Domestic prices for hot-rolled coil in Europe have been largely stable over the past week due to slow demand, market sources told Fastmarkets on Wednesday June 26.Domestic pricesFastmarkets' weekly price assessment for domestic HRC in Northern Europe was ?,?485-495 ($552-564) per tonne ex-works on Wednesday June 26, compared with ?,?485-500 per tonne ex-works a week earlier, reflecting transa...Read More
Cobalt metal prices continued to weaken on Wednesday June 26 with the first half of the week seeing consumers postpone all but essential buying, leaving sellers to cut their offers to entice sales. Fastmarkets' assessment of the price for standard-grade cobalt was at $13.75-14.35 per lb, in-warehouse, on Wednesday June 26, down from $13.85-14.50 per lb on June 21. Fastmarkets' assessment of the pr...Read More
Domestic prices for hollow steel sections in Northern and Southern Europe narrowed this week on a lack of imports and higher feedstock costs but this could be short lived when import quotas renew next week, sources told Fastmarkets on Wednesday June 26.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?630-640 per tonne ($717...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday June 26 that are worth another look.The Lusaka High Court in Zambia ruled on Wednesday June 26 that the appointed liquidator of Vedanta-owned Konkola Copper Mines (KCM) could not dispose of the assets, which include the country's largest copper smelter Nchanga, according to a court document seen by Fastmarkets. Aluminium...Read More
Arnaud de Weert, former chief executive officer of aluminium producer Aludium, has joined metals conglomerate GFG Alliance as chief executive of upstream activities. GFG, which is the parent company of Liberty House, announced the move on Wednesday June 26. De Weert, Aludium's CEO from 2015 to 2019, will be responsible for Liberty's growing aluminium business, the company said. Prior to leading Al...Read More
A 10-week decline in low-grade manganese ore prices stalled on Friday June 21 and Chinese port ore prices have been rebounding dramatically from 2019 lows reached in early June. Fastmarkets' 37% manganese ore index, cif Tianjin held at $5.26 per dry metric tonne unit (dmtu) on Friday. Fastmarkets' China port index for 37% manganese ore increased by 2.30 yuan to 47.50 yuan per dmtu (equiv...Read More
The three-month nickel price on the London Metal Exchange rallied at the close of trading on Wednesday June 26, climbing by 1.4% to close at its highest level since April amid a continued drawdown in the LME's dwindling supply. The nickel price closed trading at $12,490 per tonne, climbing from an intraday low of $12,235 per tonne while total volumes traded breached 10,000 lots for the first time...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 26.Please click...Read More
China's rebar prices were unchanged on Wednesday June 26 amid softer spot demand and a slight rise in the futures market. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, unchangedNorthern China (Beijing): 3,770-3,800 yuan per tonne, unchangedRebar futures edged up during the day but failed to push up spot prices.Continual rain in eastern China this week dampened end-user...Read More
The three-month nickel price on the London Metal Exchange rallied at the close of trading on Wednesday June 26, climbing by 1.4% to close at its highest level since April amid a continued drawdown in the LME's dwindling supply. The nickel price closed trading at $12,490 per tonne, climbing from an intraday low of $12,235 per tonne while total volumes traded breached 10,000 lots for the first time...Read More
The price of mesh-quality wire rod in Europe fell by ?,?5 per tonne week on week following the drop in ferrous scrap prices, sources told Fastmarkets on Wednesday June 26.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was ?,?500-510 ($569-581) per tonne delivered on Wednesday, down from ?,?505-515 per tonne delivered on June 19.Fastmarkets' daily Turkish...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday June 26 that are worth another look.The Lusaka High Court in Zambia ruled on Wednesday June 26 that the appointed liquidator of Vedanta-owned Konkola Copper Mines (KCM) could not dispose of the assets, which include the country's largest copper smelter Nchanga, according to a court document seen by Fastmarkets. Aluminium...Read More
Continued tin flows onto the London Metal Exchange, up 50% this month, exerted downward pressure on global premiums in the week to Tuesday June 25. An eroding backwardation in exchange forward spreads makes stockholders uncertain whether to hold or sell tin. US premium holds, but reports of declining demand echo other regions. China premium unchanged with no incentive for traders to i...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 26.Please click...Read More
A continued backwardated exchange price and tepid demand for zinc led to falling premiums for special high-grade (SHG) zinc ingots in Asia and Europe this week. The Shanghai seaborne market is down to the lowest levels in Fastmarkets historical data, while Europe is just $5 per tonne away that same record. Shanghai zinc premiums at record lows Exchange stocks rising on LME and SHFE&nbs...Read More
Arnaud de Weert, former chief executive officer of aluminium producer Aludium, has joined metals conglomerate GFG Alliance as chief executive of upstream activities. GFG, which is the parent company of Liberty House, announced the move on Wednesday June 26. De Weert, Aludium's CEO from 2015 to 2019, will be responsible for Liberty's growing aluminium business, the company said. Prior to leading Al...Read More
European nickel premiums climbed in the week to Tuesday June 25 due to tightening availability after some supply was diverted to China, while the import arbitrage window in China closed late last week causing regional premiums to fall. Arbitrage loss sends both Chinese nickel premiums down European premiums rise with some supply being diverted to Asia US briquette premiums slid on lac...Read More
Steel H-beam prices in Northern Europe inched up this week after a string of losses, while Southern European prices dipped for the first time in three weeks, sources told Fastmarkets on Wednesday June 26.Fastmarkets' price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?575-610 ($654-695) per tonne delivered on Wednesday June 26, up from ?,?570-605 per to...Read More
European steelmakers have called on the European Commission (EC) to "retroactively remove" the 5% quota volume liberalization of its import safeguard measures, among other requests to ease pressure on the domestic steel industry.The current safeguard mechanism will increase the level of tariff-free quotas for each product category by 5% after each year. The first liberalization will take place on...Read More
A 10-week decline in low-grade manganese ore prices stalled on Friday June 21 and Chinese port ore prices have been rebounding dramatically from 2019 lows reached in early June. Fastmarkets' 37% manganese ore index, cif Tianjin held at $5.26 per dry metric tonne unit (dmtu) on Friday. Fastmarkets' China port index for 37% manganese ore increased by 2.30 yuan to 47.50 yuan per dmtu (equiv...Read More