Here are five Fastmarkets MB stories you might have missed on Wednesday September 4 that are worth another look.A sustained weakness in the United States' Midwest aluminium premium and increased barge freight rates pushed the estimated arbitrage between Southeast Asian warehouses and the United States to an 18-month low.Zinc premiums in Northern Europe have risen with falling zinc prices, while sp...Read More
Key data from Fastmarkets' Wednesday September 4 pricing session in Europe.Key driversThe ferro-titanium market is stable, with industry sources reporting deals done within the current price range and market attention turning to consumer tenders due in the next few weeks. Almost 120 tonnes of alloy was reported sold in the past few days, with more tonnages heard at the upper end of the latest asse...Read More
An overview of the minor metals markets and their latest price moves.Read More
Turkish steel producers have bought several deep sea cargoes from various locations at heavily reduced prices, sources told Fastmarkets on Wednesday September 4.There were three confirmed cargoes today - two from the United States and another from the United Kingdom.A steel mill in the Marmara region purchased a UK cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $250 per tonne cfr. This compa...Read More
Key data from Fastmarkets' Wednesday September 4 pricing session in Europe.Key driversThe ferro-titanium market is stable, with industry sources reporting deals done within the current price range and market attention turning to consumer tenders due in the next few weeks. Almost 120 tonnes of alloy was reported sold in the past few days, with more tonnages heard at the upper end of the latest asse...Read More
The somber trading sentiment in Asia is turning exceedingly bearish, with ferrous scrap prices plunging to levels not seen for years, market sources told Fastmarkets."It's gloom and doom all over the place. No one has anything good to say about the ferrous scrap markets at this point in time," a trading manager in Singapore told Fastmarkets.Several of the key price points in Asia have shown sharp...Read More
While lack of progress on United States-China trade talks remains ever present, the potential removal of the logjam over Hong Kong seems to be providing some cheer across markets.Europe, Japan and the US are now suffering manufacturing contraction, but there are early signs that parts of China's economy are starting to recover. Following a rebound in the Caixin manufacturing purchasing managers' i...Read More
After a period of correction that lasted for about three weeks, the price for Chinese cobalt metal has been given fresh strength by rising raw materials costs and tightened spot supply.Fastmarkets' price assessment for cobalt, 99.8% Co min, ex-works China, was 265,000-285,000 yuan per tonne (equivalent to $14.83-15.95 per lb, minus China VAT) on Wednesday September 4. This was up by 2.2% from 258,...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lbClick here...Read More
European market participants now question whether an expected domestic price rise for hot-rolled coil (HRC) will be seen, due to the emergence of competitive offers from India, sources told Fastmarkets on Wednesday September 4.Buyers had expected that transaction prices would move up in the first half of September, supported by a seasonal recovery in trading activity.But this expectation has faded...Read More
Turkey exported 463,220 tonnes of flat steel products in July 2019, according to the Turkish Statistical Institute (TUIK), down by 21.58% year on year from 590,685 tonnes exported in July 2018.The negative sentiment in the flat steel market in Europe in May, when orders for June and July shipping were placed, contributed to the decrease in exports. The United States market, however, has been pract...Read More
Hot-rolled coil prices in eastern China gained more strength on Wednesday September 4, while those in the northern region fell amid thin trading.DomesticEastern China (Shanghai): 3,670-3,690 yuan ($511-514) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,630-3,640 yuan per tonne, down 10 yuan per tonneIn Shanghai, spot prices rose after mills raised their offers in the morning amid gai...Read More
Dutch steel wire products supplier Van Merksteijn has put a temporary hold on the construction of a new integrated wire rod mill at Eemshaven in the northern Netherlands.The reasons for the decision were the fast-changing external circumstances in the past half-year, the current climate for investment in the Netherlands, and the significant economic insecurities that lie ahead, the company said on...Read More
The price of mesh-quality steel wire rod in the Northern European domestic market decreased this week because of poor demand, sources told Fastmarkets on Wednesday September 4.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?470-500 ($515-548) per tonne on Wednesday, down by ?,?10-15 per tonne.Underlying consumption of wire...Read More
The price range for steel rebar in the domestic market in Southern Europe widened downward this week with decreasing ferrous scrap prices and falling demand for exports from customers in Northern Europe, sources told Fastmarkets on Wednesday September 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?460-485 ($504-531) per tonne,...Read More
Turkish steel producers have bought several deep sea cargoes from various locations at heavily reduced prices, sources told Fastmarkets on Wednesday September 4.There were three confirmed cargoes today - two from the United States and another from the United Kingdom.A steel mill in the Marmara region purchased a UK cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $250 per tonne cfr. This compa...Read More
Seaborne iron ore prices pushed up on Wednesday September 4 after looser production restrictions were confirmed for steelmakers in Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.32 per tonne, up $2.18 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.71 per tonne, up $2.18 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.10 per tonne, up $2.30 per tonne...Read More
The somber trading sentiment in Asia is turning exceedingly bearish, with ferrous scrap prices plunging to levels not seen for years, market sources told Fastmarkets."It's gloom and doom all over the place. No one has anything good to say about the ferrous scrap markets at this point in time," a trading manager in Singapore told Fastmarkets.Several of the key price points in Asia have shown sharp...Read More
Iranian producers of steel billet and slab have taken a wait-and-see position this week amid a sharp drop in prices in the global market.No fresh indications of billet offers for foreign customers were reported on Wednesday September 4."We opened a tender and will decide on a price in several days' time, but of course we are following global trends," one producing...Read More
China's domestic rebar prices moved up slightly on Wednesday September 4 on increased buying activity amid a strengthening of the futures market.Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($507-511) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,600-3,630 yuan per tonne, widened upward by 10 yuan per tonneRebar futures experienced a strong morning and rose to a high of 3,443 y...Read More