Lack of demand and trading activity combined this week to put new pressure on CIS long steel export prices.The situation was aggravated by increased competition with Turkish suppliers trying to overcome difficulties related to protectionism in Europe and the United States and a weakening domestic economy. "We are about to finalize a rebar sale at $460 per tonne fob Black Sea," a Ukr...Read More
Prices for mesh-quality wire rod in Europe were stable this week amid limited market activity, sources told Fastmarkets on Wednesday May 8.Fastmarkets' assessment of the domestic mesh-quality wire rod price in Southern Europe was ?,?525-550 ($588-616) per tonne on May 8, unchanged for the past three weeks.The price has stayed within the range of ?,?525-560 per tonne since July 4 last year. But des...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 8.Please click...Read More
Chinese nickel premiums were unchanged at a 14-month high as of Tuesday May 7, according to Fastmarkets' latest assessments, in a week of multiple holidays and subdued trading.Elsewhere, the premium on European cathodes stabilized while those of briquettes continued lower. In the United States, similarly, the briquette premium dipped slightly while that of 4x5 cut cathodes was unchanged. Briquette...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday May 8 that are worth another look.Jiangxi Copper has become the first Chinese company to receive the green light to set up a large-scale copper scrap processing facility in Malaysia after China's clamp down on copper scrap imports led to mass scrap diversion to Southeast Asia, two company officials directly involved in the mat...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
The three-month price of zinc on the London Metal Exchange softened by a little less than 2% at the close of trading of Wednesday May 8, with continued inflows of material into LME-registered locations in European putting pressure on prices to move lower.Volumes traded for the galvanizing metal were particularly high over the afternoon, with more than 12,900 lots changing hands by the close.The th...Read More
Zinc premiums in Europe dropped while the backwardation remained wide this week, while lower lead prices increased spot interest in India and Southeast Asian countries, driving lead premiums higher. The zinc premium for Rotterdam is at its lowest level since August 2009, while the Antwerp level is at its lowest since the price assessment launched in 2017. The backwardation in the London Metal Exch...Read More
The Comex copper price dipped in US morning trading on Wednesday May 8 with lingering fears over the global trade war pressuring metal prices downward.The copper price for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.80 cents to $2.7775 per lb. The red metal has seen heavy selling pressure over the past few weeks with a stronger dollar and uncertain trade...Read More
The price of rebar produced and delivered in Northern Europe was stable in Fastmarkets' assessment on Wednesday May 8, despite continued poor demand.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?530-545 ($593-610) per tonne delivered on May 8, unchanged week-on-week.One buyer said that rebar prices had decreased by ?,?5 per tonne this week, although the prices.....Read More
The three-month price of zinc on the London Metal Exchange softened by a little less than 2% at the close of trading of Wednesday May 8, with continued inflows of material into LME-registered locations in European putting pressure on prices to move lower.Volumes traded for the galvanizing metal were particularly high over the afternoon, with more than 12,900 lots changing hands by the close.The th...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday May 8 that are worth another look.Jiangxi Copper has become the first Chinese company to receive the green light to set up a large-scale copper scrap processing facility in Malaysia after China's clamp down on copper scrap imports led to mass scrap diversion to Southeast Asia, two company officials directly involved in the mat...Read More
While spent lead-acid battery and cable lead prices in the United States slipped amid a decline in London Metal Exchange prices and softening demand, market participants shared mixed outlooks, with some anticipating steadiness and others wary of further price declines.Fastmarkets AMM's price assessments of whole lead-acid batteries and cable lead delivered to smelters both fell...Read More
Copper output by Chilean state-owned producer Codelco recovered in March 2019 but remained depressed when compared with last year's figures, national copper commission Cochilco said on Wednesday May 8.The company produced 128,600 tonnes of contained copper during March, down by 18.30% from 157,400 tonnes in the corresponding month in 2018.But this decline was less pronounced than the 19.30% year-o...Read More
Zinc premiums in Europe dropped while the backwardation remained wide this week, while lower lead prices increased spot interest in India and Southeast Asian countries, driving lead premiums higher. The zinc premium for Rotterdam is at its lowest level since August 2009, while the Antwerp level is at its lowest since the price assessment launched in 2017. The backwardation in the London Metal Exch...Read More
Major talking points among copper market participants attending the annual LME Asia Week in Hong Kong this week are whether Chinese copper demand for April and May is weaker compared with previous years and when high domestic copper stocks in China will decrease. Sustained high copper stocks in the Shanghai-bonded zone have fueled market worries that copper demand in China is foundering and that t...Read More
Import volumes of flat and long steel products into Brazil moved in opposite directions in April, according to figures released recently by the country's economy ministry.Imports of flat steel products fell by 25.70% year-on-year in April, to 97,534 tonnes, compared with 131,265 tonnes in April 2018.The decrease was mainly due to reduced imports of heavy plate, partially offset by higher volumes o...Read More
The price for rebar produced and delivered in Southern Europe remained unchanged this week amid quiet market activity, participants told Fastmarkets on Wednesday May 8.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($560-571) per tonne delivered on Wednesday, unchanged from May 1.There was an expectation among participants that the market would be flooded...Read More
Fastmarkets published its CIS export billet index later than scheduled on Wednesday May 8 but it is now appearing as normal.Fastmarkets' CIS export billet index, fob Black Sea, was published in the price book later...Read More
Iranian export prices for steel slab and billet have decreased over the past week with deals agreed at lower values, sources told Fastmarkets on Wednesday May 8.Recent bookings for Iran-origin steel billet were heard done in Asia at $380-385 per tonne fob. The total volume of these exports was more than 40,000 tonnes.Fastmarkets' weekly price assessment for Iranian...Read More