Rio Tinto lowered its 2018 guidance for aluminium by more than 4% on Tuesday October 16, to reflect the impact of the ongoing lock-out at the Becancour smelter in Quebec, Canada.The company's guidance figure for aluminium production has been revised to 3.4-3.5 million tonnes from 3.5-3.7 million tonnes previously, excluding any potential adjustment from the completion of the sale of the Aluminium...Read More

Higher October tender prices for ferro-chrome in China have boosted prices for imported ore and alloy. Chinese mills' tender prices boost spot prices for imported ore, alloyDomestic spot prices stable in China Alloy prices steady in Japan, South Korea European alloy prices continue to slide Alloy prices stabilize in the United StatesChrome ore and ferro-chrome import spot markets strengthened agai...Read More

The Turkish deep-sea scrap market remained silent again on Tuesday October 16, with volumes of billet being purchased instead of scrap, according to market participants.Appetite for scrap has been falling and demand remains low, with reports of mills choosing to purchase billet instead. Turkish domestic billet prices have been on a general downtrend since September 13.Many Turkish steel mills have...Read More

Here are eight key things Fastmarkets MB learned at the aluminium trade show in Dusseldorf on October 9-11 and during LME Week in London. Market cautious on spreads, Rusal Market participants are watching the developments in the aluminium market in the coming months with caution, due to uncertainty about spreads and the future of sanctions against UC Rusal. Should the United States remove sanction...Read More

The price of copper on the Comex exchange in the United States was slightly lower on the morning of Tuesday October 16, with the market unable to sustain the momentum it gained after LME Week in London earlier this month.The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped by 0.50 cents to $2.7880 per lb.Despite disruptions at key producing faci...Read More

The Tuesday Market Minute Global stocks edge cautiously higher, but Saudi tensions, weak China data keep a lid on gains as U.S. earnings season kicks into high gearSecretary Pompeo arrives in Riyadh to meet with King Salman amid reports that Saudi Arabia may admit some responsibility for the disappearance of prominent journalist Jamal KhashoggiChina stocks fall into bear market territory ahead o...Read More

Export prices for flat steel from the Commonwealth of Independent States were weak on Tuesday October 16, reflecting the downtrend in China's export market for hot-rolled coil (HRC).Fastmarkets' weekly price assessment for CIS-origin HRC exports narrowed to $520-530 per tonne fob Black Sea on October 16, from $515-540 per tonne fob Black Sea a week earlier."Suppliers [in the CIS] have no arguments...Read More

* Asia stocks register modest gains * Spot gold may fall into $1,208-$1,217/oz range -technicals (Updates prices, adds quotes)By Vijaykumar VedalaBENGALURU, Oct 16 (Reuters) - Gold prices held steady onTuesday near last session's 2-1/2-month high as risk-averseinvestors sought refuge in the metal amid rising politicaltensions and economic uncertainty.Spot gold was little changed at $1,226.71 an ou...Read More

Flat steel import prices in the United Arab Emirates and Saudi Arabia have decreased over the past week, with demand being weak, sources told Fastmarkets on Tuesday October 16. UAE Hot-rolled coil (HRC) was offered to the UAE at $590-595 per tonne cfr from China. Russia's Severstal sold HRC at $575-580 per tonne cfr to the UAE. India was offering HRC at $600 per tonne cfr, but buyers believe the p...Read More

Domestic flat and long steel prices in Argentina have remained unchanged this month amid strong currency volatility and hesitation in the market.Fastmarkets MB's monthly assessment of Argentina's domestic hot-rolled coil (HRC) price was at $725-755 per tonne ex-works on Friday October 12, stable with the assessment September.While the price of domestic cold-rolled coil (CRC) in Argentina on an ex-...Read More

The latest news and price moves to start the Asian day on Wednesday October 17.Base metals prices on the London Metal Exchange recorded mixed moves at the close of trading on Tuesday October 16, broadly supported by a weaker dollar index in the United States and a marginal recovery in global equity markets. Read more in our live futures report.Here are how prices looked at the close of t...Read More

The government of Mexico will request an exemption from a 25% duty that Canada plans to impose on imports of steel products."The Mexican government will take all actions necessary to protect Mexican exporters in the near term," the country's economy secretariat said late in the week ended Friday October 12."It will also use all the available resources...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, traded at $525 per tonne cfr, theoretical weight,...Read More

The Turkish deep-sea scrap market remained silent again on Tuesday October 16, with volumes of billet being purchased instead of scrap, according to market participants.Appetite for scrap has been falling and demand remains low, with reports of mills choosing to purchase billet instead. Turkish domestic billet prices have been on a general downtrend since September 13.Many Turkish steel mills have...Read More

Seaborne iron ore prices were rangebound on Tuesday October 16, while premiums for Pilbara Blend fines were up slightly. MB 62% Fe Iron Ore Index: $71.50 per tonne cfr Qingdao, down by $0.16 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.53 per tonne cfr Qingdao, down by $0.16 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.70 per tonne cfr Qingdao, up by $0.36 per tonne.MB 58% Fe Premium...Read More

China's ferrous futures trended upward during morning trading on Tuesday October 16, recovering from a drop during the Monday night session.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,157 yuan ($601) per tonne, up 31 yuan per tonneJanuary hot rolled coil: 3,975 yuan per tonne, up 49 yuan per tonneDalian Commodity Exchange January iron ore: 510.50 yuan per to...Read More

Trading activity in the CIS export billet market remained quiet early in the week that began on Monday October 15 amid a mismatch between suppliers' offers and customers' bids.Some market participants expected that conditions in the regional steel market would improve because of the better diplomatic relations between Turkey and the United States, which could have a positive effect on CIS-origin s...Read More

Prices for rebar and billet in the United Arab Emirates were mostly stable in the week ended Tuesday October 16, and demand was moderate, sources told Fastmarkets.Local rebar producers rolled over their prices, and market activity now is better than in the previous week, when buying was very scarce.Domestic rebarLocal producers were offering rebar at 2,016-2,018 dirhams ($549) per tonne ex-works.A...Read More

China's domestic rebar prices retreated slightly on Tuesday October 16 on weak demand and losses in the futures market.Domestic Eastern China (Shanghai): 4,540-4,570 yuan ($656-660) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 4,330-4,370 yuan per tonne, down 10 yuan per tonneRebar demand remained soft on Tuesday, so buyers submitted lower bids than a day earlier.Traders who neede...Read More

Higher October tender prices for ferro-chrome in China have boosted prices for imported ore and alloy. Chinese mills' tender prices boost spot prices for imported ore, alloyDomestic spot prices stable in China Alloy prices steady in Japan, South Korea European alloy prices continue to slide Alloy prices stabilize in the United StatesChrome ore and ferro-chrome import spot markets strengthened agai...Read More