Recent tightness in the spread of nickel prices should not be viewed as being driven by fundamentals, market participants said on Wednesday January 16, with falling physical nickel premiums representative of a well-supplied market.The London Metal Exchange's cash/three-month nickel price spread closed at a $9 per tonne contango on January 15, the tightest since May 2014 and down from $84 per tonne...Read More

Zinc's three-month price on the London Metal Exchange gained support at the close of trading on Wednesday January 16, with the rest of the complex following the upward trend amid a softer US dollar index and stable performances in US equity markets. Closing just below its nearby support level of $2,500 per tonne, zinc futures remain on the uptrend while total LME inventory continues to fall. On-wa...Read More

Global zinc and lead premiums were stable over the past week with Asian markets beginning to hold back from conducting business ahead of the Lunar New Year holiday in early February. China's import appetite was low with only some deals for bonded-warehouse cargoes  European zinc premiums flat although backwardation largely easing off  US market quiet once again  Southeast Asian lea...Read More

Comex copper prices increased on Wednesday morning in the United States amid positive tailwinds from the Chinese stimulus news.Comex copper prices increased Wednesday morning in the US amid positive tailwinds from the Chinese stimulus news.The copper price for March settlement on the Comex division of the New York Mercantile Exchange climbed 3.10 to $2.6655 per lb.On Tuesday, China signaled its in...Read More

Participants in the European physical aluminium market were offering higher premiums on Wednesday January 16 on renewed concern about whether the United States will remove its sanctions on Russian aluminium producer UC Rusal.US senators moved forward a resolution on January 15 to prevent the US Treasury from removing the sanctions on Rusal, although this resolution could still face a final vote in...Read More

The London Metal Exchange is opening a market consultation period regarding its approach to pre-trade transparency, and has suggested three possible ways to meet the requirements set out by the European Union's MiFID II regulation, it said in a note to members on Tuesday January 15.The LME has a threefold approach to trading, which involves face-to-face trading in the physical ring, LMEselect's el...Read More

View the Fastmarkets holiday pricing schedule for 2019 and 2020. Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2019 and 2020.If you have any questions about Fastmarkets' pricing calendar, please contact Fastmarkets global base metals editor Perrine Faye at perrine.faye@fastmarkets.com...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday January 16 that are worth another look.European Union member states on Wednesday January 16 voted to support proposed definitive measures in the region's safeguard case into imported steel, the European Commission said.Hebei Steel, China's largest steel mill, cut its monthly purchase price for silico-manganese for a...Read More

Wire rod prices remain flat in the United States for both domestic and imported material, although downward pressure has emerged in January from declining raw material costs and weakening demand. Fastmarkets' assessment for industrial quality low-carbon rod held at $39.25-41.25 per hundredweight ($785-825 per short ton) fob mill on Tuesday January 15, with imported wire rod steady at $74...Read More

Definitive measures in the safeguard case into imported steel in the EU "do not take into account the needs of downstream users of steel, such as the automotive sector," the European Automobile Manufacturers' Assn (ACEA) said on Wednesday January 16.The EU member states voted on Wednesday to support the proposal for definitive measures in the region's safeguard investigation into imported steel.Th...Read More

The EU member states have voted on Wednesday January 16 to support the proposal of definitive measures in the region's safeguard case into imported steel, according to the European Commission (EC).The EC will now finalise the procedure, so that the definitive measures can come into force at the start of February 2019. The measures will remain in place until July 2021.The EC notified the World Trad...Read More

The ferrous scrap export market in the United States has been active this month, with a flurry of cargoes sold to Turkey and South Korea over the past week, but the healthy demand did not provide any boosts to bulk export prices on either US coast. Five cargoes - two from the East Coast and three from the West Coast - traded to Turkey and South Korea in the past seven days. The two East Coast carg...Read More

The deep-sea scrap suppliers to Turkish steel mills were trying to increase their offer prices because collection costs were rising with the worsening winter conditions, sources said on Wednesday January 16.But Turkish steel producers were still struggling with weak demand for their finished steel products in the country's export and domestic markets."The scrap suppliers in the United States have...Read More

Mahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsSustained investment in people a big plus for consultancySPONSOREDbyrnecutAfter a prolonged bear market, Fitch analysts said they expected stronger industry investment to continue, supported by...Read More

Seaborne iron ore prices increased moderately on Wednesday January 16 amid active offering on platforms.MB 62% Fe Iron Ore Index: $74.31 per tonne cfr Qingdao, up $0.53 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.45 per tonne cfr Qingdao, up $0.53 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $76.05 per tonne cfr Qingdao, up $0.55 per tonne. MB 58% Fe Premium Index: $65.74 per tonne cfr...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 transactions: iron oreIron oreBHP, Global Ore, 90,000 tonnes of 62% Fe Newman fines, traded at $74.90 per...Read More

Trading slowed down in the seaborne coking coal spot market on Wednesday January 16 after a flurry of transactions earlier in the week."I imagine [imported coking coal prices] to be more or less stable until the Chinese New Year. A price of $190 per tonne cfr China for premium hard coking coal is definitely cheaper compared with domestic materials," a Chinese trader said.A mill source in China con...Read More

China's ferrous futures had a mixed morning on Wednesday January 16, with the steel contracts posting increases while the steelmaking raw materials ones ended the session slightly lower than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,537 yuan ($523) per tonne, up 16 yuan per tonne May hot rolled coil: 3,434 yuan per tonne, up 19 yuan per to...Read More

Base metals on the London Metal Exchange were predominantly higher during morning trading on Wednesday January 16, with a slight downturn in the US dollar index providing legroom for upward price action while nickel futures continue to gain traction. Despite being the only metal to trade in negative territory over the morning, nickel's three-month price remains elevated, trading at an intraday hig...Read More

The arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday January 16*Copper -$38.05 (258.07 yuan) Aluminium -$345.35 (-2,342.21 yuan) Zinc $55.12 (373.84 yuan) Nickel -$307.21 (2,083.55 yuan) *Metal Bulletin calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More