Seaborne iron ore prices continued to slide on Wednesday April 10, while the seaborne spot market remained subdued with no open tenders being issued by the major miners.MB 62% Fe Iron Ore Index: $94.61 per tonne cfr Qingdao, down $0.24 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.73 per tonne cfr Qingdao, down $0.24 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.57 per tonne cfr Qingd...Read More
Iranian steel billet and slab export prices fell in the week to Wednesday April 10 with new deals reported, but prices could soon rise in the wake of widespread flooding across the country.No production cuts have been confirmed by steel mills as yet, a trader told Fastmarkets, but he said the floods would be a reason for price increases. However, whether or not Iran's...Read More
The second decade of the 21st century has been marked by a drastic shift of powers in the global economy, which is opening new opportunities for business, professor Nuria Mas, head of economics department at IESE Business School, said at the 80th meeting of the International Rebar Producers & Exporters Association (Irepas) in Barcelona on Monday April 8. "If in 1980, half of the global GDP was com...Read More
China's domestic rebar prices dropped slightly on Wednesday April 10 due to softer demand. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($596-603) per tonne, down 50-70 yuan per tonneNorthern China (Beijing): 3,940-3,980 yuan per tonne, down 10-20 yuan per tonneBuyers have been cutting their procurement rates since Tuesday due to recent price increases. They continued to limit their purchas...Read More
Key data from the Wednesday April 10 pricing session in Europe.Key driversThe European ferro-titanium price moved up in the past week, while scrap markets also increased amid firm fundamentals that have fueled a price rally since March. Current business conditions are expected to persist through April and into May. There were reports that a major German steelmaker booked 150 tonnes of alloy for sh...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe remained stable this week although feedstock prices continued to go down, sources told Fastmarkets on Wednesday April 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on April 10 at ?,?630-640 ($710-721) per tonne delivered...Read More
Turkish pipe export prices have continued to slip because of the increased supply available as a result of safeguarding import quotas imposed by Europe, sources said on Wednesday April 10.Fastmarkets' monthly export price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, fell to $570-590 per tonne fob on Wednesday, from $590-600 per tonne on March 13.The mills in the...Read More
A summary of Vedanta's production results for the fiscal year ended on March 31, 2019.In brief Vedanta's Indian copper output decreased sharply by 78% due to the Tuticorin smelter's shutdown after protests against its plans to double capacity reached fever pitch toward the end of March.Custom copper volumes at the company's Zambian projects decreased by 22% to 87,000 tonnes over the 2019 financial...Read More
The price for rebar produced and delivered in Southern Europe has narrowed downward by ?,?5 per tonne over the past week amid poor demand, market participants told Fastmarkets on Wednesday April 10.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?485-510 ($547-575) per tonne delivered on Wednesday, down from ?,?485-515 per tonne delivered on April 3.Market part...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday April 10, with three-month lead prices down by 1.5% while zinc was the only metal trading in positive territory. Volumes were thin over the day's trading, with copper's 12,735 lots topping the complex by the close, while a marginal uptick in the dollar index back above the psychologically signifi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 10. Please click...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe remained stable this week although feedstock prices continued to go down, sources told Fastmarkets on Wednesday April 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on April 10 at ?,?630-640 ($710-721) per tonne delivered...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 10 that are worth another look.Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, DCDB Group managing partner Emily...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday April 10, with three-month lead prices down by 1.5% while zinc was the only metal trading in positive territory. Volumes were thin over the day's trading, with copper's 12,735 lots topping the complex by the close, while a marginal uptick in the dollar index back above the psychologically signifi...Read More
The Comex copper price inched lower in morning trading on Wednesday April 10 with a stronger dollar and lack of fresh data weighing on the base metals complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped by 1.05 cents to $2.9235 per lb. "While we view copper's fundamentals as likely to tighten in the second half of the year, continued sellin...Read More
The queue for aluminium at London Metal Exchange-approved warehouses in Port Klang, Malaysia, operated by Istim has almost halved over the past month to 121 days as of the end of March. This is down from the 229-day queue registered at the end of February, according to LME data released on Wednesday April 10. The extended wait for deliveries originally built up due to mass cancelations of LME alum...Read More
A pick up in demand has effected universal upward pressure on nickel premiums in the United States, with increased liquidity in the European full-plate market pushing premiums up, while all Chinese premiums were trading flat amid the closed import window.Premiums tick up in fairly brisk US tradeUS premiums moved up for both nickel briquettes and 4x4 cut-cathodes in a busy domestic spot market, wit...Read More
The European domestic price of mesh-quality wire rod remained flat week on week on Wednesday April 10, with continued price stability expected over the coming weeks, market participants told Fastmarkets.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was unchanged at ?,?535-550 ($603-620) per tonne delivered on Wednesday."We have filled our order books fo...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 10 that are worth another look.Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, DCDB Group managing partner Emily...Read More
Three major global trends could together create a need for more than 100 million tonnes of copper between now and 2040, transforming the market, according to the chief executive officer of Atlantic Copper.These trends were urbanization and household electrification, a changing energy mix, and the use of electric vehicles, Javier Targhetta told CRU's 18th World Copper conference in Santiago, Chile,...Read More