Here are five Fastmarkets MB stories you might have missed on Tuesday February 26 that are worth another look.Lithium producer share price weakness is a reflection of the supply response that started in 2018, head of base metals and battery materials research William Adams said. While the supply side is weighing on sentiment, the demand side of the equation remains extremely bullish - and inc...Read More
Lithium producer share price weakness is a reflection of the supply response that started in 2018, head of base metals and battery materials research William Adams said.Lithium producers' share prices have generally been under pressure since late 2017. In the chart below, producers' share prices are up 15% on average from their 52-week low price. We see this as a reflection of the supply response...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Tuesday February 26, with positive trade rhetoric in US-China trade talks lending support to commodity investment, while US Federal Reserve chair Jerome Powell signaled slower but strong US economic growth. Copper's three-month price continues to hold ground near the $6,500-per-tonne level against a backd...Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday February 26, with copper, nickel and zinc futures holding gains amid a decline in Asian equities while ongoing US-China trade talks continue to indicate a potential trade resolution. Three-month copper futures continue to trade around $6,500 per tonne amid the continued removal of material, with on-warrant...Read More
Prices in the seaborne coking coal spot market remained supported on Tuesday February 26 with sellers not in a hurry to issue firm offers just yet."The port market has been doing well with prices moving strength to strength. This will rub off on the seaborne market too," a Chinese trading source said.At the Port of Jingtang in Tangshan, Hebei province, some 30,000 tonnes of a lower-ranked premium...Read More
Turkish steel producers continued holding back from the deep-sea scrap markets on Tuesday February 26 because of the weak demand for their finished steel products in the country's domestic and export markets.The steel producers in the country went quiet at the end of last week after booking a Baltic Sea cargo, which sent prices down by $20 per tonne week on week."Turkish producers are not in very...Read More
Lithium producer share price weakness is a reflection of the supply response that started in 2018, head of base metals and battery materials research William Adams said.Lithium producers' share prices have generally been under pressure since late 2017. In the chart below, producers' share prices are up 15% on average from their 52-week low price. We see this as a reflection of the supply response...Read More
The process to resume full production at Hydro's Alunorte alumina refinery in Brazil has hit a further setback, after an accident with an iron ore tailings dam at a mine from Vale prompted a round of inspections throughout the country, sources told Fastmarkets. Market participants do not expect the Brazilian refinery to resume normal operations anytime soon. Traders and producers initially expecte...Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday February 26, with copper, nickel and zinc futures holding gains amid a decline in Asian equities while ongoing US-China trade talks continue to indicate a potential trade resolution. Three-month copper futures continue to trade around $6,500 per tonne amid the continued removal of material, with on-warrant...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday February 26* Copper -$186.61 (-1,253.04 yuan) Aluminium -$332.74 (-2,234.26 yuan) Zinc -$120.26 (-807.52 yuan) Nickel -$313.42 (-2,104.55 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More
After recent strong performances by the base metals traded on the London Metal Exchange, most prices started to consolidate at the beginning of the week and are down an average of 0.3% this morning, Tuesday February 26.Copper and tin prices have been the strongest on the upside in recent weeks, with warrant cancellations in copper tightening up liquidity on the LME copper contract, while further s...Read More
Base metals traded on the Shanghai Futures Exchange were all down during morning trading on Tuesday February 26, with nickel leading the complex lower.The weakness in the base metals follows strong gains on Monday after the market reacted positively to the news that US President Donald Trump had postponed a planned increase in tariffs on Chinese goods due to progress made in US-China trade talks.B...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 26 that are worth another look.Lithium producer share price weakness is a reflection of the supply response that started in 2018, head of base metals and battery materials research William Adams said. While the supply side is weighing on sentiment, the demand side of the equation remains extremely bullish - and inc...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, although buying activity remained limited, Fastmarkets heard on Tuesday February 26.Deals were scarce because market participants were waiting to see whether the price increases would be permanent, sources told Fastmarkets.The buyers were doubtful because raw material prices have started to dro...Read More
Prices for steel rebar and billet imported into the United Arab Emirates have increased slightly this week because of higher offers and deal prices, sources told Fastmarkets on Tuesday February 26.The reason for the rise in the billet import price was that producers in Oman and Bahrain raised their prices for the commodity.But demand for rebar was moderate in the country, and with local supply bei...Read More
China's hot-rolled coil prices strengthened further on Tuesday February 26 despite moderate trading activity, with gains in the futures market in the afternoon providing a boost to the spot market.DomesticEastern China (Shanghai): 3,800-3,830 yuan ($567-572) per tonne, up 10-20 yuan per tonneNorthern China (Tianjin): 3,740-3,770 yuan per tonne, widening upward by 20 yuan per tonneSellers in Shangh...Read More
China's domestic rebar prices retreated on Tuesday February 26 after supply pressures led sellers to destock.Domestic Eastern China (Shanghai): 3,740-3,780 yuan ($558-564) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,730-3,770 yuan per tonne, widened downward by 10 yuan per tonneSelling interest among stockists picked up due to an increase in inventory levels, which led to them...Read More
Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased again over the past week, with some mills continuing to raise their offers amid bullish sentiment and a stronger domestic market.Cold-rolled coilFastmarkets MB's weekly export price assessment for Chinese SPCC 1.0mm CRC was $545-555 per tonne fob on Tuesday February 26, up $5 per tonne from $540-550 per...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 steel billet, slab and bloom. Latest transaction: billetBillet China,...Read More