Import prices for stainless steel in East Asia rose over the week ended Wednesday July 17 after producers adjusted their asking prices upward in response to a rally in the price of nickel on the London Metal Exchange.Following seven consecutive days of gains after July 5, the price of nickel, 3 months, LME Daily Official, ended the official trading session on July 16 at a 2019 high of $13,960-13,9...Read More
The domestic prices of hollow steel sections in Northern and Southern Europe fell this week, pressured lower by poor demand, market sources said.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-630 ($696-708) per tonne on Wednesday July 17, down from ?,?625-640 one week earlier."Some mills are decreasing capacity but it seems not to have wo...Read More
Demand for passenger cars in Europe decreased by 7.85% year-on-year in June 2019, the European Automotive Manufacturers Association (ACEA) said on Wednesday July 17.New car sales in Europe totalled 1,446,183 units in June, compared with 1,569,363 vehicles sold in the corresponding month of 2018."To a large extent, this drop [in June] can be attributed to a negative calendar effect. On average, Jun...Read More
BHP expects its Western Australia Iron Ore operations to produce 273-286 million tonnes of the steelmaking raw material on a 100% basis over the next 12 months amid a significant maintenance program at the Port of Port Hedland, from which it ships its cargoes abroad."As part of this, a major car dumper maintenance campaign is planned for the September 2019 quarter, with a corresponding impact expe...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 17.Please click...Read More
Nickel's three-month price on the London Metal Exchange continued its uptrend at the close of trading on Wednesday July 17, appreciating by 3% to surpass $14,400 per tonne and trade at its highest level in a year.The metal's futures price traded at an intraday low of $13,900 per tonne during Asian trading hours, before climbing to an intraday high of $14,460 per tonne during the European trading d...Read More
Physical iron ore prices fell backward on Wednesday July 17 amid losses in the futures market, after the Dalian Commodity Exchange (DCE) increased the cost of trading.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.27 per tonne, down by $0.88 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.19 per tonne, down by $0.88 per tonne.Fastmarkets' in...Read More
Domestic prices for hot-rolled coil (HRC) have decreased over the past week in the south of Europe due to slow trading, market sources told Fastmarkets on Wednesday July 17.Prices in the north of the EU have been largely stable, however, although the market was reported to be slow.Despite weak market activity, steelmakers were reported to be considering price rises for September-rolling coil produ...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 17 that are worth another look.China's top copper concentrate buyers are in a fix. On Thursday July 18, the historically powerful China Smelter Purchase Team will gather for a quarterly meeting that traditionally is an arena for members to share information on trade flows and maintenance schedules, and to set a quarterly...Read More
A multi-year low in the cobalt metal price in China triggered the speculative buying witnessed over the week to July 12, which is likely to be followed by restocking activity in the spot market, Fastmarkets learned.Fastmarkets' assessment of the price for cobalt 99.8% Co min, ex-works China was at 210,000-230,000 yuan ($12.27-13.43 per lb, minus China VAT) per tonne on Friday July 12, down nearly...Read More
Global alumina prices have plummeted over the past two months in June and July due to poor demand and a surplus of excess cargoes in the market.Alumina prices in Western Australia, Brazil and China are all down over 15% since May and close to their lowest level in over two years. This is a stark contrast to this time last year, when alumina prices were trading close to record highs following strik...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 17.Please click...Read More
Nickel's three-month price on the London Metal Exchange continued its uptrend at the close of trading on Wednesday July 17, appreciating by 3% to surpass $14,400 per tonne and trade at its highest level in a year.The metal's futures price traded at an intraday low of $13,900 per tonne during Asian trading hours, before climbing to an intraday high of $14,460 per tonne during the European trading d...Read More
Physical iron ore prices fell backward on Wednesday July 17 amid losses in the futures market, after the Dalian Commodity Exchange (DCE) increased the cost of trading.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.27 per tonne, down by $0.88 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.19 per tonne, down by $0.88 per tonne.Fastmarkets' in...Read More
Tin premiums across all global locations were flat in the week ending Tuesday July 16, with the metal's volatile three-month price and weakening demand picture capping spot liquidity. Some say weak European demand is weighing on sales, premiums. US market illiquid; premiums hold, despite pressure from aggressive new suppliers. Weak demand kept Chinese tin premiums unchanged.Low prices, supportive...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 17 that are worth another look.China's top copper concentrate buyers are in a fix. On Thursday July 18, the historically powerful China Smelter Purchase Team will gather for a quarterly meeting that traditionally is an arena for members to share information on trade flows and maintenance schedules, and to set a quarterly...Read More
The United States could be hit with sanctions from China if countervailing duties targeting 22 Chinese goods are not recalculated after the World Trade Organization appellate body determined on Tuesday July 16 that the US violated WTO rulings with those duties.The WTO Appellate Body ruled 2-1 that the US countervailing duties were inconsistent with WTO rulings, determining that the US had not prov...Read More
China's top copper concentrate buyers are in a fix.On Thursday July 18, the historically powerful China Smelter Purchase Team (CSPT), which comprises purchasing managers from the country's 10 top-rated state-backed copper smelters, will gather in Hunchun city for their quarterly meeting.Traditionally, the forum is an arena for members to share information on trade flows and maintenance schedules,...Read More
Insurer AON and software developer Gen10 have joined Dutch bank Rabobank, international trading firm Concord Resources and warehousing firm PGS in the development of the blockchain trading platform for the metal repo financing business.Beyond Commodities will initially settle digital metal repo transactions in which aluminium stored at PGS will be sold and re-purchased by Concord to...Read More