Chris Wibbelman has joined warehouse and logistics firm Istim Metals as its president, based in Detroit. He will report into Istim Metals chief executive officer Michael Whelan and will be responsible for global strategy and development. The move reunites Wibbelman with Michael and Bill Whelan, with the latter being the co-founder of warehousing and...Read More
The tin premium in Europe softened from its highest level since January 2017 due to a market shift to longer-term supply solutions despite remaining elevated on Indonesian supply concerns, while both US and Chinese premiums held ground on steady spot business and sufficient supply. European premiums ease while market finds supply solutions US participants look to 2019 contracts China'...Read More
Fasmarkets' fob Australia alumina index declined for the eighth trading day in a row on Wednesday October 7, falling back to levels not seen since before Hydro declared force majeure at the Alunorte refinery in Brazil in April. The benchmark daily fob Australia alumina index was calculated at $428.75 per tonne on Wednesday, down from $430 per tonne on Tuesday and 8.98% lower week on week from...Read More
The results of the mid-term elections to the United States Congress may have a palpable effect on aluminium prices globally, although what that effect may be was not immediately clear.As of 8am US Eastern Standard Time on Wednesday November 7, the Democratic Party had won 219 seats in the government's lower House of Representatives, achieving a majority for their party for the first time since 201...Read More
Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More
The premium for special high grade (SHG) zinc ingots in northern Europe has rebounded from an eight-year low this week on reduced warehouse stocks, while secondary lead premiums dropped in India and Southeast Asia after more units were available due to the absence from the market of a large commodity house. European zinc premium rises from 8-year low. Long term zinc and lead contract talks i...Read More
The Lead REACH Consortium has signed a co-operation deal with the European Chemicals Agency (ECHA), designed to speed up and improve the information available on registered substances and allow regulators to make faster, better-informed decisions.The agreement comes as the lead industry waits to see whether four chemical compounds that are irreplaceable in the production of lead batteries will be...Read More
The latest news and price moves to start the Asian day on Thursday November 8.Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal's price. Read more in our live futures report.Here are how prices looked at the close of trading.The latest round of sanctions imposed by the United States on November 5...Read More
Brazil's Gerdau expects international steel prices to remain at current levels throughout 2019, but is concerned about trade conflict pressure, president and chief executive officer Gustavo Werneck said on Wednesday November 7.Market fundamentals are expected to be supportive for long steel, the company's main product, due to the US Section 232 tariffs leading to increased steel prices in the Unit...Read More
Demand for flat steel in Argentina is expected to show a slight increase in 2019, after this year's financial and economic turmoil in the country, Ternium Siderar general director Mart?-n Berardi said on Wednesday November 7."We need to get through this difficult period, which should last around two to three months," Berardi said in Colombia on the sidelines of the 59th Latin America Steel Confere...Read More
Latin American steelmakers are worried about the effects of the Section 232 tariffs imposed on steel imports into the United States, as well as a diversion of steel products to the region and low-priced material from China.Increasing protectionism worldwide was one of the factors behind the slow economic growth in the region, along with currency volatility and uncertainty in Argentina, Brazil and...Read More
The new round of sanctions imposed by the United States on November 5 is expected to cut Iranian steel exports further, gradually leading to lower Iranian steel output, market sources believe."Today's action includes the designation of 50 Iranian banks and their foreign and domestic subsidiaries," the US Treasury Department announced in its report on Monday, along with "the identification of more...Read More
The price for rebar produced and delivered in Northern Europe rebounded at the low end of the range in the week to Wednesday November 7, with sellers rejecting any further push for lower prices due to high scrap prices."Scrap prices are higher and rebar prices are higher," one trader said. "There hasn't been any increase in demand, but prices have bottomed out."Fastmarkets' weekly price assessment...Read More
Prices for hollow steel sections in Northern Europe widened downward this week due to falling feedstock costs, Fastmarkets heard on Wednesday November 7.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?10 per tonne on the low end to ?,?640-660 ($730-753) per tonne delivered on November 7.This compared with ?,?650-660 pe...Read More
The following Fastmarkets minor metals prices changed on Wednesday November 7:Antimony MB free market regulus, $/tonne: $8,150-8,350 per tonne from $8,150-8,400Antimony MMTA standard grade II, $/tonne: $8,100-8,300 per tonne from $8,100-8,350Antimony MB Chinese free market MMTA standard grade II, yuan/tonne:...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob China Europe- APT, cif Rotterdam - Ferro-tungsten, in-warehouse Rotterd...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday November 7:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $11.80-12.00 per lb from $12.00-12.15Ferro-molybdenum basis...Read More
Fastmarkets has today discontinued the weekly price assessment for molybdenum concentrate, 45% Mo, in China's domestic market. Following a one-month consultation period, Fastmarkets decided to discontinue on Wednesday November 7 the assessment of its molybdenum concentrate, 45% Mo, on an in-warehouse China basis, specification below. Description: Molybdenum concentrate 45% Mo in-warehouse China Pr...Read More
China's largest steel mill, Hebei Steel, has raised its monthly purchase price for silico-manganese, reversing the cut in last month's tender.The mill has offered to buy silico-manganese at 9,100 yuan ($1,315.78) per tonne for November delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China.The latest tender is about 100 yuan higher...Read More
The stainless scrap market is limping along in the United States, with little to no improvement in sight while participants remain cautious heading into year-end."The stainless scrap market continues to be sleepy and not waking up anytime soon," one major US processor said. "Most dealers and processors are just trying to get to the end of the year with the least amount of damage [to their earnings...Read More