The price for rebar produced and delivered in Southern Europe widened slightly on Wednesday November 21, although consumers remained unwilling to buy large volumes because questions persist about the European Commission's import quotas.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe widened upward to ?,?530-540 ($605-616) per tonne delivered on Wednesday, from ?,?530-535...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday November 21, with consumers not willing to commit to purchases during a time of uncertainty in the markets.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?550-560 ($628-639) per tonne delivered on Wednesday, unchanged now for three weeks, after producers resisted lowering...Read More
Domestic prices for steel beams in Europe were stable this week, although feedstock costs have started to fall, sources told Fastmarkets on Wednesday November 21.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-645 ($708-736) per tonne delivered on Wednesday, unchanged week on week.Fastmarkets' index for Northern European HMS...Read More
Prices for hollow steel sections in Northern Europe remained unchanged this week, even as feedstock prices continued to fall, Fastmarkets heard on Wednesday November 21. Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?640-660 ($731-753) per tonne delivered on November 21, unchanged week on week.Although feedstock prices co...Read More
Turkey produced 3.20 million tonnes of crude steel in October 2018, a 4.30% decrease compared with October 2017, according to the Turkish Steel Producers Association (T???oeD).In January-October 2018, crude steel production in the country was 31,289,000 tonnes, a 0.78% year-on-year rise compared with 31,048,000 tonnes produced in January-October 2017, T???oeD said this week.The country produced 10...Read More
Iranian suppliers of billet and slab continued to cut prices in the second half of November to attract customers.Although several bookings were heard done in the market, the majority of customers refrained from business with the Middle East supplier due to the difficulties stemming from sanctions imposed by the United States.On November 5 the US announced the second round of sanctions against Iran...Read More
Albemarle Corp has entered into an exclusive deal with Australian miner Mineral Resources (MRL) that may lead to the development of new battery-grade lithium hydroxide plant in Western Australia.The companies have agreed to consider the creation of a joint venture that would own and operate the Wodgina hard rock lithium mine and ultimately develop an integrated lithium hydroxide operation at the s...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday November 21:Noble alloysFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $ per kg Mo: $28.20-28.50 per...Read More
Key data from the Wednesday November 21 pricing session in Europe. Key drivers European suppliers resisted cutting prices or held off offering material altogether. The move follows a downward trend in alloy prices that started on September 12, when the market was assessed at $5.80-6.05 per kg, and stopped a couple of weeks ago.Alloy trading activity was generally quiet this week, with only deals...Read More
The London Metal Exchange is planning to launch a lithium contract in the second half of 2019 to meet growing demand from the electric vehicle industry, Fastmarkets learned during Asia Copper Week in Shanghai. The contract, announced as part of the exchange's Strategic Pathway in September 2017, will be settled against an index price, with Fastmarkets MB's lithium spot price index one of those bei...Read More
The Turkish steel producers have extended their absence from the deep-sea scrap markets due to sluggish demand for their finished steel products, sources told Fastmarkets on Wednesday November 21.In addition to their fears of renewed product outflows from China, the weakening local and export rebar prices have become another obstacle for the mills in Turkey.Rebar prices in China, in both the domes...Read More
Iron ore market participants took caution on Wednesday November 21 amid volatility in paper markets and continued drops in steel prices.MB 62% Fe Iron Ore Index: $74.06 per tonne cfr Qingdao, down $0.59 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.25 per tonne cfr Qingdao, down $0.59 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.06 per tonne cfr Qingdao, down $1.16 per tonne.MB 58% Fe...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreRio Tinto, bilateral sale, 170,000 tonnes of 61% Fe Pilbara Blend fines, traded at $72.22 per...Read More
The lull in the seaborne coking coal market persisted on Wednesday November 21 with Chinese end users maintaining a bearish outlook amid a drop in domestic coke prices in China."Our coking coal inventories are still at a moderate level of around half a month, hence we don't intend to procure any imported materials for the time being. Our selling price for coke will fall by 100 yuan ($14.40) per to...Read More
China's ferrous futures increased during morning trading on Wednesday November 21, with sentiment improving, especially when it came to steel contracts.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,686 yuan ($531) per tonne, up 63 yuan per tonneJanuary hot-rolled coil: 3,583 yuan per tonne, up 76 yuan per tonneDalian Commodity Exchange January iron ore: 511 yu...Read More
South Korea's Public Procurement Service (PPS) is seeking to procure 1,000 tonnes of special high-grade zinc, according to a notice posted on the state-owned stockpiling agency's website on Tuesday November 20.The tender is for London Metal Exchange-registered brands with purity of more than 99.995% for shipment to the South Korean port of Incheon on a cif basis. Bids close on November 28.The PPS...Read More
Base metals on the London Metal Exchange were all higher during morning trading on Wednesday November 21, with risk-averse investors capitalizing on lower prices earlier in the week amid a slight downturn in the US dollar and continued uncertainty over US-China trade relations.Climbing just under 1% over the morning, copper's three-month price pushed back above $6,200 per tonne while volumes remai...Read More
China's hot-rolled coil prices continued to fall on Wednesday November 21, breaking away from last week's stability, amid pessimism over the country's economic and industrial growth.DomesticEastern China (Shanghai): 3,760-3,780 yuan ($541-544) per tonne, down 30-40 yuan per tonneNorthern China (Tianjin): 3,690-3,710 yuan per tonne, down 70-80 yuan per tonneWhile HRC prices hovered above 3,800 yuan...Read More
The following Fastmarkets minor metals prices changed on Wednesday November 21:Minor metalsAntimony MB free market regulus, $ per tonne: $8,000-8,200 per tonne from $8,100-8,300Antimony MMTA standard grade II, $ per tonne: $7,900-8,100 per tonne from $8,050-8,250Antimony MB Chinese free market MMTA standard grade II, yuan per tonne: 50,000-50,500...Read More
Electric vehicle (EV) sales continue to see robust growth - the latest data from China shows NEV sales of 138,000 in October - up 50% from October 2017, according to the China Association of Automobile Manufacturers.Year to date, sales of 852,890 NEV s are up 116% from 394,759 units. Battery-only vehicles (BEV s) accounted for 80.4% of the sales, with plug-in hybrid (PHEV) sales making up 19.6% of...Read More