Domestic Turkish rebar and wire rod prices increased over the past week, mainly in as a result of the Turkish lira losing value against the US dollar, sources said on Thursday March 7.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,100-3,150 ($573-583) per tonne ex-works on Thursday, up from the TRY2,950-3,050 per tonne of last week, including 18% VAT.The local rebar pri...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday March 7 that are worth another look.UC Rusal's net profit rose by 39% year on year in 2018 despite the aluminium producer operating under trading sanctions imposed by the United States for the majority of the year, Rusal said in its results statement on Thursday March 7. Fastmarkets summarizes six hot topics that will like...Read More
The Comex copper price continued to drift on Thursday March 7 with uncertainty around US-China trade talks forcing market participants to retreat and delay any serious price action. The copper price for May settlement on the Comex division of the New York Mercantile Exchange declined 1.15 cents to $2.9070 per lb. Additionally, European buying was lackluster ahead of the European Central Bank's pol...Read More
UC Rusal's net profit rose by 39% year on year in 2018, despite the aluminium producer operating under trading sanctions imposed by the United States for the majority of the year, Rusal said in its results statement on Thursday March 7. Rusal recorded a net profit of $1.689 billion compared with $1.222 billion in 2017. The company's revenue increased by 3.1% to $10.28 billion from $9.969 billion f...Read More
Base metals prices on the London Metal Exchange were predominantly lower during morning trading on Thursday March 7, with European buying lackluster ahead of the European Central Bank's policy meeting where Eurozone growth forecasts could face cuts amid the bloc's slowing economic progress.Bucking the trend however, the three-month lead price pushed higher over the morning, breaching $2,100 per to...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday March 07 *Copper -$172.72 (-1,161.42 yuan) Aluminium -$270.74 (-1,820.57 yuan) Zinc -$169.95 (-1,142.80 yuan) Nickel -$98.74 (-663.99 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker again this morning, Thursday March 7.With the exception of tin that was up by 0.5% and aluminium that was little changed, the rest of the complex were down between 0.2% for lead and 1.4% for nickel.Copper was off by 0.4% at $6,428 per tonne, compared with $6,455 per tonne at Wednesday's close, while nickel ha...Read More
Trade log for nickel 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. Fastmarkets MB prices Click here for Fastmarkets MB's price assessment...Read More
Reinforcing bar (rebar) steel prices have risen in the United States following late-February's mill hikes, while import prices have fallen following confirmed offers for Italian material. Fastmarkets' assessment for domestic rebar increased to $35.25-36.50 per hundredweight ($705-730 per short ton) fob mill on Wednesday March 6, up by 2.6% from $34.25-35.75 per cwt previously. At the same time, th...Read More
Turkish billet prices have remained firm over the past week with moderate demand in the export markets. But the domestic and import markets were comparatively weaker, sources said on Thursday March 7.Fastmarkets' weekly price assessment for billet exports was unchanged week on week at $450-460 per tonne fob on Thursday.The Turkish mills were heard to sell a number of billet cargoes for export this...Read More
The Turkish long steel export market remained weak over the past seven days on sluggish demand, while increasing raw materials costs continued to squeeze mill margins, sources told Fastmarkets on Thursday March 7.Fastmarkets' weekly price assessment for rebar exports out of Turkey remained unchanged at $470-480 per tonne fob on an actual weight basis.Steel producers in Turkey continued to offer re...Read More
Steel billet import prices in Egypt have increased over the past seven days with higher offers and deal prices, sources told Fastmarkets on Thursday March 7.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $470-475 per tonne cfr on Thursday, rising from $465-470 per tonne cfr last week.The rise can be attributed partly to a decree issued by Egypt's ministry of trade an...Read More
China's hot-rolled coil exporters were insisting on higher offer prices on Thursday March 7 despite the slight drop in the domestic spot market, with most sellers feeling little need to export.DomesticEastern China (Shanghai): 3,820-3,840 yuan ($569-572) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,750-3,770 yuan per tonne, down 20 yuan per tonneShanghai sellers began the...Read More
Turkish steel producers continued to replenish low stock levels by booking more deep-sea scrap at firm prices, sources told Fastmarkets on Thursday March 7.A steel mill in the Marmara region booked a US cargo comprising 32,000 tonnes of HMS 1&2 (80:20) at $322 per tonne, 5,000 tonnes of shredded at $327 per tonne and 3,000 tonnes of bonus at $332 per tonne cfr.This was...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 Ore Trading Center (Corex), 100,000 tonnes of 65% Fe Iron Ore Carajas, traded at $99.70 per tonne cfr China, laycan February 27-March 8.BHP, Global Ore, 80,000 tonnes of 62% Fe Jimblebar fines, traded at...Read More
Iron ore prices rose on Thursday March 7 in line with futures market gains following data releases showing a decline in steel inventories in the market. MB 62% Fe Iron Ore Index: $87.61 per tonne cfr Qingdao, up $0.56 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.01 per tonne cfr Qingdao, up $0.56 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $90.01 per tonne cfr Qingdao, up $0.93 per ton...Read More
The seaborne coking coal spot market moved sideways on March 7 following trades that concluded at similar levels compared with previous trades in the week.A cargo of premium mid-vol hard coking coal cargo changed hands at $210.75 per tonne fob Australia, up $0.75 per tonne from a similar cargo that traded earlier in the week, sources said.Meanwhile, there was talk in the market that rail operation...Read More
Domestic stainless steel prices in China maintained their upward trend over the past week on higher nickel prices and strengthening demand.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,100-15,500 yuan ($2,249-2,309) per tonne including value-added tax for the week ended Wednesday February March 6, up 400 yuan per tonne fr...Read More
Base metals prices on the Shanghai Futures Exchange dipped slightly during morning trading on Thursday March 7, with nickel leading the losses. However, copper bucked the trend amid a positive outlook for the red metal.SHFE base metals prices showed slight losses this morning, pressured by the stronger dollar, which was at 96.86 this morning at 10.20am Shanghai time.This compares with the dol...Read More
Global zinc premiums have been little changed over the past week with a worsening Chinese import arbitrage distorting the marketplace for the world's largest base metals consumer, Fastmarkets heard on Wednesday March 6. European zinc premiums near October 2010 lowUS markets stable with lead and zinc demand healthyChinese markets suffering from arbitrage window. Northern European zinc premiums stay...Read More