The latest news and price moves to start the Asian day on Wednesday October 24.Base metal prices on the London Metal Exchange were mixed at the close of trading on Tuesday October 23, with tin's strong performance leading gains across half of the complex despite a strong US dollar index and broadly risk-averse investors. Read more in our live futures report.Here are how prices looke...Read More
An overhang of secondary aluminium scrap in the United States has continued to weigh on some prices, with market participants skeptical that dynamics will change through the remainder of the year."The market is flush with scrap... buyers are able to pick and choose what they want. We're buying a little metal at a time and only buying what we need. This is not going to stop," one US consumer s...Read More
The US Midwest aluminium premium has fallen for the third assessment in a row, fueled largely by sellers trying to move metal ahead of a pricing backwardation on the London Metal Exchange expected to hit in December.Fastmarkets AMM's assessment of the spot duty-paid P1020 premium fell to 19-19.75 cents per lb on Tuesday October 23, down on the low end from the previous assessment of 19.25-19....Read More
Secondary aluminium alloy prices in the United States held their ranges on Monday October 22, but scrap spreads could imperil the stability of these prices with current supply contracts nearing their conclusion.A wide spread between the benchmark A380.1 and feedstock scrap aluminium looms over the secondary aluminium alloy market but has had surprisingly less of an impact on alloy pricing than it...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 23.Please click...Read More
Trafigura is to set up an integrated copper, zinc and lead smelting-refining complex via a joint venture in Saudi Arabia, the commodity trader said on Tuesday October 23. The multi-billion-dollar project in Ras Al-Khair Mineral City, named "SmeltCo," will be jointly developed and equally owned by Trafigura and Modern Mining Holding - an affiliate of...Read More
Domestic sales volumes of flat steel from distributors in Brazil went down by 2.80% year-on-year in September, with the market losing momentum, national flat steel distributors' association Inda said on Tuesday October 23.Flat steel sales totaled 257,900 tonnes during September, down from 265,400 tonnes in the corresponding month last year, according to Inda. Purchasing also fell by 7.20% year-on-...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 coilChina, export, hot-rolled coil, offered at $560-570 per tonne cfr, to Saudi Arabia.Russia, export, hot-rolled coil, traded at $560-565 per tonn...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletSaudi Arabia, export, billet,...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 $525-530 per tonne cfr, theoretical weight,...Read More
The Chilean national economic development agency, Corfo, which owns the lithium-rich Salar de Atacama, has opened a dispute with United States-based lithium producer Albemarle to seek an interpretation by the International Chamber of Commerce (ICC) of a contract between the two.The contract between Corfo and Albemarle was signed in April 2017. It says that Albemarle would have to sell as much as 2...Read More
The latest metal markets news and price moves to start the North American day on Tuesday October 23.Base metals prices on the London Metal Exchange were broadly lower during morning trading, hampered by broad risk-aversion amid a two-year low in European stock indices while a firm dollar index continues to limit price rallies.Here is...Read More
Weak demand from domestic and export markets pushed the Chinese ferro-silicon market down, while the European market for standard-grade ferro-silicon was unchanged for the fourth consecutive week on Friday October 19, with suppliers holding offer prices despite slow consumer demand. European market cements stability Chinese domestic demand weak, export market follows US market slips on soft...Read More
Low-grade manganese ore prices reversed some recent losses over the past week on steady demand. Low-grade manganese ore prices stage modest rebound High-grade manganese ore prices weaken slightly Chinese silico-manganese prices strengthenIndian, European alloy prices flatline SiMn prices edge lower in the United StatesLow-grade manganese ore prices clawed back some of the previous week's losses on...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday October 23.Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Tuesday amid a firmer dollar and ongoing trade tensions, with only tin prices recording significant gains. Check Fastmarket MB's live futures report here.Prices for China-ori...Read More
News of another Turkish deep-sea scrap cargo booking was reported to Fastmarkets' MB on Tuesday October 23, resulting in an increase to the Turkish scrap price.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising of 17,000 tonnes of HMS 1&2 (80:20) at $330 per tonne, 5,000 tonnes of shredded at $335 per tonne and...Read More
Australian iron ore prices firmed up on Tuesday October 23 supported by limited availability, while there were softer prices for Brazilian material.MB 62% Fe Iron Ore Index: $74.31 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.34 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.70 per tonne cfr Qingdao, down by $0.30 per...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. ...Read More
Seaborne coking coal prices remain underpinned amid concerns about supply in the domestic Chinese market, participants said.An accident at a coal mine in Shandong province in northeast China recently is expected to increase safety checks at mines, participants said."While the inspections are likely to affect mines producing semi-hard or similar quality materials, however, the sentiment is that suc...Read More
China's ferrous futures were mixed during morning trading on Tuesday October 23, with steel contracts ending the session slightly lower than their opening prices while those for coke and coking coal ended higher.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,150 yuan ($598) per tonne, down 11 yuan per tonneJanuary hot rolled coil: 3,877 yuan per tonne, down 18...Read More