Domestic Indian prices for steel billet fell this week by at least 400 rupees ($6) per tonne, with demand for semi-finished products remaining weak on account of subdued sales of finished products such as rebar.Indian domestic secondary billets, mainly produced by the induction process, ended the week priced at 33,000-33,200 rupees ($459-462) per tonne ex-mill on Friday November 16. This was down...Read More

The import price for steel billet in Southeast Asia fell on Friday November 16 after suppliers offered cheaper cargoes, while negative sentiment intensified on China's possible return to the export market.Fastmarkets' daily price assessment for billet imported into Southeast Asia was $495-502 per tonne cfr Manila on Friday, widening downward by $5 per tonne from $500-502 per tonne cfr the previous...Read More

The European stainless steel market was stable this week, but with prices remaining depressed because of competition among sellers, Fastmarkets heard on Friday November 16.Imported material continued to arrive from Asia and combined with domestic materials to give consumers a glut of purchasing options.But although it remains a buyers' market, prices have not moved any lower...Read More

Fastmarkets MB presents the key things we learned when the ferro-alloys community gathered for a busy week of meetings and contract negotiations in Lisbon at the 34th International Ferro-alloys Conference on November 11-13. The global vanadium deficit will continue: Ferro-vanadium and vanadium pentoxide prices sit at or near historic highs due to significant global supply concerns, and market part...Read More

SHANGHAI, Nov 16 (Reuters) - Heavy corporate dollar demanddragged the Chinese yuan lower against the greenback on Friday,but it was still on course for a winning week on news thatWashington and Beijing were talking again about resolving theirbitter trade dispute.But while market sentiment has improved on the reports, theyuan's gains were capped by caution over whether either side wasnow more willi...Read More

(Adds details, foreign investment relaxation)By Gayatri SuroyoJAKARTA, Nov 16 (Reuters) - Indonesia's government istightening requirements to force companies to repatriate revenuefrom the export of natural resources, a minister said on Friday,as authorities seek to support a fragile rupiah currency.Special accounts will be created for exporters to depositexport revenue at local banks to allow for...Read More

* Spot gold may edge up to $1,223/oz - Technicals * Palladium up over 3 pct for the week so far (Adds comment, updates prices)By Eileen SorengBENGALURU, Nov 16 (Reuters) - Gold prices rose on Friday,having hit a one-week high earlier in the session, as investorssought safe-haven assets amid fears of a chaotic departure forBritain from the European Union.UK Prime Minister Theresa May's draft Brexit...Read More

Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday November 16.Raw MaterialsThe Singapore Exchange will launch high-grade iron ore derivatives settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB in the first week of December.Asia ferrous scrap prices are still falling due to weak demand from steel mills and ample sup...Read More

Pig iron exporters in the south of Brazil have sold out of material for shipment this year and have increased their offer prices for material for January deliveries."Sales last week have taken up material availability from suppliers in the south. That is why they have tried to increase their offers," one trader told Fastmarkets.Last week, several deals were done at $346-348 per tonne fob. This wee...Read More

Buyers avoided making new deals in the United States pig iron market during the week ended Friday November 16 because they had restocked earlier in the month, Fastmarkets was told.Fastmarkets' price assessment for US imports of pig iron remained unchanged at $370-385 per tonne cfr on November 16.Numerous deals for pig iron for December deliveries to the US were done with the Commonwealth of Indepe...Read More

Brazilian slab export prices were almost unchanged during the week ended Friday November 16 because of low activity, but producers and traders expected a recovery in the next few months because of planned stoppages and growth in demand.Fastmarkets' assessment of the Brazilian slab export price was $505-515 per tonne fob in Brazil on November 16, widening downward from $510-515 per tonne fob the we...Read More

Global ferrous scrap prices surrendered to the downward pressure created by weak mill demand and tepid finished steel sales during the working week from Monday November 12 to Friday November 16, with the exception of those in India.Turkish import scrap prices fell, with only four cargo bookings made during the week. Import prices in Taiwan and Vietnam also continued to trend downward. India's impo...Read More

The latest metal markets news and price moves to start the North American day on Friday November 16. Base metals on the London Metal Exchange had a mixed start during morning trading on Friday November 16, with investor sentiment improving amid easing US-China trade tensions and a slight downturn in the US dollar index.Both lead and nickel futures were the biggest climbers over the morning, apprec...Read More

Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday November 16.Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Friday, with zinc, copper and tin registering gains while the rest of the complex weakened.Check Fastmarket MB's live futures report here. The availability of copper scrap units in...Read More

Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsAntofagasta aims to increase copper capacity by 70,000 tonnes per year via a rebuild of its Los Pelambres mine in Chile at a cost of $1.3 billion, the Chilean copper producer said.The US Beer Institute has called on the United States government to scrutinize aluminium price...Read More

Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday November 16.Raw MaterialsThe Singapore Exchange will launch high-grade iron ore derivatives settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB in the first week of December.Asia ferrous scrap prices are still falling due to weak demand from steel mills and ample sup...Read More

Base metals futures on the London Metal Exchange rebounded at the close of trading on Friday November 16, led by a strong performance in the three-month lead price while a marked downturn in the US dollar index prompted follow-up buying. Trading for a time above $2,000 per tonne, the three-month lead price posted significant gains amid total LME lead stocks and remained at its lowest level since 2...Read More

Chile's Copper Commission, or Cochilco, has lowered its copper price estimates for 2018 and 2019, while expecting an increase in prices for 2020, the state-run board said on Thursday November 15.In its quarterly report on the copper market, average copper prices should be $2.97 (297 cents) per lb this year, according to Cochilco, down from a previous $3 per lb forecast in July. The commission expe...Read More

Base metals on the London Metal Exchange had a mixed start in morning trading on Friday November 16, with investor sentiment improving amid easing US-China trade tensions and a slight downturn in the US dollar index.Both lead and nickel futures were the biggest climbers over the morning, appreciating more than 1% respectively amid depleting LME stocks and strong demand from the electric vehicle an...Read More

* Prices down for 6th week; Brent off 4.6 pct, U.S. crude 5.6 pct* OPEC could cut supply by 1.4 mln bpd to prevent glut* Russia resisting calls to join renewed cuts* GRAPHIC-U.S. oil output and storage: https://tmsnrt.rs/2PXBD8e* U.S. weekly rig count rises by two this week (Adds settlement prices, CFTC data)By Jessica Resnick-AultNEW YORK, Nov 16 (Reuters) - Oil ended slightly firmer after volati...Read More