Zinc premiums in Northern Europe have risen with falling zinc prices, while spreads on the London Metal Exchange went into backwardation. Meanwhile, lead premiums were broadly flat with many market participants attending an industry conference. Zinc premiums for Northern Europe rose slightly with summer holiday absences ending and prices on the LME declining An upward movement in Malaysia better r...Read More
European buyers stayed on the sidelines in the week to Tuesday September 3 after the London Metal Exchange nickel price hit a five-year high, and caution later spread to buyers in the United States. Europe sees little spot trade with metal prices soaring on fears of future shortages. US briquette premiums rose on the low end, but market does not expect it to last. Asian premiums fall...Read More
A sustained weakness in the United States' Midwest aluminium premium and increased barge freight rates pushed the estimated arbitrage between Southeast Asian warehouses and the United States to an 18-month low.The narrowing arbitrage follows on from a continual dip in regional aluminium premiums in the US.Fastmarkets' assessment of the monthly average midpoint for the aluminium P1020A premium, ddp...Read More
TheLondon Metal Exchange three-month copper price increased during morning trading on Wednesday September 4, paring back the bulk of Tuesday's losses, while high turnover also drove tin's outright price higher. Copper futures improved by some 1.6%, trading at an intra-morning high of $5,700 per tonne, while around 5,500 lots had been exchanged by 9am London time. The red metal's three-month p...Read More
Flat steel producer ArcelorMittal Italia will "continue operations beyond" September 6 at its plant in Taranto, Italy, despite the country's adoption of the so-called Crescita Decree law, the company said on Wednesday September 4.The steelmaker had previously expressed concerns that the adoption of the decree would threaten the operation of the plant.On September 4, Italian authorities adopted the...Read More
Dutch steel wire products supplier Van Merksteijn has put a temporary hold on the construction of a new integrated wire rod mill at Eemshaven in the northern Netherlands.The reasons for the decision were the fast-changing external circumstances in the past half-year, the current climate for investment in the Netherlands, and the significant economic insecurities that lie ahead, the company said on...Read More
Steel H-beam prices in Northern and Southern Europe moved in different directions this week, although both regions reported weak levels of trading activity, sources told Fastmarkets on Wednesday September 4.Fastmarkets' price assessment for steel beams, domestic, delivered Northern Europe, was ?,?565-600 ($619-657) on September 4, down from ?,?575-605 per tonne a week ago.One market participa...Read More
US ferrous scrap exporters have conceded that the global and domestic scrap markets are under pressure and have continued to sell cargoes at deeper discounts.Two East Coast deals to Turkey have been concluded at lower prices this week.One East Coast exporter sold a 30,000-tonne cargo on Tuesday September 3, priced at $261 per tonne cfr for 17,5000 tonnes of an 90:10 mix of No1 and No2 heavy meltin...Read More
The US stainless steel scrap market is in a state of flux as market participants try to digest nickel's recent rally.The LME's cash nickel contract closed the official session at $17,910 per tonne ($8.12 per lb) on Wednesday September 4, up 11.8% from $16,025 per tonne ($7.27 per lb) a week ago. The contract jumped sharply, by $2,280 per tonne ($1.03 per lb), between Thurs...Read More
Turkish steel producers have bought several deep sea cargoes from various locations at heavily reduced prices, sources told Fastmarkets on Wednesday September 4.There were three confirmed cargoes today - two from the United States and another from the United Kingdom.A steel mill in the Marmara region purchased a UK cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $250 per tonne cfr. This compa...Read More
Seaborne iron ore prices pushed up on Wednesday September 4 after looser production restrictions were confirmed for steelmakers in Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.32 per tonne, up $2.18 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.71 per tonne, up $2.18 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.10 per tonne, up $2.30 per tonne...Read More
Seaborne coking coal prices were largely stable on Wednesday September 4, with Chinese end users continuing to procure top-quality Australian materials.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.27 per tonne, down $0.12 per tonne Premium hard coking coal, cfr Jingtang: $169.34 per tonne, up $1.37 per tonneHard coking coal, fob DBCT: $134.01 per tonne, unchangedHard coking coal, cf...Read More
The somber trading sentiment in Asia is turning exceedingly bearish, with ferrous scrap prices plunging to levels not seen for years, market sources told Fastmarkets."It's gloom and doom all over the place. No one has anything good to say about the ferrous scrap markets at this point in time," a trading manager in Singapore told Fastmarkets.Several of the key price points in Asia have shown sharp...Read More
Hot-rolled coil prices in eastern China gained more strength on Wednesday September 4, while those in the northern region fell amid thin trading.DomesticEastern China (Shanghai): 3,670-3,690 yuan ($511-514) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,630-3,640 yuan per tonne, down 10 yuan per tonneIn Shanghai, spot prices rose after mills raised their offers in the morning amid gai...Read More
China's domestic rebar prices moved up slightly on Wednesday September 4 on increased buying activity amid a strengthening of the futures market.Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($507-511) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,600-3,630 yuan per tonne, widened upward by 10 yuan per tonneRebar futures experienced a strong morning and rose to a high of 3,443 y...Read More
While lack of progress on United States-China trade talks remains ever present, the potential removal of the logjam over Hong Kong seems to be providing some cheer across markets.Europe, Japan and the US are now suffering manufacturing contraction, but there are early signs that parts of China's economy are starting to recover. Following a rebound in the Caixin manufacturing purchasing managers' i...Read More
After a period of correction that lasted for about three weeks, the price for Chinese cobalt metal has been given fresh strength by rising raw materials costs and tightened spot supply.Fastmarkets' price assessment for cobalt, 99.8% Co min, ex-works China, was 265,000-285,000 yuan per tonne (equivalent to $14.83-15.95 per lb, minus China VAT) on Wednesday September 4. This was up by 2.2% from 258,...Read More
An overview of the minor metals markets and their latest price moves.Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lbClick here...Read More
The following Fastmarkets minor metals prices changed on Wednesday September 4:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,700-5,900 per tonne from $5,750-5,950Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,700-5,900 per tonne from $5,700-5,950Antimony MMTA standard grade II, ddp...Read More