Due to a technical issue, Fastmarkets MB's 65% Fe Brazil-origin iron ore fines index data series found in the Fastmarkets Excel Add-in had some missing data. The missing data was scattered from November 2014 to March 2015.The missing data was from November 26, 2014 to December 5, 2014; December 16, 2014; from December 22, 2014 to January 5, 2015; January 16, 2015; and from January 19, 2015 to Marc...Read More
The three-month price of nickel traded on the London Metal Exchange continued to outshine the rest of the base metals complex on Thursday August 29, up by 2.3% at the close to $16,445 per tonne, compared with yesterday's close at $16,085 per tonne.The LME cash/three-month nickel spread continued to trade in its widest backwardation for 12 years, at $99 per tonne at the close of trading, a marginal...Read More
Turkish steel billet prices have gone down over the past week in line with falling scrap values and limited demand for the material, sources said on Thursday August 29.Fastmarkets' weekly price assessment for steel billet, import, cfr main port Turkey, was $395-405 per tonne on Thursday, down from last week's $410-415 per tonne cfr.The suppliers in the Commonwealth of Independent States (CIS) have...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday August 29 that are worth another look.The three-month nickel contract continued to outshine the rest of the London Metal Exchange base metals complex, rising by 2.3% at the close of trading on Thursday August 29.The iron ore market will be watching the rollout of China's policies and Chinese buyers' procurem...Read More
The iron ore market will be watching the rollout of China's policies and Chinese buyers' procurement strategies in the winter months to see what lies ahead for the steelmaking raw material, which has faced substantial price volatility this year. The winter heating season in China has become a crucial period for iron ore buyers and suppliers, with environmental protection a key aspect of China's 13...Read More
The three-month price of nickel traded on the London Metal Exchange continued to outshine the rest of the base metals complex on Thursday August 29, up by 2.3% at the close to $16,445 per tonne, compared with yesterday's close at $16,085 per tonne.The LME cash/three-month nickel spread continued to trade in its widest backwardation for 12 years, at $99 per tonne at the close of trading, a marginal...Read More
Seaborne coking coal prices were largely steady on Thursday August 29 after the most-recent transactions sent fob Australia and cfr China prices for premium products in opposite directions.Fastmarkets indicesPremium hard coking coal, fob DBCT: $149 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.54 per tonne, unchanged Hard coking coal, fob DBCT: $134.01 per to...Read More
The three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen. The fresh cancellations in copper now total just over 59,000 tonnes, the bulk of which have occurred out of LME-registered warehouses in Asia. Yet the red metal...Read More
Turkish domestic rebar prices have seen a slight recovery because of the weakness of the country's lira, although demand for material was still poor, sources said on Thursday August 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was TRY3,000-3,030 ($515-521) per tonne on Thursday, up from last week's TRY2,970-3,030 per tonne ex-works, including 18%...Read More
The Turkish steel producers have remained quiet in the deep-sea scrap markets, expecting lower prices, after recently booking a number of cargoes for early-September deliveries, sources said on Thursday August 29.Most recent bookings involved US and UK cargoes sold at $270 per tonne cfr for HMS 1&2 (80:20), dragging the daily indices down by almost $12 per tonne on August 27.But the mills have low...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday August 29 that are worth another look.The three-month nickel contract continued to outshine the rest of the London Metal Exchange base metals complex, rising by 2.3% at the close of trading on Thursday August 29.The iron ore market will be watching the rollout of China's policies and Chinese buyers' procurem...Read More
Prices for all brass scrap grades continued to slide over the week to Wednesday August 28, with slow domestic demand and China's restrictions on scrap imports from the United States taking a toll on the market.Fastmarkets' assessment for the copper scrap No1 comp solids, discount, buying price, delivered to brass ingot makers, fell by 4 cents to $1.88-1.92 per lb on August 28, extending a dow...Read More
Mark Lowe left Nizi International, where he was head of base metals, in June after one year with the Luxembourg trading house, Fastmarkets has learned. The former MRI chief executive officer was hired in mid-2018 to help Nizi diversify...Read More
The three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen. The fresh cancellations in copper now total just over 59,000 tonnes, the bulk of which have occurred out of LME-registered warehouses in Asia. Yet the red metal...Read More
Markets remain nervous on Thursday August 29, especially since the next wave of US tariff increases on Chinese goods are set to come into effect on September 1 and the US yield curve is showing the deepest inversion since 2007, with the 30-year yield falling to a historic low on Wednesday. Apart from nickel and to a lesser extent lead, most base metals prices remain in low ground, seemingly becaus...Read More
Domestic stainless steel prices in China continued to fall over the past week amid soft demand.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,900-15,300 yuan ($2,079-2,135) per tonne including value-added tax for the week ended Wednesday August 28, down 100 yuan per tonne from a week earlier. Stai...Read More
Market caution over developments surrounding the trade spat between the United States and China left metals prices on the Shanghai Futures Exchange mixed, with nickel being the best-performing contract during morning trading on Thursday August 29 amid supply uncertainties and strong speculative sentiment."Supply-side uncertainties continue to support nickel prices, with markets awaiting clarity ov...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil decreased over the week ended Thursday August 29, with the market still slow because of falling prices, sources told Fastmarkets.The country's main export market, Europe, was still in its holiday season, so the export sector remained slow.Domestic pricesDemand in the country's local market was poor over the pricing week beca...Read More
Turkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) decreased over the week ended Thursday August 29, with demand remaining soft, sources have told Fastmarkets.Buyers wanted to wait to see when prices will reach a bottom before placing orders, while end-user demand was still subdued by the summer holiday season.HRC exportsTurkey's export market price for HRC decreased this week on l...Read More
Turkish long steel export prices have gone down over the past week due to sluggish demand and falling raw material costs, sources said on Thursday August 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $435-440 per tonne on Thursday, down from last week's $440-450 per tonne fob on an actual weight basis.Turkish producers have reduced...Read More