Fastmarkets MB is delaying the launch of a weekly price assessment of South America import aluminium-zinc alloy coated steel coil reported on a US-dollar-per-tonne cfr South America basis.Market participants have been reporting significant liquidity in this market, with steady volumes being traded weekly.Based on the most widely traded product specification, the weekly price assessm...Read More
Fastmarkets examines the disconnect between manganese ore and alloy prices, which has led to squeezed margins for alloy producers.Leading alloy producers are considering the future of their assets amid historically high ore prices and subdued alloy prices.South32 announced in May it is reviewing its alloy assets and may divest them, while Ferroglobe said in early June it is considering cutting out...Read More
Lead's three-month price on the London Metal Exchange was lower at the close of trading on Friday June 7, failing to sustain gains made earlier in the week but staying above its nearby $1,800 per tonne support level, while disappointing US job growth figures hung over the commodity markets.The three-month lead price reaching an intraday low of $1,820 per tonne, down by more than 3% since Thursday'...Read More
Seaborne iron ore prices were flat on Friday June 7 amid a muted market due to a public holiday in China.MB 62% Fe Iron Ore Index: $100.60 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $99.40 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $104.04 per tonne cfr Qingdao,...Read More
Sentiment in the ex-China segment of the seaborne coking coal market has deteriorated further following a trade involving a cargo of premium materials that was concluded below prevailing levels.A July-laycan cargo of branded materials changed hands on trading platform Global Coal at $197 per tonne fob Australia late on Thursday, various sources told Fastmarkets on Friday June 7. The transaction wa...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Lead's three-month price on the London Metal Exchange was lower at the close of trading on Friday June 7, failing to sustain gains made earlier in the week but staying above its nearby $1,800 per tonne support level, while disappointing US job growth figures hung over the commodity markets.The three-month lead price reaching an intraday low of $1,820 per tonne, down by more than 3% since Thursday'...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Fastmarkets' alumina index fob Australia declined by 3.7% on Friday June 7 to its lowest since early May.The daily fob Australia alumina index fell to $349.39 per tonne from $362.66 per tonne the previous day. Key drivers: The most recent tender for Indian material concluded at $341.80 earlier today, pushing the index...Read More
Fastmarkets proposes to reduce the frequency of publication of a number of base metal price assessments in response to low transaction liquidity and a lack of price volatility in the past year.The proposed changes would affect our copper, aluminium, zinc, lead and tin premium assessments, while our nickel offering would be unchanged. The main pricing day will continue to be Tuesdays (at 3-4pm Lond...Read More
Fastmarkets proposes to change the frequency of its assessments for tin ingot premiums from weekly to fortnightly in Rotterdam, Shanghai, Taiwan, Baltimore and the US Midwest. The proposal is being put the market in response to subdued spot liquidity across Fastmarkets' weekly tin pricing sessions, and comes after the discontinuation of four tin ingot premium assessments in Rotterdam, Singapore an...Read More
Lead's three-month price on the London Metal Exchange was lower during morning trading on Friday June 7, with price action falling back to $1,860 per tonne after breaching the nearby $1,900 per tonne resistance level on Thursday following a 2% climb. The announcement of Nyrstar's decision to declare force majeure at its Port Pirie smelter in Australia sent lead futures surging on Thursday. Over th...Read More
A customer of Konkola Copper Mines (KCM) has been informed that it will not be receiving copper deliveries in June after the Zambian government's recent liquidation order on the supplier.KCM, majority owned by Vedanta Resources, is the operator of the African country's largest copper smelter, Nchanga, with capacity for 311,000 tonnes per year."KCM just told us we would not be able to receive [our]...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) plans to build its new galvanizing line in the country's S??o Paulo state, it announced on Thursday June 6.CSN plans to invest around 1.5 billion Reais ($386.5 million) to build the galvanizing line, which will have production capacity of 350,000 tonnes per year, the company said. The galvanizing line will be located in a new metallur...Read More
Cold-rolled and coated sheet prices in the United States stabilized after three consecutive weeks of declines, although market participants remained bearish over their near-term price outlook amid sufficient supplies and soft demand.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil stood at $37 per hundredweight ($740 per short ton) on Thursday June 6, unchanged from one week earli...Read More
Brazilian steel slab export prices have fallen due to weak buying activity and sellers facing competition from other regions. Fastmarkets weekly assessment for Brazil export slab narrowed downward to $440-450 per tonne fob on Friday June 7 from $440-480 per tonne fob a week earlier.Market participants indicated that sellers can't expect to get bookings above the $450-per-tonne-...Read More
Indian domestic prices for secondary steel billet fell by at least 800 rupees ($12) per tonne this week on account of reduced inquiries and minimal buying by finished product makers, Fastmarkets heard on Friday June 7.The domestic secondary billet price was assessed by Fastmarkets on Friday down by 800 rupees per tonne to 30,500-30,700 rupees ($440-443) per tonne ex-mill, compared with last week's...Read More
European steelmakers increased their exports of hot-rolled coil (HRC) in April-May 2019 to try to compensate for poor domestic demand, market sources have told Fastmarkets.During those two months, prices for EU-produced HRC were lower than usual compared with prices in other main steel-supplying regions, driven downward primarily by sluggish trading activity.HRC is mainly exported by European mill...Read More
Domestic rebar prices in Poland have been largely unchanged over the past week, supported by solid demand, sources told Fastmarkets on Friday June 7.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,110-2,150 zloty ($553-565) per tonne ex-works on June 7, compared with 2,100-2,160 zloty per tonne ex-works a week earlier.The assessment reflects the d...Read More
Prices for alloy steel scrap in Europe and the UK were largely stable this week in a slow market where poor demand has been matched by limited supply, sources told Fastmarkets on Friday June 7."Demand has fallen off a cliff, but there's also really not a lot of supply - it has been very slow coming in. And the mills just don't need much [scrap]," a UK trader said.Fastmarkets' price assessment for...Read More