The tin premium in Europe softened from its highest level since January 2017 due to a market shift to longer-term supply solutions despite remaining elevated on Indonesian supply concerns, while both US and Chinese premiums held ground on steady spot business and sufficient supply. European premiums ease while market finds supply solutions US participants look to 2019 contracts China'...Read More
Fasmarkets' fob Australia alumina index declined for the eighth trading day in a row on Wednesday October 7, falling back to levels not seen since before Hydro declared force majeure at the Alunorte refinery in Brazil in April. The benchmark daily fob Australia alumina index was calculated at $428.75 per tonne on Wednesday, down from $430 per tonne on Tuesday and 8.98% lower week on week from...Read More
Key data from the Wednesday November 7 pricing session in Europe. Key drivers Recent downward trend in ferro-titanium has finally dragged down scrap prices. The trend started on September 12, when the market was assessed at $5.80-6.05 per kg.There is readily available alloy supply against moderate spot demand, with some buyers booking alloy through year-end. Some traders want rid of stocks to boo...Read More
Gwen PrestonPosted Nov 7, 2018The following is an extract of The Maven Letter: October 31, 2018Zinc bucked the downtrend for metals last week by rising to a three-week high. The benchmark price on the London Metal Exchange (LME) was US$2,700 a tonne, rising 18% from a 22-month low in August, but still down significantly from the 52-week high of US$3,610.54 per tonne. (Click on images to enlarge)Th...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob China Europe- APT, cif Rotterdam - Ferro-tungsten, in-warehouse Rotterd...Read More
Fasmarkets' fob Australia alumina index declined for the eighth trading day in a row on Wednesday October 7, falling back to levels not seen since before Hydro declared force majeure at the Alunorte refinery in Brazil in April. The benchmark daily fob Australia alumina index was calculated at $428.75 per tonne on Wednesday, down from $430 per tonne on Tuesday and 8.98% lower week on week from...Read More
Key data from the Wednesday November 7 pricing session in Europe. Key drivers Recent downward trend in ferro-titanium has finally dragged down scrap prices. The trend started on September 12, when the market was assessed at $5.80-6.05 per kg.There is readily available alloy supply against moderate spot demand, with some buyers booking alloy through year-end. Some traders want rid of stocks to boo...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday November 7 pricing session in Europe. Key drivers Recent downward trend in ferro-titanium has finally dragged down scrap prices. The trend started on September 12, when the market was assessed at $5.80-6.05 per kg.There is readily available alloy supply against moderate spot demand, with some buyers booking alloy through year-end. Some traders want rid of stocks to boo...Read More
The Wednesday Market Minute Global stocks build gains as polls project that Democrats will take control of the House of Representatives for the first time since 2010 while Republicans extend their Senate majority.U.S. dollar slides in overnight trading as "split" Congress suggests some of President Donald Trump's expansionary fiscal policies could be shut down by rival lawmakers.Asia stocks book...Read More
Turkish steel producers continued their deep-sea scrap purchases on Wednesday November 7, with prices remaining largely stable, according to market sources.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) at $330 per tonne, 3,000 tonnes of shredded at $340 per tonne and 7,000 tonnes of bonus at $345 per tonne cfr.Another steel producer in t...Read More
Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More
Long-term contracts for cobalt hydroxide supply in 2019 have been heavily weighted toward lower payables year on year, with discussions centered around increasing availability of intermediates. But the extent of the likely hydroxide surplus' impact on next year's metal market is less clear. Since last year's mating season, Glencore has announced the restart of production at Katanga in the Dem...Read More
The new round of sanctions imposed by the United States on November 5 is expected to cut Iranian steel exports further, gradually leading to lower Iranian steel output, market sources believe."Today's action includes the designation of 50 Iranian banks and their foreign and domestic subsidiaries," the US Treasury Department announced in its report on Monday, along with "the identification of more...Read More
China's hot-rolled coil prices fell further on Tuesday November 6 after sentiment was dampened by Tangshan's smaller-than-expected production cuts. DomesticEastern China (Shanghai): 4,000-4,010 yuan ($578-579) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,990-4,000 yuan per tonne, down 10 yuan per tonneShanghai's HRC prices have fallen for a 12th day, with sentiment in the market...Read More
Ferrous futures saw mild moves during Asian morning trading on Wednesday November 7 as the market absorbed more signals of lighter winter steelmaking restrictions.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,927 yuan ($566) per tonne, up 3 yuan per tonne January hot-rolled coil: 3,728 yuan per tonne, up 31 yuan per tonne Dalian Commodity Exchange January iron...Read More
The latest news and price moves to start the Asian day on Thursday November 8.Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal's price. Read more in our live futures report.Here are how prices looked at the close of trading.The latest round of sanctions imposed by the United States on November 5...Read More
Brazil's Gerdau expects international steel prices to remain at current levels throughout 2019, but is concerned about trade conflict pressure, president and chief executive officer Gustavo Werneck said on Wednesday November 7.Market fundamentals are expected to be supportive for long steel, the company's main product, due to the US Section 232 tariffs leading to increased steel prices in the Unit...Read More
Latin American steelmakers are worried about the effects of the Section 232 tariffs imposed on steel imports into the United States, as well as a diversion of steel products to the region and low-priced material from China.Increasing protectionism worldwide was one of the factors behind the slow economic growth in the region, along with currency volatility and uncertainty in Argentina, Brazil and...Read More
Turkish steel producers continued their deep-sea scrap purchases on Wednesday November 7, with prices remaining largely stable, according to market sources.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) at $330 per tonne, 3,000 tonnes of shredded at $340 per tonne and 7,000 tonnes of bonus at $345 per tonne cfr.Another steel producer in t...Read More