CIS export slab prices have remained unchanged over the past week despite modest demand in the major outlet markets because competition in the global marketplace has softened.One of the reasons for the reduced level of competition was that Brazilian suppliers have switched the focus of their activities back to the United States from the European, Turkish and Asian markets.Brazilian companies were...Read More
CIS steel billet suppliers continued to seek support in the markets of Southeast Asia in the second half of October, with customers' interest in imported billet in the Middle East-North Africa (Mena) region remaining low while the finished long steel market is subdued.Offers of CIS-origin billet varied mainly within the range of $460-470 per tonne fob Black Sea, market participants told Fastmarket...Read More
China's domestic rebar prices increased on Monday October 22, tracking the strength seen in the futures market.Domestic Eastern China (Shanghai): 4,620-4,650 yuan ($667-671) per tonne, up 70-80 yuan per tonneNorthern China (Beijing): 4,370-4,400 yuan per tonne, up 30-40 yuan per tonneThe benchmark Shanghai Composite Index surged on Monday after senior Chinese government officials talked up the pro...Read More
Prices for China-origin UG2 chrome ore and Turkish lumpy chrome ore rose over the trading session on Friday October 19, while Chinese domestic ferro-chrome spot prices fell slightly on weak demand from stainless steel mills. Turkish lumpy chrome ore prices to China make strong gain in wake of higher UG2 prices Chrome ore price in China supported by lower estimates of stocks Domes...Read More
The ammonium paratungstate (APT) price edged up in Europe at the end of last week, credited to a pick-up in spot activity and amid talks of another round of environmental inspections in China that could take supply out of the market. Fastmarkets' APT quotation in Europe moved up for the first time since June Concentrate prices edge up slightly; market awaits clearer direction Ferro-tung...Read More
Seaborne iron ore pellet prices have fallen - as was expected by market participants - while demand for pellet cargoes in China eased due to the looser restrictions imposed on steel mills for November.The MB 65% Fe Iron Ore Pellet Index, published by Fastmarkets MB, was at $155.63 per tonne cfr China on Friday October 19, down by $4.91 per tonne from a week earlier.The fall in the MB 65% Fe Iron O...Read More
Prices for China-origin UG2 chrome ore and Turkish lumpy chrome ore rose over the trading session on Friday October 19, while Chinese domestic ferro-chrome spot prices fell slightly on weak demand from stainless steel mills. Turkish lumpy chrome ore prices to China make strong gain in wake of higher UG2 prices Chrome ore price in China supported by lower estimates of stocks Domes...Read More
BASF and Nornickel have established a strategic partnership centered around battery materials for electric vehicles, including a feedstock supply deal and co-located facilities, the companies said.The European chemical company has selected Harjavalta, Finland, as the first location for battery materials production that will serve the European automotive market. The plant will be constructed adjace...Read More
Base metals prices on the London Metal Exchange were higher across the board by the close of trading on Monday October 22, with prices elevated despite a slightly weaker US stock market opening in addition to a strong US dollar index. Despite a fresh cancelation of more than 25,000 tonnes from LME-listed warehouses in Singapore, the three-month aluminium price drifted down from its intraday high o...Read More
Export prices for flat steel from the Commonwealth of Independent States went down on Monday October 22 on weak demand in the key outlet regions.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) went down to $517-523 per tonne fob Black Sea on October 22, from $520-530 per tonne fob Black Sea a week earlier."Weak Chinese prices [for HRC] are not the reason for th...Read More
The latest news and price moves to start the Asian day on Tuesday October 23.Base metals prices on the London Metal Exchange were higher across the board by the close of trading on Monday October 22, with prices elevated despite a slightly weaker stock market opening in the United States and a strong US dollar index. Read more in our live futures report.Here are how prices looked at the close...Read More
The latest metal markets news and price moves to start the North American day on Monday October 22. Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Monday October 22, buoyed by a sharp uptick in Chinese stock markets, while a sizeable fresh cancelation in LME aluminium stock provided upward momentum for the light metal.Appreciating by just...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday October 22.Base metals prices on the Shanghai Futures Exchange saw limited movement during Asian morning trading on Monday, with only zinc seeing a significant change - falling 1.5% - after large deliveries of the metal entered SHFE sheds last week. Check Metal Bulletin's live futures r...Read More
Base metals prices on the London Metal Exchange were higher across the board by the close of trading on Monday October 22, with prices elevated despite a slightly weaker US stock market opening in addition to a strong US dollar index. Despite a fresh cancelation of more than 25,000 tonnes from LME-listed warehouses in Singapore, the three-month aluminium price drifted down from its intraday high o...Read More
Comex copper prices traded at one-week high in the US morning on Monday October 22 amid hopes for added Chinese stimulus measures. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 2.65 cents to $2.8045 per lb. The complex is broadly higher on strong macroeconomic data, especially from China. "They are receiving buoyancy from sharply rising.....Read More
The London Metal Exchange has clarified its forward-looking clearing strategy amid a raft of looming regulatory hurdles, in addition to outlining a move away from its current margin model, it told delegates at this year's LME Week.In particular, circumstances surrounding the UK's exit from the European Union could prove the most challenging obstacle for the exchange, with clearing services for all...Read More
* Beijing seeks ways to reduce its dependence on U.S. soybeans* India industry welcomes move but says process still lengthy* Rapeseed futures in India jump on the news(Adds detail, background)By Hallie Gu and Rajendra JadhavBEIJING/MUMBAI, Oct 22 (Reuters) - China has dropped a years-long ban on rapeseed meal imports from India as the government seeks to diversify sources of protein used in animal...Read More
* NSE index down 0.57 pct; BSE index 0.53 lower* Reliance Industries sinks 3.5 pctOct 22 (Reuters) - Indian shares fell for the third consecutive session on Monday, weighed down by index heavyweight Reliance Industries Ltd RELI.NS as macro concerns, including higher crude prices and liquidity crunch, hurt the trading sentiment.While the benchmark BSE index .BSESN closed down 0.53 percent at 34,1...Read More
* Saudi Arabia says to raise output to 11 million bpd* Sanctions against Iran oil exports to start Nov. 4 (Adds fresh comment, latest prices; changes byline, dateline, previous LONDON)By Scott DiSavinoNEW YORK, Oct 22 (Reuters) - Oil futures were little changed on Monday after paring earlier losses despite Saudi Arabia's pledge to raise crude production to a record high, two weeks before U.S. sanc...Read More
* FTSE 100 down 0.1 pct, mid-caps down 0.2 pct* NM Health jumps most in more than a year on earnings* Higher metals prices lift mining stocks* Lloyds lifted by report of big share buyback (Adds details, updates prices)LONDON, Oct 22 (Reuters) - Britain's blue-chip share index gave up earlier gains and slipped into negative territory on Monday in see-saw trade as lower oil prices pressured energy s...Read More