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

The Comex copper price failed to rebound on Wednesday January 23 with technical selling continuing to weigh on the red metal. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.05 cents to $2.6590 per lb. Persistent worries over the unresolved trade war between the United States and China are keeping...Read More

Vitol has wound down its alumina trading operations following the departure of head trader Philip Blanchard, it said.Blanchard, who was based in London, became head trader for the Switzerland-based energy and commodities firm's alumina book in 2016 following the departure of Roger Pillai.Blanchard has not been replaced at Vitol; the company said it will focus on energy and related products an...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

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

Aluminium producer Hydro's casthouse in Henderson, Kentucky, has been put out of operation after an explosion Wednesday January 23 damaged its melting furnace.It is unclear how many weeks the plant, which has production capacity of 90,000 tonnes per year of secondary aluminium billets, will be out of operation,...Read More

China's imported volumes of copper scrap in 2018 went down by almost one-third from the year before, following the implementation of various scrap import barriers and a tariff on material from major supplier the United States.More copper concentrate was shipped to the country in 2018 compared with 2017, however.The quantity of Chinese copper scrap imports fell by 32.2% year-on-year to 2.4 million...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

Flat steel sales volumes from Brazilian distributors dropped by 17.3% year on year in December 2018, due to lower international prices and a number of holiday absences during the month.Brazilian flat steel domestic shipments amounted to 188,600 tonnes, compared with 228,200 tonnes in December 2017, according to figures released by national flat steel association Inda on Tuesday January 22.Clients...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

Domestic prices for steel beams in Europe were unchanged on Wednesday January 23 with market conditions remaining stable this week, sources have told Fastmarkets.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-640 ($704-727) per tonne delivered on January 23, flat week on week.Last week, prices came down by ?,?5 per tonne, an...Read More

The price for rebar produced and delivered in Southern Europe remained stable on Wednesday January 23, with the market staying quiet even after prices dipped last week.Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe stayed at ?,?510-530 ($579-602) per tonne delivered on Wednesday, with few deals reported over the past week. Offers have drifted lower - the market has....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 latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at the March average of the Fastmarkets MB 62% Fe Iron Ore Index-Low Alumina at a premium of $2.05 per tonne, laycan February...Read More

Higher bids amid improved sentiment among seaborne coking coal market participants culminated in higher spot prices on Wednesday January 23.A February-laycan cargo of a top Australian brand was sold at $198.50 per tonne cfr China to a northern Chinese end user, various sources said.A cargo of branded materials, scheduled for loading in March, also changed hands at $197 per tonne fob Australia on t...Read More

Byerwen mine in Queensland, Australia successfully delivered the first shipment of hard coking-coal to JFE Steel's West Japan Works this month, the steel mill said on Wednesday January 23."Together with QCoal, JFE Steel will work to develop the mine and provide a stable, long-term supply of coking coal, which is expected to help reduce volatility in the coking coal market," JFE Steel said.The stee...Read More

Demand for ferrous scrap from end users in Asia remained strong this week, with major steelmakers looking to purchase more of the raw material in the face of strengthening prices in the key market of Turkey.In South Korea, a major mill is seeking Japanese H2 scrap, heavy melting scrap (HMS) 1&2 (50:50), shredded scrap as well as plate and structural (P&S) scrap this week.It submitted bids of ?28,...Read More