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GLOBAL MANGANESE WRAP: Low-grade ore prices rise after November offers dry up; European market weakens

November 07, 2018 / www.metalbulletin.com

Low-grade manganese ore prices got a boost in the week ended Friday November 2 after buyers were caught between the end of November's offers and the start of December's. Low-grade manganese ore prices rise in China amid a lack of offersHigh-grade manganese ore index slidesChinese manganese alloy prices largely steadySilico-manganese quotation drops in EuropeUS alloy price holds in quiet marketLow...Read More

GLOBAL CHROME WRAP: Ore, alloy prices drop in Europe, Asia on weakening sentiment

November 07, 2018 / www.metalbulletin.com

Chrome ore and alloy prices dropped in China last week after tender price cuts for November continued to weigh on sentiment, while the US high-carbon ferro-chrome price halted recent declines on an uptick in inquiries. Chinese markets still reacting negatively to lower November tendersAlloy prices hold in JapanSouth Korean alloy prices inch lowerEuropean price drop on plentiful Indian supply ...Read More

Chinese bismuth producers could cut production on tight margins, falling prices - sources

November 07, 2018 / www.metalbulletin.com

Some Chinese bismuth producers are likely to cut production on squeezed profit margins, market participants told Fastmarkets, adding that it is hard to forecast the resultant impact on spot prices in the near term. Domestic Chinese bismuth prices have fallen from highs of this year of 71,000-72,000 yuan ($10,303-10,448) per tonne in February and have been mostly under pressure so far in 2018, acco...Read More

DAILY SCRAP REPORT: European cargo raises prices $5 per tonne

November 07, 2018 / www.metalbulletin.com

The Turkish steel mills have resumed their deep-sea scrap purchases for December deliveries with prices remaining strong in the latest transaction, sources said on Tuesday November 6.A steel mill in the Marmara region booked a European cargo late on November 5, comprising 20,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and plate and structural sc...Read More

Stocks Drift Lower Ahead of US Midterm Elections; Dollar, Yields Edge Higher - TheStreet

November 07, 2018 / www.thestreet.com

The Tuesday Market Minute Global stocks steady on the final day of trading before U.S. midterm elections, with a stronger U.S. dollar and modestly higher interest rates holding down gains.Asia stocks gain, despite weaker tech stocks following last night's Apple sell-off, with Japan posting a solid 1.1% advance while China shares slipped modestly into the red.Oil prices continue to slide, ex...Read More

LIVE FUTURES REPORT 06/11: Comex copper price inches higher on dollar softness

November 07, 2018 / www.metalbulletin.com

The Comex copper price staged a modest recovery in the US morning on Tuesday November 6 amid a softening dollar and speculative buying. The copper price for December settlement on the Comex division of the New York Mercantile Exchange recovered 0.35 cents to $2.7595 per lb. Industrial metal markets continue to look at the trade dispute between the United States and...Read More

Australia's Altura makes first two lithium sprodumene shipments to China

November 07, 2018 / www.metalbulletin.com

Australian lithium spodumene producer Altura Mining shipped about 10,000 tonnes of lithium spodumene from Port Hedland in Western Australia to China in October 2018, the company has said.Altura announced on October 31 that it had despatched two cargoes each of around 5,000 tonnes of lithium spodumene to China, on October 9 and October 20. The material came from the company's Pilgangoora lithium mi...Read More

Neometals' lithium spodumene production up slightly in Q3 2018

November 07, 2018 / www.metalbulletin.com

Australian lithium spodumene miner Neometals reported that it had achieved slightly higher production volumes in the July-September quarter in a results statement published on Wednesday October 31.Neometals increased its output by about 1.68%, producing 111,023 tonnes of lithium spodumene in the quarter, compared with 109,183 tonnes produced in April-June.Output of higher-grade lithium spodumene (...Read More

Tawana lithium spodumene production up by 63% in Q3 2018

November 07, 2018 / www.metalbulletin.com

Lithium spodumene miner Tawana Resources reported a quarter-on-quarter production increase of 63% from operations at Bald Hill in Western Australia in July-September this year, in a results statement for the third quarter published on Wednesday October 31.The Australian miner produced 28,419 tonnes of lithium spodumene in the quarter ended on September 30, compared with 17,403 tonnes in the previo...Read More

