Import prices for flat-rolled steel products in South America continued their nearly three-month uptrend as Chinese material was presented at higher levels for March 2021 and April 2021 shipments following ongoing domestic strength.Interest from buyers went quiet ahead of the year-end holidays, however, market participants said. Most clients were waiting to see if prices would correct down next mo...Read More
Steel billet and rebar prices have increased again in Egypt in the week to Thursday December 24, with demand for rebar said to be moderate because of restocking, market sources told Fastmarkets.Locally produced billet was sufficient to meet demand from rebar producers, so buyers did not book any import billet.Demand for rebar and billet has been slow in the country since the imposition of a ban on...Read More
Fastmarkets will discontinue its tin ingot premiums on a seaborne basis to China from the start of January. The decision follows a month-long market consultation. Market analysis and engagement showed support for the move, with China a major producer but a negligible importer of LME registered tin ingot bands other than in extreme circumstances. The two prices to be discontinued are: MB-SN-0032-Ti...Read More
Fastmarkets has decided to discontinue its copper cathode premium, cif Japan from the start of January. The results of a month-long consultation, market analysis and engagement showed support for the move, with Japan a major producer but a negligible importer of LME registered copper cathode brands. The price to be discontinued is: MB-CU-0385 - copper grade A cathode premium, cif Japan, $ per tonn...Read More
The United Kingdom and European Union have reached an agreement on a trade deal that will ensure tariff-free trading of most goods between the country and the bloc after December 31 when the withdrawal transition period ends, easing metals and minerals market participants' fears of logistics paralysis and material shortages. Following four years of slow negotiations after the 2016 Brexit referendu...Read More
Treatment charges for zinc and lead concentrates cif China were flat in December, while those in the China domestic market fell on low inventories and consistent demand from smelters. Fastmarkets assessed the zinc spot concentrate TC, cif China at $75-90 per tonne. The lead spot concentrate TC,...Read More
Copper production at Las Bambas, one of Peru's largest mines, may need to be cut from this week if a road blockade continues to prevent concentrates reaching Matarani port, parent company MMG said on Thursday December 24.Some supply contracts are already subject to force majeure, including road and rail transportation services, MMG said. Despite being in place intermittently through...Read More
Spot market copper concentrate treatment and refining charges (TC/RCs) rose by around 5% in the week ending Thursday December 24 with smelters better supplied for the first quarter. The index is now at the highest since July 3. Deals to smelters continued in the high $40s and low $50s for clean qualities, just below the quarterly purchase...Read More
China's Copper Smelters Purchase Team (CSPT) has set its first-quarter copper concentrate treatment and refining charge (TC/RC) buying floor at $53 per tonne / 5.3 cents per lb, down from $58 / 5.8 cents for the fourth quarter, sources told Fastmarkets. This comes after annual benchmark TC/RCs, fees paid to smelters for processing concentrates into metal, for 2021 dropped 4% to $59.50 per tonne /...Read More
Hot-dipped galvanized coil prices continued to increase in Turkey's local market in the week to Thursday December 24, while demand was good because of low stock levels following a recent shortage of coated supply, when some producers had limited hot-rolled coil feedstock, sources told Fastmarkets.Domestic pricesFastmarkets' weekly price assessment for steel hot-dipped galvanized coil domestic, exw...Read More
Market participants reported healthy demand for flat steel in the Turkish market in the week to Thursday December 24 with buyers securing material ahead of expected further price increases. Hot-rolled coil producers in Turkey are offering product for April production and cold-rolled coil is being offered for late February production at the earliest. Production costs also kept increasing this week,...Read More
Offers for steel billet from the Commonwealth of Independent States remained high this week despite buying activity only really being seen in Turkey, sources told Fastmarkets on Thursday December 24.Billet offers from major Russian and Ukrainian suppliers were heard at $600-605 per tonne fob Black Sea on Thursday, up from $580-600 per tonne fob on Monday December 21.One electric-arc furnace (...Read More
Prices for imported hot-rolled and cold-rolled steel coil in the United States surged to their highest levels in more than 12 years amid speculation that scarcity will drive prices higher still in the first quarter of 2021. Import offers are selling out quickly because of "the perception of the market that the US mills are only going to be higher in February, March and April," a national distribut...Read More
The price of pig iron exports from Brazil went up again during the week to Thursday December 24 amid full order books and continued demand in the United States and local markets.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $500 per tonne on Thursday from $480-500 per tonne a week earlier.No trading activity was reported in...Read More
The pig iron import market in the United States went up again during the week to Thursday December 24 amid further restocking.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US surged to $550-560 per tonne on Thursday from $495-520 per tonne a week earlier.One deal was done for Brazil-origin material at $550 per tonne cfr by a distributor in...Read More
The price of shredded steel scrap imported jumped over the week to Thursday December 24 due to the uptrend in the international market, sources told Fastmarkets. India Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $461.63 per tonne on Thursday, up by $32.80 per tonne week on week from $428.83 per tonne one week earlier. One deal was heard this week...Read More
Turkish steel producers have continued to pay higher prices for deep-sea scrap cargoes before the end-of-year holiday season, sources said on Thursday December 24.A steel mill in the Iskenderun region booked a US cargo, comprising 27,000 tonnes of HMS 1&2 (80:20) at $473 per tonne, 5,000 tonnes of shredded at $478 per tonne and 2,000 tonnes of bonus at $483 per...Read More
The uptrend in the pig iron export market from the Commonwealth of Independent States (CIS) continued in the week to Thursday December 24, despite no trades being reported, sources told Fastmarkets.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $500-510 per tonne on Thursday, up from $475-500 per tonne a week earlier....Read More
Import scrap prices in Bangladesh has risen quickly in the past week alongside global spot prices, but buyers are growing increasingly wary, industry source told Fastmarkets on Thursday December 24. "It is a very confusing market this week, with prices all over the place and no one really sure about how things will pan out," a ferrous scrap trader in Singapore told Fastmarkets on Thursday. Offers...Read More
Iron ore prices began to rise again on Thursday December 24, sources said, supported by falling steel inventories in China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.05 per tonne, up $4.02 per tonne62% Fe low-alumina fines, cfr Qingdao: $167.30 per tonne, up $4.94 per tonne58% Fe fines high-grade premium, cfr Qingdao: $154.25 per tonne, up $2.71 per tonne65% Fe Br...Read More