Comex copper prices moved higher on Wednesday November 14 despite a stronger dollar due to growing optimism that a bilateral trade agreement between the United States and China could be reached in the next few months. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 1.25 cents to $2.6995 per lb. Markets have seen chaotic price movement in th...Read More

Three-month base metals prices on the London Metal Exchange were broadly weaker on the morning of Wednesday November 14, with the three-month copper price down by 0.1% at $6,040 per tonne. This after Tuesday's energetic start that saw the red metal reach $6,181 per tonne at one point. Three-month nickel, lead and zinc were down by 0.2%, 0.3% and 1% respectively on the LME this morning, while three...Read More

Optimism continued to grow among copper market participants in the United States over the outlook for the domestic copper cathode premium following a key industry meeting this past week, with many attendees predicting a higher premium for next year.Elsewhere, Shanghai copper premiums continued to soften while the Chinese market contends with a closed import arbitrage window, while a backwardation...Read More

Domestic prices for hot-rolled coil (HRC) are down over the past week in Southern Europe, sources told Fastmarkets on Wednesday November 14.The decrease was the result of slow trading and competitive import offers from Turkey, market participants said.Southern EuropeFastmarkets' domestic price assessment for HRC in Southern Europe was ?,?480-525 ($540-591) per tonne ex-works on November 14, down f...Read More

Gwen PrestonPosted Nov 14, 2018In a mixed metals market, one kind of discovery is generating outsized returns: high-grade gold in prolific regions.The Golden Triangle in northwest BC is one such region. From huge porphyries to world-class polymetallic systems to super high-grade gold deposits, the Golden Triangle has revealed a lot of metal over the years. And in recent years new roads and re...Read More

The gap between export offers and bids for hot-rolled coil in China narrowed on Wednesday November 14, raising expectations of the Chinese product finding favor among overseas buyers again.DomesticEastern China (Shanghai): 3,800-3,810 yuan ($546-547) per tonne, narrowing downward 10 yuan per tonneNorthern China (Tianjin): 3,840-3,850 yuan per tonne, up 10-20 yuan per tonneDomestic prices were larg...Read More

China's ferrous futures rose across the board during morning trading on Wednesday November 14, following the release of data showing higher-than-expected industrial output in October.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,926 yuan ($564) per tonne, up 57 yuan per tonneJanuary hot-rolled coil: 3,617 yuan per tonne, up 34 yuan per tonneDalian Commodity Ex...Read More

The latest news and price moves to start the Asian day on Thursday November 15.Base metal prices on the London Metal Exchange were predominantly higher at the close of trading on Wednesday November 14, boosted by a steady rebound in global benchmark crude oil futures and a marginal retreat in the United States' dollar index. Read more in our live futures report.Here are how prices looked at the cl...Read More

European prices for mesh-quality wire rod rose across the Northern and Southern parts of the continent on Wednesday November 14, with the volume available in the EU's import quota continuing to go down.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe narrowed upward to ?,?540-560 ($608-630) per tonne delivered on Wednesday, from ?,?535-5...Read More

The price for rebar produced and delivered in Southern Europe pushed slowly upward again on Wednesday November 14, with sellers offering higher prices due to high costs but consumers so far unwilling to commit to large-volume deals.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe narrowed upward to ?,?530-535 ($597-602) per tonne delivered on Wednesday, from ?,?520-535 pe...Read More

The Turkish steel mills continued their silence in the deep-sea scrap markets for another day on Wednesday November 14, because of a softening rebar market and increasing scrap supply in Europe, Fastmarkets was told.After booking two cargoes from the United States late last week, Turkish mills paused their purchases. Meanwhile, rebar prices have shown a downturn with news of recent sales at $506-5...Read More

Iron ore prices were mixed on Wednesday November 14 with supply tightness and higher premiums reported for December-arrival Pilbara Blend fines.MB 62% Fe Iron Ore Index: $75.91 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.71 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.25 per tonne cfr Qingdao, up $0.53 per tonne.MB 58% F...Read More

Vietnam, a major consumer of scrap in Asia, has purchased at least 30,000 tonnes of Japanese H2 materials this week.Deals involving at least two bulk shipments bound for southern Vietnam were heard concluded around $329-330 per tonne cfr Vietnam.This suggests that fob Japan prices have fallen further from last week's level of ?34,700-35,000 ($305-307) per tonne after a tender held by the Kanto Te...Read More

China's domestic rebar market maintained its downward trend on Wednesday November 14 despite rising futures. Domestic Eastern China (Shanghai): 4,390-4,430 yuan ($631-637) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 4,180-4,230 yuan per tonne, down 70 yuan per tonneAmid deteriorating air quality in northern China over the past couple of days, a few steel mills in the region have...Read More

Manganese ore prices are overheated compared with production costs and manganese alloy prices, making them prone to a decline next year, panelists said at Fastmarkets' 34th International Ferro-alloys conference in Lisbon this week. Manganese ore prices have trended higher since May this year. Fastmarkets MB's 44% manganese ore index was last calculated at $7.13 per dry metric tonne unit dmtu,...Read More

Today on TruNews, Gerald Celente, the founder of Trends Research Institute, joins the program to discuss how the world may be facing a new economic 9/11 through an explosion of global debt, rising oil prices, and a new world war. Gerald details why peace was a dirty word in the 2018 midterms, why the rise of nationalism in Europe means the beginning of the end of the EU, and how a new SWIFT financ...Read More

Special steelmaker Voestalpine attributed an 11% fall in its earnings for the first half of 2018 to continuing global trade conflicts, it said late last week.The Austrian company reported a decline of 11.2% in earnings before interest, taxes, depreciation and amortization (Ebitda) over April-September 2018, the first half of its financial year, to ?,?860 million ($969 million). This compared with...Read More

Vanadium prices will find a much higher base than their 2015 lows when they inevitably fall, due to a structural shift in the global vanadium market, according to Amy Bennett, principal consultant at Fastmarkets MB. "Ferro-vanadium will not stay above $100 per kg for eternity [and] at some point there will be less of a panic to get material," delegates heard at Fastmarkets' 34th International Ferr...Read More

Prices for hollow steel sections in Northern Europe were flat this week amid stable market conditions, Fastmarkets heard on Wednesday November 14.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?640-660 ($720-743) per tonne delivered on November 14, unchanged week on week.Last week, hollow section prices widened by ?,?10 pe...Read More

Turkish steel pipe export prices continued to weaken amid limited interest for the material in the country's major export markets, sources said on Wednesday November 14.Steel pipe producers in Turkey were offering 2mm wall thickness EN10219-standard, grade-S235 tube at around $600-610 per tonne fob, compared with last month's offers at $640-650 per tonne.Fastmarkets' monthly...Read More