Turkish long steel export prices continued to fall over the past week on sluggish demand and a downturn in Asian steel prices, sources said on Thursday November 29.Steel mills in Turkey cut their offers to $490-495 per tonne fob on an actual-weight basis, but had attracted almost no interest at those prices, sources told Fastmarkets."We are trying to keep our offers at $495 per...Read More
LONDON, Nov 29 (Reuters) - Broker Amalgamated Metal Trading Ltd has been appointed by the London Metal Exchange as a liquidity provider for its steel contracts, giving a boost to the market as the first ring trader in that role.AMT is one of nine top tier LME members that are allowed to trade in the open outcry ring as well as over the telephone and on the exchange's electronic system, meaning it...Read More
The economic sanctions imposed by the United States against Iran since early August have had direct and indirect negative effects not only on the Middle Eastern country's steel exports but also on its domestic consumption.This may lead to lower steel output by the country in the future, Fastmarkets was told on Thursday November 29.The first tranche of sanctions imposed by the US was intended to pr...Read More
World silico-manganese supply reached 1.62 million tonnes in October, up 16.1% year on year and 9.9% from September, driven by production increases in China and India, according to data from the International Manganese Institute (IMnI). In the first 10 months of the year, global silico-manganese production rose 25.5% year on year, according to the IMnI, which did not provide total year-to-date pro...Read More
The European molybdenum-oxide market has climbed 20 cents in trading by mid-week, with deals and offer prices reported above $12 per lb and returning to a level unseen since the start of November.Some oxide trading, however, has been in South Korea where major steelmaker Posco settled a tender for around 100 tonnes of oxide last week at about $12-12.10 per lb. The company is due to settle another...Read More
Ferroglobe is set to idle almost one-fifth of its silicon metal production capacity in Europe and the United States, cutting it to an annualized rate of 341,000 tonnes from 417,000 tonnes, because of the weaker prices seen this year.The UK-based metals company is planning to idle 36,000 tonnes per year of production capacity in the US. This will be done its plant at Selma, in the state of Alabama,...Read More
China's leading stainless steel mills - Tsingshan Group, Taiyuan Iron & Steel (Tisco) and Baosteel - have lowered their December tender prices for high-carbon ferro-chrome after falling stainless prices hit profits. Early on Tuesday November 27, Tisco announced that its December tender price for high-carbon ferro-chrome was 6,700 yuan ($963) per tonne, 50 yuan per tonne lower than its Novembe...Read More
The latest metal markets news and price moves to start the North American day on Thursday November 29.Base metal prices on the London Metal Exchange were higher during morning trading, with market confidence boosted by US Federal Reserve chairman Jerome Powell saying that the central bank may soon be in a position to pause the interest rate hikes. Rising 2.27%, LME three-month tin traded the most...Read More
Many investors who avoid real estate are afraid of the anticipated difficulties of being landlords. They hear horror stories. They think to themselves, "I don't want to fix toilets," and "I don't want to get calls from tenants in the middle of the night." These are common excuses I hear from people avoiding a challenge.There are strategies for intelligently managing a property that any capable per...Read More
South African miner Tharisa produced a record 1.4 million tonnes of chrome concentrate for the year to September 30, 2018, while a sharp weakening of chrome prices offset the benefit of a higher platinum group metal (PGM) basket price.Tharisa's chrome concentrate production rose 8.8% year on year and sales rose 24.8% to 1.6 million tonnes. Earnings before interest, tax, depreciation and amortizati...Read More
For investors, buying shares of an undervalued stock is good.But there is something much better.I’m talking about buying shares of an undervalued stock where there is also a near-term catalyst on the horizon that will force the market to properly value the company.Value with a catalyst. Yes, that is much better.With that in mind, I present to you Halcon Resources (HK).An undervalued opportun...Read More
Turkish steel mills extended their absence from the deep-sea scrap market on persistently poor demand for finished steel and with no recovery in sight, sources told Fastmarkets on Thursday November 29.After booking three deep-sea cargoes from the United States and the United Kingdom at the end of the last week, steel mills in Turkey paused their buying activity because of the sluggish demand...Read More
Fastmarkets proposes to refine the specifications for three pig-iron price assessments in the United States and Brazil to reflect existing market conditions.Fastmarkets invites market participants to take part in a market consultation to refine the specifications of the three prices below. Fastmarkets has added the chemical compositions into the specifications to specify the phosphorous content of...Read More
Fastmarkets is hosting a free web seminar to discuss the new Singapore Exchange (SGX) 65% Fe derivative contract on December 11. We will examine how changes in the iron ore market have prompted the need for this high-grade derivative, the opportunities the contract offers and the methodology behind our iron ore index. The next stage of evolution for the iron ore market is here, with the SGX announ...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. ...Read More
Physical iron ore trading was mainly inactive on Thursday November 29, with Chinese mills cautious of buying despite gains in the futures and steel markets.MB 62% Fe Iron Ore Index: $66.51 per tonne cfr Qingdao, up $0.16 per tonne.MB 62% Fe Pilbara Blend Fines Index: $65.78 per tonne cfr Qingdao, up $0.16 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $69.30 per tonne cfr Qingdao, down $0.34 per...Read More
Supply concerns in the seaborne coking coal market eased on Thursday November 29 with the lifting of a suspension of services on a major rail line for the steelmaking raw material in Queensland, Australia.Coal services "are recommencing on the Blackwater corridor following visual inspections of the track this morning," a spokesperson for rail freight operator Aurizon said via email during the day....Read More
China's ferrous futures retreated during the morning trading session on Thursday November 29 after a short-lived recovery a day earlier. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,594 yuan ($517) per tonne, down 62 yuan per tonneJanuary hot-rolled coil: 3,434 yuan per tonne, down 31 yuan per tonneDalian Commodity Exchange January iron ore: 474.50 yuan per t...Read More
Base metal prices on the London Metal Exchange were higher during morning trading on Thursday November 29, with market confidence boosted by US Federal Reserve chairman Jerome Powell saying that the central bank may soon be in a position to pause the interest rate hikes. "The market is looking more confident this morning due to Wednesday's Federal Reserve comments, but likewise it is still nervous...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday November 29*Copper -$184.77 (-1,285.13 yuan) Aluminium -$435.73 (-3,030.61 yuan) Zinc -$105.05 (-730.68 yuan) Nickel $429.68 (2,988.58 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More