Following reports of a potential power shortage in one of China's major ferro-alloy production hubs in the second quarter of this year, market participants have downplayed any immediate impact on ferro-alloy prices in the country, saying they intend to adopt a wait-and-see stance in the run up to April.The city of Ulanqab in China's autonomous region of Inner Mongolia is expected to experience a s...Read More
Prices for hollow steel sections in the domestic European market were unchanged week on week on Wednesday February 27, but increases in hot rolled coil (HRC) prices will soon have a knock-on effect, market sources told Fastmarkets.For the second time in less than a month, ArcelorMittal has announced a ?,?30-per-tonne ($34) price increase for its European coil steel products and while this has not...Read More
State-owned long steel producer Emirates Steel is expecting a slowdown in the Middle East construction sector that will persist throughout 2019, chief executive officer Saeed Al-Remeithi said on Tuesday February 26.Al-Remeithi was speaking as the company released partial production results for 2018. He said that he expected the slowdown in the regional construction industry this year because of in...Read More
Arbitrage losses have put downward pressure on the Shanghai cif full-plate nickel premium, but the other Chinese nickel premiums were unchanged week on week, as were those in the United States and Europe. Chinese cif full-plate nickel premiums edged down on the basis of widened arbitrage losses European premiums remained flat across the board despite positive macroeconomic sentiment US briquettes...Read More
Domestic prices for hot-rolled coil (HRC) in Southern Europe have moved up slightly over the past week, while import prices rises have stopped, sources told Fastmarkets on Wednesday February 27.Fastmarkets' weekly price assessment for domestic HRC in Southern Europe was ?,?485-510 ($551-580) per tonne ex-works on February 27, compared with ?,?480-510 per tonne ex-works a week earlier.An Italian in...Read More
Lead's three-month price on the London Metal Exchange climbed at the close of trading on Wednesday February 27, finishing above its nearby $2,100 per tonne resistance level amid a continued draw on the LME's dwindling inventory.Total LME lead stocks were now at their lowest level in a decade, with the amount of deliverable material now down to just 61,125 tonnes. More than 40% of on-warrant materi...Read More
European prices for mesh-quality wire rod stayed flat across the continent on Wednesday February 27, with slow demand keeping prices steady and negating any effect of potential supply pressure from the European Commission's safeguard import quotas.Fastmarkets MB's weekly domestic price assessments for mesh-quality wire rod for both Northern and Southern Europe stayed at ?,?530-550 ($603-625)...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday February 27 that are worth another look.Following reports of a potential power shortage in one of China's major ferro-alloy production hubs in the second quarter of this year, market participants have downplayed any immediate impact on ferro-alloy prices in the country, saying they intend to adopt a wait-and-see stance in...Read More
Following reports of a potential power shortage in one of China's major ferro-alloy production hubs in the second quarter of this year, market participants have downplayed any immediate impact on ferro-alloy prices in the country, saying they intend to adopt a wait-and-see stance in the run up to April.The city of Ulanqab in China's autonomous region of Inner Mongolia is expected to experience a s...Read More
The merger mania sweeping the gold mining sector isn't a flash in the pan - it's likely just begun. Unless these companies want to shrink, they must continue to gobble each other up. "There is going to be a new wave of M&A as a way to grow reserves especially because organic growth is so hard to come by," said Matthew Miller, a Denver-based equity research analyst at financial research...Read More
Lead's three-month price on the London Metal Exchange climbed at the close of trading on Wednesday February 27, finishing above its nearby $2,100 per tonne resistance level amid a continued draw on the LME's dwindling inventory.Total LME lead stocks were now at their lowest level in a decade, with the amount of deliverable material now down to just 61,125 tonnes. More than 40% of on-warrant materi...Read More
Tin premiums were unchanged across the board on Tuesday February 26, with a climbing outright tin price capping spot business in Europe and the United States, while Chinese participants are yet to feel the downstream effects of this week's suspension of key tin producer Yinman Mining. European demand holds up despite Indonesian export delays US participants concerned over climbing tin price China...Read More
The London Metal Exchange has received its first application ahead of its introduction of the Registered Intermediating Brokers (RIBs) membership category, according to a note to members on Wednesday February 27.Freight brokerage firm Simpson Spence & Young (SSY) confirmed to Fastmarkets that the firm's membership is now being considered by the LME and circulated to existing members for approval....Read More
A weaker secondary aluminium market in Europe and a lack of domestic demand drove the UK secondary aluminium market down by 2.9% on Wednesday February 27. Fastmarkets assessed the price of LM24 pressure diecasting ingot on a delivered consumer works basis at ?1,380-1,440 ($1,839.18-1919.15) per tonne on Wednesday, with deals concluded toward the lower end of the range. This is the lowest pri...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Zinc ingot premiums fell to their lowest levels in eight and a half years in Antwerp and Rotterdam on Tuesday February 26 due to market sellers offloading units in reaction to tightening London Metal Exchange future price spreads. European zinc premiums drop sharply Shanghai zinc market flat South and East Asia lead markets unchanged with little buying European zinc premiums drop to 8...Read More
Tin premiums were unchanged across the board on Tuesday February 26, with a climbing outright tin price capping spot business in Europe and the United States, while Chinese participants are yet to feel the downstream effects of this week's suspension of key tin producer Yinman Mining. European demand holds up despite Indonesian export delays US participants concerned over climbing tin price China...Read More
Noranda Income Fund (NIF) forecasts higher zinc metals production and sales this year but said concentrate market conditions remain the main challenge for its processing facility. NIF, which owns the Canadian Electrolytic Zinc (CEZ) facility in the Canadian province of Quebec, expects 2019 zinc metal production and sales to be between 270,000 and 280,000 tonnes. This is up from earlier forecasts o...Read More
The London Metal Exchange has received its first application ahead of its introduction of the Registered Intermediating Brokers (RIBs) membership category, according to a note to members on Wednesday February 27.Freight brokerage firm Simpson Spence & Young (SSY) confirmed to Fastmarkets that the firm's membership is now being considered by the LME and circulated to existing members for approval....Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Wednesday February 27, with a softer US dollar index and continued optimism over US-China trade talks failing to spur consistent price rallies across the complex. That said, both copper and nickel futures have continued to hold the gains made over the last week, with the former trading near $6,500 per tonne...Read More