Import prices for stainless steel in East Asia edged down again over the past week, with the downtrend in nickel contributing to a reduction in trading activity. Buyers remained in wait-and-see mode because of the nickel situation, while some sellers were willing to accept lower prices to secure more orders, sources said.Fastmarkets' weekly import price assessment for benchmark 304 stainless...Read More
Domestic prices for hollow steel sections in Southern Europe edged up on Wednesday March 20, but are expected to match the stability seen in Northern Europe in the next few weeks, market sources told Fastmarkets.Fastmarkets' weekly domestic price assessment for commodity-size, grade-S235 square hollow sections made in Southern Europe widened upward by ?,?5 per tonne this week, to ?,?630-650 per to...Read More
Brazil's Vale has obtained a court order allowing it to restart port activities at its Gua?-ba Island Terminal, it said late on Monday March 18.The iron ore miner had suspended port activities at the terminal earlier this month on orders of the Mangaratiba city government."Following the court decision, Mangaratiba City Hall authorities lifted the interdiction. Vale reaffirms that it has all valid...Read More
A preliminary decision from a court in Brazil's Itabira city, in the country's southeastern Minas Gerais state, has ordered Vale to suspend activities at two of its tailings dams, following a request from the Minas Gerais state prosecutors' office, MPMG.Vale immediately complied with the decision, which affects the dams of Minervino and Cord??o Nova Vista, part of the Cau?? mine, the company said...Read More
Revenue garnered from the United States' Section 232 tariffs - in place for almost a year - stood at $4.3 billion for steel and $1.4 billion for aluminium as of Thursday February 21, 2019, according to data from US Customs and Border Protection.While the blanket 25% steel tariffs imposed by US President Donald Trump's administration has helped US steel mills to reap record profits, restart id...Read More
Zinc's three-month price on the London Metal Exchange was higher at the close of trading on Wednesday March 20, bolstered by an 11-year low in LME stocks, with the price continuing to approach $2,900 per tonne - a level not seen since July 2018.Total on-warrant material was at its lowest level since 2008 at just 44,300 tonnes, while LME data showed five dominant warrant-holding positions. Three of...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday March 20 pricing session in Europe.Key driversThe European ferro-titanium market has hit a five-month high in the past week, with the rally showing no signs of abating while suppliers struggle to keep up with demand. There is renewed consumer demand for prompt shipment and buying inquiries for second-quarter deliveries. The run-up in prices is set to persist, with $6 pe...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday March 20 that are worth another look.The Democratic Republic of the Congo, the world's top producer of cobalt and a key copper producer, has re-enacted an export ban on copper and cobalt concentrates, official documents obtained by Fastmarkets show.China's strict restrictions on scrap metal imports from the United States...Read More
Zinc's three-month price on the London Metal Exchange was higher at the close of trading on Wednesday March 20, bolstered by an 11-year low in LME stocks, with the price continuing to approach $2,900 per tonne - a level not seen since July 2018.Total on-warrant material was at its lowest level since 2008 at just 44,300 tonnes, while LME data showed five dominant warrant-holding positions. Three of...Read More
The United States' copper market was at a standstill during trading on Wednesday March 20 morning, with a stronger dollar adding pressure to the complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down 0.15 cents to $2.9215 per lb.The dollar index was trading at 96.46, up 0.07%. Over the past few sessions, the market has entered a consolida...Read More
Trading in the seaborne coking coal spot market remained largely muted on Wednesday March 20 despite the emergence of slightly lower offers.A top Australian brand with a laycan of April 20-29 was sold to an end user in northern China at $212 per tonne cfr China, sources told Fastmarkets. The transaction was heard after the cut-off time for Fastmarkets' indices, and as such was not included in the...Read More
The European price of mesh-quality wire rod stayed flat on Wednesday March 20, with trading remaining subdued although the fundamental picture has improved.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod for both Northern and Southern Europe stayed at ?,?535-550 ($607-624) per tonne delivered on Wednesday, after narrowing upward last week from $530-550 per tonne.Consumers.....Read More
Appetite for US material improved on increased demand from the US steel sector in the week to Tuesday March 19, while Chinese and European premiums traded flat in light of a closed import window and a dearth of demand from the European stainless steel sector respectively. US spot premiums for cut and briquette material narrowed upward. China's closed import window continues to preclude any p...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday March 20 that are worth another look.The Democratic Republic of the Congo, the world's top producer of cobalt and a key copper producer, has re-enacted an export ban on copper and cobalt concentrates, official documents obtained by Fastmarkets show.China's strict restrictions on scrap metal imports from the United States...Read More
Estimated global production of primary aluminium in February 2019 decreased by 9% month-on-month, according to figures published on the International Aluminium Institute (IAI) website on Wednesday March 20.An estimated 49 million tonnes of primary aluminium were produced in February this year, compared with the estimated 54 million tonnes produced in January.Output figures were depressed for almos...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 20.The new LME warrant premiums table...Read More
Zinc premiums crept up in Northern Europe on Tuesday March 19 after buyers were enticed by a price retreat earlier this week; lead markets were largely stable except in India where there were further drops due to a temporary surge in Iranian supply. Northern European zinc buyers are active in the spot market this week, causing premiums to narrow up. China's zinc premium softened amid a close...Read More
Tin premiums were flat across the board on Tuesday March 19, with US tin premiums continuing to face downward pressure from new market entrants, while European market participants await tangible inflows against a backdrop of Indonesian political elections and Chinese premiums keep firm amid a closed import window. US market receives discounted premiums amid slow demand Spot inactivity, supp...Read More