The Fastmarkets holiday pricing schedule has been updated to reflect a change in the UK public holiday calendar. The UK government has changed the date of the Early May bank holiday in 2020 to Friday May 8 to mark the 75th anniversary of VE Day. This will affect the publication of some Fastmarkets prices, which have been noted in the holiday pricing schedule 2019-2020.Please click on the image bel...Read More
Key data from Fastmarkets' Wednesday September 4 pricing session in Europe.Key driversThe ferro-titanium market is stable, with industry sources reporting deals done within the current price range and market attention turning to consumer tenders due in the next few weeks. Almost 120 tonnes of alloy was reported sold in the past few days, with more tonnages heard at the upper end of the latest asse...Read More
The markets have been under steady pressure for so long that the combination of good news about Hong Kong, with the withdrawal of the extradition bill, and reports that high level US-China trade talks will resume in October, have been enough to lead a relief rally. This saw the three-month base metals prices on the London Metal Exchange rise by an average of 2.4% on Wednesday September 4.The rally...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade. Index futures responded to news that trade negotiations between China and the U.S. will resume early in October.The S&P 500 Index is scheduled to open above short term resistance at 2643.31.Index futures moved slightly higer following release of economic news at 8:15 and 8:30 AM EDT....Read More
The three-month lead price on the London Metal Exchange showed the greatest losses at the close of trading on Tuesday September 3, falling by some 1.6% to close at its lowest level since August 6.Meanwhile, a steady downturn in nickel's outright price saw it close below $18,000 per tonne.Lead futures began their decent during late in the morning, dipping below the support level at $2,000 per tonne...Read More
The London Metal Exchange three-month price nickel price held gains above $18,000 per tonne during morning trading on Tuesday September 3, while a fresh cancellation of around 22,725 tonnes of copper inventory did little to raise the red metal's stagnant price. The nickel price was the standout performer this morning, with trading volumes of just under 6,000 lots exchanged as of 9.30am London time...Read More
Nickel remains in the spotlight because the market now has concrete news to adjust to and tin seems to be rising on nickel's coattails, with Indonesia being the second largest producer of tin in the world.The other metals and markets in general are now waiting for further news on when United States-China trade talks will resume - given generally poor manufacturing purchasing managers' index (PMI)...Read More
Recent losses in the Chinese ferro-silicon price deepened over the past week in line with persistently softer demand, while the European market was steady, although a lack of buying interest was expected to weigh on prices in the near term. Export price in China drops on weak buying interest while domestic market tracks trendEuropean market under downward pressureUS FeSi prices firm on small trans...Read More
Ferro-chrome prices continue to weaken in Europe due to producers' competition for sparse consumer interest. Alloy prices in Europe still weakening at lowest levels since 2009Ore and alloy prices hold in ChinaAlloy prices tick up in South Korea on potential Indian supply disruption US FeCr prices remain flat on thin tradingThe European ferro-chrome price softened slightly to a fresh ten-year low o...Read More
Fastmarkets presents five main takeaways from the Ferroalloynet 16th International Manganese Products conference in Ulanqab, in northern China's Inner Mongolia, on August 28-30. Growth of steel demand in China likely to slow in H2 2019... Both supply and demand for steel in China will maintain a relatively steady pace in the second half of the year, but the growth rate will be slower compared with...Read More
Market participants have kept a close eye on the softening European selenium price over the summer for clues on how the market will perform from September when activity usually starts to pick up. Fastmarkets assessed the price of selenium in-whs Rotterdam at $7.50-9.50 per lb on Friday August 30, unchanged from the previous assessment but still under pressure with several offers pending at th...Read More
Turkish steel producers stayed away from the deep-sea scrap market for a second day this week, with no new cargoes booked on Tuesday September 3, sources told Fastmarkets.No new cargoes have been booked since Tuesday last week when, day on day, prices dropped by $11.55 per tonne. Market participants said they had heard rumors of possible new trades, but wanted to wait until the...Read More
Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
The Turkish steel producers have started the week quietly, and have not booked any new deep-sea scrap cargoes despite a heavy drop in prices last week, sources said on Monday September 2.The markets have been silent since August 27, when prices dropped by $11.55 per tonne day on day on news of the latest trades.Since then, however, traders have stepped back...Read More
Nickel remains in the spotlight because the market now has concrete news to adjust to and tin seems to be rising on nickel's coattails, with Indonesia being the second largest producer of tin in the world.The other metals and markets in general are now waiting for further news on when United States-China trade talks will resume - given generally poor manufacturing purchasing managers' index (PMI)...Read More
Key suppliers of flat steel to Russia's Central Federal District around Moscow kept their prices unchanged during the week ended Monday September 2, with no apparent reason for the shifts that have been seen in the domestic market, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was unchanged at 45,100-45,500 roubles ($67...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil increased over the past week due to the limitations imposed on steelmakers' output in September and October being expected to provide support for prices, sources said.More than 30 mills in China's steelmaking hub of Tangshan were instructed to reduce sintering and blast furnace operations by up to 50% between September 1 and...Read More
Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday September 3 that are worth another look.Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down.The seaborne high-grade manganese ore index fell in the...Read More
Prices for steel rebar and billet imported into the United Arab Emirates have decreased over the past week, with demand remaining poor, sources said on Tuesday September 3.Market participants believed that demand would improve after the price falls stopped, because buyers did not want to book while prices were still on their way downward.Domestic rebarEmirates Steel is the UAE's largest producer,...Read More