The latest metal markets news and price moves to start the North American day on Tuesday October 23.Base metals prices on the London Metal Exchange were broadly lower during morning trading, hampered by broad risk-aversion amid a two-year low in European stock indices while a firm dollar index continues to limit price rallies.Here is...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday October 23.Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Tuesday amid a firmer dollar and ongoing trade tensions, with only tin prices recording significant gains. Check Fastmarket MB's live futures report here.Prices for China-ori...Read More
* Wall St tumbles as weak industrial forecasts add to sour mood* Saudis could pump 1-2 million bpd more than today - Falih* Rising U.S. oil output to offset Iran: https://tmsnrt.rs/2ECCJ4T* U.S. crude oil stocks rise 9.9 mln bbls -API (Adds API data, price reaction)By Devika Krishna KumarNEW YORK, Oct 23 (Reuters) - Oil prices plunged about 5 percent on Tuesday to two-month lows as a sell-off in g...Read More
* NSE index down 0.96 pct, BSE index ends 0.84 pct* Asian Paints closes over 5 pct downOct 23 (Reuters) - Indian shares ended lower on Tuesday, sinking further in the last hour of trade, as oil marketing companies dragged following a rating downgrade by brokerage Nomura, but macro concerns played on overall sentiment.The benchmark BSE index .BSESN closed down 0.84 percent at 33,847.23, its lowes...Read More
NEW DELHI, Oct 23 (Reuters) - India's top digital payments company Paytm said on Tuesday its consumer data was safe after police arrested three people, including the company's spokeswoman, over allegations they tried to blackmail its founder and extort nearly $3 million by threatening to leak personal data."This is a case of personal data theft of Vijay Shekhar Sharma, where three arrests were mad...Read More
Movements in the prices of base metals on the London Metal Exchange were mixed at the close of trading on Tuesday October 23, with tin's strong performance leading the gains across the complex despite a strong US dollar index and broadly risk-averse investors.The three-month tin price has climbed by 2.8% since the start of October and reached an intraday high on Tuesday of $19,400 per tonne. It ha...Read More
Comex copper prices were dragged lower by the downturn in equity markets on October 23 morning in the US, after beginning the trading week on solid footing.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 2.65 cents to $2.7590 per lb."The three-month copper price is under renewed downward pressure on Tuesday October 23 morning after being esse...Read More
Australian iron ore prices firmed up on Tuesday October 23 supported by limited availability, while there were softer prices for Brazilian material.MB 62% Fe Iron Ore Index: $74.31 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.34 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.70 per tonne cfr Qingdao, down by $0.30 per...Read More
(Adds company news items and futures.) Britain's FTSE 100 .FTSE index is seen opening 40 points lower on Tuesday, according to financial bookmakers, with FTSE 100 futures .FFIc1 down 1.01 percent ahead of the cash market open.* ST JAMES: British wealth manager St. James's Place SJP.L on Tuesday posted a 4.1 percent rise in quarterly funds under management, shrugging off market jitters to take in f...Read More
Prices for rebar and billet in the United Arab Emirates were mostly stable in the week to Tuesday October 23, although market participants expect to soon see an increase in import duties.Members of the Gulf Co-operation Council (GCC) will soon increase import duties on rebar and wire rod to 10% from the current 5%, sources told Fastmarkets on Tuesday, October 23.No official announcement has y...Read More
Comex copper prices were dragged lower by the downturn in equity markets on October 23 morning in the US, after beginning the trading week on solid footing.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 2.65 cents to $2.7590 per lb."The three-month copper price is under renewed downward pressure on Tuesday October 23 morning after being esse...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have fallen over the past week, with demand remaining limited, sources told Fastmarkets on Tuesday October 23.UAE Hot-rolled coil from Russia was on offer to the UAE at $560-565 per tonne cfr, with one buyer bidding $550 per tonne cfr. Egyptian material, meanwhile, was on offer to the UAE at $585 per tonne cfr, wi...Read More
The latest news and price moves to start the Asian day on Wednesday October 24.Base metal prices on the London Metal Exchange were mixed at the close of trading on Tuesday October 23, with tin's strong performance leading gains across half of the complex despite a strong US dollar index and broadly risk-averse investors. Read more in our live futures report.Here are how prices looke...Read More
An overhang of secondary aluminium scrap in the United States has continued to weigh on some prices, with market participants skeptical that dynamics will change through the remainder of the year."The market is flush with scrap... buyers are able to pick and choose what they want. We're buying a little metal at a time and only buying what we need. This is not going to stop," one US consumer s...Read More
The US Midwest aluminium premium has fallen for the third assessment in a row, fueled largely by sellers trying to move metal ahead of a pricing backwardation on the London Metal Exchange expected to hit in December.Fastmarkets AMM's assessment of the spot duty-paid P1020 premium fell to 19-19.75 cents per lb on Tuesday October 23, down on the low end from the previous assessment of 19.25-19....Read More
Secondary aluminium alloy prices in the United States held their ranges on Monday October 22, but scrap spreads could imperil the stability of these prices with current supply contracts nearing their conclusion.A wide spread between the benchmark A380.1 and feedstock scrap aluminium looms over the secondary aluminium alloy market but has had surprisingly less of an impact on alloy pricing than it...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 23.Please click...Read More
Trafigura is to set up an integrated copper, zinc and lead smelting-refining complex via a joint venture in Saudi Arabia, the commodity trader said on Tuesday October 23. The multi-billion-dollar project in Ras Al-Khair Mineral City, named "SmeltCo," will be jointly developed and equally owned by Trafigura and Modern Mining Holding - an affiliate of...Read More
Domestic sales volumes of flat steel from distributors in Brazil went down by 2.80% year-on-year in September, with the market losing momentum, national flat steel distributors' association Inda said on Tuesday October 23.Flat steel sales totaled 257,900 tonnes during September, down from 265,400 tonnes in the corresponding month last year, according to Inda. Purchasing also fell by 7.20% year-on-...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil, offered at $560-570 per tonne cfr, to Saudi Arabia.Russia, export, hot-rolled coil, traded at $560-565 per tonn...Read More