China's rebar prices rebounded on Monday April 15 after market participants' outlook for demand in the next few months improved following the release of the latest data from the property sector. Domestic Eastern China (Shanghai): 4,060-4,110 yuan ($606-613) per tonne, up 40 yuan per tonneNorthern China (Beijing): 4,000-4,030 yuan per tonne, up 30-40 yuan per tonneThe housing market in first-tier C...Read More
Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
There were six key points for delegates of the minor metals community to take away from a busy week of meetings in Edinburgh, Scotland, for the Minor Metals Trade Association (MMTA) Conference on April 9-11.1. Sentiment in minor metals remains gloomy...While global uncertainty and oversupply continued to weigh on minor metals price sentiment in 2019, with prices for some materials at multi-year lo...Read More
Turkish steel mills had a quiet start to the week in the deep-sea scrap markets, but market participants are expecting more bookings for May deliveries, sources said on Monday April 15.There were no new deep-sea transactions done on Monday, but mills continued to negotiate on May cargoes for lower prices, Fastmarkets heard. Some traders reported that mills were bidding for US-origin HMS 1&2 (80:20...Read More
Turkish domestic auto bundle scrap prices have increased over the past week, while domestic ship scrap prices moved downwards on a weak lira, sources said on Monday April 15.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,730-1,870 ($300-325) per tonne delivered on Monday, compared with TRY1,695-1,870 per tonne last week. The slight change in the...Read More
Domestic prices for ferrous scrap in Italy have decreased over the past month, sources told Fastmarkets on Monday April 15.The monthly price assessment for Italian grade-E3 scrap was ?,?260-275 ($294-311) per tonne delivered on April 15, compared with ?,?270-285 per tonne delivered in the previous month.The reasons behind the decrease were slower scrap buying activity by Italian mills, lack of dem...Read More
Seaborne iron ore prices went through corrections on Monday April 15, while prices for high-grade products remained robust, Fastmarkets has heard.MB 62% Fe Iron Ore Index: $95.42 per tonne cfr Qingdao, down by $1.05 per tonne.MB 62% Fe Pilbara Blend Fines Index: $94.20 per tonne cfr Qingdao, down by $1.54 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $98.57 per tonne cfr Qingdao, up by $0.25 per...Read More
The cfr China low-vol pulverized coal injection (PCI) segment of the seaborne coking coal market picked up some strength on Monday April 15 after an end user with an urgent need of materials paid a slightly higher-than-expected price for a cargo.A shipment of second-tier PCI that is on its way to China was heard to have been sold to the mill in southern China at $132.50 per tonne cfr China.Market...Read More
The transaction prices and volumes of seaborne iron ore pellets and concentrate picked up in the week to Friday April 12 due to recovering demand for high-grade materials from Chinese steelmakers.PelletsFastmarkets' weekly MB 65% Fe Blast Furnace Pellet index was at $127.50 per tonne cfr China on Friday, up by $1.37 per tonne from a week earlier.While an unspecified brand of 64% Fe Indian pellet w...Read More
German steelmakers have settled monthly scrap contracts for April at largely stable prices, sources told Fastmarkets.Fastmarkets' monthly price assessment for domestic grade E3 scrap in Germany was ?,?265-285 ($299-322) per tonne delivered on April 12, unchanged over the month. The assessment represents deals heard in the market. The negative impact from the decrease in international scr...Read More
Base metals prices on the London Metal Exchange consolidated during morning trading on Monday April 15, with prices broadly rangebound amid low volumes while a price difference of nearly $1,000 per tonne continues to separate zinc and lead futures. Three-month copper continues to trade just below $6,500 per tonne after climbing by just under 2% last week. The red metal's on-warrant stock levels re...Read More
Sales and exports of cobalt hydroxide produced at Glencore's Katanga Mining in the Democratic Republic of Congo have restarted at a limited rate. About 930 tonnes of contained cobalt that has been processed to comply with regulations on uranium levels have been produced since January 2019 - about 22.5% of the mines production since the beginning of the year, Katanga Mining said on Monday April 15....Read More
One concern at this year's Minor Metals Trade Association (MMTA) conference overshadowed all other bearish factors affecting minor metals prices this year: the potential release of metal stocks held by the failed Fanya Metal Exchange. While global uncertainty and oversupply continue to weigh on minor metals price sentiment in 2019, as expected, most delegates on the sidelines of the conference in...Read More
Secondary aluminium ingot prices in Europe fell to their lowest level since November 23, 2018 on April 12 and European scrap prices, having previously held relatively firm, finally fell in line.Fastmarkets assessed the premium for European aluminium pressure, die-casting ingot DIN226/A380, at ?,?1,430-1,470 per tonne on a delivered consumer-works basis on Friday April 12, down ?,?10 per tonne at t...Read More
Holding pattern for now Base metals seem to be in something of a holding pattern, waiting for more details from US-China trade talks before making their next directional move. Given the likelihood of a positive conclusion, stronger demand-related signals from China, and tight underlying supply-demand balances, we maintain that the mostly likely next move will be to the upside. Aluminium: Becoming...Read More
Aluminium prices slipped back below $1,850 per tonne last week Aluminium prices continued their downtrend and slipped below the $1,850 per tonne mark last week. This comes as weaker investor sentiment across Europe continues to trickle through to commodity purchasing, with US President Donald Trump threatening to apply $11 billion worth of tariffs on goods from the EU. Grounded in an ongoing aircr...Read More
Aluminium LME aluminium produced what appears to be a bullish daily hammer candlestick on Friday April 12. This technical development could mark a potential short-term reversal. Given how oversold the daily RSI and stochastic lines are, there is decent upside potential on both indicators to support a move higher. Still, we will need to see more buying emerge first and LME aluminium needs to t...Read More
The copper industry gathered in Santiago last week for the annual CESCO week. Overall, sentiment was fairly bullish and that seems to be flowing into prices this week, with copper having another go at resistance in the $6,500s. Below we highlight some of the key takeaways from CESCO and give our opinion on some of the main talking points. Mine disruptions are back After a relative dearth of mine s...Read More
Rising stocks highlight adequate availability A pick-up in both LME and SHFE lead stocks in recent months is a headwind for lead prices at this seasonally weak time when the threat of severe cold weather in the northern hemisphere has passed. That said, exchange lead stocks are still relatively low, at around 109,500 tonnes on Friday, compared with 123,276 tonnes at the start of the year. While th...Read More
At Fastmarkets’ Battery Material Conference held in Shanghai last week, there was much focus among participants on how China’s EV policies will support nickel-rich lithium-ion battery demand in medium to long term. Below are some important highlights from this discussion: The halving of China’s new energy vehicle (NEV) subsidies in late March (to 18,000 yuan ($2,680) for EVs with a...Read More