Fastmarkets is launching seven new aluminium price assessments today, Thursday April 4 - including calcined pet coke, extrusion and flat-rolled products - to expand our coverage of the aluminium market from upstream to downstream.Following a month-long industry consultation, the new prices will be published at 3-4pm UK time on the first Thursday of the month, starting from April 4. They ...Read More
Fastmarkets is extending the consultation period for its proposal to revise the frequency and specification of its copper concentrate treatment & refining charges (TC/RC) index until April 19.With regard to the frequency, responses to the original consultation agreed that the market is in need of a weekly index.In terms of the specification, the consultation on the base and range of concentra...Read More
Nickel stocks held in Shanghai Futures Exchange-approved warehouses dropped by 10.3% week on week as of Thursday April 4, despite domestic demand from the major downstream consumption sector of stainless steel still being sluggish. Deliverable nickel stocks at SHFE-approved warehouses have fallen by 1,128 tonnes since March 29 to 9,794 tonnes as of this Thursday, which marks the third consecu...Read More
Brazilian automakers produced 695,730 light vehicles, trucks and buses during the first quarter of 2019, down by 0.6% compared with 699,754 units in the same period of 2018, national car manufacturers association Anfavea said on Thursday April 4.March had a weaker performance on an annual basis because of late Carnival festivities in 2019, but the data also showed a year-on-year output decrease in...Read More
US import offers for flat-rolled steel have not gained traction, with broadly stable prices abroad colliding with lower pricing in the domestic market - a trend that narrowed spreads between foreign and US product, market participants said.And in some cases - notably hot-rolled coil - US prices have moved below foreign offers, an inversion of normal market dynamics.Hot-rolled coilFastmar...Read More
Prices for steel rebar in the United States were steady for the moment, but market sentiment has become more mixed on reports that seasonal spring demand had yet to be heard or to provide a widespread boost to marketplace activity.Fastmarkets' assessment of the price of US domestic rebar remained at $35.25-36.50 per hundredweight ($705-730 per short ton) fob mill on Wednesday April 3.At the same t...Read More
Brazilian flat and long steel import volumes dropped year on year in March 2019, mainly due to reduced shipments from China, according to figures released this week by Brazil's foreign trade ministry, MDIC.Imports of flat steel products into the country declined by 5.05% year-on-year in March, to 121,515 tonnes, from 127,981 tonnes.China was the largest provider of flat steel to Brazil, with 93,91...Read More
Prices for domestic rebar and wire rod in Turkey were unchanged over the past seven days, with demand remaining weak, sources said on Thursday April 4. Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,200-3,250 ($615-625) per tonne ex-works, unchanged week on week. Mayoral elections were held across Turkey on March 31, and buyers waiting...Read More
Turkish steel producers remained silent in the scrap market for a third day on Thursday April 4, making no purchases of deep-sea cargoes while continuing to look for political clarity, sources told Fastmarkets.Mills continued to await official confirmation of the results of Turkey's countrywide mayoral elections, which were held on March 31.The main opposition Republican People's Party (CHP) has c...Read More
Fortescue Metals Group (FMG) plans to ship its first cargo of the high-grade iron ore concentrate product from its Iron Bridge Magnetite Project in Western Australia by mid-2022.The project will be able to produce iron ore at a rate of 22 million wet metric tonnes (wmt) per year or 20 million dry metric tonnes (dmt) per year once it reaches full capacity within the 12 months to mid-2023, the miner...Read More
Physical iron ore prices were range-bound on Thursday April 4 after spikes earlier in the week, with China entering a long weekend from Friday to Sunday for the Tomb Sweeping Festival.MB 62% Fe Iron Ore Index: $92.90 per tonne cfr Qingdao, down by $0.18 per tonne.MB 62% Fe Pilbara Blend Fines Index: $92.02 per tonne cfr Qingdao, down by $0.18 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $95.53...Read More
Seaborne coking coal prices were steady on Thursday April 4 ahead of a holiday in China.On the Global Coal trading platform, a May-laycan cargo of premium hard coking coal in the premium segment was offered at $205 per tonne fob Australia during the day, while bids were made at $195 per tonne fob. A day earlier, a similar cargo was traded at $198 per tonne fob Australia. Elsewhere, a...Read More
The official end of the winter heating season in China - the world's largest iron ore consumer - a few days ago has coincided with a pick-up in market interest in the price spreads between different grades of the steelmaking raw material.On Monday April 1, a total of 350 lots of the Singapore Exchange's (SGX) 65% Fe iron ore cfr China futures contract were cleared and traded. The following day, 2,...Read More
China's hot-rolled coil exporters maintained their offers amid domestic price gains on Thursday April 4, despite low demand among overseas buyers.DomesticEastern China (Shanghai): 3,890-3,900 yuan ($580-581) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,840-3,860 yuan per tonne, up 50 yuan per tonneDomestic prices continued to receive support from the strengthening iron ore market ups...Read More
Base metals prices on the London Metal Exchange edged lower during morning trading on Thursday April 4, hindered by poor risk appetite among European investors while a slump in German industrial production continues to indicate economic uncertainty. Over the March period, German industrial orders fell by 4.2% which is the sharpest fall since January 2017. Concerns over the health of the German eco...Read More
Zinc prices on the Shanghai Futures Exchange outperformed with an increase of 1.1% during morning trading on Thursday April 4 amid optimism over US-China trade talks and the metal's solid fundamentals.Hopes of an imminent trade deal between the United States and China had boosted sentiment across commodities markets, including those for the base metals, on Wednesday. "Sentiment in the base metal s...Read More
With the annual Minor Metals Trade Association (MMTA) conference kicking off on Tuesday April 9 in Edinburgh, Scotland, Fastmarkets looks at the price moves in the minor metals complex since last year's conference. There is a general bearish mood in the minor metals complex heading into the conference this year in contrast to last year's multi-year highs set in most of the markets. Most of the min...Read More
Cobalt market participants have been keeping an eye out for potential non-industrial buying, such as stockpiling from China's State Reserve Bureau (SRB), since global metal prices slid to two-year lows at the beginning of this year.A spotlight has been cast on the Chinese bureau ever since it carried out extensive research into major Chinese producers' products and output in the first quarter of t...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-warehouse, $ per lb Click here for Fastmarkets' price assessment for alloy-grade cobalt, in-warehouse, $ per lb In light...Read More
Metals traders in Switzerland are feeling the brunt of a pullback from trade financing activities by banker Credit Suisse, after a 2018 deal turned sour and left the bank less keen to be exposed to the high-risk, low-margin commodities business.The Zurich-based bank is a principal supplier of financing to Switzerland's commodities trading community, from crude oil to copper concentrates to alumini...Read More