Fastmarkets' tin premiums in the United States fell this week, with an indefinite strike at the world's fifth-largest tin producer unlikely to alleviate pressure of poor demand and oversupply, while weak buying appetite and supply uncertainties in Indonesia are capping spot business in Asia and Europe. US premiums fall despite Minsur strike, demand in question European participants brace for...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe moved down this week following continued feedstock price decreases and lackluster demand, sources told Fastmarkets on Wednesday May 1.The market has been quiet this week, largely due to the May 1 public holidays in many European countries, but also because of the previous slowdown for the Easter break across the co...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday May 1 that are worth another look.Vanadium producer Bushveld Minerals has agreed to buy multiple South African production assets for $68 million, it said on Wednesday May 1. The South Africa-based miner will acquire Duferco Vanadium Investment Holding's Vanchem plant, the ferro-vanadium business of its subsidiary South African...Read More
Weak United States aluminium premiums and increased ocean shipping costs led to a continued narrowing of the estimated arbitrage between Southeast Asia warehouses and the US Midwest.Fastmarkets assessment for the average monthly midpoint of the P1020 US Midwest aluminium premium was at $418.87 per tonne in April, flat from March.Oversupply has created pressure on the US premium over the month, nar...Read More
Chinese nickel premiums diverged from those in Europe and the United States on Tuesday April 30, hitting a 13-month high on arbitrage-profit opportunities emanating from an open import window.All US nickel premiums slid on surplus stock, following an almost two-year low in the European nickel briquette premium.Chinese premiums surge to 13-month high on open import window Ample scrap supply f...Read More
Comex copper prices plummeted during the trading session on Wednesday May 1, with investors bearish before the US Federal Reserve rate decision expected later today.The copper price for July settlement on the Comex division of the New York Mercantile Exchange tumbled by 5.55 cents to $2.8485 per lb. "The Fed is widely expected to reiterate its dovish stance despite the fact that it is in a bit...Read More
The UK government has agreed to provide long steel producer British Steel a loan worth ?120 million ($156 million) to cover the annual bill from the EU for the company's carbon emissions, government business secretary Greg Clark told the UK Parliament on Wednesday May 1."British Steel approached my department earlier this year to explain that the absence of the expected 2019 free allowances left...Read More
Steel H-beam prices in Northern and Southern Europe moved down this week on lower feedstock costs and weaker demand, sources told Fastmarkets on Wednesday May 1.Fastmarkets' assessment of the price for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe moved down to ?,?590-625 ($661-700) per tonne delivered on May 1, from ?,?590-635 per tonne delivered on April 24.High stock leve...Read More
The Northern European domestic price for mesh-quality wire rod has widened downwards by ?,?5 per tonne week-on-week, amid low demand, market participants told Fastmarkets on Wednesday May 1. Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was ?,?525-550 ($588-616) per tonne delivered on Wednesday, down from ?,?530-550 per tonne on April 24. "Dem...Read More
The price range for rebar produced and delivered in Northern Europe moved down week-on-week amid low demand and reduced market activity, sources told Fastmarkets on Wednesday May 1.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?530-545 ($594-611) per tonne delivered on Wednesday, down from ?,?535-550 per tonne delivered on April 24. A number of countri...Read More
The price for rebar produced and delivered in Southern Europe was unchanged over the past week, amid continued low market activity, market participants told Fastmarkets on Wednesday May 1.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($560-571) per tonne delivered on Wednesday, unchanged from April 24. "There has been only a little business in...Read More
Chinese steel plate export prices dropped in the past week as mills chased orders amid sparse trading.Fastmarkets MB's assessment for June shipments of commercial-grade, chromium-added plate was $540-547 per tonne fob for the week ended Tuesday April 30, down $3-5 per tonne from $545-550 per tonne fob the week prior.An eastern China-based trader sold some plate of small tonnages (less than 1,000 t...Read More
The stainless steel scrap market in the United States took another major step downward on Tuesday April 30, with prices for the 300-series grades dropping across the board while those for the chrome grades appeared poised to fall in the third quarter. "Domestics have softened, I think they would like to drop more, but the flow will stop," one dealer said, indicating that earlier attempts to drop p...Read More
Turkish steel mills stayed silent on Wednesday May 1, due to a public holiday in Turkey and across much of Europe, with no new deals heard, sources told Fastmarkets.Those who were still active in the market described it as "closed" given the low level of trading.Yesterday the Fastmarkets' daily scrap indices fell by $4.49 per tonne for material from Northern European and the United State...Read More
Trading in the base metals on the London Metal Exchange has been extremely quiet on the morning of Wednesday May 1, with much of Asia closed for holidays. Only 561 lots had traded as of 6.16 am London time compared with 4,202 lots at a similar time on Tuesday.May Day holiday in Asia and across much of Europe expected to subdued tradingOil prices ease after attempted coup in Venezuela stallsFederal...Read More
London Metal Exchange base metals were generally trending down in the morning session on May 1, while market activity will be limited by national holidays in Europe and China and poor economic performance globally.All eyes were on the LME aluminium three-month contract on April 30, which reached an intraday low of $1,795 per tonne, its lowest since January 13, 2017, when the price was trading at p...Read More
Benchmark prices for cobalt metal continued to recover through April 2019, although lackluster gains for cobalt sulfate were a sign of continued oversupply at points along the supply chain.Price movesThe benchmark standard-grade cobalt prices showed a month-on-month increase in April for the first time since October, with consumers and traders starting to restock, and producers facing less urgency...Read More
The following Fastmarkets minor metals prices changed on Wednesday May 1:Minor metalsCobalt MB free market alloy grade, $/lb: $17-18 per lb from $17-17.80Cobalt Sulfate, Co...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday May 1 pricing session in Europe.Key drivers The European ferro-titanium held at present prices for the third week in a row, with scrap markets steady for the second consecutive week, while supply worries underpinned market sentiment in the week to Wednesday May 1.There is no sign of a return to production at UK producer FE Mottram after a fire at the company's plant in...Read More