Domestic rebar prices in Brazil fell during May as leading steelmakers battle with new participants for market share amid low domestic demand, retreating from announced price increases.Fastmarkets' domestic rebar price assessment was 2,450-2,600 Reais per tonne delivered on June 7, down from 2,600-2,720 Reais per tonne a month prior. The bottom of the price range is at its lowest for this year.Lon...Read More
European steelmakers have called for the European Commission (EC) to review its decision to liberalize its import safeguard measures by increasing quota volumes by 5% each year, Fastmarkets has learned.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 July 1, 2019 - the end of t...Read More
Key data from the pricing sessions Europe and the United States for the week-long period to Monday June 10.United States Market sources, including many buyers, agreed that the US silicon price seems to be approaching a floor after declining by at least a few cents per lb every month of 2019.The price for grade-553 silicon has remained nearly flat in thin trading, narrowing to $1.08-1.11 per...Read More
The three-month price of lead on the London Metal Exchange had gone up by the close of trading on Monday June 10, reaching an intraday high of $1,890 per tonne, while the forward spread on the LME was in its widest backwardation since April 2017.The price of lead continued to rise steadily toward the nearby resistance level of $1,900 per tonne. Despite breaking through that mark last week, it has...Read More
The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States (CIS) remained quiet on Monday June 10, with activity yet to pick up after Eid al Fitr celebrations in key destinations.Fastmarkets' weekly price assessment for HRC exports from the CIS was $475-490 per tonne fob Black Sea on June 10, narrowing upward from $470-490 per tonne fob a week...Read More
The ferro-silicon markets in Europe and the United States were stable over the week ended on Friday June 7.United States Liquidity in the market indicated that prices had not moved over the week. Sentiment in the market was weakening, which will translate into lower trade prices, sources said.Key quote"There have been few spot transactions this...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 10 that are worth another look.Fastmarkets - a leading source of pricing information for the global commodity markets - announced on Monday June 10 that it has been selected by the London Metal Exchange as its partner to develop a lithium price benchmark. The partnership will promote the uptake of a transparent and repr...Read More
The three-month price of lead on the London Metal Exchange had gone up by the close of trading on Monday June 10, reaching an intraday high of $1,890 per tonne, while the forward spread on the LME was in its widest backwardation since April 2017.The price of lead continued to rise steadily toward the nearby resistance level of $1,900 per tonne. Despite breaking through that mark last week, it has...Read More
Seaborne iron ore prices edged up on Monday June 10 amid positive buying activity and gains in the futures markets.MB 62% Fe Iron Ore Index: $101.51 per tonne cfr Qingdao, up $0.91 per tonne. MB 62% Fe Pilbara Blend Fines Index: $100.31 per tonne cfr Qingdao, up $0.91 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $105.20 per tonne cfr Qingdao, up $1.16 per tonne. MB 58% Fe Premium Index: $92.61...Read More
The London Metal Exchange is partnering with Fastmarkets to promote the uptake of a transparent and representative global lithium price, the exchange said on Monday June 10.The partnership will pave the way for the LME to launch a lithium futures contract."In recent years there has been unprecedented price volatility in the lithium market, driven particularly by explosive electric vehicle (EV) bat...Read More
Aggressive bids and ample supply weighed on seaborne and port prices for low-grade manganese ore in the week ending on Friday June 7. Ore prices continue fall in China Stocks in China resist rising trend Alloys stable in Europe, US The manganese alloy price in India ticks downLow-grade manganese ore prices in China fell for the ninth consecutive week, with buyers' aggressive bids driving down spot...Read More
The CIS export billet market was quiet in the first week of June with most potential customers on holidays, Fastmarkets heard on Monday June 10.But negative sentiment was spreading after the decline in import scrap prices in Turkey late last week, as well as the lack of interest among customers."Mills expected demand to pick up after [the post-Ramadan] holidays in the...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 10 that are worth another look.Fastmarkets - a leading source of pricing information for the global commodity markets - announced on Monday June 10 that it has been selected by the London Metal Exchange as its partner to develop a lithium price benchmark. The partnership will promote the uptake of a transparent and repr...Read More
A cooperation deal between Outotec and Baikal Mining Co for a copper concentrator and hydrometallurgical plant in Russia could add around 130,000 tonnes per year of production to an already oversupplied global refined copper market. The contract, valued at ?,?250 million ($283 million), covers the engineering of the concentrate and hydrometallurgical equipment for the new complex at Baikal's Udoka...Read More
The development plans in place at Russian nickel producer Nornickel will not be adversely affected by the resignation last year of major shareholder Oleg Deripaska, according to company president Vladimir Potanin.Russian news agency Tass reported Potanin's comments, made on Thursday June 6 on the sidelines of the St Petersburg International Economic Forum (SPIEF).Potanin and Deripaska had battled...Read More
The Chinese alumina market's material supply has not been affected by the full production stop at Xinfa Group's Jiaokou refinery and has showed no sign of tightness until now, sources told Fastmarkets.China's alumina price continued its downward trend with the highest deal heard at 3,050-3,070 yuan ($441-444) per tonne on Monday June 10, despite predictions that the domestic alumina price may rebo...Read More
Lead's three-month price on the London Metal Exchange was up by around 1% during morning trading on Monday June 10, leading a broadly mixed base metals complex amid continued concerns over global economic health. Reaching an intraday high of $1,866 per tonne over the morning, the three-month lead futures have shown little sign of dropping below the $1,800-per-tonne support level, despite trading b...Read More
Nyrstar's lead smelter at Port Pirie, Australia, will resume production at the end of June after "steam eruption" delayed the phased restart of its blast furnace, the company said this week.Nyrstar declared force majeure on contracts to supply lead from the Port Pirie smelter - which produced 160,000 tonnes of refined lead last year while in a...Read More
Global risk sentiment improved on Monday June 10 after the United States reached a last-minute trade deal with Mexico over the weekend, averting the imposition of a 5% tariff on all Mexican goods entering the US.The positive trade development has paved the way for the London Metal Exchange three-month base metals prices to recover higher this morning as investors' appetite for risk assets returns....Read More
Plate prices in the United States dropped further in the week to Friday June 7, while market participants maintained bearish outlooks givenfalling hot-rolled coil and ferrous scrap prices.Fastmarkets AMM's price assessment for domestic cut-to-length plate stood at $40 per hundredweight ($800 per short ton) on Friday, down by 1.2% from $40.50 per cwt a week earlier and the lowest since mid-Feb...Read More