The price of mesh-quality steel wire rod in the Northern European domestic market decreased this week because of poor demand, sources told Fastmarkets on Wednesday September 4.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?470-500 ($515-548) per tonne on Wednesday, down by ?,?10-15 per tonne.Underlying consumption of wire...Read More
European market participants now question whether an expected domestic price rise for hot-rolled coil (HRC) will be seen, due to the emergence of competitive offers from India, sources told Fastmarkets on Wednesday September 4.Buyers had expected that transaction prices would move up in the first half of September, supported by a seasonal recovery in trading activity.But this expectation has faded...Read More
The price range for steel rebar in the domestic market in Southern Europe widened downward this week with decreasing ferrous scrap prices and falling demand for exports from customers in Northern Europe, sources told Fastmarkets on Wednesday September 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?460-485 ($504-531) per tonne,...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 4.Please click...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 4 that are worth another look.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.Zinc premiums in Northern Europe have risen with falling zinc prices, while sp...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 4.Please click...Read More
The three-month zinc price on the London Metal Exchange topped gains at the close of trading on Wednesday September 4, appreciating by almost 5% to close at its highest level since August 5, while the copper outright price closed at a two-week high. The three-month zinc contract ended the day's trading at $2,310 per tonne, closing above the nearby resistance level for the first time since early Au...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
The price of steel rebar in the Northern European domestic market moved slightly lower this week on decreasing ferrous scrap costs, sources told Fastmarkets on Wednesday September 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?490-515 ($537-564) per tonne on Wednesday, down by ?,?5-10 per tonne week on week.Meanwhile, Fastmarke...Read More
The three-month zinc price on the London Metal Exchange topped gains at the close of trading on Wednesday September 4, appreciating by almost 5% to close at its highest level since August 5, while the copper outright price closed at a two-week high. The three-month zinc contract ended the day's trading at $2,310 per tonne, closing above the nearby resistance level for the first time since early Au...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 4 that are worth another look.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.Zinc premiums in Northern Europe have risen with falling zinc prices, while sp...Read More
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