Vale expects Chinese demand for iron ore pellets and pellet feed to rise by 50 million tonnes per year with mills in China increasing the usage of pellets in their blast furnaces.It estimates that pellet consumption could increase its proportion of the total raw material mix in blast furnaces from 11% in 2015 to 19% in 2025, according to a presentation that the Brazilian miner showed to investors...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have been under pressure from limited market activity, sources told Fastmarkets on Wednesday October 9.Demand from end-users has been low, according to market participants. In addition, buyers believed that prices would go down and therefore they preferred to hold back from purchases until prices reached a market bottom.Domestic prices for hot-r...Read More
Domestic prices for steel wire rod across Europe remained unchanged this week, but market participants were keeping a close eye on the ferrous scrap sector to see if recent developments there would turn into a sustainable price recovery, sources told Fastmarkets on Wednesday October 9.Fastmarkets' index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, fell by 24% from the beg...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday October 9, remaining below the $5,700 per tonne resistance level amid thin volumes, while forward spreads in nickel tightened over the afternoon.Copper's outright price closed at $5,684 per tonne in the afternoon, keeping below nearby resistance while volumes traded were moderately low at just...Read More
The price of steel rebar in the Southern European domestic and export markets was slightly lower this week because limited export opportunities were creating an excess of supply, sources told Fastmarkets on Wednesday October 9.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?445-465 ($488-510) per tonne on Wednesday, widening downw...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 9 that are worth another look.China, the world's biggest steelmaker, is considering importing hot-rolled coil on possible arbitrage opportunities with Russia and Iran, Fastmarkets understands. The alumina index on a fob Australia basis fell by 3.4% week on week, moving below $280 per tonne for the first time...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday October 9, remaining below the $5,700 per tonne resistance level amid thin volumes, while forward spreads in nickel tightened over the afternoon.Copper's outright price closed at $5,684 per tonne in the afternoon, keeping below nearby resistance while volumes traded were moderately low at just...Read More
The alumina index on a fob Australia basis is down by 3.4% week on week and below $280 per tonne for the first time since May 2017. Fastmarkets' daily alumina index, fob Australia fell to $279.29 per tonne on Wednesday October 9, from $280.64 per tonne the previous day and from $289.53 per tonne on October 2. The index is now down 29.5% from the start of the 2019. Key drivers: The...Read More
Trading activity in the seaborne coking coal market remained muted on Wednesday October 9 with Chinese buyers' optimism yet to translate into transactions while those elsewhere remained on the sidelines.Fastmarkets indicesPremium hard coking coal, fob DBCT: $146.37 per tonne, up $0.29 per tonnePremium hard coking coal, cfr Jingtang: $159.72 per tonne, up $0.02 per tonne Hard coking coal, fob DBCT:...Read More
The price of steel rebar in the Northern European domestic market was unchanged this week amid signs that the downward trend in the ferrous scrap market may have finally come to an end, sources told Fastmarkets on Wednesday October 9Fastmarkets' weekly price assessment for steel rebar, domestic, delivered Northern Europe, was ?,?460-475 ($505-521) per tonne on Wednesday, unchanged week on week. "W...Read More
An overview of the minor metals markets and their latest price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 9 that are worth another look.China, the world's biggest steelmaker, is considering importing hot-rolled coil on possible arbitrage opportunities with Russia and Iran, Fastmarkets understands. The alumina index on a fob Australia basis fell by 3.4% week on week, moving below $280 per tonne for the first time...Read More
Stainless steel scrap dealers and processors have little optimism that the market in the United States will strengthen any time soon after prices weakened again this week despite an uptick in nickel pricing after exchange stocks dropped by more than 39,000 tonnes."It is very frustrating to see London Metal Exchange nickel prices remain strong around the $8-per-lb mark and watch stainless stee...Read More
The alumina index on a fob Australia basis is down by 3.4% week on week and below $280 per tonne for the first time since May 2017. Fastmarkets' daily alumina index, fob Australia fell to $279.29 per tonne on Wednesday October 9, from $280.64 per tonne the previous day and from $289.53 per tonne on October 2. The index is now down 29.5% from the start of the 2019. Key drivers: The...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 9.Please click...Read More
The US tin premium experienced an uptick for the first time in six weeks on Tuesday October 8, while Europe and China premiums remained stable. Falling supply prompts US premium uptick European market eyes long-term contract negotiations China's absence for National Day holiday limits Asian tin premiumsUS tin premium tick up The tin premium ticked up in the United States. This reflected reduced do...Read More
A blockade that had restricted production and exports of lead and zinc concentrates from Newmont Goldcorp's Pe??asquito mine in Mexico has been removed, the company said on Wednesday October 9. The blockade, which began on September 16 and is the second major disruption at the mine this year, ended yesterday. "Operations at the mine remain temporarily suspended pending further evaluation of t...Read More
Following a period of market research in the copper cathode market, Fastmarkets proposes to launch fortnightly assessments of equivalent grade (EQ) copper cathode premiums, basis cif Europe and Shanghai. The introduction of the premiums will begin Fastmarkets' pricing coverage of non exchange-deliverable copper cathode trade. Fastmarkets has for many years tracked premiums for grade A, exchange de...Read More
Prices for hollow steel sections in the Northern and Southern European domestic markets moved down this week following a drop in feedstock costs and weak demand, sources told Fastmarkets on Wednesday October 9.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?580-590 ($636-647) per tonne on Wednesday, down from ?,?585-600 per tonne one we...Read More
Steelmakers in Northern Europe have decreased their domestic prices for hot-rolled coil (HRC) because they need to secure orders in a slow market, sources told Fastmarkets on Wednesday October 9.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?440-445 ($483-488) per tonne on October 9, down by ?,?10 per tonne week on week from ?,?450-455 per tonne ex-works....Read More