The tin premium in Europe continued its ascent on Tuesday December 11 on mounting concern for the availability of supply from Indonesia, while weak demand is keeping premiums in the United States and China flat. European premium boosted by Indonesian export freezeUS premiums flat in quiet marketChinese premiums stable on seasonality, closed import window European tin premium up before a tight Janu...Read More
Base metals prices on the London Metal Exchange had mostly drifted lower by the close on Wednesday December 12 but were confined to tight ranges throughout what was an unexceptional trading day.Volumes were thin while market participants slowed their trading ahead of the looming end of the year. In copper, around 10,000 lots traded by the 5pm close compared with more than 22,000 lots on Friday. Th...Read More
The lingering backwardation in cash/three-month zinc spreads pressured the Southeast Asian premium down this week; lead premiums were largely stable with market participants focused on securing long-term contractual supply amid the continued absence of Iranian lead units. Backwardation in cash/three-month zinc spread stood at $77 per tonne as of Wednesday December 12. The backwardation stil...Read More
Fastmarkets' European nickel premium fell, while that for briquette in the United States stabilized in an unusually active week ended Tuesday December 11 with sellers trying to command higher premiums on falling metal prices. Nickel briquette premiums fell in Rotterdam Discounting of US briquette premium stalls; spot activity picks up No change in China during year-end slowdown The prem...Read More
Comex copper prices were unchanged during trading on Wednesday December 12 amid market hesitation after the latest round of global trade developments.The copper price for March settlement on the Comex division of the New York Mercantile Exchange was flat at $2.7670 per lb.Sentiment in commodity markets received a boost from the news that China plans to slash import tariffs on US automobiles from 4...Read More
State-owned Saudi Arabian steel producer Hadeed Sabic plans to investment in a new product, although the details have yet to be announced, company president Mohammed Al-Zahrani said on Tuesday December 11.The trade war between China and the United States has affected the Middle East region because those countries that cannot export to the US are redirecting their products to the Middle East, Al-Za...Read More
Hollow steel sections prices in Europe remained flat this week while the market mulled the implications of reaching the import quota limit, market participants said.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week at ?,?635-650 ($721-738) per tonne delivered on Wednesday December 12.The hollow sectio...Read More
European prices for mesh-quality wire rod stayed flat across the Northern and Southern parts of the continent on Wednesday December 12, with the EC's import quota now more than 90% filled.Fastmarkets MB's weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($613-636) per tonne delivered on Wednesday.The European Commission's import...Read More
The price for rebar produced and delivered in Southern Europe was flat on Wednesday December 12, with no buying ahead of the holidays and while the EC's import quotas run dry.Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe stayed at ?,?530-540 ($602-613) per tonne delivered on Wednesday, with no new business now expected before the New Year and little before the Febr...Read More
Union Iron and Steel plans to produce 400,000 tonnes of rebar in 2019 after activating its new billet welding machine, chief executive officer Boris Van Thiel said at the Fastmarkets MB Middle East Iron and Steel conference in Dubai on Wednesday December 12.A re-roller of billets, Abu Dhabi-based rebar producer Union Iron and Steel has capacity of 350,000 tonnes per year. It produced 300,000 tonne...Read More
The price for rebar produced and delivered in Northern Europe remained stable on Wednesday December 12, with market participants uncertain of the impact of the rapidly filling of import quotas.Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe remained at $540-560 ($613-636) per tonne delivered on Wednesday, al though few deals were reported in the week.Buyers had been...Read More
The European ferro-molybdenum market, which climbed almost 2.5% in trading a week ago, has pared gains since Friday in line with a drop in demand.Suppliers said there is plenty of alloy available if needed amid negligible levels of consumer demand and they have cut their offer prices as a result.The ferro-molybdenum, basis 65%, in-warehouse Rotterdam price has dropped 20 cents to $29.20-29.40 per...Read More
Key data from the Wednesday December 12 pricing session in Europe. Key drivers European suppliers booked several sales in the past week, narrowing the price range to 50 cents.European market sources said there was downward market pressure from Russian suppliers, but those suppliers have reported doing deals around the middle of the current European price range.European market expected to be stabl...Read More
The following Fastmarkets minor metals prices changed on Wednesday December 12:Minor metalsCobalt MB free market high grade, $/lb: $29.90-31.40 per lb from $30.50-32.00Cobalt MB free market low grade, $/lb: $29.80-31.50 per lb from $30.30-32.00Cobalt MB China domestic, yuan/tonne: 355,000-380,000 yuan per tonne from 360,000-390,000...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday December 12:Noble alloysFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.20-29.40 per kg from $29.40-29.60Tungsten export...Read More
The first mechanized underground chrome production in Turkey has begun as part of a process to modernize all of the mines owned by Eti Krom and should increase the country's share of the global chrome market.Eti Krom is a subsidiary of Yildmadem Holding, Turkey's largest chromium producer. The mechanization is the initial step in a project to add 30% to Turkey's annual chrome ore production capaci...Read More
Brazilian pre-operational miner Sigma Lithium Resources expects the premium for high-quality lithium hydroxide monohydrate that goes into battery production to rise in the next few years while demand for electric vehicles (EVs) grows, vice-chairman Ana Cabral told Fastmarkets. "We believe prices for technical grade lithium hydroxide, at 56.5%, will fall further from now on, but premium for 90% con...Read More
Turkish steel producers extended their absence in the deep-sea scrap markets into Wednesday December 12 because of limited demand for finished steel products, sources told Fastmarkets MB.Mills in the country have been refraining from scrap purchases for more than two weeks now - only a single cargo has been booked since November 23.Demand for steel products, especially rebar, has been and remains...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, sold at $71 per tonne cfr China, laycan December 26-January 4.Beijing Iron Ore Trading Center (Corex), 65,000 tonnes of 65% Fe Karara Standard Magnetite...Read More
Seaborne iron ore prices increased moderately on Wednesday December 12 following a pick-up in China's spot steel prices. MB 62% Fe Iron Ore Index: $66.73 per tonne cfr Qingdao, up $0.76 per tonne. MB 62% Fe Pilbara Blend Fines Index: $66 per tonne cfr Qingdao, up $0.76 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $71 per tonne cfr Qingdao, up $1.32 per tonne. MB 58% Fe Premium Index: $59.92 pe...Read More