China's rebar prices were unchanged on Wednesday June 26 amid softer spot demand and a slight rise in the futures market. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, unchangedNorthern China (Beijing): 3,770-3,800 yuan per tonne, unchangedRebar futures edged up during the day but failed to push up spot prices.Continual rain in eastern China this week dampened end-user...Read More
Base metals on the London Metal Exchange were barely changed during a subdued morning session on Wednesday June 26, with a firmer dollar and sluggish US economic data constraining trading.Market analysts therefore remain cautious while optimism ebbs and flows, broadly capping any gains across the complex."The rebound momentum in the LME base metals earlier this week may all be mere short-covering...Read More
The bullish momentum seen on Tuesday June 25 seems to have run its course because base metals prices were mostly mixed in the early Asian trading session on Wednesday. Markets seem to have already priced in the positivity surrounding an upcoming meeting between US president Donald Trump and China's Xi Jinping at the Group of Twenty (G20) summit in Japan later this week.Both countries are seeking t...Read More
Base metals prices on the Shanghai Futures Exchange were split into two camps during Asian morning trading on Wednesday June 26, with copper, nickel and zinc securing gains while the rest weakened marginally.The mixed moves come as a slight recovery in the dollar offsets the optimism stemming from recent trade developments ahead of upcoming talks between US President Donald Trump and China's Xi Ji...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Fastmarkets' Wednesday June 26 pricing session in Europe.Key drivers The European ferro-titanium price fell for the fifth consecutive week after six weeks of stability. Demand has been quieter since an initial bout of short-covering in mid-April when major European producer FE Mottram stopped production after a fire damaged its UK plant.FE Mottram aims to restart production aroun...Read More
The following Fastmarkets minor metals prices changed on Wednesday June 26:Antimony MB free market regulus, $/tonne: $6,300-6,500 per tonne from $6,300-6,550Cobalt MB free market alloy grade, $/lb: $14.35-14.80 per lb from $14.50-15.15Cobalt MB free...Read More
UK aluminium alloy producers have been forced to close smelters or partially cease production as a confluence of weakening automotive sector demand for material, sluggish regional gross domestic product (GDP) growth and tariff uncertainty continues to push LM24 ingot prices lower. Market participants have reported rumors that three prominent UK secondary aluminium smelters have ceased operations w...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday June 26:Aluminium scrapCommercial pure cuttings: ?900-950 per tonne from ?920-960Loose old rolled cuttings: ?635-650 per tonne from ?650-665Commercial cast: ?700-750 per...Read More
US Durable Goods Orders down 0.2% (NSA) in May, negatively diverging from the 2.9% average increase for this time of year. $MACRO #Economy #ManufacturingBlackBerry $BB.CA $BB, a TSX 60 stock moved below $10.37 and $7.70 U.S. on lower than consensus first quarter revenues extending an intermediate downtrendTechnical action by S&P 500 stocks to 10:00: Bearish. No intermediate breakouts. Breakdow...Read More
Fastmarkets wishes to clarify the specification of the Vietnam steel scrap assessment, which is based on heavy melting scrap 1&2 of 80:20 quality.The name of this price, which from July 5 will have the symbol MB-STE-0783 exclusively associated with it, has been amended to steel scrap HMS 1&2 (80:20), cfr Vietnam, $/tonne. The specifications for this price are as follows:Assessment: Steel...Read More
Prices for imported billet in the United Arab Emirates weakened over the past week, in line with lower offers and a lack of demand, sources said on Tuesday June 25.Domestic rebar The domestic rebar market in the UAE was sluggish due to a drop in demand during the summer period. The UAE's largest producer, Emirates Steel, was offering rebar at 1,881 dirhams ($512) per tonne ex-works this week, whil...Read More
Northern China's domestic rebar prices continued to rise on Tuesday June 25 amid surging futures, though the eastern Chinese market held steady.Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, unchangedNorthern China (Beijing): 3,770-3,800 yuan per tonne, up 30-40 yuan per tonneTraders in Shanghai kept prices flat despite rising futures in an attempt to secure more sales.B...Read More
Chrome ore prices dropped again in China and alloy prices weakened globally in the week ended Friday June 21 due to poor demand. Ore prices down for seventh week runningCharge chrome import prices weaken in ChinaAlloy prices dip in Japan, South KoreaEuropean alloy prices slumpUS market flat once again UG2 chrome ore prices in China slid for the seventh consecutive week on Friday after some suppli...Read More
Ferro-silicon prices in China were stable in the week ended Friday June 21, extending a steady run in the market for a fifth consecutive week against firm Chinese futures prices and relatively limited availability in the physical market.In Europe, the market has fallen due to weak spot demand and an increasing number of quarterly deals done below ?,?1,000 ($1,139) per tonne, which has dragged down...Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 25.Please click...Read More
Australia's Sandfire Resources is to acquire Botswana, Africa-focused copper development and exploration company MOD Resources in a deal worth A$167 million ($116.38 million). The offer has been made on a share-to-share basis, with 0.0664 Sandfire shares to be offered for each MOD share held, the companies said a joint announcement through the Australian Stock Exchange on Tuesday Ju...Read More
Base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Tuesday June 25, while a spate of short-covering meant healthy trading volumes drove gains across the majority of the complex.Marginal headway made in US-Sino trade negotiations, with US President Donald Trump and China's Xi Jinping set to meet at the G20 Summit in Japan this week, is supporting risk sentime...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose for the first time since early April after the municipal government in northern China's steelmaking hub of Tangshan said steelmakers in the city would have to lower production by at least 20% until the end of July to reduce pollution.Prices in the upstream HRC market surged following the announcement, with Fastmarkets M...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday June 25 that are worth another look.Some of Jiangxi Tungsten Holding Group's tungsten mines have had to cut production due to floods caused by heavy rain since the start of June in China's Jiangxi province, with some market sources expecting this to cap the downtrend in tungsten concentrate prices. Static trading conditions...Read More