An overview of the noble alloys markets and the reasons for any price moves.Read More
An overview of the minor metals markets and the reasons for any price moves.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
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 17.Please click...Read More
The lead price could rebound above $2,000 per tonne and even touch $2,100 per tonne in the next six months because it is oversold and supply and demand conditions remain tight this year, Macquarie bank said on Tuesday April 16. "The recent decline in the lead price is overdone and was on the back of a large re-warranting in Asia rather than a change in fundamentals," Macquarie metals strategist Vi...Read More
The Comex copper market jumped up in US morning trading on Wednesday April 17 amid positive reaction to a combination of better-than-expected Chinese economic news and a softer dollar.The copper price for May settlement on the Comex division of the New York Mercantile Exchange surged 5.95 cents to $2.99 per lb. At last glance, the dollar index was at 96.95, down 0.16% and just below the psychologi...Read More
Daily PDFs will be downloadable until Friday April 19. After that, because of the UK's Easter holidays, the next daily PDF will be downloadable on Wednesday April 24.Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama declined by 7.7% month-on-month in September, data released by major Japanese trading house Marubeni Corp on Wednesday April 17 showed.Total aluminium stocks at the three ports totaled 295,900 tonnes at the end of March, compared with 319,700 tonnes at the end of February, reversing the increase seen from...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 European Commission (EC), under its EU Merger Regulation, has approved Liberty House Group as a suitable purchaser of several steel plants put up for sale by ArcelorMittal, the Commission said on Wednesday April 17.The assets have been sold under commitments made by ArcelorMittal to the EC when it bought Italian steelmaker Ilva.Assets included within the divestment package are a steel plant in...Read More
The Iranian export billet price has remained firm over the past week, while the slab price has gained $5-10 in recent sales despite pessimism in the global steel market, sources told Fastmarkets."There may be some pressure on Iranian prices in the future, but not immediately," one trader said, referring to successful sales in the previous weeks. "Iranian mills have full order books through early J...Read More
The number of new passenger car registrations in the EU decreased by 3.93% year-on-year in March 2019.This made it the seventh consecutive month of decline, the European Automotive Manufacturers Assn (ACEA) said on Wednesday April 17.New car sales in Europe totalled 1,722,442 units in March 2019, down from 1,792,880 vehicles sold in the corresponding month of 2018."Demand decreased in all the majo...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
Stainless steel scrap prices in the United States are beginning to edge back slightly, with London Metal Exchange cash nickel values showing little movement since the beginning of March."Prices have not made significant moves for weeks as LME nickel [values] have traded in an unusually narrow range with supply and demand fundamentals firmly in place," one US dealer source said."I think the market...Read More
Turkey has maintained steady but modest ferrous scrap purchases from suppliers in the United States but has been dealt a blow by Egypt on the steel front.Egypt has imposed a duties of 25% on imports of rebar and 3-15% on billet imports from Turkey effective Monday April 15. Turkey is also subject to quotas in the European Union and tariffs in the US.Rebar produce...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
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: Iron oreRio Tinto, bilateral sale,...Read More
Chinese interest continued to drive up the seaborne coking coal market on Wednesday April 17, with sellers issuing higher offers in response to recent transactions being concluded above prevailing levels.A cargo of lower-ranked premium hard coking coal, scheduled for loading in April 20-30, was sold at $199 per tonne cfr China during the day to a steelmaker in southern China, sources told Fastmark...Read More