The Turkish domestic rebar and wire rod markets have remained soft over the past week because of the low levels of demand, sources said on Thursday October 11.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,600-3,700 ($592-608) per tonne ex-works on Thursday, widening downward from last week's TRY3,650-3,700 per tonne, including 18% VAT.The country's domestic long steel...Read More
Turkish steel billet prices have gone down over the past week in line with the poor demand in the country's domestic and export markets, sources said on Thursday October 11.The suppliers in the Commonwealth of Independent States have lowered their offers to as low as $460 per tonne fob due to increases in supply. This would be equivalent to a price around $475 per tonne cfr Turkey."So many traders...Read More
Imported steel billet and rebar prices in Egypt decreased in the week to Thursday October 11, with demand in the country remaining weak.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $490-495 per tonne cfr on Thursday, falling from $495-500 per tonne cfr.CIS-origin...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletCIS, export,...Read More
Import prices for steel billet in Southeast Asia edged down on Thursday October 11 from the previous day, pressured by the region's sustained weakness in buying interest.Fastmarkets' daily assessment of the import price for billet in Southeast Asia was $510-515 per tonne cfr Manila on Thursday, narrowing down by $5 per tonne from $510-520 per tonne cfr on Wednesday.The assessment range had fallen...Read More
Trading activity was limited in the spot market on Thursday October 11, while the benchmark 62% Fe iron index rose slightly.Metal Bulletin 62% Fe Iron Ore Index: $71.30 per tonne cfr Qingdao, up by $0.16 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $70.33 per tonne cfr Qingdao, up by $0.16 per tonne.Metal Bulletin 62% Fe Iron Ore Index, Low Alumina: $76.30 per tonne cfr Qingdao, down...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 oreRio Tinto, Global Ore, 70,000 tonnes of 62.5% Fe...Read More
Seaborne coking coal prices spiked on Thursday October 11, with market participants citing a possible disruption at a coal mine in Mozambique behind the move. A cargo of premium hard coking coal traded at $216 per tonne, fob Australia, on the online trading platform Global Coal, according to various sources. A similar product changed hands $4-per-tonne lower a week earlier."We heard about some iss...Read More
Market participants have hailed Singapore Exchange's (SGX) decision to launch a high-grade iron ore derivative, basis Fastmarkets' daily 65% Fe iron ore price, saying it will serve the burgeoning need for better price risk management tools.The contract is targeted for launch in December, subject to regulatory approval, the exchange announced on Thursday October 11."The SGX's introduction of 65% fu...Read More
The Singapore Exchange (SGX) will launch a high-grade iron ore derivative product to be settled against the daily MB 65% Fe iron ore index published by Fastmarkets, the exchange said on Thursday October 11.The product is targeted for launch in December, subject to due regulatory process, the exchange added."The seaborne iron ore market has continued to 'financialize' and evolve since we cleared th...Read More
China's ferrous futures increased in the morning trading session on Thursday October 11.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,026 yuan ($581) per tonne, up 54 yuan per tonneJanuary hot-rolled coil: 3,884yuan per tonne, up 37 yuan per tonneDalian Commodity Exchange January iron ore: 513 yuan per tonne, up 7 yuan per tonneJanuary coking coal: 1,364 yuan...Read More
China's domestic rebar prices were flat on Thursday October 11, with demand remaining tepid.Domestic Eastern China (Shanghai): 4,540-4,580 yuan ($656-661) per tonne, unchangedNorthern China (Beijing): 4,340-4,370 yuan per tonne, unchangedBillet prices were flat and futures increased a mere 1 yuan per tonne, causing spot market traders to maintain their prices.Trading activity remain...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Thursday October 11.Base metals prices on the Shanghai Futures Exchange were mostly lower during Asian morning trading on Thursday October 11 amid concerns over the global macro-economic environment and dollar strength.Check Fastmarket MB's live futures report here. The price of silicon...Read More
Import prices for stainless steel in East Asia remained relatively steady over the past week amid sluggish trading as a result of China's National Day holiday, while participants observed Chinese offers edging up and Taiwanese offers on a downtrend.Fastmarkets MB's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,100-2,160 per tonne cif East Asian ports f...Read More
China's domestic stainless steel prices rose in the first three days of this week following higher nickel prices. Fastmarkets MB's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,800-16,100 yuan ($2,282-2,325) per tonne including VAT for the week ended Wednesday October 10, up 200 yuan per...Read More
Key data from the Wednesday October 10 pricing session in Asia.Key drivers: - Cheaper offers from the Middle East and Russia pushed Chinese exporters to lower their prices. - Japanese buyers lowered their purchasing prices as they can get cheaper material from other...Read More
Gold is suddenly back in favour and investors are wondering if the recent surge is the start of a new extended bull market.Let's take a look at the current situation and see if this is the time to buy Barrick Gold (TSX:ABX)(NYSE:ABX), the world's largest producer.Fear tradeGold is back in vogue, as investors dump high-flying stocks and rush into safe-haven alternatives. Gold's appeal as a place to...Read More
Three attractive industries; one somewhat bemused stock market: these are three of the riskiest ways to invest in the TSX index. Which do you hold positions in, and which have caught your eye lately?Legal Canadian potTo get behind a weed bears' tongue-in-cheek phrase, the pot-com bust is almost certainly about to happen - and very, very soon. As of October 17, disappointment with lower-than-expect...Read More
Core Exploration Ltd (ASX:CXO) has upgraded the JORC resource estimate for its 100% owned Napperby Uranium Deposit in the Northern Territory.The new estimate of 9.54 million tonnes at 382 ppm U3O8 for 8.03 million pounds of U3O8 is an increase in both grade and contained U3O8.Notably, the Napperby deposit also includes significant vanadium mineralisation of 9.54 million tonnes at 236 ppm vanadium...Read More