The US copper market began trading in the red on Monday April 22, with market participants bearish despite a softer dollar and growing optimism of a breakthrough in American and Chinese trade talks.The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down by 1.8 cents to $2.902 per lb. "Risk sentiment has had a negative start despite reports Chi...Read More
Physical iron ore prices rebounded on Monday April 22 amid gains in the steel and futures markets, after declining over consecutive days last week.MB 62% Fe Iron Ore Index: $94.48 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.26 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.75 per tonne cfr Qingdao, up $2.73 per tonne. MB...Read More
China's hot-rolled coil prices regained some strength on Monday April 22 on moderate trading activity amid stable demand.DomesticEastern China (Shanghai): 4,010-4,020 yuan ($598-600) per tonne, up 40-50 yuan per tonneNorthern China (Tianjin): 3,950-3,960 yuan per tonne, up 50 yuan per tonneTransaction prices gained traction during the day after mills raised their offers.Trading activity was descri...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 22 that are worth another look.The US copper market began trading in the red on Monday April 22, with market participants bearish despite a softer dollar and growing optimism of a breakthrough in American and Chinese trade talks. Brazilian steelmaker and miner Usiminas maintained its production target of 7.5-8 mil...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More
When the London Metal Exchange amended its policies related to its physical delivery network a few years ago, it overlooked one key thing. The issue centers on LME's linked load-in/load-out (LILO) rule, which operates by linking the amount of metal a warehouse loads in to the amount it is obligated to load out for warehouses that have queues of over 50 days.The rule changes were part of package of...Read More
Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More
Physical iron ore prices rebounded on Monday April 22 amid gains in the steel and futures markets, after declining over consecutive days last week.MB 62% Fe Iron Ore Index: $94.48 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.26 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.75 per tonne cfr Qingdao, up $2.73 per tonne. MB...Read More
China's hot-rolled coil prices regained some strength on Monday April 22 on moderate trading activity amid stable demand.DomesticEastern China (Shanghai): 4,010-4,020 yuan ($598-600) per tonne, up 40-50 yuan per tonneNorthern China (Tianjin): 3,950-3,960 yuan per tonne, up 50 yuan per tonneTransaction prices gained traction during the day after mills raised their offers.Trading activity was descri...Read More
The seaborne coking coal spot market was quiet on Monday April 22 amid thin trading, though bullish sentiment in China kept prices supported."Traders are holding on to their cargoes because they are waiting for end-user demand to cave in to higher prices. The Chinese steel market is expected to strengthen in the April-June quarter," a northeastern Chinese end-user source said.He thinks there is li...Read More
The seaborne coking coal spot market was quiet on Monday April 22 amid thin trading, though bullish sentiment in China kept prices supported."Traders are holding on to their cargoes because they are waiting for end-user demand to cave in to higher prices. The Chinese steel market is expected to strengthen in the April-June quarter," a northeastern Chinese end-user source said.He thinks there is li...Read More
China's domestic rebar prices posted strong gains on Monday April 22 amid gains in the futures market, though concerns have emerged over an increase in supply.Domestic Eastern China (Shanghai): 4,120-4,150 yuan ($614-619) per tonne, up 60-70 yuan per tonne Northern China (Beijing): 4,050-4,080 yuan per tonne, up 40-50 yuan per tonneRising futures improved sentiment in the spot market during the da...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 22 that are worth another look.The US copper market began trading in the red on Monday April 22, with market participants bearish despite a softer dollar and growing optimism of a breakthrough in American and Chinese trade talks. Brazilian steelmaker and miner Usiminas maintained its production target of 7.5-8 mil...Read More
A summary of South32's production results for its financial third quarter ended March 31, 2019, as well as its full-year production guidance.In brief Global diversified mining and metal company South32 raised its 2019 production guidance for manganese ore to 5,630,000 wet metric tonnes, up 89,000 tonnes from 5,541,000 tonnes in financial year 2018, in response to favorable demand in the market. Th...Read More
Fastmarkets MB's bi-weekly Shanghai-bonded copper stock assessment scheduled for Monday April 22 will be published on Tuesday April 23 instead due to the Easter Monday holiday.It is a national holiday in London from Friday April 19 to Monday April 22. For any inquiries please contact Ellie Wang at ellie.wang@fastmarkets.com with the subject line: "Re: Shanghai-bonded copper stock assessment"Read More
Base metals stocks, barring those for lead, held in Shanghai Futures Exchange warehouses declined in the week ended Friday April 19.Copper stocks at SHFE-approved sheds fell by 3.4% or 8,444 tonnes last week to total 236,734 tonnes on April 19, marking the third consecutive weekly decline. Stocks had totaled 261,412 tonnes on March 29.The drawdown in red metal stocks follows the start of the secon...Read More
Base metals traded on the Shanghai Futures Exchange exhibited mixed moves during morning trading on Monday April 22, with volumes limited following the Easter holiday weekend.With a number of markets closed in observance of Easter Monday and the dollar index in relative high ground, the SHFE base metals complex could find no clear direction; copper, zinc and tin prices were weaker, while those for...Read More
Brazilian flat steel producer Usiminas plans to invest around 60-70 million Reais ($15-18 million) this year in preparations for maintenance work at its No3 blast furnace in Ipatinga city, in the southeastern Minas Gerais state.The reform is expected to be made in 2020-21, according to the company, but Usiminas is already preparing for expenses with projects and equipment acquisition."After the bl...Read More
Cold-rolled coil and coated steel prices in the United States edged down over the past week, due partly to the spillover effect from a decline in hot-rolled coil to below $34 per hundredweight ($680 per short ton) last week.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil fell by 50 cents to $41.50 per cwt on Thursday April 18 from $42 per cwt the prior week.The domestic...Read More
Prices for most foreign flat-rolled steel imported into the United States have continued to trend lower, with offshore material becoming less attractive due to falling domestic prices.That's especially true in the case of hot-rolled coil, where US prices have fallen below $680 per short ton ($34 per hundredweight) for the first time since late February."In today's market, it's hard to put a deal t...Read More