China will implement import tariffs on over 5,000 types of United States' goods starting June 1, 2019, marking an escalation in the trade war between the two countries, the government announced on May 13.Last August, China said it would apply import tariffs of 25% on a series of US metal products including zinc and copper concentrates. Yet, at that time no timetable was confirmed. Starting ne...Read More

Zinc's three-month price on the London Metal Exchange fell by more than 2% at the close of trading on Monday May 13 following the fresh inflow of more than 8,000 tonnes into LME-registered warehouses in Europe. Total on-warrant LME zinc stocks are now above 90,000 tonnes for the first time since January and are trending higher after falling to a record-low of 41,900 tonnes in March. More than 30%...Read More

The market for exports of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States (CIS) was moderate during the week ended Monday May 13, with prices falling slightly.Prices went down with lower offers being heard and deals being agreed at reduced levels.The main export markets for CIS-origin flat steel were Turkey and the Middle East-North Africa (Mena) region...Read More

Long-steel export prices from the Commonwealth of Independent States remain under pressure this week amid a lack of demand from importers and low competing offers from other export markets, Fastmarkets heard on Monday May 13.Fastmarkets MB's weekly price assessment for CIS export rebar was $460 per tonne fob Black Sea on May 13, unchanged week on week."The rebar price could drop by a further $5-10...Read More

Here are five Fastmarkets MB stories you might have missed on Monday May 13 that are worth another look.China will implement import tariffs on more than 5,000 types of goods from the United States starting June 1, 2019, marking an escalation in the trade war between the two countries, the government announced on Monday May 13. Fastmarkets reporters present 12 key things le...Read More

The International Wrought Copper Council (IWCC) has elected Dr Erwin Mayr, chief executive officer of the Wieland Group, to serve as chairman of the group, which is the international association for the copper and copper-alloy fabricating industry.Mayr succeeds Stefan Boel, formerly of Aurubis, who was the longest serving chairman in...Read More

Fastmarkets reporters present 12 key things we learned at LME Asia Week 2019 in Hong Kong during May 6-9. 1. LME is in talks with Guangdong local authority to establish warehouses in China Charles Li, chief executive officer of Hong Kong Exchanges & Clearing (HKEX), said the London Metals Exchange is in talks with the Guangdong government to pilot establishing LME warehouses in mainland China. Li...Read More

The global alumina market may tighten in the coming month after around 1.7 million tonnes of Chinese alumina production was suspended on environmental infringements this month, sources told Fastmarkets on Monday May 13. Xinfa Group has closed two production lines out of four at its Jiaokou alumina plant, removing 1.3 million tonnes per year of alumina output after the local authorities launched a...Read More

Zinc's three-month price on the London Metal Exchange fell by more than 2% at the close of trading on Monday May 13 following the fresh inflow of more than 8,000 tonnes into LME-registered warehouses in Europe. Total on-warrant LME zinc stocks are now above 90,000 tonnes for the first time since January and are trending higher after falling to a record-low of 41,900 tonnes in March. More than 30%...Read More

Fastmarkets reporters present 12 key things we learned at LME Asia Week 2019 in Hong Kong during May 6-9. 1. LME is in talks with Guangdong local authority to establish warehouses in China Charles Li, chief executive officer of Hong Kong Exchanges & Clearing (HKEX), said the London Metals Exchange is in talks with the Guangdong government to pilot establishing LME warehouses in mainland China. Li...Read More

Seaborne iron ore prices softened on Monday May 13 amid weaker steel markets and an appreciation of the United States dollar against the Chinese yuan.MB 62% Fe Iron Ore Index: $96.10 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.78 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $99.92 per tonne cfr Qingdao, down $0.58 per...Read More

Fastmarkets reporters present 12 key things we learned at LME Asia Week 2019 in Hong Kong during May 6-9. 1. LME is in talks with Guangdong local authority to establish warehouses in China Charles Li, chief executive officer of Hong Kong Exchanges & Clearing (HKEX), said the London Metals Exchange is in talks with the Guangdong government to pilot establishing LME warehouses in mainland China. Li...Read More

Turkish steel producers continued to book deep-sea scrap cargoes with the help of falling prices, sources said on Monday May 13.A steel producer in the Izmir region booked a Baltic Sea cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $286 per tonne, 12,000 tonnes of shredded at $291 per tonne and 3,000 tonnes of bonus at $296 per...Read More

Here are five Fastmarkets MB stories you might have missed on Monday May 13 that are worth another look.China will implement import tariffs on more than 5,000 types of goods from the United States starting June 1, 2019, marking an escalation in the trade war between the two countries, the government announced on Monday May 13. Fastmarkets reporters present 12 key things le...Read More

The International Copper Study Group (ICSG) has estimated that the global balance between output and consumption of refined copper will widen to a deficit of 190,000 tonnes in 2019.This forecast figure was up from an earlier forecast deficit of 65,000 tonnes, published by ICSG in October 2018, as a result of global trade uncertainty, economic weakness and static levels of mine production.The group...Read More

The global alumina market may tighten in the coming month after around 1.7 million tonnes of Chinese alumina production was suspended on environmental infringements this month, sources told Fastmarkets on Monday May 13. Xinfa Group has closed two production lines out of four at its Jiaokou alumina plant, removing 1.3 million tonnes per year of alumina output after the local authorities launched a...Read More

The International Wrought Copper Council (IWCC) has elected Dr Erwin Mayr, chief executive officer of the Wieland Group, to serve as chairman of the group, which is the international association for the copper and copper-alloy fabricating industry.Mayr succeeds Stefan Boel, formerly of Aurubis, who was the longest serving chairman in...Read More

Copper concentrates treatment and refining charges (TC/RCs) in the Asia-Pacific region continued to fall last week, attributed to copper smelters rushing to make spot purchases during LME Asia Week in a tight global concentrate market and amid a number of major refined production expansions. Fastmarkets' Asia-Pacific TC/RC index dropped to $59.60 per tonne/5.96 cents per lb on Friday May 10,...Read More

The current trading environment would support higher domestic steel prices in Brazil, but low demand and a decrease in the cost of ferrous scrap were being considered before any adjustments were announced, steelmaker Gerdau has said."We will continue to watch how consumption evolves in the country to decide whether or not to increase prices," chief executive officer Gustavo Werneck told investors...Read More

The price range for CIS export slab has narrowed downward by $5 per tonne fob week on week, amid a weak market for finished steel, Fastmarkets heard on Monday May 13.Fastmarkets' weekly price assessment for CIS export slab was $450-460 per tonne fob on May 13, down from $450-465 per tonne fob a week earlier.CIS-origin slab offers to Europe were heard at $480 per tonne fob, market participants said...Read More