Domestic prices for hot-rolled coil have been recovering more slowly in Northern Europe than in the south of the region, sources told Fastmarkets on Tuesday November 26.Although some mills in the north of Europe have been offering material at relatively low prices of about ?,?415-425 per tonne ex-works, market sources believe that such prices will soon no longer be available.This is largely in lin...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday November 26 that are worth another look.The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The word "weak" was one commonly used by attendees of last week'...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 26.Please click...Read More
The three-month copper price on the London Metal Exchange moved higher at the close of trading on Tuesday November 26, breaching nearby resistance against modest turnover, while zinc futures failed to test the $2,300-per-tonne resistance level despite a 1.2% afternoon surge.Copper's underlying price closed at $5,924 per tonne in the afternoon, climbing by slightly more than 1% and i...Read More
Seaborne coking coal prices continue to trade in a range-bound manner, with participants keeping a close eye on the impact of the recent supply disruptions on market direction but not seeing them as major price drivers yet.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.70 per tonne, down $1.96 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, unchangedHard...Read More
The three-month copper price on the London Metal Exchange moved higher at the close of trading on Tuesday November 26, breaching nearby resistance against modest turnover, while zinc futures failed to test the $2,300-per-tonne resistance level despite a 1.2% afternoon surge.Copper's underlying price closed at $5,924 per tonne in the afternoon, climbing by slightly more than 1% and i...Read More
European ferro-vanadium prices continued to edge higher on improved sentiment last week, while activity in the Chinese market quietened down. Meanwhile, increased spot liquidity in the vanadium pentoxide market in Europe drove prices down.The prevailing uptrend in China's export price for ferro-vanadium was no longer apparent in the week to Thursday November 21, closely following the sta...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday November 26 that are worth another look.The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The word "weak" was one commonly used by attendees of last week'...Read More
The European Union has launched a complaint to the World Trade Organization (WTO) against Indonesian export restrictions on raw materials used in the production of stainless steel, the European Commission (EC) said on November 22.The EC claims that the restrictions unfairly limit European stainless steel producers' access to raw materials, including nickel as well as scrap, coal and coke, iron ore...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Tuesday November 26, with lead topping losses and closing in on nearby support levels. Lead's outright price was recently seen at $1,950 per tonne this morning, with just over 1,100 lots exchanged as of 9:05am London time. The metal's underlying price climbed higher during October, reaching a high of $2,262...Read More
While Wall Street climbs to record highs on optimism for a United States-China trade deal and on merger and acquisition developments, the metals at best tread water, while some head lower.Asian equities mainly stronger led by a 0.83% rise in the Australian ASX 200 index.Gold and yen trending lower, but US government bond yields are weaker - so a mixed picture for the havens. Base metalsThree-month...Read More
The word "weak" was one commonly used by attendees of last week's Cesco Asia Copper Week in Shanghai when describing their expectations for demand growth in China's downstream copper markets next year. "The automobile market is weakening - not only in China, but globally, the home appliance market is slowing and the refrigerator sector is also poor due to high inventories," one attendee from the C...Read More
Base metals prices on the Shanghai Futures Exchange consolidated lower during the morning trading session on Tuesday November 26 while market participants await more clarity on a phase one trade agreement between China and the United States.The weaker performance by the SHFE base metals relative to Monday morning comes despite the Chinese Commerce Ministry saying earlier today that top Chinese and...Read More
The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The commission made the decision to start the investigation on its own initiative, it said in its Official Journal of the European Union on November 25.In February 2018, the...Read More
European steel association Eurofer is preparing to lodge a complaint with the European Commission (EC) regarding alleged dumping of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Tuesday November 26.The complaint is likely to be in the final stages of preparation and is expected to be sent to the EC in the first quarter of 2020, according to market participants.The EC...Read More
Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to poor demand despite rebounding prices for downstream flat steel products."Demand remains lackluster because the price spread between slab and hot-rolled coil is not wide enough for re-rollers to accept," a trader in Taiwan said.Restocking activity in Southeast Asia's main HRC import market in...Read More
CIS export billet prices continued to rise on Monday November 25 after several fresh bookings from last week came to light. However, some market participants said that buying activity had begun to slow since Wednesday because customers had booked significant volumes earlier in the week.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $384 per tonne on November...Read More
China's hot-rolled coil prices slid on Tuesday November 26, with buyers not in a rush to restock amid rising supply.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($526-529) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,640-3,660 yuan per tonne, down 10-30 yuan per tonneA Shanghai-based trader said trading overall thinned on Tuesday, with losses in the futures mark...Read More
Turkish steel mills remained quiet in the deep-sea scrap markets on Tuesday November 26 with prices unchanged, according to market sources.Mills booked four deep-sea cargoes last week at steady prices. The bookings from the Baltic Sea region sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20) throughout the week ended Friday November 22.Mills are still expected to book a few more...Read More
Seaborne iron ore prices fell back below $90 per tonne cfr China on Tuesday November 26 after reclaiming the mark a day earlier, amid losses in steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.30 per tonne, down $1.62 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.33 per tonne, down $1.62 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.71 per ton...Read More