The price trend in the CIS export billet market reversed at the beginning of this week, going downward with buying activity in the major outlets turning sluggish, Fastmarkets heard on Tuesday February 19.This was partially due to the massive volumes of bookings done in recent weeks. Another reason, howover, was the weakening of the import scrap market in Turkey as well as lower billet prices in Ch...Read More
The price for steel rebar imported into the United Arab Emirates decreased this week in the latest deals, despite demand being stronger than in previous weeks, sources told Fastmarkets on Tuesday February 19.The reason for the fall in the rebar import price was that producers in Oman, currently the main exporter of rebar to the UAE, could not raise their prices for rebar as much as they had for bi...Read More
China's domestic rebar prices were mixed on Tuesday February 19 amid some fluctuation in the futures market, with those in the eastern region holding steady while prices in the north fell.Domestic Eastern China (Shanghai): 3,700-3,750 yuan ($547-554) per tonne, unchangedNorthern China (Beijing): 3,750-3,780 yuan per tonne, down 40-50 yuan per tonneTraders in eastern China kept prices unchanged to...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 19 that are worth another look.The London Metal Exchange has released the fees for its new cash-settled futures contracts to be launched on March 11, three of which - an aluminium premium contract, an alumina futures contract and a cobalt contract - are settled against Fastmarkets MB price benchmarks. Hot metal rem...Read More
Mining companies in Brazil that operate 'upstream' tailings dams will have to completely decommission them by August 15, 2023, according to a new resolution issued by the country's mining agency ANM on Friday February 15.The document, published in the Brazilian official gazette on Monday February 18, showed that 84 dams currently operate through the upstream method, or an 'unidentified' one, and a...Read More
Brazilian miner Vale has pre-emptively evacuated about 200 people living close to another of its iron ore tailings dams after reviewing an independent report, the company said on Sunday February 17.The people were taken from Nova Lima, close to the Mar Azul mine in the south-eastern state of Minas Gerais. Level 2 of the country's emergency action plan for tailings dams was triggered by Vale a...Read More
Chinese exporters were seen raising vanadium offer prices amid stronger sentiment following the market's return from the Chinese New Year holidays, sources told Fastmarkets.Chinese vanadium export offers tick up European ferro-vanadium market flat on inactivity European vanadium pentoxide (V2O5) prices firm following stronger Chinese sentiment US ferro-vanadium prices widen amid activity incr...Read More
Wide contangoes on the London Metal Exchange were supporting global aluminium premiums on Tuesday February 19, with premiums in Europe, the United States and Japan all rising. Contango on LME offsets slow demand for duty-unpaid metal in Europe.Market participants in Asia expect higher premiums on wide spreads.US Midwest premium increases week-on-week in liquid market.Brazil aluminium premiums mixe...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 19.Please click...Read More
A consortium of metals and mining industry participants has teamed up with a blockchain technology firm to develop a platform to improve supply chain management and create efficiencies in the sector.Following its series on the role of blockchain in commodities trade finance, Fastmarkets looks next at the digitization of supply chain management.A consortium of metals and mining industry participant...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 19 that are worth another look.The London Metal Exchange has released the fees for its new cash-settled futures contracts to be launched on March 11, three of which - an aluminium premium contract, an alumina futures contract and a cobalt contract - are settled against Fastmarkets MB price benchmarks. Hot metal rem...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Tuesday February 19, with a new round of trade talks between the United States and China improving market sentiment amid a slight softening of the US dollar index.Volumes traded over the day were moderate, with copper's 19,500 lots leading the complex.The metal's three-month price continued to trade on an...Read More
The London Metal Exchange has released the fees for its new cash-settled futures contracts which will be launched on March 11, three of which are settled against Fastmarkets MB benchmarks.The cash-settlement fee for the aluminium premiums contracts will be $0.35 per leg, per side of the trade, per lot, the LME said on Tuesday February 19. The aluminium premiums suite includes a duty-unpaid Eu...Read More
Aluminium's three-month price on the London Metal Exchange was little changed during morning trading on Tuesday February 19, with continued volatility in stock flows across LME-listed Malaysian warehouses doing little to jolt the metal's stagnant price action.Three-month aluminium has failed to trade above $2,000 per tonne since October 2018 and has consolidated in thin ranges around $1,850 per to...Read More
Investing.com - Gold prices rose while the U.S. dollar traded near flat on Tuesday in Asia as traders awaited clarity on U.S.-China trade talks.In futures trading, gold's benchmark April contract on the Comex division of the New York Mercantile Exchange was up 0.4% at $1,326.75 per ounce by 1:32 AM ET (06:32 GMT).The precious metal has benefited from a weaker U.S. dollar during the past week, risi...Read More
Suppliers of hot-rolled (HR) and cold-rolled (CR) steel sheet to Russia's Central federal district around Moscow have increased their offer prices on seasonally improved demand and a burgeoning export market, sources told Fastmarkets on Monday February 18.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was 42,000-43,000 roubles ($634-649) per tonne cpt Moscow on Monday, includi...Read More
ArcelorMittal has added a further ?,?30 ($34) per tonne to its European coil steel prices, the world's largest steelmaker told Fastmarkets on Tuesday February 19.The second increase in offer prices in less than a month follows the company's announcement that it would be adding ?,?30 per tonne to the price of European coil products on January 31.The latest price increase will be...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 19 that are worth another look.The London Metal Exchange has released the fees for its new cash-settled futures contracts to be launched on March 11, three of which - an aluminium premium contract, an alumina futures contract and a cobalt contract - are settled against Fastmarkets MB price benchmarks. Hot metal rem...Read More
Global miner Eurasian Resources will place its Boss Mining copper-cobalt unit in Democratic Republic of Congo on care and maintenance at the end of February 2019, the company has told Fastmarkets."Boss Mining will be placed into care and maintenance from the end of February," the company said in a statement published on Tuesday February 19."We can confirm that technical and exploration work has st...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Tuesday February 19, with a new round of trade talks between the United States and China improving market sentiment amid a slight softening of the US dollar index.Volumes traded over the day were moderate, with copper's 19,500 lots leading the complex.The metal's three-month price continued to trade on an...Read More