India will need to produce or import of 60 million tonnes per year of bauxite by 2030 to meet its aluminium needs, an executive at the International Bauxite, Alumina and Alumininium Society (IBAAS) said during Fastmarkets' 25th Bauxite & Alumina conference in Miami on Wednesday March 27. Domestic Indian production will be dependent on the availability of other raw materials such as caustic soda an...Read More
Improving end-user demand boosted the US premium for 4x4 nickel cut cathode in the week ended Tuesday March 26, but European market participants were bearish leading to a flat market, and China was quiet due to a closed import window. US cut cathode premium moves up again European traders deterred by LME nickel contango China's trade mostly domestic, partly to avail of recent tax cuts U...Read More
The price for rebar produced and delivered in Southern Europe remained flat on Wednesday March 27, while export prices narrowed higher on business toward the top of the range.Fastmarkets' weekly price assessment for export rebar in Southern Europe narrowed upward to ?,?470-490 ($531-554) per tonne fob main ports on Wednesday from ?,?460-490 per tonne previously, while the price assessment for dome...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
Domestic prices for hot-rolled coil (HRC) dropped in Southern Europe due to slow trading, sources told Fastmarkets. Fastmarkets' weekly price assessment for domestic HRC in Southern Europe was ?,?460-480 ($520-542) per tonne ex-works on Wednesday March 27, down from ?,?480-490 per tonne ex-works a week earlier. Italian steelmakers were reported to offer HRC at ?,?460-465 per tonne ex-works to...Read More
The price range for rebar produced and delivered in Northern Europe stayed flat on Wednesday March 27, and traders are becoming increasingly frustrated by the lack of opportunities in the market. Fastmarkets' weekly price assessment for domestic rebar in Northern Europe remained at ?,?540-550 ($610-621) per tonne delivered on Wednesday, with little hope for traders of finding agreeable prices...Read More
Turkish trader and steel service center Galva Metal has started production of cold-rolled coil at its facility in Kartepe, in the north-western Turkish province of Kocaeli, the company told Fastmarkets this week.The unit's capacity for CRC production is 60,000 tonnes per year, in coils of 850-2,000mm width and 0.25-6.00mm gauge.The line started production in January 2019, and has now begun commerc...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
Iron ore shipments from Chilean iron ore and steel producer Compa???-a de Acero del Pac?-fico (CAP) fell by 13.20% in 2018, compared with the previous year, due to logistics problems.Shipments from CAP's 75%-owned mining subsidiary, Compa???-a Minera del Pac?-fico (CMP), reached 14 million tonnes last year, compared with 16.14 million tonnes in 2017, CAP said late last week.The effect of the lower...Read More
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
Seaborne coking coal prices were steady on Wednesday March 27, although Chinese buyers cited the drop in domestic coke prices as the reason for their bearish outlook on the steelmaking raw material's price.On the Global Coal platform, an offer for an April-laycan branded cargo was heard at $209 per tonne fob Australia while a May-laycan unbranded cargo was offered at $205 per tonne fob Australia....Read More
Australian iron ore producer Fortescue Metals Group (FMG) has resumed shipments of its port inventories with the reopening of the Port of Port Hedland this week, the miner said on Wednesday March 27.Operations at the port were halted last Friday due to the approach of Cyclone Veronica. The port reopened on Tuesday morning following an infrastructure assessment - after a closure totaling 92.5 hours...Read More
Following a shift to the 65% Fe fines index as the base price for some pellet contracts, Fastmarkets will begin publishing an implied spot blast furnace pellet premium over its MB 65% Fe Brazilian Iron Ore Index alongside the existing implied premium over its 62% Fe index.Fastmarkets will publish both implied premiums from April 5 - the first Friday of 2019's second quarter. The implied spot pelle...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
Copper premiums in the United States have risen to their highest since January 2014 due to expectations of higher demand prompting gains, while the Asian and European markets dip. US premiums at five-year high Shanghai premiums drop while expected demand influx fails to materialize Supply uptick in Europe means premiums dip in ItalyUS premium hits five-year highThe US copper cathode premium has lo...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
China's hot-rolled coil prices dipped on Wednesday March 27 amid subdued sentiment, with market participants expecting supply to pick up with the lifting of winter production restrictions in April.DomesticEastern China (Shanghai): 3,850-3,860 yuan ($573-575) per tonne, narrowing downward 10 yuan per tonneNorthern China (Tianjin): 3,790-3,800 yuan per tonne, down 10 yuan per tonneTrading activity w...Read More
The following Fastmarkets minor metals prices changed on Wednesday March 27:Minor metalsAntimony MB free market regulus, $/tonne: $7,300-7,600 per tonne from $7,400-7,700Antimony MMTA standard grade II, $/tonne: $7,250-7,550 per tonne from $7,300-7,600Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 44,000-45,000...Read More
Key data from the Wednesday March 27 pricing session in Europe.Key drivers The European ferro-titanium market has been steady over the past week, consolidating earlier gains after hitting a five-month high a week ago. There was persistent consumer demand for prompt shipment, and buying inquiries for second-quarter deliveries. Some sources reckoned that the price of prompt ferro-titanium may reach...Read More