A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 28.Please click...Read More
The London Metal Exchange tin price has fallen to a four-year low, and the sell-off has prompted somewhat different regional reactions in the week to Tuesday August 27. Europe sees little buying despite low tin prices. Low LME price prompts some US buyers to return Limited arbitrage opportunities keep cif Shanghai tin at $230-250 per tonne European premiums static despite 12% price slump In...Read More
An overview of the noble alloys markets and their latest price moves.Read More
An overview of the minor metals markets and their latest price moves.Read More
Turkish steel mills took a break from deep-sea scrap purchasing on Wednesday August 28, after booking a number of cargoes for September delivery over the past week, sources told Fastmarkets.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 Tuesday, August 27.But market participants were expecti...Read More
Key data from Fastmarkets' Wednesday August 28 pricing session in Europe. Key drivers The ferro-titanium market price range widened with suppliers reporting deals done at the upper and lower end of the new price range. Suppliers reported increased buying interest, although few deals done. One major deal was reported done to a German consumer. UK producer FE Mottram has yet to restart p...Read More
Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019.These five currency pairs should be on your watch-list for the significant influences they could bring to bear on key global steel and ferrous scrap trade flow...Read More
With gold prices up at near six-year highs, markets remain nervous on Wednesday August 28 about just how much damage the United States-China trade war is doing and whether it will be reversible before it leads to a global recession. Most base metals prices have fallen to low levels and are failing to get any support while the depressed macro environment dominates. The exceptions are nickel, and to...Read More
Australian lithium spodumene producer Galaxy Resources has bought Alita Resources' debt for $31.1 million, including interest, fees and costs. Alita Resources, also based in Australia, suspended securities trading on August 14 to discuss its debt situation with its consortium of lenders led by Tribeca Investment Partners, Fastmarkets reported earlier. On August 16, Tribeca gave Alita a notice...Read More
China's domestic hot-rolled coil market shed most of its downward momentum on Wednesday August 28 on higher trading activity, though overseas buyers submitted lower bids for exports of the flat steel product.DomesticEastern China (Shanghai): 3,600-3,610 yuan ($503-504) per tonne, narrowing downward 20 yuan per tonneNorthern China (Tangshan): 3,600-3,620 yuan per tonne, widening upward 20 yuan per...Read More
Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019.These five currency pairs should be on your watch-list for the significant influences they could bring to bear on key global steel and ferrous scrap trade flow...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday August 28 that are worth another look.Australian lithium spodumene producer Galaxy Resources has bought Alita Resources' debt for $31.1 million, including interest, fees and costs.Chinese aluminium producers are ramping up production on improved aluminium prices, with output at one smelter - Shanxi Meixin Industry - now runnin...Read More
The price of steel hollow sections in the European domestic market has been reduced, with mills looking to stimulate demand by making lower offers, sources told Fastmarkets on Wednesday August 28.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?585-630 ($649-699) per tonne on Wednesday, widening downward by ?,?30 per tonne.The correspond...Read More
The price of mesh-quality steel wire rod in the European domestic market was unchanged this week, although soft demand could put pressure on prices in the coming weeks, Fastmarkets heard on Wednesday August 28.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?485-510 ($538-566) per tonne on Wednesday, unchanged week on week.Meanwhil...Read More
Turkish steel mills took a break from deep-sea scrap purchasing on Wednesday August 28, after booking a number of cargoes for September delivery over the past week, sources told Fastmarkets.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 Tuesday, August 27.But market participants were expecti...Read More
Physical iron ore prices changed only slightly on Wednesday August 28, while market participants continued to wait for further news about production restrictions in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.45 per tonne, up by $0.10 per tonne.62% Fe Pilbara Blend Fines, cfr Qingdao: $82.83 per tonne, up by $0.10 per tonne.62% Fe low-alumina fines, cfr Qingdao: $81.16 per ton...Read More
The CIS export price for steel billet slipped on Wednesday August 28, following the sharp drop in ferrous scrap prices earlier this week as well as the lack of trading activity in the semi-finished steel market.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $390 per tonne on August 28, down by $5 day on day.Most mills were offering material at around $400 per tonne fob Blac...Read More
Iranian export prices for steel billet and slab slipped in the week ended Wednesday August 28 amid a general downtrend in the global steel market as well as pressure from customers, with bids placed at lower levels on the lack of trading activity for finished steel.Iranian billet was available to foreign customers for around $375-380 per tonne fob, down from $385-387 per tonne fob a week earlier.I...Read More
China's domestic rebar market weakened for a third day on Wednesday August 28, sending prices in the eastern region to their lowest in a year-and-a-half. Domestic Eastern China (Shanghai): 3,530-3,580 yuan ($493-500) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,530-3,550 yuan per tonne, down 10 yuan per tonneSubdued demand and a continual decline in the iron ore market pushed down...Read More
Key data from Fastmarkets' Wednesday August 28 pricing session in Europe. Key drivers The ferro-titanium market price range widened with suppliers reporting deals done at the upper and lower end of the new price range. Suppliers reported increased buying interest, although few deals done. One major deal was reported done to a German consumer. UK producer FE Mottram has yet to restart p...Read More