The three-month tin price on the London Metal Exchange topped the base-metals complex at the close of trading on Wednesday March 4, climbing by just over 1.4% to close at its highest level since January 23, but zinc futures failed to gather support over the afternoon.Tin's outright price on the LME closed at $16,925 per tonne, while the metal reached an intraday high of $17,160 per tonne but faile...Read More

Domestic prices for cold-rolled coil in Northern Europe have inched down under pressure from competitive import offers, sources told Fastmarkets on Wednesday March 4.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?535-560 ($596-624) per tonne on March 4, down by ?,?10 per tonne week on week from ?,?545-570 per tonne. The assessment reflected deals and achi...Read More

Here are five Fastmarkets stories you might have missed on Wednesday March 4 that are worth another look.Brazilian mining company Vale has decided to halt operations indefinitely at its Fazend??o iron ore mine in the south-eastern state of Minas Gerais, after an expansion permit was revoked in February by the local environmental development council.Market participants avoided sending aluminium fro...Read More

The novel coronavirus (2019-nCoV) is set to accelerate what the trade wars started: the diversification of global supply chains. Both events have demonstrated just how interconnected the global economy is and have provided a wake-up call to businesses worldwide that it might be time to reduce their reliance on China as the workshop of the world. Of course, that's easier said than done. China is th...Read More

Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.The epicenter of the virus is Wuhan, an important commercial hub in China that is home to 11.9 million people, including the country's largest student population. It is also a manufacturing hub, with around 500 fac...Read More

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebarEast China, domestic, grade III 16-25mm...Read More

Conversations at Fastmarkets' International Copper Conference in Amsterdam, the Netherlands, on February 26-28 revolved around the impact of the novel coronavirus (2019-nCoV) on copper production and procurement chain, as well as logistics disruptions. Coronavirus spreads to Europe The event made use of technology to enable panelists from Italy's KME, Germany's Aurubis and China's Jiangxi Copper t...Read More

For key market participants in Europe's struggling copper industry, the coronavirus (2019-nCoV) epidemic further limiting demand for products was the last thing they needed.Europe, typically, consumes 16% of all global refined copper, but endured a torrid 2019 when demand for the metal dropped significantly in several major economies.A reduced need for copper in the continent shaves yet more units...Read More

The price of alumina in China is likely to continue edging higher while refineries in the country struggle to ramp up production amid a shortage of raw materials due to the outbreak of novel coronavirus (2019-nCoV) at the beginning of the year, market sources told Fastmarkets. "Northern Chinese regions have removed almost 6 million tonnes of alumina production since the outbreak of the virus...Read More

The three-month tin price on the London Metal Exchange topped the base-metals complex at the close of trading on Wednesday March 4, climbing by just over 1.4% to close at its highest level since January 23, but zinc futures failed to gather support over the afternoon.Tin's outright price on the LME closed at $16,925 per tonne, while the metal reached an intraday high of $17,160 per tonne but faile...Read More

Seaborne coking coal prices were stable on Wednesday March 4, with trading activity muted in the spot market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.75 per tonne, up $0.36 per tonnePremium hard coking coal, cfr Jingtang: $175.86 per tonne, up $2.44 per tonneHard coking coal, fob DBCT: $145.01 per tonne, unchangedHard coking coal, cfr Jingtang: $156.50 per tonne, unchangedSeabor...Read More

Nickel premiums in China, the United States and Europe held firm in the week to Tuesday March 3, tempered by a lack of liquidity in all regions over the period.China premiums stabilized while the import arbitrage window remained firmly closedLiquidity dried up in the US - where spot trade had previously been enlivened - keeping premiums unchangedEuropean premiums held at low levels, unperturbed by...Read More

Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More

The prices of mesh-quality wire rod in the European domestic markets have widened downward slightly over the past seven days amid competition among sellers, Fastmarkets heard on Wednesday March 4.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?455-470 ($507-524) per tonne on March 4, down by ?,?5 per tonne on the low end.The corre...Read More

Domestic prices for hot-rolled coil in Northern Europe were expected to remain largely stable over the week, supported by a lack of competitive import offers and good order books at domestic steelmakers, market sources told Fastmarkets on Wednesday March 4.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.55 ($540.04) per tonne on March 4, up by only ?,...Read More

The stainless steel scrap market in the United States is not on sound footing while dealers and processors battle against a shrinking supply chain, Fastmarkets understands."Supply issues remain the key factor for stainless prices," one major dealer said, adding that the level of uncertainty had increased with the growing concerns surrounding the spread of the novel coronavirus (2019-nCoV) and Covi...Read More

Conversations at Fastmarkets' International Copper Conference in Amsterdam, the Netherlands, on February 26-28 revolved around the impact of the novel coronavirus (2019-nCoV) on copper production and procurement chain, as well as logistics disruptions. Coronavirus spreads to Europe The event made use of technology to enable panelists from Italy's KME, Germany's Aurubis and China's Jiangxi Copper t...Read More

For key market participants in Europe's struggling copper industry, the coronavirus (2019-nCoV) epidemic further limiting demand for products was the last thing they needed.Europe, typically, consumes 16% of all global refined copper, but endured a torrid 2019 when demand for the metal dropped significantly in several major economies.A reduced need for copper in the continent shaves yet more units...Read More

Premiums for lead went down in the United States over the week to Tuesday March 3 and have shown mixed fortunes globally, with opportunistic buying in India at prices lower than those available on the London Metal Exchange, albeit at reduced premium levels.Spot premiums for secondary lead in US drop to lowest since December 2016 Backwardation on LME lead contract persists Zinc premiums stable, tho...Read More

Market participants avoided sending aluminium from Southeast Asia to the United States due to weak aluminium prices on the London Metal Exchange and premiums in the US Midwest. Fastmarkets' aluminium P1020A premium, ddp US Midwest averaged $313.81 per tonne (15 cents per lb) at the midpoint in February, down from $328.24 per tonne the month before. The LME aluminium cash price traded at...Read More