The latest metal markets news and price moves to start the North American day on Wednesday November 21.The latest metal markets news and price moves to start the North American day on Wednesday November 21.Base metals on the London Metal Exchange were all higher during morning trading, with risk-averse investors capitalizing on lower prices earlier in the week amid a slight downturn in the US doll...Read More

Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 21.Base metal prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Wednesday amid a rise in risk-off sentiment stemming from weakness in global equity markets and a collapse in oil prices.Check Fastmarket MB's live futures report here. M...Read More

Base metals price changes on the London Metal Exchange were mixed at the close of trading on Wednesday November 21, with positive moves in copper, lead and zinc futures contrary to the continued slide in nickel, while the complex remained broadly impervious to continued strength in the US dollar index.Lead futures improved amid a nine-year low in total LME inventory, rising by 2.2% over the day's...Read More

The London Metal Exchange is planning to launch a lithium contract in the second half of 2019 to meet growing demand from the electric vehicle industry, Fastmarkets learned during Asia Copper Week in Shanghai. The contract, announced as part of the exchange's Strategic Pathway in September 2017, will be settled against an index price, with Fastmarkets MB's lithium spot price index one of those bei...Read More

Base metals on the London Metal Exchange were all higher during morning trading on Wednesday November 21, with risk-averse investors capitalizing on lower prices earlier in the week amid a slight downturn in the US dollar and continued uncertainty over US-China trade relations.Climbing just under 1% over the morning, copper's three-month price pushed back above $6,200 per tonne while volumes remai...Read More

SHANGHAI, Nov 21 (Reuters) - China's yuan was little changedagainst the dollar on Wednesday as corporate dollar sellingoffset the drag from a weaker official midpoint. Traders expect the yuan will be kept relatively steady aheadof a high-stakes meeting between U.S. President Donald Trump andChinese President Xi Jinping at the end of the month. Just a few weeks ago markets had hoped the meeting may...Read More

* U.S. crude stocks rise more than expected -EIA* Fearing a glut, OPEC pushes for supply curb* Trump praises Saudi Arabia for helping to lower oil prices (New throughout, updates prices, market activity and comments to settlement)By Stephanie KellyNEW YORK, Nov 21 (Reuters) - Oil prices rose about $1 a barrel a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government d...Read More

* NSE index down 0.53, BSE index down 0.77 pct* Nifty IT index end 2.8 pct lowerNov 21 (Reuters) - Indian shares ended lower on Wednesday in line with broader Asian markets, weighed down by a renewed bout of selling on Wall Street overnight that mounted uncertainty about global economic growth.The broader NSE index .NSEI closed 0.53 percent lower at 10,600.05, while the benchmark BSE index .BSESN...Read More

Investing.com - U.S. crude oil inventories rose more than expected last week, paring earlier price gains as the larger-than-forecast build reinforced concerns of oversupply.The EIA data showed that crude oil inventories increased by 4.85 million barrels in the week to Nov. 16.That was compared to forecasts for a stockpile build of 2.50 million barrels, after a build of 10.27 million barrels in the...Read More

European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday November 21, while concerns over the import quotas imposed by the European Commission (EC) continued to grow.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($616-639) per tonne delivered on Wedne...Read More

The latest news and price moves to start the Asian day on Thursday November 22.Base metals price changes on the London Metal Exchange were mixed at the close of trading on...Read More

Zinc premiums narrowed in Southeast Asia but were stable elsewhere in the week ended Tuesday November 20 after zinc forward price spreads became the most widely backwardated since at least 2004. Lead premiums dropped in Taiwan, with lower offers moving levels down.  Zinc cash/three-month price spread backwardation soars to $98 per tonne  Taiwan lead premium falls pressed by increase in I...Read More

China continues to rely heavily on imported bauxite, with imports set to reach a five-year high of 70 million tonnes this year, Pi Jianqing, deputy manager of the non-ferrous department of Hanzhou Jinjiang Group, said last week. "China is expecting to import 70 million tonnes of bauxite in 2018. This [is the highest] since 2013, when the market stockpiled large quantities of bauxite on tightness c...Read More

Trafigura's rescue package for Nyrstar comes at a price, with the trader taking greater ownership of one of the world's largest zinc smelter's prized assets in return for helping it bridge a nine-day liquidity crunch. Nyrstar announced on Wednesday November 21 that its biggest shareholder, Trafigura, had granted it a committed working capital facility of $650 million, effective November 30. The Be...Read More

Comex copper prices bounced back during the midweek trading session with a softer dollar and technical support boosting the red metal.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 1.20 cents to $2.7785 per lb.Prices could be volatile today with market participants sidelined due to the upcoming...Read More

Daily PDFs will be downloadable until Thursday November 22. After that, because of a public holiday, the next daily PDF will be downloadable on Tuesday November 27, 2018. Read More

China's Belt and Road Initiative is expected to generate around 6.5 million tonnes of copper demand across more than 60 Asian and European countries over 2018-2027, according to new research from MarchWin Consulting as commissioned by the International Copper Association (ICA). The Belt and Road Initiative was first unveiled by Chinese President Xi Jinping in 2013 and aims to strengthen infrastruc...Read More

The price for rebar produced and delivered in Southern Europe widened slightly on Wednesday November 21, although consumers remained unwilling to buy large volumes because questions persist about the European Commission's import quotas.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe widened upward to ?,?530-540 ($605-616) per tonne delivered on Wednesday, from ?,?530-535...Read More

The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday November 21, with consumers not willing to commit to purchases during a time of uncertainty in the markets.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?550-560 ($628-639) per tonne delivered on Wednesday, unchanged now for three weeks, after producers resisted lowering...Read More

Domestic prices for steel beams in Europe were stable this week, although feedstock costs have started to fall, sources told Fastmarkets on Wednesday November 21.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-645 ($708-736) per tonne delivered on Wednesday, unchanged week on week.Fastmarkets' index for Northern European HMS...Read More