The three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday September 18, with the price breaching the nearby resistance value amid low trading volumes, while the rest of the base-metals complex continued to consolidate.Nickel futures closed at $17,200 per tonne in the afternoon, climbing by more than 1% from an intraday low of $16,970 per tonne, while...Read More
The price of wire rod delivered in the Southern European market went down this week amid slow trading, Fastmarkets heard on Wednesday September 18.Fastmarkets' assessment of the price of steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?470-490 ($519-541) per tonne on Wednesday, down by ?,?10 per tonne from the week...Read More
The price of rebar exported from Southern European ports decreased this week because of weak demand and competition with Turkish material, sources told Fastmarkets on Wednesday September 18.Global demand for rebar was down, sources said, on macroeconomic concerns driven by factors such as the UK's intended departure from the EU ("Brexit") and the global trade war.But countries in the region were s...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 18 that are worth another look.The global nickel supply deficit will shrink in 2020 despite the implementation of the latest Indonesian ore export ban, according to Denis Sharypin, head of commodity market research for Russian multi-metal miner Nornickel.The London Metal Exchange will give members incentives to trade...Read More
The three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday September 18, with the price breaching the nearby resistance value amid low trading volumes, while the rest of the base-metals complex continued to consolidate.Nickel futures closed at $17,200 per tonne in the afternoon, climbing by more than 1% from an intraday low of $16,970 per tonne, while...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 18.Please click...Read More
The London Metal Exchange will give members incentives to trade cash-settled futures contracts as well as those for precious and ferrous metals. With the aim of encouraging burgeoning futures markets for the likes of cobalt, alumina and steel scrap, the exchange has devoted a pot of $2 million to subsidize category I and II members trading the contracts that were launched over the last five years,...Read More
The price of steel rebar in the Northern European domestic market was unchanged this week but pressure came from low ferrous scrap costs, and market participants expected to see reduced rebar prices in the coming weeks, Fastmarkets heard on Wednesday September 18.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?475-490 ($524-541) p...Read More
Steel hollow sections prices in the European domestic market remained unchanged this week, with many market participants uncertain about whether to order now or wait until there is more clarity, sources told Fastmarkets on Wednesday September 18.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?585-610 ($646-673) per tonne on Wednesday, u...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 18 that are worth another look.The global nickel supply deficit will shrink in 2020 despite the implementation of the latest Indonesian ore export ban, according to Denis Sharypin, head of commodity market research for Russian multi-metal miner Nornickel.The London Metal Exchange will give members incentives to trade...Read More
The global nickel supply deficit will shrink in 2020 despite the implementation of the latest Indonesian ore export ban, according to Denis Sharypin, head of commodity market research for Russian multi-metal miner Nornickel.Sharypin was speaking at the 18th International Stainless and Special Steel Summit in Seville, Spain, on Wednesday September 18.While Nornickel, the world's largest producer of...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 18.Please click...Read More
Nickel premiums fell in Europe and Asia while in the United States the 4x4 rate held steady, reflecting a lack of trade, but the premium on briquette - the more liquid form - fell. Europe briquettes, full-plate and cut-cathode premiums fall while stocks balloon at LME-listed warehousesChinese premiums weaken against backdrop of LME backwardation, lack of arbitrage opportunities US buyers remain on...Read More
The London Metal Exchange will give members incentives to trade cash-settled futures contracts as well as those for precious and ferrous metals. With the aim of encouraging burgeoning futures markets for the likes of cobalt, alumina and steel scrap, the exchange has devoted a pot of $2 million to subsidize category I and II members trading the contracts that were launched over the last five years,...Read More
A steady uptick in the London Metal Exchange lead price prompted a move lower for Indian lead premiums in the week ended Tuesday September 17, while global zinc premiums held steady amid continued demand concerns in Europe, with strong production and tight spot availability doing little to move premiums in the United States and Shanghai. Climbing LME lead price pressures Indian premiumsUS premium...Read More
Prices for industrial-quality, low-carbon wire rod tumbled in the United States for the eighth consecutive month after input costs fell and distributors avoided buying for stock. Fastmarkets' price assessment for steel wire rod (low carbon) industrial quality, fob mill US fell to $30-31 per hundredweight ($600-620 per short ton) on Tuesday September 17 from $31.50-32.50 per cwt on Tuesday Aug...Read More
Brazilian import volumes of flat and long steel displayed opposite tendencies in August, according to figures from the country's economy ministry published last week.Import volumes of flat steel declined year on year by 11.29% to 95,116 tonnes in the month, from 107,216 tonnes, mostly because of lower volumes imported from China.Imports of flat steel from China fell to 41,950 tonnes in August 2019...Read More
Steel H-beam prices in Europe were unchanged this week but recent feedstock price falls have put the market under pressure, sources told Fastmarkets on Wednesday September 18.Fastmarkets' price assessment for steel beams, domestic, delivered Northern Europe, was ?,?560-600 ($618-662) per tonne on September 18, unchanged week on week.Falling scrap values continued to put pressure on beam prices dur...Read More
The United States' stainless steel scrap market took cues from nickel prices this week, with the 300-series grades posting big reductions after the London Metal Exchange cash nickel contract fell by 48.2 cents per lb compared with the previous week."We are short on demand and long on inventory," one major processor said, adding that there is very little optimism for a in demand for the balance of...Read More
The United States' ferrous scrap export market shows no signs of recovery, with sales from the East and West Coast over the past week concluded at discounts to the prior week.At the same time, Turkey returned to the deep-sea ferrous scrap market, buying from the United Kingdom at a discount.Two sales were reported from the US West Coast. One exporter sold 45,000 tonnes of No1 h...Read More