Steelmakers in Colombia requested that their government conduct a safeguarding investigation into imports of rebar from all origins earlier this month.The request for an investigation was submitted to the ministry of trade, industry and tourism on November 1. Interested parties were required to send in relevant comments by November 23. The request included only imports from countries with which Co...Read More
The sentiment in the CIS export billet market continued to become more depressed on Tuesday November 27 amid growing pressure from China.The Chinese domestic billet price has dropped by 310 yuan ($45) per tonne since the beginning of the week, reaching 3,120 yuan ($450) per tonne ex-works on November 27.The drop in the domestic price made the export market more attractive to Chinese suppliers, wit...Read More
Import prices for flat steel products into South America fell last week after low offers - driven by persistent weakness in the Chinese flat steel market - continued to arrive at South American coasts.Fastmarkets MB's weekly import price assessment for hot-rolled coil in South America was $540-550 per tonne cfr on Friday November 23, compared with $550-560 per tonne cfr in the week prior. Market p...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil, offered at $520-530 per tonne cfr, to Saudi Arabia.India, export, hot-rolled coil, offered at $540 per tonne cf...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBillet China, export, billet, offered at $460...Read More
Domestic and import rebar prices in the United Arab Emirates (UAE) were mostly stable this week but weak demand pressured billet import prices lower.Buying was weak again because of high stocks and the expectation of more price falls, sources told Fastmarkets MB on Tuesday November 27.Domestic rebarThe country's largest producer, Emirates Steel, is still offering rebar at 2,016 dirhams ($549) per...Read More
Chrome ore and ferro-chrome markets were subdued in China in the week ended Friday November 23 ahead of December ferro-chrome tender announcements. UG2 prices hold in ChinaCharge chrome import prices hold in China, domestic alloy prices edge lowerAlloy prices hold in Japan, weaken in South KoreaAlloy prices continue lower in Europe Chrome ore and ferro-chrome prices were largely stable in China o...Read More
Fastmarkets MB proposes to launch an assessment of chrome ore inventories at the main Chinese ports of Tianjin, Qinzhou, Lianyungang and Shanghai to monitor the changes to stock flows of this raw material and help market participants better understand supply and demand in the physical market. The rapid accumulation in Chinese chrome ore inventory this year put pressure on chrome prices as well as...Read More
A new round of environmental inspections started on Sunday November 25 in Jiangxi province, a major ammonium paratungstate production hub in China, and is expected to last for 24 days, multiple well-informed sources told Fastmarkets MB. The inspections will track the progress of improvements made by local industrial producers following the previous environmental inspection in the second quarter of...Read More
Turkish steel producers remained out of deep-sea scrap market on Tuesday November 27 because of uncertainty about Asian markets and sluggish demand for finished products, sources said.After booking three deep-sea cargoes at lower prices at the end of last week, mills have not returned to the scrap market so far this week.The most recent transactions put the HMS 1&2 (80:20) price at $320 per tonne...Read More
Shipments of steel products and pig iron from Ukraine have not yet been affected by the country imposing restrictions under martial law, sources told Fastmarkets on Tuesday November 27."For the moment, I do not see any problems for civil vessels from Black Sea ports, but it is only the first day after the announcement of the martial law decision," one trader from Ukraine said on Tuesday. "Those mo...Read More
Seaborne iron ore prices were rangebound on Tuesday November 27 after a rapid drop below $65 per-tonne cfr on Monday.MB 62% Fe Iron Ore Index: $65.19 per tonne cfr Qingdao, up $0.94 per tonne.MB 62% Fe Pilbara Blend Fines Index: $64.46 per tonne cfr Qingdao, up $0.94 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $69.02 per tonne cfr Qingdao, up $0.05 per tonne.MB 58% Fe Premium Index: $57.06 per...Read More
The share of basic oxygen furnace (BOF)-based steel production in Asia may increase from 2019 onward, even as more integrated mills are commissioned in the region. There are at least six new BOF-based steelmaking projects in China and Southeast Asia which are either in development stages or will fire their blast furnaces between 2018 and 2023, according to World Steel Association head of technolog...Read More
Seaborne coking coal prices softened further on Tuesday November 27, with participants staying on the sidelines amid a weakening steel market in China."The billet price in China [tumbled] during the day. It has fallen by 800-900 yuan ($115-130) per tonne since the first [working day] of November. The situation doesn't bode well for coking coal prices," a Chinese trading source said. Fastmarkets' d...Read More
China's ferrous futures trended downward during morning trading on Tuesday November 27 with most contracts peaking the night earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,576 yuan ($515) per tonne, down 53 yuan per tonneJanuary hot-rolled coil: 3,406 yuan per tonne, down 44 yuan per tonneDalian Commodity Exchange January iron ore: 466 yuan per tonne, d...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 27.Falling 2.4% over the morning, the three-month zinc price found a low of $2,422 per tonne over the morning, its lowest point since September 19. While zinc volumes traded so far this morning hit 5,361 lots as of 10:16am London time. Tightness in the metal's forward curve, prompted by...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday November 27*Copper -$198.46 (-1382.98 yuan) Aluminium -$432.12 (-3011.19 yuan) Zinc -$100.65 (-701.35 yuan) Nickel $387.08 (2697.33 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Fastmarkets MB has discontinued the Indium Corp ingots min 99.97% $ per kg price. After a month-long consultation period, Fastmarkets MB has decided to cease the publication of the Indium Corp ingots min 99.97% $ per kg fob price owing to an understanding that the existing specifications no longer serve the market. Fastmarkets MB is committed to the indium market and will continue to track its evo...Read More
Despite a firmer dollar, the three-month base metals prices on the London Metal Exchange are up across the board by an average of 0.8% this morning, Wednesday November 28. Nickel and tin are the outperformers with gains of 1.4% and 1.1% respectively.Copper prices are up by 0.8% at 4$6,160 per tonne. Volume has been average, with 5,147 lots traded as at 6.48am London time. The precious metals...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Investors are waiting for a speech by Federal Reserve Chairman Jerome Powell to be released at the Economy Club of New York at noon.Index futures were virtually unchanged following release of U.S. third quarter real GDP at 8:30 AM EST. Consensus for second estimate of third quarter real...Read More