The London Metal Exchange will on February 1 introduce a reporting process that will increase transparency into levels of off-warrant stocks. The exchange announced the plans in November 2019 and aims to attract more metal back in LME sheds. It is controversial, but its passage into the LME rulebook on February 1 follows a consultation last year. Some market participants are now saying the LME sho...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 15 that are worth another look.The Chinese steelmaking industry will focus on six key areas in 2020 to maintain its structured and orderly development, China Iron & Steel Association (Cisa) chairman Gao Xiangming said in a speech at a conference last weekend.Lower Chinese production is set to fuel supply deficits in As...Read More
"Today, a new era in our trade relationship begins!" the White House tweeted and live-streamed the signing ceremony.The deal caps 18 months of tariff conflict between the world's two largest economies which has hit hundreds of billions of dollars in goods, roiled financial markets, uprooted supply chains and slowed global growth, Reuters noted.Markets closed higher yesterday in London, the US and...Read More
Lower Chinese production is set to fuel supply deficits in Asian aluminium markets in 2020, according to UC Rusal marketing head Roman Andryushin.During 2019, aluminium supply in Asia was not growing due to falling primary aluminium output in China, and this is set to continue this year, Andryushin told Fastmarkets in an interview."Several disruptions and continued reallocation of capacities still...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 15. Key drivers The prices of ferro-titanium and titanium scrap markets were steady in the second week of January, a level it has maintained since December 18. Alloy suppliers achieved higher prices in the United Kingdom compared with deals done lower in the current range in continental Europe, although trading a...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 15. Key drivers The prices of ferro-titanium and titanium scrap markets were steady in the second week of January, a level it has maintained since December 18. Alloy suppliers achieved higher prices in the United Kingdom compared with deals done lower in the current range in continental Europe, although trading a...Read More
Turkish steel producers continued to hold back from the deep-sea scrap markets in an attempt to push down prices while they struggled with weak demand and values for finished rebar, sources said on Wednesday January 15.The country's steel producers went through last week with only one deep-sea cargo bought, when a steel mill in the Marmara region booked a European cargo at an average price of $300...Read More
The Chinese steelmaking industry will focus on six key areas in 2020 to maintain its structured and orderly development, China Iron & Steel Association (Cisa) chairman Gao Xiangming said in a speech at a conference last weekend.These are meant to round out the final year of China's 13th Five-Year Plan and contribute to the stable growth and reform of the Chinese economy.1. Maintain stable, efficie...Read More
Equity investors have turned more bullish on lithium miners and processors in 2020 so far, helped by a shift in Chinese electric vehicle (EV) policy. The improved investor confidence could mean a more positive outlook on lithium pricing is developing, after a very bearish 2019. On January 11, China's minister of Ministry of Industry and Information Technology (MIIT), Miao Wei, announced there woul...Read More
Hot-rolled coil prices in the United States continued to climb due to tightened supply in the domestic market, but buyers - who believed prices were doomed to go down - seemed reluctant to accept the higher prices, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.91 per hundredweight ($618.20 per short ton) on Wednesday January 15,...Read More
Domestic prices for hot-rolled coil in Europe increased on Wednesday January 15, supported by a lack of competitive import offers and a seasonal recovery in demand, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was fairly stable at ?,?443.06 ($493.13) per tonne on Wednesday January 15, up by only ?,?0.36 per tonne from ?,?442.70 per to...Read More
European producers of heavy steel plate have increased their offer prices despite limited trading activity, sources told Fastmarkets on Wednesday January 15.Plate prices in Europe, particularly in the south where the majority of plate producers are re-rollers, have been driven upward by higher slab costs.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, wa...Read More
The domestic price of steel rebar in Northern and Southern Europe moved higher this week with mills trying to reflect the price rise in ferrous scrap in early December, which was yet to affect rebar prices, sources told Fastmarkets on Wednesday January 15. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?475-490 ($529-545) per tonne...Read More
The price of steel H-beams across Europe remained unchanged on Wednesday January 15, despite mill attempts to push through increases, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-570 ($612-634) per tonne on January 15, unchanged week on week."It's busy and there are price increases across product ranges," a distribut...Read More
Hollow steel sections prices in Europe moved up this week, following increases from producers, market sources told Fastmarkets on Wednesday January 15.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($668-701) per tonne on Wednesday, up from ?,?590-600 per tonne one week previously.Various section producers have created new pric...Read More
Turkish steel producers continued to hold back from the deep-sea scrap markets in an attempt to push down prices while they struggled with weak demand and values for finished rebar, sources said on Wednesday January 15.The country's steel producers went through last week with only one deep-sea cargo bought, when a steel mill in the Marmara region booked a European cargo at an average price of $300...Read More
The seaborne iron ore index was rangebound on Wednesday January 15 amid tepid demand from steelmakers in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $96.44 per tonne, down $0.59 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $95.48 per tonne, down $0.59 per tonne.62% Fe low-alumina fines, cfr Qingdao: $97.11 per tonne, down $0.42 per tonne.58% Fe fines high-premium, cfr Qingda...Read More
The Chinese steelmaking industry will focus on six key areas in 2020 to maintain its structured and orderly development, China Iron & Steel Association (Cisa) chairman Gao Xiangming said in a speech at a conference last weekend.These are meant to round out the final year of China's 13th Five-Year Plan and contribute to the stable growth and reform of the Chinese economy.1. Maintain stable, efficie...Read More
China's domestic rebar market was flat on Wednesday January 15 amid inactivity, though export prices moved up further on a continued strengthening of the yuan. Eastern China (Shanghai): 3,640-3,670 yuan ($528-532) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedBuyers have either suspended their business activity ahead of next week's Chinese New Year holiday or l...Read More