Price assessments for steel rebar and billet imported into the United Arab Emirates have increased slightly this week but demand remained moderate, sources told Fastmarkets on Tuesday March 12.New local rebar prices will probably be announced after March 20, after which buying activity may increase, sources said.Market participants expected rebar prices to go up because of rising raw material pric...Read More

China's rebar prices picked up some upward momentum on Tuesday March 12 with market participants expecting iron ore supply from Brazil's Vale to tighten.Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($565-571) per tonne, up 10-30 yuan per tonneNorthern China (Beijing): 3,780-3,820 yuan per tonne, up 20-30 yuan per tonneVale has suspended port activities at its Guaiba Island Terminal on instr...Read More

Turkish steel producers have continued to book deep-sea scrap to replenish low stock levels despite the weak demand for finished steel products, sources said on Tuesday March 12.A steel producer in the Iskenderun region booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20), at $320 per tonne cfr.The cargo was scheduled to be shipped at the end of the March and was sold at the same...Read More

Physical iron ore prices improved on Tuesday March 12 following advances in China's futures and steel markets, as well as further uncertainty over Vale's supplies from Brazil.MB 62% Fe Iron Ore Index: $85.25 per tonne cfr Qingdao, up $1.46 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.37 per tonne cfr Qingdao, up $1.18 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87.35 per tonne cfr Qin...Read More

China's rebar prices picked up some upward momentum on Tuesday March 12 with market participants expecting iron ore supply from Brazil's Vale to tighten.Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($565-571) per tonne, up 10-30 yuan per tonneNorthern China (Beijing): 3,780-3,820 yuan per tonne, up 20-30 yuan per tonneVale has suspended port activities at its Guaiba Island Terminal on instr...Read More

Vehicle production in Brazil increased in February with late Carnival holidays in 2019 helping to keep figures high during the month, although exports were still under pressure, local automotive association Anfavea said on Monday March 11.Brazilian automakers produced 257,233 light vehicles, trucks and buses in February, up 20.5% from 213,498 units a year earlier. Volumes also grew 29.9% from 198,...Read More

China's auto output and sales both decreased in February due fewer working days as a result of the February 4-10 Chinese New Year holiday. China produced 1.41 million units of vehicles in February, down 17.4% from 1.71 million units a year earlier and 40.4% lower than 2.37 million units in January, the China Association of Automobile Manufacturers (CAAM) reported on Monday March 11.Sales...Read More

Fastmarkets AMM attended the annual convention of the National Association of Steel Pipe Distributors (NASPD) on Thursday March 7 and Friday March 8 in New Orleans. Here are five themes gleaned in the sessions, on the sidelines and at the soirees.The US Gulf Coast is excited about China LNG import rumors. Reports that China may agree to buy an immense amount of liquefied natural gas (LNG) exp...Read More

Chinese finished steel exports decreased in February on both a yearly and a month-on-month basis amid uncompetitive prices and fewer working days as a result of the Chinese Lunar New Year holiday.The country shipped 4.51 million tonnes of finished steel out of the country last month, down 7% from the 4.85 million tonnes exported in February 2018, according to preliminary Chinese customs data...Read More

A summary of base metals premiums from across the globe for the week to Tuesday March 12.Fastmarkets had change the publication date its London Metal...Read More

Turkish steel producers have continued to book deep-sea scrap to replenish low stock levels despite the weak demand for finished steel products, sources said on Tuesday March 12.A steel producer in the Iskenderun region booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20), at $320 per tonne cfr.The cargo was scheduled to be shipped at the end of the March and was sold at the same...Read More

The prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have been stable over the past week, with buying activity for all such materials remaining limited, Fastmarkets heard on Tuesday March 12.But new offer prices, to be sent out next week, were expected to be higher because of rises in raw material prices, sources told Fastmarkets.Higher prices were unlikely to...Read More

Copper demand in the Middle East is lagging in comparison to the rest of world, panelists at Fastmarkets' International Copper Conference in Amsterdam said on Tuesday March 12.While global demand for copper is healthy, copper demand in the Middle East remains the laggard, Nexans' head of procurement Christophe Allain and Dubai Cable purchasing manager Laila Marafi agreed when speaking to delegates...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday March 12 that are worth another look.The development of the futures market in China has been a "double-edged sword" for the domestic ferro-silicon industry, leading to more flexibility for market participants and wilder price swings than prior to its existence, one speaker said at Fastmarkets' Asian Ferro-alloys Conference...Read More

Base metals prices on the London Metal Exchange traded higher across the board during afternoon trading on March 12, with zinc up by $100 per tonne at the close.Zinc prices remain well supported by signs of tightening supply, with LME inventories at the lowest level since 2007."The zinc price is zigzagging upward and nearing the $2,800-per-tonne mark. The price has been lent support by supply conc...Read More

Fastmarkets has amended its weekly London Metal Exchange warrant premiums coverage across the entire base metals asset class. Following a one-month consultation period, Fastmarkets will change the publication date for LME warrant premiums to Wednesdays 3-4pm London time from Tuesdays 3-4pm, effective from March 12, while the frequency of the coverage will remain unchanged on a weekly basis. In add...Read More

A 229-day queue for aluminium has built up at London Metal Exchange-approved warehouses in Port Klang, Malaysia, operated by Istim, according to LME data released on Monday March 11.The wait is now over 100 days more than the queue registered at the end of February. In early February, nearly 100,000 tonnes was canceled in Port Klang - this followed cancelations of around 300,000 tonnes between Jan...Read More

Moves to enhance electronic trading on the London Metal Exchange are not a back-door attempt to close the ring, Europe's last open outcry trading floor, the exchange's chief executive officer said. Matthew Chamberlain said the introduction of Trade At Settlement (TAS) functionality last month and a three-month trial starting next week to calculate nickel prices using a weighted average price (VWAP...Read More

Base metals prices on the London Metal Exchange traded higher across the board during afternoon trading on March 12, with zinc up by $100 per tonne at the close.Zinc prices remain well supported by signs of tightening supply, with LME inventories at the lowest level since 2007."The zinc price is zigzagging upward and nearing the $2,800-per-tonne mark. The price has been lent support by supply conc...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday March 12 that are worth another look.The development of the futures market in China has been a "double-edged sword" for the domestic ferro-silicon industry, leading to more flexibility for market participants and wilder price swings than prior to its existence, one speaker said at Fastmarkets' Asian Ferro-alloys Conference...Read More