RUSSIA FLAT STEEL: Prices decline as demand falls back

November 07, 2018 / www.metalbulletin.com

Prices for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow have decreased over the past week, reflecting a slowdown in demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was 40,000-40,500 roubles ($604-612) per tonne cpt Moscow on Tuesday November 6, including 18% VAT. This was down from 41,000-41...Read More

GULF FLAT STEEL IMPORTS: Prices mostly stable, demand remains weak

November 07, 2018 / www.metalbulletin.com

Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly stable over the past week, with demand remaining limited, sources told Fastmarkets on Tuesday November 6.UAE Hot-rolled coil from Russia was on offer to the UAE at $560-565 per tonne cfr, with one buyer bidding $550 per tonne cfr. Chinese HRC was on offer at $580 per tonne cfr.But buyers were not willing to book mate...Read More

CHINA HRC: Prices fall on 'smaller-than-expected' capacity cut

November 07, 2018 / www.metalbulletin.com

China's hot-rolled coil prices fell on Tuesday November 6 after investor sentiment was dampened by Tangshan's "smaller-than-expected" capacity cuts, with trading sparse both domestically and in the export market.DomesticEastern China (Shanghai): 4,020-4,040 yuan ($581-584) per tonne, widening downward 10 yuan per tonneNorthern China (Tianjin): 4,000-4,010 yuan per tonne, down 30 yuan per tonneSell...Read More

GULF STEEL BILLET, REBAR: Prices dip on lower offers

November 07, 2018 / www.metalbulletin.com

The price of rebar imported into the United Arab Emirates fell in the week to Tuesday November 6, on continuing limited demand.The billet import market was also slow because mills in the UAE have enough billet in stock to last for more than two months, sources told Fastmarkets.Domestic rebarLocal producers were still offering rebar at 2,016 dirhams ($549) per tonne ex-works this week.And Fastmarke...Read More

Long Steel Products Trade Log, November 6, 2018

November 07, 2018 / www.metalbulletin.com

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transactions: rebarRebar Saudi Arabia, export, rebar, offered at $540 per tonne cfr on theoretical weight basis, to the UAE....Read More

CHINA REBAR: Domestic prices down on plunge in futures

November 07, 2018 / www.metalbulletin.com

China's domestic rebar prices kept their downward trend on Tuesday November 6 following the sharp decrease in futures. Domestic Eastern China (Shanghai): 4,590-4,640 yuan ($663-671) per tonne, down 20-40 yuan per tonneNorthern China (Beijing): 4,420-4,460 yuan per tonne, down 20-30 yuan per tonneRebar futures dropped sharply in early trading hours on Tuesday after the steelmaking hub of Tangshan r...Read More

DAILY SCRAP REPORT: European cargo raises prices $5 per tonne

November 07, 2018 / www.metalbulletin.com

The Turkish steel mills have resumed their deep-sea scrap purchases for December deliveries with prices remaining strong in the latest transaction, sources said on Tuesday November 6.A steel mill in the Marmara region booked a European cargo late on November 5, comprising 20,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and plate and structural sc...Read More

The 2018 Midterms Could Kill the American Moderate for Good

November 07, 2018 / marketsanity.com

Voters may identify with moderation for a number of reasons: pragmatic, ideological or otherwise. It has even been suggested that individuals vote for Continue...Read More

Port Hedland iron ore shipments shrink in October, prices rise

November 07, 2018 / www.metalbulletin.com

Iron ore exports from Western Australia's Port Hedland fell year on year and month on month in October, leading to tighter supplies of Australian material in the seaborne market and pushing prices above $75 per tonne cfr China.The port shipped 40.18 million tonnes of the steelmaking raw material last month, down by 2% from October 2017, according to data released by the Pilbara Ports Authority on...Read More

Corporate profits are reaching their peak and history shows that's bad news for the stock market

November 07, 2018 / marketsanity.com

Corporate earnings have been exceptionaly strong but that may soon end, and history suggests a bumpy road ahead for the stock market.Continue...Read More

China AM: Futures down amid smaller winter restrictions

November 07, 2018 / www.metalbulletin.com

China's ferrous futures tanked after morning open on Tuesday November 6, with losses narrowed later for contracts except rebar, amid stronger expectations that the country's winter steelmaking restrictions would be lighter than those a year earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,973 yuan ($575) per tonne, down 79 yuan per tonne January hot-rolle...Read More

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