Copper hit a fresh seven-month high today on the London Metal Exchange on Tuesday December 4 while Chinese smelters were preparing for a meeting at which potential cuts to refined supply will be a talking point.Copper for three-month delivery on the LME peaked at $6,235 per tonne, its strongest since May 7, before closing at $6,215 per tonne, still up 0.4% from yesterday's 5pm close.Improved trade...Read More
Trading activity continued in the seaborne coking coal market on Christmas eve, with prices staying above $130 per tonne fob Australia basis for premium quality materials.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.13 per tonne, down $1.84 per tonnePremium hard coking coal, cfr Jingtang: $147.47 per tonne, unchangedHard coking coal, fob DBCT: $122.33 per tonne, uncha...Read More
China's hot-rolled coil exporters achieved higher prices on Tuesday December 24, bolstered by overseas buyers' willingness to pay more for material, even as weakness prevailed in the domestic market, sources said.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($556-558) per tonne, unchangedNorthern China (Tangshan): 3,630-3,640 yuan per tonne, down 10 yuan per tonneSpot prices in Shanghai were...Read More
Copper hit a fresh seven-month high today on the London Metal Exchange on Tuesday December 4 while Chinese smelters were preparing for a meeting at which potential cuts to refined supply will be a talking point.Copper for three-month delivery on the LME peaked at $6,235 per tonne, its strongest since May 7, before closing at $6,215 per tonne, still up 0.4% from yesterday's 5pm close.Improved trade...Read More
Key data from the pricing sessions in Asia, Europe and the United States for week ended Friday December 20. ChinaDomestic spot alloy prices remained static, with producers keeping quotations firm. Export prices held steady - while the yuan was strengthening, trading activity remained lackluster. Europe The European ferro-silicon spot price was steady over the week - no deals were reported am...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 24 that are worth another look.The recent downtrend in spot ferro-chrome prices in China was capped by strength in the domestic stainless steel market, while the European and US markets were flat ahead of the Christmas holiday break.Aluminium premiums in South Korea rose in the week ending Tuesday December 24, while the...Read More
Aluminium premiums in South Korea rose in the week ending Tuesday December 24, while the main Japanese ports (MJP) spot premium was steady following last week's increase. In South Korea, the aluminium P1020A premium, cif South Korea, and the aluminium P1020A premium, fca South Korea rose by $10-15 week on week to $85-90 per tonne and $100-105 per tonne respectively on Tuesday.Deals heard for Janua...Read More
Katanga Mining subsidiary Kamoto Copper Company (KCC) will buy land rights from La G?(C)n?(C)rale des Carri??res et des Mines (G?(C)camines) covering areas next to KCC's existing mining concessions. The rights cover the preferred location for the construction of a new long-term tailings facility, and other blocks that will help KCC to operate more efficiently and facilitate new infrastructure requ...Read More
Over the Christmas holiday period, Fastmarkets will continue to price physical base metal markets in accordance with our pricing schedule.Readers can view the pricing holidays and alternative pricing arrangements through the following link.Over this time, base metal premium and warrant premium tables will be published, but accompanying commentary wraps will not.If you have any queries please email...Read More
Aluminium was in the spotlight again during London Metal Exchange morning trading on Tuesday December 24, with 270,525 tonnes freshly canceled at LME sheds. Over 111,000 tonnes canceled today were in Port Klang, Malaysia with other cancellations in Johor, Gwangyang and Singapore. The large cancellation today comes on top of 107,125 tonnes canceled on Monday. The two days of cancellations means on-...Read More
There were no clear trends for base metals prices on the Shanghai Futures Exchange (SHFE) during the morning trading session on Tuesday December 24, with lead's 0.8% increase making it the best performer of the lot.The most-traded February lead contract ended the session at 14,920 yuan ($2,128) per tonne, up 125 yuan per tonne from Monday's close of 14,795 yuan per tonne. Other SHFE base metals pr...Read More
The hot-rolled steel sheet and rebar markets in Russia's Central Federal District around Moscow strengthened this week on higher prices from mills, even as demand remained seasonally subdued, sources told Fastmarkets on Monday December 23.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,500-40,000 roubles ($634-642) per tonne on December 23, inc...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week on higher offers although there were no bookings because buyers sought discounts before placing new orders, sources told Fastmarkets on Tuesday December 24. Suppliers raised their offers in response to increasing raw material costs. But buyers resisted the higher offers, saying the recent price rises have bee...Read More
Domestic and import prices for steel rebar in the United Arab Emirates increased slightly over the past week amid moderate demand, market sources said on Tuesday December 24.Market participants in the UAE believe the increases may continue if raw materials prices keep rising.Local rebar producers announced new prices on December 19.Billet importsBillet was offered at $450-470 per tonne cfr, but no...Read More
China's hot-rolled coil exporters achieved higher prices on Tuesday December 24, bolstered by overseas buyers' willingness to pay more for material, even as weakness prevailed in the domestic market, sources said.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($556-558) per tonne, unchangedNorthern China (Tangshan): 3,630-3,640 yuan per tonne, down 10 yuan per tonneSpot prices in Shanghai were...Read More
China's domestic rebar prices and futures dropped on Tuesday December 24 amid heightened expectations of some form of financial stimulus to be implemented by the Chinese government soon. Eastern China (Shanghai): 3,750-3,780 yuan ($535-539) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,500-3,530 yuan per tonne, down 20-30 yuan per tonneChinese Premier Li Keqiang said on Monday that...Read More
A Brazilian federal court has removed a major hurdle keeping mining major Vale from acquiring fellow miner Ferrous Resources.An injunction from a Brazilian court issued on November 8 blocked the acquisition and required Vale to provide proof that it would implement international environmental compliance standards. But the federal court nullified the injunction on December 5 fol...Read More
The Turkish deep-sea scrap import market was quiet on Tuesday December 24 due to the Christmas holiday period in Europe and the United States, market sources said.The most recent deep-sea cargo was booked on Friday December 20 at $303 per tonne cfr for HMS 1&2 (80:20) from the Baltic Sea region.Read More
Seaborne iron ore prices largely softened on Tuesday December 24 amid low buying interest, given cheaper alternatives in the port market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.03 per tonne, down $0.30 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.12 per tonne, down $0.30 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.39 per tonne, up $0.06 per tonne.58%...Read More
Trading activity continued in the seaborne coking coal market on Christmas eve, with prices staying above $130 per tonne fob Australia basis for premium quality materials.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.13 per tonne, down $1.84 per tonnePremium hard coking coal, cfr Jingtang: $147.47 per tonne, unchangedHard coking coal, fob DBCT: $122.33 per tonne, uncha...Read More