Fastmarkets reviews the major stories that have affected the steel market during the week ended Friday December 21. Raw Materials Global demand for direct-reduction grade iron ore pellets is forecast to increase following the commissioning of Tosyali Algeria's new direct reduced iron plant.Anglo American's Minas Rio iron ore operation in Brazil is expected to produce 16 million-19 million tonnes o...Read More

Indian flat steel producers slashed domestic hot rolled coil prices by 1,000 rupees ($14)per tonne this week following a slump in demand across all sectors.Fastmarkets' price assessment for domestic HRC in India was 42,000-42,500 rupees per tonne ex-mill on Friday December 21, a reduction of 1,000 rupees per tonne compared with last week's 43,000-43,500 rupees per tonne ex-mill.An offici...Read More

Fastmarkets MB hosted the 22nd Middle East Iron & Steel conference in Dubai last week. Here are five things we learned...1 High-grade iron ore derivative will be an important tool for Middle East DRI industry A world-first 65% iron ore derivative launched by the Singapore Exchange in early December was hailed as an important hedging tool for the Middle East direct-reduced ironmaking (DRI) industry...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, HDG, PPGI Hot-rolled...Read More

There was zero activity in Brazil's pig iron export market this week, with buyers declining to make any purchases ahead of the New Year.Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region was $335-340 per tonne fob on Friday December 21, down by $5 per tonne week on week. "The market is dead. Even if producers cut prices [again] no one will buy...Read More

Prices for light iron scrap in the United Kingdom were steady this week while the market processed a price reduction made last week to 5C and monthly prices due to ongoing market headwinds, sources told Fastmarkets on Friday December 21.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?65-95 ($82-120) per tonne on December 21, flat week on week, bu...Read More

The price of shredded ferrous scrap imported into India fell further this week, with fresh deals bringing the index to a year-to-date low, market participants said on Friday December 21.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $331.98 per tonne cfr Nhava Sheva on December 21, down from $337.50 per tonne cfr Nhava Sheva on December 14. Continued poor...Read More

Global demand for direct-reduction (DR) grade iron-ore pellets is forecast to increase following the commissioning of Tosyali Algeria's new direct reduced iron (DRI) plant."In Algeria [Tosyali] has two 2.5 million-tonne-per-year DRI plants coming on stream - one has already been commissioned and the other is due to be commissioned next year," a source familiar with the matter told Fastmarkets.Tosy...Read More

Seaborne iron ore prices were rangebound on Friday December 21 after a jump on the previous day. MB 62% Fe Iron Ore Index: $72.24 per tonne cfr Qingdao, down $0.02 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.07 per tonne cfr Qingdao, down $0.02 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.16 per tonne cfr Qingdao, up $0.19 per tonne. MB 58% Fe Premium Index: $63.93 per tonne cfr Qi...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday December 21*Copper -$89.73 (-620.16yuan)Aluminium -$397.37 (-2,746.49 yuan) Zinc -$8.32 (-57.53 yuan) Nickel $239.71 (1,656.83 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices...Read More

Base metals prices on the London Metal Exchange were mostly lower during morning trading on Friday December 21, hindered by weak equity markets and oil futures which have kept investors risk-averse. The S&P 500 Index fell 1.58% this morning amid fears that the US government could face a shutdown and continued economic pressure, while the Dow Jones Industrial Average slumped 2% on similar fears. Th...Read More

Metro International Trade Services has withdrawn from London Metal Exchange warehouse services in Europe with immediate effect, while the company's UK arm has simultaneously delisted a warehouse in Port Klang, according to a notice from the exchange on Friday December 21. In July, Fastmarkets reported that Metro's owner, Reuben Brothers, entered into advanced discussions regarding the sale of a ma...Read More

The seaborne coking coal market tumbled on Friday December 21 amid lower offers, and consequently, transactions concluded below prevailing levels.A shipment of premium mid-vol hard coking coal was sold to a South Asian end user at around $220 per tonne fob Australia during the day, Fastmarkets has heard.A top Australian brand was sold to an end user in southern China at $205 per tonne cfr China, m...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

The following Fastmarkets minor metals prices changed on Friday December 21:Minor metalsAntimony MMTA standard grade II, $/tonne: $7,700-7,900 per tonne from $7,750-7,900Bismuth MB China domestic, yuan/tonne: 47,000-49,500 yuan per tonne from 48,000-50,000 yuanCadmium MB free market min 99.95%, cents/lb: 117-132 from 120-135Cadmium MB free market min 99.99%, cents/lb: 123-138 from 123-140Chromium...Read More

An overview of the Chinese minor metals markets and the reasons for any price moves.See also:2018 REVIEW: Eight...Read More

December was a slow month for stainless steel demand in Europe, according to distributors who have also complained since October of diminishing margins. "The market was lousy this month, very quiet demand. Only the first couple days of December were ok, but even then they weren't great. Prices have been going down for months, we're not making margins, so...Read More

Turkish scrap import prices decreased on Friday December 21, with buyers bidding at lower prices, sources told Fastmarkets MB.European origin HMS 1&2 (80:20) was on offer at $290 per tonne cfr to Turkey, while buyers were bidding $275-280 per tonne cfr for the material. One seller told Fastmarkets that...Read More

Prices for alloy steel scrap imported into Europe weakened further this week, with the bearish trend expected to persist into the first quarter of 2019, market sources told Fastmarkets MB on Friday December 21.Despite European sources saying they had been pleasantly surprised by the level of trading activity that took place in December so far, given that the Christmas holiday is just around the co...Read More

The following Fastmarkets non-ferrous European free market scrap prices changed on Friday December 21:Aluminium scrapCast: ?,?970-1,010 per tonne from ?,?960-1,010Mixed turnings 6%: ?,?820-870...Read More