Base metals prices on the London Metal Exchange were mostly lower at the start of the week on Monday October 29, with nickel trading at a 10-month low while weaker Chinese stocks indices add pressure across morning trading.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% over the morning and nearing levels unseen since 2014.&...Read More

International trading house Concord Resources is suing rival merchant Kyen Resources for $1.1 million, making it the third company to file a lawsuit against the embattled metals trader at the Singapore High Court. Based on the court document filed on October 22, Concord Resources sold one parcel of about 500 tonnes of London Metal Exchange-registered aluminium ingots to Kyen Resources on October 1...Read More

Aluminium billet premiums have remained largely stable worldwide, although Asian premiums have seen some weakness. Supply is generally regarded as tight globally, although slowing demand may loosen supply.European markets draw interestEuropean billet premiums were relatively stable on Friday October 26, holding near highs following the United States' sanctions against UC Rusal.The premium for 6063...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

The price for import merchant bar shot up due to confirmed sales of Mexican material into the southern and southwestern United States, while that for domestic material was steady due to calm market conditions. Fastmarket AMM's latest assessment for imported merchant bar rose to $770-800 per short ton ($38.50-40 per hundredweight) ddp port of Houston on Friday October 26 from $640-680 per ton...Read More

Prices for steel plate have inched up in the United States, due to a round of price increases from domestic mills gaining at least partial traction in the market.Fastmarkets AMM's price assessment for cut-to-length plate stands at $48.50 per hundredweight ($970 per short ton), up 1% from $48 per cwt ($960 per ton) previously, where the price had remained since October 5. Lead times were in a...Read More

The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletRussia, billet, export, traded...Read More

French tube and pipe maker Vallourec said last week that it would not subsidise a takeover bid for its joint-venture Ascoval steel mill in France, which may now have to close.Ascoval said in March that it was searching for a new majority shareholder that would allow it to continue steelmaking operations beyond 2019, after Swiss special steels maker Schmolz & Bickenbach acquired Ascoval's majority...Read More

Brazilian flat steel producer Usiminas is analyzing whether to request an investigation into possible dumping of imported cold-rolled coil (CRC), chief executive officer Sergio Leite told Fastmarkets on Friday October 26.Steelmakers and other market participants in Brazil suspect that CRC and also coated steel imports, mainly from China, have entered the country at dumped prices. A potential compl...Read More

Vietnam's Southern Steel Sheet Co (SSSC) is targeting a larger share of the coated coil market by adding a third galvanizing line to its Nhon Trach operations in the country's Dong Nai province.Italian equipment supplier Tenova will supply the company - a joint venture of Vietnam Steel Corp, Japan's Sumitomo Corp and Malaysia's FIW Steel - with a galvanized coil line with capacity of 150,000 tonne...Read More

China's hot-rolled coil prices dropped on Monday October 29 amid weak demand, with trading activity being described as "very sparse." DomesticEastern China (Shanghai): 4,150-4,170 yuan ($597-600) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 4,080-4,090 yuan per tonne, narrowing downward by 10 yuan per tonneTrading today was very thin during the day, with traders in both the northe...Read More

The need for investment in new lithium projects creates a need for risk management tools, but the market's immaturity creates challenges, according to panelists at an LME focus session during this year's annual LME Week. Increasing demand for lithium compounds arising out of the electric vehicle and battery boom has created an appetite to bring new projects on stream, but there are risks associate...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

Turkish steel producers have continued to book cargoes in the deep-sea scrap trade, with two more transactions coming to light, pushing prices up further on Monday October 29.These two deals were heard on Friday after the data submission deadline for the day.A steel mill in the Iskenderun region booked a Baltic Sea cargo comprising HMS 1&2 (80:20) at $335 per tonne, shredded at $340 per tonne and...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

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreBeijing Iron Ore Trading Center (Corex), 20,000 tonnes of 61.82% Fe Pilbara...Read More

Sellers of seaborne coking coal appear to be less willing to sell to the Chinese market, with cargoes of premium products fetching a higher fob Australia price than cfr China ones.A November-laycan cargo of a top Australian brand was traded at $219.50 per tonne cfr China while a December-laycan shipment of the same product changed hands at $220 per tonne cfr China. The last transaction involving t...Read More

Seaborne iron ore pellet prices dipped for the third consecutive week on Friday October 26, on limited demand from China according to market participants.Fastmarkets' MB 65% Fe Iron Ore Pellet Index (MBIOI-PT) was $152.47 per tonne cfr China on Friday, down by $3.16 per tonne from a week earlier.The fall in the MBIOI-PT is based on the visible market activity detailed below.A 65% Fe Indi...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

A non-binding agreement between the Aluminum Corp of China (Chinalco) and Rio Tinto for the former to acquire the latter's entire stake in the Simandou iron ore project in Guinea has lapsed."Rio Tinto and Chinalco, who respectively own 45.05% and 39.95% of Simandou, will continue to work with the government of Guinea, in West Africa, to explore other options to realize value from the world-class S...Read More