Import prices for stainless steel in East Asia continued to rise during the past week with mills increasing their offers again amid costlier nickel, although spot trading activity remained sluggish amid the Lunar New Year lull.Fastmarkets MB's weekly import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,980-2,080 per tonne cif on Wednesday February 13, up $40-5...Read More
Detailed data for Chinese trade is still not available, but there are indications that the East Asian country may have become the biggest importer of pig iron in Asia last year, according to Fastmarkets' research team.We pointed out in June last year that the Chinese import pig iron market might revive to fill the widening gap between iron and steel production in China, alongside ferrous scrap.Hon...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) strengthened further during the week ended Thursday February 14 because buyers in the United States, the key outlet, started to accept higher offer prices.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $335-340 per tonne fob Black Sea on February 14, up from $325-335 per tonne fob Black...Read More
Domestic prices for cold-rolled coil (CRC) in Europe have been largely stable over the past seven days but are expected to rise soon, sources told Fastmarkets this week.Transaction prices are expected to slowly rise, supported by upward momentum in hot-rolled coil feedstock prices, according to market participants, after some European steelmakers - including ArcelorMittal...Read More
Domestic prices for hot-dipped galvanized (HDG) coil in Europe have been largely stable over the past week, but were expected to increase with support from the definitive measures applied after a regional safeguard investigation, sources told Fastmarkets on Thursday February 14.The European Commission (EC) has imposed definitive safeguard measures on a list of imported steel products, in the form...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday February 14, with a collective trend of dwindling LME stocks failing to prompt upward price action while volumes traded remain moderate. Nickel's three-month price was the biggest downward move over the afternoon, with its price action down 1.6% amid continued negative risk-appetite, while dollar...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 14 that are worth another look.The Singapore Exchange said its new high-grade iron ore futures, which are settled against the Fastmarkets MB 65% Fe Iron Ore Index, have seen over 3 million tonnes worth of transactions since its December 3 launch involving 30 market participants. There are indications that China mi...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday February 13 that are worth another look.The London Metal Exchange has extended the consultation period regarding its proposals on pre-trade transparency to March 1, it said in a note to members on Wednesday February 13.The process to exclude steel and aluminium from the Section 232 import tariffs applied by the United Sta...Read More
Detailed data for Chinese trade is still not available, but there are indications that the East Asian country may have become the biggest importer of pig iron in Asia last year, according to Fastmarkets' research team.We pointed out in June last year that the Chinese import pig iron market might revive to fill the widening gap between iron and steel production in China, alongside ferrous scrap.Hon...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday February 14, with a collective trend of dwindling LME stocks failing to prompt upward price action while volumes traded remain moderate. Nickel's three-month price was the biggest downward move over the afternoon, with its price action down 1.6% amid continued negative risk-appetite, while dollar...Read More
The US copper price failed to rebound on Thursday morning in the United States, while market participants hold back from being too optimistic about recent developments in US and Chinese trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.65 cents to $2.7665 per lb.Positive sentiment surrounding US-China trade is also beginning to man...Read More
Seaborne iron ore prices nudged up on Thursday February 14 with traders heard taking cargoes, although buying from Chinese mills remained limited.MB 62% Fe Iron Ore Index: $88.32 per tonne cfr Qingdao, up $1.10 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.71 per tonne cfr Qingdao, down $0.35 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.61 per tonne cfr Qingdao, down $0.03 per tonne....Read More
Domestic buyers of hot-rolled coil (HRC) in Northern Europe have been resisting attempts to raise offer prices this week, sources told Fastmarkets on Thursday February 14.Transaction prices, however, were expected to rise in the near future, supported by higher offers for imported coil and increases in raw material costs, according to market participants."Prices have stabilized. The mills [in Nort...Read More
Detailed data for Chinese trade is still not available, but there are indications that the East Asian country may have become the biggest importer of pig iron in Asia last year, according to Fastmarkets' research team.We pointed out in June last year that the Chinese import pig iron market might revive to fill the widening gap between iron and steel production in China, alongside ferrous scrap.Hon...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 14 that are worth another look.The Singapore Exchange said its new high-grade iron ore futures, which are settled against the Fastmarkets MB 65% Fe Iron Ore Index, have seen over 3 million tonnes worth of transactions since its December 3 launch involving 30 market participants. There are indications that China mi...Read More
Global copper demand will outpace supply growth or at least stay in a tight balance for at least two to three years, according to the chief executive officer of Brazilian copper producer Paranapanema, Marcos Camara. "Even with concentrators expected to start operating in the next years, demand should keep growing at a healthy speed and there is a large number of mines heading to depletion around t...Read More
The US copper price failed to rebound on Thursday morning in the United States, while market participants hold back from being too optimistic about recent developments in US and Chinese trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.65 cents to $2.7665 per lb.Positive sentiment surrounding US-China trade is also beginning to man...Read More
The copper industry's next major mine is a step closer to bringing its first tonnes to market.First Quantum has started crushing and milling ore at its Cobre Panama mine, which is targeting 150,000 tonnes of copper in concentrate production this year, starting in the first quarter.The mine, which is set to ramp up to 270,000-300,000 tonnes per year in 2020 and 350,000 tpy...Read More
Teck Resources' zinc business became less profitable in 2018 because of falling sales and declines in commodity prices, according to its annual earnings statement released on Wednesday February 13. Last year, the Canadian miner made a gross profit before amortization and depreciation of C$1.085 billion ($817.73 million) from the zinc business, down by 7.5% year on year.The company, which operates...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Thursday February 14, with positive market sentiment emerging amid stronger than expected Chinese trade data, while US-China trade talks indicate a potential resolution.Climbing just under 1% this morning, copper's three-month price continues to trade comfortably above $6,100 per tonne, while LME stocks co...Read More