Turkish steel mills held back from the deep-sea scrap markets this week amid limited long steel demand in the country's export and domestic markets. And the slowdown in Turkey stopped global scrap prices increasing further.Turkish steel mills focused on finished steel sales instead of scrap purchasesRecent sales to Turkey and Bangladesh kept US export markets firmWeak steel markets in Vietnam cool...Read More
The price of ferrous scrap imported into India in containers has increased over the past week, supported by better demand and reduced availability, sources told Fastmarkets on Friday August 14.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $309.64 per tonne on Friday, up by $5.46 per tonne week on week from $304.18 per tonne on August 7.One source said...Read More
The Turkish steel producers ended the working week on Friday August 14 with no deep-sea scrap purchases, having focused on finished long steel sales instead, sources told Fastmarkets.Turkish steel mills paused their deep-sea scrap bookings at the end of the last week, when the price for HMS 1&2 (80:20) reached to $285 per tonne cfr for US and Baltic Sea material.Market participants said ther...Read More
Vietnam's import scrap market for bulk cargoes was quiet throughout the last week, with holidays in Japan and sluggish finished steel markets preventing further purchasing, market sources told Fastmarkets on Friday August 14."Finished product prices are not going up. We've reached a point where we will not buy anymore," a Vietnamese mill source told Fastmarkets on Friday. "There's no demand at the...Read More
The high inventory of iron ore lumps at the Chinese ports signals a lack of appetite for the direct charge raw material, prompting the lump premium to ease, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $122.44 per tonne, up $1.06 per tonne.62% Fe low-alumina fines, cfr Qingdao: $121.27 per tonne, up $0.72 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $107.81...Read More
Seaborne prices were flat on Friday August 14 amid a silent market, while the ex-China markets showed signs of recovery and Chinese steel mills were stuck with the country's import restrictions on seaborne coking coal, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.84 per tonne, down $0.15 per tonne Premium hard coking coal, cfr Jingtang: $115.09 per tonne, up $0.22 per t...Read More
Seaborne coking coal prices declined across the board on Thursday August 13 except for premium hard coking coal in the fob market, where market sources said trading was relatively active.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.99 per tonne, up $0.57 per tonnePremium hard coking coal, cfr Jingtang: $114.87 per tonne, down $0.99 per tonneHard coking coal, fob DBCT: $85.02 per ton...Read More
Seaborne premium hard coking coal prices remain relatively flat on Wednesday August 12 amid a quiet seaborne spot market until one transaction was heard later in the evening, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.42 per tonne, down $0.09 per tonnePremium hard coking coal, cfr Jingtang: $115.86 per tonne, up $0.02 per tonneHard coking coal, fob DBCT: $87.15 p...Read More
Eastern China's rebar prices were flat on Friday August 14 amid stable demand, but market participants are pessimistic about next week's prices due to supply pressures.Domestic Eastern China (Shanghai): 3,610-3,640 yuan ($520-524) per tonne, unchangedNorthern China (Beijing) weekly assessment: 3,670-3,700 yuan per tonne, down by 30 yuan per tonneDemand was stable during the day ahead of the weeken...Read More
Base metals prices opened mostly higher on the London Metal Exchange, with stable indications of economic recovery in China helping support prices on Friday August 14. Industrial output in China grew 4.8% in July, flat from the growth rate in June, prompting support for base metals prices. "Industrial output and activity continue to lead the way - it appears that this is enough to get metals price...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday August 14. ChinaSeaborne manganese ore prices continued to climb up amid improved sentiment resulting from growing portside ore and alloy prices and continued buying of 37% manganese ore material. Prices for 44% manganese ore will follow the trend pending fresh offers, sources said.Portside ore pric...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt alloy...Read More
The cobalt standard grade, in-whs Rotterdam, trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Fastmarkets assessed the price of cobalt standard...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
Key data from the pricing sessions in Asia, Europe and the United States during the week ending Friday August 14.ChinaThe UG2 chrome ore market recorded a pick-up in activity over the past week, with buyers procuring at around the current index level, while some sales were reported above this level later in the week ...Read More
Taiwanese buyers turned to imported containerized ferrous scrap from the United States West Coast over the past week due to the absence of Japanese scrap in the market.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $257-259 per tonne on Friday August 14, unchanged from a day earlier but up by $2 per tonne...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 13 that are worth another look.The Brazilian branch of car manufacturer General Motors (GM) was extending the furlough period for some employees at its plants, and opening a voluntary redundancy plan at its S??o Caetano do Sul unit, the company told Fastmarkets...Read More
Plans for a London Metal Exchange spot trading platform have sparked intense debate within the aluminium industry. But opponents and supporters don't necessarily fall into the camps that one might expect. For starters, a decision by the LME not to change its futures contract, establish a new green aluminium contract or set thresholds to define what constitutes low-carbon metal is proving key in st...Read More
London Metal Exchange copper futures fell toward the 5pm close on Thursday August 13, failing to stabilize above the level of $6,400 per tonne.The LME's 3-month copper price closed at $6,256 per tonne, down by $176 per tonne from Wednesday's close, to the lowest since last Friday.Tumbling three-month prices have exacerbated a backwardation in the nearby forward curve. The cash/three-month spread w...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 13 that are worth another look.The Brazilian branch of car manufacturer General Motors (GM) was extending the furlough period for some employees at its plants, and opening a voluntary redundancy plan at its S??o Caetano do Sul unit, the company told Fastmarkets...Read More