The price for rebar produced and delivered in Northern Europe stayed flat week on week on Wednesday December 5, with consumers unlikely to make further purchases before the new year.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe remained at $540-560 ($614-637) per tonne delivered on Wednesday. Offers were expected to remain above the range for the rest of December and i...Read More
Hollow steel sections prices in Europe were stable this week but lower feedstock costs and a reduced import quota limit could bring about a significant change, market participants said.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was an unchanged ?,?635-650 ($722-739) per tonne delivered on Wednesday December 5.The hollow...Read More
The price for rebar produced and delivered in Southern Europe was flat on Wednesday December 5, with market participants pulling back in anticipation of the year-end holidays.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?530-540 ($603-614) per tonne delivered for the third consecutive week on Wednesday, with no new business expected before the new...Read More
Turkish steel producers resumed their deep-sea scrap bookings as soon as they received lower prices from a European supplier, sources said on Wednesday December 5.Mills in Turkey were looking for prices at around $300-305 per tonne cfr for HMS 1&2 (80:20) while the offers for the material were firm at $310-320 per tonne cfr from suppliers in the United States and the Baltic Sea.But a steel mill in...Read More
Seaborne iron ore prices rose on Wednesday December 5 on an uptick in the iron ore futures contract.MB 62% Fe Iron Ore Index: $67.38 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Pilbara Blend Fines Index: $66.65 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $71.21 per tonne cfr Qingdao, down by $0.19 per tonne.MB 58% Fe Premium Index: $61.85 per tonne...Read More
Vale has hailed the launch of a derivative contract by the Singapore Exchange (SGX) on Monday December 3 as a positive development for the high-grade iron ore market."The new 65% Fe derivative contract launched by SGX is a good move, and it shows interest in market for high-grade products," Peter Poppinga, executive director ferrous minerals, said at at company investor day on Tuesday December 4.P...Read More
Fastmarkets has today changed the publication time of its CIS export steel billet index, fob Black Sea ports, from 2pm to 4pm London time.Following a consultation period, Fastmarkets has made the change to better align the data collection window for the index with the trading patterns of the market, thereby ensuring that each daily index more accurately represents the trading activity of any given...Read More
China's rebar prices continued decreasing in both the domestic and export markets on Wednesday December 5 due to bearish sentiment although the futures market was strong. Domestic Eastern China (Shanghai): 3,900-3,940 yuan ($570-576) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,600-3,620 yuan per tonne, narrowed down 10 yuan per tonneThe futures market picked up today, but spot mar...Read More
Hollow steel sections prices in Europe were stable this week but lower feedstock costs and a reduced import quota limit could bring about a significant change, market participants said.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was an unchanged ?,?635-650 ($722-739) per tonne delivered on Wednesday December 5.The hollow...Read More
Brazilian apparent steel use will be higher than previously expected during 2018 and is estimated to grow again in 2019 while the industry moves on from a crisis with better economic prospects, local steel association A??o Brasil said on Wednesday December 5.Steel products consumption is set to reach 21.17 million tonnes this year, up by 5.3% from 19.57 million tonnes in 2017. Apparent use will th...Read More
Brazilian apparent steel use will be higher than previously expected during 2018 and is estimated to grow again in 2019 while the industry moves on from a crisis with better economic prospects, local steel association A??o Brasil said on Wednesday December 5.Steel products consumption is set to reach 21.17 million tonnes this year, up by 5.3% from 19.57 million tonnes in 2017. Apparent use will th...Read More
Nickel premiums in Europe and Asia have fallen over the week ending Wednesday December 5, with the start of the seasonal end-of-year slowdowns, while the US market remained quiet. Nickel briquette premiums fell, with market participants liquidating stock before the end of the calendar year. Seasonal year-end pressure pushed nickel premiums lower in China. Premiums in the United States were unchang...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Wednesday December 5, with most of the three-month prices trading in narrow ranges while impervious to broad strength in the US dollar.Zinc's three-month price was the best performer over the afternoon, reaching an intraday high of $2,617.50 per tonne and closing at its highest price since November 16. Promp...Read More
Sumitomo Metal Mining Co and Sumitomo Corp have agreed to buy a 30% indirect stake in the company that owns the Quebrada Blanca Phase 2 (QB2) copper project in northern Chile, according to its majority owner Teck Resources Ltd. The Teck board has also approved the QB2 project for full construction, with first production targeted for the second half of 2021. Teck will receive $1.2 billion for the s...Read More
The latest news and price moves to start the Asian day on Thursday December 6.Base metals prices on the London Metal Exchange were mixed at the close of trading on Wednesday December 5, with most of the three-month prices trading in narrow ranges while impervious to broad strength in the US dollar. Read more here in our live futures report.Here is how prices looked at the close of trading:Bra...Read More
The latest metal markets news and price moves to start the North American day on Wednesday December 5Base metals prices on the London Metal Exchange were mostly lower during morning trading, with downward pressure emerging from a stronger dollar index and trading worries.Here's how base metals prices looked at 12:08pm London time:Read our live futures report here. "Copper prices have been the hard...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday December 5. Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Wednesday, with risk sentiment deteriorating amid confusion over whether much progress was made during US-China trade talks this past weekend.Check Fastmarkets MB's live...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Wednesday December 5, with most of the three-month prices trading in narrow ranges while impervious to broad strength in the US dollar.Zinc's three-month price was the best performer over the afternoon, reaching an intraday high of $2,617.50 per tonne and closing at its highest price since November 16. Promp...Read More
Comex copper prices staged a modest recovery during morning trading on Wednesday morning in the US amid calmer market conditions after yesterday's major equity sell-off. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 0.30 cents to $2.7620 per lb. Despite optimism from the recent Group of Nations (G20) meeting in Argentina over the weeken...Read More
Seaborne iron ore prices rose on Wednesday December 5 on an uptick in the iron ore futures contract.MB 62% Fe Iron Ore Index: $67.38 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Pilbara Blend Fines Index: $66.65 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $71.21 per tonne cfr Qingdao, down by $0.19 per tonne.MB 58% Fe Premium Index: $61.85 per tonne...Read More