The latest news and price moves to start the Asian day on Thursday October 25.Base metal prices on the London Metal Exchange were collectively lower at the close of trading on Wednesday October 24, pressured by continued strength in the United States' dollar index while the three-month aluminium price broke below $2,000 per tonne for the first time since April. Read more in our live futu...Read More

The shutdown of Brazilian alumina refinery Alunorte for a few days in October could bring its production volume down by 20,000-30,000 tonnes in the fourth quarter, according to Eivind Kallevik, chief financial officer of the unit's owner, Norsk Hydro.Hydro produced 821,000 tonnes of alumina during the third quarter of 2018. If output goes down by as much as 30,000 tonnes, that would mean a reducti...Read More

Lead and zinc premiums were roughly steady across the markets in Asia, Europe and the United States in the week ended Tuesday October 23, but buying interest in Asia and Europe was limited due to the closed import arbitrage window into China and a strong backwardation on the London Metal Exchange.Meanwhile, the US premium was expected to rise, underpinned by higher freight rates and solid demand....Read More

Comex copper prices bounced-back Wednesday morning in the US amid falling inventories and signs of strong demand.The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.30 cents to $2.7610 per lb.LME copper stocks continue to trend lower because tighter spreads have attract limited inflows - stocks total 152,225 tonnes, down...Read More

Despite beating average Wall Street analyst forecasts for third-quarter earnings per share and revenue, no material news on progress with the Indonesian government regarding its long-term Grasbe...Read More

The copper cathode premium in Italy has shot to two-and-a-half-year highs after vessels from Peru and Chile were delayed.Meanwhile, disruptions at copper smelters globally are supporting spot cathode premiums in China despite a backwardation in the LME forward curve and import losses making trading less profitable. Cif Leghorn premiums rise to highest in 30 months Shanghai Cif premiums down $3 per...Read More

The United States Department of Commerce has found that Mexican steel producer Deacero has been circumventing an existing anti-dumping duty on wire rod, according to a preliminary ruling released late last week.The company's exports of carbon and certain alloy steel wire rod, with diameters lower than 4.75mm, were found to be circumventing the existing tariff, according to the preliminary decision...Read More

European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday October 24, but there was still a gap between buyers' and sellers' valuations of material.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($613-642) per tonne delivered on Wednesday. Both assessments w...Read More

The price for rebar produced and delivered in Southern Europe remained flat on Wednesday October 24, with fears easing about a glut of Turkish metal and more bullish market drivers emerging.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?520-545 ($596-625) per tonne per tonne delivered on Wednesday, flat from last week after dipping a week earlier.Turkey rec...Read More

The price for rebar produced and delivered in Northern Europe remained stable over the week ended Wednesday October 24, with sellers confidently predicting higher prices to come in November.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?550-570 ($631-654) per tonne on October 24, but sellers are already submitting higher offers to their customers."We've sen...Read More

Domestic prices for steel beams in Europe were stable this week, on continued good demand, although there was concern about the knock-on effects on water-borne freight of low water levels on the River Rhine, sources told Fastmarkets on Wednesday October 24.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-650 ($711-745) per ton...Read More

Turkey produced 27.981 million tonnes of crude steel in January-September 2018, a 0.86% increase on the 27.742 million tonnes produced in the corresponding period in 2017, according to the Turkish Steel Producers Association (T???oeD). In September, crude steel production was 2.80 million tonnes, a 5.90% year-on-year fall. The country produced 9.416 million tonnes of slab in January-September, up...Read More

Key data from the Wednesday October 24 pricing session in Europe.Key drivers The downward trend in the European ferro-titanium market in October has been extended in the latest assessment, with high-volume sales to Europe from Russia dragging down prices. Sources said there is supplier resistance at $5 per kg, which is proving something of a psychological level for the market. But there is en...Read More

Molybdenum prices have bounced back in Europe this week after a mixed tender for around 500 tonnes of oxide and ferro-molybdenum was mostly settled in Asia to major consumer Posco, sources said.Fastmarkets MB assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $12.00-12.20 per lb on Wednesday October 24, up from $11.90-12.00 per lb on Friday last week.Fastmarkets MB a...Read More

Traders in China are increasingly switching their attention from manganese ore to chrome ore, predicting better upside potential, market sources told Fastmarkets this week.Manganese ore has been a popular market for positioning and speculating in recent years, particularly in 2016 and 2017 when large profits were made by buying cheap manganese and squeezing stocks in ports. A smaller-scale at...Read More

The following Fastmarkets noble alloys and ores prices changed on Wednesday October 24:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.20 per lb from $11.90-12.00Ferro-molybdenum...Read More

The following Fastmarkets minor metals prices changed on Wednesday October 24:Minor metalsAntimony MB free market regulus, $/tonne: $8,150-8,400 per tonne from $8,150-8,500Antimony MMTA standard grade II, $/tonne: $8,100-8,350 per tonne from $8,150-8,450Bismuth MB free market, $/lb: $3.80-4.30 per lb from $3.90-4.40Cobalt MB free market high...Read More

Ferrous scrap export prices rose on a fresh bulk cargo sold from the US East Coast to Turkey, steadying export yard buying prices and containerized shredded scrap prices while West Coast export prices face downward pressure from a slowdown in Asian demand. After a three-week lull, a Turkish steelmaker booked an East Coast cargo on Tuesday October 23 at $331 per tonne cfr for 33,000 tonnes of No1 a...Read More

A Turkish steel producer booked a US deep-sea cargo earlier this week, bringing prices down on Wednesday October 24, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 33,000 tonnes of HMS 1&2 (80:20) at $331 per tonne, 5,000 tonnes of shredded at $336 per tonne and 2,000 tonnes of bonus grade at $341 per tonne cfr.This cargo was sold...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 oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at $80 per tonne cfr China, laycan November 26-December 5.Corex, 170,000 tonnes of 62% Fe Pilbara Blend fines, sold at the Nove...Read More