Exporters of Chinese hot-rolled coil lowered their prices slightly on Tuesday March 26 on sparse trading, while those in China's domestic market were remained largely steady amid slowing downstream demand.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($573-576) per tonne, unchangedNorthern China (Tianjin): 3,800-3,810 yuan per tonne, narrowing downward 10 yuan per tonneWhile prices have been...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 March 26.Local rebar producers rolled over their domestic prices for rebar on March 13 and have not announced any changes since then.Rebar importsOman was offering rebar to the UAE at $530-540 per tonne cpt, but no new...Read More
China's domestic rebar prices resumed their downward trend on Tuesday March 26 after holding steady for a day, with bearish sentiment brought about by the upcoming decrease of value-added tax in the country weighing on the market. Domestic Eastern China (Shanghai): 3,800-3,850 yuan ($566-573) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,820-3,860 yuan per tonne, down 10-20 yuan...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. ...Read More
Steelmakers in Turkey continued to stay out of the deep-sea scrap market on Tuesday, March 26, due to the volatile Turkish lira, sources told Fastmarkets.Having slumped to TRY100 to $17.41 on Monday - compared with TRY100 to $18.31 on March 18 - the lira regained some ground following an intervention by the Central Bank of the Republic of Turkey (TCMB). The currency had been de...Read More
Physical iron ore prices stayed rangebound for a second day on Tuesday March 26 as market participants waited on news of the full impact of Cyclone Veronica on Australian iron ore operations.MB 62% Fe Iron Ore Index: $85.23 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.35 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87....Read More
Trading activity in the CIS export billet market enlivened toward the end of March amid renewed demand from North Africa, and Algeria in particular.An Algerian long steel producer booked two lots of Russian billet, each of 20,000 tonnes, scheduled for shipment in April at $492 per tonne cfr.The deals were not included in the calculation of Fastmarkets' CIS export...Read More
China's domestic rebar prices resumed their downward trend on Tuesday March 26 after holding steady for a day, with bearish sentiment brought about by the upcoming decrease of value-added tax in the country weighing on the market. Domestic Eastern China (Shanghai): 3,800-3,850 yuan ($566-573) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,820-3,860 yuan per tonne, down 10-20 yuan...Read More
The high-grade manganese ore index fell on Friday March 22 after sellers re-entered the market offering at a price stable with last month; in alloys, the Chinese ferro-manganese price rose following the recent recovery in the country's silico-manganese market. 44% manganese ore index retreats after previous climbDeals for 37% material concluded at higher levelsSilico-manganese prices rise in China...Read More
Norsk Hydro's Alunorte alumina refinery, located in Brazil's northern state of Par??, is expected to operate at 75-80% of its capacity two months after the receipt of approval from the Brazilian federal court in Bel?(C)m, Norsk Hydro Brazil's executive vice president of bauxite and alumina said.According to John Thuestad, this approval, which will be debated at an April 4 meeting between Hydro and...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 26.Please click...Read More
Nickel's three-month price on the London Metal Exchange was higher at the close of trading on Tuesday March 26, at $13,105 per tonne, with dip-buying emerging despite continued strength in the US dollar index. The US dollar index was just under the psychological level of 97. Total LME nickel stocks remain at their lowest level in seven years at 183,582 tonnes, with just 116,292 tonnes on-warr...Read More
The London Metal Exchange has announced a six-month suspension of listing fees for new cobalt brands on the exchange in a note to members on Tuesday March 26, amid emerging liquidity concerns from producers."[A] number of cobalt producers have indicated a desire to list their brand on the LME," the exchange said in the note, "but have expressed concerns that, in the event that the 'user choice' mo...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday March 26 that are worth another look.The London Metal Exchange has announced a six-month suspension of listing fees for new cobalt brands on the exchange in a note to members on Tuesday March 26 amid emerging liquidity concerns from producers. There are no concerns surrounding the availability of bauxite to meet ongoin...Read More
Nickel's three-month price on the London Metal Exchange was higher at the close of trading on Tuesday March 26, at $13,105 per tonne, with dip-buying emerging despite continued strength in the US dollar index. The US dollar index was just under the psychological level of 97. Total LME nickel stocks remain at their lowest level in seven years at 183,582 tonnes, with just 116,292 tonnes on-warr...Read More
The London Metal Exchange has announced a six-month suspension of listing fees for new cobalt brands on the exchange in a note to members on Tuesday March 26, amid emerging liquidity concerns from producers."[A] number of cobalt producers have indicated a desire to list their brand on the LME," the exchange said in the note, "but have expressed concerns that, in the event that the 'user choice' mo...Read More
The United States' copper market was modestly lower on Tuesday March 26 morning amid a lack of trading action and industry participants seeking fresh market catalysts. The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down 0.30 cents to $2.8535 per lb. Copper trading has been fairly quiet over the past several weeks, with modest global growth...Read More
Fastmarkets has extended the consultation period for a proposed change to the specification of its domestic Chinese indium price assessment until Tuesday April 23.On February 25, Fastmarkets proposed to increase the minimum tonnage of its domestic Chinese indium price assessment to 50 kilograms to better reflect the dynamics of the market.The goal of a minimum tonnage is to exclude any deal that,...Read More
Steelmakers in Turkey continued to stay out of the deep-sea scrap market on Tuesday, March 26, due to the volatile Turkish lira, sources told Fastmarkets.Having slumped to TRY100 to $17.41 on Monday - compared with TRY100 to $18.31 on March 18 - the lira regained some ground following an intervention by the Central Bank of the Republic of Turkey (TCMB). The currency had been de...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday March 26 that are worth another look.The London Metal Exchange has announced a six-month suspension of listing fees for new cobalt brands on the exchange in a note to members on Tuesday March 26 amid emerging liquidity concerns from producers. There are no concerns surrounding the availability of bauxite to meet ongoin...Read More