Here are five Fastmarkets MB stories you might have missed on Monday April 22 that are worth another look.The US copper market began trading in the red on Monday April 22, with market participants bearish despite a softer dollar and growing optimism of a breakthrough in American and Chinese trade talks. Brazilian steelmaker and miner Usiminas maintained its production target of 7.5-8 mil...Read More
A summary of South32's production results for its financial third quarter ended March 31, 2019, as well as its full-year production guidance.In brief Global diversified mining and metal company South32 raised its 2019 production guidance for manganese ore to 5,630,000 wet metric tonnes, up 89,000 tonnes from 5,541,000 tonnes in financial year 2018, in response to favorable demand in the market. Th...Read More
Fastmarkets MB's bi-weekly Shanghai-bonded copper stock assessment scheduled for Monday April 22 will be published on Tuesday April 23 instead due to the Easter Monday holiday.It is a national holiday in London from Friday April 19 to Monday April 22. For any inquiries please contact Ellie Wang at ellie.wang@fastmarkets.com with the subject line: "Re: Shanghai-bonded copper stock assessment"Read More
Base metals stocks, barring those for lead, held in Shanghai Futures Exchange warehouses declined in the week ended Friday April 19.Copper stocks at SHFE-approved sheds fell by 3.4% or 8,444 tonnes last week to total 236,734 tonnes on April 19, marking the third consecutive weekly decline. Stocks had totaled 261,412 tonnes on March 29.The drawdown in red metal stocks follows the start of the secon...Read More
Base metals traded on the Shanghai Futures Exchange exhibited mixed moves during morning trading on Monday April 22, with volumes limited following the Easter holiday weekend.With a number of markets closed in observance of Easter Monday and the dollar index in relative high ground, the SHFE base metals complex could find no clear direction; copper, zinc and tin prices were weaker, while those for...Read More
Brazilian flat steel producer Usiminas plans to invest around 60-70 million Reais ($15-18 million) this year in preparations for maintenance work at its No3 blast furnace in Ipatinga city, in the southeastern Minas Gerais state.The reform is expected to be made in 2020-21, according to the company, but Usiminas is already preparing for expenses with projects and equipment acquisition."After the bl...Read More
Cold-rolled coil and coated steel prices in the United States edged down over the past week, due partly to the spillover effect from a decline in hot-rolled coil to below $34 per hundredweight ($680 per short ton) last week.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil fell by 50 cents to $41.50 per cwt on Thursday April 18 from $42 per cwt the prior week.The domestic...Read More
Prices for most foreign flat-rolled steel imported into the United States have continued to trend lower, with offshore material becoming less attractive due to falling domestic prices.That's especially true in the case of hot-rolled coil, where US prices have fallen below $680 per short ton ($34 per hundredweight) for the first time since late February."In today's market, it's hard to put a deal t...Read More
Indian secondary billet prices rose slightly in the week to Friday April 19, with supply remaining tight due to lower production.Fastmarkets MB's price assessment for domestic secondary billet was up by 100 rupees ($1) per tonne to 31,400-31,600 rupees per tonne ex-mill compared with the prior week's assessment of 31,300-31,500 rupees per...Read More
China has reached peak annual steel consumption of 850-900 million tonnes, according to the China Iron and Steel Association (Cisa).The country consumed 870 million tonnes of steel in 2018 and "such a level will last for several years" as the country's peak period of steel consumption, Cisa vice chairman Chi Jingdong said recently at the 17th International Steel Market and Trade Conference in Nanj...Read More
Brazilian steelmaker and miner Usiminas maintained its production target of 7.5-8 million tonnes of iron ore in 2019, despite uncertainties that surround the start of operations at two plants needed to reach that volume, the head of its mining unit, Carlos Rezzonico, said on Friday April 19.The company's iron ore output was 5.65 million tonnes last year.Licensing for the mining industry in Brazil...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 transaction: iron oreIron oreVale, Beijing...Read More
Trading activity for iron ore pellets in the seaborne market appeared to pick up last week while that for concentrate remained relatively muted.PelletsThe weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was at $128.08 per tonne cfr China last Thursday April 18, up $0.58 per tonne from the preceding week.A number of transactions involving 64% Fe Jindal pellets took place at $117-120 per ton...Read More
The price of antimony in China stalled in the latest assessment period ended on Wednesday April 17, with the country's suppliers holding offers relatively firm as consumer enthusiasm in restocking waned.Fastmarkets' price assessment for MMTA standard-grade II antimony, delivered duty-paid in China, was assessed at 44,000-45,000 yuan ($6,573-6,722) per tonne on Wednesday, flat week on week.The Chin...Read More
Key data from the pricing session in China on Friday April 19.Key driversLow liquidity and few deals heard over the past week. Some Chinese exporters are considering reducing their offer prices to compete with lower-priced, off-grade material. Most kept their offer prices unchanged from a week earlier, however. Prices are likely to face headwinds in the form...Read More
An overview of the minor metals markets and the reasons for any price moves.[Note: Minor metals prices in...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Futures responded to a series of better-than-consensus firsts quarter reports.Whirlpool (WHR $139.36) is expected to open higher after reporting higher than consensus first quarter revenues and earnings. The company also raised guidance. United Technologies (UTX $136.91) is expected to op...Read More
Steel billet prices were mostly unchanged or went down in most regions in the week ended Thursday April 18, due to thin trading activity amid political elections, public holidays and full order books.CIS, Turkey, Middle East-North AfricaBillet producers in the Commonwealth of Independent States (CIS) have started to seek sales opportunities in Asia, considering the weak sentiment in their traditio...Read More
Steel billet prices were mostly unchanged or went down in most regions in the week ended Thursday April 18, due to thin trading activity amid political elections, public holidays and full order books.CIS, Turkey, Middle East-North AfricaBillet producers in the Commonwealth of Independent States (CIS) have started to seek sales opportunities in Asia, considering the weak sentiment in their traditio...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade.Crude oil gained $1.70 to $65.70 after the United States halted waivers to countries that are importing oil from Iran. Energy stocks are expected to open higher.Halliburton added $0.87 to $32.00 after reporting higher than consensus first quarter sales and earnings.Kimberly Clark (KMB $12...Read More