Iranian billet and slab producers continued to reduce their export prices to try and attract customers put off by US trading sanctions.The number of foreign buyers willing to deal with shipments from Iran has steadiliy decreased since the implementation of sanctions by the United States in August 2018. In Gulf Co-operation Council Countries (GCC), and in the UAE in particular (which used to be one...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 23, after the previous week's price reductions failed to spark an increase in activity.Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe stayed at $530-550 ($602-625) per tonne delivered on Wednesday. The contract dipped from $540-560 per tonne a week ago.Few deals were repor...Read More
The coking coal and coke contracts led the uptrend in the Chinese ferrous futures market during the morning trading session on Wednesday January 23.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,638 yuan ($534) per tonne, up 1 yuan per tonneMay hot-rolled coil: 3,560 yuan per tonne, up 5 yuan per tonneDalian Commodity Exchange May iron ore: 528 yuan per tonne, up 0...Read More
Iranian billet and slab producers continued to reduce their export prices to try and attract customers put off by US trading sanctions.The number of foreign buyers willing to deal with shipments from Iran has steadiliy decreased since the implementation of sanctions by the United States in August 2018. In Gulf Co-operation Council Countries (GCC), and in the UAE in particular (which used to be one...Read More
Delays began to form at the London Metal Exchange's warrant depository this week after large amounts of warrants were being cancelled, sources told Fastmarkets MB.There were delays of up to five hours at the depository on Tuesday January 22, market sources said. As a result, the LME closed the depository early due to a backlog and stopped accepting further cancellations, a second source said.The L...Read More
Zinc futures on the London Metal Exchange led gains at the close of trading on Wednesday January 23 with its three-month price continuing to trade above $2,600 per tonne, while the rest of the complex trends higher against a softer dollar index. After a fresh cancelation of more than 22,000 tonnes resulted in most of European LME zinc's stock - principally held in LME-listed warehouses in Rotterda...Read More
Tin premiums in Europe, the United States and China remained flat in the week beginning Monday January 21, amid continued uncertainty about delays to exports from Indonesia, while a lack of spot market activity, higher prices and a wide backwardation continued to deter investment in the tin sector. European tin participants' concerns mountUS markets beginning to feel supply pinchChina quiet ahead...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 23 that are worth another look.The London Metal Exchange's warrant depository has begun to show delays after large amounts of warrants were canceled, sources told Fastmarkets MB. More than 130,000 tonnes of aluminium was freshly canceled on the exchange over the past two days, with traders expecting...Read More
Former BHP Billiton director John Crofts has joined Ocean Partners in Australia to help develop new opportunities in the base and precious metals concentrate market, Fastmarkets learned on Wednesday January 23.Crofts, who will be based in Melbourne, will focus on the regions of Australia and Southeast Asia.He worked at BHP Billiton for 23 years until June 2010, when he joined copper and gold...Read More
Delays began to form at the London Metal Exchange's warrant depository this week after large amounts of warrants were being cancelled, sources told Fastmarkets MB.There were delays of up to five hours at the depository on Tuesday January 22, market sources said. As a result, the LME closed the depository early due to a backlog and stopped accepting further cancellations, a second source said.The L...Read More
Zinc futures on the London Metal Exchange led gains at the close of trading on Wednesday January 23 with its three-month price continuing to trade above $2,600 per tonne, while the rest of the complex trends higher against a softer dollar index. After a fresh cancelation of more than 22,000 tonnes resulted in most of European LME zinc's stock - principally held in LME-listed warehouses in Rotterda...Read More
The Comex copper price failed to rebound on Wednesday January 23 with technical selling continuing to weigh on the red metal. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.05 cents to $2.6590 per lb. Persistent worries over the unresolved trade war between the United States and China are keeping...Read More
Vitol has wound down its alumina trading operations following the departure of head trader Philip Blanchard, it said.Blanchard, who was based in London, became head trader for the Switzerland-based energy and commodities firm's alumina book in 2016 following the departure of Roger Pillai.Blanchard has not been replaced at Vitol; the company said it will focus on energy and related products an...Read More
Prices for hollow steel sections in Northern Europe moved downward on Wednesday January 23 due to falling costs for feedstock materials, market participants have told Fastmarkets.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?5 per tonne to ?,?630-640 ($716-727) per tonne delivered on January 23, from ?,?635-645 ($726...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 23 that are worth another look.The London Metal Exchange's warrant depository has begun to show delays after large amounts of warrants were canceled, sources told Fastmarkets MB. More than 130,000 tonnes of aluminium was freshly canceled on the exchange over the past two days, with traders expecting...Read More
Aluminium producer Hydro's casthouse in Henderson, Kentucky, has been put out of operation after an explosion Wednesday January 23 damaged its melting furnace.It is unclear how many weeks the plant, which has production capacity of 90,000 tonnes per year of secondary aluminium billets, will be out of operation,...Read More
China's imported volumes of copper scrap in 2018 went down by almost one-third from the year before, following the implementation of various scrap import barriers and a tariff on material from major supplier the United States.More copper concentrate was shipped to the country in 2018 compared with 2017, however.The quantity of Chinese copper scrap imports fell by 32.2% year-on-year to 2.4 million...Read More
Former BHP Billiton director John Crofts has joined Ocean Partners in Australia to help develop new opportunities in the base and precious metals concentrate market, Fastmarkets learned on Wednesday January 23.Crofts, who will be based in Melbourne, will focus on the regions of Australia and Southeast Asia.He worked at BHP Billiton for 23 years until June 2010, when he joined copper and gold...Read More
Flat steel sales volumes from Brazilian distributors dropped by 17.3% year on year in December 2018, due to lower international prices and a number of holiday absences during the month.Brazilian flat steel domestic shipments amounted to 188,600 tonnes, compared with 228,200 tonnes in December 2017, according to figures released by national flat steel association Inda on Tuesday January 22.Clients...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 23, after the previous week's price reductions failed to spark an increase in activity.Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe stayed at $530-550 ($602-625) per tonne delivered on Wednesday. The contract dipped from $540-560 per tonne a week ago.Few deals were repor...Read More