals prices on the London Metal Exchange are up across the board by an average of 0.8% this morning, Wednesday November 28. Nickel and tin are the outperformers with gains of 1.4% and 1.1% respectively.Copper prices are up by 0.8% at 4$6,160 per tonne. Volume has been average, with 5,147 lots traded as at 6.48am London time. The precious metals...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday November 28:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.10...Read More
Key data from the Wednesday November 28 pricing session in Europe.Key drivers European suppliers appear to have been successful in holding up prices despite earlier downward pressure from some Russian exports into Europe. The move follows a downward trend in alloy prices that started on September 12, when the market was assessed at $5.80-6.05 per kg, and stopped around the start of November....Read More
A plunge in silico-manganese futures prices on the Zhengzhou Commodity Exchange (ZCE) at the start of this week was driven by weakness in China's steel market, market participants told Fastmarkets. On Monday November 26, trading was suspended for the ZCE's most-traded January silico-manganese futures contract after the price of the contract plunged by 7.1% from the previous trading day's close. Th...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 28.Base metals on the Shanghai Futures Exchange continued to be pressured by a strong dollar during Asian morning trading on Wednesday, with limited price movements recorded across most of the complex as a result. Check Fastmarkets MB's live futures report here.The looming b...Read More
Vanadium trade log including business, bids and offers reported to Fastmarkets.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Friday November 23Ferro-vanadium - Prices indicated a...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Investors are waiting for a speech by Federal Reserve Chairman Jerome Powell to be released at the Economy Club of New York at noon.Index futures were virtually unchanged following release of U.S. third quarter real GDP at 8:30 AM EST. Consensus for second estimate of third quarter real...Read More
Physical iron ore markets recorded mixed performance on Wednesday November 28 amid a rebound in futures and swaps trading yet continued bearishness among participants. MB 62% Fe Iron Ore Index: $66.35 per tonne cfr Qingdao, up $1.16 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.62 per tonne cfr Qingdao, up $1.16 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $69.64 per tonne cfr Qingdao, u...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 oreBHP, Beijing Iron Ore Trading...Read More
Supply concerns have emerged in the seaborne coking coal market after a major rail line in Australia was shut down on Wednesday November 28.Bushfires across the state of Queensland, Australia's coal-producing hub, led to Aurizon suspend services on the Blackwater rail line, a spokesperson for the rail freight operator told Fastmarkets during the day."Aurizon Network has advised operators in the Bl...Read More
China's ferrous futures rose across the board during morning trading on Wednesday November 28, reversing the trend seen in the first two days of this week.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,622 yuan ($521) per tonne, up 43 yuan per tonneJanuary hot-rolled coil: 3,444 yuan per tonne, up 37 yuan per tonneDalian Commodity Exchange January iron ore: 472...Read More
Aurelius Minerals of Vancouver has exercised its option early to acquire a 100% interest in the Mikwam gold property 160 km northeast of Timmins. The company issued 1.5 million shares as share option payments to the former owner, ALX Uranium Corp.Aurelius previously made cash payments of $25,000 and issued 1.5 million shares to ALX, and the company retains a 5% net smelter royalty.This acquisiti...Read More
My 14-year-old daughter has taken it upon herself to help me with my holiday shopping.She’s been sending me links to everything from clothes to stocking stuffers to electronics that she wants under the tree for herself or her siblings.This week, she’s been joined by her brothers and sisters too!At this point I’m getting requests at all hours of the day. It’s like these kids...Read More
The Dow Jones plunged over 1,000 harrowing points last week.And so investors entered Monday's drama with one eye on the stage… and the other on the exit.But the Big Board put them to ease with a thumping 354-point rally.The S&P worked a 41-point advance of its own. The battered Nasdaq surged 143.Stocks were mixed today before scratching out a late day gain.But what next?Will the rout res...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday November 28*Copper -$165.96 (-1,156.79 yuan) Aluminium -$425.57 (-2966.32 yuan) Zinc -$98.06 (-683.48 yuan) Nickel $309.58 (21,57.84 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME...Read More
China's domestic rebar prices bounced back on Wednesday November 28 amid gains in the futures market, though export prices continued to spiral downward.Domestic Eastern China (Shanghai): 3,800-3,830 yuan ($547-551) per tonne, up 50-70 yuan per tonneNorthern China (Beijing): 3,490-3,520 yuan per tonne, up 20 yuan per tonneRebar futures picked up more strength during the day, which encouraged seller...Read More