A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday January 29.Please click...Read More
The three-month price of lead on the London Metal Exchange stood out as the most notable underperformer at the close of trading on Wednesday January 29, selling off more than 3% of its outright price to close at its lowest level since June 2019, while copper continued to struggle over the afternoon.Lead's underlying price on the LME closed at $1,832 per tonne on Wednesday afternoon, falling from a...Read More
Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on month at the end of December 2019, according to data released by major Japanese trading house Marubeni Corp.Aluminium stock levels at warehouses in Nagoya were at 139,000 tonnes at the end of December 2019, down from 151,200 tonnes the previous month. Total aluminium stocks at the three main Japanese ports (MJP) o...Read More
The three-month price of lead on the London Metal Exchange stood out as the most notable underperformer at the close of trading on Wednesday January 29, selling off more than 3% of its outright price to close at its lowest level since June 2019, while copper continued to struggle over the afternoon.Lead's underlying price on the LME closed at $1,832 per tonne on Wednesday afternoon, falling from a...Read More
The price of steel mesh-quality wire rod in the European domestic markets was unchanged this week, with participants anxious about how far ferrous scrap prices would fall, sources told Fastmarkets on Wednesday January 29.Ferrous scrap prices in Turkey climbed sharply between late November and mid-December but then remained steady until mid-January. The Turkish price is a benchmark for the regional...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on...Read More
Stainless steel scrap prices in the United States have weakened after the London Metal Exchange cash nickel price fell below the $6-per-lb mark."Speculation that China's economic growth will suffer significantly because of the virus outbreak has taken a toll on base metal prices, and nickel has not been immune [to the fall]," one major dealer source said, adding that "prices have reverse...Read More
I??igo P?(C)rez, vice president of Europe and Asia sales at Alcoa, will be leaving the aluminium producer after working there for 18 years, Fastmarkets understands. P?(C)rez, who handled aluminium product sales at Alcoa, will...Read More
Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on month at the end of December 2019, according to data released by major Japanese trading house Marubeni Corp.Aluminium stock levels at warehouses in Nagoya were at 139,000 tonnes at the end of December 2019, down from 151,200 tonnes the previous month. Total aluminium stocks at the three main Japanese ports (MJP) o...Read More
The Rotterdam uncut nickel cathode and US nickel briquette premiums rose in the week to Tuesday January 28 on firmer demand for the former and weaker supply of the latter, while premiums in China held firm with participants out of the market for the extended Lunar New Year break.The in-warehouse Rotterdam cut cathode premium rose at the top end of the range, with firmer demand enlivening spot sale...Read More
Hot-rolled coil prices in the United States again dropped below $30 per hundredweight ($600 per short ton) on fears that a negative ferrous scrap outlook for February could put the flat-rolled steel market under more pressure.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.98 per cwt ($599.60 per ton) on Wednesday January 29, down by 0.8% from...Read More
Prices were stable and trading activity was quiet this week in the European domestic rebar markets, with participants waiting to see how prices would develop in February, sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?490-500 ($540-551) per tonne on Wednesday, unchanged week on wee...Read More
Hollow steel sections prices in Europe were unchanged this week, despite increasing feedstock costs and quickly expiring import quotas, market sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-640 ($683-705) per tonne on Wednesday, unchanged week on week.Earlier in the month, mills and...Read More
The prices of steel H-beams in Europe were unchanged on Wednesday January 29 with mills working toward further price increases in February, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-580 ($606-639) per tonne on January 29, unchanged week on week.In recent weeks, producers have achieved higher H-beam prices to...Read More
Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More
Turkish deep-sea scrap import prices declined sharply once again, following the fresh United States' cargo deal heard on Wednesday January 29.A steel mill in the Marmara region booked a cargo of 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cfr, Fastmarkets was told. This would put the HMS 1&2 (80:20) price at $272 per tonne cfr, several market sources said. The US cargo was compared with the...Read More
Seaborne coking coal market remained inactive on Wednesday January 29, with top spot buyer China on an extended New Year break due to the outbreak of the coronavirus.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchanged ...Read More
The seaborne iron ore market was muted on Wednesday January 29, although market participants lowered their estimates for physical transaction prices in response to the sharp downward movement in the Singapore Exchange's derivatives for the steelmaking raw material a day earlier. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.84 per tonne, down $6.87 per tonne62% Fe low-alumina fines, c...Read More
Southeast Asian zinc premiums increased in the week to Tuesday January 28, with improved demand boosting spot activity, while dip-buying in the region's lead market failed to move premiums. The European and United States' zinc and lead markets remained flat. US zinc and lead premiums hold with slump in London Metal Exchange lead, while zinc futures fail to incite spot consumptionThe LME lead price...Read More
Upside potential in the London Metal Exchange three-month aluminium price was capped during morning trading on Wednesday January 29, dampened by a significant 26,525-tonne fresh inflow of material into LME-approved sheds in Port Klang, Malaysia.This was tempered by a 12,600-tonne outflow at the same time, 12,450 tonnes of which left Asian warehouses, and a further 17,825-tonne fresh cancelation in...Read More