The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebar East China, domestic, grade...Read More
Bearish sentiment on LME-traded base metals pervaded the market throughout trading on April 18 with the majority of the complex continuing to trade down at the end of the trading day. Pessimism continued to mount on the back of weak European PMI data throughout the day's trading, dissipating any of the previous day's bullish sentiment on the basis of positive Chinese economic data. Suppressed appe...Read More
Mining-and-metals company South32 has revised its alumina production guidance down due to a de-bottlenecking initiative, it said in its third-quarter financial year report on Thursday April 18.The company reduced production guidance at its Worsley alumina facility in operation by 4% to 3.79 million tonnes to, "support a sustainable increase in production-to-nameplate capacity ahead of future de-bo...Read More
The US copper market failed to hold onto Wednesday's gains amid a surging dollar, which weighed on the base metals complex.The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped 4.20 cents to $2.9255 per lb.At last glance, the dollar index was at 97.32, up 0.32% and above the psychological level of 97. The red metal has been unable to set a clear price...Read More
Mining-and-metals company South32 has revised its alumina production guidance down due to a de-bottlenecking initiative, it said in its third-quarter financial year report on Thursday April 18.The company reduced production guidance at its Worsley alumina facility in operation by 4% to 3.79 million tonnes to, "support a sustainable increase in production-to-nameplate capacity ahead of future de-bo...Read More
Alcoa's revenue for the first quarter of 2019 was $2.7 billion, down 19% from the fourth quarter of 2018, due to lower alumina and aluminium prices.The producers adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) excluding special items for the first quarter between January and March 2019 stood at $467 million, a 39% decrease from the previous quarter. "We improved ou...Read More
A summary of MMG's production results for the three months ended March 31, 2019, as well as its full-year production guidance.In brief Australia-headquartered miner MMG's contained copper in concentrate production grew by 16% in the first three months of 2019 compared with the same period a year earlier due to an improved performance at the company's Las Bambas mine in Peru.Contained copper in con...Read More
South32 has reported record year-to-date manganese ore output in the current 'favorable' market and has increased its 2019 annual production guidance by 4% in both Australia and South Africa.The miner reported 4.25 million tonnes of total manganese production for the nine months of the 2019 financial year beginning in June 2018, up 1% year on year. For the January-March third quarter, product...Read More
The Chinese domestic indium price dropped by 4% week on week on Wednesday April 17 in response to news that the Fanya Metal Exchange will again auction 34.64 tonnes of the indium stock it holds in its warehouse, after the first auction in January failed to attract any bidders. The stock will be auctioned via Alibaba judicial online platform at 10am Beijing time on April 24 and 10am Beijing time on...Read More
Global ferrous scrap prices rebounded in the week to Thursday April 18 on returning demand from Turkish steel mills. Export prices on the United States' East Coast moved up as a result.But demand was limited in the key import market of Vietnam due to a mill stoppage, while Taiwanese steel mills remained well-stocked. Turkey demand returns US market picks up on East Coast Mill stoppage in Vietnam d...Read More
Austenitic alloy steel scrap prices in the UK increased in the week ended Thursday April 18 because of higher demand this month compared with the first quarter of the year, and despite lower nickel prices.Another supporting factor was the concessions given by stainless steel mills during April for the price paid for the nickel component of the metal.Traders said that further concessions in May wer...Read More
Turkish steel producers have gone through Thursday without making any deep-sea scrap purchases, because the political situation in the country has changed and the value of the country's lira has become more volatile, sources said on Thursday April 18.Turkey's supreme committee of elections (YSK) has declared opposition candidate Ekrem Imamoglu the winner of the recent mayoral election in Istanbul,...Read More
China's domestic battery-grade lithium spot market held steady week on week on Thursday April 18 on stable demand from downstream cathode producers, while rest-of-world prices continued to stagnate on weak spot consumption and ahead of the Easter holiday starting on Friday. Battery-grade lithium carbonate market stable week on week. Battery-grade lithium hydroxide prices level out after last...Read More
Key data from the Wednesday April 17 pricing session in Shanghai. Key driversChina's cobalt market was broadly stable on Wednesday following marginal upticks in international cobalt metal prices at the end of last week, which caused buyers to adopt a wait-and-see stance and thus stifled trading activity. Fastmarkets MB assessed the standard-grade cobalt price at $15.35-16.75 per lb on April 12, na...Read More
Cobalt prices continued their recovery on Wednesday April 17, although gains were more muted than in recent weeks as buyers assessed their restocking needs after recent price increases. Fastmarkets assessed standard-grade cobalt prices at $15.60-16.75 per lb, in-warehouse, on April 17, up from $15.35-16.75 per lb previously. Alloy-grade prices rose to $16.85-17.65 per lb, up 20 cents on...Read More
Prices for coated flat steel products in Turkey remained stable in the week ending Thursday April 18, with demand soft in the domestic market.Demand failed to improve because of the weak Turkish lira and the current economic uncertainty.The lira was trading at TRY100 to $17.3698 on April 18, compared with TRY100 to $17.4791 on April 12 and TRY 18.7654 on March 1, according to exchange rate...Read More
Most prices for steel coil products in Turkey decreased again over the week to Thursday April 18, with buying activity remaining subdued.Demand in the local market was still soft because of the continuing weakness of the Turkish lira and the expectation that prices will fall further.The lira was trading at TRY100 to $17.3698 on April 18, compared with TRY100 to $17.4791 on April 12 and TRY 18.7654...Read More
China's domestic hot-rolled coil prices dipped on Thursday April 18, following a drop in the futures market, although export prices were little changed amid sparse trading.DomesticEastern China (Shanghai): 3,970-3,980 yuan ($593-595) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, down 20 yuan per tonneTrading was thinner on Thursday than during the...Read More
Reinforcing steel bar prices have decreased in the United States due to downward pressure from falling raw material costs and some reports of slower market activity, market sources said. Fastmarkets AMM's price assessment for domestic rebar stood at $34.50-35.50 per hundredweight ($690-710 per short ton) fob mill on Wednesday April 17, down by 2.4% from $35.25-36.50 per cwt two weeks earlier. At t...Read More
The decision by the European Commission (EC) to suspend carbon emissions allowances issued by the UK government under the EU's Emissions Trading Scheme (ETS) is expected to remain valid until the UK is able to reach a deal with the EU on the country's exit from the union, Richard Warren, head of policy at industry body UK Steel, told Fastmarkets on Thursday April 18.Allowances issued by the UK wer...Read More