Weak demand conditions and lingering backwardations in London Metal Exchange spreads damped most regional P1020A premiums on Tuesday December 3, including the main Japanese ports (MJP) premium, which fell to an all-time low.MJP premium falls to all-time lowRotterdam premium ticks downward on LME backwardationsBrazil premiums soften on poor demandUS Midwest premium steady on holiday pause.MJP spot...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 3.Please click...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Tuesday November 3, with this morning's fresh cancelation of 1,326 tonnes doing little to negate selling pressure, while the metal's benchmark cash/three-month spread reached its widest level since July. Nickel's outright price on the LME closed at $13,375 per tonne this afternoon, softening by more than...Read More
Seaborne manganese ore prices for both grades in China nudged down in the week ended Friday November 29 after buying sentiment was dented by falling port-side ore prices and the continued rise in port-side inventories. Spot liquidity was light last week in advance of miners making their offers for January cargoes. Fastmarkets' index for manganese ore, 44% Mn, cif Tianjin edged down by 1 cent week...Read More
Lead concentrate spot treatment charges (TCs) continued to rise in November, with buy-side liquidity slim amid a still-shut arbitrage window for Chinese imports. Refining charges (RCs) also remain high, around $1.20-1.30 per oz for material with high silver content. Lead concentrates with low silver content are trading with RCs at $1.50 or above. Fastmarkets assessed the lead spot concentrate...Read More
Deteriorating demand is adding continual downward pressure to Chinese and European alloy prices.Chinese domestic alloy prices weaken on thin demand Imported charge chrome prices in China drop amid competitive domestic prices Chrome ore prices hold in China European alloy market continues sliding Chinese spot domestic ferro-chrome prices resumed their decline in the week to Friday November 29, refl...Read More
Prices for certain grades of ferrous scrap rose in the Mexican steelmaking regions of Baj?-o and Monterrey over the past week, with some consumers already applying price increases to secure their supply.In Mexico's central Baj?-o region, at least one steelmaker increased prices by up to 200 pesos ($10) per tonne last week, while other steelmakers were telling scrap sellers that they will struggle...Read More
Turkish deep-sea scrap import prices have increased on a fresh transaction amid tightening supply and good demand, sources told Fastmarkets on Tuesday December 3.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $280 per tonne and 3,000 tonnes of bonus at $290 per tonne cfr. The cargo was scheduled for shipment in January.This compares...Read More
While the metal markets have hardly been bullish, United States President Donald Trump undermined confidence across broad markets when he re-imposed tariffs on steel and aluminium imports from Argentina and Brazil and threatened France with tariffs too.This has raised concerns that a US-China trade deal may be delayed, especially following Trump's signing legislation supporting protesters in Hong...Read More
Hot-rolled coil prices in the United States have continued to bounce between $27 and $28 per hundredweight ($540 and $560 per short ton) in a quiet pre-holiday spot market, sources said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $27.54 per cwt ($550.80 per ton) on Tuesday December 3, down by 0.9% from $27.79 per cwt on December 2 but roughly unchanged f...Read More
Suppliers of hot-rolled and cold-rolled steel sheet to Russia's Central Federal District around Moscow have reduced their prices for December, but intend to put them back up for January, sources told Fastmarkets on Monday December 2.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,000-39,500 roubles ($606-614) per tonne on December 2, including...Read More
Export prices for hot-rolled coil from the Commonwealth of Independent States have increased over the past week as several sales at higher prices were done to key outlets, sources told Fastmarkets on Monday December 2.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $405-415 per tonne on Monday December 2, up by $10 per tonne from the previous week.Russia-origin HRC was...Read More
An expected uptrend in the United States' December ferrous scrap settlement has offset ongoing weak demand and made mill list prices for beams relevant once again, according to market sources. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US gained $1 to reach $33.75 per hundredweight ($675 per short ton) on Monday December 2, moving in line with mill list pr...Read More
Rebar prices in Russia's major steel-consuming region, the Central Federal District around Moscow, have gone down further due to seasonally weak demand from end-users, sources told Fastmarkets on Monday December 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 31,000-32,000 roubles ($482-498) per tonne on Monday December...Read More
The Arab Iron & Steel Union (AISU) held its annual summit in Tunis, Tunisia, on November 27-28. Here are four things that Fastmarkets learnt at the event:Mena region steel consumptionSteel consumption in the Middle East-North Africa (Mena) region is expected to rise to 41 million tonnes in 2020, compared with 40 million tonnes in 2019, AISU secretary-general Kamel Djoudi said.The key driver of hig...Read More
Prices for certain grades of ferrous scrap rose in the Mexican steelmaking regions of Baj?-o and Monterrey over the past week, with some consumers already applying price increases to secure their supply.In Mexico's central Baj?-o region, at least one steelmaker increased prices by up to 200 pesos ($10) per tonne last week, while other steelmakers were telling scrap sellers that they will struggle...Read More
Turkish deep-sea scrap import prices have increased on a fresh transaction amid tightening supply and good demand, sources told Fastmarkets on Tuesday December 3.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $280 per tonne and 3,000 tonnes of bonus at $290 per tonne cfr. The cargo was scheduled for shipment in January.This compares...Read More
Seaborne iron ore prices weakened on Tuesday December 3 amid losses in futures and rebar markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.31 per tonne, down $0.14 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.40 per tonne, down $0.14 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.20 per tonne, down $0.12 per tonne.58% Fe fines high-premium, cfr Qingd...Read More
CIS billet producers were in a bullish mood in early December despite the slowdown in trading activity, after another round of scrap price increases last week spurred them to increase offers. Billet offers from CIS mills surged to $395-405 per tonne fob Black Sea in the first week of December, against $385-395 per tonne fob a week earlier. "CIS mills pushed their prices higher on the back of highe...Read More
Domestic prices for steel rebar in the United Arab Emirates have increased over the past week on strong demand, market sources told Fastmarkets on Tuesday December 3.Prices are expected to continue climbing due to the global rise in production costs and low stock levels in the country, sources in the UAE said.Billet importsBillet was booked from Oman at about $425-435 per tonne cpt, while offers f...Read More