Indian domestic secondary billet prices have risen by 400 rupees ($6) per tonne in the week ended Friday January 24, on price rises announced by all the country's major iron ore miners.The price of steel billet, domestic, ex-works India, assessed by Fastmarkets on January 24, rose by 400 rupees per tonne to 30,100-30,300 rupees ($422-425) per tonne, compared with last week's assessment at 29,700-2...Read More
The price of stainless steel flat products in the European domestic market was unchanged this week ahead of an expected, but moderate, rise in monthly surcharges for February, sources told Fastmarkets on Friday January 24. Finland's Outokumpu announced that it will raise the alloy surcharge for grade-304 stainless steel flat products for February by ?,?11 per tonne month on month to ?,?1,448...Read More
Key data from the pricing sessions in Europe, the United States and Asia for the week ending Friday January 24. Europe The high-carbon ferro-chrome market rose strongly with some producers reporting increased demand from some end consumers. Production cuts have led to a shortage of lower-priced material to parts of the market, while an increase in offer prices for Indian material has c...Read More
Chinese steelmaker Hebei Jingye Group has moved a step closer to acquiring British Steel following an agreement made with the trade unions that could result in 500 job losses.The proposals from Jingye on terms of employment now need to be agreed by British Steel staff following the negotiations by the various trade unions.Other outstanding hurdles to the deal include Jingye reaching an agreement.....Read More
A summary of Anglo American's production results for iron ore in the fourth quarter and full-year 2019, as well as production guidance for 2020, following the company's report released on Thursday January 23. The South African Kumba unit increased production on both comparisons due to the Sishen mine improving operational performance and the Kolomela mine - both mines are part of the Kumba un...Read More
Hebei Iron and Steel Group (HBIS), also known as Hesteel Group, has secured a yuan-denominated contract to buy iron ore from Vale, China's second-biggest steelmaker said this week.The contract was signed on Monday January 20 according to an announcement on the HBIS website on Thursday, and is worth around 200 million yuan ($29 million).The...Read More
The majority of flat-steel import prices have remained stable week on week in South America, with March-shipment settlements closed and deal-making more scarce while the East Asia-facing market winds down for the lunar new year.Fastmarkets' price assessment for steel plate, import, cfr main ports South America, was $530-540 per tonne on Friday January 24, unchanged for the second consecutive week...Read More
Domestic prices for hot-rolled coil in Northern Europe have been fairly stable day on day but the mood in the market remained upbeat, sources told Fastmarkets on Friday January 24.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?460.81 ($510.25) per tonne on Friday, compared with ?,?461.18 per tonne on January 23.The index was based on deals and "workable"...Read More
Export prices of Brazil-origin slab remained unchanged in the week to Friday January 24, as deals were limited because most producers were sold out of March-shipment volumes.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil, stood at $430-450 per tonne on January 24, unchanged week on week.Brazilian steelmakers had already booked...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday January 24.China Low-grade seaborne manganese ore prices ticked up with market participants expecting higher offer prices after the Chinese new year holiday, running January 24-30, while the high-grade market was stable. There was no liquidity reported, however, because of holiday absences. The ports...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebarEast China, domestic, grade III 16-25mm...Read More
The three-month price of nickel on the London Metal Exchange was lower at the close of trading on Friday January 24, losing more than 3% and sinking below nearby support to close at its lowest level in six months, while tin futures also struggled over the afternoon.Nickel's outright price on the LME settled at $12,950 per tonne on Friday afternoon, losing more than 9% since starting the week when...Read More
Seaborne iron ore prices were rangebound on Friday January 24 while the week-long Chinese New Year holiday starts, but market participants who were still working believe that the outlook is bearish with the ongoing fears of the coronavirus not being contained.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.71 per tonne, up $0.27 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.75...Read More
The three-month nickel price on the London Metal Exchange was lower during morning trading on Friday January 24, with price action continuing its descent against consistent inflows, while copper futures found support back above nearby resistance. Nickel's outright price on the LME was recently seen at $13,285 per tonne, 0.7% below Thursday's closing price of $13,350 with just 536 lots exchanged as...Read More
Pig iron import prices in the United States have softened under a bearish mood in the scrap market, sources told Fastmarkets on Friday January 24.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $345-350 per tonne on Friday, widening downward from $350 per tonne a week earlier.Several bookings of Russia-origin material were heard at $345-348 per tonne cfr. "Deal...Read More
The three-month price of nickel on the London Metal Exchange was lower at the close of trading on Friday January 24, losing more than 3% and sinking below nearby support to close at its lowest level in six months, while tin futures also struggled over the afternoon.Nickel's outright price on the LME settled at $12,950 per tonne on Friday afternoon, losing more than 9% since starting the week when...Read More
Lingering demand from Asia caused prices for some aluminium scrap grades in the United States to climb again this past week despite the Lunar New Year holiday, celebrated January 24-30."Export is very strong right now and that's impacting what's available domestically. You have consumers like us who are trying to buy scrap, and the price is really high," one US-based consumer said.Particular inter...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
A summary of Buenaventura's lead, zinc and copper production and sales volumes for the fourth quarter and full-year 2019, following the company's report released on Friday January 24. The Peruvian mining company missed its own full-year targets for zinc and copper production at most of its units, besides the Tambomayo mine in the southern Caylloma province of Peru. Lead output at the El Brocal min...Read More
Fastmarkets' copper concentrates TC/RC index dips while the market pivots to second-quarter buying and participants expect greater spot demand to build during that time.A weekly brief on the Fastmarkets' copper concentrate index. Fastmarkets copper concentrates TC/RC index dips while the market starts to focus on April delivery material with participants expecting spot demand to increase...Read More