Global alumina prices have plummeted over the past two months in June and July due to poor demand and a surplus of excess cargoes in the market.Alumina prices in Western Australia, Brazil and China are all down over 15% since May and close to their lowest level in over two years. This is a stark contrast to this time last year, when alumina prices were trading close to record highs following strik...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 17.Please click...Read More
Nickel's three-month price on the London Metal Exchange continued its uptrend at the close of trading on Wednesday July 17, appreciating by 3% to surpass $14,400 per tonne and trade at its highest level in a year.The metal's futures price traded at an intraday low of $13,900 per tonne during Asian trading hours, before climbing to an intraday high of $14,460 per tonne during the European trading d...Read More
Physical iron ore prices fell backward on Wednesday July 17 amid losses in the futures market, after the Dalian Commodity Exchange (DCE) increased the cost of trading.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.27 per tonne, down by $0.88 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.19 per tonne, down by $0.88 per tonne.Fastmarkets' in...Read More
Tin premiums across all global locations were flat in the week ending Tuesday July 16, with the metal's volatile three-month price and weakening demand picture capping spot liquidity. Some say weak European demand is weighing on sales, premiums. US market illiquid; premiums hold, despite pressure from aggressive new suppliers. Weak demand kept Chinese tin premiums unchanged.Low prices, supportive...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 17 that are worth another look.China's top copper concentrate buyers are in a fix. On Thursday July 18, the historically powerful China Smelter Purchase Team will gather for a quarterly meeting that traditionally is an arena for members to share information on trade flows and maintenance schedules, and to set a quarterly...Read More
The United States could be hit with sanctions from China if countervailing duties targeting 22 Chinese goods are not recalculated after the World Trade Organization appellate body determined on Tuesday July 16 that the US violated WTO rulings with those duties.The WTO Appellate Body ruled 2-1 that the US countervailing duties were inconsistent with WTO rulings, determining that the US had not prov...Read More
China's top copper concentrate buyers are in a fix.On Thursday July 18, the historically powerful China Smelter Purchase Team (CSPT), which comprises purchasing managers from the country's 10 top-rated state-backed copper smelters, will gather in Hunchun city for their quarterly meeting.Traditionally, the forum is an arena for members to share information on trade flows and maintenance schedules,...Read More
Insurer AON and software developer Gen10 have joined Dutch bank Rabobank, international trading firm Concord Resources and warehousing firm PGS in the development of the blockchain trading platform for the metal repo financing business.Beyond Commodities will initially settle digital metal repo transactions in which aluminium stored at PGS will be sold and re-purchased by Concord to...Read More
Fastmarkets' zinc premiums in northern Europe rose in the week to Tuesday July 16 on increased spot interest, while premiums in Asia and the United States were unchanged due to muted buying appetite after the cash/three-month London Metal Exchange zinc spread swung to a backwardation. The LME cash/three-month zinc spread returned to backwardation after a short-lived contango. Northern Europe...Read More
US wire rod prices have trended downward for six straight months to hit a 16-month low, driven primarily by weak demand and high inventory levels, Fastmarkets has learned. Fastmarkets' assessment for steel wire rod (low carbon) industrial quality, fob mill US, fell to $32.50-33.50 per hundredweight ($650-670 per short ton) on Tuesday July 16, down by 4.3% from $34-35 per cwt in June and down 18% f...Read More
Russia's largest steelmaker, Novolipetsk Steel (NLMK), will increase the capacity for steel slabs at its Lipetsk facility in western Russia, the company said on Wednesday July 17.The company has started construction and installation work for a complete overhaul of continuous casting machine (CCM) No9.The overhaul will increase the machine's capacity by 80%, to 1.8 million tonnes per year of slabs,...Read More
Demand for passenger cars in Europe decreased by 7.85% year-on-year in June 2019, the European Automotive Manufacturers Association (ACEA) said on Wednesday July 17.New car sales in Europe totalled 1,446,183 units in June, compared with 1,569,363 vehicles sold in the corresponding month of 2018."To a large extent, this drop [in June] can be attributed to a negative calendar effect. On average, Jun...Read More
The price for rebar produced and delivered in Southern Europe has widened upward by ?,?5 ($6) per tonne week on week, with Italian mills intending to raise prices before the traditional August holiday period, sources told Fastmarkets on Wednesday July 17.Market activity remains low and buyers remain generally reluctant to commit to volumes, market participants said.Fastmarkets' weekly price assess...Read More
The domestic prices of hollow steel sections in Northern and Southern Europe fell this week, pressured lower by poor demand, market sources said.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-630 ($696-708) per tonne on Wednesday July 17, down from ?,?625-640 one week earlier."Some mills are decreasing capacity but it seems not to have wo...Read More
The price of mesh-quality wire rod in Southern Europe narrowed slightly upwards week on week - mills in Italy looked to raise their offers ahead of the summer slowdown, sources said on Wednesday July 17.Fastmarkets' assessment of the price of steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?475-500 ($533-562) per tonne on Wednesday, narrowing upwards week on week from ?,?...Read More
The price of domestic rebar produced and delivered in Northern Europe remained unchanged over the past week due to limitedbuying activity, sources told Fastmarkets on Wednesday July 17.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?500-520 ($562-584) per tonne on Wednesday, unchanged from one week earlier on July 10."Most market...Read More
The United States' ferrous scrap export market is enjoying momentum on the West Coast, with a pair of bulk cargoes and decent container sales concluded, while the East Coast remains quiet.From the West Coast, one cargo for an 80:20 mix of No1 and No2 heavy melting scrap was sold to Vietnam at $308 per tonne cfr on Thursday July 11 and another for the same material to Taiwan at $303...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market on Wednesday July 17, because of the sluggish finished steel demand, sources told Fastmarkets.After booking a UK cargo at $288 per tonne cfr for HMS 1&2 (80:20), the mills have stayed out of the market despite still needing to buy more cargoes for August deliveries."The steel producers in Turkey need to buy scrap for August...Read More