China's domestic rebar prices dropped on Monday November 5, with market participants taking a pessimistic view on demand and supply. Domestic Eastern China (Shanghai): 4,630-4,660 yuan ($672-676) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 4,450-4,480 yuan per tonne, down 10-20 yuan per tonneSpot rebar prices fell on Monday amid early-hours losses in the futures market...Read More
Global oil prices bounced higher Monday after the U.S. State Department granted a waiver to China to purchase crude from Iran as the first day of sanctions imposed by President Donald Trump came into effect. U.S. Secretary of State Mike Pompeo called the sanctions "the toughest sanctions ever put in place on the Islamic Republic of Iran", but his department noted Friday that waivers had bee...Read More
Japanese plate export prices are expected to remain stable in the face of tight supply in Asia, a source at a major steel producer in Japan told Fastmarkets MB."Plate supply in Asia remains tight and is expected to be so going into 2019 despite other flat steel markets such as hot-rolled coil being comparatively weak," the source, who has knowledge of the mill's latest pricing decisions, said last...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Monday November 5, topped by a continued downturn in lead's three-month price while aluminium was the only metal to trade in positive territory.Despite reaching an intraday high of $2,002.50 per tonne, the three-month lead price closed nearer to its October low of $1,915 per tonne, with last week's...Read More
CIS billet suppliers have finally seen an improvement in buying activity outside Southeast Asia, where they have been concentrating their efforts recently due to the weak demand in the Middle East-North Africa (Mena) region.In early November, Turkish customers resumed billet imports after several months of silence, because of high import prices for scrap.On Friday November 2, Fastmarkets' daily in...Read More
Turkish steel mills were quiet in the scrap import market at the beginning of the week, with prices remaining firm, sources said on Monday November 5.After booking a number of cargoes in the past week, Turkish steel producers paused their deep-sea purchasing activity on Monday.The most recent bookings put the price for HMS 1&2 (80:20) at $341 per tonne cfr for material from the United States.In th...Read More
Comex copper reversed lower to start the new week on Monday morning in the US, with a broad-based sell-off and political uncertainty keeping market participants on the sidelines.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 4.10 cents to $2.7720 per lb. On Friday, the contract touched a high of $2.8090 per lb, the highest level since Octobe...Read More
The latest news and price moves to start the Asian day on Tuesday November 6.Base metal prices on the London Metal Exchange were predominantly lower at the close of trading on Monday November 5, topped by a continued downturn in lead's three-month price while aluminium was the only metal to trade in positive territory. Read more in our live futures report.Here are how prices looked at the close of...Read More
The latest metal markets news and price moves to start the North American day on Monday November 5.Base metals on the London Metal Exchange were mostly lower during morning trading, pressured by escalating tensions between the United States and China while key global stock markets followed lower.Here's how base metals prices looked at 11:45am London time:Read our live futures report here. UC Rusal...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday November 5.Most base metals prices on the Shanghai Futures Exchange fell during Asian trading hours on Monday November 5, as buoyant hopes last week over a possible resolution to the ongoing trade war between the United States and China were punctured by White House economic adviser Lar...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Monday November 5, topped by a continued downturn in lead's three-month price while aluminium was the only metal to trade in positive territory.Despite reaching an intraday high of $2,002.50 per tonne, the three-month lead price closed nearer to its October low of $1,915 per tonne, with last week's...Read More
Comex copper reversed lower to start the new week on Monday morning in the US, with a broad-based sell-off and political uncertainty keeping market participants on the sidelines.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 4.10 cents to $2.7720 per lb. On Friday, the contract touched a high of $2.8090 per lb, the highest level since Octobe...Read More
Seaborne iron ore prices strengthened on Monday November 5 amid fears of supply disruptions in Australia.MB 62% Fe Iron Ore Index: $75.74 per tonne cfr Qingdao, up $1.77 per tonne.MB 62% Fe Pilbara Blend Fines Index: $74.77 per tonne cfr Qingdao, up $1.77 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.30 per tonne cfr Qingdao, up $2.34 per tonne.MB 58% Fe Premium Index: $66.92 per tonne cfr Q...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
* U.S. re-imposes sanctions on Iran's oil, banking sectors* Washington grants oil waivers to eight countries* Top Iranian oil buyers temporarily exempted* Oil prices turn negative after earlier gains* Trump says does not want a spike in oil prices (Updates with Trump comments, analyst quote)By Humeyra Pamuk and Timothy GardnerWASHINGTON, Nov 5 (Reuters) - The United States snapped sanctions back i...Read More
* SBI posts profit after 3 qtrs of losses* One-time gain, lower provisioning help* SBI has complete control of "demon" of NPA - chairman* Exposure to IL&FS not cause of concern to SBI as of now - chairman* SBI shares post 2-mth closing high (Adds chairman comments, details on one-time gain)By Chris Thomas and Abhirup RoyBENGALURU/MUMBAI, Nov 5 (Reuters) - State Bank of India (SBI)...Read More
Nov 5 (Reuters) - State-run gas utility GAIL (India) Ltd GAIL.NS posted a 50 percent jump in second-quarter profit on Monday, boosted by higher revenue from its natural gas marketing business.Profit came in at 19.63 billion rupees ($268.86 million) for the three months ended Sept. 30, compared with 13.10 billion rupees a year earlier, the company said https:// on average had expected a profit of...Read More
* U.S. bond yields slip before massive supply this week* Sterling up on Brexit deal hopes* Crude up as Iran sanctions kick in (Updates prices, changes comment, dateline from previous LONDON)By Rodrigo CamposNEW YORK, Nov 5 (Reuters) - An index of stocks on major markets were flat on Monday, following four days of a bounce-back from a 14-month low, ahead of a key vote to define the power balance in...Read More
Investing.com - Gold prices were little changed on Monday as traders braced for the U.S. mid-term elections and the Federal Reserve’s November meeting due later this week.At 9:18 AM ET (14:18 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange slipped 30 cents, or 0.02%, to $1,230.70 a troy ounce.Voters on Tuesday will decide key races in Congre...Read More
Suppliers of long steel products in the European Union have been raising their offer prices for November deals in anticipation of strong demand and high manufacturing costs, Fastmarkets was told on Monday November 5.But the recent political uncertainty that has enveloped all the world's major markets was keeping customers quiet for now, and content to keep their buying activities confined to the s...Read More