Erus Metals USA LLC has withdrawn from London Metal Exchange warehouse services, the exchange said on Tuesday January 1.Erus Metals USA is a subsidiary of Erus Metals Limited, the USA branch only had one warehouse left, in Panama City, Florida, which will now be delisted from the LME. According to exchange data in November, it held no LME stock.In...Read More
The price for rebar produced and delivered in Southern Europe stayed flat on Wednesday January 2, with no new deals reported over the first two days of 2019. Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe remained at ?,?520-540 ($596-619) per tonne delivered on Wednesday, with very little activity over the New Year break and ahead of the February renewal of the...Read More
Hollow steel sections prices in Europe were unchanged in the first week of 2019, with many market participants still on holiday and a resulting lack of trading on Wednesday January 2.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at ?,?635-650 ($728-745) per tonne delivered on Wednesday.Many traders in Europe would not...Read More
Domestic prices for steel beams in Europe were unchanged this week, with the majority of market participants not yet returning to work, sources said on Wednesday January 2.Fastmarkets MB's weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was flat at ?,?620-645 ($711-730) per tonne on January 2.The market was quiet this week with many market participa...Read More
Some flat steel import prices in Saudi Arabia and the United Arab Emirates have gone down over the past week on lower offers, sources said on Wednesday January 2.Demand was subdued because stock levels in the UAE were already high and the market wanted to see how the steel market would move early in 2019, sources told Fastmarkets.UAEChinese offers of hot-rolled coil (HRC) into the UAE were priced...Read More
Import and domestic prices for rebar and billet in the United Arab Emirates were stable this week, with demand remaining poor, sources told Fastmarkets on Wednesday January 2.Domestic rebarLocal rebar producers had announced on December 20 that there would be reduced prices for material to be shipped in January. These prices came into effect at the time of the announcement.The country's largest pr...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were unchanged over the past week amid illiquid spot trading and a lack of fresh offers from mills.Cold-rolled coilFastmarkets MB's weekly export price assessment for Chinese SPCC 1.0mm CRC was $525-535 per tonne fob China on Wednesday January 2, the same as a week earlier. No deals were reported during the past week. Market...Read More
CME Group's busheling futures contract showed signs of acceptance in 2018, with 20,175 lots (403,500 gross tons) traded during the year.The contract, launched in September 2012, recorded trades of 1,200 lots in December 2018. Each lot is 20 tons.CME Group's busheling contract is underpinned by Fastmarkets AMM's No1 busheling US...Read More
With no end in sight to freefalling bulk export prices for ferrous scrap shipments from the United States to Asia and Turkey, prices also have fallen further at US East Coast docks, which have been starved for a sale for more than a month.A South Korean producer booked a cargo containing 45,000 tonnes of No1 heavy melting scrap (HMS) from a US West Coast exporter at $313 per tonne cfr on Friday De...Read More
Brazilian iron ore export volumes increased by 1.63% in 2018 compared with the previous year because of higher prices, Fastmarkets has learnt.The country shipped a total of 389.81 million tonnes of iron ore last year, compared with 383.54 million tonnes in 2017, according to figures released by the...Read More
The Turkish scrap import market was quiet on Wednesday January 2 with most market participants still on holiday, while demand for finished steel products was sluggish.After news broke of a Baltic Sea cargo being sold at $283 per tonne cfr for HMS 1&2 (80:20) on December 29, the daily scrap indices went down by around $6 per tonne...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 oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at $74 per tonne cfr China, laycan January 21-30.Vale, tender,...Read More
Physical iron ore prices were largely rangebound on Wednesday January 2 amid mixed signals after the New Year long weekend in China.MB 62% Fe Iron Ore Index: $72.07 per tonne cfr Qingdao, down $0.66 per tonne. MB 62% Fe Pilbara Blend Fines Index: $71.90 per tonne cfr Qingdao, down $0.66 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74 per tonne cfr Qingdao, down $0.12 per tonne. MB 58% Fe Prem...Read More
Seaborne coking coal prices fell on Wednesday January 2 after market participants returned to news of the suspension of operations at the Saraji coking coal mine in Queensland, Australia.The mine, operated by the BHP Mitsubishi Alliance (BMA), produced 1.1 million tonnes of coking coal in the July-September period. BMA produced a total of 7.7 million tonnes of the steelmaking raw material during t...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday January 2* Copper -$63.46 (-435.93 yuan) Aluminium -$365.78 (-2,512.79 yuan) Zinc $57.9 (397.76 yuan) Nickel $29.41 (202.04 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Wednesday January 2, pressured by a slump in Asian markets amid poor economic data while a modest recovery in US stock market futures indices did little to improve negative sentiment. Worst affected over the morning was the three-month zinc price, which fell just over 3% to trade below $2,400 per tonne and...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Fastmarkets has corrected its titanium scrap unprocessed turnings (over 0.5% max 2.0% Sn) price, which was published incorrectly on January 2, 2019 due to a reporter error. The price was originally published incorrectly at $0.85-9 per lb cif major European ports and has been corrected to $0.85-0.9 per lb cif major European ports.Fastmarkets' price book and database have been updated to reflect thi...Read More
Fastmarkets has changed the names of its benchmark in-warehouse Rotterdam cobalt price assessments on January 2, 2019. The name 'standard-grade' has replaced the name 'low-grade'. The name 'alloy-grade' has replaced the name 'high-grade'. These changes follow a market consultation on Fastmarkets MB's international cobalt price specifications completed in April 2018. All historical data relating to...Read More
All Fastmarkets minor metals free market prices are unchanged on Wednesday January 2.Read More