More than 200,000 tonnes of aluminium have been delivered into London Metal Exchange warehouses in Asia over the past week, pushing LME on-warrant stock levels back above 1 million tonnes.Despite the large deliveries inward, including 92,875 tonnes on Monday November 18, the backwardation in the LME's December-to-January spread remained.Total on-warrant LME aluminium stocks were now 1,009,700 tonn...Read More
Industry figures at the International Ferro-alloys conference in Budapest this week will be discussing future developments in the manganese markets after a dramatic turn in the manganese flake price over the past year; Fastmarkets looks at the key reasons behind the slump. The manganese 99.7% electrolytic manganese flake, in-whs Rotterdam price fell to $1,610-1,670 per tonne on November 8, down by...Read More
The three-month lead price on the London Metal Exchange was lower at the close of trading on Monday November 18, with the price settling below the $2,000 per tonne support level for the first time since September, while continued inflows pushed aluminium futures lower.Lead's outright price closed at $1,953.50 per tonne in the afternoon, its lowest close since August 2, while turnover was at its hi...Read More
More than 200,000 tonnes of aluminium have been delivered into London Metal Exchange warehouses in Asia over the past week, pushing LME on-warrant stock levels back above 1 million tonnes.Despite the large deliveries inward, including 92,875 tonnes on Monday November 18, the backwardation in the LME's December-to-January spread remained.Total on-warrant LME aluminium stocks were now 1,009,700 tonn...Read More
Fastmarkets will host a free web seminar on Monday November 25 at 9:30am London time, to introduce the new Fastmarkets-settled London Metal Exchange cash-settled main Japanese ports (MJP) aluminium premium contract.The webinar will cover how Fastmarkets assesses its spot MJP aluminium premium, an insight into current market dynamics and how you can manage your risk with the new LME cash-settled co...Read More
More than 200,000 tonnes of aluminium have been delivered into London Metal Exchange warehouses in Asia over the past week, pushing LME on-warrant stock levels back above 1 million tonnes.Despite the large deliveries inward, including 92,875 tonnes on Monday November 18, the backwardation in the LME's December-to-January spread remained.Total on-warrant LME aluminium stocks were now 1,009,700 tonn...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 15. China Key drivers The antimony, MMTA standard grade II, ddp China price fell for the second consecutive week after some of the country's suppliers slashed offer prices further to secure business amid scant inquiries from consumers. Chinese antimony consumers either procured on a hand-to-mouth...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 18 that are worth another look.The outlook for the Asian hot-rolled coil market in the early part of 2020 is bullish, with prices for January-shipment materials already moving higher, an official at a leading Japanese steelmaker has told Fastmarkets.More than 200,000 tonnes of aluminium have been delivered into Lond...Read More
Fastmarkets will host a free web seminar on Monday November 25 at 9:30am London time, to introduce the new Fastmarkets-settled London Metal Exchange cash-settled main Japanese ports (MJP) aluminium premium contract.The webinar will cover how Fastmarkets assesses its spot MJP aluminium premium, an insight into current market dynamics and how you can manage your risk with the new LME cash-settled co...Read More
The three-month aluminium price on the London Metal Exchange was lower during morning trading on Monday November 18, with continuing inflows of material into LME-registered warehouses in Asia fueling selling pressure.The light metal was recently at $1,746 per tonne, down by around 0.65% from Friday's closing price of $1,755 per tonne. Turnover was moderately high for aluminium over the mornin...Read More
Base metals prices on the Shanghai Futures Exchange were down across the board during the morning trading session on Monday November 18, with nickel giving the worse performance of the complex while the metal's prices continue to correct following a strong run-up between June and September.The most-traded February nickel contract stood at 116,120 yuan ($16,566) per tonne as at 10.06am Shanghai tim...Read More
Turkey produced 27.973 million tonnes of crude steel in January-October 2019, down 10.6% from the corresponding period last year, the Turkish Steel Producers Association (T???oeD) said on Monday November 18.The drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel.The European Commission (EC) imposed definitive safeguard duties on imports o...Read More
More rebar producers in Egypt have increased their prices with effect from Sunday November 17, following the moves of other mills that announced higher prices last week, Fastmarkets has learnt.Egyptian rebar producer Garhy Steel is now offering rebar at E ?10,000 ($619) per tonne ex-works, up from the previous E ?9,600 per tonne ex-works, including 14% VAT.El Marakby Steel's rebar price is now E ?...Read More
Import prices for rebar sold into Singapore maintained their upward trend in over the past week amid China's strengthening market.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-435 per tonne on Monday November 18, up $5-10 per tonne from a week earlier.Qatari r...Read More
Hot-rolled coil prices in Asia continued to gain last week, forcing buyers to restock after several months of hesitation. Fastmarkets' assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $443-445 per tonne cfr for the week ending Monday November 18, up $5-13 per tonne from a week earlier.India...Read More
China's hot-rolled coil prices regained more upward momentum on Monday November 18 on a drop in supply.DomesticEastern China (Shanghai): 3,610-3,630 yuan ($515-518) per tonne, up 20-30 yuan per tonneNorthern China (Tangshan): 3,570 yuan per tonne, up 10 yuan per tonneTrading activity in both northern and eastern China remained robust during the day, with buyers still restocking amid short supply,...Read More
Domestic auto bundle scrap prices in Turkey have increased in line with rising imported scrap values, with local ship scrap prices expected to follow soon, sources said on Monday November 18.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,455-1,640 Turkish lira ($253-286) per tonne on Monday, up from 1,455-1,560 lira per tonne last week.Th...Read More
Seaborne iron ore prices were rangebound on Monday November 18, as market participants awaited the official announcement for the winter heating season restrictions in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $85.77 per tonne, up $0.73 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $85.80 per tonne, up $0.73 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.20 per tonne,...Read More
The seaborne coking coal market was quiet on Monday November 18 with participants awaiting the emergence of fresh bids and offers.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.72 per tonne, down $0.09 per tonnePremium hard coking coal, cfr Jingtang: $147.82 per tonne, unchangedHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang: $131.50 per tonne, u...Read More
China's domestic rebar prices increased further on Monday November 18 amid low inventories, though participants were less optimistic about the market due to softening demand. Eastern China (Shanghai): 3,940-3,970 yuan ($562-566) per tonne, up 70-80 yuan per tonne Northern China (Beijing): 3,720-3,750 yuan per tonne, up 20-30 yuan per tonneLow stock levels in the spot market continued to provide up...Read More