Major annual copper premium increases are coming as a result of booming demand for refined metal, Aurubis chief executive J? 1/4 rgen Schachler told Fastmarkets. Refined copper demand, driven by a global shift to increased electric connectivity is maintaining growth while higher environmental regulations pile pressure on smelter supply, he said in an interview during LME Week in London. "We see mu...Read More
The Turkish deep-sea scrap market was quiet on Tuesday October 9, with suppliers holding their offer prices steady, according to market participants.There were rumors of a European cargo being sold at $321 per tonne cfr for HMS 1&2 (80:20) and bonus at $331 or $336 per tonne. But market particpants believed that this deal had been done last week although it has only now been heard in the market.Su...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have been mostly stable over the past week, with demand being weak and buyers expecting prices to fall, sources told Fastmarkets on Tuesday October 9.Few deals were heard during the week.UAEHot-rolled coil (HRC) was offered to the UAE at $580-590 per tonne cfr from China."Demand is very, very weak - there is no will to buy. Pric...Read More
Vietnam's Ministry of Industry and Trade has started the final review into anti-dumping measures imposed on stainless cold-rolled steel from China, Taiwan, Indonesia and Malaysia, it announced on October 3.The review satisfies the requests for it made by domestic stainless steel manufacturers - including Posco VST and Inox Hoa Binh - to the ministry on September 12.The ministry's Department of Tra...Read More
China's export prices for hot-rolled coil fell on Tuesday October 9 after sellers lowered their offers amid buyers' bearish expectations, though the country's domestic market posted some gains on steady demand.DomesticEastern China (Shanghai): 4,250-4,270 yuan ($615-618) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 4,150-4,160 yuan per tonne, up 10 yuan per tonneDomestic prices rose...Read More
The latest news and price moves to start the Asian day on Wednesday October 10.Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Tuesday October 9, supported by a marginal downturn in the dollar index, with nickel prices rocketing by more than 3%. Read more in our live futures report.Here are how prices looked at the close of trading:If Brexi...Read More
Fastmarkets has discontinued its weekly price assessment for Algeria rebar imports, expressed in ?,? per tonne cfr. There will be no price assessment on October 10.After a consultation period, Fastmarkets has decided to cease assessing prices for this market. Rebar import volumes into Algeria have been decreasing rapidly since 2016, when the country's government introduced import quotas.That decis...Read More
Prices for imported billet in the United Arab Emirates went down in the week ended Tuesday October 9, although demand continued to be limited, sources told Fastmarkets.Demand may improve in about 10 days' time, when local rebar producers announce new prices, sources said.Domestic rebarLocal producers have not officially changed their prices since late July, but they were giving discounts to buyers...Read More
The Turkish deep-sea scrap market was quiet on Tuesday October 9, with suppliers holding their offer prices steady, according to market participants.There were rumors of a European cargo being sold at $321 per tonne cfr for HMS 1&2 (80:20) and bonus at $331 or $336 per tonne. But market particpants believed that this deal had been done last week although it has only now been heard in the market.Su...Read More
Seaborne iron ore was trading above $70 per tonne cfr China on Tuesday October 9 amid paper market gains.Fastmarkets MB 62% Fe Iron Ore Index: $71.14 per tonne cfr Qingdao, up by $1.73 per tonne.Fastmarkets MB 62% Fe Pilbara Blend Fines Index: $70.17 per tonne cfr Qingdao, up by $1.73 per tonne.Fastmarkets MB 62% Fe Iron Ore Index-Low Alumina: $75.19 per tonne cfr Qingdao, up $...Read More
China's rebar, hot-rolled coil and coke futures ended morning trading on Tuesday October 9 significantly higher, while the iron ore and coking coal contracts were little changed from their opening prices. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,024 yuan ($582) per tonne, up 33 yuan per tonneJanuary hot-rolled coil: 3,918 yuan per tonne, up 15 yuan per to...Read More
Offers and deal price continued to diverge significantly in the export market for steel billet from the Commonwealth of Independent States, Fastmarkets heard on Tuesday October 9.Fastmarkets' daily CIS billet index was almost unchanged at $462 per tonne fob Black Sea on Tuesday, compared with $461 per tonne...Read More
Prices for imported billet in the United Arab Emirates went down in the week ended Tuesday October 9, although demand continued to be limited, sources told Fastmarkets.Demand may improve in about 10 days' time, when local rebar producers announce new prices, sources said.Domestic rebarLocal producers have not officially changed their prices since late July, but they were giving discounts to buyers...Read More
China's domestic rebar prices saw small increases on Tuesday October 9 on higher futures and gains in the billet market. Domestic Eastern China (Shanghai): 4,530-4,570 yuan ($655-661) per tonne, up 10 yuan per tonneNorthern China (Beijing): 4,330-4,370 yuan per tonne, up 10 yuan per tonneBillet prices increased on good demand and futures moved up steadily today, leading to bullish sentiment in the...Read More
Low-grade manganese ore prices rose again on Friday October 5 on higher offers, while the high-grade market paused. Low-grade manganese ore indices rise, high-grade pauses Chinese markets quiet on National Day holiday Indian alloy prices hold European alloy prices stable US alloys soften on continued low demand Trades indicated low-grade manganese ore prices edged up in Ch...Read More
The European standard grade ferro-silicon spot price was stable for the second consecutive week on Friday October 5 after suppliers held their offer prices following a few weeks of steady falls; US prices stabilized while the Chinese ferro-silicon price was rolled over due to the National Day holiday. Europe market extends stability after run of losses Chinese market unchanged on inactivity&n...Read More
Vietnam's Ministry of Industry and Trade has started the final review into anti-dumping measures imposed on stainless cold-rolled steel from China, Taiwan, Indonesia and Malaysia, it announced on October 3.The review satisfies the requests for it made by domestic stainless steel manufacturers - including Posco VST and Inox Hoa Binh - to the ministry on September 12.The ministry's Department of Tra...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 9.Please click on the thumbnail to view the complete table.Due...Read More
Offers and deal price continued to diverge significantly in the export market for steel billet from the Commonwealth of Independent States, Fastmarkets heard on Tuesday October 9.Fastmarkets' daily CIS billet index was almost unchanged at $462 per tonne fob Black Sea on Tuesday, compared with $461 per tonne...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Tuesday October 9, supported by a marginal downturn in the dollar index, with nickel prices rocketing more than 3%. Closing above $13,000 per tonne for the first time since September 21, the three-month nickel price topped complex gains this afternoon, buoyed largely by a persistent drawdown in LME...Read More