Fastmarkets proposes to discontinue its aluminium premium assessments for Antwerp duty-paid and unpaid and Vlissingen duty-paid and unpaid.The proposal is based on market feedback that these premiums are no longer a reference price in the market, with the majority of the market now basing its business on an in-warehouse Rotterdam basis.The in-warehouse premiums are currently published on a weekly...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Thursday December 27, buoyed by broad strength in global stock indices and a softer US dollar index. Climbing the furthest, the three-month copper price appreciated 0.7% over the morning and continues to trade close to the $6,000-per-tonne support level. Volumes traded for the red metal continu...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday December 27*Copper -$97.83 (-675.7 yuan) Aluminium -$394.48 (-2,724.54 yuan) Zinc $37.18 (256.79 yuan) Nickel $60.93 (420.82 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday December 27.Base metals prices on the Shanghai Futures Exchange were mostly up during Asian morning trading on Thursday, with the complex buoyed by improved risk sentiment following a rally in US equities. Check Fastmarket MB's live futures report here.Chinese battery materials produc...Read More
The Turkish rebar and wire rod export markets remained weak over the past week due to the year-end holidays and limited demand, with no recovery expected in the coming weeks, sources said on Thursday December 27.Turkish steel mills continued to offer rebar for export at $450-460 per tonne fob on an actual weight basis, yet there were no takers for those offers.Fastmarkets' weekly price assessment...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 coilTaiwan, export, hot-rolled coil (1.2 mm),...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billet Billet CIS export, billet, offered at $440-445...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebar Oman, export, rebar, traded at $500-502 per tonne cfr on...Read More
Import and domestic prices for rebar and billet in the United Arab Emirates (UAE) decreased this week, with demand weak, sources told Fastmarkets MB on Thursday December 27.Domestic rebarLocal rebar producers had previously announced reduced prices for January production on December 20.The country's largest producer, Emirates Steel, was offering rebar at 1,899 dirhams ($517) per tonne ex-works, do...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 oreRio Tinto, Global Ore, 170,000 tonnes of 62% Fe Pilbara Blend fines, traded at the January average of a...Read More
Physical iron ore prices posted limited movement on Thursday December 27 with market participants continuing to take caution when trading in the last few days of the year.MB 62% Fe Iron Ore Index: $71.48 per tonne cfr Qingdao, up $0.09 per tonne. MB 62% Fe Pilbara Blend Fines Index: $71.31 per tonne cfr Qingdao, up $0.09 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $73.56 per tonne cfr Qingdao...Read More
The seaborne coking coal spot market remained quiet on Thursday December 27 despite lower offers during the day.A premium low-vol hard coking coal cargo was offered at $196 per tonne cfr China during the day, down $2 per tonne from just a day earlier, a southern Chinese mill source told Fastmarkets. Counterbids were heard around $190-195 per tonne cfr China, according to various sources.Outsi...Read More
Import prices for steel billet in Southeast Asia remained flat on Thursday December 27 due to sparse offers, bids and transactions amid the year-end holiday season.Fastmarkets' daily import price assessment for billet in Southeast Asia was $460-462 per tonne cfr Manila on December 27, unchanged for the sixth consecutive day.One cargo from the Russian Far East was sold to the Philippines at $462 pe...Read More
China's ferrous futures retreated during morning trading on Thursday December 27, that despite opening about 1-2% above Wednesday's settlement levels.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,410 yuan ($495) per tonne, down 54 yuan per tonne May hot rolled coil: 3,322 yuan per tonne, down 77 yuan per tonneDalian Commodity Exchange May iron ore: 488 yuan per to...Read More
Some participants have started to bet China's export hot-rolled coil prices will drop following declines in the domestic market amid sparse trading on Thursday December 27.DomesticEastern China (Shanghai): 3,700-3,730 yuan ($537-541) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,640-3,660 yuan per tonne, widening downward 10 yuan per tonneAlthough prices in Shanghai&n...Read More
China's domestic rebar prices increased slightly on Thursday December 27 on early futures gains, while export prices decreased slightly. Domestic Eastern China (Shanghai): 3,760-3,800 yuan ($545-551) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,630-3,670 yuan per tonne, up 20 yuan per tonneRebar futures opened up on Thursday morning amid the higher openings on the dome...Read More
The Chinese antimony market showed signs of softening in the week ended Wednesday December 26 after some domestic suppliers began to cut their offer prices in an attempt to entice buyers to do business and generate cash before the end of the year.Fastmarkets' price quotation for MMTA standard grade-II antimony, delivered duty-paid in China, stood at 49,000-49,500 yuan ($7,108-7,180) per tonne on D...Read More
Import prices for stainless steel in East Asia moved up over the past week in the absence of low offers from certain mills, although trading activity remained muted amid soft demand due to the year-end holiday season.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,900-1,960 per tonne cif for the week ended Wednesday December 26, up $30-40...Read More
China's domestic stainless steel prices widened lower over the past week due to inactive trading ahead of the year-end.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-14,800 yuan ($2,060-2,147) per tonne including VAT for the week ended Wednesday December 26, against 14,300-14,800 yuan per tonne from a week...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. TransOcean (RIG $6.71) is expected to open higher after receiving a five year drilling contract from Chevron valued at $830 million.Abercrombie & Fitch (ANF $19.28) is expected to open higher after Wedbush raised its target price to $19 from $17.Aphria (APHA $7.57 Cdn) is expected to...Read More