A few Chinese hot-rolled coil exporters lowered their prices on Tuesday April 2 to stimulate trading activity despite gains in the domestic market.DomesticEastern China (Shanghai): 3,860-3,870 yuan ($575-577) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,790-3,810 yuan per tonne, up 20 yuan per tonneMills raised their prices during the day in response to the gains in the futures ma...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...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
The latest bids, offers and deals in the global markets for steel billet, slab and bloom....Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More
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
The seaborne coking coal market weakened further on Tuesday April 2 after a lower offer emerged on the Global Coal trading platform.A May-laycan cargo of unbranded premium hard coking coal was offered at $195 per tonne fob Australia on the platform, down $5 per tonne from an offer of $200 per tonne fob Australia on Monday, sources told Fastmarkets."There are a lot of [premium mid-vol hard coking c...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
Brazilian iron ore exports dropped by 25.94% year on year in March to their lowest level in six years, according to the country's foreign trade ministry, MDIC.The country exported 22.18 million tonnes of iron ore last month compared with 29.95 million tonnes in the same period last year, MDIC said on Monday April 1.Volumes also fell by 23.33% from 28.93 million tonnes the previous month.The March...Read More
London Metal Exchange base metal prices fell on morning trading on Wednesday April 2 due to longs continuing to sell into yesterday's China-PMI based rally.At $6,443 per tonne, the LME's three-month copper price is down by $27 per tonne against yesterday's 5pm close, while three-month zinc is also lower, by $36 at $2,896 per tonne. Yesterday, cash zinc prices on the LME traded over...Read More
Stable contangoes on the London Metal Exchange helped push the Rotterdam duty-unpaid aluminium premium to its highest since June 28, 2018.Fastmarkets assessed the benchmark Rotterdam P1020 premium at a near 10-month high of $87-97 per tonne Monday April 1, up $2 per tonne from last Friday's assessment of $85-95 per tonne. Multiple deals were reported on Monday at premiums of $90-100 per tonne, whi...Read More
Based on initial research and a consultation among market participants, Fastmarkets proposes to launch a weekly assessment of electrolytic manganese flake, 99.7% basis, fob China, $/tonne. The introduction of the price will expand Fastmarkets' current price coverage for electrolytic manganese flake, which tracks the Chinese manganese flake market on a regular basis. The proposed new assessment wil...Read More
Brazilian miner Vale's revenue from its cobalt business rose in 2018 despite reduced sales thanks to high cobalt prices, according to its production results released on Wednesday March 27. Vale's cobalt sales volumes totaled 4,974 tonnes in 2018, down from 5,013 tonnes a year before. But cobalt revenues were higher year on year at $313 million last year compared with $258 million in 2017. Cobalt p...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
Three-month base metals prices on the London Metal Exchange were slightly firmer during morning trading on Tuesday April 2, up by an average of 0.2% but still down from Monday's highs.Nickel once again led the way with a 0.5% rise, this after a 0.9% rise on Monday, with the metal's three-month price recently quoted at $13,180 per tonne, up from Monday's close at $13,115 per tonne.Copper, aluminium...Read More
Three-month base metals prices on the London Metal Exchange were firmer during morning trading on Wednesday April 2, up by an average of 0.4% – further evidence of a recovery in China's economy seems to be providing support. Nickel once again led the way with a 0.7% rise on Wednesday, with the metal’s three-month price recently quoted at $13,255 per tonne, up from Tuesday’s clo...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points in pre-opening trade. Index futures were responding to news that a trade agreement between China and the U.S. is "90% complete". The Shanghai Composite Index added another 1.24% to 3216.30.Index futures were virtually unchanged following release of the March ADP Private Employment report released at 8:15 AM E...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Monday April 1, supported by strength in both the Chinese and United States' manufacturing data despite continued market concerns over the health of the global economy. Despite reported strength from the manufacturing sector, US retail sales were weaker than expected in February at -0.4%, down from...Read More
The US copper price built on Friday's momentum with the base metals complex receiving a boost from strong Chinese manufacturing data on Monday April 1.The copper price for May settlement on the Comex division of the New York Mercantile Exchange rose by 1.25 cents to $2.9520 per lb. Overnight, the Chinese official manufacturing purchasing managers' index (PMI) rose to 50.5 in March, beating the exp...Read More
Copper concentrate treatment and refining charges (TC/RCs) for Asia Pacific continued to drop in the second half of March in the absence of Las Bambas output, while Chinese smelters are prepared to accept significantly lower spot TCs for the second quarter this year. Fastmarkets' spot copper concentrate index for Asia Pacific was calculated at $66.7 per tonne/ 6.67 cents per lb on March 25, d...Read More