Base metals prices on the London Metal Exchange were mostly suppressed during morning trading on Monday June 17 amid fragile risk sentiment. Continuing trade tensions between the United States and China and fresh geopolitical tension between the US and Iran, coupled with a slew of lackluster economic data from China, are capping any significant price gains."Whatever gains we seeing today are too m...Read More
The global macroeconomic backdrop remains riddled with high amounts of uncertainty this morning, Monday June 17, as the trade conflict between China and the United States drags on with seemingly little progress being made toward an amicable resolution while tensions between the US and Iran look set to ratchet up in the coming days.Meanwhile in Asia, protests in Hong Kong over a controversial extra...Read More
Malaysia Smelting Corp (MSC) has denied reports that its tin shipments are delayed, but sources have been telling Fastmarkets for weeks that MSC not only has issues delivering metal it has refined but a more fundamental problem of having almost no tin concentrate to refine.Some of these supply-side sources say MSC's concentrate shortages will be an ongoing problem, predicting that reduced output f...Read More
Malaysian rebar is ready to be sold into Singapore after a major Malaysian producer Alliance Steel achieved Cares certification, market sources told Fastmarkets."A major trading company had previously applied for the certification so that [it could] import Malaysian rebar into Singapore," a source told Fastmarkets on Friday June 14.The Cares certification will allow major buyers in Singa...Read More
China's hot-rolled coil prices declined further on Monday June 17, with mills coming under pressure to secure orders.DomesticEastern China (Shanghai): 3,750-3,780 yuan ($541-546) per tonne, down 30-50 yuan per tonneNorthern China (Tianjin): 3,740-3,750 yuan per tonne, down 40 yuan per tonneA few mills gave discounts to their long-term contract customers during the day to secure orders for delivery...Read More
China's rebar prices tumbled on Monday June 17 after the billet market plunged over the weekend.Domestic Eastern China (Shanghai): 3,820-3,850 yuan ($552-556) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,680-3,730 yuan per tonne, down 100 yuan per tonneRe-rollers stopped production in Tangshan's Fengrun district as instructed by local authorities in an effort to stem emissions, res...Read More
A top Japanese steelmaker expects hot-rolled coil prices in Asia to rebound soon because they are nearing a bottom, a source told Fastmarkets this week.While it has lowered its offers for its July-shipment HRC to the key Southeast Asian market, in response to competitive offers from other regional producers, it does not expect prices to fall much further in the wider region."Due to weak demand in...Read More
Hot-rolled coil prices in Vietnam have continued to fall because of limited demand and lower offers from domestic producer Formosa Ha Tinh Steel Corp.Fastmarkets' weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $493-495 per tonne cfr for the week to Monday June 17, down...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Physical iron ore prices dropped back on Monday June 17 after staying above $110 per tonne cfr last Thursday and Friday, but premiums remained robust for Pilbara Blend fines.MB 62% Fe Iron Ore Index: $108.21 per tonne cfr Qingdao, down $2.09 per tonne. MB 62% Fe Pilbara Blend Fines Index: $107.01 per tonne cfr Qingdao, down $2.09 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $110.75 per tonne c...Read More
The low-vol pulverized coal injection (PCI) segment of the seaborne coking coal market - particularly the fob Australia one - tumbled on Monday June 17 with a cargo changing hands nearly $10 per tonne below prevailing levels.A miner sold a shipment of low-vol product in that segment, scheduled for loading over July 8-17, to a Chinese trader at $121.28 per tonne fob Australia via a tender during th...Read More
The market for pig iron in the United States was calm and weak in the week to Friday June 14 as both buyers and sellers were not ready to negotiate deals, sources told Fastmarkets. Fastmarkets' import price assessment for pig iron in the US was $345 per tonne cfr on June 14, compared with $345-350 per tonne cfr last week. A workable buyer level "would be around $340-345 per tonne cfr, bu...Read More
Seaborne iron ore concentrate and pellet prices rose last week in line with a general uptrend in the market for the steelmaking raw material.ConcentrateThe weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $118.49 per tonne cfr China last Friday June 14, up by $6.47 per tonne week on week.The daily Fastmarkets MB 65% Fe Iron Ore Index averaged $120.98 per tonne cfr China last week,...Read More
With the exception of nickel and tin that were little changed, base metals prices on the Shanghai Futures Exchange were all down during morning trading on Monday June 17 following the release of disappointing Chinese data at the end of last week. Tin was unchanged, nickel edged up by 0.1% while the rest weakened: copper (-0.5%), aluminium (-0.7%), lead (-0.7%) and zinc (-0.5%).The broadly weak sho...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 14.China China silicon export prices were unchanged for the fourth consecutive week amid thin inquiries and sporadic spot activity. Tight silicon ore supply in Xinjiang province remains, however, some sources said that most silicon refiners in major production hub Yunnan province have started to resume...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 14.ChinaKey drivers Domestic antimony price in China remained unchanged while suppliers' held offer prices relatively firm after the antimony branch of the China Nonferrous Metals Industry Association (CNIA) called major suppliers to cut production to stem a price fall at a meeting on June 1. Few domestic antimony...Read More
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MJP aluminium stocks down 1.3% month...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as s...Read More
Aluminium The LME three-month aluminium price remains on...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus downl...Read More
In this week’s analysis, we review...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More