The price for steel slab exported from the Commonwealth of Independent States has softened by $5 per tonne week on week, amid low demand and reduced market activity because of the long Easter holiday weekend, market participants told Fastmarkets on Tuesday April 23.Fastmarkets' weekly price assessment for CIS export slab was $470-480 per tonne fob Black Sea on April 23, down from $475-485 per tonn...Read More

Rebar producers that re-roll billet in Egypt have appealed to the Egyptian government to reconsider a recently imposed safeguard duty on imports of the semi-finished product.The country's Ministry of Trade & Industry began imposing a temporary import duty of 3-15% for billet on April 15, in addition to a 25% tariff on rebar, following an investigation that began at the end of last month. The provi...Read More

The price for imported billet and rebar in the United Arab Emirates decreased this week amid continuing weak demand, sources told Fastmarkets on Tuesday April 23.Domestic rebar Local rebar producers in the UAE kept their prices unchanged for May production material, with demand expected to remain poor due to the Islamic holy month of Ramadan starting early in May. The observance of Ramadan in Musl...Read More

Rebar producers that re-roll billet in Egypt have appealed to the Egyptian government to reconsider a recently imposed safeguard duty on imports of the semi-finished product.The country's Ministry of Trade & Industry began imposing a temporary import duty of 3-15% for billet on April 15, in addition to a 25% tariff on rebar, following an investigation that began at the end of last month. The provi...Read More

China's major mills raised their daily output rates for crude steel in early April and their inventories of finished steel also increased.Members of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.96 million tonnes per day during the first 10 days of April, up 6.56% from 1.83 million tpd in late March, according to data released by the industry body late on T...Read More

A summary of base metals premiums from across the globe for the week to Tuesday April 23.Please click...Read More

The market for hot-rolled steel sheet may soften in Russia's Central Federal District around Moscow when flat steel producer ArcelorMittal Temirtau resumes shipments, sources told Fastmarkets on Tuesday April 23.Kazakhstan producer ArcelorMittal Temirtau is the largest supplier of imported flat steel products to Russia. It ceased shipments after an explosion in a gas line in November last year.Fas...Read More

The market for exports of hot-rolled coil (HRC) from the Commonwealth of Independent States (CIS) fell because of lower prices for Ukraine-origin material during the week ended Tuesday April 23.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $470-495 per tonne fob Black Sea on April 23, widening downward from $485-495 per tonne fob a week earlier.HRC offers from Ukraine fell...Read More

Europe's return to the metals market after the Easter bank holiday has failed to precipitate any significant consumption, while a further slew of weak European and United States economic data destabilized London Metal Exchange three-month contracts by the close on Tuesday April 23. The entire complex traded down by close of play but no metal was harder-hit than nickel. The metal's LME three-month...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday April 23 that are worth another look.Metal brands deliverable on the London Metal Exchange will have to comply with international standards for responsible sourcing by the end of 2020, if a consultation by the exchange is approved by market members, Fastmarkets has heard. Negative pressure arising from delays in the electri...Read More

Investing.com - Prices of safe-haven gold failed to sustain early-session gains on Tuesday, after initially rising following news that the U.S. will end Iran sanctions waivers.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.2%, at $1,275.45 per ounce by 1:33 AM ET (05:33 GMT).Prices had moved higher earlier after the White House decided...Read More

Europe's return to the metals market after the Easter bank holiday has failed to precipitate any significant consumption, while a further slew of weak European and United States economic data destabilized London Metal Exchange three-month contracts by the close on Tuesday April 23. The entire complex traded down by close of play but no metal was harder-hit than nickel. The metal's LME three-month...Read More

Comex copper prices were dragged lower on Tuesday April 23 morning in the United States, with a surging dollar and concerns over Chinese growth weighing on the base metals complex.The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down by 2 cents to $2.8815 per lb. The red metal has been unable to set a clear price direction over the past few weeks...Read More

Physical iron ore prices stayed rangebound on Tuesday April 23 while the 65% Fe derivative on the Singapore Exchange traded actively.MB 62% Fe Iron Ore Index: $94.53 per tonne cfr Qingdao, up $0.05 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.31 per tonne cfr Qingdao, up $0.05 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.88 per tonne cfr Qingdao, up $0.13 per tonne. MB 58% Fe Premiu...Read More

Despite falling to a more than 18-month low point in April, iron ore producer Ferrexpo expects pellet premiums to bounce back this year, with growing long-term demand supported by the need for increased steelmaking efficiency."We continue to believe long-term demand for pellet will be supported by [the need] for iron ore of a higher grade and in a form that reduces energy inputs, slag vo...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the period ended Tuesday April 23. The European high-carbon, low-carbon and low phosphorous ferro-chrome and Turkish lumpy chrome ore cfr Chinese ports prices were due to be assessed on Friday April 19. As this was a UK public holiday, these prices were rolled over from the previous pricing day, as per our methodology. Th...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday April 23 that are worth another look.Metal brands deliverable on the London Metal Exchange will have to comply with international standards for responsible sourcing by the end of 2020, if a consultation by the exchange is approved by market members, Fastmarkets has heard. Negative pressure arising from delays in the electri...Read More

A number of executives have left Chile's state-owned copper producer Codelco as part of a cost-cutting program, Fastmarkets understands. Ra??l de la Piedra, vice president of copper sales, and Victor P?(C)rez, most recently executive vice president of sustainable market development, are two of the most high-profile managers to leave. De la Piedra had been with the company for almost 23 years, whil...Read More

The P1020 Midwest aluminium premium in the United States fell on Tuesday April 23 to its lowest point since March 2018, with several traders offering discounts so as to move metal and weak buying interest following the Easter holiday weekend.Fastmarkets' P1020A Midwest premium assessment declined to 18.5-19 cents per lb on April 23, down by 0.5 cents from the previous assessment of 19-19.5 ce...Read More

Comex copper prices were dragged lower on Tuesday April 23 morning in the United States, with a surging dollar and concerns over Chinese growth weighing on the base metals complex.The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down by 2 cents to $2.8815 per lb. The red metal has been unable to set a clear price direction over the past few weeks...Read More