London Metal Exchange three-month base metals prices were somewhat subdued during morning trading on Monday December 2 while a strong US dollar index, trading up by 0.08% at 98.35 at the same time, had a dampening effect on trading volumes.This despite the release of better-than-expected data from China this morning that showed the country's manufacturing sector was in expansionary territory in No...Read More
The demand outlook for the metals has improved now that two of China's manufacturing purchasing managers' indices (PMI) showed manufacturing was in expansion mode. The state PMI moved back above 50 for the first time in seven months in November and the Caixin manufacturing PMI has now shown month-on-month gains for four consecutive months.Asian equities are showing gains this morning, led by a 1.0...Read More
Slab prices in the CIS region continued to increase over the past week supported by the positive mood in finished flat steel products both inside the region and in some of the outlet customers' markets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $380-385 per tonne on Monday December 2, up from $370-375 per tonne on Monday last week.In Turkey, offers of CIS-...Read More
Fastmarkets will publish its price assessments for standard and alloy-grade cobalt, in-whs Rotterdam, on a daily basis from Monday February 3, 2020.Join members of Fastmarkets' editorial and pricing team for a discussion on the results from its recent consultation on cobalt pricing frequency, insights from Fastmarkets' pricing database and details on the practicalities of daily cobalt pricing. Cli...Read More
Spot copper concentrate treatment and refining charges (TC/RCs) increased at the end of November, with the market busy discussing annual contracts and deals.The Fastmarkets copper concentrates TC/RC index basis cif Asia Pacific ports was $53.5 per tonne/5.35 cents per lb on November 29, up from $52.2/5.22 cents on November 22.Although some miners and smelters are yet to conclude annual contra...Read More
Base metals' three-month prices on the London Metal Exchange were buoyed by a weaker US dollar index, despite negative macro sentiment brought on by weaker-than-expected US data at the close on Monday December 2.The US dollar index traded down 0.46% at 97.42 this afternoon, exacerbating already negative macro sentiment from poor data in the region.The United States purchasing managers index (PMI)...Read More
United States President Donald Trump has imposed new tariffs on steel and aluminium imports from Brazil and Argentina, he said on social media platform Twitter on December 2. "Brazil and Argentina have been presiding over a massive devaluation of their currencies, which is not good for our farmers. Therefore, effective immediately, I will restore the tariffs on all steel and aluminium that is ship...Read More
Due to data collection error, Fastmarkets' Shanghai copper bonded stocks assessment was published incorrectly on November 18.Fastmarkets has corrected its Shanghai copper bonded stocks assessment, which was published incorrectly on November 18 due to data collection...Read More
London Metal Exchange three-month base metals prices were somewhat subdued during morning trading on Monday December 2 while a strong US dollar index, trading up by 0.08% at 98.35 at the same time, had a dampening effect on trading volumes.This despite the release of better-than-expected data from China this morning that showed the country's manufacturing sector was in expansionary territory in No...Read More
The demand outlook for the metals has improved now that two of China's manufacturing purchasing managers' indices (PMI) showed manufacturing was in expansion mode. The state PMI moved back above 50 for the first time in seven months in November and the Caixin manufacturing PMI has now shown month-on-month gains for four consecutive months.Asian equities are showing gains this morning, led by a 1.0...Read More
Base metals prices on the Shanghai Futures Exchange were mixed during the morning trading session on Monday December 2 while market participants awaited further developments in trade talks between China and the United States.Optimism surrounding a "partial" trade deal between the world's two largest economies being signed before the end of the year took a hit last week after United States Presiden...Read More
Turkey's imports of flat steel products increased by 18.21% year-on-year in October, according to figures from the Turkish Statistical Institute (TUIK).The country imported 600,015 tonnes of flat steel, compared with 507,580 tonnes in the corresponding month of 2018, the statistics published on Friday November 29 showed.The increase in imports came amid rising prices for flat steel in Turkey, espe...Read More
Import prices for steel slab in Southeast Asia and East Asia widened upwards over the past week as suppliers increased their asking prices amid a sustained uptrend in the price of HRC.But market participants questioned whether these hikes will be accepted by buyers"It is unlikely that re-rollers can accept the hiked prices given the narrow spread with regional HRC prices," a trader in Taiwan said....Read More
China's hot-rolled coil prices in the east gained on Monday December 2, with supply remaining short partly due to slow logistics and rising transportation costs.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($529-530) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, unchangedSpot prices gained in Shanghai following futures increases, with a source there...Read More
Turkish steel producers continued to book deep-sea scrap for January shipment at steady prices, but at a slower pace, sources told Fastmarkets on Monday December 2.A steel mill in the Marmara region booked a US cargo late on Friday November 29, comprising 10,000 tonnes of HMS 1&2 (80:20) at $272 per tonne and 30,000 tonnes of shredded at $277 per tonne cfr.This was the first US deal since November...Read More
The 62% Fe iron ore market trended lower in November, with prices falling 5.5% month on month, while the 65% price fell 1% from October. Traded volumes in the 65% Fe derivatives contract on the Singapore Exchange, which is settled against Fastmarkets' daily 65% Fe iron ore index, were 2.27 million tonnes in November, the second-highest total since its launch in December 2018. Open interest on Nove...Read More
Domestic ship scrap prices in Turkey increased over the past week in line with rising imported scrap values, sources said on Monday December 2.One steel mill in the Izmir region raised its buy price for ship scrap by $10 per tonne to $275 per tonne delivered, while three fellow mills were buying the same material at $270 per tonne.Read More
Iron ore prices advanced on Monday December 2 amid news of less stringent restrictions on steelmakers in China's steel hub of Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.45 per tonne, up $0.99 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.54 per tonne, up $0.99 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.32 per tonne, up $1.46 per tonne.58%...Read More
The import pig iron market in the United States became steadily more quiet during the week ended Friday November 29 as buyers completed restocking ahead of the Thanksgiving holiday. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was at $325-326 per tonne on Friday, narrowing downward from $325-327 per tonne a week before. ...Read More
Seaborne coking coal prices moved up on Monday December 2, as spot trading activity remained robust. Fastmarkets indicesPremium hard coking coal, fob DBCT: $137.95 per tonne, up $3.29 per tonnePremium hard coking coal, cfr Jingtang: $146.63 per tonne, down $0.67Hard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang: $130.25 per tonne, unchanged ....Read More