Weak demand pushed European premiums down in the week ended Tuesday April 2 even though restored Indonesian supply is less than before; meanwhile, overseas firms sold aggressively into the United States bringing down the premiums there and China's tin market saw no change. European low-lead premium drops 10% week on week. Bargain tin was available in Baltimore after US suppliers were underc...Read More
The US copper price rebounded during midweek trading on Wednesday April 3 with optimism of a resolution to the US-China trade conflict boosting the base metals complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange gained 2.30 cents to $2.9285 per lb. In macro news, progress following US-China trade talks held last Friday in Beijing continues to impr...Read More
Starting this Sunday, some 2,000 copper industry participants will gather in Santiago, Chile, for the annual Cesco Copper Week, looking into market dynamics and future development along the red metal supply chain. Fastmarkets has compiled a list of panels and events for the week. Please note that events are private receptions and admission is strictly by invitation only.Sunday April 71700-210...Read More
European zinc premiums were unchanged in the week to Tuesday April 2 with a widening backwardation muting buying interest, while in China, the lowering of the value-add tax did not boost the zinc premium there against market expectation. European markets quiet amid a widening backwardation. China's zinc market slow with limited impact from the 3 percentage point VAT cut on April 1. US l...Read More
Muted demand and a closed import window put downward pressure on the Shanghai cif premium for nickel cathode on Tuesday April 2, while the nickel briquette premium in the United States also slid on weak demand. China's trade mostly domestic, partly to avail of recent tax cuts Cathode cutting delays continue in US market European traders deterred by LME nickel contango Chinese cif premiu...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe moved down this week, with feedstock prices continuing to fall and an expected seasonal pickup in demand failing to arrive, sources told Fastmarkets on Wednesday April 3.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe went down by ?,?5-10 per tonne to...Read More
Demand for flat steel in Turkey failed to improve in March and most prices went downward, with demand unlikely to improve significantly in April, market participants told Fastmarkets on Wednesday April 3.Local producers have filled their order books until late May, they added.The price decreases in March were because of the weak demand in both local and export markets.Mayoral elections were held a...Read More
Turkish steel producers continued to stay away from the deep-sea scrap markets due to domestic political instability and weak demand for finished steel, sources said on Wednesday April 3.The lowest offer for HMS 1&2 (80:20) was heard at $315 per tonne cfr from a Baltic Sea supplier but the mills did not want to pay any higher than $305 per tonne, Fastmarkets was told.The mills were also waiting fo...Read More
Physical iron ore prices shot up further above the $90-per-tonne-cfr mark on Wednesday April 3 amid bullish sentiment reflected in derivatives markets. MB 62% Fe Iron Ore Index: $93.08 per tonne cfr Qingdao, up $3.19 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.20 per tonne cfr Qingdao, up $3.19 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $95.60 per tonne cfr Qingdao, up $3.46 per tonn...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...Read More
The seaborne coking coal spot market weakened again on Wednesday April 3, and ample supply is expected to weigh on prices further.A cargo of a top Australian brand premium hard coking coal, which is scheduled for loading between end-April and early May, was traded at $200.11 per tonne cfr China, various sources told Fastmarkets during the day. The same brand changed hands at $201.66 per tonne cfr...Read More
China's hot-rolled coil market was largely steady on Wednesday April 3, though exporters have started to adopt different strategies amid domestic prices gains and weak demand from abroad.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($577-579) per tonne, up 20 yuan per tonneNorthern China (Tianjin): 3,790-3,810 yuan per tonne, unchangedPrices in Shanghai rose during the day, even though tradi...Read More
China's rebar prices moved up on Wednesday April 3 in both its domestic and export markets in response to heightened expectations of a drop in iron ore supply upstream.Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($580-588) per tonne, up 50 yuan per tonneNorthern China (Beijing): 3,900-3,940 yuan per tonne, up 40 yuan per tonneFerrous futures, including the rebar contract, rose across the b...Read More
Import prices for stainless steel in East Asia softened slightly over the past week due to weak regional demand, despite the recovery in the London Metal Exchange nickel price.Fastmarkets' weekly import price assessment for benchmark-304 stainless 2mm trimmed cold-rolled coil (CRC) in East Asia was $2,030-2,110 per tonne cif on Wednesday April 3, down by $10-20 per tonne from a week earlier.Fastma...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Wednesday April 3, improving on continued progress emanating from recent US-Chinese trade talks while persistent strength in the US dollar fails to deter buying momentum. Nickel's three-month price is now trading comfortable above $13,300 per tonne amid a continued drawdown in the LME's dwindling st...Read More
Global aluminium markets took divergent paths in the week ended Tuesday April 2, with premiums in the Dutch port of Rotterdam and Asia edging upward after gaining support from wide contangoes in London Metal Exchange aluminium price spreads and tightening spot supply of refined metal in Asia.Premiums were largely weaker elsewhere, with those in the United States dropping to an 11-week low. Rotterd...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.The cobalt sulfate, Co 20.5% min, China ex-works, adjustment to the low-grade cobalt low-end price at Co 20.5% basis is on a $ per lb basis.Fastmarkets MB prices Click here for Fastmarket MB's price assessment for coba...Read More
Key data from the pricing session in London on Wednesday April 3.Key drivers- Traders continue to restock after prices stabilized two weeks ago; consumers start to buy after months of reducing their positions and working through high-priced stock.- Sellers successfully raise offer...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Wednesday April 3:Antimony MB free market regulus, $/tonne: $7,100-7,450 per tonne from $7,200-7,500Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 43,500-45,000 yuan per tonne from 44,000-45,000 yuanCobalt MB free market alloy grade, $/lb: $14.90-16.35 per lb...Read More