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
Fastmarkets proposes to change the publication time of the CIS export steel billet index, fob Black Sea ports, from 2pm to 4pm London time each day.The proposed change will allow the capture of a larger number of transactions during the day and therefore will help to increase the liquidity of the index.The deadline for data submissions to the CIS Billet Index will be changed from 1.30pm to 3p...Read More
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
Chinese ferro-silicon prices dropped in the week ended Friday November 2 due to slow buying interest and a weak yuan versus the dollar, while the European market also succumbed to quiet demand, causing suppliers to cut their offer prices to garner buying interest. Chinese market drops in line with demand Weaker yuan exacerbates downward trend European suppliers cut offer prices ...Read More
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
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
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
Chinese export prices for ferro-vanadium and vanadium pentoxide have held steady over the past week due to lackluster activity, with domestic prices remaining more favorable, while the European markets continued to gain strength on increased activity, closing the gap to the Chinese market. Chinese export prices stall amid favorable domestic market EU FeV prices up slightly on increased consumer ac...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 6.Please click...Read More
Base metals futures prices on the London Metal Exchange fell sightly on Tuesday November 6 while uncertainty continued about the outcome of the mid-term elections in the United States and that country's trade relations with China.On Tuesday, three-month nickel was the only price to trade in positive territory, at $11,775 per tonne, up by $25 per tonne from Monday's closing price of $11,750 per ton...Read More
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
The latest news and price moves to start the Asian day on Wednesday November 7.Base metals futures prices on the London Metal Exchange fell again on Tuesday November 6 while uncertainty continued about the outcome of the midterm elections in the United States and that country's trade relations with China. Read more in our live futures report.Here are how prices looked at the close of trading:Brazi...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 6.London Metal Exchange base metal prices were little changed in morning trading on Tuesday November 6, with the market pausing for direction after taking heavy losses on Monday.Three-month copper price is down $13 against yesterday's 5pm closing price at $6,118 per tonne, while aluminium futures are...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday November 6.Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday November 6, with those of aluminium, nickel and zinc benefiting from President Xi's announcement of plans to add new free trade zones in Shanghai.Check Fastmarket MB's live...Read More
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
Base metals futures prices on the London Metal Exchange fell sightly on Tuesday November 6 while uncertainty continued about the outcome of the mid-term elections in the United States and that country's trade relations with China.On Tuesday, three-month nickel was the only price to trade in positive territory, at $11,775 per tonne, up by $25 per tonne from Monday's closing price of $11,750 per ton...Read More
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
London Metal Exchange base metal prices were little changed in morning trading on Tuesday November 6, with the market pausing for direction after taking heavy losses on Monday. Three-month copper price is down $13 against yesterday's 5pm closing price at $6,118 per tonne, while aluminium futures are up by just $4 at $1,979 per tonne and zinc is down by $4 to $2,558 per tonne. Industrial metal mark...Read More
TOKYO/GENEVA, Nov 6 (Reuters) - A World Trade Organization (WTO) dispute panel largely upheld Japan's complaint against a safeguard duty imposed by India on steel imports for two-and-a-half years, a ruling published on Tuesday showed.The ruling, which can be appealed by either side, said India had broken the WTO rules and urged India to take corrective action, even though the disputed duties ended...Read More
* Iran says it is selling oil it needs to, despite U.S. pressure* U.S. crude production seen averaging 12.06 mln bpd in 2019 -EIA* U.S. crude stocks rise by 7.8 mln barrels, topping views (Updates with API data)By Stephanie KellyNEW YORK, Nov 6 (Reuters) - Oil prices fell on Tuesday, with U.S. crude futures hitting an eight-month low, a day after Washington granted sanction waivers to top buyers o...Read More