The European molybdenum markets fell in trading this week to a six-month low, with suppliers cutting their offer prices in the face of stubborn resistance among consumers against paying more.Both the alloy and oxide markets in the second week of January were at prices last seen in July 2018.Moreover, there has been an abundance of spot ferro-molybdenum available since the past quarter, as well as...Read More

Increased numbers of spot market inquiries exposed the greater availability of cobalt in Europe in the first half of the week that began on Monday January 7, with metal prices continuing to fall as a result.Standard-grade cobalt prices dropped to $24.75-26.25 per lb, in-warehouse, on January 9, from $25.75-27.25 per lb at the end of last week.Alloy-grade prices remained slightly lower on January 9...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

Key data from the Wednesday January 9 pricing session in Europe.Key driversThe market has been quiet during the first week of the calendar year, with only a small drop in ferro-titanium prices, while the price of scrap was stable. Liquidity is expected to increase throughout January.Around 110 tonnes was reported traded between $4.30 per kg and...Read More

Turkish steel mills were absent from the deep-sea market on Wednesday January 9, with no bookings recorded and no change in prices, sources told Fastmarkets. On January 8, three steel producers booked four deep-sea cargoes from the United States and Europe at steady prices and then started to watch the finished steel markets.A long steel producer in Izmir was said to be selling 50,000 tonnes...Read More

The Shanghai copper premium rose from its lowest in more than a year because of a narrowing negative import arbitrage for bringing units into China that made buying more attractive.The nearby LME forward curve switched to a solid contango as well, firming up sellers' positions globally. Shanghai cif premium rises by $3 per tonne from last Monday; bonded warehouse premium up by $5 LME cash/three-mo...Read More

The US copper price increased during midweek trading this morning in the US, amid a softer dollar and positive trade talks between the United States and China.The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 1.30 cents to $2.6690 per lb. Trade talks between the world's economic powers continued for a third consecutive day earlier this morn...Read More

Three-month base metals prices on the London Metal Exchange were stronger across the board by an average of 0.6% this morning, Wednesday January 9.Tin led the way with a 1% gain and is back over $20,000 per tonne and has an impressive double bottom in place on the chart, with lows in August and November. Lead, zinc and aluminium were all up by around 0.8%, copper was up by 0.4% at $5,959 per tonne...Read More

The Wednesday Market Minute Global stocks extend gains, with markets around the world rising past three week highs, as an extra day in U.S.-China trade talks adds to speculation the two sides are nearing a deal.Stocks and bond yields continue to defy growth concerns even as World Bank trims global GDP forecast and cautions on "bumper ride" in 2019.U.S. crude tops $50 a barrel, extending recent g...Read More

Increased numbers of spot market inquiries exposed the greater availability of cobalt in Europe in the first half of the week that began on Monday January 7, with metal prices continuing to fall as a result.Standard-grade cobalt prices dropped to $24.75-26.25 per lb, in-warehouse, on January 9, from $25.75-27.25 per lb at the end of last week.Alloy-grade prices remained slightly lower on January 9...Read More

Turkish pipe export prices have continued to fall with weak demand and lower costs for pipemaking raw materials, sources told Fastmarkets on Wednesday January 9.Steel pipe mills reduced their offers for EN10219-standard, grade-S235 tube, with 2mm wall thickness, to $570-580 per tonne fob from the $590-600 per tonne heard last month.Fastmarkets' monthly export price assessment for tube of this grad...Read More

Activity in the export market for flat steel products from the Commonwealth of Independent States (CIS) was slowly recovering from the new-year holiday silence during the week that ended on Tuesday January 8.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was unchanged at $440-460 per tonne fob Black Sea on January 8."The market remains very slow. Suppliers jus...Read More

Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday January 9 that are worth another look.Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.In the United States, the chairs of seven committees in the House of Representatives requested that the US Treasury Department delay the terminat...Read More

Steel producers in Egypt will benefit from higher steel demand and low rates of imports in 2019, George Matta, chief marketing officer of Ezz Steel, said at Fastmarkets' North Africa Steel Summit in Dubai in December.Egypt is the largest steel-consuming country in the North Africa region and, in the long term, the share of its steel consumption that is supplied by imported steel products may start...Read More

Prices for hollow steel sections in Europe remained flat on Wednesday January 9 while market participants digested the news about a revised import quota regime for the region.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at ?,?635-650 ($727-744) per tonne delivered on Wednesday.Less than 5,000 tonnes remains to be allo...Read More

Turkish steel mills were absent from the deep-sea market on Wednesday January 9, with no bookings recorded and no change in prices, sources told Fastmarkets. On January 8, three steel producers booked four deep-sea cargoes from the United States and Europe at steady prices and then started to watch the finished steel markets.A long steel producer in Izmir was said to be selling 50,000 tonnes...Read More

Physical iron ore markets weakened on Wednesday January 9 following downward corrections in futures and steel prices.MB 62% Fe Iron Ore Index: $73.90 per tonne cfr Qingdao, down $0.56 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.04 per tonne cfr Qingdao, down $0.56 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.68 per tonne cfr Qingdao, down $0.52 per tonne. MB 58% Fe Premium Index: $...Read More

China's ferrous futures largely rose during morning trading on Wednesday January 9, with only the iron ore contract dipping slightly.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,541 yuan ($516.50) per tonne, up 30 yuan per tonneMay hot-rolled coil: 3,442 yuan per tonne, up 24 yuan per tonneDalian Commodity Exchange May iron ore: 514.50 yuan per tonne, down 0.50 y...Read More

Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More