UG2 chrome ore suppliers are cutting offer prices to attract year-end business in China. UG2 prices drop in ChinaChinese domestic ferro-chrome prices slide, import prices steadyAlloy prices unchanged in Japan, South KoreaAlloy prices tick up in EuropeAlloy prices flat in the US UG2 chrome ore prices continued to soften in China in the week ended Friday December 7 due to suppliers cutting offer pri...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday December 11.Base metals prices on the Shanghai Futures Exchange were largely up during Asian morning trading on Tuesday, with positive trade headlines sparking a bout of short covering across the complex. Check Fastmarkets MB's live futures report here.The Chinese ferro-silicon market...Read More
The Chinese ferro-silicon market climbed further on renewed demand in the week ended Friday December 7, while European prices have been hemmed in while suppliers and consumers negotiate long-term delivery settlements. China market gets boost from demand Tight supply underpins market strength European prices stabilize losses US ferro-silicon prices flat amid inactivityThe recent increase in domesti...Read More
Steel mills in China have lowered their bids for alloys, while ores resisted some downward pressure and some buyers secured deals at lower prices in the week ending Friday December 7. Lower and higher grade ore prices rangebound in cif marketLow grade fob index increases on falling freight rateAlloy price in China fallsFerro-manganese into Europe soarsUS alloys unmoved in quiet spot market The Chi...Read More
It's that time of year for a lot of people where your wallet and your "wants" aren't on the same page.It’s no secret that the average American isn’t good with money. As The Motley Fool reports, almost 70% of Americans don’t have even $1,000 in the bank. And “almost half of Americans claim that to cover a $400 emergency, they’d need to borrow the money or sell somethin...Read More
The European ammonium paratungstate (APT) price range narrowed downward at the end of last week and the black concentrate price in China fell slightly. APT fob price in China rose due to lack of supply ; APT price in Europe fell on low buying appetite Black concentrates price softened Ferro-tungsten price higher in Europe but Chinese prices unchangedFastmarkets MB assessed the fob China APT price,...Read More
Amarc Resources (TSXV: AHR; US-OTC: AXREF) has identified five clusters of drill ready targets that cover areas ranging from 1.5 sq. km to more than 5 sq. km during 2018 exploration at its JOY copper-gold project in north-central B.C.'s Toodoggone region.Hudbay Minerals (TSX: HBM; NYSE: HBM) funded the $2.5 million exploration program. It also spent $1.15 million in 2018 to help Amarc acquire un...Read More
Brazilian miner Vale closed a deal with investment fund Hankoe FIP to acquire New Steel, a company focused on developing iron ore processing technologies.The purchase price is $500 million, and the transaction is expected to be concluded in 2019, as it is subject to approval of the Brazilian competition regulator, Cade, and other conditions."The New Steel...Read More
Turkish steel mills remained out of deep-sea scrap markets on Tuesday December 11 because of continued uncertainty in the Chinese steel market, sources told Fastmarkets MB.Market pessimism weighed on China's rebar prices in both the domestic and the export market again on Tuesday December 11.Buyers kept procurement rates low amid bad weather in China, with work suspended at many construction sites...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, bilateral sale,...Read More
Physical iron ore prices stayed rangebound on Tuesday December 11 while steel markets weakened further. MB 62% Fe Iron Ore Index: $65.97 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.24 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $69.68 per tonne cfr Qingdao, down $0.18 per tonne. MB 58% Fe Premium Index: $59.67 per ton...Read More
The price gap in the seaborne coking coal market between fob Australia and cfr China segments continues to leave market participants in a daze."There are more than 50 vessels waiting at the Dalrymple Bay Coal Terminal (DBCT) as of today. All four berths at DBCT were closed from the 8th-10th of December due to fears of cyclone. It has since reopened," an Indian end-user source said.He added that th...Read More
China's ferrous futures moved in different directions during morning trading on Tuesday December 11, with steel and coke futures prices moving up while that of coking coal fell.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,306 yuan ($478.70) per tonne, up 17 yuan per tonneMay hot-rolled coil: 3,281 yuan per tonne, up 23 yuan per tonneDalian Commodity Exc...Read More
The latest news and price moves to start the Asian day on Tuesday December 11.Base metal prices started the week with a step downward on the London Metal Exchange on Monday December 10. Read more in our live futures report.Here are how prices looked at the close of trading:A drop in demand for alumina and supply from new projects coming on stream in 2019 will put Chinese alumina prices under...Read More
Base metals trading on the London Metal Exchange were broadly higher during morning trading on Tuesday December 11. Lead was the best performer in the morning, up 1.1% to $1,972 per tonne. Only aluminium and tin posted slight losses, falling to $1,942 and $18,920 per tonne respectively. Reports of US and China trade talks continuing despite the detention of China technology company Huawei's chief...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday December 11* Copper -$96.63 (-668.44 yuan) Aluminium -$440.06 (-3,043.98 yuan) Zinc -$107.90 (-746.36 yuan) Nickel $392.60 (2,715.73 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Market pessimism weighed on China's rebar prices in both the domestic and the export market on Tuesday December 11. Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($546-550) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,470-3,500 yuan per tonne, down 30 yuan per tonneBuyers kept procurement rates low amid bad weather, with work suspended at many construction sites in no...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Tuesday December 11, with average gains of 0.2%. This after they again tested support levels on Monday, when support held to varying degrees.Copper led on the upside this morning with a 0.6% gain to $6,133 per tonne, while aluminium dipped 0.1% to $1,945 per tonne. Volume across the complex has...Read More
Thin spot activity in the European antimony market pressured prices lower still in the region while an improvement in Chinese sentiment enabled prices there to stabilize. Chinese market steadyFastmarkets MB assessed the price of MMTA standard grade-II antimony, delivered duty-paid, in China at 49,500-50,000 yuan per tonne on Wednesday December 5, unchanged from the previous week. Sellers proved re...Read More
Key data from the pricing sessions in London and Shanghai on Friday December 7.China The Chinese grade-553 silicon price range narrowed upward by $10 per tonne to $1,580-1,650 per tonne last week from the previous week.Japanese traders continued to buy cargoes for delivery in the first quarter of 2019, prompting the slight rebound in the price.Europe Grade-441 and grade-553 silicon prices in Europ...Read More