The latest metal markets news and price moves to start the North American day on Tuesday October 16.London Metal Exchange base metal prices were lower across the board during this morning trading, with aluminium's three-month price largely unaffected by a 70,000-tonne delivery.Following the largest inflow since April this morning, total LME aluminium stocks are now sitting just below 1 million ton...Read More

Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday October 16. Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday, with the complex in consolidation mode after lackluster China data failed to inspire much-needed confidence in the market.Check Metal Bulletin's live futures report here....Read More

Base metals prices on the London Metal Exchange made mixed movements at the close of trading on Tuesday October 16, broadly supported by a weaker US dollar index and a marginal recovery in global equity markets.Continuing to outperform the rest of the complex, the three-month lead price remains elevated, closing above $2,050 per tonne and up more than 10% from its fresh 2018 low of $1,876 per tonn...Read More

The price of copper on the Comex exchange in the United States was slightly lower on the morning of Tuesday October 16, with the market unable to sustain the momentum it gained after LME Week in London earlier this month.The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped by 0.50 cents to $2.7880 per lb.Despite disruptions at key producing faci...Read More

Seaborne iron ore prices were rangebound on Tuesday October 16, while premiums for Pilbara Blend fines were up slightly. MB 62% Fe Iron Ore Index: $71.50 per tonne cfr Qingdao, down by $0.16 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.53 per tonne cfr Qingdao, down by $0.16 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.70 per tonne cfr Qingdao, up by $0.36 per tonne.MB 58% Fe Premium...Read More

* Missing journalist case strains U.S.-Saudi ties* Iran exports 1.33 mln bpd of crude in Oct. 1-14: Refinitiv* U.S. shale output to hit record 7.7 mln bpd in Nov -EIA* U.S. crude inventories seen up for fourth week -Reuters poll* API reports U.S. crude stocks fall 2.1 mln bbls last week (Adds API data, price move)By Devika Krishna KumarNEW YORK, Oct 16 (Reuters) - Oil prices edged up in cautious t...Read More

* Co maintains annual revenue forecast of 6-8 pct* CEO says sees strong demand outlook* See spends coming back in North America - COO (Recasts, add execs' comments from news conference)By Sankalp Phartiyal and Krishna V KurupMUMBAI/BENGALURU, Oct 16 (Reuters) - Infosys Ltd INFY.NS retained its revenue forecast for the current financial year, with the chief of India's second largest IT firm sayin...Read More

Oct 16 (Reuters) - Amazon.com Inc AMZN.O is likely to buy an at least 7 percent to 8 percent stake in India's Future Retail (NS:FURE) Ltd FRTL.NS through an investment arm, CNBC-TV 18 reported, citing sources.The potential cash-and-stock deal, which is in its final stages, could be worth 25 billion rupees ($338 million) and is likely to be signed in the next two weeks, the channel https://www.cn...Read More

The Turkish deep-sea scrap market remained silent again on Tuesday October 16, with volumes of billet being purchased instead of scrap, according to market participants.Appetite for scrap has been falling and demand remains low, with reports of mills choosing to purchase billet instead. Turkish domestic billet prices have been on a general downtrend since September 13.Many Turkish steel mills have...Read More

(The opinions expressed here are those of the author, a columnist for Reuters)* Global Copper Stocks: https://tmsnrt.rs/2OwwYKI* Stocks by Exchange: https://tmsnrt.rs/2OsdVRnBy Andy HomeLONDON, Oct 16 (Reuters) - The copper market is currently experiencing a squeeze on physical metal.This is unexpected.The London Metal Exchange (LME) price CMCU3 is treading water just above the $6,000 level, strug...Read More

Rio Tinto lowered its 2018 guidance for aluminium by more than 4% on Tuesday October 16, to reflect the impact of the ongoing lock-out at the Becancour smelter in Quebec, Canada.The company's guidance figure for aluminium production has been revised to 3.4-3.5 million tonnes from 3.5-3.7 million tonnes previously, excluding any potential adjustment from the completion of the sale of the Aluminium...Read More

The latest news and price moves to start the Asian day on Wednesday October 17.Base metals prices on the London Metal Exchange recorded mixed moves at the close of trading on Tuesday October 16, broadly supported by a weaker dollar index in the United States and a marginal recovery in global equity markets. Read more in our live futures report.Here are how prices looked at the close of t...Read More

Fastmarkets' Shanghai-London physical arbitrage calculation for copper was published incorrectly on Tuesday October 16 due to an error in inputting the data.The copper import arbitrage, which tracks the physical import arbitrage into the Shanghai market, was initially published as -$122.48 per tonne/-850.23 yuan per tonne.It has now been corrected -$118.42 per tonne/-822.04 yuan per tonne.Fastmark...Read More

The London Metal Exchange has suspended delivery of Sterlite Copper's STERLITE T copper cathode brands for delivery from January 16, 2019, it said today on October 16.The suspension, which can be indefinite but is not a de-listing, is attributed to Sterlite's Tuticorin 400,000 tonnes-per-year refined cathode...Read More

The price of copper on the Comex exchange in the United States was slightly lower on the morning of Tuesday October 16, with the market unable to sustain the momentum it gained after LME Week in London earlier this month.The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped by 0.50 cents to $2.7880 per lb.Despite disruptions at key producing faci...Read More

The world's largest mining company, BHP, has increased its stake in Ecuador-focused copper junior miner SolGold to 11.2% from 6%, it said in a notice late on Monday October 15.BHP entered into a share subscription agreement whereby SolGold will issue 100 million shares to the company at 45 pence sterling ($0.59) per share, a 32% premium on the past 20-day average. The increase will give BHP the op...Read More

The government of Mexico will request an exemption from a 25% duty that Canada plans to impose on imports of steel products."The Mexican government will take all actions necessary to protect Mexican exporters in the near term," the country's economy secretariat said late in the week ended Friday October 12."It will also use all the available resources...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 $560-590 per tonne cfr, to Saudi Arabia. China, export, hot-rolled coil, offered at $590-595 per ton...Read More

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarOman, export, rebar, traded at $525 per tonne cfr, theoretical weight,...Read More

Trading activity in the CIS export billet market remained quiet early in the week that began on Monday October 15 amid a mismatch between suppliers' offers and customers' bids.Some market participants expected that conditions in the regional steel market would improve because of the better diplomatic relations between Turkey and the United States, which could have a positive effect on CIS-origin s...Read More