Indian ferro-chrome producers will continue to target the European market in 2019 and beyond despite a recent softening in prices, according to an Indian exporter who is establishing trading connections to European destinations. "We are looking into setting up [delivered duty-paid ferro-chrome] delivery into Europe and how to make that profitable," said the source, who anticipated starting exports...Read More
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
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
Brazilian miner Vale will invest an additional $500 million in its Vale New Caledonia (VNC) nickel operations in the South Pacific due to expectations of increased demand from rising electric vehicle (EV) output, chief executive officer Fabio Schvartsman said on Tuesday December 4."We will need all of the capacity of VNC to meet this demand," Schvartsman said.In two years, nickel output from VNC w...Read More
Lithium-focused Wealth Minerals has signed letters of intent to acquire stakes in two Chilean copper projects, which will be held by newly formed subsidiary Wealth Copper.Canada-registered Wealth intends to spin-out Wealth Copper to shareholders of Wealth, with the intention of listing the new unit on the TSX Venture Exchange in Toronto. Wealth itself will continue to focus on its Chilean lithium...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
Fastmarkets MB proposes to discontinue four weekly tin spot premium assessments in Rotterdam, Shanghai and Singapore due to a lack of spot liquidity.The four prices are the 99.85% tin ingot premiums in-warehouse Rotterdam and cif Shanghai and the 99.9% tin ingot premiums for standard and low-lead purities in-warehouse Singapore. Fastmarkets MB will continue to publish weekly premiums for 99.9...Read More
The hot-rolled coil price in the United States was largely steady on Tuesday December 4, moving only 0.2% higher with little market activity reported.Fastmarkets AMM's daily US Midwest HRC index inched up to $37.85 per hundredweight ($757 per short ton) on Tuesday, up slightly from $37.77 per cwt the previous day.Lead times stand at around three to four weeks, market participants said.Qu...Read More
CIS export billet prices continued fall this week, reflecting a lack of supportive factors in the market.Fastmarkets MB's daily CIS export steel billet index was $432 per tonne fob Black Sea on Wednesday December 5, a drop of $3 per tonne from yesterday.The increase in Chinese domestic long steel and billet prices early this week has not provided the expected support to prices in Asia - offers of...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
European prices for mesh-quality wire rod stayed flat across the Northern and Southern parts of the continent on Wednesday December 5, with the EC's import quota's fulfillment passing the 90% mark.Fastmarkets MB's weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($614-637) per tonne delivered on Wednesday.The market has been quie...Read More
Domestic prices for steel beams in Europe were unchanged this week but mills continue to push for increases, sources told Fastmarkets MB on Wednesday December 5.Fastmarkets MB's weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-645 ($705-733) per tonne on December 5, unchanged week on week. "Producers are announcing a considerable increase...Read More
Turkey's flat steel export volumes rose by 77.08% year-on-year in October 2018, according to data newly published by the Turkish Statistical Institute (TUIK).The reason for the increase in export volumes was strong demand, especially in Europe, as well as weak domestic demand within Turkey, according to market participants.Fastmarkets' average price for Turkish domestic hot-rolled coil (HRC) was $...Read More
Key data from the Wednesday December 5 pricing session in Europe. Key drivers European suppliers booked a number of sales at lower prices in the past week amid relatively quiet consumer demand. Heavy industry typically uses the run-up to year-end holidays to clear order books, book profits and square financial accounts. Consequently, holders of feedstock try and shift their stock levels and are u...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday December 5:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.30-12.40 per lb from $12.10-12.30Ferro-molybdenum basis 65% min, in-warehouse Rotterdam,...Read More
The following Fastmarkets minor metals prices changed on Wednesday December 5:Minor metalsAntimony MMTA standard grade II, $/tonne: $7,850-8,050 per tonne from $7,900-8,100Cobalt MB free market low grade, $/lb: $31.80-32.60 per lb from $32.00-32.60Cobalt MB China domestic, yuan/tonne: 365,000-395,000 yuan per tonne from 370,000-400,000...Read More
Fastmarkets MB proposes to launch two new manganese ore China port indices on a free-on-truck (fot) basis.The two new indices will be based on ores with manganese ore content of 37% and of 44%. China is the world's biggest consumer of manganese ores, accounting for 60-70% of all seaborne trades. Demand for manganese ores has been steadily growing over recent years due to anticipated new projects i...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
China Molybdenum Co will take direct control of metals trader IXM in a $495-million buyout of a fund it set up to originally purchase the firm from Louis Dreyfus, according to a notice issued on the Hong Kong Stock Exchange on Tuesday December 4.The deal exceeds the $466 million paid by the China Molybdenum-backed NCCL Natural Resources Investment Fund in May after initial agreements were signed l...Read More