Troubled UK long steel producer British Steel has been placed into compulsory liquidation following an order from the UK high court, the UK official receiver, part of the UK's Insolvency Service, said on Wednesday May 22."The company in liquidation is continuing to trade and supply its customers while I consider options for the business. Staff have been paid and will continue to be employed," a st...Read More

Glencore AG has signed an agreement to supply cobalt feedstock and financing to recommission the First Cobalt refinery in Ontario, Canada.The memorandum of understanding could result in annual production of roughly 2,000-2,500 tonnes of cobalt in sulfate from the plant, which is North America's only primary cobalt refinery.Glencore will evaluate making a loan to fund the capital requirements to re...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 22.Read More

The price for rebar produced and delivered in Southern Europe remained unchanged on Wednesday May 22, amid continuing weak demand, market participants told Fastmarkets.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($559-569) per tonne delivered on Wednesday, unchanged from May 8."We are just hoping for the market to remain stable as the demand situa...Read More

The three-month copper's price on the London Metal Exchange fell by 1.3% at the close of trading on Wednesday May 22, with price pressure emerging from resurging trade tensions between the United States and China, while dollar strength is limiting commodity investment. Volumes were moderately high for the red metal by the close, totalling more than 18,000 lots traded, the most since May 13. Follow...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday May 22 that are worth another look.A consortium of commodities companies and financial institutions is planning to launch an inventory management system focused on the use of blockchain and other digital methods to manage the post-trade processing of transactions for metal commodities.The liquidation order issued by the g...Read More

The three-month copper's price on the London Metal Exchange fell by 1.3% at the close of trading on Wednesday May 22, with price pressure emerging from resurging trade tensions between the United States and China, while dollar strength is limiting commodity investment. Volumes were moderately high for the red metal by the close, totalling more than 18,000 lots traded, the most since May 13. Follow...Read More

Iron ore prices continued their uptrend on Wednesday May 22 with the Fastmarkets MB 62% Fe Iron Ore Index rising to more than $105 per tonne cfr China.MB 62% Fe Iron Ore Index: $105.78 per tonne cfr Qingdao, up by $3.75 per tonne.MB 62% Fe Pilbara Blend Fines Index: $103.97 per tonne cfr Qingdao, up by $3.75 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $108.26 per tonne cfr Qingdao, up by $2.50...Read More

Copper premiums in Shanghai dropped over the week ended on Tuesday May 21, with a slew of deals for SX-EW cathodes at low levels, while the spike in premiums in the United States may not last if key smelters return to the market.?EUR? Shanghai premiums drop down to two-year lows?EUR? US premiums pushed down while Comex copper trades at a small discount to the London Metal Exchange?EUR? European pr...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

Copper's fundamentals mean prices should be higher but much depends on the outcome of the US-China trade dispute, according to an executive at ED&F Man Capital Markets. Keith Gwozdz, vice president of metals at the LME brokerage firm, said that there are three potential outcomes when talks between the countries resume at the G20 summit of governments and central bank governors in Japan (June 28-29...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday May 22 that are worth another look.A consortium of commodities companies and financial institutions is planning to launch an inventory management system focused on the use of blockchain and other digital methods to manage the post-trade processing of transactions for metal commodities.The liquidation order issued by the g...Read More

A consortium of commodities companies and financial institutions is planning to launch an inventory management system focused on the use of blockchain and other digital methods to manage the post-trade processing of transactions for metal commodities.The system, known as Forcefield, will be supported by technology from Accenture and has backing via a memorandum of understanding from ABN Amro, Angl...Read More

The liquidation order issued by the government of Zambia, that would allow it to take control of the copper-producing assets held in the African country by global metals producer Vedanta, has sent shockwaves through the global industry.The order marked the first government takeover attempt in the country, which is Africa's second-largest copper-producing region.Customers of Konkola Copper Mines (K...Read More

Global tin premiums were unchanged in all regions we follow in the week ended Tuesday May 21, with a large backwardation in the London Metal Exchange forward spreads limiting spot business in Asian, European and North American markets. European traders wary of tighter nearby spreads  US participants report weak market  Closed import arbitrage window caps Asian tin business European prem...Read More

Spot premiums for special high-grade (SHG) zinc ingots recovered slightly in Europe after falling to historical lows last week, though an extreme backwardation on the London Metal Exchange cash/three-month spread persists. In the US, falling auto sales have dampened demand for car battery manufacturing, weakening sentiment for lead although premiums remained stable week on week.  High demand...Read More

Prices for mesh-quality wire rod in Europe continued to fall this week after a drop in finished mesh product prices, sources told Fastmarkets on Wednesday May 22.Fastmarkets' assessment of the price of domestic mesh-quality wire rod in Southern Europe was ?,?500-520 ($558-580) per tonne delivered on May 22, down by ?,?15 per tonne from ?,?515-535 per tonne on May 15."The wire rod market is very de...Read More

Domestic prices for hollow steel sections in Europe were unchanged this week as the market considered mill proposals to increase prices despite further falls in feedstock costs, sources told Fastmarkets on Wednesday May 22.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week at ?,?600-630 ($669-703) per tonn...Read More

Steel H-beam prices in Northern Europe moved downward this week although feedstock costs have begun to rise again, sources told Fastmarkets on Wednesday May 22.Fastmarkets' price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?585-615 ($653-686) per tonne delivered on May 22, down from ?,?590-620 per tonne delivered one week earlier.Beam prices remained u...Read More

The price of rebar produced and delivered in Northern Europe has remained stable week on week, but with optimism among mills returning because of the potential price rises for ferrous scrap, market participants told Fastmarkets on Wednesday May 22.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?525-545 ($586-608) per tonne delivered on May 22, unchanged from May 1...Read More