Three-month base metals prices on the London Metal Exchange exhibited mixed movements whileconsolidating this morning, Thursday January 17. Copper, nickel, lead and zinc were down by between 0.1% and 0.5%, while aluminium and tin prices were up by 0.3% and 0.4% respectively. The three-month copper price was off by 0.1% at $5,973 per tonne.Volume across the LME base metals complex was above average...Read More
The London Metal Exchange will launch a new cash-settled cobalt contract on March 11, settled against the benchmark standard-grade cobalt price assessed by Fastmarkets. The final settlement price will be an arithmetic average of the twice-weekly Fastmarkets standard-grade cobalt price in the expiring contract month. Fastmarkets achieved type 1 IOSCO assurance for its standard-grade cobalt price in...Read More
Domestic prices for hot-dipped galvanized (HDG) coil in Europe have been stable over the past week because market activity has not recovered fully after the new year holidays in the EU, sources told Fastmarkets on Thursday January 17.The prices for HDG, however, might move up due to the effects from the imposition of definitive measures in the safeguard case on steel product imports by the Europea...Read More
Domestic prices for cold-rolled coil (CRC) in Southern Europe have moved downward over the past week due to the slowness of the market, sources told Fastmarkets on Thursday January 17.The outlook remained negative because demand was likely to remain low and there will be reduced support because of the upcoming definitive measures in the European Commission's (EC) safeguard case against steel produ...Read More
Domestic prices for hot-rolled coil (HRC) in the EU were expected to move down slightly while trading activity remained slow, sources told Fastmarkets on Thursday January 17.In addition, the definitive decision in the safeguard investigation by the European Commission (EC) is expected to have little effec on the HRC market, according to market sources. So EU mills are unlikely to achieve any price...Read More
European steel association Eurofer is concerned that the definitive measures in the European Commission's safeguard case against steel product imports will not be enough to protect the region's markets from material redirected from the United States."While we welcome this endorsement, we are nevertheless worried that the form of the final measures may undermine their intended safeguarding function...Read More
Domestic rebar and wire rod prices in Turkey have continued to weaken in line with the poor demand over the past seven days, sources told Fastmarkets on Thursday January 17.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY2,800-2,830 ($519-525) per tonne ex-works on Thursday, down from last week's TRY2,880-2,930 per tonne, including 18% VAT.The local rebar price in...Read More
The Turkish long steel export markets remained weak in the middle of the month under pressure from rising scrap costs, while demand in the export and domestic markets was sluggish, sources said on Thursday January 17.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $435-440 per tonne fob on an actual weight basis on Thursday, narrowing downward from last week's...Read More
Trading activity in the pig iron export market from the Commonwealth of Independent States (CIS) resumed in the week ended Thursday January 17 but at reduced prices, due to falls in the scrap markets in the United States and Italy.Fastmarkets' price assessment for CIS exports of high-manganese pig iron narrowed downward to $320-330 per tonne fob Black Sea on January 17, from $320-335 per tonne a w...Read More
Turkish steel producers have resumed their deep-sea scrap purchases for January-February at higher prices, sources said on Thursday January 17.Suppliers were seeking higher prices for their scrap because of the rise in collection costs during the difficult winter season, sources said.A steel producer in the Marmara region booked a Canadian cargo, comprising 17,000-20,000 tonnes of HMS 1&2 (90:10),...Read More
Physical iron ore buying was lackluster on Thursday January 17, despite fixed-price seaborne cargoes of Pilbara Blend fines trading at higher prices.MB 62% Fe Iron Ore Index: $74.55 per tonne cfr Qingdao, up $0.24 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.20 per tonne cfr Qingdao, up $0.75 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.92 per tonne cfr Qingdao, down $0.13 per tonne...Read More
The Turkish billet markets remained weak over the past seven days due to limited demand, sources said on Thursday January 17.Fastmarkets' weekly price assessment for domestic billet in Turkey was $416-425 per tonne ex-works, slightly widened down from last week's $420-425 per tonne.Long steel producer Kardemir opened its domestic billet sales at...Read More
Steel billet import prices and local rebar prices in Egypt were stable this week on subdued demand, sources told Fastmarkets on Thursday January 17.Fastmarkets' weekly price assessment for steel billet imported into Egypt was unchanged on Thursday at $425-430 per tonne cfr.Billet producers from the Commonwealth of Independent States (CIS) were offering material...Read More
The import price for steel billet in Southeast Asia edged down on Thursday January 17 amid lower bids from buyers who expect further price drops, although trading activity has picked up in the region this week.Fastmarkets' daily import price assessment for billet in Southeast Asia was $445-448 per tonne cfr Manila on Thursday, narrowing downward by $2 per tonne on the high end from $445-450 per to...Read More
China's ferrous futures experienced a slight uptick on Thursday January 17 across the board, with steel contracts maintaining their strength from a day earlier.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,557 yuan ($526) per tonne, up 5 yuan per tonneMay hot rolled coil: 3,464 yuan per tonne, up 16 yuan per tonne Dalian Commodity Exchange May iron ore: 513 yuan p...Read More
The number of new passenger car registrations in the EU decreased 8.41% year-on-year in December 2018, the European Automotive Manufacturers Association (ACEA) said on Wednesday January 16.New car sales in Europe totaled 998,503 units in December 2018, compared with 1,090,190 vehicles sold in the corresponding month of 2017."The EU passenger car market declined for the fourth month in a row. Last...Read More
China's ferrous futures experienced a slight uptick on Thursday January 17 across the board, with steel contracts maintaining their strength from a day earlier.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,557 yuan ($526) per tonne, up 5 yuan per tonneMay hot rolled coil: 3,464 yuan per tonne, up 16 yuan per tonne Dalian Commodity Exchange May iron ore: 513 yuan p...Read More
China's ferrous futures experienced a slight uptick on Thursday January 17 across the board, with steel contracts maintaining their strength from a day earlier.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,557 yuan ($526) per tonne, up 5 yuan per tonneMay hot rolled coil: 3,464 yuan per tonne, up 16 yuan per tonne Dalian Commodity Exchange May iron ore: 513 yuan p...Read More
Domestic prices for hot-dipped galvanized (HDG) coil in Europe have been stable over the past week because market activity has not recovered fully after the new year holidays in the EU, sources told Fastmarkets on Thursday January 17.The prices for HDG, however, might move up due to the effects from the imposition of definitive measures in the safeguard case on steel product imports by the Europea...Read More
Domestic prices for cold-rolled coil (CRC) in Southern Europe have moved downward over the past week due to the slowness of the market, sources told Fastmarkets on Thursday January 17.The outlook remained negative because demand was likely to remain low and there will be reduced support because of the upcoming definitive measures in the European Commission's (EC) safeguard case against steel produ...Read More