Consumers are committing to lower volumes in long-term ferro-alloys contracts for 2020 compared with last year, according to market sources, creating the conditions for a busier spot market.But tightening ferro-chrome supply has also sparked concerns about over-reliance on the spot market, market sources said. Long-term contracts for ferro-alloys are usually settled against Fastmarkets' European b...Read More
The three-month aluminium price on the London Metal Exchange led gains at the close of trading on Monday January 6, closing firmly above the $1,800-per-tonne support level despite just under 30,000 tonnes of rewarranting this morning, while the light metal's forward spreads widened over the day. Aluminium's outright price on the LME closed at $1,833 per tonne, topping daily gains across the comple...Read More
Seaborne coking coal prices moved up on Monday January 6 with sentiment among steel mills in China and the rest of Asia reported to be positive.Fastmarkets indicesPremium hard coking coal, fob DBCT: $143.16 per tonne, up $3.10 per tonnePremium hard coking coal, cfr Jingtang: $152.12 per tonne, up $0.27 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchanged Hard coking coal, cfr Jingtang...Read More
The three-month nickel price on the London Metal Exchange moved lower during morning trading on Monday January 6 despite low turnover, with price action pressured by a fresh inflow of more than 3,000 tonnes, while the LME zinc price was the most resilient over the morning period. Nickel's outright price was recently seen at $13,665 per tonne, topping morning losses with a downturn of just under 1%...Read More
Seaborne manganese ore prices in China rose in the week ended Friday January 3 on support from reduced availability of material and improved sentiment after Hebei Steel increased its silico-manganese tender price by more than expected. The markets for higher and lower grades of manganese ore on a cif China and fob Port Elizabeth basis increased for the fifth consecutive week after some miners limi...Read More
Fastmarkets copper concentrates treatment and refining charges (TC/RC) index was largely stable week on week due to quiet trading ahead of Lunar New Year on January 25. The copper concentrates TC/RC index was at $54.30 per tonne / 5.43 cents per lb on Friday January 3, compared little changed from $54.80 per tonne / 5.48 cents per lb a week ago. The index rose above $54 per tonne at the...Read More
Here are five Fastmarkets MB stories you might have missed on Monday January 6 that are worth another look.The global finished steel market in 2020 is set to be weighed down by a continuation of last year's weaker end-consumption rates, but there are bright spots coming in the longer term, Fastmarkets analysts forecast.Fastmarkets copper concentrates treatment and refining charges (TC/RC) index wa...Read More
Atlantic Nickel and Appian Capital Advisory have sold the first nickel concentrate from nickel sulfide restart project Santa Rita in Brazil to trading company Trafigura, the Brazilian miner said on Monday January 6.The sale forms part of a three-year offtake agreement and financing facility worth $40.8 million with Trafigura, and comes following the recommencement of mining operations at Bahia-bas...Read More
Shandong-located smelter Dongying Fangyuan is still smelting copper concentrates for cathodes despite the financial difficulties it must overcome to secure raw materials in the face of lawsuits, Fastmarkets has learned.The smelter managed to obtain letters of credit (LCs) from a few domestic agents so it could purchase concentrates with its remaining balance, various sources have confirmed.The age...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 0.9% month on month in November 2019, according to data released by major Japanese trading house Marubeni Corp. Aluminium stocks at the three ports totaled 321,200 tonnes on November 30, up 3,000 tonnes from the end of October, figures released on Monday January 6 showed. This follows a 2.6% month...Read More
The three-month nickel price on the London Metal Exchange moved lower during morning trading on Monday January 6 despite low turnover, with price action pressured by a fresh inflow of more than 3,000 tonnes, while the LME zinc price was the most resilient over the morning period. Nickel's outright price was recently seen at $13,665 per tonne, topping morning losses with a downturn of just under 1%...Read More
Base metals prices on the Shanghai Futures Exchange were mostly up at the close of the morning trading session on Monday January 6, with the complex partly buoyed by the return of participants following year-end holidays and positive trade headlines.But gains were mild against a backdrop of rising geopolitical tensions in the Middle East, the result of a United States-led airstrike killed Iranian...Read More
The global finished steel market in 2020 is set to be weighed down by a continuation of last year's weaker end-consumption rates, but there are bright spots coming in the longer term, Fastmarkets analysts forecast. In some ways, 2019 looked very similar to the year before in the world's steel markets as momentum continued to slow from the supercharged year of 2017. From an apparent consumption vie...Read More
Turkey produced 30.86 million tonnes of crude steel in January-November 2019, down by 10.36% from the corresponding period the year before, according to the Turkish Steel Producers Association (T???oeD).The drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel.The European Commission (EC) imposed definitive safeguard duties on imports of a...Read More
Turkey imported 549,549 tonnes of flat steel in November 2019, up by 53.15% from the corresponding month in 2018, when 358,826 tonnes arrived in the country, the Turkish Statistical Institute (TUIK) said last week.The reason for the sharp year-on-year increase in imports was that Turkish flat steel imports had fallen considerably in November 2018, partly as a result of a political dispute with the...Read More
Turkish exports of flat steel products fell by 46.11% year on year to 406,321 tonnes in November 2019, according to the Turkish Statistical Institute (TUIK).This compares with a volume of 753,915 tonnes in November 2018, TUIK said.The decrease was also due to the fact that Turkish flat steel exports had increased by 139% year on year in November 2018.Coated flat-steel exports fell considerabl...Read More
Despite environmental issues being on the agenda, including the announced switch from the basic oxygen furnace (BOF)- to electric arc furnace (EAF)-based steelmaking process, profitability has been and will likely remain the key driver for Chinese steelmakers when it comes to choosing steelmaking raw materials, Fastmarkets analysts forecast. This has been evident in the decoupling of 62% Fe and 65...Read More
Turkish steel producers have returned to the deep-sea scrap markets for February cargoes with prices remaining largely stable, sources said on Monday January 6.Bookings of four deep-sea cargoes were heard after the daily indices closed late on Friday January 3.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (90:10), 8,000 tonnes of shredded and 2,000 tonnes...Read More
Ferrous scrap prices in most global markets were stable in the week ended Friday January 3 amid an absence of significant spot trading activity due to the year-end festivities.Turkish market remains quiet. United States looks forward to strong start to new year. Taiwanese buyers cut bids. India continues to catch up with international markets. TurkeyTurkish imported scrap prices remained stable th...Read More
Turkish scrap prices have remained largely stable over the past week with the costs for imported scrap remaining similarly steady, sources said on Monday January 6.Only two steel mills have made slight changes in their buy prices for auto bundle scrap over the past seven days.Long steel mill IDC raised its buy price for the...Read More