Import prices for stainless cold-rolled coil in East Asia were mostly steady over the past week due to soft demand and a stable nickel market, while those for stainless hot-rolled coil fell due to excess spot supply.Stainless CRCFastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed CRC in East Asia was $2,030-2,100 per tonne cif on Wednesday April 17, unchanged fr...Read More
China's stainless steel prices dropped over the past week on sustained weakness in demand and rising inventory levels in the spot market.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,100-14,500 yuan ($2,106-2,166) per tonne including value-added tax for the week ended Wednesday April 17, down 300 yuan per tonne from a wee...Read More
Ferrous scrap prices in Asia continued to slide this week due to a series of mill stoppages in the region, market sources told Fastmarkets MB.The weak demand led traders to divert excess supply to other key markets.But market sources think prices have likely bottomed out and should experience a rebound soon.VietnamThe Fastmarkets MB import price assessment for bulk cargoes of heavy melting scrap 1...Read More
European demand for finished steel products is forecast to grow by 0.3% year on year in 2019 to 170.2 million tonnes amid a 'deteriorating trade environment and uncertainty over Brexit', according to the World steel association's (Worldsteel) latest short-range outlook."We expect slower growth in demand for steel in the major EU economies (especially in those more export dependent) in 2019," World...Read More
Copper's three-month price on the London Metal Exchange climbed above $6,600 per tonne at the close of trading on Wednesday April 17, buoyed by strong GDP figures out of China while a softer dollar index below the psychological level of 97 supported afternoon buying.Volumes traded in the red metal reached their highest level since March 22 over the day, with more than 24,000 lots changing hands by...Read More
Chinese nickel premiums strengthened on Tuesday April 16 due to optimism that the import window will open, while the European nickel briquette premium softened on bearish sentiment. Chinese premiums strengthen ahead of import window opening European briquette premium slides on bearish sentiment US premiums hold firm, retain previous gains Chinese premiums rise to meet import window open...Read More
The lead price could rebound above $2,000 per tonne and even touch $2,100 per tonne in the next six months because it is oversold and supply and demand conditions remain tight this year, Macquarie bank said on Tuesday April 16. "The recent decline in the lead price is overdone and was on the back of a large re-warranting in Asia rather than a change in fundamentals," Macquarie metals strategist Vi...Read More
Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. David Stein, who manages the Aerecura Capital fund and invests directly in mines, said base metal prices including zinc and lead could fall in a wider rout of the markets. Du...Read More
Ferro-silicon prices in the Chinese domestic market held steady last week despite elevated April tender prices from steel mills, while export offers in the country sank due to an influx of imported material into Asian markets. Meanwhile, US ferro-silicon prices softened slightly amid low levels of spot activity. Chinese domestic ferro-silicon prices stable despite higher April mill tender prices C...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Fastmarkets' battery raw materials team summarizes eight key takeaways from last week's Battery Materials Conference in Shanghai. Cobalt's upside is limited without China on board: While market participants at last week's MMTA conference in Edinburgh were enjoying cobalt having found its floor and the resultant round of restocking, delegates in Shanghai were more concerned about whether Chine...Read More
Turkish steel producers continued their deep-sea scrap purchases for May deliveries, and the prices of the latest cargoes confirmed the upward market direction, sources said on Wednesday April 17.A steel producer in Northern Turkey booked a European cargo, comprising 35,000 tonnes of HMS 1&2 (75:25) and 5,000 tonnes of bonus at an average price of $307 per tonne cfr.The prices of each grade were c...Read More
The price range for rebar produced and delivered in Northern Europe has remained unchanged week-on-week ahead of the Easter holidays, sources told Fastmarkets on Wednesday April 17.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?535-550 ($604-621) per tonne delivered on Wednesday, unchanged from April 10. "We expect the price to remain stable over the we...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 17 that are worth another look.Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. Copper's three-month price on the London Metal Exchange...Read More
Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. David Stein, who manages the Aerecura Capital fund and invests directly in mines, said base metal prices including zinc and lead could fall in a wider rout of the markets. Du...Read More
Fastmarkets' battery raw materials team summarizes eight key takeaways from last week's Battery Materials Conference in Shanghai. Cobalt's upside is limited without China on board: While market participants at last week's MMTA conference in Edinburgh were enjoying cobalt having found its floor and the resultant round of restocking, delegates in Shanghai were more concerned about whether Chine...Read More
The outlook for domestic prices for hot-rolled coil (HRC) in Europe remained negative, although they have been largely stable in the week ended Wednesday April 17, sources have told Fastmarkets.Domestic HRC prices in Europe have been under pressure from limited trading activity and they were expected to gradually decline, according to market participants."The market is showing a trend in a negativ...Read More
Domestic prices for heavy steel plate in Southern Europe have decreased over the week ended Tuesday April 17, due to slow demand and a fall in slab costs, sources have told Fastmarkets.Fastmarkets' weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe dropped to ?,?540-565 ($610-638) per tonne ex-works on April 17, from ?,?555-570 per tonne ex-works a week earlier....Read More
China's domestic prices for hot-rolled coil softened on Wednesday April 17, which led to sentiment worsening among exporters of the flat steel product.DomesticEastern China (Shanghai): 3,990-4,000 yuan ($595-596) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, down 20-30 yuan per tonnePrices dipped nationwide, with sources describing trading...Read More
Wire rod prices in the United States have deteriorated for a third consecutive month due to a range of factors, with prices for imported material also down on fresh cfr offers originating from Europe, Africa and Asia, market sources said.Fastmarkets AMM's assessment for industrial quality low-carbon wire rod was at $37-38 per hundredweight ($740-760 per short ton) fob mill on Tuesday April 16, dow...Read More