Zinc premiums crept up in Northern Europe on Tuesday March 19 after buyers were enticed by a price retreat earlier this week; lead markets were largely stable except in India where there were further drops due to a temporary surge in Iranian supply. Northern European zinc buyers are active in the spot market this week, causing premiums to narrow up. China's zinc premium softened amid a close...Read More
Tin premiums were flat across the board on Tuesday March 19, with US tin premiums continuing to face downward pressure from new market entrants, while European market participants await tangible inflows against a backdrop of Indonesian political elections and Chinese premiums keep firm amid a closed import window. US market receives discounted premiums amid slow demand Spot inactivity, supp...Read More
Norsk Hydro will restart certain rolling and extrusion operations to allow for continued deliveries to customers, a day after a cyber attack caused temporary halts on its operations, chief financial officer Eivind Kallevik said in a press release on Wednesday March 20.In an earlier press release on Tuesday, Kallevik said every unit was isolated from the company's global network to prevent the atta...Read More
Slow demand and continued negative sentiment have caused wire rod prices in the United States to edge lower while the cost of imported material remains steady, Fastmarkets AMM has learned. Fastmarkets' assessment for industrial quality (IQ) low-carbon wire rod widened downward to $38-40 per hundredweight ($760-800 per short ton) fob mill on Tuesday March 19, down from $38.25-40 per cwt previously....Read More
Crude steel production in Argentina fell by 23.75% year-on-year in February, according to figures released by national steel association Acero Argentino on Wednesday March 20.Production came to 318,200 tonnes, compared with 417,300 tonnes in the corresponding period a year earlier.February's crude steel output also declined by 14.21% from the previous month's level of 370,900 tonnes.Due to...Read More
Indian steelmakers represented by the Indian Steel Association (ISA) have urged the country's government to take immediate action to ban imports of steel products that originate in Iran, Fastmarkets has heard.According to the ISA, India imported around 65,000 tonnes of flat steel products of Iranian origin in the first two months of 2019. The material was said to have been transshipped through the...Read More
Domestic prices for hollow steel sections in Southern Europe edged up on Wednesday March 20, but are expected to match the stability seen in Northern Europe in the next few weeks, market sources told Fastmarkets.Fastmarkets' weekly domestic price assessment for commodity-size, grade-S235 square hollow sections made in Southern Europe widened upward by ?,?5 per tonne this week, to ?,?630-650 per to...Read More
Steel beam prices in the Northern European market have fallen this week following a halt in the growth of feedstock prices, sources told Fastmarkets on Wednesday March 20.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe went down by ?,?5 per tonne to ?,?610-635 ($692-721) per tonne delivered on March 20, from ?,?610-640 per tonne deliver...Read More
The price for rebar produced and delivered in Southern Europe remained flat on Wednesday March 20, after narrowing upward last week while producers continued to put pressure on prices.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?515-520 ($584-590) per tonne delivered on Wednesday, after climbing from ?,?510-520 per tonne a week ago.Prices have...Read More
The price range for rebar produced and delivered in Northern Europe stayed flat on Wednesday March 20, although higher scrap prices were adding to the pressure that suppliers exerted in negotiations.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe remained at ?,?540-550 ($613-624) per tonne delivered on Wednesday, while buying activity remained modest against the current...Read More
Stainless steel scrap prices in the United States hit a wall this week as recent growth in the London Metal Exchange's nickel cash contract cooled off, sources told Fastmarkets AMM."I have my doubts that prices will continue their upward trend, and I am not as concerned about a quick retreat to the downside either," one dealer source said. "Demand is steady, supply is not excessive and export buyi...Read More
The United States' ferrous scrap export market has continued to show resilience, with some docks raising buying prices along the East and West Coasts while container prices held steady.On the West Coast, docks raised prices by $10 per gross ton, sources confirmed, while the containerized price for an 80:20 mix of No1 and No2 heavy melting scrap (HMS) was steady at $285 per tonne fas Los Ange...Read More
Turkish steel producers have continued to stay back from the deep-sea scrap markets due to sluggish demand for finished steel and the firmness of the offers from scrap merchants, sources said on Wednesday March 20.Offers for HMS 1&2 (80:20) grade material from the United States remained at $330 per tonne cfr, but mills were not willing to pay such high prices, Fastmarkets was told.Besides, the wea...Read More
Iron ore prices fell on Wednesday March 20 after Brazilian miner Vale announced it has been given the go-ahead to restart operations at its Laranjeiras tailings dam in Minas Gerais state.MB 62% Fe Iron Ore Index: $84.30 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Pilbara Blend Fines Index: $83.42 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $86.16 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 transaction: iron oreIron oreVale, Global Ore, 170,000 tonnes of 65% Fe Iron Ore Carajas, traded at the May average of the Fastmarkets MB 65% Fe Iron Ore Index at a premium of $0.40 per tonne, laycan March 25-April 3.BHP, Global Ore, 90,000 tonnes of 62.5%...Read More
Trading in the seaborne coking coal spot market remained largely muted on Wednesday March 20 despite the emergence of slightly lower offers.A top Australian brand with a laycan of April 20-29 was sold to an end user in northern China at $212 per tonne cfr China, sources told Fastmarkets. The transaction was heard after the cut-off time for Fastmarkets' indices, and as such was not included in the...Read More
The United States' copper market was at a standstill during trading on Wednesday March 20 morning, with a stronger dollar adding pressure to the complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down 0.15 cents to $2.9215 per lb.The dollar index was trading at 96.46, up 0.07%. Over the past few sessions, the market has entered a consolida...Read More
Import prices for stainless steel in East Asia edged down again over the past week, with the downtrend in nickel contributing to a reduction in trading activity. Buyers remained in wait-and-see mode because of the nickel situation, while some sellers were willing to accept lower prices to secure more orders, sources said.Fastmarkets' weekly import price assessment for benchmark 304 stainless...Read More
Zinc's three-month price on the London Metal Exchange was higher during morning trading on Wednesday March 20, maintaining upward momentum above $2,800 per tonne amid slow zinc output in China. Total LME zinc stocks remain at their lowest level since 2008 at 58,150 tonnes, with on-warrant material at 44,200 tonnes. The three-month price reached its highest level since July 2018 at just under $2,90...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Wednesday March 20.The exceptions were copper and tin prices that were both down by 0.1%, with copper at $6,454 per tonne, compared with $6,459 per tonne at Tuesday's close. The rest were up by between 0.2% for aluminium and 0.6% for both zinc and lead. Volume was average, with 6,563 lots traded...Read More