China's rebar prices increased on Monday February 11 in both the domestic and export markets amid higher billet and futures prices. Domestic Eastern China (Shanghai): 3,830-3,880 yuan ($568-575) per tonne, up 120-130 yuan per tonneNorthern China (Beijing): 3,800-3,830 yuan per tonne, up 90-100 yuan per tonneBillet prices rose after futures opened higher, leading to bullish sentiment...Read More
The European spot market price of ferro-silicon stabilized in the week ended Friday February 8 after recent falls, with the range holding at lows last seen in February 2017; while in the United States, prices narrowed during a slow trading week. Europe stabilizes losses, with trading activity expected low key until March US prices narrow amid limited trading activity China set to retu...Read More
Major steel mills in China have concluded their ferro-silicon tenders for February, which have fallen again month on month on weak demand and oversupply, sources in China said. Both Hebei Steel, the country's largest mill, and Jiangsu Shagang last week released tender purchase prices for ferro-silicon delivered in February. Hebei Steel's latest tender price is 6,290 yuan ($932.32) per tonne for Fe...Read More
Here are five Fastmarkets MB stories you might have missed on Monday February 11 that are worth another look.The London Metal Exchange could face a significant financial challenge if the European Union wins a legal battle with the British government over tax breaks on commodity derivatives trading. Turkish President Recep Tayyip Erdogan has put his weight behind calls for a reduction of...Read More
Turkey's biggest steel producer, Erdemir Group, reported earnings before interest, taxes, depreciation and amortization (Ebitda) for 2018 of TRY8.302 billion ($1.579 billion*), up 52.24% from TRY5.453 billion for 2017. The group sold 7.482 million tonnes of flat steel products in January-December 2018, down by 1.47% from the 7.594 million tonnes sold in 2017, it said last week. The increase in ear...Read More
Manganese ore prices increased over the past week when producers raised their offer prices while market participants in China were celebrating the Lunar New Year holiday. Low-grade ore prices tick upward High-grade ore prices weaken slightly Manganese alloy prices hold in India, Europe US alloy prices soften despite uptick in SiMn activity.Manganese ore prices rose on Friday February 8 because of...Read More
Zinc's three-month price on the London Metal Exchange fell at the close of trading on Monday February 11, hampered by broad strength in the dollar index while low LME inventories failed to limit downward price action. The three-month zinc price has also fallen by 6% since reaching a July 2018 high of $2,800 per tonne last week. Since then, open interest in zinc has dwindled by more than 11% from a...Read More
Buyers in the export market for flat steel from the Commonwealth of Independent States (CIS) have accepted high offers from suppliers on further price growth expectations, sources told Fastmarkets on Monday February 11.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) spiked to $500-510 per tonne fob Black Sea on February 11, up from $460-480 per tonne a week ago...Read More
The Turkish deep-sea scrap import markets remained steady in the latest deals heard at the beginning of this week, sources said on Monday February 11.The most recent transaction was for a Canadian cargo, sold to a steel mill in the Iskenderun region, comprising 25,000 tonnes of shredded at $338 per tonne and 25,000 tonnes of HMS 1&2 (90:10) at $336 per tonne cfr.Using those prices as a guide, most...Read More
Here are five Fastmarkets MB stories you might have missed on Monday February 11 that are worth another look.The London Metal Exchange could face a significant financial challenge if the European Union wins a legal battle with the British government over tax breaks on commodity derivatives trading. Turkish President Recep Tayyip Erdogan has put his weight behind calls for a reduction of...Read More
Zinc's three-month price on the London Metal Exchange fell at the close of trading on Monday February 11, hampered by broad strength in the dollar index while low LME inventories failed to limit downward price action. The three-month zinc price has also fallen by 6% since reaching a July 2018 high of $2,800 per tonne last week. Since then, open interest in zinc has dwindled by more than 11% from a...Read More
Base metals prices on the London Metal Exchange were predominantly lower during morning trading on Monday February 11, with nickel the only metal to trade in positive territory, while continued strength in the dollar index fuels selling momentum. Chinese market participants have returned from their week-long Lunar New Year break. Yet despite a return of Chinese stimulus resulting in higher volumes...Read More
China's return to the market after a week-long break for Lunar New Year has not brought with it a rush to restock and that has led to some disappointed selling across the base metals traded on the London Metal Exchange, with the complex down by an average of 0.9% this morning, Monday February 11.The three-month zinc price led the decline with a 2% drop, while the three-month tin price was down by...Read More
The European spot market price of ferro-silicon stabilized in the week ended Friday February 8 after recent falls, with the range holding at lows last seen in February 2017; while in the United States, prices narrowed during a slow trading week. Europe stabilizes losses, with trading activity expected low key until March US prices narrow amid limited trading activity China set to retu...Read More
Turkey's biggest steel producer, Erdemir Group, reported earnings before interest, taxes, depreciation and amortization (Ebitda) for 2018 of TRY8.302 billion ($1.579 billion*), up 52.24% from TRY5.453 billion for 2017. The group sold 7.482 million tonnes of flat steel products in January-December 2018, down by 1.47% from the 7.594 million tonnes sold in 2017, it said last week. The increase in ear...Read More
Here are five Fastmarkets MB stories you might have missed on Monday February 11 that are worth another look.The London Metal Exchange could face a significant financial challenge if the European Union wins a legal battle with the British government over tax breaks on commodity derivatives trading. Turkish President Recep Tayyip Erdogan has put his weight behind calls for a reduction of...Read More
OJSC Electrozinc, the second-largest industrial metallurgy enterprise in Russia, has permanently ceased operations at its plant in North Ossetia, Fastmarkets has heard.The unit, which had been under close scrutiny from regional authorities, had already suspended operations following a fire on October 21 last year that killed one person and injured three more."The company has decided to terminate E...Read More
The London Metal Exchange could face a significant financial challenge if the EU wins a legal battle with the British government over tax breaks on commodity derivatives trading.The European Commission has referred the UK to the European Court of Justice (ECJ) over concessions offered by the EU to the UK in 1977, which allowed the UK to apply a zero-rate of VAT to transactions on specific commodit...Read More
A 118-day queue for aluminium has developed at warehouses in Port Klang operated by Istim, following a series of cancelations on the London Metal Exchange last month, according to LME data released on Monday February 11.Between January 22 and 25, almost 300,000 tonnes of aluminium was canceled at warehouses in Port Klang, causing the extended wait for deliveries.At the end of December, there was j...Read More
The price of copper in the United States began the week trading in negative territory, with a strong dollar and a lack of news about the US-China trade talks weighing on the base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange declined by 1.10 cents per lb to $2.79 per lb.Chinese market participants have returned from their week-long L...Read More