Fastmarkets' minor metals team answers some of the key questions raised during our recent web seminar, discussing recent market trends in minor metals, and the factors expected to drive price moves in 2019. If you missed it, follow this link to listen to the free recording. Has smuggling affected any other metals apart from antimony? Is it only antimony that is being smuggled? It is not only antim...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday January 17 that are worth another look.China's auto sales fell last year for the first time since the 1990s, dampening expectations for steel demand in 2019 although some in the market think that there are still opportunities for steelmakers to remain profitable.The London Metal Exchange announced it will launch seven new...Read More

The copper and brass scrap markets in the United States are shifting back toward a supply-demand balance, but availability of some high-grade copper scrap items remains tight and continues to pressure spreads."Copper scrap is in a calm equilibrium... Spreads have ticked up some, but [that's] normal for the time of year," one consumer said. "[We are] are full. Metal is flowing to us well."Other con...Read More

United States-based Alcoa, the world's eighth-largest aluminium producer, has forecast a surplus of alumina in 2019 while it increases metal production across the board.There was a 600,000-tonne deficit of alumina at the end of 2018, the company said, rounding off a year of record market tightness.Fastmarkets' alumina index rocketed upward to $707.75 per tonne on April 24, 2018, the highest since...Read More

French international banking group BNP Paribas has applied for category II membership of the London Metal Exchange, according to a notice released to members on Thursday January 17.The bank's futures entity, which is based in London and trades commodity futures and...Read More

Indonesia's Gresik 300,000 tpy copper smelter has yet to resume full operations after an earlier maintenance shutdown caused by an oxygen plant issue, Fastmarkets has learned. "The oxygen plant, which is operated by the third party has resumed, but not reached full operations. Therefore, although Gresik smelter has partially resumed since the middle of December 2018, it has not returned normal ope...Read More

The Comex copper price reversed lower in the US morning on Thursday January 17 with the market unable to find solid direction amid a lack of news on trade developments between the United States and China. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents to $2.6640 per lb. "We are seeing modest losses across the metals board in relati...Read More

China's exports of unwrought aluminium and aluminium products increased by 19.8% in December 2018 compared with December 2017, but down 0.6% from November 2018, according to preliminary Chinese customs data.China exported 527,000 tonnes of unwrought aluminium and aluminium products in December, a 87,000-tonne increase from the same month of 2017 and 3,000 tonnes less than in November 2018, customs...Read More

European steel association Eurofer is concerned that the definitive measures in the European Commission's safeguard case against steel product imports will not be enough to protect the region's markets from material redirected from the United States."While we welcome this endorsement, we are nevertheless worried that the form of the final measures may undermine their intended safeguarding function...Read More

The number of new passenger car registrations in the EU decreased 8.41% year-on-year in December 2018, the European Automotive Manufacturers Association (ACEA) said on Wednesday January 16.New car sales in Europe totaled 998,503 units in December 2018, compared with 1,090,190 vehicles sold in the corresponding month of 2017."The EU passenger car market declined for the fourth month in a row. Last...Read More

The Turkish billet markets remained weak over the past seven days due to limited demand, sources said on Thursday January 17.Fastmarkets' weekly price assessment for domestic billet in Turkey was $416-425 per tonne ex-works, slightly widened down from last week's $420-425 per tonne.Long steel producer Kardemir opened its domestic billet sales at...Read More

Domestic rebar and wire rod prices in Turkey have continued to weaken in line with the poor demand over the past seven days, sources told Fastmarkets on Thursday January 17.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY2,800-2,830 ($519-525) per tonne ex-works on Thursday, down from last week's TRY2,880-2,930 per tonne, including 18% VAT.The local rebar price in...Read More

Turkish steel producers have resumed their deep-sea scrap purchases for January-February at higher prices, sources said on Thursday January 17.Suppliers were seeking higher prices for their scrap because of the rise in collection costs during the difficult winter season, sources said.A steel producer in the Marmara region booked a Canadian cargo, comprising 17,000-20,000 tonnes of HMS 1&2 (90:10),...Read More

Physical iron ore buying was lackluster on Thursday January 17, despite fixed-price seaborne cargoes of Pilbara Blend fines trading at higher prices.MB 62% Fe Iron Ore Index: $74.55 per tonne cfr Qingdao, up $0.24 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.20 per tonne cfr Qingdao, up $0.75 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.92 per tonne cfr Qingdao, down $0.13 per tonne...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 oreRio Tinto, Global Ore, 190,000 tonnes of 62% Fe Pilbara Blend fines, traded late...Read More

Prices on a cfr China basis in the seaborne coking coal market picked up on Thursday January 17 following the emergence of some optimism among traders in the country.A cargo of premium mid-vol hard coking coal scheduled for loading in February was traded around $191-192 per tonne cfr China a day earlier, various sources told Fastmarkets MB during the day. This is $1-2 per tonne higher than the pre...Read More

The import price for steel billet in Southeast Asia edged down on Thursday January 17 amid lower bids from buyers who expect further price drops, although trading activity has picked up in the region this week.Fastmarkets' daily import price assessment for billet in Southeast Asia was $445-448 per tonne cfr Manila on Thursday, narrowing downward by $2 per tonne on the high end from $445-450 per to...Read More

South32 has raised the production guidance for its Illawarra metallurgical coal operations in Australia's New South Wales state during its 2019 financial year by 7%.The miner now expects to produce 6.5 million tonnes of saleable coal in the 12 months to June 30, with met coal accounting for 5.2 million tonnes of saleable...Read More

China's ferrous futures experienced a slight uptick on Thursday January 17 across the board, with steel contracts maintaining their strength from a day earlier.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,557 yuan ($526) per tonne, up 5 yuan per tonneMay hot rolled coil: 3,464 yuan per tonne, up 16 yuan per tonne Dalian Commodity Exchange May iron ore: 513 yuan p...Read More

The London Metal Exchange will launch a new cash-settled cobalt contract on March 11, settled against the benchmark standard-grade cobalt price assessed by Fastmarkets. The final settlement price will be an arithmetic average of the twice-weekly Fastmarkets standard-grade cobalt price in the expiring contract month. Fastmarkets achieved type 1 IOSCO assurance for its standard-grade cobalt price in...Read More