Participants in the long steel market in the European Union were hoping for price stability through April after recent sluggish demand and cautious buying activity, sources within the sector told Fastmarkets this week."The Spanish market is weak in price terms but consumption is improving," one trader said. "European mills have been more aggressive [in terms of price] so there has not been much im...Read More
Export prices for CIS-origin billet dipped on Tuesday April 4, due to limited trading activity in outlet markets, sources told Fastmarkets. Fastmarkets' daily CIS export billet index was $442 per tonne fob Black Sea on April 4, down by $3 per tonne.CIS mills have been...Read More
Turkish rebar export prices have decreased over the past week because of the lower bids put forward by prospective buyers, sources said on Thursday April 4.Fastmarkets' weekly price assessment for rebar exports from Turkey was $485-490 per tonne fob on an actual-weight basis on Thursday, falling from $490-500 per tonne fob.Turkish steel producers offered...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday April 4 that are worth another look.Fastmarkets launched seven new aluminium price assessments on Thursday April 4 - including calcined pet coke, extrusion and flat-rolled products - to expand coverage of the aluminium market from upstream to downstream. With the annual Minor Metals Trade Association conference kicking off...Read More
Cobalt market participants have been keeping an eye out for potential non-industrial buying, such as stockpiling from China's State Reserve Bureau (SRB), since global metal prices slid to two-year lows at the beginning of this year.A spotlight has been cast on the Chinese bureau ever since it carried out extensive research into major Chinese producers' products and output in the first quarter of t...Read More
The official end of the winter heating season in China - the world's largest iron ore consumer - a few days ago has coincided with a pick-up in market interest in the price spreads between different grades of the steelmaking raw material.On Monday April 1, a total of 350 lots of the Singapore Exchange's (SGX) 65% Fe iron ore cfr China futures contract were cleared and traded. The following day, 2,...Read More
Base metals prices on the London Metal Exchange were lower across the board at the close of trading on Thursday April 4, with an uptick in the dollar index capping upward moves while a marginal uptick in LME stocks this morning also provided a headwind to price action. The dollar index reached a high of 97.34 over the day's trading, spurring unfavorable conditions for commodity investment. The ind...Read More
Physical iron ore prices were range-bound on Thursday April 4 after spikes earlier in the week, with China entering a long weekend from Friday to Sunday for the Tomb Sweeping Festival.MB 62% Fe Iron Ore Index: $92.90 per tonne cfr Qingdao, down by $0.18 per tonne.MB 62% Fe Pilbara Blend Fines Index: $92.02 per tonne cfr Qingdao, down by $0.18 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $95.53...Read More
Seaborne coking coal prices were steady on Thursday April 4 ahead of a holiday in China.On the Global Coal trading platform, a May-laycan cargo of premium hard coking coal in the premium segment was offered at $205 per tonne fob Australia during the day, while bids were made at $195 per tonne fob. A day earlier, a similar cargo was traded at $198 per tonne fob Australia. Elsewhere, a...Read More
Base metals prices on the London Metal Exchange were lower across the board at the close of trading on Thursday April 4, with an uptick in the dollar index capping upward moves while a marginal uptick in LME stocks this morning also provided a headwind to price action. The dollar index reached a high of 97.34 over the day's trading, spurring unfavorable conditions for commodity investment. The ind...Read More
The Turkish billet import market was very quiet this week, with demand for imported material still soft and the export and domestic markets also slow, sources said on Thursday April 4.The suppliers in the CIS region decreased their offers to $455-465 per tonne cfr because of the poor demand and weakening scrap prices.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap, the fe...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday April 4 that are worth another look.Fastmarkets launched seven new aluminium price assessments on Thursday April 4 - including calcined pet coke, extrusion and flat-rolled products - to expand coverage of the aluminium market from upstream to downstream. With the annual Minor Metals Trade Association conference kicking off...Read More
The US copper and brass scrap market maintained a mostly steady footing this week, although red brass scrap prices nudged higher - supported by Comex gains - while uncertainty over looming scrap restrictions in China has remained a weight on the market."Nobody knows where spreads are going to go in the next few months. China is holding all the cards. All the recent purchases I have made are from s...Read More
Comex copper prices failed to hold onto Wednesday's increase with a stronger US dollar weighing on the base metals complex on Thursday April 4. The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped 3.85 cents to $2.9100 per lb. Hopes of an imminent trade deal between the United States and China boosted sentiment across commodities markets, including t...Read More
Fastmarkets is launching seven new aluminium price assessments today, Thursday April 4 - including calcined pet coke, extrusion and flat-rolled products - to expand our coverage of the aluminium market from upstream to downstream.Following a month-long industry consultation, the new prices will be published at 3-4pm UK time on the first Thursday of the month, starting from April 4. They ...Read More
Fastmarkets is extending the consultation period for its proposal to revise the frequency and specification of its copper concentrate treatment & refining charges (TC/RC) index until April 19.With regard to the frequency, responses to the original consultation agreed that the market is in need of a weekly index.In terms of the specification, the consultation on the base and range of concentra...Read More
Nickel stocks held in Shanghai Futures Exchange-approved warehouses dropped by 10.3% week on week as of Thursday April 4, despite domestic demand from the major downstream consumption sector of stainless steel still being sluggish. Deliverable nickel stocks at SHFE-approved warehouses have fallen by 1,128 tonnes since March 29 to 9,794 tonnes as of this Thursday, which marks the third consecu...Read More
Brazilian automakers produced 695,730 light vehicles, trucks and buses during the first quarter of 2019, down by 0.6% compared with 699,754 units in the same period of 2018, national car manufacturers association Anfavea said on Thursday April 4.March had a weaker performance on an annual basis because of late Carnival festivities in 2019, but the data also showed a year-on-year output decrease in...Read More
US import offers for flat-rolled steel have not gained traction, with broadly stable prices abroad colliding with lower pricing in the domestic market - a trend that narrowed spreads between foreign and US product, market participants said.And in some cases - notably hot-rolled coil - US prices have moved below foreign offers, an inversion of normal market dynamics.Hot-rolled coilFastmar...Read More
Prices for steel rebar in the United States were steady for the moment, but market sentiment has become more mixed on reports that seasonal spring demand had yet to be heard or to provide a widespread boost to marketplace activity.Fastmarkets' assessment of the price of US domestic rebar remained at $35.25-36.50 per hundredweight ($705-730 per short ton) fob mill on Wednesday April 3.At the same t...Read More