A summary of base metals premiums from across the globe for the week to Tuesday November 26.Please click...Read More
Domestic prices for hot-rolled coil have been recovering more slowly in Northern Europe than in the south of the region, sources told Fastmarkets on Tuesday November 26.Although some mills in the north of Europe have been offering material at relatively low prices of about ?,?415-425 per tonne ex-works, market sources believe that such prices will soon no longer be available.This is largely in lin...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday November 26 that are worth another look.The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The word "weak" was one commonly used by attendees of last week'...Read More
Christopher Lewis8 hours ago (Nov 26, 2019 4:36 PM GMT)Gold markets pulled back a bit during the trading session on Tuesday, reaching towards $1450 level, an area that was previous resistance. At this point, that previous resistance at the top of the ascending triangle has held the market up, which is basically what needs to happen in order for gold to continue going higher. There is the possibili...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 26.Please click...Read More
The three-month copper price on the London Metal Exchange moved higher at the close of trading on Tuesday November 26, breaching nearby resistance against modest turnover, while zinc futures failed to test the $2,300-per-tonne resistance level despite a 1.2% afternoon surge.Copper's underlying price closed at $5,924 per tonne in the afternoon, climbing by slightly more than 1% and i...Read More
Seaborne coking coal prices continue to trade in a range-bound manner, with participants keeping a close eye on the impact of the recent supply disruptions on market direction but not seeing them as major price drivers yet.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.70 per tonne, down $1.96 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, unchangedHard...Read More
The three-month copper price on the London Metal Exchange moved higher at the close of trading on Tuesday November 26, breaching nearby resistance against modest turnover, while zinc futures failed to test the $2,300-per-tonne resistance level despite a 1.2% afternoon surge.Copper's underlying price closed at $5,924 per tonne in the afternoon, climbing by slightly more than 1% and i...Read More
European ferro-vanadium prices continued to edge higher on improved sentiment last week, while activity in the Chinese market quietened down. Meanwhile, increased spot liquidity in the vanadium pentoxide market in Europe drove prices down.The prevailing uptrend in China's export price for ferro-vanadium was no longer apparent in the week to Thursday November 21, closely following the sta...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday November 26 that are worth another look.The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The word "weak" was one commonly used by attendees of last week'...Read More
The European Union has launched a complaint to the World Trade Organization (WTO) against Indonesian export restrictions on raw materials used in the production of stainless steel, the European Commission (EC) said on November 22.The EC claims that the restrictions unfairly limit European stainless steel producers' access to raw materials, including nickel as well as scrap, coal and coke, iron ore...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Tuesday November 26, with lead topping losses and closing in on nearby support levels. Lead's outright price was recently seen at $1,950 per tonne this morning, with just over 1,100 lots exchanged as of 9:05am London time. The metal's underlying price climbed higher during October, reaching a high of $2,262...Read More
While Wall Street climbs to record highs on optimism for a United States-China trade deal and on merger and acquisition developments, the metals at best tread water, while some head lower.Asian equities mainly stronger led by a 0.83% rise in the Australian ASX 200 index.Gold and yen trending lower, but US government bond yields are weaker - so a mixed picture for the havens. Base metalsThree-month...Read More
The word "weak" was one commonly used by attendees of last week's Cesco Asia Copper Week in Shanghai when describing their expectations for demand growth in China's downstream copper markets next year. "The automobile market is weakening - not only in China, but globally, the home appliance market is slowing and the refrigerator sector is also poor due to high inventories," one attendee from the C...Read More
Base metals prices on the Shanghai Futures Exchange consolidated lower during the morning trading session on Tuesday November 26 while market participants await more clarity on a phase one trade agreement between China and the United States.The weaker performance by the SHFE base metals relative to Monday morning comes despite the Chinese Commerce Ministry saying earlier today that top Chinese and...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.On Friday 15th February 2019, Vale announced there was a fire affecting a conveyor belt system at its distribution centre in Malaysia. Vale anticipate this will result in a 10 to 15 day halt in operations and note that a planned 10 da...Read More
RAPAPORT... In 2100,the diamond industry will look vastly different from its current makeup, MartinRapaport assured diamantaires at the recent Antwerp Rough Diamond Days event. Mostnotably, it will be less influenced by the mining companies as demand dynamicsincreasingly impact the market, the chairman of the Rapaport Group noted."Marketpower is shifting from supply to demand," Rapaport expla...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
RAPAPORT... Phillips's Hong Kong sale brought in $9.6 million, with a ruby ring standing out as one of the top-selling items, the auction house said Tuesday. The 5.22-carat pigeon's blood Burmese ruby and diamond ring fetched HKD 6.2 million ($785,970), just over its low estimate of HKD 5.9 million ($753,736) at the Jewels and Jadeite auction. Meanwhile, a convertible ring, which can transfor...Read More
The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The commission made the decision to start the investigation on its own initiative, it said in its Official Journal of the European Union on November 25.In February 2018, the...Read More