Comex copper prices bounced back in US morning trading on Tuesday January 29 amid a softening dollar and anticipation for the start of US and Chinese trade talks. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 3.35 cents to $2.7135 per lb. "The main focus on the markets will be on the US/Chinese trade talks which get under way tomorrow,"...Read More

Some flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, but demand has remained soft, sources said on Tuesday January 29.Demand was subdued because stock levels in the UAE were already high and buyers wanted to see which direction prices would move after the Lunar New Year holiday in China, sources told Fastmarkets.UAEIndia-origin HRC was on of...Read More

Ferro-tungsten prices will continue to trade in wider ranges this year amid a bearish outlook, market participants told Fastmarkets. Material produced from scrap being shipped to the European market was the main reason for weak ferro-tungsten prices last year and the greater competition has caused traders to retreat from the spot market. Ferro-tungsten producers of standard material, which usually...Read More

Comex copper prices bounced back in US morning trading on Tuesday January 29 amid a softening dollar and anticipation for the start of US and Chinese trade talks. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 3.35 cents to $2.7135 per lb. "The main focus on the markets will be on the US/Chinese trade talks which get under way tomorrow,"...Read More

Base metals prices on the London Metal Exchange were collectively higher during morning trading on Tuesday January 29, with a slight downturn in the dollar index fueling buying momentum while volumes traded over the morning remain moderate. A downturn in the dollar index below the psychological level of 96 has helped further facilitate buying momentum, with copper, nickel and tin prices similarly...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday January 29 Copper -$88.48 (-597.87 yuan) Aluminium -$350.47 (-2,368.07 yuan) Zinc -$122.67 (-828.87 yuan) Nickel -$235.34 (-1,590.13 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More

Fastmarkets MB has today discontinued its aluminium premium assessments for Antwerp duty-paid and unpaid and Vlissingen duty-paid and unpaid. The decision follows a month-long consultation in which all feedback agreed with the discontinuation. Market feedback was that these premiums are no longer a reference price in the market, given the substantial decline in stocks in these two cities...Read More

Most base metals prices on the Shanghai Futures Exchange saw a slightly negative bias during Asian morning trading on Tuesday January 29 as market participants awaited the outcome of the US-China trade talks on January 30-31, although tin bucked the trend amid ongoing supply concerns. Among the complex, tin was the only metal that managed to record some gains. "Investors are faced with a plethora...Read More

Russia's Magnitogorsk Iron & Steel Works (MMK) reduced its export sales in 2018, redirecting shipments to the home market instead, the company said on Friday January 25.In 2018, the company cut exports by 15% year-on-year, to 2.38 million tonnes. Among this tonnage, around 1.95 million tonnes, or 82%, was related to shipments of hot-rolled coil (HRC), a source inside the company told Fastmarkets.F...Read More

Rebar suppliers to Russia's Central Federal District, the major steel-consuming region in the country, have cut their prices because demand in the secondary market remains seasonally weak. Fastmarkets' weekly price assessment for the domestic 12mm A500C rebar in Russia, including 20% VAT, was 33,700-33,800 roubles ($510-512) per tonne cpt Moscow on Monday January 28 , down from 35,000-35...Read More

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarOman, export, rebar, offered at $500-510 per tonne cfr, to the...Read More

The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilIndia, export, hot-rolled coil, offered at $520-525 per tonne cfr, to Saudi Arabia.China, export, hot-rolled coil, offered at $510-515 per...Read More

The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletOman, export, billet, offered...Read More

"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftGolden Mile positioned for successSPONSOREDgolden mile resourcesCardinal advances at pace in Ghana SPONSOREDcardinal resourcesRevised Leonora PFS is next for KinSPONSOREDkin miningThe project ranks among the biggest undeveloped copper-gold-molybdenum deposits in the world and has collectivel...Read More

The import price for steel billet in the United Arab Emirates increased this week on higher offers, sources told Fastmarkets on Tuesday January 29.Domestic rebarLocal rebar producers in the UAE announced reduced prices on January 21 for material to be shipped in February.The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, while Conares Ste...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday January 29 that are worth another look.Ferro-tungsten prices will continue to trade in wider ranges this year amid a bearish outlook, market participants told Fastmarkets.Brazilian federal police have arrested five people related to inspections of the tailings dam that failed last week at Vale's C??rrego do Feij??o iro...Read More

Global miner Vale could be forced to pay as much as 17 billion Reais ($4.51 billion) in compensation for environmental damage and lives lost after the recent rupture at one of its iron ore tailings dams, Brazilian bank Ita?? BBA said in a report on Tuesday January 29.An iron ore tailings dam at the Feij??o mine at Brumadinho in the state of Minas Gerais burst on Friday January 25, with waste mater...Read More

Brazilian federal police have arrested five people related to inspections of the tailing dam that failed last week at Vale's C??rrego do Feij??o iron ore mine.Three of the people arrested on Tuesday January 29 work for the Brazilian miner and two are with T?oeV S?oeD, the German audit firm that certified in 2018 that the dam had met safety standards.The arrest included a search-and-seizure operati...Read More

Turkish deep-sea scrap import prices remained flat on Tuesday January 29 after a confirmed booking for material from the United States, but deals for cargoes are expected to be agreed at higher prices in the coming days, sources said.A US cargo was sold on Monday but reports of the deal came to light only after the deadline for Monday's indices.A steel mill in the Marmara region booked a US cargo...Read More

Global production of direct-reduced iron (DRI) increased by 11.59% in 2018, according to the latest statistics from the World Steel Association (Worldsteel).The principal reason for this growth was higher steel output in the Middle East-North Africa (Mena) region, where more than 90% of steel is produced in electric-arc furnaces, which consume DRI as a raw material, Worldsteel said on Friday Janua...Read More