A summary of base metals premiums from across the globe for the week to Tuesday October 2. Please...Read More
The prices of base metals on the London Metal Exchange were mostly higher at the close of trading on Tuesday October 2, supported by improved global trade sentiment amid the newly developed USMCA trade deal in North America.Climbing 1.6% throughout the afternoon, the three-month aluminium price topped complex gains, closing above $2,100 per tonne for the first time since August 31, with total on-w...Read More
Comex copper prices rebounded in the US morning on Tuesday October 2 despite a stronger dollar and poor Chinese data. Copper prices for December settlement on the Comex division of the New York Mercantile Exchange rose 2.40 cents or 0.9% to $2.8115 per lb. The red metal has been unable to set a new direction over the past week. Still, since the...Read More
The European ferro-vanadium market stalled last week as consumers continued to sit on the sidelines, while US ferro-vanadium prices soared as the market continued to catch up to the sharp increases seen earlier in Europe.Spot prices for European ferro-vanadium were $101-105 per kg on Friday September 28, up 15 cents on the low end from $100.85-105 per kg delivered duty-paid in Europe during the mi...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
The European ferro-vanadium market stalled last week as consumers continued to sit on the sidelines, while US ferro-vanadium prices soared as the market continued to catch up to the sharp increases seen earlier in Europe.Spot prices for European ferro-vanadium were $101-105 per kg on Friday September 28, up 15 cents on the low end from $100.85-105 per kg delivered duty-paid in Europe during the mi...Read More
Chrome prices are rising in China on tighter alloy supply and lower estimates of chrome ore stocks. Ferro-chrome tender price hike by leading mill boosts ore, alloy spot prices in China Downward revision in chrome ore stock estimates further supports ore pricesAlloy prices flat in Japan, South Korea European alloy prices under pressure US ferro-chrome prices slide amid increased competitionChrome...Read More
Metalshub, the digital platform for buyers and sellers of ferro-alloys and metals, has just closed a ?,?3 million ($3.5 million) financing round with the proceeds to be used to expand its software development team and further improve its platform. The commodity technology firm, launched by two former executives from Anglo American, is focused on providing a digital marketplace for the trade of fer...Read More
Cobalt prices stabilized in late September, underpinned by tight supply of broken cathodes, but kept in check by the possibility of Chinese suppliers resuming or ramping up exports to Europe. Low-grade cobalt prices were unchanged week on week at $33.50-34.25 per lb, in-warehouse, on Friday September 28, according to Fastmarkets MB's latest assessment. High-grade cobalt prices were also unchanged...Read More
Metalshub, the digital platform for buyers and sellers of ferro-alloys and metals, has just closed a ?,?3 million ($3.5 million) financing round with the proceeds to be used to expand its software development team and further improve its platform. The commodity technology firm, launched by two former executives from Anglo American, is focused on providing a digital marketplace for the trade of fer...Read More
Turkish steel mills continued to hold back from the deep-sea scrap markets on Tuesday October 2, amid low levels of demand for finished steel in the country's domestic and export markets.After booking at least four deep-sea cargoes, totaling 95,000 tonnes, late last week, the mills fell quiet in the markets. This was mostly because of increasing input costs and weak demand for finished products, F...Read More
Comex copper prices rebounded in the US morning on Tuesday October 2 despite a stronger dollar and poor Chinese data. Copper prices for December settlement on the Comex division of the New York Mercantile Exchange rose 2.40 cents or 0.9% to $2.8115 per lb. The red metal has been unable to set a new direction over the past week. Still, since the...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
Cobalt prices stabilized in late September, underpinned by tight supply of broken cathodes, but kept in check by the possibility of Chinese suppliers resuming or ramping up exports to Europe. Low-grade cobalt prices were unchanged week on week at $33.50-34.25 per lb, in-warehouse, on Friday September 28, according to Fastmarkets MB's latest assessment. High-grade cobalt prices were also unchanged...Read More
Following a proposal to increase the frequency of its US Midwest Hot-rolled Coil Index, Fastmarkets AMM has extended the consultation period to Friday October 5 to allow for additional market feedback. The proposal to amend the index from weekly to daily, which was published on September 3, will enable Fastmarkets AMM to better reflect market activity in this ongoing period of unprecedented steel...Read More
Suppliers of hot-rolled (HR) and cold-rolled (CR) steel sheet to Russia's Central Federal District around Moscow have started to cut prices for traders due to low demand.Fastmarkets MB's weekly price assessment for Russia-origin 4mm HR sheet was at 43,000-44,600 roubles ($657-681) per tonne cpt Moscow on Monday October 1, including 18% VAT, falling from 44,600-47,600 roubles per tonne a week befor...Read More
Some flat steel import prices in the United Arab Emirates have fallen over the past week, with demand being weak because of high stocks, sources told Fastmarkets on Tuesday October 2.No major deals were heard during the week.UAEHot-rolled coil (HRC) was offered to the UAE at $600 per tonne cfr from Russia and at $580-590 per tonne cfr from India, while China offered the product at $590-600 per ton...Read More
Prices for rebar and billet in the United Arab Emirates were mostly stable in the week ended Tuesday October 2, although demand continued to be limited, sources told Fastmarkets.Demand may improve toward the end of October, when stock levels will be lower, sources said.Domestic rebarLocal producers have not officially changed their prices since late July, but they were giving discounts to buyers.T...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarOman, export, rebar, offered at...Read More
Turkish steel mills continued to hold back from the deep-sea scrap markets on Tuesday October 2, amid low levels of demand for finished steel in the country's domestic and export markets.After booking at least four deep-sea cargoes, totaling 95,000 tonnes, late last week, the mills fell quiet in the markets. This was mostly because of increasing input costs and weak demand for finished products, F...Read More