Key data from the Wednesday February 12 pricing session in Shanghai and London. Key drivers Tight spot supply pushes cobalt hydroxide payables up again, now at their highest since the end of October 2019.Customers pay a premium for nearby, prompt material in preference to that coming from Africa, where logistical bottlenecks have also slowed down shipments. ...Read More
EU domestic prices for hot-rolled coil have increased day on day despite lower import offer prices on similar material, sources told Fastmarkets on Thursday February 13.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?479.31 ($522.45) per tonne on Thursday February 13, up by ?,?3.10 per tonne day on day from ?,?476.21 per tonne on February 12.The index was...Read More
China's domestic hot-rolled coil remained under pressure on Thursday February 13 amid low economic activity downstream, though major mills maintained their export offers at relatively high levels.DomesticEastern China (Shanghai): 3,500-3,510 yuan ($502-504) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,270 yuan per tonne, unchangedSellers in Shanghai were asking for 3,500-3,510 yua...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 13 that are worth another look.The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.The novel coronavirus (2019-nCoV) h...Read More
Domestic prices for rebar and wire rod in Turkey have increased over the past seven days on a weakening lira and rising costs for imported scrap, sources said on Thursday February 13.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,000-3,040 lira ($497-504) per tonne on Thursday, up from the 2,940-2,950 lira per tonne of last week, including 18% V...Read More
Turkish export prices for steel rebar and wire rod have increased over the past week in line with the latest rebound in the cost of imported scrap, sources said on Thursday February 13.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $410-420 per tonne on Thursday, widening upward slightly from the $410-415 per tonne of last week.The mills i...Read More
Turkish deep-sea scrap import prices have continued to increase with the news of a fresh cargo being sold on Thursday February 13.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $273.50 per tonne and 5,000 tonnes of bonus at $283 per tonne cfr.This compared with a US cargo sold on early Wednesday at $268 per tonne and a Baltic Sea cargo so...Read More
Seaborne iron ore prices were rangebound on Thursday February 13 amid higher steel inventories and weak demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.56 per tonne, up $0.88 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.89 per tonne, up $0.88 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.74 per tonne, up $0.81 per tonne.58% Fe fines high-premium, c...Read More
Brazil-based miner Vale has lowered its iron ore fines production guidance for the first quarter of 2020 after its operations were adversely affected by heavy rain, the company said on Tuesday February 11.Vale said it was expecting to produce 63-68 million tonnes of iron ore fines in the January-March period, down by 5 million tonnes from an earlier estimate of 68-73 million tonnes.The miner suffe...Read More
Weak demand has pushed the domestic price for rebar in Egypt down by as much as $16 per tonne over the week ended Thursday February 13, even though the import price for steel billet has increased, sources have told Fastmarkets.Some Egyptian rebar producers lowered their prices on February 10, when billet costs were falling with the help of a strong Egyptian pound.Domestic producers were offering r...Read More
China's domestic rebar prices dropped slightly on Thursday February 13 on persistently weak demand while the export segment tumbled after cargoes were sold much lower than prevailing rates. Eastern China (Shanghai): 3,370-3,400 yuan ($483-488) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,420-3,450 yuan per tonne, down 10-20 yuan per tonneMost construction projects are delaying t...Read More
The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.Various transportation restrictions have been put in place throughout China since late January as a result of the outbreak of the novel coronaviru...Read More
The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.Various transportation restrictions have been put in place throughout China since late January as a result of the outbreak of the novel coronaviru...Read More
Brazil-based miner Vale has lowered its iron ore fines production guidance for the first quarter of 2020 after its operations were adversely affected by heavy rain, the company said on Tuesday February 11.Vale said it was expecting to produce 63-68 million tonnes of iron ore fines in the January-March period, down by 5 million tonnes from an earlier estimate of 68-73 million tonnes.The miner suffe...Read More
The outbreak of the novel coronavirus (2019-nCoV) in China has weakened the country's rebar market in recent weeks, sending prices to their lowest in close to three years. Fastmarkets' February 11 assessment for steel reinforcing bar (rebar) domestic, ex-whs eastern China was 3,380-3,420 yuan ($485-490) per tonne, down 250-260 yuan per tonne from 3,640-3,670 yuan per tonne on January 23 - the last...Read More
EU domestic prices for hot-rolled coil have increased day on day despite lower import offer prices on similar material, sources told Fastmarkets on Thursday February 13.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?479.31 ($522.45) per tonne on Thursday February 13, up by ?,?3.10 per tonne day on day from ?,?476.21 per tonne on February 12.The index was...Read More
The three-month price for lead on the London Metal Exchange was higher at the close of trading on Thursday February 13, nearing the $1,900 per tonne resistance level on a 1.7% uptick, while a positive close for LME copper saw it also approach nearby resistance.Lead's underlying price on the LME closed at $1,892 per tonne, climbing from an intraday low of $1,844.50 per tonne, while turnover was mod...Read More
The alumina index, fob Australia remained just above $280 per tonne so far this week amid quiet trading conditions. Fastmarkets calculated the daily benchmark at $281.69 per tonne on Thursday February 13, little changed from $281.61 per tonne the previous day. The index has hovered around $281 per tonne since February 7 and remains close to its highest level since November 7, when it was at $...Read More
Turkish deep-sea scrap import prices have continued to increase with the news of a fresh cargo being sold on Thursday February 13.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $273.50 per tonne and 5,000 tonnes of bonus at $283 per tonne cfr.This compared with a US cargo sold on early Wednesday at $268 per tonne and a Baltic Sea cargo so...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 13 that are worth another look.The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.The novel coronavirus (2019-nCoV) h...Read More