China's rebar prices dropped on Wednesday February 13 in both the domestic and export markets on pessimistic sentiment amid futures and billet losses. Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($560-566) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, down 20 yuan per tonneTangshan billet prices decreased due to weakening demand and lower&nb...Read More
China's steel futures fell during morning trading on Wednesday February 13, while those of steelmaking raw materials moved sideways.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,731 yuan ($550.30) per tonne, down 18 yuan per tonneMay hot-rolled coil: 3,636 yuan per tonne, down 11 yuan per tonneDalian Commodity Exchange May iron ore: 623 yuan per ton...Read More
Prices for domestic hollow steel sections in Europe were unchanged on Wednesday February 13, with the market seemingly paralyzed by uncertainty over EU import tariffs and quotas, sources told Fastmarkets.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week at ?,?630-640 ($712-723) per tonne delivered on Wedn...Read More
The process to exclude steel and aluminium from the Section 232 import tariffs applied by the United States is having some interesting consequences.One of these is that, in the event of a national security issue -which Section 232 was designed to address - the US would theoretically rely on Japan for its imports of steel and Saudi Arabia for its imports of aluminium.That is because those countries...Read More
Vale has signed an agreement with the municipal government of Vit??ria, capital of Brazil's south-eastern state of Esp?-rito Santo, to resume operations of pellet plants and port logistics at Tubar??o, the miner said on Wednesday February 13.The municipality previously ordered the company to stop water treatment processes at the site on February 8, which prompted the halt of pellet plants 1 throug...Read More
The outlook for the Brazilian mining industry has become very murky following a major accident in one of Vale's mines and the consequent increased scrutiny on operations by authorities, according to analysts.After Vale, the world's largest iron ore producer, announced it would be taking40 million tonnes per year (tpy) off its output to decommission older tailings dams, local regulators c...Read More
The process to exclude steel and aluminium from the Section 232 import tariffs applied by the United States is having some interesting consequences.One of these is that, in the event of a national security issue -which Section 232 was designed to address - the US would theoretically rely on Japan for its imports of steel and Saudi Arabia for its imports of aluminium.That is because those countries...Read More
Prices for domestic hollow steel sections in Europe were unchanged on Wednesday February 13, with the market seemingly paralyzed by uncertainty over EU import tariffs and quotas, sources told Fastmarkets.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week at ?,?630-640 ($712-723) per tonne delivered on Wedn...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday February 13, with a late-afternoon appreciation in the US dollar index contributing to dampened buying sentiment while LME volumes remain low. Copper futures continued to trade in positive territory throughout the afternoon, despite falling over 3% from last week's high of $6,289.50 per tonne on...Read More
Well-stocked US tin customers ordered little material in the week ended Tuesday February 12, while in Europe available tin did not necessarily meet customers' specifications and most Chinese market participants were still away for the Lunar New Year public holiday, all factors keeping global premiums flat. US solder-makers said to be facing weak demand, buying less tin Europe still grapples...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 12 that are worth another look.Heavy highland rains in South America's Andean region prompted mining companies to temporarily halt some copper operations in northern Chile and southern Peru from Friday February 8, before resuming full capacity by February 12. Turkish miner Eti Elektrometalurji has moved into t...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday February 13, with a late-afternoon appreciation in the US dollar index contributing to dampened buying sentiment while LME volumes remain low. Copper futures continued to trade in positive territory throughout the afternoon, despite falling over 3% from last week's high of $6,289.50 per tonne on...Read More
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 original deadline was February 19. Initial feedback from members, clients and affiliates suggested they favored a longer period to consider the questions posed in the original market engagement notice, which was...Read More
Iron ore prices largely continued to soften on Wednesday February 13 with no further supply disruptions from Brazil confirmed, but two cargoes of Brazilian Blend fines (BRBF) traded at stronger levels.MB 62% Fe Iron Ore Index: $87.22 per tonne cfr Qingdao, down $0.43 per tonne. MB 62% Fe Pilbara Blend Fines Index: $88.06 per tonne cfr Qingdao, down $0.43 per tonne. MB 62% Fe Iron Ore Index-Low Alu...Read More
European prices for mesh-quality wire rod stayed flat across the continent on Wednesday February 15, with some buyers facing high costs for imports from Turkey in recent days because the European Commission's safeguard import quota has already been fully taken up.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Northern and Southern Europe stayed at ?,?530-550 ($599...Read More
Vale has signed an agreement with the municipal government of Vit??ria, capital of Brazil's south-eastern state of Esp?-rito Santo, to resume operations of pellet plants and port logistics at Tubar??o, the miner said on Wednesday February 13.The municipality previously ordered the company to stop water treatment processes at the site on February 8, which prompted the halt of pellet plants 1 throug...Read More
Zinc premiums remained unchanged across all markets this week, apart from Shanghai and Italy, despite more relaxed three-month spreads and weaker zinc prices, while lead premiums stayed flat everywhere on low spot trading interest. LME three-month zinc spreads now at contango after a multi-month long backwardation Softened zinc prices have not boosted spot interest and premiums as deals...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday February 13:Aluminium scrapCommercial pure cuttings: ?1,010-1,050 per tonne from ?1,020-1,050...Read More
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 original deadline was February 19. Initial feedback from members, clients and affiliates suggested they favored a longer period to consider the questions posed in the original market engagement notice, which was...Read More
Southern Copper Corporation (SCC) expects to increase its output of copper, zinc and molybdenum in 2019 via bringing new operations to full capacity, chief financial officer Ra??l Jacob said.The company forecasts mined copper output of 986,700 tonnes in 2019 following the start of operations at a new concentrator at its Toquepala mine, which should reach full production of 100,000 tonnes per year...Read More