China's hot-rolled coil prices dropped on Wednesday April 24 after mills lowered offers amid weak demand and concerns over rising supply.DomesticEastern China (Shanghai): 3,990-4,000 yuan ($594-595) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,900-3,920 yuan per tonne, down 10-20 yuan per tonnePrices dropped after mills lowered offer prices in the morning session.A mill i...Read More
Export prices for Chinese cold-rolled coil were down slightly during the week to Tuesday April 23 due to limited demand in overseas markets, while export prices for hot-dipped galvanized coil rose amid a lack of availability in spot supply.Market sources said the recovery in CRC and HDG prices in 2019 could be halted in the next few weeks. Cold rolled coilFastmarkets MB's weekly export price asses...Read More
Chinese steel plate export prices were largely stable over the past week in moderate trading.Fastmarkets MB's assessment for June shipments of commercial-grade, chromium-added plate was $545-550 per tonne fob for the week ended Tuesday April 23, narrowing downward from $545-555 per tonne fob the week prior.Trading was sparse with Pakistan buyers last week, but Vietnamese buyers bought around 3,000...Read More
The price for rebar produced and delivered in Southern Europe was unchanged over the past week, amid low market activity during the Easter holidays, market participants told Fastmarkets on Wednesday April 24.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($562-573) per tonne delivered on Wednesday, unchanged from April 17."The market is stable at that pri...Read More
The price of hollow steel sections in both the Northern and Southern European domestic markets has remained stable this week amid heavily subdued market activity caused by the Easter holiday.The majority of market participants were absent leaving trading activity thin as a result, sources told Fastmarkets. Yet despite the stable price assessment, the market fundamentals are not perfectly balanced,...Read More
The price range for rebar produced and delivered in Northern Europe has remained unchanged week on week on limited market activity, sources told Fastmarkets on Wednesday April 24.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?535-550 ($601-618) per tonne delivered on Wednesday, unchanged from April 17.Following the long Easter weekend, a number of countries...Read More
The Turkish steel producers have continued to stay away from the deep-sea scrap markets due to weak demand for finished steel, sources said on Wednesday April 24.Demand in the country's export markets was still limited because of the safeguarding imports quotas impose by the EU, the doubled Section 232 import tariffs in the United States, and import duties in Egypt.Suppliers in the Baltic Sea regi...Read More
Iron ore prices retreated on Wednesday April 24 following a downturn in the futures and steel markets.MB 62% Fe Iron Ore Index: $93.55 per tonne cfr Qingdao, down $0.98 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.33 per tonne cfr Qingdao, down $0.98 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $95.94 per tonne cfr Qingdao, down $0.94 per tonne. MB 58% Fe Premium Index: $83.70 per tonne...Read More
Iranian export slab prices have increased on higher offers over the past week, while billet prices and demand both fell in the wake of a renewed focus on sanctions by the United States, sources told Fastmarkets.Earlier this week, US president Donald Trump announced that he would not be renewing the exemption from sanctions on Iranian oil imports granted to several countries, in...Read More
China's domestic rebar prices maintained their downward trend on Wednesday April 24 as buyers lowered procurement rates. Domestic Eastern China (Shanghai): 4,050-4,100 yuan ($604-610) per tonne, down 20-30 yuan per tonne Northern China (Beijing): 3,950-4,000 yuan per tonne, down 40-50 yuan per tonneRebar futures dropped further on Wednesday amid lower buying interest in the spot mar...Read More
Key data from the Wednesday April 24 pricing session in Europe.Key drivers The European ferro-titanium and titanium scrap markets were steady in the week to Wednesday April 24, consolidating gains made early last week, when Fastmarkets reported news of a production stoppage at UK producer FE Mottram after a fire at the company's plant in Sheffield. Alloy prices were expected to move higher in the...Read More
Import prices for stainless steel in East Asia went down in the week ended Wednesday April 24 because market participants delayed purchasing decisions while waiting for more clarity about how the price of nickel would move.The three-month nickel contract on the London Metal Exchange ended the official trading session on April 23 at $12,575-12,600 per tonne, down by $490-495 per tonne week on week....Read More
Iranian export slab prices have increased on higher offers over the past week, while billet prices and demand both fell in the wake of a renewed focus on sanctions by the United States, sources told Fastmarkets.Earlier this week, US president Donald Trump announced that he would not be renewing the exemption from sanctions on Iranian oil imports granted to several countries, in...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 24.Please click...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Base metals prices on the London Metal Exchange consolidated at the close of trading on Wednesday April 24, largely unaffected by a year-to-date high in the US dollar index, while three-month tin futures continued to face downward pressure.The US dollar index, which is measured against a basket of six foreign currencies, traded at a high of 97.84 and reached its highest level since May 2017 during...Read More
The price for rebar produced and delivered in Southern Europe was unchanged over the past week, amid low market activity during the Easter holidays, market participants told Fastmarkets on Wednesday April 24.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($562-573) per tonne delivered on Wednesday, unchanged from April 17."The market is stable at that pri...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 24 that are worth another look.OM Manganese will spend as much as Australian $7.3 million ($5.2 million) to establish a manganese ore joint venture in western Australia with copper-gold-manganese explorer Bryah Resources, Fastmarkets heard on Wednesday April 24.Carmaker BMW has locked in supply of cobalt metal...Read More
Base metals prices on the London Metal Exchange consolidated at the close of trading on Wednesday April 24, largely unaffected by a year-to-date high in the US dollar index, while three-month tin futures continued to face downward pressure.The US dollar index, which is measured against a basket of six foreign currencies, traded at a high of 97.84 and reached its highest level since May 2017 during...Read More
The Comex copper price inched higher in US morning trading on Wednesday April 24 amid positive signs the United States and China's trade impasse could be approaching a resolution. The copper price for May settlement on the Comex division of the New York Mercantile Exchange gained 0.95 cents to reach $2.9030 per lb. The red metal has been unable to set a clear price direction over the past few week...Read More