This year's annual benchmark treatment charges (TCs) for zinc and lead concentrates are expected to rise due to high supply and the novel coronavirus (2019-nCoV) outbreak in China and beyond affecting the raw materials market.Market participants gathered at the 2020 International Zinc & Zinc Oxide Conferences in Scottsdale, Arizona, in the United States, this past week for the annual contract benc...Read More
Seaborne iron ore prices were rangebound on Friday February 21 with market participants retreating to the sidelines, though trading activity at Chinese ports remained robust.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.25 per tonne, up $0.24 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.58 per tonne, up $0.24 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.16 per tonne,...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday February 21.China The seaborne price of low-grade manganese ore was static, with buyers resisting attempts by some producers to raise offer prices, amid high inventories and weak demand. The seaborne price of high-grade manganese ore rose after some deals were concluded at higher offer levels, with l...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 21.ChinaThe price of UG2 chrome ore dropped amid bids from alloy smelters as low as $130 per tonne after China's major stainless steel mills kept their February tender prices flat month-on-month.The market had expected a rise and the rollover knocked sentiment.Spot Chinese ferro-chrome pric...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday February 21, closing at its lowest level since June 2019 against thin turnover, while lead futures failed to hold onto gains made earlier in the day.Nickel's outright price on the LME closed at $12,530 per tonne in the afternoon, ending a weekly price decline that saw it sink from a high of $13,21...Read More
Vale reported a net loss of $1.56 billion in the fourth quarter of 2019, compared with a net profit of $3.79 billion in the corresponding period a year earlier, due to impairment charges and provision expenses.Vale's results in the fourth quarter were affected by a $4.20 billion impairment charge relating to a revision of its New Caledonia nickel business and a revaluation of expectations of its c...Read More
The price of stainless steel in the European domestic market was unchanged in the week to Friday February 21, but decreases are expected for March due to weaker nickel values, sources told Fastmarkets.Finland-based stainless steel producer Outokumpu announced on Friday that its monthly alloy surcharge for grade-304 flat products in March will decrease by ?,?79 per tonne from February, to...Read More
Fastmarkets' copper concentrates treatment and refining charges (TC/RC) index remains at its highest level since March 2019 this week, with Chinese smelters more active on taking tonnages as production slowly comes back with logistics resumption.A weekly brief on the Fastmarkets' copper concentrate index:At $65.80 per tonne/6.58 cents per lb, the index is now at its highest level since late March...Read More
Logistics disruptions across China have paralysed many of the country's supply chains since the outbreak of a novel coronavirus infection forced authorities to clamp down on movements of material and people within the country.What has become increasingly evident is that different areas have seen their abilities to operate and to move cargoes affected to varying degrees, and that some mining, metal...Read More
Global commodity trading company Trafigura is to closeits Stamford, Connecticut office in the United States and has offered to relocate staff to its trading hub in Houston, Texas. The closure, which will take place through the course of the year, affects the company's non-ferrous concentrates, refined metals and bulk minerals team. "Going forward this business will be run from the company's well-e...Read More
This year's annual benchmark treatment charges (TCs) for zinc and lead concentrates are expected to rise due to high supply and the novel coronavirus (2019-nCoV) outbreak in China and beyond affecting the raw materials market.Market participants gathered at the 2020 International Zinc & Zinc Oxide Conferences in Scottsdale, Arizona, in the United States, this past week for the annual contract benc...Read More
Flat-rolled steel import prices in South America dropped this past week due to pressure from low-priced offers from China and weak sentiment among buyers.Several market participants believe the drop in offers and bids are a consequence of the outbreak of the novel coronavirus (2019-nCoV).Offers for hot-rolled coil from China were heard at around $510 per tonne cfr this past week, while o...Read More
Prices for hot-rolled coil in the United Stated dropped below $29 per hundredweight ($580 per short ton) again, due to some deeply discounted deals being made to fill certain mills' order books prior to a new rumored price increase announcement, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $28.70 per cwt ($574 per ton) on Friday February 21...Read More
Domestic prices for hot-rolled coil in Northern Europe have increased day on day due to better demand from distributors, sources told Fastmarkets on Friday February 21.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?483.99 ($522.49) per tonne on Friday February 21, up by ?,?2.92 per tonne from ?,?481.07 per tonne on February 20.The index was calculated ba...Read More
The price for commercial-grade hot-rolled coil imports to India has fallen by $10 per tonne in the week to Friday February 21 after material from South Korea was booked at $500-505 per tonne cfr.Fastmarkets' assessed the price for steel hot-rolled coil import, cfr main port India at $500-505 per tonne on Friday, down from $510-515 per tonne a week earlier. "Domestic [Indian] HRC prices are un...Read More
Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil increased in the week to Friday February 21, amid improving demand and low stock levels, sources told Fastmarkets.In addition, some coated coil producers still had a shortage of hot-rolled coil - the base product for coated flat steel - so were reluctant to give discounts.Domestic pricesLocal producers were offering...Read More
Hot-rolled coil import prices decreased in Turkey during the week ended Friday February 21, with demand remaining moderate due to low domestic stock levels across the country, market participants said.Scrap prices continued to increase during the week, with the Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, reaching $273.48 per tonne on February...Read More
Polish domestic rebar prices were stable during the week to Friday February 21 after a decrease the previous week, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, was unchanged at 2,050-2,150 zloty ($517-543) per tonne on February 21. This follows a decline to this level on February 14 from 2,150-2,200 zloty...Read More
Higher raw materials costs in the global market, particularly for scrap, spurred some Egyptian rebar producers to raise their offers to domestic customers during the week to Thursday February 20.Ezz Steel was offering rebar at E ?10,100 ($646) per tonne, up from E ?9,900 per tonne a week earlier, although it was ready to give an E ?80-per-tonne discount if a firm bid was made.Suez Steel announced...Read More
Export pig iron prices from southern Brazil went up during the week ended Friday February 21 on a resumption of sales.Fastmarkets' weekly price assessment for pig iron, export, fob port of Vitoria/Rio was $315 per tonne on Friday, up from $305-310 per tonne a week earlier.A sale of 15,000 tonnes of low-phosphorous pig iron for April shipment was sold to the United States at $315 per tonn...Read More