Brazilian slab export prices remained unchanged this week, with most bookings already pre-arranged due to the end-of-year holiday schedule at many companies.Fastmarkets' weekly price assessment for Brazilian slab exports was unchanged on Friday December 21, at $430-475 per tonne fob.Bookings for February shipment were virtually finished, with most deals closed to the United States near t...Read More
Brazil's apparent steel consumption increased by 6.90% year on year in November, to 1.70 million tonnes, mostly due to an improved performance in the flat steel sector, according to the national steel association A??o Brasil.Apparent consumption of flat steel products grew by 11.70% in the same comparison, to 1.10 million tonnes, while long steel use declined by 0.80% year-on-year, to 606,000 tonn...Read More
Saudi Arabia and the United Arab Emirates (UAE), the second and third largest steel consuming countries in the Middle East, have suffered mostly indirectly from the impact of Section 232, executives said during a panel at the Middle East Iron & Steel Conference in Dubai on December 10-12."We have not seen much of a direct impact [from Section 232 on the UAE]... But there is an indirect impact - th...Read More
Key data from the Friday December 21 pricing session in London. Key drivers: - Ferro-vanadium and V2O5 prices take a beating from aggressive trader selling and weak consumer demand at the end of the calendar year, alongside concerns over increased availability of Chinese material in Rotterdam. - Slump in V2O5 brings feed prices theoretically more in line with ferro-vanadium prices, when conversion...Read More
December was a slow month for stainless steel demand in Europe, according to distributors who have also complained since October of diminishing margins. "The market was lousy this month, very quiet demand. Only the first couple days of December were ok, but even then they weren't great. Prices have been going down for months, we're not making margins, so...Read More
Fastmarkets MB hosted the 22nd Middle East Iron & Steel conference in Dubai last week. Here are five things we learned...1 High-grade iron ore derivative will be an important tool for Middle East DRI industry A world-first 65% iron ore derivative launched by the Singapore Exchange in early December was hailed as an important hedging tool for the Middle East direct-reduced ironmaking (DRI) industry...Read More
The minor metals industry is facing turbulent times and increased volatility in all regions, but some things remain constant and there are always new opportunities if you know where to look, says former-chairman of the MMTA Anthony Lipmann. For Lipmann, owner of niche metals company Lipmann Walton and former chairman of the Minor Metals Trade Association, the constants include an "old fa...Read More
Brazil's apparent steel consumption increased by 6.90% year on year in November, to 1.70 million tonnes, mostly due to an improved performance in the flat steel sector, according to the national steel association A??o Brasil.Apparent consumption of flat steel products grew by 11.70% in the same comparison, to 1.10 million tonnes, while long steel use declined by 0.80% year-on-year, to 606,000 tonn...Read More
Fastmarkets MB hosted the 22nd Middle East Iron & Steel conference in Dubai last week. Here are five things we learned...1 High-grade iron ore derivative will be an important tool for Middle East DRI industry A world-first 65% iron ore derivative launched by the Singapore Exchange in early December was hailed as an important hedging tool for the Middle East direct-reduced ironmaking (DRI) industry...Read More
It's been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union. There's been a huge debate over how successful the tariffs - imposed on the grounds of national security and also applied at a 25% rate to steel - have been. Much depends on who you talk to, and what their s...Read More
Key data from the Friday December 21 pricing session in London. Key drivers: - Ferro-vanadium and V2O5 prices take a beating from aggressive trader selling and weak consumer demand at the end of the calendar year, alongside concerns over increased availability of Chinese material in Rotterdam. - Slump in V2O5 brings feed prices theoretically more in line with ferro-vanadium prices, when conversion...Read More
Aluminium billet premiums in Europe and Thailand moved lower on Friday December 21 on weaker demand and bearishness due to news that the US Treasury Department intends to remove sanctions against UC Rusal in January, while the US and Brazilian premiums were flat amid a seasonal pause in trading. European premiums tick lower on bearish view. Weak demand pressures premium in Thailand. US and Brazil...Read More
Brazilian slab export prices remained unchanged this week, with most bookings already pre-arranged due to the end-of-year holiday schedule at many companies.Fastmarkets' weekly price assessment for Brazilian slab exports was unchanged on Friday December 21, at $430-475 per tonne fob.Bookings for February shipment were virtually finished, with most deals closed to the United States near t...Read More
The pig iron market in the United States was silent this week because buyers are expecting to see price reductions in early 2019. Fastmarkets' import price assessment for pig iron in the US fell to $360-370 per tonne cfr on Friday December 21, down from $370-380 per tonne cfr a week earlier. "I have not heard any bids or [had any] inquiries from US buyers," one source from the Commonweal...Read More
The latest metal markets news and price moves to start the North American day on Friday December 21. Base metals prices on the London Metal Exchange were mostly lower during morning trading, hindered by weak equity markets and oil futures which have kept investors risk-averse.The S&P 500 Index fell 1.58% this morning amid fears that the US government could face a shutdown and continued economic pr...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday December 21.Most base metals prices on the Shanghai Futures Exchange continued to rise during early Asian trading on Friday after the dollar fell following some disappointing economic data from the United States that stoked concerns of a weakening economy. Check Fastmarket MB's live fut...Read More
Fastmarkets rounds up some of the key news and price moves across the global metal markets this week.Base metals Rio Tinto has concluded the sale of its entire 40% stake in the Grasberg mine in Indonesia for $3.5 billion, as part of a series of transactions involving state-owned PT Indonesia Asahan Aluminium (PT Inalum) and Freeport-McMoRan Inc.Aluminium market participants in the United Stat...Read More
Fastmarkets MB looks back at some of the major changes in the minor metals markets over the course of 2018.China intensified action on antimony smuggling China's growing focus on antimony smuggling along the China-Vietnam border took the market by surprise when it created a sudden shortage of material earlier this year. Chinese customs officials seized over 3,000 tonnes of antimony in a smuggling...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Friday December 21, pressured by a broad sell-off in global stock indices amid fears of a potential US government shutdown. Despite decreasing over 1% this morning, the S&P 500 index is trading 0.50% lower over the afternoon, while a modest recovery in the Dow Jones Industrial Average did little to...Read More
Comex copper prices slipped on Friday morning in the US amid the continued trade war between the US and China and Federal Reserve worries, which are weighing on the equity and commodity markets.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 1.45 cents to $2.6820 per lb.Yesterday, the Federal Reserve lifted interest rates once again and issued...Read More