Prices were stable and trading activity was quiet this week in the European domestic rebar markets, with participants waiting to see how prices would develop in February, sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?490-500 ($540-551) per tonne on Wednesday, unchanged week on wee...Read More
Hollow steel sections prices in Europe were unchanged this week, despite increasing feedstock costs and quickly expiring import quotas, market sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-640 ($683-705) per tonne on Wednesday, unchanged week on week.Earlier in the month, mills and...Read More
The prices of steel H-beams in Europe were unchanged on Wednesday January 29 with mills working toward further price increases in February, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-580 ($606-639) per tonne on January 29, unchanged week on week.In recent weeks, producers have achieved higher H-beam prices to...Read More
Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More
Turkish deep-sea scrap import prices declined sharply once again, following the fresh United States' cargo deal heard on Wednesday January 29.A steel mill in the Marmara region booked a cargo of 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cfr, Fastmarkets was told. This would put the HMS 1&2 (80:20) price at $272 per tonne cfr, several market sources said. The US cargo was compared with the...Read More
Seaborne coking coal market remained inactive on Wednesday January 29, with top spot buyer China on an extended New Year break due to the outbreak of the coronavirus.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchanged ...Read More
The seaborne iron ore market was muted on Wednesday January 29, although market participants lowered their estimates for physical transaction prices in response to the sharp downward movement in the Singapore Exchange's derivatives for the steelmaking raw material a day earlier. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.84 per tonne, down $6.87 per tonne62% Fe low-alumina fines, c...Read More
Southeast Asian zinc premiums increased in the week to Tuesday January 28, with improved demand boosting spot activity, while dip-buying in the region's lead market failed to move premiums. The European and United States' zinc and lead markets remained flat. US zinc and lead premiums hold with slump in London Metal Exchange lead, while zinc futures fail to incite spot consumptionThe LME lead price...Read More
Upside potential in the London Metal Exchange three-month aluminium price was capped during morning trading on Wednesday January 29, dampened by a significant 26,525-tonne fresh inflow of material into LME-approved sheds in Port Klang, Malaysia.This was tempered by a 12,600-tonne outflow at the same time, 12,450 tonnes of which left Asian warehouses, and a further 17,825-tonne fresh cancelation in...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 29.Key drivers The price range for ferro-titanium has widened over the past week with slower trading activity resulting in lower-priced deals done in Europe, while UK trading was done at around the top end of the range. The move marked the first change in the alloy price range since December 18, although the scrap markets ha...Read More
Due to the enforced extension of China's Lunar New Year holidays, Fastmarkets will roll over the following minor metals, ores and alloys price assessments on Friday January 31.MB-BI-0002 - Bismuth 99.99% Bi min, in-whs China, yuan/tonneMB-CO-0001 - Cobalt 99.8% Co min, ex-works China, yuan/tonneMB-CO-0017 - Cobalt sulfate 20.5% Co basis, exw China, yuan/tonneMB-CO-0012 - Cobalt tetroxide 72.6% Co...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening trade. Index futures were virtually unchanged following release of economic reports at 8:30 AM EST. Consensus for first estimate of fourth quarter was growth at a 2.1% annual rate, unchanged from the third quarter. Actual was 2.1%. Consensus for Weekly Jobless Claims was 215,000 versus upwardl...Read More
Aluminium premiums in Europe continued to buck the general trend in the week ended Tuesday January 28, rising further while premiums in Asia and the United States were static.Rotterdam duty-unpaid premium climbs to highest since August US Midwest premium holds at 23-month low Domestic Brazil premium edges higher Asia premiums static due to lunar new year holiday. Tight availability fuels European...Read More
The London Metal Exchange three-month nickel price hit a seven-month low at $12,550 per tonne on Tuesday January 28, precipitated by risk-off selling while the uncertainty in Asian markets mounts due to China's growing coronavirus epidemic. "All eyes have been on the underlying nickel price with the market hitting a seven-month low on the coronavirus outbreak. Funds have shifted into risk-off mode...Read More
Chilean copper content in mine production is estimated to reach 7.04 million tonnes in 2030, rising by 19.7% from 5.88 million tonnes expected in 2019, the country's copper commission Cochilco announced.Cochilco used the current project pipeline in the country as a basis for calculating production trends, it said on Monday January 27. In a bullish scenario, output could hit 8.08 million tonne...Read More
Chilean copper content in mine production is estimated to reach 7.04 million tonnes in 2030, rising by 19.7% from 5.88 million tonnes expected in 2019, the country's copper commission Cochilco announced.Cochilco used the current project pipeline in the country as a basis for calculating production trends, it said on Monday January 27. In a bullish scenario, output could hit 8.08 million tonne...Read More
Glencore have appointed Mike Westerman to the position of acting head of copper assets following the departure of Mike Ciricillo.Westerman accepts the role after having been chief operating officer of Glencore's Australian copper assets for several...Read More
Mexican steel scrap prices changed little in the week ended Friday January 24, with market participants waiting to see a clearer definition of the international price trend.Until the previous week, Mexican prices had shown consecutive price rises, but this was interrupted by a shift in the global trend for the raw material.Fastmarkets' weekly assessment of the steel scrap No1 heavy melt consumer b...Read More
The Turkish deep-sea scrap import markets have remained quiet since yesterday, with both sellers and buyers holding back from the markets, sources said on Tuesday January 28.The mills in Turkey have booked only two deep-sea cargoes in the past two weeks because of the sluggish rebar and billet markets in the country.Late on January 22, a steel mill in the Iskenderun region booked a UK cargo compri...Read More