Steel H-beam prices in Northern Europe moved downward this week in soft trading, sources told Fastmarkets on Wednesday June 12.Fastmarkets' price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?575-605 ($651-685) per tonne delivered on Wednesday, down from ?,?585-615 per tonne delivered on June 5.One market participant reported that buyers were hesitant a...Read More
Turkish pipe export prices have gone down slightly because of imminent seasonal holiday absences and the start of a new import quota period in Europe, sources said on Wednesday June 12.Fastmarkets' monthly export price assessment for Turkey-origin EN10219-standard, grade-S235 tube, with 2mm wall thickness, fell to $560-580 per tonne fob on June 12, from $570-590 per tonne on May 8.Pipe mills in Tu...Read More
The price of rebar produced and delivered in Northern Europe narrowed upwards week on week despite the prospect of a big jump in imports of Turkish rebar next month, market participants told Fastmarkets on Wednesday June 12.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?510-525 ($577-594) per tonne delivered on June 12, compared to ?,?505-525 per June 5."We...Read More
The price range for mesh-quality wire rod in Europe has narrowed by ?,?5 per tonne at both ends over the past week, in a largely stable market, sources told Fastmarkets on Wednesday June 12.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was ?,?505-515 ($572-583) per tonne delivered on Wednesday, compared with ?,?500-520 per tonne delivered on June 5."It'...Read More
Turkish steel mills booked more cargoes as they looked to take advantage of falling prices, sources said on Wednesday June 12.A steel mill in the Iskenderun region booked a Canada-origin cargo, comprising 10,000 tonnes of shredded or HMS 1&2 (95:5), 8,000 tonnes of rail and 12,000 tonnes of plate and structural (P&S) at an average price of $305...Read More
Seaborne iron ore prices were generally rangebound on Wednesday June 12, while buying interest remained for Australian Pilbara Blend products.MB 62% Fe Iron Ore Index: $106.60 per tonne cfr Qingdao, down $0.01 per tonne. MB 62% Fe Pilbara Blend Fines Index: $105.40 per tonne cfr Qingdao, down $0.01 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $111.10 per tonne cfr Qingdao, up $1.89 per tonne....Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at...Read More
Prices of seaborne coking coal bound for China continued to weaken on Wednesday June 12 with buyers still holding back from purchasing amid a pessimistic outlook for the market.A June-loading cargo of a top Australian brand was sold to an end user in eastern China at the June average of an index at a premium of around 4% during the day, sources told Fastmarkets.A cargo of second-tier hard coking c...Read More
China's domestic rebar prices withdrew on Wednesday June 12 on lower list prices and declining futures.Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($561-567) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,790-3,840 yuan per tonne, down 10-20 yuan per tonneA few major rebar producers lowered their ex-works prices over the past two days, which put pressure on the spot market, s...Read More
Eastern China's hot-rolled coil prices retreated on Wednesday June 12 after trading thinned following a short-lived rebound a day earlier.DomesticEastern China (Shanghai): 3,830-3,840 yuan ($554-555) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,780-3,800 yuan per tonne, unchangedTrading activity fell after prices bounced back on Tuesday, tracking an overall retreat in the country's...Read More
Base metals traded on the London Metal Exchange were largely suppressed during morning trading on Wednesday June 12 amid fresh US-Sino trade tension, uninspiring Chinese economic data and a dive in the United States' equities market.The increasing unlikelihood of a meeting between Chinese President Xi and United States President Donald Trump is the overwhelming factor renewing trade tensions and e...Read More
Key data from the Wednesday June 12 pricing session in London.Key drivers- Stagnant demand forced some traders to reduce their offers to offload material. The increase on the Wuxi Stainless Steel Exchange, which boosted Chinese prices, was not enough to positively affect the European market.- Sources do not expect rebounds in the European market before...Read More
Minor metals could become the next commodities to be caught up in the trade war between the United States and China, market sources have warned. But the effects on the prices for gallium and antimony have so far been minimal.The government in Beijing has made a number of gestures suggesting that it could restrict the export of rare earths to the US.These threats have met with some skepticism among...Read More
Key data from the Wednesday June 12 pricing session in Europe.Key drivers- The European ferro-titanium price fell for the third consecutive week after six weeks of stability. - Demand has quietened after an initial bout of short-covering from mid-April when major European producer FE Mottram announced a production stoppage after a fire damaged its plant in the...Read More
The following Fastmarkets minor metals prices changed on Wednesday June 12:Minor metalsAntimony MB free market regulus, $/tonne: $6,350-6,600 per tonne from $6,500-6,700Antimony MMTA standard grade II, $/tonne: $6,200-6,450 per tonne from $6,350-6,550Cobalt MB free market alloy grade, $/lb: $15.20-15.80 per lb from $15.80-16.40Cobalt...Read More
Risk sentiment was borderline negative on the morning of Wednesday June 12 after the possibility of US President Donald Trump and China's Xi Jinping meeting later this month at the Group of Twenty (G20) Summit in Japan was dubbed extremely unlikely.Trump threatened more tariffs on Chinese imports if there is not enough progress on trade negotiations with China or if the meeting with President Xi d...Read More
The price in Europe for molybdenum oxide rose in the first half of the week ended Wednesday June 12, with a workers' strike at Molymet's Nos plant in Chile supporting sentiment in an already tightening market.Earlier in the week, workers affiliated with trade union No1 at the Nos plant, Molymet's main production unit, went on strike after rejecting the Chilean molybdenum producer's latest offer in...Read More
South African ferro-chrome producer Mogale Alloys will idle two furnaces amid low ferro-chrome prices and rising costs, owner Afarak announced on Wednesday June 12.The plant normally produces 110,000 tonnes per year of ferro-chrome. It will continue to produce 4,000 tonnes per month of plasma charge chrome and 1,400 tpm of medium carbon ferro-chrome.The news came just a few weeks after Helsinki-he...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday June 12:The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday June 12:Aluminium scrapGroup 1 pure 99% & litho: ?1,260-1,300...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Index futures were virtually unchanged following release of Weekly Jobless Claims at 8:30 AM EDT. Consensus was 217,000 versus 219,000 last week. Actual was 222,000.WTI crude oil jumped $1.83 to $52.97 per barrel after two tankers were attacked near the Strait of Hormuz.Lululemon gained $...Read More