The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...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 transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62%...Read More
Seaborne coking coal spot prices continued to trend downward on Tuesday June 4 amid deteriorating sentiment in the market.Offers in the cfr China segment were mostly unrevised, however, according to various sources."We are still waiting for interested buyers or indicative bids. If there is no interest from end users, it would be pointless to lower our offers," a Chinese trading source said.A secon...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Index futures moved lower following release of the May ADP Employment Report at 8:15 AM EDT. Consensus was 173,000 versus 275,000 in April. Actual was 27,000.Salesforce.com gained $4.39 to $155.20 after the company reported higher than consensus first quarter earnings. The company also rai...Read More
Zinc's three-month price on the London Metal Exchange continued to move downward at the close of trading on Monday June 3, with market participants indicating a corrective price move.At the same time, commodity investment remained subdued on the threat of new tariffs to be imposed on Mexico by the United States.Volumes traded in the galvanizing metal reached their highest level since April 16, wit...Read More
Key data from the June 3 pricing session in London and Shanghai. Key drivers: Fastmarkets' daily fob Australia alumina index stabilized just above $360 per tonne amid recent steady buying interest from China, where buyers have been covering units required as...Read More
The lead import arbitrage in China re-opened in May causing lead concentrate imports to rise and lead concentrate treatment charges (TCs) to tumble, while spot terms for zinc concentrates stabilized. Fastmarkets' TCs index for low-silver lead concentrates dropped to a 19-month low of $5-15 per tonne on a cif China basis on Friday May 31, from $15-35 per tonne at the end of April. Several deal...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 3 that are worth another look.In copper, Chile's state-owned producer Codelco halted part of its operation at the El Teniente mine following an accident on Sunday June 2. Separately, Aurubis has entered into a long-term supply contract with Teck Resources to source concentrates over a 10-year period from the s...Read More
Key data from the June 3 pricing session in London and Shanghai. Key drivers: Fastmarkets' daily fob Australia alumina index stabilized just above $360 per tonne amid recent steady buying interest from China, where buyers have been covering units required as...Read More
The lead import arbitrage in China re-opened in May causing lead concentrate imports to rise and lead concentrate treatment charges (TCs) to tumble, while spot terms for zinc concentrates stabilized. Fastmarkets' TCs index for low-silver lead concentrates dropped to a 19-month low of $5-15 per tonne on a cif China basis on Friday May 31, from $15-35 per tonne at the end of April. Several deal...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday May 31.ChinaThe Chinese domestic antimony price continued to fall for the fourth consecutive week after some domestic suppliers' lowered prices further to spark buying interest. Many Chinese antimony consumers remained wary of restocking in anticipation of a further price dip in the coming weeks. Some domestic antimony...Read More
After briefly stabilizing at a recent high of $16.35-17.05 per lb following a rise since late March, the standard-grade cobalt benchmark price started to retreat in mid-May amid slowing consumer demand and sellers' profit-taking.Price moves Fastmarkets' standard-grade metal benchmark price fell 4.5% to $15.35-16.10 per lb on May 29, following several mild drops at the beginning of May after some s...Read More
Fastmarkets will roll over its Turkey domestic ferrous scrap prices on Monday June 3 because the country extended the Eid al-Fitr public holiday to last the entire week of Monday June 3 to Friday June 7. The holiday had originally been scheduled to begin on Tuesday June 4 this year. The prices affected are Turkish domestic auto bundle scrap in lira per tonne delivered and Turkish domestic mel...Read More
The Turkish deep-sea scrap markets started the week quietly with many market participants absent for the week-long post-Ramadan public holiday of Eid al-Fitr, sources said on Monday June 3.The market was expected to be almost inactive for the rest of the week. The holiday marks the end of the period of abstinence for Ramadan.The latest known trade was heard late on...Read More
Markets are nervous after US President Donald Trump opened up the possibility of another front in the trade wars, this time with Mexico. Today's manufacturing purchasing managers' index (PMI) data is likely to set the tone.Trade war rhetoric escalates with Mexico now in focus Equites continue to show weakness while haven assets shineChina's Caixin manufacturing PMI holds steady; more PMI data out...Read More
After briefly stabilizing at a recent high of $16.35-17.05 per lb following a rise since late March, the standard-grade cobalt benchmark price started to retreat in mid-May amid slowing consumer demand and sellers' profit-taking.Price moves Fastmarkets' standard-grade metal benchmark price fell 4.5% to $15.35-16.10 per lb on May 29, following several mild drops at the beginning of May after some s...Read More
It's beginning to look a lot like a steel market downturn. Fastmarkets examines whether that trend is confined to steel - or whether the broader global economy is in trouble.Hot-rolled coil prices have begun reflecting trends not seen since the 2008 global financial crisis and its aftermath - the Great Recession. Fastmarkets has taken the pulse of markets in the United States, Europe, China a...Read More
The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States (CIS) was silent in the week to Monday June 3 ahead of 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 3, narrowing upward from $470-490 per tonne fob a week earlier."The market w...Read More
Demand for flat steel in Turkey improved in May especially in the export market, after the United States halved its import tariffs for Turkish steel to 25%, market participants told Fastmarkets. And local producers have now filled their order books until August, they said on Friday May 31. Turkish steel prices also began to increase from May 17, when the US duties wer...Read More
Merchant bar quality (MBQ) steel prices in the United States have receded after late-April's mill cuts, while market sentiment overall remains weak for much of the country. Fastmarkets AMM assessed domestic 2- x 2- x 1/4-in angle merchant bar at a 12-month low of $35.80 per hundredweight ($716 per short ton) fob mill on Friday May 31, down by 3.4% from $37.05 per cwt previously and off by 5.9...Read More