Physical iron ore prices continued to rise on Tuesday April 2, closing in on $90 per tonne with yet more seaborne supply disruptions reported.MB 62% Fe Iron Ore Index: $89.89 per tonne cfr Qingdao, up $1.20 per tonne. MB 62% Fe Pilbara Blend Fines Index: $89.01 per tonne cfr Qingdao, up $1.20 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $92.14 per tonne cfr Qingdao, up $1.91 per tonne. MB 58%...Read More
BHP has estimated an initial production reduction of 6 million-8 million tonnes of iron ore on a full-capacity basis due to damage caused by a cyclone that hit Western Australia last month.Isolated flooding at BHP's Western Australia Iron Ore (WAIO) site and along sections of the rail line leading into Port Hedland has limited train transportation and other operations at the port, the miner s...Read More
China's domestic rebar prices picked up some strength on Tuesday April 2 on gains in the futures market and good demand, though export offers fell with mills attempting to secure more orders from abroad. Domestic Eastern China (Shanghai): 3,850-3,900 yuan ($574-581) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,860-3,900 yuan per tonne, up 20 yuan per tonneGains in the futures market...Read More
Russian aluminium producer Rusal is again shipping fresh primary aluminium to the United States and Europe following the removal of sanctions against the company in January, according to chief executive Evgenii Nikitin, Rusal's press office told Fastmarkets on Tuesday April 2."The volume [of supplies to Europe and the US] has been fully restored on aluminium. It has not been resumed on alloys, tho...Read More
Nickel was the standout performer among base metals in trading on the London Metal Exchange on Tuesday April 2, with an increase of $35 per tonne making it the only base metal not to show a fall.Tin was one of the worst performers, with its price going down by $220 per tonne to $21,200 per tonne in Tuesday trading.The price of lead fell by $20.50 per tonne to $1,990.50 per tonne, making it one of...Read More
Fastmarkets has corrected its assessment of the premium for aluminium P1020, fca South Korea, duty-free, which was published incorrectly on Tuesday April 2 due to an error.The premium for P1020 in South Korea was incorrectly given as $110-130 per tonne. The correct figure was $115-135 per tonne, unchanged from the previous assessment on March 26. This was correctly displayed in the pricing rationa...Read More
The prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have increased over the past week, with levels of demand remaining low but consistent, Fastmarkets heard on Tuesday April 2.Demand among end-users has been weak, so buyers were unwilling to place orders for large tonnages, sources told Fastmarkets.UAEChina-origin hot-rolled coil (HRC) was on offer to the UAE...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday April 2 that are worth another look.China's threshold for electric vehicles to receive subsidies in 2019 has been increased again while the value of subsidies has been cut sharply, which was expected by the majority of market participants who are now cautiously checking the resulting impact on the battery supply chain....Read More
Hermes Belous Freire left his role as sales account manager for cobalt products at Norilsk Nickel on Monday April 1, Fastmarkets understands. Cobalt sales will be handled by Norilsk's nickel...Read More
The threshold for electric vehicles (EVs) to receive subsidies in 2019 has been increased again while the value of subsidies has been cut sharply, which was expected by the majority of market participants who are now cautiously checking the resulting impact on the battery supply chain.Subsidies for EVs with a driving range below 250km will be phased out after a transitional period between March 26...Read More
Nickel was the standout performer among base metals in trading on the London Metal Exchange on Tuesday April 2, with an increase of $35 per tonne making it the only base metal not to show a fall.Tin was one of the worst performers, with its price going down by $220 per tonne to $21,200 per tonne in Tuesday trading.The price of lead fell by $20.50 per tonne to $1,990.50 per tonne, making it one of...Read More
Comex copper prices dipped on Tuesday April 2 morning in the United States amid a stronger dollar, weak domestic data and a lack of follow-through buying from the weekend.The copper price for May settlement on the Comex division of the New York Mercantile Exchange fell 1.30 cents to $2.9115 per lb.A strong performance by the US dollar has dampened investors' appetite for commodities this morning,...Read More
Comex copper prices dipped on Tuesday April 2 morning in the United States amid a stronger dollar, weak domestic data and a lack of follow-through buying from the weekend.The copper price for May settlement on the Comex division of the New York Mercantile Exchange fell 1.30 cents to $2.9115 per lb.A strong performance by the US dollar has dampened investors' appetite for commodities this morning,...Read More
Turkish deep-sea scrap import prices fell sharply after confirmation of transactions done late last week, sources said on Tuesday April 2.A steel producer in the Marmara region booked a European cargo, comprising 22,000-23,000 tonnes of HMS 1&2 (80:20) at $308 per tonne and 5,000 tonnes of bonus at $318 per tonne cfr on Thursday March 28.And a mill in the Izmir region booked a UK cargo, comprising...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday April 2 that are worth another look.China's threshold for electric vehicles to receive subsidies in 2019 has been increased again while the value of subsidies has been cut sharply, which was expected by the majority of market participants who are now cautiously checking the resulting impact on the battery supply chain....Read More
Sales volumes for Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) totaled 405,000 tonnes in 2018, an increase from 367,000 tonnes in the previous year, parent company Votorantim said in its earnings report published on Tuesday April 2.The figure was comprised of primary aluminium and downstream products. CBA makes ingots, billets, bars, foils, sheets and sections.Most of the g...Read More
Hermes Belous Freire left his role as sales account manager for cobalt products at Norilsk Nickel on Monday April 1, Fastmarkets understands. Cobalt sales will be handled by Norilsk's nickel...Read More
Mitsui Kinzoku, Japan's major zinc producer, plans to produce 112,600 tonnes of zinc metal in the first half of its financial-year 2019 (April-September), an increase of 9.4% year on year, the company said on Monday April 1. The company's actual zinc production in the second half of fiscal-year 2018 was down 4.2% from...Read More
Prices for steel rebar and billet in the United Arab Emirates were again unchanged this week as a result of continuing moderate demand, sources told Fastmarkets on Tuesday April 2.Domestic rebarLocal rebar producers in the UAE kept their prices unchanged for May production, with demand expected to stay weak because Ramadan starts early in the month.The country's largest producer, Emirates Steel, h...Read More
Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) were largely stable again during the week to Tuesday April 2 amid thin trading due to low selling interest and weak overseas demand.In particular, buying interest from Southeast Asia was muted due to the recently concluded election in Thailand as well as the upcoming elections in Indonesia and the Philippines, Ch...Read More