The scrap prices in the major markets, other than the United States, have softened in line with weak demand from Turkish steel producers during the working week from Monday January 15 to Friday January 19.However, the US market was also expected to follow the trend, with Baltic Sea and European suppliers having already agreed to sell material to Turkey at lower prices at the end of the week.Turkey...Read More
Prices for containerized imports of ferrous scrap into India fell this week, with negative sentiment and a drop in demand weakening the market, sources told Metal Bulletin on Friday January 19.Indian import scrap markets achieved their highest prices for more than three years a fortnight ago, but the market undid those gains after a sharp decline in buying activity in Pakistan.Metal Bulletin's ind...Read More
Turkish steel producers returned to the deep-sea scrap markets on Friday January 19, after they managed to get lower prices from Baltic Sea and European suppliers.With the news of three cargoes traded, the daily scrap indices went down sharply at the end of the week.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed at $352.89 per tonne cfr, down by $14.10 per tonne day-on-d...Read More
The market in the United Kingdom for grade 5C ferrous scrap has edged downward in the past week, with prices easing while buying interest in the key export market of Turkey cools because of the strengthening of sterling versus the dollar.The UK market is seeing more availability domestically as a consequence, while buyers in India are also balking at current European export prices that have been r...Read More
Firm market conditions have led export prices for Brazilian pig iron to rise for the second week in a row.Metal Bulletin's weekly price assessment for Minas Gerais-origin pig iron exports increased to $370-375 per tonne fob on Friday January 19, from last week's $360-370 per tonne fob.A 30,000-tonnes cargo of material produced in Brazil's south-eastern Minas Gerais state was sold at $370 per tonne...Read More
Metal Bulletin has extended the consultation period regarding its proposal to discontinue its weekly domestic China pig iron price. During the initial consultation period, which ended Friday January 19, Metal Bulletin received feedback from the market that indicates the need for further engagement on the proposal regarding the discontinuation of the price. The extended consultation period will end...Read More
Gains in China's futures market gave seaborne iron ore prices a boost on Friday January 19. Metal Bulletin's 62% Fe Iron Ore Index Today: $76.75 per tonne cfr Qingdao Daily change: Up by $1.88 per tonne per tonne Month-to-date average: $76.65 per tonne Metal Bulletin's 58% Fe Premium...Read More
Prices for both iron ore fines and lumps picked up on Friday January 19 amid an uptick in the futures market. Key drivers China's ferrous futures, having trended downward since Thursday night, surged across the board on Friday afternoon. The benchmark iron ore contract ending the day 1.6% higher than the previous day's settlement price. A futures trader in Beijing attributed the rebound to technic...Read More
Buyers of seaborne coking coal are waiting on the sidelines in anticipation of lower prices in the weeks ahead. Offers for premium hard coking coal hovered around $230 per tonne fob Australia on Friday January 19, sources told Metal Bulletin. Bids were around $30 per tonne below these offers, they added. A few index-linked offers were also heard during the day, amid the prevailing wide spread betw...Read More
Base metals prices on the London Metal Exchange were trading higher across the board on Friday January 19, supported by fresh cancellations of LME stocks and the weakening dollar.The three-month zinc price set a ten-year high this morning of $3,438 per tonne. 24,175 tonnes of metal was freshly cancelled today from LME-listed warehouses in New Orleans.On-warrant stock levels of zinc in the US port...Read More
China domestic rebar prices strengthened again on Friday January 19 on gains in the futures and billet markets. Domestic Eastern China (Shanghai): 3,800-3,850 yuan ($591-599) per tonne, up 20-40 yuan per tonne Northern China (Beijing): 3,820-3,850 yuan per tonne, up 20-30 yuan per tonne Rebar futures as well as billet prices rose during the day, which pushed up spot prices for the long steel produ...Read More
Sherritt International has proposed a $115 million offering of shares and share purchase warrants tied to the price assessments of the physical, spot cobalt market published by Metal Bulletin. Each unit in the offering comprises one common share and one half of a common share purchase warrant tied to an "applicable cobalt reference price," the Canada-based cobalt and nickel producer said this week...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Friday January 19:Bismuth MB China domestic, yuan/tonne: 69,000-71,000 yuan per tonne from 69,000-70,500 yuan Chromium MB free market alumino-thermic, $/tonne: $8,050-8,350 per tonne from $8,000-8,300 Cobalt MB free market high grade, $/lb: $37.00-38.05 per lb from $37.00-38.00 Cobalt MB free market low grade, $/lb: $36.75-37.40 per...Read More
An overview of China's minor metals markets in the week of January 15-19 and the reasons for any price moves.Read More
Base metals prices on the London Metal Exchange are stronger across the board this morning, Friday January 19, with the complex up by an average of 0.6%. Aluminium prices ($2,262 per tonne) saw the biggest increases with a 0.8% gain and lead is the laggard with a 0.4% gain ($2,616 per tonne), while copper prices, at $7,125 per tonne, are up 0.7%. Volume has been high with 11,182 lots traded as of...Read More
International metals group Liberty House is to make an "unconditional and comprehensive offer" for French speciality steelmaker Asco Industries (Ascometal) ahead of the cutoff time on Friday January 19 that was set by a court in eastern France, it said on deadline day.Liberty House declined to disclose the value of its bid, but noted its intention to invest "?,?300 [$366.62 million] over five year...Read More
China's domestic stainless steel prices continued to trend downward over the past week amid high selling interest coupled with soft demand. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,500-15,200 yuan ($2,256-2,365) per tonne including VAT for the week ended Thursday January 18, down 200 yuan per tonne a week earlier. Steel.....Read More
Import prices for containerized heavy melting scrap (HMS) in Taiwan showed some signs of softening this week on increased supply.Metal Bulletin's price assessment for imports of United States-origin HMS 1&2 (80:20) into Taiwan was $348-360 per tonne cfr for the week ended Friday January 19, widening downward by $2 per tonne from a week earlier.Sellers continued to offer cargoes at $360 per tonne c...Read More
An alleviation of supply concerns in the seaborne coking coal market has led to prices for the steelmaking raw material starting to retreat this month, but just how low they fall will be determined by how quickly demand rises over the next few weeks when Chinese buyers make an expected return.Fixed-price spot transactions in the seaborne premium hard coking coal market have been scarce in recent w...Read More