Seaborne iron ore prices were rangebound on Friday December 21 after a jump on the previous day. MB 62% Fe Iron Ore Index: $72.24 per tonne cfr Qingdao, down $0.02 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.07 per tonne cfr Qingdao, down $0.02 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.16 per tonne cfr Qingdao, up $0.19 per tonne. MB 58% Fe Premium Index: $63.93 per tonne cfr Qi...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday December 21*Copper -$89.73 (-620.16yuan)Aluminium -$397.37 (-2,746.49 yuan) Zinc -$8.32 (-57.53 yuan) Nickel $239.71 (1,656.83 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Friday December 21, 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 pressure, while the Dow Jones Industrial Average slumped 2% on similar fears. Th...Read More
Metro International Trade Services has withdrawn from London Metal Exchange warehouse services in Europe with immediate effect, while the company's UK arm has simultaneously delisted a warehouse in Port Klang, according to a notice from the exchange on Friday December 21. In July, Fastmarkets reported that Metro's owner, Reuben Brothers, entered into advanced discussions regarding the sale of a ma...Read More
The seaborne coking coal market tumbled on Friday December 21 amid lower offers, and consequently, transactions concluded below prevailing levels.A shipment of premium mid-vol hard coking coal was sold to a South Asian end user at around $220 per tonne fob Australia during the day, Fastmarkets has heard.A top Australian brand was sold to an end user in southern China at $205 per tonne cfr China, m...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday December 21:Minor metalsAntimony MMTA standard grade II, $/tonne: $7,700-7,900 per tonne from $7,750-7,900Bismuth MB China domestic, yuan/tonne: 47,000-49,500 yuan per tonne from 48,000-50,000 yuanCadmium MB free market min 99.95%, cents/lb: 117-132 from 120-135Cadmium MB free market min 99.99%, cents/lb: 123-138 from 123-140Chromium...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.See also:2018 REVIEW: Eight...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
Turkish scrap import prices decreased on Friday December 21, with buyers bidding at lower prices, sources told Fastmarkets MB.European origin HMS 1&2 (80:20) was on offer at $290 per tonne cfr to Turkey, while buyers were bidding $275-280 per tonne cfr for the material. One seller told Fastmarkets that...Read More
Prices for alloy steel scrap imported into Europe weakened further this week, with the bearish trend expected to persist into the first quarter of 2019, market sources told Fastmarkets MB on Friday December 21.Despite European sources saying they had been pleasantly surprised by the level of trading activity that took place in December so far, given that the Christmas holiday is just around the co...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday December 21:Aluminium scrapCast: ?,?970-1,010 per tonne from ?,?960-1,010Mixed turnings 6%: ?,?820-870...Read More
Bulk-shipment bookings in Vietnam and South Korea have not prevented Asia ferrous scrap prices from continuing on a downward trend.Market participants were not hugely active in the market and reported reduced business activities in key import markets due to a year-end demand lull.Vietnam Fastmarkets' import price assessment for heavy melting scrap (HMS) 1&2 (80:20) sold into Vietnam was $316-317 p...Read More
The benchmark in-warehouse Rotterdam aluminium premium fell to its lowest since January 2010 on Thursday December 20, the day after after the US Treasury announced its intention to lift sanctions on Russian aluminium producer UC Rusal in January. Fastmarkets assessed the duty-unpaid premium at $55-65 per tonne on Thursday, down from $60-75 per tonne the day before. Participants told Fastmarke...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday December 20, with a continued retreat in the US dollar index failing to spur upward price action amid broadly moderate volumes.Closing at a fresh 2018 low of $1,912 per tonne, the three-month aluminium price fell to its lowest level since August 2017 at $1,905.50 per tonne amid announcement of the US Tre...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
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
China Molybdenum's acquisition of trading house IXM is central to the company's growth strategy for the coming years and it will continue to survey the market for more M&A opportunities, the company told Fastmarkets.The Chinese mining company, which has spent $4.65 billion in the past two years on an acquisition rampage, remains open to buy new assets if the right ones appear."We are looking for m...Read More
Revised standards for rebar in China have failed to lend continued support to vanadium prices in the country since their introduction in November, primarily due to enforcement of the standards not being as stringent as previously expected, market sources told Fastmarkets.The new rebar policy, effective November 1, 2018, requires Chinese steel mills to eliminate the original 335 megapascals (MPa)-t...Read More
Chinese customs officials continue to clamp down on antimony smuggling, with more material seized and more arrests made this week, Fastmarkets understands. Two suspects were arrested and 20 tonnes of antimony ingot seized on Wednesday December 19 amid China's latest efforts to stop the illegal movement of goods via the China-Vietnam border, sources familiar with the matter told Fastmarkets MB on T...Read More