Physical iron ore prices remained relatively stable for the third day in a row on Wednesday March 27, while supply lines from Australia began to recover from the impact of Cyclone Veronica.MB 62% Fe Iron Ore Index: $85.11 per tonne cfr Qingdao, down $0.12 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.23 per tonne cfr Qingdao, down $0.12 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87.10...Read More
China's domestic rebar prices gained some strength on Wednesday March 27 following some gains in the futures market. Domestic Eastern China (Shanghai): 3,830-3,870 yuan ($570-576) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,830-3,880 yuan per tonne, up 10-20 yuan per tonneRebar futures rebounded during the day and stayed above Tuesday's settlement price of 3,700 yuan per tonne fo...Read More
Import prices for stainless steel in East Asia remained steady over the past week amid a lack of trading activity, with sellers maintaining their offer levels despite buying interest being weak due to nickel's downtrend.Fastmarkets' weekly import price assessment for benchmark 304 stainless 2mm trimmed cold-rolled coil in East Asia was unchanged at $2,040-2,130 per tonne cif on Wednesday Marc...Read More
Domestic prices for hollow steel sections in Northern Europe narrowed this week, while market participants failed to agree on the likely future direction of prices, sources told Fastmarkets on Wednesday March 27.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe narrowed by ?,?5 per tonne at the low end of the range o...Read More
Steel H-beam prices in the Northern European market widened this week because of a slowdown in increases to feedstock costs and poorer market conditions, while Southern European prices narrowed, sources told Fastmarkets on Wednesday March 27.The price changes were on the lower ends of the price range in both markets. Prices at the top ends of the ranges were unchanged.Fastmarkets' weekly price ass...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday March 27 that are worth another look.The new London Metal Exchange cash-settled alumina contract will help the exchange to retain its top spot as the global reference for the aluminium industry, according to LME business development analyst Antonio Masiero. While the market moves away from pricing alumina as a percentage of th...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 27. Please click...Read More
Aluminium's three-month price on the London Metal Exchange was up by 1.3% at the close of trading on Wednesday March 27, closing once again at more than $1,900 per tonne although the volumes traded remained moderate, topping the complex at just over 12,000 lots changing hands.The light metal's three-month price fell to less than $1,900 per tonne at Tuesday's close, after trading above that mark si...Read More
The Turkish steel producers returned to the deep-sea scrap markets in the middle of this week and booked four cargoes, sources said on Wednesday March 27.A steel mill in Northern Turkey booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (95:5) at $328 per tonne, 15,000 tonnes of shredded at $331 per tonne and 3,000 tonnes of bonus at $335 per tonne cfr.Another steel mill in the Marmara region...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 March 27 that are worth another look.The new London Metal Exchange cash-settled alumina contract will help the exchange to retain its top spot as the global reference for the aluminium industry, according to LME business development analyst Antonio Masiero. While the market moves away from pricing alumina as a percentage of th...Read More
Aluminium's three-month price on the London Metal Exchange was up by 1.3% at the close of trading on Wednesday March 27, closing once again at more than $1,900 per tonne although the volumes traded remained moderate, topping the complex at just over 12,000 lots changing hands.The light metal's three-month price fell to less than $1,900 per tonne at Tuesday's close, after trading above that mark si...Read More
Comex copper prices rebounded in the midweek session on March 27 morning in the United States, despite disappointing US and Chinese data and with the market experiencing a bout of technical buying.The copper price for May settlement on the Comex division of the New York Mercantile Exchange gained 1.05 cents to $2.8645 per lb. The contract has hovered around $2.90 per lb over the last several weeks...Read More
Base metals prices on the London Metal Exchange consolidated during morning trading on Wednesday March 27, with price action broadly rangebound due to continued concerns over global economic growth. Weaker-than-expected manufacturing data from the United States, China and Europe in March has continued to limit commodity investment, while the Industrial & Commercial Bank of China (ICBC) has in...Read More
The European price of mesh-quality wire rod stayed flat on Wednesday March 27, while producers remained confident that prices would improve soon on the basis of solid fundamentals.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod for both Northern and Southern Europe stayed at ?,?535-550 ($604-621) per tonne delivered on Wednesday, with another very quiet week...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday March 27 that are worth another look.The new London Metal Exchange cash-settled alumina contract will help the exchange to retain its top spot as the global reference for the aluminium industry, according to LME business development analyst Antonio Masiero. While the market moves away from pricing alumina as a percentage of th...Read More
Spent lead-acid battery prices have risen slightly in the United States, reaching a more than four-month high due to sustained domestic and offshore demand, along with tighter supply."Demand from the battery sector is off slightly from the mid-winter period but most plants seem to be operating at a good level," one US buyer source said. "[Flows of] scrap batteries have slowed a bit so prices...Read More
The alumina market could move into a surplus once Norsk Hydro's Alunorte refinery in Brazil increases its capacity and market tightness is alleviated, according to research by Fastmarkets analysts.The refinery, in Brazil's northern state of Par??, has been operating at 50% of its annual capacity since March 2018 due to environmental issues, but could reach 75-80% of capacity within two months of r...Read More
The new London Metal Exchange cash-settled alumina contract will help the exchange to retain its top spot as the global reference for the aluminium industry, according to LME business development analyst Antonio Masiero.Speaking at the Fastmarkets Bauxite & Alumina Conference in Miami on Wednesday March 27, Masiero said that, while the market moves away from pricing alumina as a percentage of the...Read More