Seaborne iron ore prices edged up on Monday June 10 amid positive buying activity and gains in the futures markets.MB 62% Fe Iron Ore Index: $101.51 per tonne cfr Qingdao, up $0.91 per tonne. MB 62% Fe Pilbara Blend Fines Index: $100.31 per tonne cfr Qingdao, up $0.91 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $105.20 per tonne cfr Qingdao, up $1.16 per tonne. MB 58% Fe Premium Index: $92.61...Read More
The CIS export billet market was quiet in the first week of June with most potential customers on holidays, Fastmarkets heard on Monday June 10.But negative sentiment was spreading after the decline in import scrap prices in Turkey late last week, as well as the lack of interest among customers."Mills expected demand to pick up after [the post-Ramadan] holidays in the...Read More
Steel slab import prices in Asia fell slightly over the past week because of a slowdown in parts of Southeast Asia related to the end of Ramadan, while activity in East Asia was limited by weakness in the downstream hot-rolled coil market.Market participants in the key Southeast Asian import market of Indonesia were away on June 3-7 due the Eid al-Fitr public holiday to mark the end of the Is...Read More
China's rebar prices continued to fall on Monday June 10 in both the domestic and export markets amid declining futures and intensifying pressure to sell. Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($560-564) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, down 40-50 yuan per tonneA price drop in the billet market over the weekend, coupled falling...Read More
Russian steelmaker Metalloinvest will build a terminal for the transfer of hot-briquetted iron (HBI) and iron ore pellets at the port of Ust-Luga, the largest and deepest port on the Baltic Sea, in response to growing demand.Ust-Luga lies west of St Petersburg, on the southern shore of the Gulf of Finland, close to the Russian border with Estonia."Metalloinvest aims to satisfy the growing global d...Read More
China's finished steel exports fell in May on both a year-on-year basis as well as when compared with the preceding month. The country shipped 5.74 million tonnes of finished steel abroad last month, down 16.5% from a year earlier, according preliminary Chinese customs data released on Monday June 10.Last month's exports are also...Read More
Domestic rebar prices in Brazil fell during May as leading steelmakers battle with new participants for market share amid low domestic demand, retreating from announced price increases.Fastmarkets' domestic rebar price assessment was 2,450-2,600 Reais per tonne delivered on June 7, down from 2,600-2,720 Reais per tonne a month prior. The bottom of the price range is at its lowest for this year.Lon...Read More
European steelmakers have called for the European Commission (EC) to review its decision to liberalize its import safeguard measures by increasing quota volumes by 5% each year, Fastmarkets has learned.The current safeguard mechanism will increase the level of tariff-free quotas for each product category by 5% after each year. The first liberalization will take place on July 1, 2019 - the end of t...Read More
Key data from the pricing sessions Europe and the United States for the week-long period to Monday June 10.United States Market sources, including many buyers, agreed that the US silicon price seems to be approaching a floor after declining by at least a few cents per lb every month of 2019.The price for grade-553 silicon has remained nearly flat in thin trading, narrowing to $1.08-1.11 per...Read More
The three-month price of lead on the London Metal Exchange had gone up by the close of trading on Monday June 10, reaching an intraday high of $1,890 per tonne, while the forward spread on the LME was in its widest backwardation since April 2017.The price of lead continued to rise steadily toward the nearby resistance level of $1,900 per tonne. Despite breaking through that mark last week, it has...Read More
The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States (CIS) remained quiet on Monday June 10, with activity yet to pick up after Eid al Fitr celebrations in key destinations.Fastmarkets' weekly price assessment for HRC exports from the CIS was $475-490 per tonne fob Black Sea on June 10, narrowing upward from $470-490 per tonne fob a week...Read More
The ferro-silicon markets in Europe and the United States were stable over the week ended on Friday June 7.United States Liquidity in the market indicated that prices had not moved over the week. Sentiment in the market was weakening, which will translate into lower trade prices, sources said.Key quote"There have been few spot transactions this...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 10 that are worth another look.Fastmarkets - a leading source of pricing information for the global commodity markets - announced on Monday June 10 that it has been selected by the London Metal Exchange as its partner to develop a lithium price benchmark. The partnership will promote the uptake of a transparent and repr...Read More
The three-month price of lead on the London Metal Exchange had gone up by the close of trading on Monday June 10, reaching an intraday high of $1,890 per tonne, while the forward spread on the LME was in its widest backwardation since April 2017.The price of lead continued to rise steadily toward the nearby resistance level of $1,900 per tonne. Despite breaking through that mark last week, it has...Read More
Seaborne iron ore prices edged up on Monday June 10 amid positive buying activity and gains in the futures markets.MB 62% Fe Iron Ore Index: $101.51 per tonne cfr Qingdao, up $0.91 per tonne. MB 62% Fe Pilbara Blend Fines Index: $100.31 per tonne cfr Qingdao, up $0.91 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $105.20 per tonne cfr Qingdao, up $1.16 per tonne. MB 58% Fe Premium Index: $92.61...Read More
The London Metal Exchange is partnering with Fastmarkets to promote the uptake of a transparent and representative global lithium price, the exchange said on Monday June 10.The partnership will pave the way for the LME to launch a lithium futures contract."In recent years there has been unprecedented price volatility in the lithium market, driven particularly by explosive electric vehicle (EV) bat...Read More
Investing.com - Prices of safe-haven gold fell on Monday in Asia as market sentiment was boosted by easing global trade tensions and strong trade data out of China data.Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange, were down 1.0% at $1,332.05 per ounce by 1:15 AM ET (05:15 GMT).Market sentiment was boosted after the U.S. and Mexico struck a mig...Read More
Aggressive bids and ample supply weighed on seaborne and port prices for low-grade manganese ore in the week ending on Friday June 7. Ore prices continue fall in China Stocks in China resist rising trend Alloys stable in Europe, US The manganese alloy price in India ticks downLow-grade manganese ore prices in China fell for the ninth consecutive week, with buyers' aggressive bids driving down spot...Read More
The CIS export billet market was quiet in the first week of June with most potential customers on holidays, Fastmarkets heard on Monday June 10.But negative sentiment was spreading after the decline in import scrap prices in Turkey late last week, as well as the lack of interest among customers."Mills expected demand to pick up after [the post-Ramadan] holidays in the...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 10 that are worth another look.Fastmarkets - a leading source of pricing information for the global commodity markets - announced on Monday June 10 that it has been selected by the London Metal Exchange as its partner to develop a lithium price benchmark. The partnership will promote the uptake of a transparent and repr...Read More