China continued to account for the bulk of the transactions in the seaborne coking coal market, with cargoes being traded in a tight price range.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.29 per tonne, up $0.38 per tonnePremium hard coking coal, cfr Jingtang: $144.07 per tonne, down $0.07 per tonneHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingta...Read More
Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More
The spot tin market is reportedly slow in all regions despite talk of forthcoming production cuts to tackle excess supply. 99.9% European tin premium declines for the first time in five months Trade in the United States holds in range but some say floor is moving lower Asian premiums hold in thin tradeEuropean premiums decline on excess supply, soft demandFastmarkets' tin 99.9% ingot premium, in-...Read More
Steel H-beam prices in Europe remained unchanged on Wednesday, November 20, despite feedstock costs continuing to rise, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?530-560 ($586-620) per tonne on November 20, unchanged week on week."Prices will remain stable until end of year, and this will support January prices,"...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday November 20 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose during the week to November 19 due to improved buying interest amid gains in upstream hot-rolled coil prices, market participants told Fastmarkets.Aluminium premiums in Europe and the United States declin...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 20.Please click...Read More
Fastmarkets' US zinc premium was unchanged in the week to Tuesday November 19 from a week earlier due to the persistent backwardation in the metal's forward curve despite record lows in the stocks registered to the London Metal Exchange in the United States.US lead premiums remained flat as well but may rise in the coming weeks due to the fallout from the closure of Glencore's New Brunswick lead s...Read More
The nickel briquette premium in the United States rose for the second consecutive week amid enlivened spot activity in the week to Tuesday November 19, while premiums for all other grades in China and Europe remained unchanged on slack demand. United States briquette premiums increase at the top end of the range with sales moving higher week on weekChina full-plate premiums hold firm while appeti...Read More
Over 90% of copper scrap products currently allowed into China could be eligible for renaming as recyclable copper raw materials next year, a senior representative of China Nonferrous Metals Industry Association's (CMRA) recycling metal branch told delegates at Asia Copper Week in Shanghai.Wang Ji-Wei, Secretary General of CMRA, said he is optimistic that the vast majority of current copper scrap...Read More
Spot business in the global copper markets was subdued in the week ended Tuesday November 19, with low buying interest pushing the Shanghai premiums lower, while both United States and European market participants are now turning their attention to long-term supply contract negotiations. Arbitrage loss, subdued buying appetite pressures Shanghai premium European market sees less tonnage in l...Read More
US Galvalume prices have fallen to multi-year lows, matching declines seen in other flat-rolled steel products, but appear poised for a rebound - or at least a stabilization - over the next month following a wave of mill price increases, sources said.Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US fell to $34.50 per hundredweight ($690 per short ton) on T...Read More
Domestic wire rod prices in the United States have risen following mid-November increase announcements from US mills, while imported wire rod prices have widened lower.Fastmarkets' assessment for steel wire rod (low carbon) industrial quality, fob mill US rose to $29-30 per hundredweight ($580-600 per short ton) on Tuesday November 19, up by 1.7% from $28.50-29.50 per cwt in mid-October but still...Read More
Russia's Magnitogorsk Iron & Steel Works (MMK) plans to increase its production of hot-rolled coil and pig iron over the next five years, chief executive officer Pavel Shilyaev said during the company's capital markets day at the London Metal Exchange on November 15.At the one-day event for investors and analysts, which also included a media briefing, MMK laid out its plans for reconstruction next...Read More
The stainless steel scrap market in the United States continues to disappoint, with prices falling further over the past week.It's "probably going to be a miserable remainder of 2019 for stainless steel scrap," one domestic dealer source said."Prices may not see any real opportunity for strength until January, when processors and mills [consumers] start looking to restock inventory," a s...Read More
Turkish steel producers have continued to book deep-sea scrap for December deliveries but only at a slow pace due to the limited demand for finished long steel products, with prices holding steady, sources said on Wednesday November 20.A steel mill in the Marmara region booked a Baltic Sea cargo on November 20, comprising 25,000 tonnes of HMS 1&2 (80:20) at $261 per tonne and 5,000 tonnes of bonus...Read More
Seaborne iron ore prices saw a slight uptick on Wednesday November 20, while some market participants are bracing for production restrictions due to bad weather and heavy pollution levels in north China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.33 per tonne, up $0.53 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.36 per tonne, up $0.53 per tonne.62% Fe low-alumin...Read More
Steelmaking in electric arc furnaces (EAF) is already a good example of a waste-free circular economy since more than half of global steel output is being recycled, even if higher-quality materials are still produced from virgin materials and fossil-fueled processes, the president of the European Steel Technology Platform (ESTEP) said at a workshop in Bergamo, northern Italy last week. Carl de Mar...Read More
China continued to account for the bulk of the transactions in the seaborne coking coal market, with cargoes being traded in a tight price range.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.29 per tonne, up $0.38 per tonnePremium hard coking coal, cfr Jingtang: $144.07 per tonne, down $0.07 per tonneHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingta...Read More
The three-month price of aluminium traded on the London Metal Exchange was little changed during the morning session on Wednesday November 11 despite aninflow of 13,725 tonnes of the metal into exchange warehouses as of 9am on the same day. The LME three-month aluminium price traded up a marginal 0.4% from the previous day's close at $1,738 per tonne this morning despite the stock inflow, which wo...Read More
Aluminium premiums in Europe and the United States declined further in the week ended Tuesday November 19, with the market under increasing pressure from weak demand and the backwardation in London Metal Exchange spreads. Rotterdam duty-paid premium at lowest since FebruaryUS premium holds at 20-month low after end-of-week fallLow buying interest keeps premiums in Brazil steady MJP premiums uncha...Read More