The Section 232 tariffs implemented in the United States in 2018 led to a sharp increase in domestic steel prices, driving the hot-rolled coil index to a nearly 10-year peak in July. But how did the tariffs impact the rest of the global supply chain? Fastmarkets' regional experts gave us answers.ChinaChina has exported less hot-rolled coil since the Section 232 tariffs took effect, but soft domest...Read More

The pig iron export market in the Commonwealth of Independent States (CIS) remained silent this week because of the new year holiday period, while buyers' mood remained bearish because of the weak scrap and final products markets.Fastmarkets' CIS export price assessment for high-manganese pig iron was $340-345 per tonne fob Black Sea on Thursday January 3, narrowing downward from $340-350 per tonn...Read More

Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday January 3, with copper futures sinking to their lowest level since June 2017, while tin's three-month price climbed to a four-month high. Topping complex volumes, with 23,800 lots changing hands, copper's three-month price closed below $5,800 per tonne for the first time since August 2018 and was th...Read More

The Turkish scrap import market was silent on Thursday January 3, with the mills staying away from scrap purchases due to sluggish finished steel demand in Turkey. Most suppliers were still on leave due to the New Year holiday, sources said.The most recent cargo booked into the country took place last weekend from the Baltic Sea, at $283 per tonne cfr for HMS 1&2...Read More

Turkish domestic long steel markets have remained weak because of limited demand, especially in the construction sector, in addition to increased material imports from Iran, sources said on Thursday January 3.Fastmarkets' weekly price assessment for Turkey domestic rebar was TRY2,800-2,850 ($522-531) per tonne ex-works on January 3, narrowing from TRY2,750-2,900 per tonne last week.The local rebar...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday January 3 that are worth another look.Fastmarkets worked to empower its customers in 2018 - a year when they had to navigate metal markets in which fundamentals were often tightening even as greater political restraints were placed on trade than for many years. A quick review of the key developments also indicate our...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday January 2 that are worth another look.The aluminium import arbitrage between the United States and Asia narrowed slightly in December due to the lower ocean-freight rates only partly offsetting the lower Midwest aluminium premiums.There will be a massive influx of copper scrap to China in the first half of this year, with mark...Read More

Anglo American's base metals division will get its own executive to run operations as part of a change to its top management team, the company said on Thursday January 3. Base metals operations, which currently function under the strategy and business division, will be separated on March 1 and run by Ruben Fernandes, the current chief executive officer of Anglo American Brasil. The miner has also...Read More

Price variations between the cobalt markets in China and internationally reached all-time highs in 2018 when China reacted to rising volumes of cobalt supply from which the overseas metal markets were somewhat protected.At times, wide differentials created appealing theoretical arbitrage opportunities for Chinese exporters, but it was the sentiment and outlook of overseas buyers that ultimate...Read More

Japanese steel plate supply is expected to remain tight in 2019 on firm demand from downstream segments, especially the key shipbuilding industry, a source at a leading Japan-based steel mill told Fastmarkets MB."Both domestic and global demand for steel plate is healthy, and we expect that there will continue to be limited supply for both local and export customers," the source said.Plate export...Read More

Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday January 3, with copper futures sinking to their lowest level since June 2017, while tin's three-month price climbed to a four-month high. Topping complex volumes, with 23,800 lots changing hands, copper's three-month price closed below $5,800 per tonne for the first time since August 2018 and was th...Read More

Comex copper suffered a third straight decline this morning in the United States to begin the New Year, with continued recession worries and equity market instability sinking the commodities complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange sank 3.15 cents to $2.5915 per lb. In macro news, concerns over global economic health have persiste...Read More

Physical iron ore prices rose on Thursday January 3 following gains in the futures and swaps markets.MB 62% Fe Iron Ore Index: $72.62 per tonne cfr Qingdao, up $0.55 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.45 per tonne cfr Qingdao, up $0.55 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.12 per tonne cfr Qingdao, up $0.12 per tonne. MB 58% Fe Premium Index: $64.14 per tonne cfr Qi...Read More

Turkish billet prices have continued to fall over the past week in line with the weak rebar and scrap markets, sources said on Thursday January 3.Fastmarkets' weekly price assessment for billet imports into Turkey was $405-425 per tonne cfr on Thursday, down from last week's $425-430 per tonne.The fall in the assessment came after a deal...Read More

Demand for flat steel in Turkey is expected to remain slow throughout January, and prices are not expected to increase because global flat steel prices are falling, market participants told Fastmarkets on Thursday January 3.Local producers have filled their order books until late February, they added.The price falls in December resulted in part from weak demand in the local market as well as the h...Read More

Treatment and refining charges (TC/RCs) for spot copper concentrates dropped at the end of December, with smelters returning to the market in earnest to pick-up tonnes after securing annual contracts.The Fastmarkets copper concentrate TC/RC index dropped to a three-and-a-half month low of $84.30 per tonne / 8.43 cents per lb on December 31.Spot terms have been inching down since the start of the m...Read More

Anglo American's base metals division will get its own executive to run operations as part of a change to its top management team, the company said on Thursday January 3. Base metals operations, which currently function under the strategy and business division, will be separated on March 1 and run by Ruben Fernandes, the current chief executive officer of Anglo American Brasil. The miner has also...Read More

Comex copper suffered a third straight decline this morning in the United States to begin the New Year, with continued recession worries and equity market instability sinking the commodities complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange sank 3.15 cents to $2.5915 per lb. In macro news, concerns over global economic health have persiste...Read More

The London Metal Exchange and its clearing entity, LME Clear, will continue their efforts to guarantee clearing services after the United Kingdom leaves the European Union in the process known as Brexit, Fastmarkets heard on Thursday January 3.This is because of an equivalence decision adopted by the European Commission that will enable the exchange to apply for third-country central counterparty...Read More

Brazil produced 48,800 tonnes of primary aluminium in November 2018, making this the lowest monthly output of the year, national aluminium association Abal's figures showed. Output in November was 26.70% lower year on year than the 66,600 tonnes produced in November 2017 and 3.40% less than the 50,500 tonnes of primary aluminium in October 2018. Monthly production in 2018 has been constantly lower...Read More