The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 9, although the European Commission's recent proposal for 2019 steel import tariffs has removed some of the uncertainty in the market. Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe remained at $540-560 ($618-641) per tonne delivered on Wednesday, with no new deals reporte...Read More
Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More
The gap between offers and bids in the export market for steel billet in the Commonwealth of Independent States (CIS) started to widen this week, with mills gradually trying to increase offers on reduced material availability.New offers were heard within the range of $405-415 per tonne fob Black Sea, depending on the mill and shipment time.Mills offering material for late-February and March shipme...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Prices for hollow steel sections in Europe moved down on Wednesday January 16, to the surprise of some market participants.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe narrowed downward by ?,?5 per tonne to ?,?635-645 ($726-738) delivered on January 16, from ?,?635-650 per tonne delivered on January 9.This was the first time t...Read More
Tin premiums in both Europe and China held firm in the week ended Tuesday January 15 despite mounting concerns over continued delays to Indonesian exports, while premiums in the United States moved higher for the first time since June 2018, with low stocks and a widening backwardation adding upward pressure to premiums. European market considers alternative supply solutions US market beginn...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 16 that are worth another look.European Union member states on Wednesday January 16 voted to support proposed definitive measures in the region's safeguard case into imported steel, the European Commission said.Hebei Steel, China's largest steel mill, cut its monthly purchase price for silico-manganese for a...Read More
Comex copper prices increased on Wednesday morning in the United States amid positive tailwinds from the Chinese stimulus news.Comex copper prices increased Wednesday morning in the US amid positive tailwinds from the Chinese stimulus news.The copper price for March settlement on the Comex division of the New York Mercantile Exchange climbed 3.10 to $2.6655 per lb.On Tuesday, China signaled its in...Read More
Base metals on the London Metal Exchange were predominantly higher during morning trading on Wednesday January 16, with a slight downturn in the US dollar index providing legroom for upward price action while nickel futures continue to gain traction. Despite being the only metal to trade in negative territory over the morning, nickel's three-month price remains elevated, trading at an intraday hig...Read More
Trading slowed down in the seaborne coking coal spot market on Wednesday January 16 after a flurry of transactions earlier in the week."I imagine [imported coking coal prices] to be more or less stable until the Chinese New Year. A price of $190 per tonne cfr China for premium hard coking coal is definitely cheaper compared with domestic materials," a Chinese trader said.A mill source in China con...Read More
Domestic prices for steel beams in Europe edged down on January 16, with the market beginning to show signs of weakness, sources told Fastmarkets.Fastmarkets MB's weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe fell by ?,?5 to ?,?620-640 ($709-723) per tonne delivered on January 16, down from ?,?620-645 per tonne on January 9."We expect lower prices...Read More
European prices for mesh-quality wire rod fell across the continent on Wednesday January 16, with offer prices slipping down while the market has been quiet in the first half of January.Fastmarkets MB's weekly domestic price assessment for mesh-quality wire rod in Northern Europe dipped to ?,?530-550 ($606-629) per tonne delivered on Wednesday, from ?,?540-560 per tonne a week previously. It's&nbs...Read More
Recent tightness in the spread of nickel prices should not be viewed as being driven by fundamentals, market participants said on Wednesday January 16, with falling physical nickel premiums representative of a well-supplied market.The London Metal Exchange's cash/three-month nickel price spread closed at a $9 per tonne contango on January 15, the tightest since May 2014 and down from $84 per tonne...Read More
Zinc's three-month price on the London Metal Exchange gained support at the close of trading on Wednesday January 16, with the rest of the complex following the upward trend amid a softer US dollar index and stable performances in US equity markets. Closing just below its nearby support level of $2,500 per tonne, zinc futures remain on the uptrend while total LME inventory continues to fall. On-wa...Read More
Global zinc and lead premiums were stable over the past week with Asian markets beginning to hold back from conducting business ahead of the Lunar New Year holiday in early February. China's import appetite was low with only some deals for bonded-warehouse cargoes European zinc premiums flat although backwardation largely easing off US market quiet once again Southeast Asian lea...Read More
Comex copper prices increased on Wednesday morning in the United States amid positive tailwinds from the Chinese stimulus news.Comex copper prices increased Wednesday morning in the US amid positive tailwinds from the Chinese stimulus news.The copper price for March settlement on the Comex division of the New York Mercantile Exchange climbed 3.10 to $2.6655 per lb.On Tuesday, China signaled its in...Read More
Participants in the European physical aluminium market were offering higher premiums on Wednesday January 16 on renewed concern about whether the United States will remove its sanctions on Russian aluminium producer UC Rusal.US senators moved forward a resolution on January 15 to prevent the US Treasury from removing the sanctions on Rusal, although this resolution could still face a final vote in...Read More
The London Metal Exchange is opening a market consultation period regarding its approach to pre-trade transparency, and has suggested three possible ways to meet the requirements set out by the European Union's MiFID II regulation, it said in a note to members on Tuesday January 15.The LME has a threefold approach to trading, which involves face-to-face trading in the physical ring, LMEselect's el...Read More
View the Fastmarkets holiday pricing schedule for 2019 and 2020. Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2019 and 2020.If you have any questions about Fastmarkets' pricing calendar, please contact Fastmarkets global base metals editor Perrine Faye at perrine.faye@fastmarkets.com...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 16 that are worth another look.European Union member states on Wednesday January 16 voted to support proposed definitive measures in the region's safeguard case into imported steel, the European Commission said.Hebei Steel, China's largest steel mill, cut its monthly purchase price for silico-manganese for a...Read More