A ramp-up in Chinese zinc production is expected to accelerate from the second quarter of this year, boosted by the completion of upgrades at smelting facilities across the country and a surge in treatment charges (TCs) amid a relatively oversupplied raw materials market, sources told Fastmarkets.A large amount of refined zinc capacity in China has been shut or suspended over the past two years du...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday March 25, capped by low-volumes trading while risk appetite continues to falter in the wake of last week's US Federal Reserve policy meeting. Volumes traded were low over the day's trading, with copper leading the complex at just over 12,000 lots changing hands by the close, down from 26,065 lots on...Read More
The Comex copper market was listlessly trading on Monday March 25 morning in the United States, with the market in a general state of paralyses. The copper price for May settlement on the Comex division of the New York Mercantile Exchange was flat at $2.8425 per lb. Without fresh catalysts, the red metal has been unable to generate a consistent direction over the last few weeks, which has continue...Read More
Base metals prices on the London Metal Exchange were generally suppressed during morning trading on Monday March 25, continuing on the downward trajectory from last week.Weakening European and United States' economic data continue to exert downward pressure on all metals, but nickel and tin bore the brunt of this downturn, recently trading down by $100 per tonne and $175 per tonne respectively. "I...Read More
Rebar suppliers have increased their prices for buyers in Russia's Central federal district, the major steel-consuming region in the country, on seasonally improved demand in the secondary market.Fastmarkets' weekly price assessment for domestic 12mm A500C rebar in Russia, including 20% VAT, was 39,000-40,000 roubles ($603-618) per tonne cpt Moscow on Monday March 25, up from 38,500-39,000 roubles...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday March 25, capped by low-volumes trading while risk appetite continues to falter in the wake of last week's US Federal Reserve policy meeting. Volumes traded were low over the day's trading, with copper leading the complex at just over 12,000 lots changing hands by the close, down from 26,065 lots on...Read More
Here are five Fastmarkets MB stories you might have missed on Monday March 25 that are worth another look.A motion to undo United States President Donald Trump's blanket tariffs on imports of steel and aluminium has been denied, the US Court of International Trade (CIT) said in a ruling dated Monday March 25.A ramp-up in Chinese zinc production is expected to accelerate in the second quarter...Read More
Cargoes of copper scrap for import into China have been trading at a bigger discount in March, with buyers staying on the market sidelines on worries they may not get approval to import scrap before new restrictions come into effect this summer.The discount for No2 copper scrap, birch and cliff, comprising 94-96% copper, rose to $0.32-0.38 per lb cif China on Monday March 25. That compared with $0...Read More
The Comex copper market was listlessly trading on Monday March 25 morning in the United States, with the market in a general state of paralyses. The copper price for May settlement on the Comex division of the New York Mercantile Exchange was flat at $2.8425 per lb. Without fresh catalysts, the red metal has been unable to generate a consistent direction over the last few weeks, which has continue...Read More
The premium for the supply of aluminium to main Japanese ports (MJP) for the second quarter of 2019 has settled at $105 per tonne, representing a 25% increase from the first-quarter benchmark of $83-85 per tonne. Deals for a total of 48,850 tonnes of aluminium for April-June delivery between at least one consumer, several traders and three major producers have been reported to Fastmarkets as of Mo...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday March 25*Copper -$118.25 (-795.69 yuan) Aluminium -$276.78 (-1,862.40 yuan) Zinc -$157.80 (-1,061.80 yuan) Nickel -$219.56 (-1,477.40 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More
Base metals prices on the London Metal Exchange were generally suppressed during morning trading on Monday March 25, continuing on the downward trajectory from last week.Weakening European and United States' economic data continue to exert downward pressure on all metals, but nickel and tin bore the brunt of this downturn, recently trading down by $100 per tonne and $175 per tonne respectively. "I...Read More
The Mexican government has officially reinstated a 15% safeguard duty on imports of certain steel products from countries with which it does not have free trade agreements, according to a decree published on the country's official gazette on Monday March 25.The ruling will impose 15% import duties on steel goods classified under 186 tariff codes, including heavy plate, sheets, hot-rolled coil, col...Read More
Fastmarkets published its CIS export billet index later than scheduled on Monday March 25 but it is now appearing as normal.Fastmarkets' CIS export billet index, fob Black Sea, was published in the Fastmarkets price book later than scheduled. The price book has been updated.To provide feedback on the delayed publication of these calculations, please contact Vlada Novokreshchenova by email at: pric...Read More
Abu Dhabi, United Arab Emirates-based flat steel re-roller and galvanizer Al Ghurair Iron & Steel increased its hot-dipped galvanized coil prices by $20 per tonne with immediate effect on Monday, March 25.The company is offering 1mm thick HDG with 275 grams per square meter zinc coating at $824 per tonne ex-works for June production from Monday, up from the previous $804 per tonne ex-works.Th...Read More
Turkish steel mills added two more cargoes to round off last week's activity before going quiet in the deep-sea scrap markets after the government's response to Donald Trump's Golan Heights comments. A steel producer in the Marmara region booked a US cargo, comprising 35,000 tonnes of HMS 1&2 (80:20) at $323 per tonne cfr and 5,000 tonnes of bonus at $333 per tonne late on Friday March 22.The same...Read More
Turkish domestic auto-bundle scrap prices have gone up over the past seven days, while ship scrap prices fell because the country's lira has weakened against the US dollar, sources said on Monday March 25.Fastmarkets' weekly price assessment for domestic auto-bundle (DKP-grade) scrap in Turkey was TRY1,700-1,870 ($295-324) per tonne delivered on Monday, widening upward from last week's TRY1,700-1,...Read More
Vale's Brucutu iron ore mine in Brazil will not resume normal operations as early as was intended, the Brazilian miner said on Monday March 25.A civil court ruled on March 22 that operations should halt at several tailings dams, one of which is used by the mine, in the south-eastern state of Minas Gerais.The dams affected by the decision were Paracatu, Lavra Azul, Dic??o Leste, Mosquito, Cobras, B...Read More
Physical iron ore prices were rangebound on Monday March 25 amid mixed news about Australian and Brazilian supplies.MB 62% Fe Iron Ore Index: $85.81 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.93 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87.40 per tonne cfr Qingdao, down $0.95 per tonne. MB 58% Fe Premium Index: $7...Read More
Seaborne coking coal prices fell across the board on Monday March 25 after lower offers emerged in the market.A cargo of premium mid-vol hard coking coal was offered at $209 per tonne fob Australia, while two shipments of lower-ranked brands in the same category were offered around $201-203 per tonne cfr China, according to various sources.In the meantime, a cargo of lower-ranked second-tier hard...Read More