* For the week, Brent down 11.3 pct, WTI down 10.8 pct* China's Oct. gasoline exports lowest in 13 mths -customs* World oil supply expected to exceed demand in 2019* Oil price volatility spikes: https://tmsnrt.rs/2DBYUpH* Hedge funds cut net longs in Brent to lowest since 2015 (Updates with settlement prices, ICE (NYSE:ICE) commitment of traders data)By Jessica Resnick-AultBOSTON, Nov 23 (Reuters)...Read More

* Oil prices hit year low* Friday session ends at 1 p.m. ET (1800 GMT)* Rockwell Collins gains as UTX gets China's conditional nod* Indexes down: Dow 0.39 pct, S&P 0.41 pct, Nasdaq flat pct (Updates to open)By Medha SinghNov 23 (Reuters) - U.S. stocks fell on Friday as oil prices slipped to their lowest in more than a year, dragging down energy shares, while investors were nervous ahead of U.S...Read More

* Oil's plunge sends U.S. energy stocks tumbling* S&P 500 index confirms correction territory* Euro set for biggest weekly drop in a month on weak PMIs* European stocks rise as Italian markets rally* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Updates to close of U.S. markets, settlement of oil prices)By April JoynerNEW YORK, Nov 23 (Reuters) - Oil prices plunged on Friday on con...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

* Oil's plunge sends U.S. energy stocks tumbling* Euro set for biggest weekly drop in a month on weak PMIs* European stocks edge up as Italian markets rally* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Updates to U.S. market open, changes dateline; previous LONDON)By April JoynerNEW YORK, Nov 23 (Reuters) - Oil prices plunged on Friday on concerns about oversupply, sending world stoc...Read More

European austenitic alloy scrap prices were largely stable this week, although further losses are possible while the market's fundamentals remain weak. The exception was European import 18/8 stainless scrap solids, the price range for which slipped to ?,?930-950 ($1,060-1,083) per tonne cif, down by ?,?20 per tonne, according to Fastmarkets MB's assessmentDemand is poor, as it has been since Octob...Read More

European grade-304 stainless steel prices may never fully recover from their present slump because of the need to compete with low-cost production from Asia, particularly in Indonesia, a European trader said on Friday 23 November. The Tsingshan Group plant in Sulawesi, Indonesia, which has capacity of 1 million tonnes per year, mines its own nickel pig iron (NPI) and chromium, as well as having ca...Read More

Alumina traders in China have responded with skepticism to Qianhai Mercantile Exchange's (QME) plans to internationalize its yuan-denominated prices and list them on foreign exchanges such as Hong Kong Exchanges & Clearing Market (HKEX), Fastmarkets has learned. QME made its debut in October this year when it launched a spot domestic alumina price. But liquidity has been slow to build up and few a...Read More

An overview of the battery raw materials markets and their price moves from the past week. Read More

Europe's top copper smelter Aurubis is undecided as to whether it will follow the settlement made by miner Antofagasta and smelter Jiangxi Copper for copper concentrate treatment and refining charges, it said today."Whether the settlement is a benchmark for Aurubis is a big question mark," Christophe Koenig, Aurubis' senior vice president of commercial said by phone today November 23.Chile's Antof...Read More

The latest metal markets news and price moves to start the North American day on Friday November 23. The London Metal Exchange three-month nickel price hit a fresh 2018 low in morning trading, with the rest of the complex following lower. Here's how base metals prices look at 12:30pm London time:Read our live futures report here. "The underlying trend in the base...Read More

Base metals stocks on Shanghai Futures Exchange were mostly lower week on week on Friday November 23, with zinc leading the descent.Tin and lead stocks at SHFE-approved warehouses were both up more than 5%, however.Deliverable zinc stocks dropped by 4,223 tonnes or 10.6% from November 16 to 35,452 tonnes. This week R&S Logistics in Shanghai saw the most stock leaving its sheds - 1,826 tonnes of th...Read More

The London Metal Exchange three-month nickel price hit a fresh 2018 low in morning trading on Friday November 23, with the rest of the complex following lower. The three-month nickel price was at its lowest since the beginning of December this morning at $10,750 per tonne - down 32% from its year high of $15,845 per tonne on June 6.Nickel volume is the highest of the complex so far this morning wi...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday November 23 *Copper -$202.16 (-1,406.25 yuan) Aluminium -$425.15 (-2,957.40 yuan) Zinc -$144.50 (-1005.16 yuan) Nickel $759.71 (5,284.60 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More

Fastmarkets reviews the major stories that have affected the steel market during the week ended Friday November 23.Raw materialsThe price of pig iron exports from the Commonwealth of Independent States has fallen over the past seven days due to weak prices both for raw materials and for finished steel products.High-grade iron ore producer Carpentaria Resources sees a strong need for a high-grade i...Read More

Price increases for the steel supplied to carmakers in Brazil may exceed 20% in 2019 despite the downward price trend in China, the chief financial officer of Brazilian steelmaker Usiminas, Alberto Ono, said on Friday November 23 during an investor meeting.Steelmakers are discussing next year's contracts with the automotive industry and initially set rises of 25.00-27.50%. Companhia Sider??rgica N...Read More

The CIS export billet price dropped sharply on Friday November 23 after a Russian billet cargo was reported sold to Southeast Asia at a lower price than other recent deals.Fastmarkets' daily CIS billet index was $446 per tonne fob Black Sea on November 23, down by $7 per tonne day on day.Around 25,000 tonnes of billet from Russia's Abinsk Electic Steel Works was sold to traders to be resold to Sou...Read More

Domestic prices for coated steel coil products in Turkey were mostly stable in the week ended Friday November 23, with demand remaining limited.The local market has been slow for a long time and some market participants expected prices to fall further because of price falls on hot-rolled coil, the base product for coated coils.Prices had previously fallen slightly last week.Domestic pricesOne prod...Read More

Domestic and import prices for steel coil products in Turkey have decreased this week due to limited demand, sources told Fastmarkets on Friday November 23."Buyers are hesitant to buy because of weak end-user demand and expectations of further price falls," a source said.Fastmarkets' weekly price assessment for Turkish domestic hot-rolled coil (HRC) was $520-525 per tonne ex-works on November 23,...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, HDG, PPGIHot-rolled coilTurkey, domestic, hot-rolled coil, offered at $520-530 per tonne ex-works, late December-early January production.Russia, export, hot-rol...Read More