Brazil's export pig iron market was quiet during the week to Friday October 16 because suppliers have full order books and expected higher prices in the Chinese market.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil, at $352-355 per tonne on Friday, unchanged week on week because no trading activity was reported.Pig iron offers from the south of Brazil were repo...Read More
Turkish steel mills continued to book deep-sea scrap for November shipments at slightly higher prices in the working week to Friday October 16, easing the oversupply in the United States. Improving buying interest for finished steel supported scrap imports into Southeast Asia.Turkish steel mills replenish scrap stocks on strong export salesTurkish bookings welcomed in US due to oversupplyRecoverin...Read More
The price of shredded scrap imported into India inched upward on Friday October 16 after the downward price trend in the market reversed, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $308.62 per tonne on Friday, up from $305.74 per tonne one week earlier. This was the first upward movement after four consecutive weeks of...Read More
The CIS export billet market was largely quiet in the week to Friday October 16 due to a mismatch between sellers' and customers' price expectations.Offers of CIS-origin billet were heard mainly within the range of $410-415 per tonne fob Black Sea, but some suppliers were seeking even higher numbers, according to market participants' reports.Meanwhile, customers' prices ideas rarely exceeded $400...Read More
Indonesian authorities have extended the deadline for scrap sellers to comply with new, strict import regulations until the end of the year, leading to a burst of activity in the market, market participants told Fastmarkets on Friday October 16.Rules concerning the registration of scrap exporters to Indonesia came into force on September 30, causing many deals to be canceled because some exporters...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 15 that are worth another look.Demand in India for steel and ferrous scrap will remain subdued for the rest of this year, while Pakistan and Bangladesh both show stronger demand, Zain Nathani has said during the online Bureau of International...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
Prices of flat-rolled steel imports in South America mostly moved upward in the week to Friday October 16, amid higher offers from Chinese mills and deals being settled at higher levels.Fastmarkets' price assessment for steel hot-rolled coil, import, cfr main ports South America, was $530-565 per tonne on Friday, widening upward from $530-560 per tonne a week before.Chinese offers were reported mo...Read More
The London Metal Exchange three month copper price continued to decline on Friday October 16, while the three-month prices for nickel and aluminium made small gains over the day.The LME three-month copper price lost 0.7% to close at $6,738 per tonne, after seeing a low turnover of just above 11,300 lots on Friday.LME copper stocks totaled 184,850 tonnes on October 16, up from 73,625 tonnes on Sept...Read More
Brazil's export pig iron market was quiet during the week to Friday October 16 because suppliers have full order books and expected higher prices in the Chinese market.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil, at $352-355 per tonne on Friday, unchanged week on week because no trading activity was reported.Pig iron offers from the south of Brazil were repo...Read More
Indian mills were holding back their hot-rolled coil export offers because domestic prices for the commodity were still strong because of production shortfalls, Fastmarkets heard on Friday October 16.The price of steel hot-rolled coil (commodity), export, fob main port India, was assessed by Fastmarkets at $510-515 per tonne on October 16, unchanged since last week in the absence of new export off...Read More
With a virtual LME Week starting on Monday October 19, the base metals market is starting to focus on negotiating 2021 contracts. Here, read about how the evolving nature of virtual negotiations is affecting the aluminium, copper, nickel and tin markets. Aluminium: Uncertainty stirs expectation of active spot market Aluminium market participants are likely to put extra emphasis on spot deals for 2...Read More
The London Metal Exchange three month copper price continued to decline on Friday October 16, while the three-month prices for nickel and aluminium made small gains over the day.The LME three-month copper price lost 0.7% to close at $6,738 per tonne, after seeing a low turnover of just above 11,300 lots on Friday.LME copper stocks totaled 184,850 tonnes on October 16, up from 73,625 tonnes on Sept...Read More
The London Metal Exchange is making moves to solve an issue blown up by the coronavirus pandemic, namely that its system for allocating metal bought and sold around the world is still managed through pieces of paper. That has become problematic in a world where logistics have been severely disrupted. Organizing couriers to take warrants, which bestow title to specific lots of metal in warehouses f...Read More
With a virtual LME Week starting on Monday October 19, the base metals market is starting to focus on negotiating 2021 contracts. Here, read about how the evolving nature of virtual negotiations is affecting the aluminium, copper, nickel and tin markets. Aluminium: Uncertainty stirs expectation of active spot market Aluminium market participants are likely to put extra emphasis on spot deals for 2...Read More
Turkish steel mills continued to book deep-sea scrap for November shipments at slightly higher prices in the working week to Friday October 16, easing the oversupply in the United States. Improving buying interest for finished steel supported scrap imports into Southeast Asia.Turkish steel mills replenish scrap stocks on strong export salesTurkish bookings welcomed in US due to oversupplyRecoverin...Read More
An overview of the new energy raw materials markets and their latest price moves.Read More
Smelter- and mill-grade aluminium scrap prices in the United States rose almost across the board in the week to Thursday October 15 while buyers reported increasing difficulties buying material at past pricing levels."It does seem like secondaries are getting stronger," one seller said. "I have had more calls for material. Some traders were having difficulties filling their orders for old sheet."F...Read More
Mining company Rio Tinto has teamed up with construction materials company Lafarge Canada to reuse waste from the aluminium smelting process to make cement. The circular economy initiative - designed to reduce the need to extract other raw materials and create value from waste - comes as mining companies seek ways to operate in a more sustainable manner. Lafarge unit Geocycle Canada has worked wit...Read More
The London Metal Exchange is making moves to solve an issue blown up by the coronavirus pandemic, namely that its system for allocating metal bought and sold around the world is still managed through pieces of paper. That has become problematic in a world where logistics have been severely disrupted. Organizing couriers to take warrants, which bestow title to specific lots of metal in warehouses f...Read More