UK ferrous scrap prices for deliveries in December have uniformly dropped by ?20 per tonne due to weaker export prices and a slowdown in domestic consumer demand, trade sources told Fastmarkets MB on Thursday December 13.The move follows a rollover on consumer delivery settlements in the past two months. UK suppliers had signaled a likely drop in December shipment prices due to a fall in European...Read More
Turkish steel mills continued to stay out of the deep-sea scrap markets on Thursday December 13. They are unlikely to resume buying any time soon due to the continuing lack of demand for finished steel in the country's domestic and export markets.Steel mills in Turkey have been holding back from scrap purchases for more than two weeks now, with only one cargo booked since November 2...Read More
Comex copper prices moved higher on the morning of Thursday December 13 in the United States, with easing global trade tensions providing a boost to risk appetite.The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 0.90 cents to $2.7790 per lb.Worries that the trade war between the US and China will only escalate in 2019 have softened in recent we...Read More
As part of its series on blockchain in commodities, Fastmarkets takes a closer look at the evolution of blockchain networks for trade financeMarco PoloOne of the fastest growing trade and working capital finance networks in blockchain is the Marco Polo network, a joint venture with technology firm TradeIX and software firm R3, along with a number of major banks and their clients.Designed to facili...Read More
It was another firmer start for the three-month base metals prices on the London Metal Exchange this morning, Thursday December 13, with all the metals in positive territory and showing average gains of 0.6%.More positive steps from China on trade seems to be easing some of the concerns in the market, although the traders are probably nervous that any positivity could be unwound with one president...Read More
The European hot-rolled coil (HRC) market has remained under pressure from the traditional seasonal slowdown in demand and uncertainty over the final decision in a safeguarding case, sources told Fastmarkets this week.And high stocks and seasonal destocking mean distributors have little interest in making new deals. Having set provisional 25% tariffs for 23 steel products ...Read More
UK ferrous scrap prices for deliveries in December have uniformly dropped by ?20 per tonne due to weaker export prices and a slowdown in domestic consumer demand, trade sources told Fastmarkets MB on Thursday December 13.The move follows a rollover on consumer delivery settlements in the past two months. UK suppliers had signaled a likely drop in December shipment prices due to a fall in European...Read More
China's hot-rolled coil prices continued to rise on Thursday December 13 on strong gains in the futures market.DomesticEastern China (Shanghai): 3,770-3,800 yuan ($547-552) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, up 20 yuan per tonneA Hangzhou-based source told Fastmarkets MB that a few traders bought HRC from the spot market on seeing the surge in t...Read More
Wire rod prices in the United States have stayed flat over the past two weeks, while industry sources were divided as to whether mill hikes announced in November will be accepted by the marketplace in January 2019. Fastmarkets AMM's price assessment for industrial quality low-carbon rod held firm at $39.25-41.25 per hundredweight ($785-825 per short ton) fob mill on Wednesday December 12, with imp...Read More
UK ferrous scrap prices for deliveries in December have uniformly dropped by ?20 per tonne due to weaker export prices and a slowdown in domestic consumer demand, trade sources told Fastmarkets MB on Thursday December 13.The move follows a rollover on consumer delivery settlements in the past two months. UK suppliers had signaled a likely drop in December shipment prices due to a fall in European...Read More
Turkish domestic long steel prices have continued to weaken over the past week due to limited demand from the construction sector in particular, sources said on Thursday December 13.Fastmarkets' weekly price assessment for domestic rebar in Turkey was at TRY2,880-2,950 ($538-551) per tonne ex-works, including 18% VAT, down from last week's TRY2,900-3,000 per tonne.The local sales prices for r...Read More
The pig iron export market in the Commonwealth of Independent States remained inactive during the week ended Thursday December 13 as buyers preferred to postpone bookings ahead of the year-end holidays.Fastmarkets' CIS export price assessment for high-manganese pig iron was unchanged at $355-360 per tonne fob Black Sea on December 13."Buyers prefer to wait until January, because [the] pig iron pri...Read More
UK ferrous scrap prices for deliveries in December have uniformly dropped by ?20 per tonne due to weaker export prices and a slowdown in domestic consumer demand, trade sources told Fastmarkets MB on Thursday December 13.The move follows a rollover on consumer delivery settlements in the past two months. UK suppliers had signaled a likely drop in December shipment prices due to a fall in European...Read More
Turkish steel mills continued to stay out of the deep-sea scrap markets on Thursday December 13. They are unlikely to resume buying any time soon due to the continuing lack of demand for finished steel in the country's domestic and export markets.Steel mills in Turkey have been holding back from scrap purchases for more than two weeks now, with only one cargo booked since November 2...Read More
UK ferrous scrap prices for deliveries in December have uniformly dropped by ?20 per tonne due to weaker export prices and a slowdown in domestic consumer demand, trade sources told Fastmarkets MB on Thursday December 13.The move follows a rollover on consumer delivery settlements in the past two months. UK suppliers had signaled a likely drop in December shipment prices due to a fall in European...Read More
Turkish billet prices have fallen over the past week because mills in the country have been struggling with weak rebar demand in both the domestic and the export markets, sources said on Thursday December 13.Fastmarkets MB's weekly price assessment for billet imports into Turkey was $435-445 per tonne cfr, widening downward from last week's range of $440-445 per tonne.Billet producers in the CIS r...Read More
Steel billet import prices into Egypt have decreased over the past week amid new offers from the CIS region but domestic rebar prices are still unchanged, sources said on Thursday December 13.Fastmarkets MB's weekly price assessment for steel billet imported into Egypt was $440-445 per tonne cfr on Thursday, falling from $450-460 per tonne cfr last week.Billet producers in the Commonwealth of Inde...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
Output and sales continued to contract in China's automotive sector, with the rate of decline during the first 11 months of 2018 widening in comparison with that for the first 10 months.The country produced 2.50 million vehicles in November, down 18.9% from a year earlier, while sales fell 13.9% on the year to 2.55 million units, according to the latest data from the China Association of Automobil...Read More
Dutch bank Rabobank, international trading firm Concord Resources and warehousing firm PGS are developing a blockchain trading platform for the metal repo financing business, the companies said.The parties signed a letter of intent and have already started developing the system, known as Beyond Commodities. Its goal is to drive efficiencies, traceability and transparency in metals trading - specif...Read More