Key data from the Wednesday April 24 pricing session in Europe.Key drivers The European ferro-titanium and titanium scrap markets were steady in the week to Wednesday April 24, consolidating gains made early last week, when Fastmarkets reported news of a production stoppage at UK producer FE Mottram after a fire at the company's plant in Sheffield. Alloy prices were expected to move higher in the...Read More
Import prices for stainless steel in East Asia went down in the week ended Wednesday April 24 because market participants delayed purchasing decisions while waiting for more clarity about how the price of nickel would move.The three-month nickel contract on the London Metal Exchange ended the official trading session on April 23 at $12,575-12,600 per tonne, down by $490-495 per tonne week on week....Read More
Iranian export slab prices have increased on higher offers over the past week, while billet prices and demand both fell in the wake of a renewed focus on sanctions by the United States, sources told Fastmarkets.Earlier this week, US president Donald Trump announced that he would not be renewing the exemption from sanctions on Iranian oil imports granted to several countries, in...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 24.Please click...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Base metals prices on the London Metal Exchange consolidated at the close of trading on Wednesday April 24, largely unaffected by a year-to-date high in the US dollar index, while three-month tin futures continued to face downward pressure.The US dollar index, which is measured against a basket of six foreign currencies, traded at a high of 97.84 and reached its highest level since May 2017 during...Read More
The price for rebar produced and delivered in Southern Europe was unchanged over the past week, amid low market activity during the Easter holidays, market participants told Fastmarkets on Wednesday April 24.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($562-573) per tonne delivered on Wednesday, unchanged from April 17."The market is stable at that pri...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 24 that are worth another look.OM Manganese will spend as much as Australian $7.3 million ($5.2 million) to establish a manganese ore joint venture in western Australia with copper-gold-manganese explorer Bryah Resources, Fastmarkets heard on Wednesday April 24.Carmaker BMW has locked in supply of cobalt metal...Read More
Base metals prices on the London Metal Exchange consolidated at the close of trading on Wednesday April 24, largely unaffected by a year-to-date high in the US dollar index, while three-month tin futures continued to face downward pressure.The US dollar index, which is measured against a basket of six foreign currencies, traded at a high of 97.84 and reached its highest level since May 2017 during...Read More
Investing.com - Gold prices slipped on Wednesday in Asia, pressured by strong earning reports stateside and strong U.S. housing data released overnight.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.1%, at $1,271.75 per ounce by 1:40 AM ET (05:40 GMT).A wave of better-than-expected earnings results from U.S.-listed companies including...Read More
The Comex copper price inched higher in US morning trading on Wednesday April 24 amid positive signs the United States and China's trade impasse could be approaching a resolution. The copper price for May settlement on the Comex division of the New York Mercantile Exchange gained 0.95 cents to reach $2.9030 per lb. The red metal has been unable to set a clear price direction over the past few week...Read More
Import prices for stainless steel in East Asia went down in the week ended Wednesday April 24 because market participants delayed purchasing decisions while waiting for more clarity about how the price of nickel would move.The three-month nickel contract on the London Metal Exchange ended the official trading session on April 23 at $12,575-12,600 per tonne, down by $490-495 per tonne week on week....Read More
Iranian export slab prices have increased on higher offers over the past week, while billet prices and demand both fell in the wake of a renewed focus on sanctions by the United States, sources told Fastmarkets.Earlier this week, US president Donald Trump announced that he would not be renewing the exemption from sanctions on Iranian oil imports granted to several countries, in...Read More
The price of hollow steel sections in both the Northern and Southern European domestic markets has remained stable this week amid heavily subdued market activity caused by the Easter holiday.The majority of market participants were absent leaving trading activity thin as a result, sources told Fastmarkets. Yet despite the stable price assessment, the market fundamentals are not perfectly balanced,...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 24 that are worth another look.OM Manganese will spend as much as Australian $7.3 million ($5.2 million) to establish a manganese ore joint venture in western Australia with copper-gold-manganese explorer Bryah Resources, Fastmarkets heard on Wednesday April 24.Carmaker BMW has locked in supply of cobalt metal...Read More
The global refined copper market logged an 8,000-tonne deficit in January 2019, extending the 390,000-tonne deficit seen for the full-year 2018 and lending some support to worldwide premiums and prices, according to data released by the International Copper Study Group.Preliminary data showed that world mine production was largely unchanged year on year in January, despite declines in Chilean...Read More
United States trade action against imports of jumbo rolls of aluminium foil from China have shown some encouraging signs in the domestic industry, the Aluminum Association said in a paper released on Tuesday April 23.Intake of the product from the Asian country declined by 64% between 2017 and 2018, with domestic production also increasing, it said.The volume of aluminium foil impor...Read More
Fastmarkets premiums held in all regions on Tuesday April 23 despite supply uncertainty from Indonesia and stocks held off-exchange. European buyers stay out of spot market. The US market is heavily supplied and spot demand is quiet over the Passover/Easter holiday. China's import window closed. European premiums hold despite falling LME tin price In Europe, Fastmarkets assessed the p...Read More
The Comex copper price inched higher in US morning trading on Wednesday April 24 amid positive signs the United States and China's trade impasse could be approaching a resolution. The copper price for May settlement on the Comex division of the New York Mercantile Exchange gained 0.95 cents to reach $2.9030 per lb. The red metal has been unable to set a clear price direction over the past few week...Read More
A large backwardation in the cash/three-month spread put pressure on global zinc markets in the week to Tuesday April 23 with premiums in Europe at their lowest levels since 2009; while in the United States, market participants are still awaiting a second-quarter boost. European zinc market falls to 2009 low. US market unchanged, participants hopeful for uptick. Chinese zinc premium fal...Read More