Iron ore market participants took caution on Wednesday November 21 amid volatility in paper markets and continued drops in steel prices.MB 62% Fe Iron Ore Index: $74.06 per tonne cfr Qingdao, down $0.59 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.25 per tonne cfr Qingdao, down $0.59 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.06 per tonne cfr Qingdao, down $1.16 per tonne.MB 58% Fe...Read More
China's ferrous futures increased during morning trading on Wednesday November 21, with sentiment improving, especially when it came to steel contracts.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,686 yuan ($531) per tonne, up 63 yuan per tonneJanuary hot-rolled coil: 3,583 yuan per tonne, up 76 yuan per tonneDalian Commodity Exchange January iron ore: 511 yu...Read More
China's rebar prices continued to experience sharp falls on Wednesday November 21 in both the domestic and export markets.Domestic Eastern China (Shanghai): 3,970-4,010 yuan ($572-577) per tonne, down 170-180 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, down 130-140 yuan per tonneThe price of billet plunged by 130 yuan per tonne late on Tuesday followed by another decline of...Read More
The European ferro-molybdenum market has dropped this week because of slow demand from consumers in the steel sector and from traders, sources told Fastmarkets on Wednesday November 21.Moreover, more price losses can be expected in the near term if consumer demand does not pick up, they added, while suppliers typically try to clear out most of their inventories ahead of the new calendar year.Fastm...Read More
Prices for hollow steel sections in Northern Europe remained unchanged this week, even as feedstock prices continued to fall, Fastmarkets heard on Wednesday November 21. Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?640-660 ($731-753) per tonne delivered on November 21, unchanged week on week.Although feedstock prices co...Read More
The European ferro-molybdenum market has dropped this week because of slow demand from consumers in the steel sector and from traders, sources told Fastmarkets on Wednesday November 21.Moreover, more price losses can be expected in the near term if consumer demand does not pick up, they added, while suppliers typically try to clear out most of their inventories ahead of the new calendar year.Fastm...Read More
Base metals price changes on the London Metal Exchange were mixed at the close of trading on Wednesday November 21, with positive moves in copper, lead and zinc futures contrary to the continued slide in nickel, while the complex remained broadly impervious to continued strength in the US dollar index.Lead futures improved amid a nine-year low in total LME inventory, rising by 2.2% over the day's...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The latest news and price moves to start the Asian day on Thursday November 22.Base metals price changes on the London Metal Exchange were mixed at the close of trading on...Read More
The latest metal markets news and price moves to start the North American day on Wednesday November 21.The latest metal markets news and price moves to start the North American day on Wednesday November 21.Base metals on the London Metal Exchange were all higher during morning trading, with risk-averse investors capitalizing on lower prices earlier in the week amid a slight downturn in the US doll...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 21.Base metal prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Wednesday amid a rise in risk-off sentiment stemming from weakness in global equity markets and a collapse in oil prices.Check Fastmarket MB's live futures report here. M...Read More
Base metals price changes on the London Metal Exchange were mixed at the close of trading on Wednesday November 21, with positive moves in copper, lead and zinc futures contrary to the continued slide in nickel, while the complex remained broadly impervious to continued strength in the US dollar index.Lead futures improved amid a nine-year low in total LME inventory, rising by 2.2% over the day's...Read More
The London Metal Exchange is planning to launch a lithium contract in the second half of 2019 to meet growing demand from the electric vehicle industry, Fastmarkets learned during Asia Copper Week in Shanghai. The contract, announced as part of the exchange's Strategic Pathway in September 2017, will be settled against an index price, with Fastmarkets MB's lithium spot price index one of those bei...Read More
Base metals on the London Metal Exchange were all higher during morning trading on Wednesday November 21, with risk-averse investors capitalizing on lower prices earlier in the week amid a slight downturn in the US dollar and continued uncertainty over US-China trade relations.Climbing just under 1% over the morning, copper's three-month price pushed back above $6,200 per tonne while volumes remai...Read More
SHANGHAI, Nov 21 (Reuters) - China's yuan was little changedagainst the dollar on Wednesday as corporate dollar sellingoffset the drag from a weaker official midpoint. Traders expect the yuan will be kept relatively steady aheadof a high-stakes meeting between U.S. President Donald Trump andChinese President Xi Jinping at the end of the month. Just a few weeks ago markets had hoped the meeting may...Read More
* U.S. crude stocks rise more than expected -EIA* Fearing a glut, OPEC pushes for supply curb* Trump praises Saudi Arabia for helping to lower oil prices (New throughout, updates prices, market activity and comments to settlement)By Stephanie KellyNEW YORK, Nov 21 (Reuters) - Oil prices rose about $1 a barrel a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government d...Read More
* NSE index down 0.53, BSE index down 0.77 pct* Nifty IT index end 2.8 pct lowerNov 21 (Reuters) - Indian shares ended lower on Wednesday in line with broader Asian markets, weighed down by a renewed bout of selling on Wall Street overnight that mounted uncertainty about global economic growth.The broader NSE index .NSEI closed 0.53 percent lower at 10,600.05, while the benchmark BSE index .BSESN...Read More
Investing.com - U.S. crude oil inventories rose more than expected last week, paring earlier price gains as the larger-than-forecast build reinforced concerns of oversupply.The EIA data showed that crude oil inventories increased by 4.85 million barrels in the week to Nov. 16.That was compared to forecasts for a stockpile build of 2.50 million barrels, after a build of 10.27 million barrels in the...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday November 21, while concerns over the import quotas imposed by the European Commission (EC) continued to grow.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($616-639) per tonne delivered on Wedne...Read More
The latest news and price moves to start the Asian day on Thursday November 22.Base metals price changes on the London Metal Exchange were mixed at the close of trading on...Read More