Positive sentiment continued to spread in the CIS export billet market on Monday October 29, despite a lack of confirmed deals and no major price changes.Market participants said that ongoing improvements in import scrap prices in Turkey should provide support for CIS billet sellers.Another supporting factor was that fewer customers were willing to deal with Iranian materi...Read More
Rebar prices edged up in northern China on Monday October 29 on a slight buying blip while those in the eastern region were stagnant amid transportation restrictions.Domestic Eastern China (Shanghai): 4,650-4,680 yuan ($669-674) per tonne, unchangedNorthern China (Beijing): 4,410-4,450 yuan per tonne, up 10 yuan per tonneRebar futures dropped during the day, but spot prices held up, with those in...Read More
China's ferrous futures fell during morning trading on Monday October 29 after the central Chinese government voiced its objection over what it considered to be indiscriminate restrictions to cut emissions.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,168 yuan ($600) per tonne, down 34 yuan per tonneJanuary hot rolled coil: 3,854 yuan per tonne, down 41 yuan p...Read More
Prices for manganese ore imported into China on an fob basis ticked upward in the pricing session that ended on Friday October 26, while trading activity started to pick up in China before the onset of winter. High- and low-grade manganese ore prices showed modest increases Manganese ore grade prices in China ticked upward Falling bids weigh on Indian silico-manganese prices US focuses on long-ter...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday October 29, with strong consumer spending figures from the United States fueling broad strength in the US dollar index and adding downward pressure on prices.In a report released by the US Commerce Department, consumer spending increased by 0.4% over October, however, this is the smallest gain in 15...Read More
Ammonium paratungstate (APT) prices remained supported, with a new round of environmental inspections expected to take supply out of the market. Environmental inspections team to return to Jiangxi, Hunan provinces; APT price supported Ferro-tungsten prices range-bound on weak demand, oversupply Concentrates prices unchanged awaiting clear market directionFastmarkets MB assessed the European APT pr...Read More
Positive sentiment continued to spread in the CIS export billet market on Monday October 29, despite a lack of confirmed deals and no major price changes.Market participants said that ongoing improvements in import scrap prices in Turkey should provide support for CIS billet sellers.Another supporting factor was that fewer customers were willing to deal with Iranian materi...Read More
The latest news and price moves to start the Asian day on Tuesday October 30.Base metal prices on the London Metal Exchange were lower at the close of trading on Monday October 29, with strong consumer spending figures from the United States fueling broad strength in the US dollar index and adding downward pressure to the market. Read more in our live futures report.Here are how prices looked at t...Read More
Good morning from Fastmarkets' offices in Asia, bringing the latest news and pricing stories on Monday October 29. Base metals prices on the Shanghai Futures Exchange were predominantly higher during Asian morning trading, with zinc showing the biggest gains on depleting inventories; meanwhile tin and...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday October 29, with strong consumer spending figures from the United States fueling broad strength in the US dollar index and adding downward pressure on prices.In a report released by the US Commerce Department, consumer spending increased by 0.4% over October, however, this is the smallest gain in 15...Read More
Iron ore prices were largely steady on Monday October 29, with limited liquidity in the spot market amid expectations of a loosening of steelmaking restrictions in China.MB 62% Fe Iron Ore Index: $76.48 per tonne cfr Qingdao, unchanged.MB 62% Fe Pilbara Blend Fines Index: $75.51 per tonne cfr Qingdao, unchanged.MB 62% Fe Iron Ore Index-Low Alumina: $80.23 per tonne cfr Qingdao, down $0.17 per tonn...Read More
Comex copper prices edged higher Monday morning in the US with the market holding steady amid further Chinese stock market deterioration. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 1.25 cents to $2.7535 per lb.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% ov...Read More
* Russia's Novak: No need to freeze or cut oil output levels* Markets nervous after broad decline last week* Trump's sanctions on Iran tested by oil-thirsty China, India(Updates with settlement price, adds commentary)By Stephanie KellyNEW YORK, Oct 29 (Reuters) - Oil prices edged lower on Monday, with futures on track for the worst monthly performance since mid-2016, after Russia signaled that out...Read More
* Reliance is India's second most valuable listed company* Shares slump amid domestic woes: https://tmsnrt.rs/2BXsjtu* India's petrol is very expensive: https://tmsnrt.rs/2Ol51EM* Reliance sees long-term future in petrochemicalsBy Koustav Samanta and Promit MukherjeeSINGAPORE/NEW DELHI, Oct 29 (Reuters) - Reliance Industries RELI.NS , currently India's second most valuable listed company, got ri...Read More
* Aircraft sank after crashing into sea, wreckage found* Pilot had asked to return to Jakarta* Plane lost contact 13 minutes after takeoff* No sign of any survivors (Adds authorities taking away 24 body bags)By Cindy Silviana and Bernadette Christina MuntheJAKARTA, Oct 29 (Reuters) - An Indonesian airliner crashed into the sea on Monday, with the likely loss of all 189 people on board, as it tried...Read More
Treatment charges (TCs) for spot zinc concentrates continued to rise over the past week after an open arbitrage into China and agreement on higher prices led to a flurry of deals earlier in the month.Meanwhile, spot prices for lead concentrates dropped, although the market was persistently lacking in supply.The zinc market is still in transition from being more tightly supplied than at any other t...Read More
(For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in an Eikon news window.)* Nasdaq leads losses in volatile session* Amazon, Netflix among declining big growth names* Financials, staples mitigate declines* Red Hat surges on $34 bln purchase by IBM (NYSE:IBM)* Indexes down: Dow 0.99 pct, S&P 0.66 pct, Nasdaq 1.63 pct(Adds graphic on FANG stocks)By Lewis KrauskopfOct 29 (Re...Read More
Cobalt spot market prices for both high- and low-grade material increased week on week on Wednesday October 24 on bullish sentiment that was fueled by supply tightness in the United States, arising from sanctions on Chinese metal, Fastmarkets has heard.Although the cobalt spot market was unusually slow last week, due to industry conferences and the beginning of contract price negotiations, the dea...Read More
Comex copper prices edged higher Monday morning in the US with the market holding steady amid further Chinese stock market deterioration. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 1.25 cents to $2.7535 per lb.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% ov...Read More
South Korean zinc smelter Young Poong is facing a 20-day shutdown at its Sukpu refined zinc smelter after a court rejected the company's appeal against a closure order.Situated in a national park, the Sukpu smelter is alleged to have discharged waste from the smelting process into the local river, which is used for drinking water by millions of people. Environmental groups and residents have been...Read More