An overview of the minor metals markets and the reasons for any price moves.Read More
Fastmarkets' battery raw materials team summarizes eight key takeaways from last week's Battery Materials Conference in Shanghai. Cobalt's upside is limited without China on board: While market participants at last week's MMTA conference in Edinburgh were enjoying cobalt having found its floor and the resultant round of restocking, delegates in Shanghai were more concerned about whether Chine...Read More
Turkish steel producers continued their deep-sea scrap purchases for May deliveries, and the prices of the latest cargoes confirmed the upward market direction, sources said on Wednesday April 17.A steel producer in Northern Turkey booked a European cargo, comprising 35,000 tonnes of HMS 1&2 (75:25) and 5,000 tonnes of bonus at an average price of $307 per tonne cfr.The prices of each grade were c...Read More
The price range for rebar produced and delivered in Northern Europe has remained unchanged week-on-week ahead of the Easter holidays, sources told Fastmarkets on Wednesday April 17.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?535-550 ($604-621) per tonne delivered on Wednesday, unchanged from April 10. "We expect the price to remain stable over the we...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 17 that are worth another look.Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. Copper's three-month price on the London Metal Exchange...Read More
Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. David Stein, who manages the Aerecura Capital fund and invests directly in mines, said base metal prices including zinc and lead could fall in a wider rout of the markets. Du...Read More
Fastmarkets' battery raw materials team summarizes eight key takeaways from last week's Battery Materials Conference in Shanghai. Cobalt's upside is limited without China on board: While market participants at last week's MMTA conference in Edinburgh were enjoying cobalt having found its floor and the resultant round of restocking, delegates in Shanghai were more concerned about whether Chine...Read More
The outlook for domestic prices for hot-rolled coil (HRC) in Europe remained negative, although they have been largely stable in the week ended Wednesday April 17, sources have told Fastmarkets.Domestic HRC prices in Europe have been under pressure from limited trading activity and they were expected to gradually decline, according to market participants."The market is showing a trend in a negativ...Read More
Domestic prices for heavy steel plate in Southern Europe have decreased over the week ended Tuesday April 17, due to slow demand and a fall in slab costs, sources have told Fastmarkets.Fastmarkets' weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe dropped to ?,?540-565 ($610-638) per tonne ex-works on April 17, from ?,?555-570 per tonne ex-works a week earlier....Read More
China's domestic prices for hot-rolled coil softened on Wednesday April 17, which led to sentiment worsening among exporters of the flat steel product.DomesticEastern China (Shanghai): 3,990-4,000 yuan ($595-596) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, down 20-30 yuan per tonnePrices dipped nationwide, with sources describing trading...Read More
Wire rod prices in the United States have deteriorated for a third consecutive month due to a range of factors, with prices for imported material also down on fresh cfr offers originating from Europe, Africa and Asia, market sources said.Fastmarkets AMM's assessment for industrial quality low-carbon wire rod was at $37-38 per hundredweight ($740-760 per short ton) fob mill on Tuesday April 16, dow...Read More
The price for rebar produced and delivered in Southern Europe has narrowed upward by ?,?15 per tonne over the past week with some Italian mills raising their previously low offers, market participants told Fastmarkets on Wednesday April 17.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($565-576) per tonne delivered on Wednesday, up from ?,?485-510 per to...Read More
The price range for domestic mesh-quality wire rod produced and delivered in Southern Europe has widened downward by ?,?10 per tonne week on week, with mills reducing their offers, market participants told Fastmarkets on Wednesday April 17.Fastmarkets' assessment of the EU domestic mesh-quality wire rod price in Southern Europe was ?,?525-550 ($593-621) per tonne on April 17, down from ?,?535-550...Read More
Turkish steel producers continued their deep-sea scrap purchases for May deliveries, and the prices of the latest cargoes confirmed the upward market direction, sources said on Wednesday April 17.A steel producer in Northern Turkey booked a European cargo, comprising 35,000 tonnes of HMS 1&2 (75:25) and 5,000 tonnes of bonus at an average price of $307 per tonne cfr.The prices of each grade were c...Read More
Iron ore prices continued to retreat on Wednesday April 17 following news that Vale was permitted to resume operations at its Brucutu mine in Brazil, with capacity for 30 million tonnes per year.MB 62% Fe Iron Ore Index: $93.23 per tonne cfr Qingdao, down by $1.55 per tonne.MB 62% Fe Pilbara Blend Fines Index: $92.01 per tonne cfr Qingdao, down by $1.55 per tonne.MB 62% Fe Iron Ore Index-Low Alumi...Read More
BHP has lowered its iron ore production guidance and raised costs expectations for the 2019 financial year amid disruption to operations caused by a cyclone that hit the west coast of Australia last month.The miner expects its iron ore operations to produce 265-270 million tonnes (at 100% basis) in the 2019 financial year, down 4.6% from its earlier estimate of around 273-283 million tonnes. The l...Read More
Prices for billet and rebar in the United Arab Emirates were stable this week amid continuing weak demand, sources told Fastmarkets on Tuesday April 16.Domestic rebar Local rebar producers in the UAE kept their prices unchanged for May production, with demand expected to remain poor due to the Islamic holy month of Ramadan starting early in the month. Observance of Ramadan among Muslim communities...Read More
China's domestic rebar prices dipped on Wednesday April 17 amid higher selling interest among traders. Domestic Eastern China (Shanghai): 4,050-4,100 yuan ($603-611) per tonne, narrowed downward by 30 yuan per tonne Northern China (Beijing): 4,030-4,060 yuan per tonne, widened downward by 10 yuan per tonneRebar traders lowered their prices slightly during the day to secure more sales. The lower pr...Read More
Ferro-silicon prices in the Chinese domestic market held steady last week despite elevated April tender prices from steel mills, while export offers in the country sank due to an influx of imported material into Asian markets. Meanwhile, US ferro-silicon prices softened slightly amid low levels of spot activity. Chinese domestic ferro-silicon prices stable despite higher April mill tender prices C...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe remained stable this week ahead of the Easter holiday when reduced trading is expected, sources told Fastmarkets on Wednesday April 17. Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on Wednesday April 17 at ?,?630-640...Read More