Domestic prices for cold-rolled coil in Europe increased across the board over the past week, sources told Fastmarkets on Wednesday December 11.The rise of CRC was driven by combination of demand improvement owing to restocking activity, production cuts across Europe and higher hot-rolled coil prices, the material used as feedstock for CRC production.On December 11, Fastmarkets' steel...Read More
The price of mesh-quality steel wire rod in the European domestic market was unchanged this week due to a lack of activity, sources told Fastmarkets on Wednesday December 11. Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?440-460 ($487-510) per tonne on December 11, unchanged week on week.Fastmarkets' assessment for...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday December 11 that are worth another look.Japan's Kanto Tetsugen has secured a higher price at its ferrous scrap auction for December, which is likely to boost sentiment in the Asian market for the steelmaking raw material.The emergence of a contango in London Metal Exchange aluminium spreads for early next year helped...Read More
Nickel gained more than 3% on the London Metal Exchange on Wednesday December 11, closing at a two-week high.The three-month nickel price ended official trading at $13,850 per tonne, up by more than $400 per tonne from Tuesday's closing price of $13,405 per tonne. Volumes were higher - turnover exceeded 10,000 lots for the first time since October. The metal has shrugged off inflows of more than 2...Read More
The sharp fall in London Metal Exchange three-month lead price has put upward pressure on the US lead premium. Stock liquidation and weak buying saw the Italian delivered zinc premium decline, while the Shanghai zinc market held firm. US zinc premium flat amid "deathly quiet" in spot demand ILZSG data shows an overall deficit of 83,000 tonnes for lead in the first nine months of 2019 Weak buying a...Read More
Seaborne coking coal continued to trade in a narrow range on Wednesday December 11, with Chinese buying activity driving the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $135.99 per tonne, down $0.26 per tonnePremium hard coking coal, cfr Jingtang: $148.56 per tonne, down $1.78 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking...Read More
Turkey is calling for a level playing field when it comes to trading with the European Union and the United States, Turkish steelmakers said during a panel discussion at Fastmarkets' Middle East Iron and Steel conference in Dubai.Speaking on Tuesday December 10 in a panel discussion about the protectionism Turkish steel faces in its major steel export markets, panelists said they were on...Read More
The price of steel rebar in the Northern European domestic market was unchanged this week, but increases could soon take place because of rising scrap costs, sources told Fastmarkets on Wednesday December 11. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?475-485 ($526-537) per tonne on Wednesday, unchanged from a week...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday December 11 that are worth another look.Japan's Kanto Tetsugen has secured a higher price at its ferrous scrap auction for December, which is likely to boost sentiment in the Asian market for the steelmaking raw material.The emergence of a contango in London Metal Exchange aluminium spreads for early next year helped...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 11.Please click...Read More
Nickel gained more than 3% on the London Metal Exchange on Wednesday December 11, closing at a two-week high.The three-month nickel price ended official trading at $13,850 per tonne, up by more than $400 per tonne from Tuesday's closing price of $13,405 per tonne. Volumes were higher - turnover exceeded 10,000 lots for the first time since October. The metal has shrugged off inflows of more than 2...Read More
A closed arbitrage window between the Shanghai and London exchanges forced nickel premiums in China lower, while a push for market participants to clear stock by year-end in the United States moved premiums lower there as well. Closed arbitrage between the Shanghai Futures Exchange and the London Metal Exchange moved premiums in Shanghai lower.An emphasis on year-end destocking in the US pushed do...Read More
Chinese copper producer Jiangxi Copper will become the largest shareholder of Canada-listed First Quantum Minerals (FQM) after its $1.12-billion purchase of PIM Cupric Holdings (PCH), which holds around 18.015% of FQM's issued shares. "The transaction is in line with the company's international strategy," Jiangxi Copper said in a filing to the Shanghai Stock Exchange on Tuesday November 10. Jiangx...Read More
The sharp fall in London Metal Exchange three-month lead price has put upward pressure on the US lead premium. Stock liquidation and weak buying saw the Italian delivered zinc premium decline, while the Shanghai zinc market held firm. US zinc premium flat amid "deathly quiet" in spot demand ILZSG data shows an overall deficit of 83,000 tonnes for lead in the first nine months of 2019 Weak buying a...Read More
The Shanghai copper cathode premiums extended recent declines in the week ended Tuesday December 10 amid bearish sentiment ahead of year-end and Lunar New Year in January, while US and European markets were little changed. Shanghai cif premium hits fresh four-month low. US and European premiums unchanged amid thin trading. Year-end destocking, closed arb continue to weigh in Shanghai Bearish senti...Read More
A summary of Trafigura Group's financial results for the 2019 financial year ended September 30, 2019. In brief: Earnings before interest, taxes, depreciation and amortization (Ebitda) increased 24% year on year to $2.129 billion for 2019. In 2019, the Trafigura Group registered gross profit of $2.978 billion, a 25% increase on 2018 Net profit was steady in the 2019 financial yea...Read More
Domestic prices for hot-rolled coil have moved up in the south of Europe this week, supported by reduced output from the region's mills and higher import offers, sources told Fastmarkets on Wednesday December 11.In the meantime, domestic HRC prices in the north of the EU stood largely unchanged day on day, although sentiment remains largely positive due to reduced production and a lack o...Read More
The price of steel rebar in the Southern European domestic market was little changed this week, but market participants believe increases are likely because of higher scrap costs, sources told Fastmarkets on Wednesday December 11. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?455-480 ($504-532) per tonne on Wednesday, down by ?,...Read More
Turkish steel producers have gone the day without any deep-sea scrap purchases, but more cargoes from last week for January shipments were heard on Wednesday December 11.A steel mill in northern Turkey was heard booking a Baltic Sea cargo on Friday December 4, comprising 9,000 tonnes of HMS 1&2 (80:20), 14,000 tonnes of shredded and 5,000 tonnes of a mixture of bonus and busheling at an average pr...Read More
Iron ore seaborne prices were up on Wednesday December 11 as steel mills were heard to have kept production levels steady, prompting appetite for the raw material.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.67 per tonne, up $1.10 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.76 per tonne, up $1.10 per tonne.62% Fe low-alumina fines, cfr Qingdao: $94.19 per to...Read More