Prices for domestic hollow steel sections in Europe remained unchanged this week while the market considered the possible outcomes of the region's recently launched anti-dumping investigation into the product, market sources told Fastmarkets on Wednesday October 3.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at ?,?650...Read More
Demand for flat steel in Turkey was expected to remain slow throughout October, but prices were not expected to fall because they did so in September, and export demand was now strong, market participants told Fastmarkets on Wednesday October 3.Local producers have filled their order books until November, they said.The price falls in September were in part a result of the Turkish lira losing a sig...Read More
The Brazilian government has started a review of its anti-dumping duties on imports of heavy plate from China, Ukraine, South Korea and South Africa.The duties, which were due to expire in October, will remain in place until the conclusion of the review, according to an announcement by the country's foreign trade secretariat, Secex, published in the Brazilian official gazette o...Read More
The iron ore market remained at a standstill on Wednesday October 3 with China still halfway into its Golden Week, even as the Australian government published its forecast of a gradual drop in imports of the steelmaking raw material by the world's biggest consumer.Metal Bulletin 62% Fe Iron Ore Index: $69.24 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.27 p...Read More
Long queues, expensive financing rates and strong demand continued to push premiums for cut nickel cathodes higher in Europe, while US nickel premiums continued to flat-line in the absence of spot-market demand. European 4x4 premiums continue rise on demand strength US premiums flat-line as spot demand takes second place to long-term negotiations.Cut nickel cathode premiumsThe premium for 4x4 nick...Read More
Demand for flat steel in Turkey was expected to remain slow throughout October, but prices were not expected to fall because they did so in September, and export demand was now strong, market participants told Fastmarkets on Wednesday October 3.Local producers have filled their order books until November, they said.The price falls in September were in part a result of the Turkish lira losing a sig...Read More
Domestic long steel prices in EU markets were expected to push moderately higher over October, with producers foreseeing strong demand and high costs, although the developing situation in Turkey could stifle any price increases, sources told Fastmarkets this week."We're seeing October deals at [prices] about ?,?20 [($23) per tonne] above September business," a producer said, pointing to a trio of...Read More
Domestic prices for heavy steel plate in both North and South Europe have declined over the week due to poor trading and lower slab costs, sources told Fastmarkets on Wednesday October 3.Fastmarkets MB's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe moved down to ?,?580-590 ($670-681) per tonne ex-works on October 3, from ?,?585-595 per tonne ex-works a wee...Read More
The latest news and price moves to start the Asian day on Thursday October 4.Base metal prices on the London Metal Exchange were up again at the close of trading on Wednesday October 3, with aluminium's three-month price gaining by more than 4% due to a full closure of Norsk Hydro's alumina operations in Brazil although lead struggled against trade woes. Read more in our live future...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 3.Base metals prices on the London Metal Exchange were mostly lower during morning trading on Wednesday October 3, with the exception of aluminium, which climbed more than 3% following news of a shutdown in operations at Norsk Hydro's Alunorte alumina refinery in Brazil.Reaching an intraday high of $...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday October 3.Most three-month base metals prices on the London Metal Exchange maintained their downward trajectory during early trading on Wednesday, with recent weak Chinese economic data and a strong dollar dampening risk-on sentiment.Check Fastmarkets MB's live futures report here.Zi...Read More
Supply disruption, strong demand, multi-year prices highs and subsequent supply responses have meant for another year of price swings and volatility across many of the minors metals, ores and ferro-alloys markets. And now, with LME Week and contract negotiating season coming around again, players must contend with Trump administration tariffs on imports of a number of China produced goods, includi...Read More
The prices of base metals on the London Metal Exchange were mixed at the close of trading on Wednesday October 3, with aluminium's three-month price up more than 4% amid a full closure of Norsk Hydro's alumina operations in Brazil, while lead struggled against trade woes. Reaching an intraday high of $2,220.50 per tonne over the afternoon, the three-month aluminium price continues to trade at its...Read More
The iron ore market remained at a standstill on Wednesday October 3 with China still halfway into its Golden Week, even as the Australian government published its forecast of a gradual drop in imports of the steelmaking raw material by the world's biggest consumer.Metal Bulletin 62% Fe Iron Ore Index: $69.24 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.27 p...Read More
The trading lull in the seaborne coking coal market persisted on Wednesday October 3 in the absence of Chinese participants celebrating the country's national day."We are waiting for the Chinese [end users] to return to the seaborne market in order to gauge if the current spot prices are sustainable," a North Asian...Read More
Domestic prices for hot-rolled coil in Europe inched down this week despite some higher offers for the material from Turkey, sources told Fastmarkets MB on Wednesday October 3."Turkish mills have been less aggressive with their offers to Europe,," a Southern European source said. "it seems that the reason behind it is the currency exchange-rate change."The Turkish lira has gained 7.56% a...Read More
The prices of base metals on the London Metal Exchange were mixed at the close of trading on Wednesday October 3, with aluminium's three-month price up more than 4% amid a full closure of Norsk Hydro's alumina operations in Brazil, while lead struggled against trade woes. Reaching an intraday high of $2,220.50 per tonne over the afternoon, the three-month aluminium price continues to trade at its...Read More
Chinese futures brokerage firm Nanhua Futures has taken steps to attain category II clearing membership on the London Metal Exchange, with a particular focus on trading LME warrants, Fastmarkets understands. The Hangzhou-headquartered firm aims to expand its commodity portfolio to the London market under the title of Nanhua Financial UK. The company currently operates 24 branches and six futures r...Read More
Tin premiums across Europe and the United States were flat in the week to Tuesday October 2, with supply flows from Indonesia and other producing countries remaining steady amid a slowdown in business while the market awaits the start of LME Week 2018. Rotterdam 99.9% premium holds multi-year low amid oversupply US premiums flat on sparse trades European premiums hold firm with participants...Read More
Comex copper prices were little changed in morning trading on Wednesday October 3 with the market seeking fresh catalysts before setting a new direction.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange dipped 0.65 cents or 0.2% to $2.800 per lb.Over the past few weeks, the red metal has drifted around the current intraday price with the market contend...Read More