A safeguarding investigation into imports of semi-finished iron products, non-alloy steel and steel rebar by Egypt's Ministry of Trade & Industry could lead to a fall in billet, rebar and scrap prices.Initiated on Tuesday April 2, the investigation is of particular concern to CIS producers as they are they main suppliers of billet Egyptian re-rollers, sources told Fastmark...Read More
Transaction prices for grade-304 stainless steel cold-rolled (CR) sheet in Europe remained static in the week ended Friday April 12 despite some mills continuing to offer material at inflated levels.Offer prices for grade-304 CR sheets were heard as high as ?,?2,350 ($2,648) per tonne delivered during the week, the same level as in the previous week.Despite these offers, Fastmarkets' price assessm...Read More
UK and European steel market participants renewed calls for the European Union and the United Kingdom to reach an agreement and avoid continued market uncertainty after the UK was granted a six-month extension to delay Brexit until Thursday October 31. The latest extension has also averted the prospect of the UK having to leave the EU without a deal on Friday April 12. A "no deal" Brexit would mea...Read More
UK and European steel market participants renewed calls for the European Union and the United Kingdom to reach an agreement and avoid continued market uncertainty after the UK was granted a six-month extension to delay Brexit until Thursday October 31. The latest extension has also averted the prospect of the UK having to leave the EU without a deal on Friday April 12. A "no deal" Brexit would mea...Read More
A safeguarding investigation into imports of semi-finished iron products, non-alloy steel and steel rebar by Egypt's Ministry of Trade & Industry could lead to a fall in billet, rebar and scrap prices.Initiated on Tuesday April 2, the investigation is of particular concern to CIS producers as they are they main suppliers of billet Egyptian re-rollers, sources told Fastmark...Read More
Aluminium foundry premiums in Western Europe and the United States continued to slide on Friday April 12 following sustained concerns about the automotive industry. The premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms was assessed Friday at $340-360 per tonne. The premium is down more than 17.6% year on year....Read More
Aluminium billet premiums worldwide were mostly static on Friday April 12, although the premium in Brazil bucked the trend in moving to its highest level since June 15 of last year. ?EUR? Spanish premium drops below $400 per tonne ?EUR? Brazilian market pushes higher on more offers?EUR? US spot market remains quiet?EUR? Asia quiet ahead of holidaysEurope mostly quiet; Spain continues to fallThe pr...Read More
Fastmarkets published its India domestic, export and import prices later than scheduled on Friday April 12, because of a technical issue.The following prices were published in Fastmarkets' price book later than scheduled.India domestic cold-rolled coil, rupees per tonne, ex-worksIndia domestic direct-reduced iron, rupees per tonne, exwIndia domestic heavy plate, rupees per tonne, exwIndia domestic...Read More
Billet producers in the Commonwealth of Independent States (CIS) have started to seek sales opportunities in Asia, considering the weak sentiment in their traditional markets in the Middle East-North Africa (Mena) region.A large cargo of Ukraine-origin billet was sold to South Asia at $440-445 per tonne fob Black Sea, Fastmarkets has learnt, which would be equivalent to $470-475 per tonne cfr.And...Read More
Chinese trading house ASK Resources has moved into the European market, hiring Guillaume Taib to open an office in Geneva, Switzerland.ASK had a turnover of $900 million in 2018, trading mainly in copper but also in zinc, aluminium and nickel,...Read More
Sentiment was unusually bearish at this year's Cesco week in Santiago, Chile, with copper market participants increasingly concerned that sluggish demand in China will limit the upside potential of the red metal price. The annual gathering in the Chilean capital on April 7-12 is traditionally characterized by strong attendance by miners from copper-rich South America and thus typically boasts a po...Read More
UK and European steel market participants renewed calls for the European Union and the United Kingdom to reach an agreement and avoid continued market uncertainty after the UK was granted a six-month extension to delay Brexit until Thursday October 31. The latest extension has also averted the prospect of the UK having to leave the EU without a deal on Friday April 12. A "no deal" Brexit would mea...Read More
The three-month zinc price on the London Metal Exchange moved above $2,900 per tonne at the close of trading on Friday April 12, while volumes traded reached their highest level since March 15 at 12,000 lots exchanged.Price action in zinc has been volatile so far in April, reaching a monthly high of $2,938 per tonne on April 8 before dipping to a low of $2,852 per tonne on April 9. LME stocks rema...Read More
The Comex copper price surged in the US morning session on Friday April 12 amid a falling dollar and upbeat sentiment from Cesco Copper Week in Santiago, Chile. The copper price for May settlement on the Comex division of the New York Mercantile Exchange jumped 5.70 cents to $2.9440 per lb. The contract has been unable to set a solid price direction this week with prices rising and falling day by...Read More
Seaborne iron ore prices continued to rise on Friday April 12, with high-grade materials such as Iron Ore Carajas (IOCJ) continuing to outperform other grades.MB 62% Fe Iron Ore Index: $96.47 per tonne cfr Qingdao, up by $0.82 per tonne.MB 62% Fe Pilbara Blend Fines Index: $95.74 per tonne cfr Qingdao, up by $0.97 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $98.32 per tonne cfr Qingdao, up by...Read More
South American import prices for flat steel were almost unchanged this week because of the low levels of demand, but rumors of price increases for specific materials were heard among buyers and traders.Current prices from China were already considered high by clients, which were reported to be holding large inventories.Fastmarkets' weekly price assessment for South American imported cold-rolled co...Read More
Transaction prices for grade-304 stainless steel cold-rolled (CR) sheet in Europe remained static in the week ended Friday April 12 despite some mills continuing to offer material at inflated levels.Offer prices for grade-304 CR sheets were heard as high as ?,?2,350 ($2,648) per tonne delivered during the week, the same level as in the previous week.Despite these offers, Fastmarkets' price assessm...Read More
Chinese trading house ASK Resources has moved into the European market, hiring Guillaume Taib to open an office in Geneva, Switzerland.ASK had a turnover of $900 million in 2018, trading mainly in copper but also in zinc, aluminium and nickel,...Read More
The three-month zinc price on the London Metal Exchange moved above $2,900 per tonne at the close of trading on Friday April 12, while volumes traded reached their highest level since March 15 at 12,000 lots exchanged.Price action in zinc has been volatile so far in April, reaching a monthly high of $2,938 per tonne on April 8 before dipping to a low of $2,852 per tonne on April 9. LME stocks rema...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More