Total zinc stocks on the London Metal Exchange were at a 10-year low on Thursday November 1, prompting one of the metal's widest cash/three-month spread backwardations to date.Despite mixed market sentiment, however, the increasing tightness in zinc availability could boil down to supply flows.Zinc's cash/three-month spread ballooned to $63 per tonne on October 23 this year from $15 per tonne on O...Read More

The latest metal markets news and price moves to start the North American day on Thursday November 1.Base metals on the London Metal Exchange were collectively higher during morning trading on Thursday November 1, with most metals recovering from Wednesday's dip amid a softer US dollar index and a continued drawdown in LME inventories.Pushing back above $11,500 per tonne, the three-month nickel pr...Read More

The arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday November 1.*Copper -$116.03 (-809.22 yuan) Aluminium -$440.16 (-3,069.85 yuan) Zinc -$27.18 (-189.57 yuan) Nickel $671.76 (4,685.1 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More

Base metals on the London Metal Exchange were collectively higher during morning trading on Thursday November 1, with most metals recovering from Wednesday's dip amid a softer US dollar index and a continued drawdown in LME inventories. Pushing back above $11,500 per tonne, the three-month nickel price gathered support over the morning session, hitting an intraday high of $11,645 per tonne after f...Read More

ArcelorMittal reported a 41.8% year on year increase in its third-quarter earnings in a financial statement released on Thursday November 1, attributing the rise to higher steel prices.The company's quarterly earnings before interest, taxes, depreciation and amortization (Ebitda) increased to $2.7 billion in July-September 2018, up from $1.9 billion in the corresponding period of 2017."As expected...Read More

Turkey imported 27.06% less flat steel in September 2018 than it did in the corresponding month a year earlier, according to data released this week by the Turkish Statistical Institute (TUIK).The country imported 634,898 tonnes of such products, compared with 870,388 tonnes in September 2017, TUIK statistics showed.Demand for flat steel imports has been slow, especially so far in the second half...Read More

Turkish long steel export prices have remained stable over the past week on soft demand and despite the firm input costs, sources said on Thursday November 1.Fastmarkets' weekly price assessment for rebar exports out of Turkey was unchanged week on week on November 1 at $500-505 per tonne fob on an actual weight basis.The mills in the country were trying to keep their...Read More

Steel billet import prices in Egypt fell in the week to Thursday November 1, on continuing limited demand in the country. Fastmarkets' weekly price assessment for steel billet imported into Egypt was $477-480 per tonne cfr on Thursday, compared with $480-490 per tonne cfr last...Read More

ArcelorMittal Europe's third-quarter 2018 earnings inched up by 2.7% year on year due to higher steel prices, the company said on Thursday October 1.Earnings before interest, taxes, depreciation and amortization (Ebitda) at ArcelorMittal Europe increased to $871 million in July-September of 2018, slightly up from an Ebitda of $848 million in the corresponding period of 2017. The results increased,...Read More

World silico-manganese supply edged up to 1.47 million tonnes in September, with the largest monthly increase recorded in the Commonwealth of Independent States, according to the International Manganese Institute (IMnI). Production was up 2.7% from August and 7.4% year on year globally, while year-to-date production rose 25.3% year on year. Supply from the CIS reached 138,000 tonnes, up 9% from Au...Read More

Global manganese ore production rose by 1.4% month on month to 1.71 million tonnes of manganese units in September, driven by increased production in South Africa, but fell by 9% annually, according to the International Manganese Institute (IMnI). For the first nine months of the year, manganese ore output increased by 11.2% globally to feed demand from China. Supply from the Africa and Middle Eas...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreBHP, Global Ore, 90,000 tonnes of 62% Fe Newman fines, sold at the December average of a 62%...Read More

Ukrainian steelmaker Metinvest increased its output of sellable semi-finished products by 18% year on year, to 2.3 million tonnes over the first nine months of 2018, supported by favorable market conditions.In particular, Metinvest's sellable pig iron output increased by 21% year on year in January-September 2018, to 1.2 million tonnes against 989,000 tonnes.Fastmarkets' assessment for the CIS exp...Read More

Seaborne iron ore prices and premiums fell on Thursday November 1 following retreats in the futures market.MB 62% Fe Iron Ore Index: $75.25 per tonne cfr Qingdao, down $0.46 per tonne.MB 62% Fe Pilbara Blend Fines Index: $74.28 per tonne cfr Qingdao, down $0.46 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.16 per tonne cfr Qingdao, down $1.97 per tonne.MB 58% Fe Premium Index: $67.02 per ton...Read More

Seaborne coking coal spot prices were mostly unchanged on Thursday November 1 amid an inactive market.In China, spot prices for domestic coking coal from Shanxi to Tangshan increased by around 60-70 yuan ($8.60-10) per tonne, a coke plant source in Tangshan said."We saw that coming. We are now paying around 1,520 yuan per tonne for hard coking coal with 1.3% sulfur and around 1,840 yuan per tonne...Read More

China's ferrous futures were mixed during morning trading on Thursday November 1, with the hot-rolled coil contract trending downward during the session while the coking coal one went the opposite direction. The rebar, iron ore and coke contracts did not end too far from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,140 yuan ($594) per ton...Read More

Xcoal Energy & Resources has exported the first cargo of Baralaba low-vol pulverized coal injection (PCI) shipment from the Baralaba North mine in Queensland, Australia, it said on Wednesday October 31. The mine is on track to produce 250,000 tonnes of coal this quarter, with the first shipment sold to an end user in China, chief executive officer Ernie Thrasher said in a statement. The mine is ra...Read More

Benchmark international prices for cobalt stabilized last month, but salts and metal prices fell in China amid weak demand and falling local futures prices, triggering a physical sell-off.Price moves: Benchmark low-grade cobalt traded in the remarkably stable range of $33.50-34.45 per lb in October, where the assessment also ended the month. Tightness continued in the low-grade market, which takes...Read More

As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More

Good morning from Fastmarkets MB's offices in Asia, bringing the latest news and pricing stories on Thursday November 1. Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading, with the complex coming under pressure from weaker China data. China's weak manufacturing growth for October, with manufacturing PMI at 50.2 and non-manufacturing PMI...Read More