Comex copper prices sustained a modest recovery Tuesday morning in the United States, with the market awaiting further clarity on the current trade unrest.The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched up 0.60 cents to $2.6430 per lb.While market optimism around US-China trade talks has resulted in a fairly upbeat performance in US...Read More

Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Tuesday January 8. Tin was unchanged, while the rest were down between 0.1% for copper and lead and 0.7% for aluminium, with zinc and nickel off by 0.6% and 0.5% respectively. The three-month copper price was recently quoted at $5,909 per tonne.Volume across the complex has been average with 5,0...Read More

The Tuesday Market Minute Global stocks trade higher as investors eye progress in U.S. China trade talks, but weaker-than-expected Samsung profit forecast rattles tech markets. Samsung cites softer China demand as it tees-up an 11% fall in fourth quarter sales and smaller-than-expected profits in a "stagnant and fiercely competitive smartphone market" smartphone market.European st...Read More

The penetration of nickel-cobalt-manganese (NCM) type-811 batteries into the Chinese electric vehicle (EV) industry will be quite limited in 2019, market participants have told Fastmarkets.Cost and safety are the two major hurdles facing the use of NCM811 batteries, which include nickel, cobalt and manganese in a ratio of 8:1:1. This is despite the application of China's 2018 EV subsidy policy, wh...Read More

Fastmarkets has corrected its Turkey import hot-rolled coil price, which was published incorrectly on Friday January 4.The Turkey import hot rolled coil $ per tonne cfr main port price was published in error after the market was reassessed as stable and offer prices did not change. The price has now been updated to $460-470 per tonne cfr, after it was previously published at $460-480 per tonne cfr...Read More

Fastmarkets is proposing to discontinue the SteelBenchmarker price series on March 1, 2019.Fastmarkets has price series covering all existing Benchmarker prices and in greater frequency and regional granularity. The consultation period for these discontinuations will end on February 28, 2019, with changes taking place beginning March 1, 2019. To provide feedback on this index or if...Read More

China's hot-rolled coil exporters kept offer prices high on Tuesday January 8 following stable prices in the domestic market, although overseas buyers are bidding much lower with access to cheaper goods from other countries.DomesticEastern China (Shanghai): 3,660-3,680 yuan ($534-537) per tonne, widening downward 10 yuan per tonneNorthern China (Tianjin): 3,620-3,650 yuan per tonne, up 2...Read More

European long steel buyers were quiet throughout December on uncertainties arising from the United States' various trade wars, but a European Commission quota proposal in January has offered some hope of more certainty to sellers. The EC proposal for new import quotas for steel products in Europe has finally offered some clarity on what form those quotas will take in 2019, but the US governme...Read More

Import prices for billet in the United Arab Emirates fell this week, with demand remaining poor, sources told Fastmarkets on Tuesday January 8.Domestic rebarLocal rebar producers announced reduced prices on December 20 for material to be shipped in January. The country's largest producer, Emirates Steel, was offering rebar at 1,899 dirhams ($517) per tonne, Conares Steel was offering rebar...Read More

Fastmarkets is proposing to discontinue the SteelBenchmarker price series on March 1, 2019.Fastmarkets has price series covering all existing Benchmarker prices and in greater frequency and regional granularity. The consultation period for these discontinuations will end on February 28, 2019, with changes taking place beginning March 1, 2019. To provide feedback on this index or if...Read More

Seaborne iron ore prices rose further on Tuesday January 8, edging closer to the $75-per-tonne-cfr mark.MB 62% Fe Iron Ore Index: $74.46 per tonne cfr Qingdao, up $0.95 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.60 per tonne cfr Qingdao, up $1.26 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $76.20 per tonne cfr Qingdao, up $0.90 per tonne. MB 58% Fe Premium Index: $66.61 per tonne cfr...Read More

China's ferrous futures largely trended downward during morning trading on Tuesday January 8, with the rebar, coking coal and coke contracts ending the session lower than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,496 yuan ($509.84) per tonne, down 17 yuan per tonneMay hot-rolled coil: 3,403 yuan per tonne, up 1 yuan per...Read More

Import prices for billet in the United Arab Emirates fell this week, with demand remaining poor, sources told Fastmarkets on Tuesday January 8.Domestic rebarLocal rebar producers announced reduced prices on December 20 for material to be shipped in January. The country's largest producer, Emirates Steel, was offering rebar at 1,899 dirhams ($517) per tonne, Conares Steel was offering rebar...Read More

Concern over a potential increase in slab supplies from the CIS and Asia is adding to the gloom in the global slab market, which is already reeling from weakening prices and a lack of demand in the finished flat steel sector.AsiaBearish sentiment persists in the import markets of Southeast Asia and East Asia, with buyers and sellers all expecting slab prices to remain subdued in the coming weeks.A...Read More

China's domestic rebar prices were stable on Tuesday January 8 amid a divided outlook on prices in the coming weeks and higher billet prices being negated by lower futures.Domestic Eastern China (Shanghai): 3,730-3,780 yuan ($544-551) per tonne, unchangedNorthern China (Beijing): 3,650-3,680 yuan per tonne, unchangedSpot market traders kept their prices flat as higher billet prices were...Read More

2019 is looking like one of those either/or years, where growing financial instability leads to either a 2008-style Continue...Read More

Brazilian carmakers produced 177,700 light vehicles, trucks and buses during December 2018, according to figures from national manufacturers' association Anfavea, published on Tuesday January 8.This volume was 16.80% lower than the 213,707 units produced in the corresponding period in 2017.December's figures were the lowest monthly totals since January 2017 and the principal reason why the guidanc...Read More

European long steel buyers were quiet throughout December on uncertainties arising from the United States' various trade wars, but a European Commission quota proposal in January has offered some hope of more certainty to sellers. The EC proposal for new import quotas for steel products in Europe has finally offered some clarity on what form those quotas will take in 2019, but the US governme...Read More

Turkey increased the hot-rolled coil (HRC) import duty to 6% for re-rollers from 3.5% previously, effective from January 1, 2019.The country will impose the import duty on HRC imports from re-rollers as well as tube and pipe producers. Tube and pipe producers were previously exempt from the duty discount until January 1.The duty for re-rollers was 5% until January 1, 2018, when it was reduced to 3...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