Turkish domestic long steel prices increased over the past week because of rising imported scrap costs, but demand has not supported the rises, market participants told to Fastmarkets on Thursday March 4.Late on February 26, a steel mill in the Marmara region booked Baltic Sea-origin shipment of HMS 1&2 (80:20) scrap at $456 per tonne cfr, which pushed up the daily scrap on March 1, with Fastmarke...Read More
Turkish rebar and wire rod export prices have gone up further this week on increasing scrap costs, market sources said on Thursday March 4.The latest deep-sea scrap transaction was recorded late on February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20). This raised the daily scrap index for US-origin material - which tends to reflect Balt...Read More
The Turkish steel producers have resumed their deep-sea scrap purchases after a short break and have booked two cargoes at slightly higher prices, market sources said on Thursday March 4.A steel mill in the Marmara region booked a Canadian cargo, comprising 18,000 tonnes of HMS 1&2 (95:5), 18,000 tonnes of shredded and 7,000-8,000 tonnes of plate and structural (P&S), at an average price of $471 p...Read More
Join Fastmarkets and steel industry experts on Wednesday March 10 for a special webinar on the revival of the Chinese steel scrap import market - 'Understanding China's Steel Scrap Market Dynamics.'Fastmarkets has been at the forefront of reporting deals, obstacles and key regulatory changes in the Chinese steel scrap import market over the past year and on February 8 2020, started a daily pr...Read More
Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao recorded a fresh high at $202.90 per tonne on Thursday March 4 after a trade on the Globalore trading platform.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $177.98 per tonne, up $1.58 per tonne62% Fe low-alumina fines, cfr Qingdao: $178.07 per tonne, up $1.66 per tonne58% Fe fines high-grade premium, cfr Qingdao: $1...Read More
Seaborne premium hard coking coal prices in the cfr market fell on Thursday March 4, with end users in China not interested in seaborne cargoes due to sufficient domestic supplies.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.45 per tonne, down $0.23 per tonnePremium hard coking coal, cfr Jingtang: $214.51 per tonne, down $3.30 per tonneHard coking coal, fob DBCT: $116.16 per tonne,...Read More
Mining activities at Minas Gerais are unlikely to be affected despite a newly-imposed Covid-19 lockdown on Thursday March 4, market sources said.The local authorities in Minas Gerais have issued an initial 15-day lockdown to tackle the spread of the Covid-19 virus, with further evaluation needed to determine whether an extension is needed, local news outlets saidMining activities will still c...Read More
Chinese traders are betting big on steel scrap imports into China on the pervasive bullish sentiment fueled by positive downstream signals, sources said.These traders are taking...Read More
The different strategies of hot-rolled coil exporters in China emerged on Thursday March 4 amid retreating prices in the country's domestic market, sources told Fastmarkets.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($765-770) per tonne, down 30-50 yuan per tonneA Shanghai-based trader said trading activity on Thursday weakened after the futures market retreated during the morning session....Read More
China's domestic rebar prices dropped slightly on Thursday March 4 amid buyer resistance toward sharp gains in the market a day earlier.DomesticEastern China (Shanghai): 4,720-4,760 yuan ($730-736) per tonne, down by 20 yuan per tonne Sellers lowered prices in an attempt to stimulate sales, though the move appeared to have had limited success. Buyers are still waiting for prices to fall further am...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 24.75-25.65 on Thursday March 04, 2021....Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
Key data from Fastmarkets' pricing session in London on Wednesday March 3.Key drivers: A persistent shortage of antimony ore in China and minimal stock levels in Rotterdam continue to push up the metal's price, tightening nearby availability. Buyers in need of material for prompt release continue to find only very limited units, giving them no alternative but to accept prices that have gone up by...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 3 that are worth another look.A crackdown on industrial activity in Tangshan, China's steelmaking hub, is sending jitters throughout the sector. Fastmarkets examines what it means for the steel industry.Glencore has appointed BMO...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 3.Please click...Read More
Nickel's futures price on the London Metal Exchange plummeted by over 6% at the 5pm close on Wednesday March 3 following the news that Norilsk Nickel expects to stabilize flooding issues at two of its mines next week. The Russian company, the world's largest palladium and high-grade nickel producer, suspended operations at Oktyabrsky and Taimyrsky mines due to flooding from natural groundwater las...Read More
The European ferro-chrome market was supported over the week to March 2 on tight supply and strong demand from China where the market has been buoyed following a rise in tender prices, sources said.Fastmarkets' price assessment for ferro-chrome, high carbon, 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe rose by $0.03 per lb Cr (2.5%) to $1.15-1.35 per lb Cr on Tuesday, from $1.12-1.32 p...Read More
Fastmarkets rounds up the latest logistical issues affecting supplies of metal, ores and alloys from African countries, in the period ended Friday February 26.February 26South African manganese miners have started to raise prices in line with rising costs, including those incurred amid severe weather.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, rose by $0.12 week on week to $4.77 per dry...Read More
Domestic spot prices for ferro-chrome in China rose in the week to March 2, which supported the UG2 ore market, following an increase in ferro-chrome tender prices from China's leading stainless steel producers, sources said.Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel raised their high-carbon ferro-chrome tender prices for March delivery by 700 yuan ($108) per tonne from the prior m...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi in...Read More