Import prices for steel billet and rebar in the United Arab Emirates increased over the past week, with domestic rebar prices remaining stable, market sources said on Tuesday October 22.Domestic prices for rebar for the month were announced by the country's producers on October 21. Both Emirates Steel and Conares Steel kept their prices unchanged.Billet importsBillet bookings were made from Oman a...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday October 22 that are worth another look.Anglo American has raised the 2019 iron ore production guidance for its Minas Rio operations in Brazil while maintaining the one for its Kumba operations in South Africa.Europe's largest copper producer, Aurubis, has announced its annual copper cathode premium for 2020 at $96 per tonne, unc...Read More
Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More
The benchmark London Metal Exchange cash/three-month spread is once more trading in a contango of around $20 per tonne on Tuesday October 22 following a period of deep and sustained backwardation up until yesterday when the spread was in a $108 per tonne backwardation. The LME cash/three-month nickel spread has traded in an intermittent backwardation since January 2019. It slipped into a $39 per t...Read More
Seaborne iron ore prices increased on Tuesday October 22 after Vale lowered its sales expectation, while the spread between 65% and 62% Fe indices continued to widen.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.68 per tonne, up $1.28 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.33 per tonne, up $1.28 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.27 per tonne, up $1.0...Read More
A wide spread of offers emerged in the seaborne coking coal market on Tuesday October 22, though these did not translate into transactions.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.40 per tonne, up $0.63 per tonnePremium hard coking coal, cfr Jingtang: $164.70 per tonne, down $0.06 per tonneHard coking coal, fob DBCT: $129.92 per tonne, unchangedHard coking coal, cfr Jingtang: $1...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia fell this week on limited demand, sources told Fastmarkets on Tuesday October 22.Buyers were reluctant to book large tonnages because of the falling prices as well as the weak end-user demand, they said.UAEOffer prices for hot-rolled coil (HRC) from China were heard in the UAE at $440-445 per tonne cfr this week, with offer...Read More
Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday October 22 that are worth another look.Anglo American has raised the 2019 iron ore production guidance for its Minas Rio operations in Brazil while maintaining the one for its Kumba operations in South Africa.Europe's largest copper producer, Aurubis, has announced its annual copper cathode premium for 2020 at $96 per tonne, unc...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 22.Please click...Read More
Fastmarkets incorrectly published its monthly calculations of the Shanghai aluminium premiums on Tuesday October 22, due to a scheduling error.Following a market consultation, Fastmarkets reduced the frequency of publication of a number of base metals price assessments in July, and changed the schedule for the Shanghai aluminium premiums so they are published on a monthly basis.As a result, Fastma...Read More
Three people have been killed in an incident at Russian multi-metal miner Nornickel's Siberian Taimyr mine on Tuesday October 22, the company has announced.According to sources at the company, which is Russia's largest miner and the second-largest global nickel producer, three workers were found dead at 16.30 local time at the company's Siberian site.The particulars surrounding the accident...Read More
Europe's largest copper producer, Aurubis, has announced its annual copper cathode premium for 2020 at $96 per tonne, unchanged from last year's level, the company confirmed to Fastmarkets on Tuesday October 22. Aurubis spokesperson Malte Blomback confirmed the annual premium to Fastmarkets this afternoon, while market participants also suggested that the company would begin contractual negotiatio...Read More
China will become a net exporter of refined lead in 2020 as a result of higher forecasted production and unimproved domestic consumption next year, a senior analyst said at the 2019 Lead & Zinc Week gathering in Kunming, China, on Thursday October 17. Chinese lead smelters are likely to increase production to take advantage of good profits for lead smelting due to higher treatment charges (TCs) fo...Read More
CIS rebar and wire rod producers increased offers for foreign customers in the second half of October following the recovery of scrap and billet prices globally.But buying activity remained limited as customers waited to see more evidence of market stabilization and improvement of demand from end-users.Early last week, offers for Russian wire rod were reported at $425 per tonne fob Black Sea, with...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell during the week to Tuesday October 22 on weak demand in the export market and aggressive pricing strategies adopted by suppliers in other regions, market sources said.Despite facing stiff competition for export sales, Chinese producers are reluctant to slash prices much further because of stable prices in the domestic m...Read More
China's domestic prices for rebar held steady for a second day on Tuesday October 22 despite gains in the futures market, with participants taking a wait-and-see approach before deciding whether to engage in arbitrage trading.Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedRebar futures went from a low of 3,28...Read More
Chinese mills lowered export offers for hot-rolled coil on Tuesday October 22 despite a stable domestic market amid pressure from cheaper products offered by suppliers in other regions.DomesticEastern China (Shanghai): 3,500-3,510 yuan ($495-496) per tonne, unchangedNorthern China (Tangshan): 3,480 yuan per tonne, unchangedTrading was moderate during the day maid steady demand, which kept spot pri...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, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products. Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More