China's domestic rebar prices decreased on Tuesday December 3 amid bearish expectations for weakening demand but high output over the next two months. Eastern China (Shanghai): 3,990-4,020 yuan ($566-571) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,720-3,750 yuan per tonne, down 40 yuan per tonne December and January are seasonally weak months for rebar demand in mo...Read More
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
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
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
A summary of base metals premiums from across the globe for the week to Tuesday December 3.Please click...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 3 that are worth another look.ArcelorMittal has increased its offer prices in Europe for all flat steel products by ?,?40 ($44) per tonne, effective immediately, market sources told Fastmarkets on December 3.A second major aluminium producer has offered the light metal for delivery in the first quarter of 2020 to main J...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
Three-month lead traded lower during the morning session on the London Metal Exchange on Tuesday December 3, with low liquidity conditions capping a move above nearby resistance levels, while tin's outright price recorded the only move higher. Lead's underlying price on the LME was recently seen at $1,894 per tonne, dipping below the $1,900-per-tonne support level, with just 870 lots exchanged ove...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
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
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
Here are five Fastmarkets MB stories you might have missed on Tuesday December 3 that are worth another look.ArcelorMittal has increased its offer prices in Europe for all flat steel products by ?,?40 ($44) per tonne, effective immediately, market sources told Fastmarkets on December 3.A second major aluminium producer has offered the light metal for delivery in the first quarter of 2020 to main J...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
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
Three-month lead traded lower during the morning session on the London Metal Exchange on Tuesday December 3, with low liquidity conditions capping a move above nearby resistance levels, while tin's outright price recorded the only move higher. Lead's underlying price on the LME was recently seen at $1,894 per tonne, dipping below the $1,900-per-tonne support level, with just 870 lots exchanged ove...Read More
Sustained import losses for copper and zinc in November have caused Shanghai-bonded stocks to rise for the two base metals by around 3%, while a reversal of import conditions for nickel encouraged some trading houses to draw down bonded nickel stocks last month. Shanghai-bonded copper stocks moved up in November on low interest for imported material following a wider arbitrage loss this month, mar...Read More
Norsk Hydro plans to reduce output by 20% at its majority-owned Slovalco primary aluminium smelter in Slovakia, citing a weakening market, the company announced on Monday December 2."The board of directors at Hydro's majority-owned Slovalco primary aluminium plant in Slovakia has decided to recommend to the shareholders of the company to curtail maximum 20% of the plant's primary aluminium product...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
ArcelorMittal has increased its offer prices in Europe for all flat steel products by ?,?40 ($44) per tonne, effective immediately, market sources told Fastmarkets on Tuesday December 3.ArcelorMittal's new offer for first-quarter rolling hot-rolled coil was ?,?450 ($497) per tonne ex-works in Germany.Fastmarkets' latest weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?4...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