Tin's three-month price on the London Metal Exchange was down by around 3% during morning trading on Tuesday July 2, with market participants pondering the metal's sudden decline against sizeable volumes traded. The flurry of selling activity in tin took place mostly overnight, with the metal reaching an intra-morning high of $18,980 per tonne at around 1:10am London time, before declining to curr...Read More
Treatment charges (TCs) for lead concentrates rose in June after a price arbitrage that encouraged imports closed off, and major supplying mine Pe??asquito returned to the market after a month-long layoff.Fastmarkets assessed TCs for low-silver lead concentrates at $20-30 per tonne on Friday June 28, up from a 19-month low of $5-15 per tonne on May 31.A closed import arbitrage into China was exace...Read More
Ferro-silicon prices in China increased sharply in the week ended Friday June 28, following a steady run of five weeks, after lower output and higher futures prices encouraged suppliers to raise their offers ahead of monthly tenders from Chinese steel mills.In Europe, the market has stemmed losses after a sharp fall the week before, but prices are seen as fragile in the near term because some cons...Read More
The European and Chinese vanadium markets weakened again in the week to Friday June 28 because of subdued summer demand and low spot liquidity. China export ferro-vanadium price nudges down amid weakness in domestic, European marketsEuropean ferro-vanadium continues to fall amid limited spot activityEuropean, Chinese V2O5 prices mostly unchanged; spot activity remains scarceUS market flat amid in...Read More
The price of magnesium in Europe has fallen over the past month, reaching a fresh 2019 low amid resumed demand but continuing oversupply.Fastmarkets assessed the price of magnesium, in-warehouse Rotterdam, at $2,470-2,550 per tonne on Friday June 28, unchanged week on week on limited activity, but after two consecutive weeks of falls."Lately, there have been a lot of aggressive bids on tenders in...Read More
Cobalt prices came under pressure across the supply chain in June, facing weak seasonal demand while still finding a balance in light of upstream supply increases and changing Chinese consumption habits. Price moves In June, buyers returned to the hand-to-mouth style procurement seen in the first quarter, in anticipation of weaker prices materializing over the summer. As a result, prices came unde...Read More
The Tuesday Market Minute U.S. equity futures are set for modest opening bell as global stocks continue to grind higher following the weekend trade truce between Washington and Beijing.Risk sentiment remains cautious, however, as a brewing trade dispute over aircraft subsides threatens a fresh tariff spat between the U.S. and Europe and global factory output sinks to its lowest level s...Read More
Turkish steel mills continued their deep-sea purchases of scrap cargoes for August shipments, with prices rising further, sources said on Tuesday July 2.A steel mill in the Iskenderun region booked a Baltic Sea cargo late on July 1, comprising 29,000 tonnes of HMS 1&2 (80:20) at $297.50 per tonne and 6,000 tonnes of bonus at $307.50 per tonne cfr.The same mill booked a...Read More
A deal struck between the European Union and South America's Mercosur trading group will boost trade between the two blocs in non-ferrous metals and related products, Fastmarkets heard on Tuesday July 2.The agreement must now be ratified by both sides, but it is intended to phase out all EU duties charged on industrial goods, including metals and metal items, over a period of 10 years.In return, t...Read More
Optimism that the resumption of US-China trade talks meant a trade deal was once again on the agenda led to a relief rally in base metals prices in early trading on Monday July 1, but disappointing manufacturing purchasing managers' index (PMI) data across most regions has led to the gains being reversed.Manufacturing PMI data for Japan, China, Australia, Taiwan, South Korea, Mexico, the EU and JP...Read More
Cobalt prices came under pressure across the supply chain in June, facing weak seasonal demand while still finding a balance in light of upstream supply increases and changing Chinese consumption habits. Price moves In June, buyers returned to the hand-to-mouth style procurement seen in the first quarter, in anticipation of weaker prices materializing over the summer. As a result, prices came unde...Read More
Cobalt hydroxide payables came under continued pressure in June, hitting new lows for 2019, even as the underlying benchmark price for cobalt metal surrendered the gains made over April and May. The metal and intermediates markets have continued to move independently of one another amid a surplus and greater competition for sales of the latter, and weaker demand from the Chinese battery sector. "P...Read More
The price paid for flat steel products imported in the United Arab Emirates (UAE) and Saudi Arabia increased over the past week, while demand for materials was limited, sources said on Tuesday July 2.The increase in price for steelmaking raw materials is one of the reasons for higher prices in the steel rebar market this week.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) was...Read More
Chinese cold rolled coil and hot-dipped galvanized coil (HDG) export prices rose during the week to Tuesday July 2 on bullish market sentiment following output cuts in China's steelmaking hub of Tangshan, while demand remained weak in multiple import markets.The price of Chinese CRC and HDG had tracked gains in the upstream Chinese hot-rolled coil market over the pricing week.Fastmarkets MB's dail...Read More
China's hot-rolled coil prices plunged on Tuesday July 2 after Tangshan's local government eased up on steelmaking restrictions in the region announced just a week earlier.DomesticEastern China (Shanghai): 3,920-3,930 yuan ($569-572) per tonne, down 80-90 yuan per tonneNorthern China (Tianjin): 3,880-3,890 yuan per tonne, down 40-50 yuan per tonneA futures trader in Shanghai said that many market...Read More
Prices for imported and domestic rebar in the United Arab Emirates have increased over the past seven days, but demand was still weak, sources said on Tuesday July 2.The reason for the higher prices for rebar was increases in the prices for raw materials.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap was calculated at $292.09 per tonne cfr on July 1, compared with $273.8...Read More
China's domestic rebar prices retreated on Tuesday July 2 after Tangshan eased its steelmaking restrictions for July.Domestic Eastern China (Shanghai): 4,000-4,030 yuan ($584-588) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,950-3,980 yuan per tonne, narrowed downward by 10 yuan per tonneChina's steel production hub in the northern region released a notice on Tuesday detailing l...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More
Turkish steel mills continued their deep-sea purchases of scrap cargoes for August shipments, with prices rising further, sources said on Tuesday July 2.A steel mill in the Iskenderun region booked a Baltic Sea cargo late on July 1, comprising 29,000 tonnes of HMS 1&2 (80:20) at $297.50 per tonne and 6,000 tonnes of bonus at $307.50 per tonne cfr.The same mill booked a...Read More
Seaborne iron ore prices continued to rise on Tuesday July 2, amid persistently tight supply and news about an easing of the restrictions on steel production in China.MB 62% Fe Iron Ore Index: $125.77 per tonne cfr China, up by $2.12 per tonneMB 62% Fe Iron Ore Index-Low Alumina: $126.24 per tonne cfr China, up by $0.48 per tonneMB 58% Fe Premium Index: $115.04 per tonne, up by $1.37 per tonneMB 6...Read More