A summary of base metals premiums from across the globe for the week to Tuesday January 14.Click on...Read More
Given the right impetus, copper has the best long-term prospects among the base metals complex, which was exhibited by the red metal's price rally in December.Copper prices began to rise on the London Metal Exchange in the run-up to year-end 2019, responding to the first signs of a thaw in the protracted trade war between the United States and China.The copper LME official three-month contrac...Read More
Domestic prices for hot-rolled coil in Northern Europe remained largely unchanged on Tuesday January 14, but sentiment remains positive, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe, was at ?,?442.70 ($492.63) per tonne on Monday January 14, down by 23 cents from ?,?442.93 per tonne on January 13.The index...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 14 that are worth another look.ArcelorMittal Kryvyi Rih, the major long steel producer in Ukraine, has called on the country's government to review its decision to impose an import tariff on rebar and wire rod steel imports from Belarus, referring to evidence of dumping.Nizi International has closed its base metals tradi...Read More
Silicon and bulk alloys producer Ferroglobe has appointed Marco Levi as its chief executive officer, replacing Pedro Larrea, who leaves the company to seek new professional challenges, according to a company statement on Monday January 13. The new chief executive will be in charge of designing a new strategy that will lead the ferro-alloys maker, which has recently moved its headquarters to Madrid...Read More
Starting in July this year, and for the first time, millions of tonnes of copper and aluminium scrap will be shipped into China not as waste but as merchandise, after the country announced its timetable for the renaming of high-purity non-ferrous scrap as recyclable materials.On Monday January 13, China's State Administration for Market Regulation said that the new specifications for secondary cop...Read More
London Metal Exchange copper bulls are turning to the options market to make cautious bets that copper's price will continue its rapid rise into March 2020, Fastmarkets learned.Open interest in March options has spiked and a total of 9,635 lots of call options - equivalent to over 240,000 tonnes of copper - are currently live with strike prices between $6,400 per tonne and $6,600 per tonne.Call op...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Tuesday January 14, settling at its highest price since April 2019 against moderate turnover, with lead futures the afternoon's top performer. Copper's outright price on the LME closed at $6,302 per tonne on Tuesday afternoon, breaching nearby resistance over the afternoon despite turnover only being mo...Read More
London Metal Exchange copper bulls are turning to the options market to make cautious bets that copper's price will continue its rapid rise into March 2020, Fastmarkets learned.Open interest in March options has spiked and a total of 9,635 lots of call options - equivalent to over 240,000 tonnes of copper - are currently live with strike prices between $6,400 per tonne and $6,600 per tonne.Call op...Read More
Seaborne iron ore prices strengthened further on Tuesday January 14 amid continued appreciation of the yuan against the dollar and lower shipments from Australia and Brazil. 62% Fe fines, cfr Qingdao: $97.03 per tonne, up $1.10 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $96.07 per tonne, up $1.10 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $97.53 per tonne, up $1.33 per tonne. 58% F...Read More
Fastmarkets proposes to discontinue the pricing of zinc ingot premiums on a cif India basis.Currently, Fastmarkets prices the following premiums:Zinc SHG min 99.995% ingot premium, cif dp India, $/tonne Zinc SHG min 99.995% ingot premium, cif dup India, $/tonneThe expansion of production capacity by Hindustan Zinc means there is currently no spot market for imported zinc in Ind...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Tuesday January 14, settling at its highest price since April 2019 against moderate turnover, with lead futures the afternoon's top performer. Copper's outright price on the LME closed at $6,302 per tonne on Tuesday afternoon, breaching nearby resistance over the afternoon despite turnover only being mo...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 14 that are worth another look.ArcelorMittal Kryvyi Rih, the major long steel producer in Ukraine, has called on the country's government to review its decision to impose an import tariff on rebar and wire rod steel imports from Belarus, referring to evidence of dumping.Nizi International has closed its base metals tradi...Read More
Novelis Inc will not complete its acquisition of Aleris Corp by the previously announced January 21 deadline, a company spokesperson confirmed to Fastmarkets AMM on Tuesday January 14."Novelis will no longer be able to meet the January 21, 2020, target date to close the acquisition of Aleris as a result of the European Commission's request for additional time to review Liberty House Group as the b...Read More
Starting in July this year, and for the first time, millions of tonnes of copper and aluminium scrap will be shipped into China not as waste but as merchandise, after the country announced its timetable for the renaming of high-purity non-ferrous scrap as recyclable materials.On Monday January 13, China's State Administration for Market Regulation said that the new specifications for secondary cop...Read More
London Metal Exchange copper bulls are turning to the options market to make cautious bets that copper's price will continue its rapid rise into March 2020, Fastmarkets learned.Open interest in March options has spiked and a total of 9,635 lots of call options - equivalent to over 240,000 tonnes of copper - are currently live with strike prices between $6,400 per tonne and $6,600 per tonne.Call op...Read More
Hot-rolled coil prices in the United States slipped on increased jitters about the direction of raw material prices amid a surge in availability of Brazilian slabs.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.52 per hundredweight ($610.40 per short ton) on Tuesday January 14, down by 0.7% from $30.75 per cwt on Monday January 13 but up by 1.9% from $2...Read More
ArcelorMittal Kryvyi Rih, the major long steel producer in Ukraine, has called on the country's government to review its decision to impose an import tariff on rebar and wire rod steel imports from Belarus, referring to evidence of dumping.On December 6, 2019, the Interagency Commission on International Trade announced the results of an anti-dumping investigation into steel imports from Belarus an...Read More
Mexico's largest integrated steelmaker, Altos Hornos de M?(C)xico (Ahmsa), has shut down its blast furnace No6 in the country's northern city of Monclova due to the current market conditions, it has said."The company decided to adjust production to variations in demand, which has been weak since last year, and to pursue greater flexibility to respond to the expected positive changes in the market,...Read More
The export market for flat rolled products from the Commonwealth of Independent States (CIS) remained strong in the first two weeks of January on low availability, sources told Fastmarkets this week.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea was $475-490 per tonne on Monday January 13, up from $460-470 per tonne a week earlier.Offers from Russian expor...Read More