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

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

The European ferro-chrome market should trade through an online portal to set up a transparent pricing mechanism, according to the chief executive officer of trading house UniChrome AG, Dmitry Pastour.The use of an online portal would provide demonstrable liquidity to price indication, Pastour said during a discussion panel at Fastmarkets' Asian Ferro-alloys Conference in Hong Kong this week."With...Read More

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, according to one speaker at Fastmarkets' Asian Ferro-alloys Conference in Hong Kong this week.Ferro-silicon contracts, launched on the Zhengzhou Commodity Exchange (ZCE) in Au...Read More

Key data for the Friday 8 March pricing session in London.Key drivers- Magnesium price increases due to the tight coal supply in China's domestic markets.- A strict round of inspections taking place at all mining companies in North China's Inner Mongolia autonomous region is the main reason for the shortage. This new...Read More

Manganese ore production in China could not play a role in replacing seaborne ore due to factors such as quality and production costs, according to panelists at Fastmarkets' Asian Ferro-alloys conference in Hong Kong on Monday March 11.The domestic manganese ore supply in China cannot play a substantial role in the ferro-alloys or steel sector because of two major issues, Lei Fei, China Minmetals...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 London Metal Exchange is prepared for whatever outcome arises from the planned departure of the UK from the European Union, including a so-called "hard" Brexit, its chief executive officer said on Tuesday March 12.The two key requirements for the exchange to continue to operate as normal had already been achieved, or would be achieved, by the time of Brexit, Matthew Chamberlain said.Brexit, th...Read More

The three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.5% this morning, Tuesday March 12.Nickel once again led the way with a 1.4% gain to $13,090 per tonne, compared with Monday's close at $12,915 per tonne, while copper was up by 0.6% at $6,459 per tonne, having closed on Monday at $6,421.50 per tonne. Copper and nickel are in the driving seat...Read More

Chilean lithium miner SQM expects to triple its sales volumes by 2025, to 150,000 tonnes per year of lithium compounds, up from the 45,100 tonnes of such materials sold in 2018.SQM's production capacity for lithium compounds is expected to increase to 180,000 tpy in the next few years to meet growing demand. Current capacity is 70,000 tpy; an interim capacity for 120,000 tpy is expected in 2020.Me...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

Chinese steel plate export prices were unchanged over the past week on stable demand.Fastmarkets MB's weekly price assessment for April shipments of commercial-grade, chromium-added steel plate remained at $545-555 per tonne fob for the week to Tuesday March 12.Negotiation levels remained at $545-555 per tonne fob, with mills raising their plate offers to $555-560 per tonne fob...Read More

Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased again over the past week, with mills continuing to raise their offers amid support from China's robust domestic market.Cold-rolled coilFastmarkets MB's weekly export price assessment for Chinese SPCC 1.0mm CRC was $555-565 per tonne fob China on Tuesday March 12, up $7-8 per tonne from $547-558 per tonn...Read More

Offer prices for CIS-origin wire rod remained firm in the middle of March, supported by higher prices achieved in deals in previous weeks as well as increased scrap costs in the global market, Fastmarkets heard on Tuesday March 12.CIS wire rod was available to foreign customers at $515-525 per tonne fob Black Sea, with some sources even reporting offers as high as $540 per tonne fob...Read More

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