The tin premium in United States fell further in the week to Tuesday May 28, with headwinds arising from the supply surplus, while premiums held steady in Europe and China amid illiquid markets. Illiquid market renders flat premiums in EuropeChinese premiums flat while import window closedUS premiums dip on supply surplus, deals picking up Supply surplus in US pressurizes premiums Premiums in the...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday May 29 that are worth another look.The South African Transport and Allied Workers' Union was due to start a country-wide port strike at 17.30 local time on Wednesday May 29. Although the union claimed the action will bring South Africa's economy "to a standstill," manganese and chrome market sources said it was too early...Read More

German steelmaker ThyssenKrupp is in talks with the chief executive officer of its steel division, Andreas Goss, about his future, following news of the likely failure of its planned European flat steel joint venture with Tata Steel Europe."Since the joint venture with Tata Steel cannot be established, the task now is to make ThyssenKrupp Steel Europe fit for the future. In this context, talks are...Read More

ArcelorMittal plans further reductions to its steel output in Europe "to further align its production to current market demand," the company said on Wednesday May 29.Earlier this month, ArcelorMittal announced plans to cut output at its steelmaking facilities in Poland, to reduce production in Spain and to adjust shipments from ArcelorMittal Italia, temporarily reducing production by 3 million ton...Read More

The price for rebar produced and delivered in Southern Europe widened downward by ?,?5 ($6) per tonne on Wednesday May 29 amid continuing weak demand, market participants told Fastmarkets.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?495-510 ($553-570) per tonne delivered on Wednesday, down slightly from ?,?500-510 per tonne delivered on May 22."Domestically, th...Read More

Prices for mesh-quality wire rod in Europe have remained stable over the past week, although market participants expected a gradual price recovery after recent falls, sources told Fastmarkets on Wednesday May 29.Fastmarkets' assessment of the price of domestic mesh-quality wire rod in Southern Europe was ?,?500-520 ($559-581) per tonne delivered on May 29, unchanged from May 22, but down from $525...Read More

Steel h-beam prices in Northern Europe were assessed stable this week with market activity and feedback limited because of the Ascension Day public holiday in many northwest European countries.The public holiday is on Thursday May 30 but many sales and procurement personnel at companies buying and selling beams have taken extended leave, which has affected trading activity. Fastmarkets' price asse...Read More

Turkish deep-sea scrap import prices made a downward correction on increased supply after the recent buying spree by the country's steel mills, sources said on Wednesday May 29.A steel producer booked a Baltic Sea cargo late on May 28, comprising 25,000 tonnes of HMS 1&2 (80:20) at $306 per tonne and 1,000 tonnes of bonus at $316 per tonne cfr.As a result of this transaction, the daily scrap indic...Read More

Iron ore prices rose then fell back again on Wednesday May 29, while the 65% Fe derivative traded actively.MB 62% Fe Iron Ore Index: $106.18 per tonne cfr Qingdao, up by $0.07 per tonne.MB 62% Fe Pilbara Blend Fines Index: $104.66 per tonne cfr Qingdao, up by $0.07 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $110.13 per tonne cfr Qingdao, up by $0.61 per tonne.MB 58% Fe Premium Index: $97.99 p...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 160,000 tonnes of 65% Fe Iron Ore Carajas, traded at $121.35 per tonne cfr...Read More

Offers for seaborne coking coal cargoes retreated on Wednesday May 29 amid a weakening of demand in the market.China-bound cargoes of premium low-vol materials were heard offered about $4 per tonne lower, at around $208-211 per tonne cfr China, various sources told Fastmarkets."By right, prices should be falling quicker since trading activity has been thin despite the availability of cargoes. It i...Read More

China's domestic and export prices for rebar moved down on Wednesday May 29 on weakening demand and losses in the billet and futures markets. Domestic Eastern China (Shanghai): 3,990-4,030 yuan ($577-583) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,920-3,960 yuan per tonne, narrowed downward by 10 yuan per tonneRebar demand in the construction sector is decreasing gradually ami...Read More

The lack of decisive action in US-Sino trade talks and whispers of retaliatory tariffs between the two countries weigh heavily on the base metals complex during morning trading on Wednesday May 29. "The whole effect has made investors realize that China has not yet retaliated against the proposed rise in Trumpian tariffs, and on that, some commentators now expect the trade war radio silence from B...Read More

Copper premiums in Shanghai rose in the week ended Tuesday May 28, with a more favorable import arbitrage between London and Shanghai and limited availability of solvent extraction-electrowinning (SX-EW) cathode providing support.Elsewhere, soft demand and ample availability in Germany caused premiums there to weaken, while quiet conditions kept the US copper market flat. Premiums in Shanghai move...Read More

Key data from the Wednesday May 29 pricing session in Europe.Key drivers - The European ferro-titanium price moved down week on week, dropping on profit-taking after six weeks of stability.- Some sources reckon supply worries on production cuts should support prices at the $5-per-kg level in the near term, although others reported prices below that point for third-quarter deliveries. One dealer re...Read More

The South African Transport and Allied Workers' Union (SATAWU) will start a country-wide port strike at 17.30 local time on Wednesday May 29. Although the union claimed the action will bring South Africa's economy "to a standstill," manganese and chrome market sources said on Wednesday it is too early to assess the potential impact of the strike on the market, adding that the situation should be m...Read More

The following Fastmarkets minor metals prices changed on Wednesday May 29:Minor metalsAntimony MB free market regulus, $/tonne: $6,600-6,850 per tonne from $6,700-6,950Antimony MMTA standard grade II, $/tonne: $6,500-6,700 per tonne from $6,500-6,750Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 38,000-39,000 yuan per tonne from 39,000-40,000 yuanBismuth MB free market,...Read More

Switzerland-headquartered miner-trader Glencore has reached a long-term revolving agreement to supply Belgian battery-materials manufacturer Umicore AS with cobalt hydroxide, Glencore said on Wednesday May 29. Glencore will supply materials from its Katanga and Mutanda mining assets located in the Democratic Republic of Congo (DRC) to Umicore's cobalt refineries globally, including the Kokkola ref...Read More

Markets remain jittery while US-China trade war rhetoric escalates with the latter raising the possibility of including rare earth minerals in their trade negotiations. Equity markets have sold off and bond yields have fallen as investors move into havens.Trade war rhetoric escalatesEquites sell off on Tuesday, while Treasury yields fall furtherMarket now indicating increased likelihood of two US...Read More

Import prices for stainless steel in East Asia narrowed over the week to Wednesday May 29 after some producers raised their asking prices following the uptick in the London Metal Exchange nickel price although demand in the region remained weak.304 stainless 2mm trimmed cold-rolled coilFastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed CRC in East Asia narrowed...Read More