The aluminium billet premium in Germany fell by 6% on Friday March 8 to its lowest in nearly a year on bearish European macroeconomic concerns and weaker market fundamentals. Fastmarkets assessed the premium for prime-quality billet delivered duty-paid on a spot basis into the Ruhr region with 30-day payment terms at $430-460 per tonne on Friday, down from $465-485 per tonne. The German bille...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Monday March 11 despite poor economic data today and from Friday.Zinc was recently up 1.6%, recovering after last week's lackluster performance. It has $2,800 per tonne in its sights, having previously been capped below that level by producer selling."On Friday, zinc was only metal today to see above-avera...Read More
Bahraini rebar producer Unirol last week increased its rebar production capacity to 275,000 tonnes per year from 175,000 tpy with the launch of a new unit, a company executive told Fastmarkets on Monday March 11.The company uses direct-reduction iron (DRI) pellet as raw material, sourced locally, and is now offering material that is officially labeled 'Made in Bahrain', chairman and chief executiv...Read More
The CIS export billet market was rather quiet in the week ended Monday March 11. Producers preferred to stay back from the market and assess the situation, indicating offers within the range of $460-465 per tonne fob Black Sea.Meanwhile, customers showed little interest in imported billet because they considered the offer prices to be too high, and could not relay those costs to buyers of finished...Read More
Strong demand for vanadium as a result of China's revised rebar standard is likely to boost vanadium price momentum again this year, industry speakers said at Fastmarkets' Asian Ferro-Alloys conference in Hong Kong taking place on March 10-11. Global vanadium production is estimated to reach 103,564 tonnes in 2019, up 14% from 90,500 tonnes in 2018, Mark Smith, chief executive officer of Largo Res...Read More
The International Rebar Producers & Exporters Association (Irepas) has delivered a broadly positive short-range outlook for the long steel markets in March, even though prices continue to struggle on lackluster demand, largely because of concerns about protectionist trade measures."The global long steel products market is currently in a positive mood amid good demand worldwide," Irepas said in its...Read More
China's hot-rolled coil prices weakened on Monday March 11, leaving traders with the expectation that mills would lower their export offers this week following last week's sparse trading activity.DomesticEastern China (Shanghai): 3,790-3,810 yuan ($564-567) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,740-3,760 yuan per tonne, down 20-30 yuan per tonneSpot prices for HRC dropped...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: Hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. ...Read More
Iron ore export volumes from Brazil increased by 21.62% year-on-year in February 2019, according to figures from the country's foreign trade ministry, MDIC.The country exported 28.93 million tonnes of iron ore last month, compared with 23.79 million tonnes in February 2018.Iron ore export revenues increased by 21.60%, to $1.53 billion, from...Read More
The Turkish steel mills have continued to book deep-sea scrap this week, with prices remaining little changed, sources said on Monday March 11.A steel mill in the Izmir region booked a UK cargo on Monday, comprising 25,000 tonnes of HMS 1&2 (80:20) at $320 per tonne cfr.As a result of...Read More
Scrap prices in Turkey's domestic market have shown mixed dynamics over the past week, sources told Fastmarkets on Monday March 11.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,700-1,820 ($312-334) per tonne delivered on Monday, narrowing upward from the TRY1,650-1,820 per tonne of last week.The slight change in the assessment came after a numbe...Read More
Iron ore prices continued to fall on Monday March 11, with buyers cautious amid retreats in the futures and swaps markets.MB 62% Fe Iron Ore Index: $83.79 per tonne cfr Qingdao, down $1.98 per tonne. MB 62% Fe Pilbara Blend Fines Index: $83.19 per tonne cfr Qingdao, down $1.98 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $85.66 per tonne cfr Qingdao, down $2.59 per tonne. MB 58% Fe Premium Ind...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 oreBHP, Global Ore, 80,000 tonnes of 62% Fe Mining Area C fines, traded at the April average of two 62% Fe indices at a discount of...Read More
Seaborne coking coal prices were flat on Monday March 11 in the absence of trades, but market participants have raised concerns over possible logistical disruptions in Queensland, Australia.Developments at the Dalrymple Bay Coal Terminal (DBCT) and near it could affect coal supply from the port, sources said.A train derailed close to the DBCT on Sunday while at the port, issues relating to its unl...Read More
Seaborne iron ore pellet and concentrate prices were mixed last week amid persistently lackluster demand.PelletsThe Fastmarkets MB 65% Fe Blast Furnace Pellet index was at $127.52 per tonne cfr China last Friday March 8, down by $3.12 per tonne from a week earlier.A tender for 64% Fe Indian KIOCL pellets was concluded around $115-117 per tonne fob. Traders said workable prices for this product on...Read More
Fastmarkets will host a free web seminar on Monday April 8 at 9.30am London time to introduce the new Fastmarkets-settled London Metal Exchange cash-settled cobalt contract. Learn how Fastmarkets assesses the cobalt market and how you can manage your risk with the new LME cash-settled contract. Click here to register for the webinar. Date Monday April 8, 2019 Time 9.30am London time Join us and th...Read More
The London Metal Exchange launched a new cash-settled cobalt contract, settled against Fastmarkets' benchmark standard-grade cobalt price, on Monday March 11.Physical cobalt prices have seen dramatic swings in recent years, coinciding with mounting interest in the minor metal, arising from the boom in the use of battery and electric vehicles, and leading to stronger calls for a new way to hedge co...Read More
A three-percentage-point cut to the rate of value-added tax (VAT) paid by Chinese manufacturers of metals and minerals will have little effect on export markets, traders have told Fastmarkets.Market sources claim that the low levels of VAT exporters pay now will make the reduction more theoretical than actual.Chinese prime minister Li Keqiang announced the tax cut on March 5. The top rate of VAT,...Read More
The price of antimony in China continued to fall for a second week in the latest assessment period, which ended on Wednesday March 6, after some domestic suppliers cut their prices further to clear inventories.Many consumers were not keen on buying to restock, however, because they expected yet another fall in the price.Fastmarkets assessed the price for MMTA standard-grade II antimony, delivered...Read More