Fastmarkets proposes to amend the specifications of its benchmark in-warehouse Rotterdam price assessments to incorporate grade-1 and grade-2 Norilsk cut cathodes within its list of accepted cobalt brands. According to preliminary market feedback, grade-1 and grade-2 cobalt cut cathodes produced by Norilsk are now commonly accepted by consumers of cobalt and are regularly traded in the spot market...Read More

The steel mills in Turkey have continued to book deep-sea cargoes for June deliveries, although prices were still weakening, sources told Fastmarkets on Tuesday April 30.A steel mill in the Marmara region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (90:10) at $306 per tonne, 13,000 tonnes of shredded at $309 per tonne and 5,000 tonnes of bonus...Read More

Base metals prices on the London Metal Exchange were for the most part treading water this morning, Tuesday April 30, while the market digests the disappointing Chinese data released earlier. This, combined with the fact that many Asian market participants are away for holidays this week, is likely to lead to subdued trading - but reduced liquidity could also lead to increased volatility.China's m...Read More

Glencore produced 10,900 tonnes of cobalt in the first quarter of 2019, up 56% from 7,000 tonnes produced during the same period a year ago. The increase was largely due to the ramp-up at the Katanga mine in the Democratic Republic of Congo. A total of 3,500 tonnes of cobalt in hydroxide was produced at the mine in the first quarter compared with 500 tonnes in the January to March quarter of 2018....Read More

Fastmarkets proposes to amend the specifications of its benchmark in-warehouse Rotterdam price assessments to incorporate grade-1 and grade-2 Norilsk cut cathodes within its list of accepted cobalt brands. According to preliminary market feedback, grade-1 and grade-2 cobalt cut cathodes produced by Norilsk are now commonly accepted by consumers of cobalt and are regularly traded in the spot market...Read More

Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have been mostly stable over the past week due to limited demand, sources told Fastmarkets on Tuesday April 30.End-user demand has been poor recently, with buyers unwilling to book material because the market was not expected to improve any time soon.And next week will be the start of the Islamic holy month of R...Read More

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were mostly stable during the week ended on Tuesday April 30 due to lackluster demand in overseas markets.Buying interest in Southeast Asia was muted over the week due to the uncertainty caused by the elections in Indonesia and the Philippines, a market source in Tianjin said. Cold rolled coilFastmarkets MB's weekly export p...Read More

The Tuesday Market Minute Global stocks retreat as investors react to weaker-than-expected China manufacturing data and a disappointing first quarter earnings report from tech giant Alphabet.U.S.-China trade talks resume in Beijing, with reports suggesting a deal remains stuck on the cancellation of U.S. tariffs and enforcement mechanisms placed on China.European stocks drift lower despite...Read More

China's hot-rolled coil prices strengthened further on Tuesday April 30 after word about possible steelmaking restrictions in the steelmaking hub of Tangshan circulated in the market.DomesticEastern China (Shanghai): 4,050-4,060 yuan ($601-603) per tonne, up 50 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, up 20 yuan per tonneA domestic steel consultancy reported that Tangsha...Read More

The European Commission (EC) will halt its anti-dumping investigation into imports of welded steel tubes, pipes and hollow profiles, whether of square or rectangular cross-section, originating from Macedonia, Russia and Turkey, market participants told Fastmarkets on Tuesday April 30.The EC opened the case on September 28 last year after the defence committee of the Welded Steel Tubes Industry of...Read More

Turkey's biggest steel producer, Erdemir Group, has reported earnings before interest, taxes, depreciation and amortization (Ebitda) for the first three months of 2019 of TRY1.733 billion ($291.3 million*).This was up by 3.82% from TRY1.669 billion for the corresponding period in 2018.The group sold 1.888 million tonnes of flat steel products in January-March 2019, down by 2.53% from the 1.937 mil...Read More

Prices for hot-rolled coil (HRC) in China may not have room to move much higher because a further 31.05 million tonnes per year of capacity will come onstream in 2019, market sources in the country told Fastmarkets this week.At least 13 HRC production lines were scheduled for start-up in 2019, and two of these started operations last month at the Hebei Zongheng Iron & Steel Group in northern China...Read More

The steel mills in Turkey have continued to book deep-sea cargoes for June deliveries, although prices were still weakening, sources told Fastmarkets on Tuesday April 30.A steel mill in the Marmara region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (90:10) at $306 per tonne, 13,000 tonnes of shredded at $309 per tonne and 5,000 tonnes of bonus...Read More

Physical iron ore trading slowed on Tuesday April 30 ahead of the May Day holiday in China on May 1-4, while prices strengthened on news of production restrictions on mills in Tangshan.MB 62% Fe Iron Ore Index: $94.17 per tonne cfr Qingdao, up $0.12 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.20 per tonne cfr Qingdao, up $0.37 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $97.27 per ton...Read More

Fastmarkets has amended its direct reduced (DR)-grade iron ore pellet premium Middle East reference.Following a one month consultation period and from April 30, Fastmarkets will use its 65% Fe Brazilian Fines Index, cfr Qingdao (MBIOI-65-BZ) as the base price for its direct reduced (DR)-grade iron ore pellet premium Middle East reference.Previously, Fastmarkets' 62% Fe Fines Index, cfr Qingdao (MB...Read More

Domestic rebar producers in the UAE maintained their prices this week while the cost of rebar and billet imports edged up after buyers accepted higher offers due to low stock levels, sources told Fastmarkets on Tuesday April 30.Domestic rebar Local rebar producers in the UAE kept their prices unchanged for May production material, with demand expected to remain poor due to the Islamic holy month o...Read More

China's domestic rebar prices moved up on Tuesday April 30 amid expectations that local authorities in the steelmaking hub of Tangshan would implement a fresh round of production curbs in May.Domestic Eastern China (Shanghai): 4,090-4,140 yuan ($607-615) per tonne, up 40 yuan per tonneNorthern China (Beijing): 3,990-4,030 yuan per tonne, up 30-40 yuan per tonneNews that local authorities in Tangsh...Read More

China's major mills raised their daily output rates for crude steel in mid-April on good demand and healthy profit, while their finished steel inventories also increased.Members of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 2.01 million tonnes per day during the second 10 days of April, up 2.6% from 1.96 million tpd in early April, according to data releas...Read More

The premium paid for European nickel briquettes fell to its lowest level since July 11, 2017 on April 30, amid extremely weakened demand from the stainless steel sector for the material, while European off-warrant supply remains healthy and facilitates the decline.End-user stainless steel demand, which uses nickel and has a direct impact on its consumption, is not perceived as weak by the market,...Read More

German metals distributor Kl??ckner expects its 2019 earnings to be negatively affected by "declining demand" and weaker steel prices, it said on Tuesday April 30."Against the background of unexpected... negative price effects and declining demand developments - especially in the [EU] automotive business," Kl??ckner expects its operating income to fall to ?,?50-60 million for the second quarter, d...Read More