Taiwan will defer the imposition of anti-dumping and countervailing duties on five Chinese steel and stainless steel products, the island's customs administration said last week. The decision to delay the tariffs was made after considering the recommendation of Taiwan's International Trade Commission (ITC), the impact on Taiwan's economic interests and the global economic situation, Taiwan's Custo...Read More
Adjustments to EU safeguard measures will "stabilize trade flows by containing import concentrations from certain exporting countries," the European steel association Eurofer said on Tuesday October 1.Although the changes will result in improvements, "the result is still not sufficient for a large part of the sector, especially given that it is facing depressed domestic steel demand," Eurofer said...Read More
The price of steel rebar in the Southern European domestic market was stable this week but further decreases were likely because of continuing losses in the ferrous scrap market, sources told Fastmarkets on Wednesday October 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?455-465 ($496-507) per tonne on Wednesday, unchanged week...Read More
The price of steel rebar in the Northern European domestic market has moved down this week becai=used of the continuing losses in the ferrous scrap market, sources told Fastmarkets on Wednesday October 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?460-475 ($502-518) per tonne on Wednesday, down by ?,?10-15 per tonne from the w...Read More
A judge in the United Kingdom has ruled that broker Marex Spectron must pay up to $32 million in losses to French bank Natixis stemming from a case of forged warehouse receipts more than two years ago.The court found both Marex Spectron and Glencore-owned Access World negligent.Natixis sued Marex Spectron and Access World in 2017 over fraudulent receipts. Marex rejected the lawsuit, and a trial wa...Read More
Demand for flat steel products in Turkey was weak in September 2019 because of global price falls, market participants have told Fastmarkets.And local producers have now filled their order books until late November, they said on Wednesday October 2.Turkish steel prices increased on May 17 after the import duty into the United States, which had been applied at a rate of 50% in September 2018, was c...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 2 that are worth another look.Estimated arbitrage opportunities between Southeast Asian warehouses and the US Midwest were little changed in September, on a steady US aluminium market.The US copper cathode premium fell to its lowest level since July 2018 due to weakened demand and United States-China trade war concerns...Read More
The whole battery supply chain will benefit from lithium benchmark pricing, Fastmarkets head of battery raw materials research William Adams says as he explores what is driving auto manufacturers to support this pricing mechanism. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles (EV) into their portfolios alongside internal combusti...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
A bleak outlook for downstream demand, impending backwardations in the forward curve on the London Metal Exchange and general economic uncertainty helped drive bearish sentiment and stifle spot business at Fastmarkets' recent aluminium conference in Athens.Although the Fastmarkets International Aluminium conference is typically a hub for aluminium participants to negotiate and sign contracts for t...Read More
The London Metal Exchange three-month nickel price rose by 1.4% to close at $17,475 per tonne on Wednesday October 2 from $17,220 per tonne the previous day. The three-month nickel price has been buoyed by a 5,802 tonne outflow from LME approved warehouses recorded on the same day alongside a 2,964 tonne fresh cancelation. Sentiment was buoyant despite a paltry 3,774 lots changing hands by close o...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 2.Please click...Read More
The seaborne coking coal market was quiet on Wednesday October 2, with participants awaiting the return of Chinese buyers to gauge the direction of price movements.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob DBCT: $123.13 per tonne, unchangedHard coking coal, cfr Jingtang: $134.07 per ton...Read More
The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More
The London Metal Exchange three-month nickel price rose by 1.4% to close at $17,475 per tonne on Wednesday October 2 from $17,220 per tonne the previous day. The three-month nickel price has been buoyed by a 5,802 tonne outflow from LME approved warehouses recorded on the same day alongside a 2,964 tonne fresh cancelation. Sentiment was buoyant despite a paltry 3,774 lots changing hands by close o...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 2.Please click...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 2 that are worth another look.Estimated arbitrage opportunities between Southeast Asian warehouses and the US Midwest were little changed in September, on a steady US aluminium market.The US copper cathode premium fell to its lowest level since July 2018 due to weakened demand and United States-China trade war concerns...Read More
Aluminium market participants are bracing themselves for the possibility of a large aluminium delivery into London Metal Exchange warehouses.More than 29,000 tonnes of aluminium was delivered into LME warehouses on Wednesday October 2 across Singapore and Gwangyang. This was in addition to 11,000 tonnes delivered into Singapore on October 1.But it is Port Klang, Malaysia, that is attracting the at...Read More
The price of aluminium ingots in the United Kingdom fell to its lowest in three years in the week to Wednesday October 2 while aluminium scrap grades in the region continued to weaken.Fastmarkets assessed the price of aluminium scrap and foundry LM24 gravity diecasting ingot, delivered consumer UK at ?1,200-1,240 ($FIGURE) per tonne on October 2, down from ?1,240-1,280 per tonne the previous wee...Read More
Rotterdam in-warehouse nickel cathode and briquettes premiums plummeted in the week to Tuesday October 1 while Shanghai in-warehouse and cif premiums continued descending amid the widest ever backwardation in the London Metal Exchange cash/three-month nickel spread. European premiums hit two-to-three-year lows with an unprecedented wide backwardation in the cash/three-month nickel spread causing p...Read More