LIVE FUTURES REPORT 06/09: LME nickel spreads tighten on mild buying momentum; lead price finds support

The London Metal Exchange three-month nickel price closed higher on Friday September 6, with fresh buying momentum prompting the metal’s forward spreads to tighten, while a steady incline in lead futures led the metal to top afternoon gains. Volumes traded in nickel over the afternoon were moderate at 8,600 lots, while average daily turnover returned…

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SteelAsia & HBIS Ink Deal for Batangas Plant

Philippines largest steelmaker, SteelAsia Manufacturing Corp has signed a memorandum of understanding with China’s HBIS Group Limited for their first integrated iron and steel facility in Lemery, Batangas. The two steel companies inked their deal here Friday during the Philippine-China Business Forum, a side event of President Rodrigo Duterte’s visit to China. Under the MOU,…

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Brazil domestic rebar weakens in September as price increase fails

The domestic price for Brazilian steel rebar dropped for the fourth consecutive month in September, with apparent long steel consumption faltering, smaller producers increasing the discounts granted to customers, and ferrous scrap costs holding steady. Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 2,125-2,300 Reais ($519-561) per tonne on September…

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