Base metals prices on the Shanghai Futures Exchange were mixed at the close of the morning trading session on Monday December 30, but movements were largely limited amid the year-end slowdown.The exceptions to this rangebound trading were nickel and tin. The most-traded March nickel contract rose to 111,690 yuan ($15,963) per tonne at the close of the morning trading session on Monday, up by 1,700...Read More
The Commonwealth of Independent States export billet market was largely stable due to quiet trading conditions on Monday December 30 amid a pre-holiday lull in the region and in the customers' markets. "Major mills sold out of material scheduled for shipment in February and are now in wait-and-see mode before entering the market with...Read More
Fastmarkets reviews how much of the EU safeguarding import quota allowances for hollow sections has been used and by who, with an estimation of when they will be exhausted country by country at the current usage rates. Read More
China's rebar prices continued to gain on Monday December 30 following a rise in the futures market, which boosted trading in the east of the country.DomesticEastern China (Shanghai): 3,680-3,720 yuan ($526-532) per tonne, up 40-50 yuan per tonneNorthern China (Beijing): 3,550-3,570 yuan per tonne, up 40-50 yuan per tonneA Shanghai-based trader said sentiment in the spot market was lifte...Read More
Import prices for rebar in Singapore were unchanged over the past week amid limited trading activity due to the year-end holiday season. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore, which mainly looks at cargoes sold into Singapore on a theoretical-weight basis, was $445-450 per tonne for the week to Monday December 30, flat from a week earlier."The...Read More
Hot-rolled coil prices in Asia have continued upward this past week to surpass $500 per tonne cfr Vietnam amid stable demand and increases in offers from sellers.Fastmarkets' assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $500-505 per tonne cfr for the week ending Monday December 30, up b...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Turkish domestic scrap prices remained stable over the past week on the back of steady imported scrap values, sources said on Monday December 30.All the country's steel producers kept their buying prices for auto bundle scrap unchanged over the past seven days.As a...Read More
Physical iron ore prices were generally rangebound on Monday December 30, with low-alumina fines continuing to outperform.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.08 per tonne, down $0.43 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.17 per tonne, down $0.43 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.34 per tonne, down $0.31 per tonne.58% Fe fine...Read More
Seaborne coking coal prices were stable on Monday December 30, with the result of a miner's tender not confirmed at the time of writing. Fastmarkets indices Premium hard coking coal, fob DBCT: $133.65 per tonne, up $0.40 per tonne Premium hard coking...Read More
Seaborne iron ore concentrate prices weakened last week with the wider market, while pellet pricing held ground.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $105.62 per tonne last Friday December 27, down by $2.31 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, averaged $102.38 per tonne last...Read More
Key data from the pricing session in Shanghai in the week to Friday December 27. China Key drivers: The export price range for Chinese silicon 5-5-3 moved up by 1% from the previous week due to tight supply. Chinese producers have significantly decreased their output over 2019 in response to unfavorable...Read More
An auction for 3,609.5 tonnes of indium once held by China's defunct Fanya Metal Exchange has failed to attract any bids, according to an official notice published via the Alibaba judicial online platform on Monday December 30.The auction, which had an opening bid of 790 yuan ($113) per kg, closed at 10am Shanghai time on Monday.Market participants were surprised that the indium stockpile, which r...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. The Shanghai Composite Index gained 10.10 to 3,050.12 after China's December PMI advanced to 50.2. Consensus was 50.1. The Index moved above 3,042.93 and 3,048.48 completing a reverse Head & Shoulders pattern.Nvidia (NVDA $232.32) is expected to open higher after Benchmark raised its tar...Read More
Malaysia will impose anti-dumping tariffs of up to 26.39% on cold-rolled coil imported from China, Japan, South Korea and Vietnam. The import taxes will be in effect for five years from December 25, 2019, to December 24, 2024, Malaysia's Ministry of Trade and Industry (MITI) said earlier this week.The products subject to the duties are cold-rolled coils of iron or non-alloy steel, of...Read More
The European Commission (EC) is planning to again review its safeguard measures for hot-dipped galvanized (HDG) flat steel destined for the automotive sector, market sources told Fastmarkets this week.In the definitive measures for metallic-coated sheets (product category 4), the EC split the product category into two sub-categories, 4A and 4B, with the automotive sector mainly consuming...Read More
Overcapacity in the global steel sector has been an issue for many years, but has intensified in the recent years, according to Ankur Dana, chief executive officer of Dubai-based multinational Dana Group .Global overcapacity causes steel prices to fall, so governments should only approve new capacities if there is need, Dana said at Fastmarkets' Middle East Iron and Steel Conference in Dubai on De...Read More
World equity markets continued their intermediate uptrend last week. Strength was recorded despite recent concerns including an earnings recession by major U.S. companies until the first quarter next year, growing efforts by the Democrats to impeach Donald Trump and growing Middle East and Hong Kong tensions. Seasonal influences remain positive for most equity markets until the end of the first we...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The price of alumina in China edged higher this week, breaking a run of 14 consecutive weekly declines, on reports of substantial production cuts in the country.Fastmarkets' weekly price assessment of alumina metallurgical grade, ddp China stood at 2,330-2,460 yuan ($333-352) per tonne on Friday December 27, up by 30-40 yuan per tonne or 1.5% from 2,300-2,420 yuan per tonne a week earlier, when th...Read More