Prices for hollow steel sections in the European domestic market moved down this week with market sentiment turning negative, sources told Fastmarkets on Wednesday September 25.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?585-600 ($644-660) per tonne on Wednesday, narrowing downward from ?,?585-610 per tonne one week before.There was...Read More
The price of steel rebar in the Southern European domestic market moved slightly down this week under the influence of ever-lower scrap costs, high supply levels and low export opportunities, sources told Fastmarkets on Wednesday September 25.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?455-465 ($501-512) per tonne on Wednesday,...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 25 that are worth another look.Global long steel consumption was expected to reach 851 million tonnes in 2019, up by 2.4% year on year although mounting political uncertainties such as trade wars and the UK's intended exit from the EU may soften this growth, according to steelmaker Celsa.Despite concerns of low price...Read More
While the ferro-alloys industry prepares to gather in Chicago for the annual North American Ferro-alloys conference on September 25-27, Fastmarkets outlines some of the key topics likely to dominate discussions this year. Where is the floor for ferro-vanadium prices? Ferro-vanadium prices in Chinese and European markets both hit all-time highs last year, partly because of an anticipated increase i...Read More
China Molybdenum Co (CMOC), the winner of the recent auction of ammonium paratungstate (APT) stocks formerly held by the defunct Fanya Metal Exchange, is not likely to offload the materials within the next year, market participants told Fastmarkets. CMOC won 28,336 tonnes of Fanya's APT stocks for 3.27 billion yuan ($463 million) in an auction on Tuesday September 17. Rather than casting a sh...Read More
The London Metal Exchange three-month lead price continued to rise over the day's trading on Wednesday September 25, closing up by 2.4% on the previous day at $2,107 per tonne. Market analysts attribute the increase to prevailing supply tailwinds at a time when global demand for material is forecast to grow. Nyrstar's Port Pirie smelter closure in Australia, due to take 30,000 tonnes of mater...Read More
China Molybdenum Co (CMOC), the winner of the recent auction of ammonium paratungstate (APT) stocks formerly held by the defunct Fanya Metal Exchange, is not likely to offload the materials within the next year, market participants told Fastmarkets. CMOC won 28,336 tonnes of Fanya's APT stocks for 3.27 billion yuan ($463 million) in an auction on Tuesday September 17. Rather than casting a sh...Read More
The physical iron ore markets were largely inactive on Wednesday September 25 because of a key industry conference in China and the current restrictions on that country's steelmakers.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.34 per tonne, down by $0.49 per tonne62% Fe Pilbara Blend fines, cfr Qingdao: $90.73 per tonne, down by $0.49 per tonne.62% Fe low-alumina fines, cfr Qingdao:...Read More
The London Metal Exchange three-month lead price continued to rise over the day's trading on Wednesday September 25, closing up by 2.4% on the previous day at $2,107 per tonne. Market analysts attribute the increase to prevailing supply tailwinds at a time when global demand for material is forecast to grow. Nyrstar's Port Pirie smelter closure in Australia, due to take 30,000 tonnes of mater...Read More
An overview of the minor metals markets and their latest price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 25 that are worth another look.Global long steel consumption was expected to reach 851 million tonnes in 2019, up by 2.4% year on year although mounting political uncertainties such as trade wars and the UK's intended exit from the EU may soften this growth, according to steelmaker Celsa.Despite concerns of low price...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 25.Please click...Read More
Despite concerns of low prices and poor demand, the aluminium market still has growth potential due to the automotive industry, McKinsey & Company's Benedikt Zeumer said at Fastmarkets' International Aluminium Conference held in Athens, Greece.The fastest growing underlying factor to global aluminium growth is the global automotive sector, Zeumer said. McKinsey's outlook does not indicate that the...Read More
Fastmarkets outlines some of the key topics likely to dominate discussions when participants of the battery raw materials and electric vehicle supply chain gathers in Amsterdam this week.Are cobalt buyers serious about booking early for 2020? Some discussions for cobalt supply agreements in 2020 started almost as soon as Glencore announced it would close its Mutanda mine at the end of the yea...Read More
The European low-lead tin premium moved for the first time in 15 weeks on Tuesday September 24, reflecting a combination of reduced exports amid US-imposed tariffs on steel and stagnant demand, while the latter factor kept both US and Asian premiums stable. Low-lead European premium suffers in 15% drop Illiquidity stifles US market Closed import window limits Asian business European l...Read More
Shanghai in-warehouse and cif full-plate nickel premiums dramatically swung into an unprecedented discount in the week to September 24 on persistent London Metal Exchange nickel spread backwardations and widening import arbitrage losses. China premiums hit a discount on deep spread backwardation amid frenzied offloading of material in the region European, United States premiums hold amid thin trad...Read More
Weakening automotive sales and production figures in India pushed the Indian lead premium to a new low in the week to September 24, while trade concluded higher in the Italian zinc market pushing the delivered, duty-paid premium up despite a stolid global demand picture....Read More
Global long steel consumption was expected to reach 851 million tonnes in 2019, up by 2.4% year-on-year although mounting political uncertainties such as trade wars and the UK's intended exit from the EU may soften this growth, according to steelmaker Celsa."A strong performance in construction activity in China, India and the rest of Asia will give support to long products consumption, specifical...Read More
Brazilian flat steelmakers were ready to announce to distributors an increase in their prices for early October, because of reduced competition from imported material, according to national flat steel distribution association Inda.Producers were announcing a 10% price increase to remove discounts that have been granted to domestic buyers, according to Inda president Carlos Loureiro."By October 7,...Read More
Steel H-beam prices in Europe were unchanged this week but recent feedstock price falls have caused uncertainty which is delaying further buying activity, sources told Fastmarkets on Wednesday September 25.Fastmarkets' price assessment for steel beams, domestic, delivered Northern Europe, was ?,?560-600 ($616-660) per tonne on September 25, unchanged week on week."The market is more than quiet. So...Read More