The European ferro-molybdenum market, which climbed almost 2.5% in trading a week ago, has pared gains since Friday in line with a drop in demand.Suppliers said there is plenty of alloy available if needed amid negligible levels of consumer demand and they have cut their offer prices as a result.The ferro-molybdenum, basis 65%, in-warehouse Rotterdam price has dropped 20 cents to $29.20-29.40 per...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday December 12 pricing session in Europe. Key drivers European suppliers booked several sales in the past week, narrowing the price range to 50 cents.European market sources said there was downward market pressure from Russian suppliers, but those suppliers have reported doing deals around the middle of the current European price range.European market expected to be stabl...Read More
Turkish steel producers extended their absence in the deep-sea scrap markets into Wednesday December 12 because of limited demand for finished steel products, sources told Fastmarkets MB.Mills in the country have been refraining from scrap purchases for more than two weeks now - only a single cargo has been booked since November 23.Demand for steel products, especially rebar, has been and remains...Read More
Key data from the Wednesday December 12 pricing session in Europe. Key drivers European suppliers booked several sales in the past week, narrowing the price range to 50 cents.European market sources said there was downward market pressure from Russian suppliers, but those suppliers have reported doing deals around the middle of the current European price range.European market expected to be stabl...Read More
Comex copper prices were unchanged during trading on Wednesday December 12 amid market hesitation after the latest round of global trade developments.The copper price for March settlement on the Comex division of the New York Mercantile Exchange was flat at $2.7670 per lb.Sentiment in commodity markets received a boost from the news that China plans to slash import tariffs on US automobiles from 4...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Wednesday December 12, with average gains of 0.3%. This after the complex climbed by an average of 0.4% on Tuesday, which followed Monday's test of support levels - that held.This morning's gains were fairly tightly bunched with prices rising between 0.2% for aluminium and 0.6% for nickel. The e...Read More
Brazilian pre-operational miner Sigma Lithium Resources expects the premium for high-quality lithium hydroxide monohydrate that goes into battery production to rise in the next few years while demand for electric vehicles (EVs) grows, vice-chairman Ana Cabral told Fastmarkets. "We believe prices for technical grade lithium hydroxide, at 56.5%, will fall further from now on, but premium for 90% con...Read More
Glencore has flagged customer non-performance on some of its cobalt sales in the second half of the year - a time when hydroxide supplies have ramped up and realized prices for metal, sulfate and intermediates have fallen. "We've seen some customer contractual non-performance in a weaker H2 pricing market for cobalt, which has fallen from obviously quite high levels in the first half [and has] com...Read More
Trading activity in China's export hot-rolled coil market was subdued on Wednesday December 12 as buyers adopted a wait-and-see position amid rising domestic prices.DomesticEastern China (Shanghai): 3,750-3,770 yuan ($543-546) per tonne, up 40-50 yuan per tonneNorthern China (Tianjin): 3,580-3,600 yuan per tonne, up 40-50 yuan per tonnePrices in Shanghai were higher amid stronger trading. While pr...Read More
China's ferrous futures fell during morning trading on Wednesday December 12, while sentiment remains largely bearish in both the steel and the coke physical markets.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,341 yuan ($483.90) per tonne, down 16 yuan per tonneMay hot-rolled coil: 3,329 yuan per tonne, down 1 yuan per tonneDalian Commodity Exchange&nb...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil declined over the past week, resuming their previous downtrend amid weak foreign demand and lower offers from mills. Both prices were previously in a two-month slump, but stopped falling in the week ended December 4 when Chinese domestic steel markets rebounded as a result of easing trade tensions between China and the Unite...Read More
Hollow steel sections prices in Europe remained flat this week while the market mulled the implications of reaching the import quota limit, market participants said.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week at ?,?635-650 ($721-738) per tonne delivered on Wednesday December 12.The hollow sectio...Read More
European prices for mesh-quality wire rod stayed flat across the Northern and Southern parts of the continent on Wednesday December 12, with the EC's import quota now more than 90% filled.Fastmarkets MB's weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($613-636) per tonne delivered on Wednesday.The European Commission's import...Read More
The price for rebar produced and delivered in Southern Europe was flat on Wednesday December 12, with no buying ahead of the holidays and while the EC's import quotas run dry.Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe stayed at ?,?530-540 ($602-613) per tonne delivered on Wednesday, with no new business now expected before the New Year and little before the Febr...Read More
Turkish steel producers extended their absence in the deep-sea scrap markets into Wednesday December 12 because of limited demand for finished steel products, sources told Fastmarkets MB.Mills in the country have been refraining from scrap purchases for more than two weeks now - only a single cargo has been booked since November 23.Demand for steel products, especially rebar, has been and remains...Read More
Seaborne iron ore prices increased moderately on Wednesday December 12 following a pick-up in China's spot steel prices. MB 62% Fe Iron Ore Index: $66.73 per tonne cfr Qingdao, up $0.76 per tonne. MB 62% Fe Pilbara Blend Fines Index: $66 per tonne cfr Qingdao, up $0.76 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $71 per tonne cfr Qingdao, up $1.32 per tonne. MB 58% Fe Premium Index: $59.92 pe...Read More
The launch of a high-grade iron ore derivative by the Singapore Exchange last week represents a "leap forward for the [ferrous] industry, particularly those that are exposed to the high-grade product," according to Andrew Glass, head of iron ore trading at Anglo American.SGX launched the world's first high-grade iron ore derivative contract, settled against the daily MB 65% Fe Iron Ore Index publi...Read More
Iranian export billet and slab prices continued to fall this week, with sanctions leading suppliers to cut offers, but with little success.Billet offers from Iran were heard at $395-405 per tonne fob, depending on the producer, down from $405-412 per tonne fob last week.However, most customers have held back from purchasing Iranian material."It is too risky to buy Iranian steel...Read More
CIS export billet price dropped further on Wednesday December 12 with negative sentiment in the market curbing trading activity."People are just scared to buy because they know that tomorrow they will be able to get a lower price," a trader said.Most market...Read More