World silico-manganese supply edged up to 1.47 million tonnes in September, with the largest monthly increase recorded in the Commonwealth of Independent States, according to the International Manganese Institute (IMnI). Production was up 2.7% from August and 7.4% year on year globally, while year-to-date production rose 25.3% year on year. Supply from the CIS reached 138,000 tonnes, up 9% from Au...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
Asia's flat steel market is expected to continue to see declining prices amid persistently weak demand and excess supply in the region, market sources told Fastmarkets MB this week.Spot prices for various flat steel products are at intra-year lows, falling steadily after peaking earlier this year. The bearish sentiment will prevail for the time-being, market sources said, with buyers taking the op...Read More
London Metal Exchange members are considering a multitude of ways to continue to service their EU clients in the event that a financial services deal is either not forthcoming or does not go far enough when the UK finally leaves the European Union. Some companies have even told their LME sales teams they need to be prepared to move to another major European city to be able to legally service their...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
A 1% increase in China's export rebate rate for hot-rolled coil will have a minimal impact on the spot market, traders in the country told Fastmarkets on Thursday November 1.The increase in the export rebate for HRC, from 9% to 10%, is just one of 3,449 product rebates announced by China's State Administration of Taxation on Thursday.Existing 9% rebates were increased to 1...Read More
Pig iron export prices from the Black Sea region were largely stable this week, with sellers maintaining offers at the upper end of last week's price range, Fastmarkets learned on Thursday November 1.Fastmarkets' weekly price assessment for high-manganese pig iron was $365-375 per tonne fob Black Sea on Thursday, narrowing upward by just $5 per tonne.Cargoes intended for Italy originating in the B...Read More
Turkish steel producers made no purchases in the deep-sea scrap market on Thursday November 1, with a fresh offer of material from the Baltic Sea region failing to find a taker, according to market participants.A scrap merchant in the Baltic Sea region was heard offering 30,000-35,000 tonnes of HMS 1&2 (95:5) at $345 per tonne cfr on Thursday. No mill had accepted the cargo at...Read More
Turkish billet prices increased over the past week due to the latest uptick in imported scrap values in the country, sources said on Thursday November 1.Fastmarkets' weekly price assessment for billet imports into Turkey was $465-470 per tonne cfr on November 1, up from $455 per tonne last week.Suppliers in the Commonwealth of Independent States (CIS) were offering billet in Turkey at around $470-...Read More
Copper prices on the Comex exchange in New York maintained their recovery in the morning of Thursday November 1, with a weaker dollar providing support to the base metals complex.The copper price for December settlement on the Comex division of the New York Mercantile Exchange rose day on day by 2.60 cents per lb to $2.6850 per lb."After a largely down session across a number of commodity complexe...Read More
The latest news and price moves to start the Asian day on Friday November 2.Comex copper prices in New York, like most base metals on the London Metal Exchange, mostly recovered on Thursday November 1, with a weaker dollar providing support to the complex. Read more in our live futures report.Here are how prices looked at the close of trading:A 10-year low in LME zinc stock volumes...Read More
The latest metal markets news and price moves to start the North American day on Thursday November 1.Base metals on the London Metal Exchange were collectively higher during morning trading on Thursday November 1, with most metals recovering from Wednesday's dip amid a softer US dollar index and a continued drawdown in LME inventories.Pushing back above $11,500 per tonne, the three-month nickel pr...Read More
Good morning from Fastmarkets MB's offices in Asia, bringing the latest news and pricing stories on Thursday November 1. Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading, with the complex coming under pressure from weaker China data. China's weak manufacturing growth for October, with manufacturing PMI at 50.2 and non-manufacturing PMI...Read More
Asia's flat steel market is expected to continue to see declining prices amid persistently weak demand and excess supply in the region, market sources told Fastmarkets MB this week.Spot prices for various flat steel products are at intra-year lows, falling steadily after peaking earlier this year. The bearish sentiment will prevail for the time-being, market sources said, with buyers taking the op...Read More
Base metals on the London Metal Exchange were collectively higher during morning trading on Thursday November 1, with most metals recovering from Wednesday's dip amid a softer US dollar index and a continued drawdown in LME inventories. Pushing back above $11,500 per tonne, the three-month nickel price gathered support over the morning session, hitting an intraday high of $11,645 per tonne after f...Read More
Seaborne coking coal spot prices were mostly unchanged on Thursday November 1 amid an inactive market.In China, spot prices for domestic coking coal from Shanxi to Tangshan increased by around 60-70 yuan ($8.60-10) per tonne, a coke plant source in Tangshan said."We saw that coming. We are now paying around 1,520 yuan per tonne for hard coking coal with 1.3% sulfur and around 1,840 yuan per tonne...Read More
China's hot-rolled coil market continued to drop on Thursday November 1 amid rising supply after tumbling a day earlier, while export prices are also expected to dip after the product had its export rebate increased. DomesticEastern China (Shanghai): 4,060-4,080 yuan ($582-585) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 4,040-4,050 yuan per tonne, down 10 yuan per tonneChinese stee...Read More
* Fall extends hefty October losses for Brent, WTI* Signs of rising supplies ahead of Iran sanctions* Benchmark prices continue weakness from October* U.S. crude hits lowest level since April (New throughout, adds settlement prices, new quotes)By David GaffenNEW YORK, Nov 1 (Reuters) - Oil fell nearly 3 percent on Thursday, with U.S. crude futures hitting lows not seen since April, due to growing...Read More
NEW DELHI, Nov 1 (Reuters) - India is likely to announce new steps to support small and medium-sized businesses, such as increased access to credit and financial markets, at an industry event on Nov. 2, the finance ministry said in a tweet.Prime Minister Narendra Modi will launch a programme to support the businesses in New Delhi on Friday, the finance ministry said.Modi's government is pushing th...Read More