The export market for CIS-origin hot-rolled coil and cold-rolled coil (HRC, CRC) was flat during the week ended Monday July 29 because demand remained moderate while availability was still restricted.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea, CIS, was $485-500 per tonne on Monday, widening downward by $5 per tonne week on week."There were no major bookings of HRC fr...Read More
A slump in global automotive sales in the first half of the year continues to put pressure on tungsten prices, with ammonium paratungstate (APT) and ferro-tungsten prices in Europe now falling to their lowest levels since 2017. The automotive industry is one of the key tungsten consuming sectors. Tungsten is a raw material of cemented carbide used in car body cutting tools, and reduced demand for...Read More
Three-month base metals prices traded on the London Metal Exchange universally closed down at the afternoon kerb on July 30, with a strengthened dollar complex and inflows across all metals, except zinc, exerting downward price pressure.An increasingly macro-sensitive base metals complex may be reacting to United States President Donald Trump's assertions, via social media, that current US-Sino tr...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday July 30 that are worth another look.Charge chrome prices have held at a 25-month low throughout July, highlighting the challenges South African producers are facing with rising production costs. A slump in global automotive sales in the first half of the year continues to put pressure on tungsten prices, with ammonium parat...Read More
German metals distributor Kl??ckner & Co has changed a number of positions on its management team and has appointed a new chief operating officer and chief financial officer, the company said on July 29.These changes will take effect from August 1, 2019.Jens Wegmann, who has been a member of the management board since he became COO on December 1, 2017, will leave the company on July 31.The COO rol...Read More
Charge chrome prices have held at a 25-month low throughout July, highlighting the challenges South African producers are facing with rising production costs.Fastmarkets' ferro-chrome index, 50% Cr import, $/lb contained Cr, has held at $0.72 per lb since July 5 after China's stainless steel mills slashed July tender prices amid weakening demand and ample supply.The current range is the lowest the...Read More
Three-month base metals prices traded on the London Metal Exchange universally closed down at the afternoon kerb on July 30, with a strengthened dollar complex and inflows across all metals, except zinc, exerting downward price pressure.An increasingly macro-sensitive base metals complex may be reacting to United States President Donald Trump's assertions, via social media, that current US-Sino tr...Read More
Seaborne hard coking coal prices were resilient on Tuesday July 30, underlined by the spot transactions involving premium category cargoes heard during the day. A premium low-vol hard coking coal cargo, to be loaded in the first half of September, traded at $183 per tonne cfr China, according to sources. A premium mid-vol shipment with the same loading window changed hands at $180 per tonne cfr, t...Read More
Seaborne iron ore prices rose on Tuesday July 30 on news that production restrictions on steelmakers in northern China over August are likely to be relaxed. Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $119.61 per tonne, up $1.62 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $119.53 per tonne, up $1.62 per tonne. Fastmarkets' index for iron ore 6...Read More
Fastmarkets MB has corrected its weekly price assessments for steel scrap exported from the UK, which were published incorrectly on Friday July 26. Fastmarkets' weekly price assessment for steel scrap HMS 1&2 (80:20 mix) export, fob main port UK, was originally published at $274-277 per tonne. This has now been corrected to $270-272 per tonne. Fastmarkets' weekly price assessment for steel scrap s...Read More
French multi-metals miner Eramet's Weda Bay Indonesian nickel pig iron (NPI) project, which houses an estimated 10,000-tonne deposit of laterite nickel ore, will come online in the second half of 2020.The project is being developed with Chinese stainless steel producer Tsinghan, which is undertaking all construction costs and will hold a subsequent 43% stake in the venture, and will focus on NPI p...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday July 30 that are worth another look.Charge chrome prices have held at a 25-month low throughout July, highlighting the challenges South African producers are facing with rising production costs. A slump in global automotive sales in the first half of the year continues to put pressure on tungsten prices, with ammonium parat...Read More
A summary of base metals premiums from across the globe for the week to Tuesday July 30.Please click...Read More
The accelerated ramp-up of the new Cobre Panama copper mine in the central American country has brought the start of its commercial production forward by several months to before the end of the third quarter, according to owner First Quantum Minerals.The company had previously expected to begin commercial production at the mine in Panama, which is the industry's only major greenfield project and w...Read More
The London Metal Exchange three-month zinc price increased during morning trading on Tuesday July 30, making a steady approach toward $2,500 per tonne amid broadly low turnover and continued US dollar strength. Volumes traded in the galvanizing metal were moderate as of 8:55am, but led a broadly lackluster complex with 2,200 lots exchanged. Reaching an intra-morning high of $2,488 per tonne,...Read More
In the absence of fresh economic news on Monday July 29, the early weakness in metals prices ran into dip-buying. While the base metals have not followed equities to fresh highs, far from it, the underlying supply fundamentals do seem to be providing support. While wider markets may be waiting for Wednesday's US interest rate decision, the metals are likely to wait for news on US-China trade talks...Read More
Barring those for tin, base metals prices on the Shanghai Futures Exchange were all up during the morning trading session on Tuesday July 30, with the complex benefiting from rising hope amid continuing US-China trade talks. Although it is unlikely that a deal will be struck in the near term, the fact that China and the United States are looking to prevent tensions from escalating further by retur...Read More
The United States Department of Commerce has calculated average dumping margins for imports of Mexico-origin steel reinforcing bar (rebar) at 3.65%, while leaving Deacero out of the final results, the US Federal Register showed on Wednesday July 24.The announcement followed a preliminary result published on December 11, 2018, after Commerce carried out a probe that was begun on January 11 that yea...Read More
Prices paid for flat steel imports into the United Arab Emirates and Saudi Arabia decreased in the week ended Tuesday July 30, with demand improving in the latest deals heard.Buying was strong this week in the UAE, with several new orders being placed.UAEOffers of hot-rolled coil (HRC) imports from China to the UAE came in at $500-505 per tonne cfr, but no major deals were heard.Ukraine offered si...Read More
Buyers of CIS-origin steel billet were in pessimistic mood in the last week of July because of the lack of activity in the finished steel sector during the mid-summer lull.Customers' bids fell to less than $410 per tonne fob on Tuesday July 30, varying within the range of $405-408 per tonne fob Black Sea, market sources told Fastmarkets.But mills continued to offer material within the range of $42...Read More