A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 10.Please click...Read More

The London Metal Exchange three-month tin price closed at $25,125 per tonne on Wednesday March 10, while the lead price sunk to levels last seen in November 2020 alongside a broad-based consolidation for most base metals. Tin's near-3% price rise on Wednesday comes on the back of period of weakness which targeted the entire complex since the start of March following an earlier surge at the end of...Read More

Shanghai zinc premiums were at their highest in almost two years due to a narrower arbitrage import loss in the week to Tuesday March 9, while premiums for zinc and lead across the other regions stayed largely flat from a week agoShanghai zinc premiums rise to highest since May 2019 amid narrower arbitrage loss.  Zinc premiums flat in South East Asia, with freight costs improving trade. ...Read More

There is no wait time for aluminium at Istim's London Metal Exchange warehouses in Port Klang, Malaysia, for the first time since December 2018, according to the LME's latest queue report that covers February. The zero-day wait for aluminium at Istim warehouses at the end of February, is down from 23 days at the end of January 2021. Queues to remove metal from LME-approved warehouses hit a high of...Read More

The conclusion of various holiday seasons, the end of winter, the progress of Covid-19 vaccination programs, and the will to return to more normal ways of life were all strong positives for the global long steel products market, the International Rebar Producers & Exporters Association (Irepas) said last week.The current situation and sentiment were generally very good in the world's long steel ma...Read More

A summary of the financial results from German metals distributor Kl??ckner & Co for the fourth quarter and full year of 2020.In brief Steel demand, negatively affected by the Covid-19 pandemic in the first half of 2020, had started to recover toward the year-end, driving an improvement in Kl??ckner's results. In Europe, the price of flat steel products, which account for around 50% of Kl??ckner's...Read More

Italian re-rollers have been trying to achieve a price rise for domestic heavy steel plate due to the high cost of steel slab feedstock, sources told Fastmarkets on Wednesday March 10."In Italy, prices are starting now from ?,?700 [$832] per tonne ex-works, [and they are] targeting ?,?750 per tonne ex-works. Slab demand will be good because mills are producing at a good pace, so they will need to...Read More

Domestic prices for steel hot-rolled coil in Europe increased again over the week to Wednesday March 10, due to a shortage of material, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?762.50 ($906.00) per tonne on Wednesday, up by ?,?6.25 per tonne from ?,?756.25 per tonne on March 9.The index was also up by ?,?13.75...Read More

Steel rebar prices in the north of Europe have been broadly flat over the past week despite a lack of buying activity, but with support from high feedstock prices, sources told Fastmarkets on Wednesday March 10.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?630-660 ($749-784) per tonne on Wednesday, widening downward from ?,?640-...Read More

Billet producers from the Commonwealth of Independent States (CIS) faced some pressure from lower scrap costs and growing transportation prices this week, sources said on March 10.CIS-origin billet was available to foreign customers at $590-600 per tonne fob Black Sea this week, unchanged from a week earlier.If last week a number of sales were heard done to Turkey, this week trading activity was m...Read More

Intel (INTC), an S&P 100 stock moved above $63.56 and $63.82 extending an intermediate uptrend.Italy iShares (EWI) moved above $30.93 extending an intermediate uptrend.Keurig Dr. Pepper (KDP), a NASDAQ 100 stock moved above $33.69 to an all-time high extending an intermediate uptrend.Materials SPDRs (XLB) moved above $77.77 to an all-time high extending an intermediate uptrend. Pre-openin...Read More

The steel wire rod market in Northern Europe has been largely flat over the past seven days, although sentiment was quite positive amid a materials shortage and good buying appetite, Fastmarkets heard on Wednesday March 10.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?660-690 ($784-820) per tonne on Wednesday, stable week on wee...Read More

An overhang of obsolete material at the end of negotiations in the March ferrous scrap trade in the United States has sellers mixed over what is in store for April.While mills are still chasing and open to buying prime material for the March order books, secondary grades - including No1 heavy melt and shredded scrap - are only able to find homes if sellers are willing to sell below market value."'...Read More

Turkish steel mills went quiet in the deep-sea scrap markets after the latest downturn in prices, with activity in the long steel market still slow, market participants told Fastmarkets on Wednesday March 10.Three US cargoes had been booked by two Turkish steelmakers, on Saturday and late on Monday, at around $453-456 per tonne cfr on HMS 1&2 (80:20) basis, sending daily scrap indices down by almo...Read More

British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers at prices up by ?30 ($42) per tonne for March.This increase will recover all the losses made one month earlier, amid persistently tight local supplies and firm demand for exports to traditional deep-sea markets, industry sources told Fastmarkets on Wednesday March 10.The move was seen a...Read More

High bulk freight costs are causing severe challenges in shipping ferrous materials this week, sources told Fastmarkets.Bulk freight rates have increased since the start of the year, underpinned by expensive oil and a lack of available vessels in major global markets, such as China.Brent crude oil prices were at $67.20 per barrel at the end of trading on March 9, up from $65 per barrel on Feb...Read More

Seaborne premium hard coking coal prices in both the fob and cfr markets inched down on Wednesday March 10 following active trading in the fob market the previous day, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $118.27 per tonne, down $1.13 per tonnePremium hard coking coal, cfr Jingtang: $212.98 per tonne, down $1.31 per tonneHard coking coal, fob DBCT: $109.40 per tonne,...Read More

An increase in domestic steel scrap supplies in China and lower mill purchase prices in some regions have dampened import prices, sources told Fastmarkets on Wednesday March 10.Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China was $495-500 per tonne on Wednesday, narrowing downward by $5 per tonne from a day earlier.Japanese HS (equivalent to Chinese import g...Read More

A correction has been issued for this article.The...Read More

Iron ore prices were largely rangebound on Wednesday March 10 in a more stable market following the steep plunge on Tuesday, with the lower prices attracting some buying interest but overall demand is suppressed due to continued environmental restrictions in China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $164.67 per tonne, up $0.26 per tonne 62% Fe low-alumina fines, cfr Qingdao: $...Read More