The coking coal and coke contracts led the uptrend in the Chinese ferrous futures market during the morning trading session on Wednesday January 23.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,638 yuan ($534) per tonne, up 1 yuan per tonneMay hot-rolled coil: 3,560 yuan per tonne, up 5 yuan per tonneDalian Commodity Exchange May iron ore: 528 yuan per tonne, up 0...Read More

Prices for hollow steel sections in Northern Europe moved downward on Wednesday January 23 due to falling costs for feedstock materials, market participants have told Fastmarkets.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?5 per tonne to ?,?630-640 ($716-727) per tonne delivered on January 23, from ?,?635-645 ($726...Read More

The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 23, after the previous week's price reductions failed to spark an increase in activity.Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe stayed at $530-550 ($602-625) per tonne delivered on Wednesday. The contract dipped from $540-560 per tonne a week ago.Few deals were repor...Read More

European prices for mesh-quality wire rod stayed flat across the continent on Wednesday January 23, with buyers still unwilling to commit to purchases while they see the potential for lower prices in future after the implementation of the European Commission's new import quotas.Fastmarkets MB's weekly domestic price assessment for mesh-quality wire rod in Northern Europe stayed at ?,?530-550 ($602...Read More

Deep-sea scrap import prices into Turkey remained firm on Wednesday January 23, with suppliers trying to raise their offers to mills which are trying to replenish their depleted stocks, sources told Fastmarkets.A deep-sea cargo from late last week came to light on Wednesday, indicating a minimum price of $290 per tonne cfr for United States-origin HMS 1&2 (80:20).A steel mill in the Iskenderun reg...Read More

Seaborne iron ore prices fell further on Wednesday January 23 with offers continuing to outnumber bids.MB 62% Fe Iron Ore Index: $74.48 per tonne cfr Qingdao, down by $0.30 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.32 per tonne cfr Qingdao, down by $0.30 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $75.84 per tonne cfr Qingdao, up by $0.06 per tonne.MB 58% Fe Premium Index: $65.94 per...Read More

The coking coal and coke contracts led the uptrend in the Chinese ferrous futures market during the morning trading session on Wednesday January 23.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,638 yuan ($534) per tonne, up 1 yuan per tonneMay hot-rolled coil: 3,560 yuan per tonne, up 5 yuan per tonneDalian Commodity Exchange May iron ore: 528 yuan per tonne, up 0...Read More

Iranian billet and slab producers continued to reduce their export prices to try and attract customers put off by US trading sanctions.The number of foreign buyers willing to deal with shipments from Iran has steadiliy decreased since the implementation of sanctions by the United States in August 2018. In Gulf Co-operation Council Countries (GCC), and in the UAE in particular (which used to be one...Read More

China's rebar prices were unchanged on Wednesday January 23 in both the domestic and export markets amid uncertainties due to conflicting signals from movements for billet and steel futures.Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($543-549) per tonne, unchanged Northern China (Beijing): 3,670-3,700 yuan per tonne, unchangedThe price of billet fell late on Tuesday on weak demand, but re...Read More

Tsingshan Group, Taiyuan Iron & Steel (Tisco) and Baosteel - China's leading stainless steel mills - will maintain their high-carbon ferro-chrome tender prices unchanged month on month for February amid comparatively stable domestic stainless steel prices over the past few weeks. Tisco released its February tender price for high-carbon ferro-chrome at 6,650 yuan ($977) per tonne on Tuesday January...Read More

Prices for hollow steel sections in Northern Europe moved downward on Wednesday January 23 due to falling costs for feedstock materials, market participants have told Fastmarkets.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?5 per tonne to ?,?630-640 ($716-727) per tonne delivered on January 23, from ?,?635-645 ($726...Read More

Iranian billet and slab producers continued to reduce their export prices to try and attract customers put off by US trading sanctions.The number of foreign buyers willing to deal with shipments from Iran has steadiliy decreased since the implementation of sanctions by the United States in August 2018. In Gulf Co-operation Council Countries (GCC), and in the UAE in particular (which used to be one...Read More

The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 23, after the previous week's price reductions failed to spark an increase in activity.Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe stayed at $530-550 ($602-625) per tonne delivered on Wednesday. The contract dipped from $540-560 per tonne a week ago.Few deals were repor...Read More

The coking coal and coke contracts led the uptrend in the Chinese ferrous futures market during the morning trading session on Wednesday January 23.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,638 yuan ($534) per tonne, up 1 yuan per tonneMay hot-rolled coil: 3,560 yuan per tonne, up 5 yuan per tonneDalian Commodity Exchange May iron ore: 528 yuan per tonne, up 0...Read More

Iranian billet and slab producers continued to reduce their export prices to try and attract customers put off by US trading sanctions.The number of foreign buyers willing to deal with shipments from Iran has steadiliy decreased since the implementation of sanctions by the United States in August 2018. In Gulf Co-operation Council Countries (GCC), and in the UAE in particular (which used to be one...Read More

Delays began to form at the London Metal Exchange's warrant depository this week after large amounts of warrants were being cancelled, sources told Fastmarkets MB.There were delays of up to five hours at the depository on Tuesday January 22, market sources said. As a result, the LME closed the depository early due to a backlog and stopped accepting further cancellations, a second source said.The L...Read More

Zinc futures on the London Metal Exchange led gains at the close of trading on Wednesday January 23 with its three-month price continuing to trade above $2,600 per tonne, while the rest of the complex trends higher against a softer dollar index. After a fresh cancelation of more than 22,000 tonnes resulted in most of European LME zinc's stock - principally held in LME-listed warehouses in Rotterda...Read More

Tin premiums in Europe, the United States and China remained flat in the week beginning Monday January 21, amid continued uncertainty about delays to exports from Indonesia, while a lack of spot market activity, higher prices and a wide backwardation continued to deter investment in the tin sector. European tin participants' concerns mountUS markets beginning to feel supply pinchChina quiet ahead...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday January 23 that are worth another look.The London Metal Exchange's warrant depository has begun to show delays after large amounts of warrants were canceled, sources told Fastmarkets MB. More than 130,000 tonnes of aluminium was freshly canceled on the exchange over the past two days, with traders expecting...Read More

Former BHP Billiton director John Crofts has joined Ocean Partners in Australia to help develop new opportunities in the base and precious metals concentrate market, Fastmarkets learned on Wednesday January 23.Crofts, who will be based in Melbourne, will focus on the regions of Australia and Southeast Asia.He worked at BHP Billiton for 23 years until June 2010, when he joined copper and gold...Read More