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
Global nickel premiums were flat in the week to Tuesday August 27, with subdued spot consumption reported across the board, precipitated by seasonal illiquidity in Europe and the United States and increased arbitrage losses in China. Chinese premiums traded flat with consumers deterred from purchasing by a negative arbitrage of 6,400 yuan per tonne, which has increased from 6,000 yuan per tonne o...Read More
The Shanghai copper cathode premium was higher in the week to Tuesday August 27, marking the fifth uptick this month largely due to emerging tightness in SX-EW availability, while broadly stagnant demand over the summer period has limited spot business in Europe and the United States. SX-EW cathode brand price gap emerges End-use demand a missing factor for European premiums Subdued s...Read More
Quieter market conditions in the United States ahead of Labor Day in early September caused the US zinc premium to fall on the top end of the range on Tuesday August 27, while increased demand for secondary lead due to the smelter shutdown at Port Pirie supported the secondary lead premium in Taiwan. US zinc premium slightly down amid thin spot trades ahead of Labor Day holiday. European, A...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
The price of steel rebar in the domestic market of Southern Europe was unchanged this week with trading yet to emerge from the traditional August slump, sources told Fastmarkets on Wednesday August 28.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was unchanged week on week at ?,?470-485 ($522-538) per tonne on Wednesday.While...Read More
The price of steel rebar in the Northern European domestic market was stable this week despite activity beginning to pick up following the traditional August slowdown, Fastmarkets heard on Wednesday August 28.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?500-520 ($555-577) per tonne on Wednesday, unchanged week on week.Some trad...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
Rebar prices in Russia's major steel-consuming region, the Central Federal District, went down over the week ended Tuesday August 27 because of high supply volumes combined with falling demand.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 37,000-38,000 roubles ($557-572) per tonne on Tuesday, down from 39,000 roubles pe...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 latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreBHP, private tender, 110,000 tonnes of 57.1% Fe Yandi fines, traded at the September average of two 62% Fe indices, adjusted...Read More
Prices for seaborne cargoes of premium hard coking coal in the fob Australia segment took a tumble on Wednesday August 28 in contrast with strengthening cfr China ones, underlining the robust demand for top-quality materials in China compared with the rest of the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $149 per tonne, down $5.28 per tonnePremium hard coking coal, cfr Jingtang...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
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
The London Metal Exchange three-month nickel price led gains during the morning session on Wednesday August 28 while the rest of the base metals complex followed a lackluster trajectory of minimal gains on slim trading volumes. The LME three-month nickel price is closing the gap on the $16,000 per tonne psychological level, trading up 1.5% to around $15,950 per tonne this morning. The nickel contr...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
The following Fastmarkets minor metals prices changed on Wednesday August 28:Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,750-5,950 per tonne from $5,850-6,050Antimony MMTA standard grade II, ddp China, yuan/tonne: 36,000-37,000 yuan per tonne from 36,500-37,500 yuanBismuth 99.99% Bi min, in-whs Rotterdam, $/lb:...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
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday August 28:Aluminium scrapClean HE9 extrusions, delivered consumer UK, ?/tonne:...Read More