The three-month nickel price on the London Metal Exchange dropped by 1.2% during morning trading on Tuesday May 28, capped by thin buying interest across Asian trading hours while US-China trade tensions continued to hang over commodity markets. Nickel prices had soared by more than 4% toward the end of last week, with the metal's three-month price reaching a one-month high of $12,495 per tonne on...Read More
Markets are in semi-limbo while they wait for developments on US-China trade and Chinese stimulus; the release of Chinese purchasing managers' index (PMI) data on Friday May 31, if poor, may well prompt more stimulus.Asian equities firmer after poor Chinese industrial profits boost expectations for stimulus Markets likely to focus on Friday's Chinese PMI data Base metals Three-month base metals pr...Read More
Prices for cold-heading quality (CHQ) and high-carbon wire rod declined in the United States after costs for raw materials fell and buyers grew more confident that they'll enjoy an abundance of supply from producers. Fastmarkets AMM's monthly pricing assessment for cold-heading quality wire rod dropped to $43.50 per hundredweight ($870 per short ton) North American delivered duty paid Great Lakes...Read More
Plate prices in the United States have fallen again in the wake of a hot-rolled coil slump, putting the domestic plate market at its lowest point in more than 15 months.Fastmarkets AMM's price assessment for domestic cut-to-length plate dropped sharply week on week, moving to $41.50 per hundredweight ($830 per short ton) on Friday May 24. That price is off by 4.6% from $43.50 per cwt one week earl...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have remained stable over the past week due to limited demand amid the observance of the Islamic holy month of Ramadan, sources told Fastmarkets on Tuesday May 28.The observance of Ramadan among Muslim communities typically results in shorter working days and reduced demand for materials. Ramadan began earlier t...Read More
The UK's Insolvency Service has made contact "with more than 80 potential trade purchasers" interested in buying troubled UK long steel producer British Steel, it said on Tuesday May 28.Sixty of the potential bidders have been sent non-disclosure agreements, with official expressions of interest due by early June, the UK's Official Receiver, part of the UK's Insolvency Service, said.British Steel...Read More
Turkish domestic ship scrap prices have inched up over the past week, while auto bundle scrap prices have remained largely stable, sources said on Tuesday May 28.Only one steel mill in the Izmir region raised its buy price for ship scrap last week, by $3 per tonne to $295 per tonne, in line with the increasing imported scrap values.So Fastmarkets' weekly price...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 oreRio Tinto, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of...Read More
Seaborne iron ore prices corrected down on Tuesday May 28 after Monday's surge, amid a retreat in futures and steel prices.MB 62% Fe Iron Ore Index: $106.11 per tonne cfr Qingdao, down $2.51 per tonne. MB 62% Fe Pilbara Blend Fines Index: $104.59 per tonne cfr Qingdao, down $2.22 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $109.52 per tonne cfr Qingdao, down $1.83 per tonne. MB 58% Fe Premium...Read More
The seaborne coking coal market showed some signs of weakness on Tuesday May 28, with supply outpacing demand in the fob Australia premium segment, even though prices for China-bound cargoes appeared to hold up.A July-laycan cargo of second-tier hard coking coal was traded at $197.05 per tonne cfr China. The transaction is part of a term contract, according to various sources.This is down $0.95 pe...Read More
Brazil's Vale has appointed Marcello Spinelli as executive director of ferrous and coal, the miner said on Monday May 27.He replaces Claudio de Oliveira Alves, who had been acting as interim executive director for the last three months after his predecessor Gerd Peter Poppinga stepped down along with other Vale's top executives following a tailings dam disaster in Minas Gerais state.The collapse o...Read More
Chinese mills lowered their export offers for hot-rolled coil on Tuesday May 28 to generate interest after a recent lack of activity in the market, both at home and abroad.DomesticEastern China (Shanghai): 3,990-4,000 yuan ($578-580) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, unchangedA Hangzhou-based trader said trading activity remained thin during...Read More
China's rebar prices were largely flat on Tuesday May 28 in both the domestic and export markets amid the mild movements of the long steel product's futures contract. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($580-587) per tonne, unchangedNorthern China (Beijing): 3,920-3,970 yuan per tonne, widened downward by 10 yuan per tonneDespite the steady price increases for iron ore in the past...Read More
Base metals prices on the Shanghai Futures Exchange were split into two camps during morning trading on Tuesday May 28, with a stronger dollar and comments from US President Donald Trump suggesting the US was "not ready" to make a trade deal with China pressuring the complex."D-day is approaching for increased tariffs on trade between the US and China, with no signs of capitulation from either sid...Read More
Benchmark cobalt prices edged lower again at the end of last week after some sellers cut their offers to secure larger tonnage inquiries after an early start to the quieter summer period. Fastmarkets MB assessed the standard-grade cobalt price at $16-16.55 per lb, in-warehouse, on Friday May 24, down from $16.20-16.75 per lb on May 22. Buying from consumers has tailed off in the past few weeks, an...Read More
Cross...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.Subs...Read More
LME prices fell last week The...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as...Read More
Aluminium Following from the May 23 low at...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest...Read More
Surplus in January-February, according to ICSG ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest is...Read More
ILZSG surplus grows in March...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as i...Read More