Some Turkish hot-rolled coil producers increased their prices again during the week ended Friday December 27 but market activity was subdued because of the usual year-end slowdown.Raw material prices, especially those of scrap, have continued to increase recently. Fastmarkets' daily index of steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $303.39 per tonne on December 24, rising f...Read More
China's domestic hot-rolled coil market was largely stable on Friday December 27, though some mills have started to take export orders at lower prices amid thin trading.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($557-559) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, unchangedTrading activity was reported as stable during the day amid sus...Read More
China's domestic rebar prices increased on Friday December 27 on a pick-up in demand ahead of the weekend. Eastern China (Shanghai): 3,640-3,670 yuan ($520-524) per tonne, up 10-30 yuan per tonneNorthern China (Beijing): 3,500-3,530 yuan per tonne, up 10-20 yuan per tonneBuyers encouraged by the gains in the futures market in the past couple of days raised their procurement rates. The...Read More
The Turkish deep-sea scrap import markets remained quiet at the end of the week because of the traditionally slower Christmas holiday period, sources said on Friday December 27.The most recent deep-sea scrap cargo was sold on December 20 at $303 per tonne cfr for HMS 1&2 (80:20) from the Baltic Sea region.The market has been moribund...Read More
Vale has entered into an agreement to sell its 25% stake in Chinese coal producer Henan Longyu Energy Resources Co to Yongmei Group for 1.07 billion yuan ($152 million), the Brazilian mining company said on Friday December 27.Longyu operates two coal mines in the Chinese province of Henan, producing around 3.4 million tonnes per year of metallurgical and thermal coal, Vale added. The buyer, Yongme...Read More
Seaborne iron ore prices rose on Friday December 27 because of trades heard at higher levels.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.51 per tonne, up $0.88 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.60 per tonne, up $0.88 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.65 per tonne, up $1.04 per tonne.58% Fe fines high-premium, cfr Qingdao: $77.73 per tonne, up...Read More
Trading activity in the seaborne coking coal market was robust this week despite it being the end of the year, with over 800,000 tonnes of premium products changing hands.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.25 per tonne, up $0.12 per tonnePremium hard coking coal, cfr Jingtang: $148.77 per tonne, up $0.82 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard...Read More
Liquidity in the Asian ferrous scrap market thinned this week due to year-end holidays, with some buying heard in Taiwan and Vietnam, albeit involving small quantities. Sellers in the United States are on their Christmas vacation while those in Japan kept prices stable.VietnamFastmarkets' price assessment for bulk shipments of steel scrap HMS 1&2 (80:20), cfr Vietnam was $300-305 per tonne cfr on...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
The China Smelters Purchase Team (CSPT) has set its treatment and refining charges (TC/RCs) purchase price floor for the first quarter of 2020 at $67 per tonne and 6.7 cents per lb, sources told Fastmarkets on Thursday December 26.The CSPT, which comprises purchasing managers from the country's largest copper smelters, made the decision at its quarterly meeting in Fuzhou city, Fujian province, on...Read More
Base metals prices on the Shanghai Futures Exchange were mixed at the close of the morning trading session on Thursday December 26, with activity remaining limited ahead of year-end holidays."It is the holiday season and market activity is very thin because many people are on their vacation now," a base metals analyst in Shanghai told Fastmarkets.Participants have been winding down ahead of holida...Read More
Copper cathode premiums in China fell this week amid year-end destocking, a lack of significant spot demand and a persistently closed import arbitrage window between Shanghai and London.Fastmarkets assessed the copper grade A cathode premium, cif Shanghai at $42-55 per tonne on Tuesday December 24, down by $8 per tonne from $50-63 per tonne a week earlier. The latest assessment marks the lowest si...Read More
The China Smelters Purchase Team (CSPT) has set its treatment and refining charges (TC/RCs) purchase price floor for the first quarter of 2020 at $67 per tonne and 6.7 cents per lb, sources told Fastmarkets on Thursday December 26.The CSPT, which comprises purchasing managers from the country's largest copper smelters, made the decision at its quarterly meeting in Fuzhou city, Fujian province, on...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 25.Key drivers Cobalt sulfate prices ticked up on Wednesday amid increased inquiries from consumers who need to restock ahead of a temporary suspension of logistics services, which will take place around mid-January, a week before the Chinese New Year holiday (January 24-30).Meanwhile, producers have broadly...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 25Key drivers After declining for six weeks, Fastmarkets assessed the price of antimony, MMTA standard grade II, ddp China as flat week on week at 36,500-37,000 yuan ($5,219-5,291) per tonne on Wednesday December 25.Many suppliers had kept their offer prices unchanged over the past week.Some consumers had re-entered the mark...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 25.Key drivers Cobalt sulfate prices ticked up on Wednesday amid increased inquiries from consumers who need to restock ahead of a temporary suspension of logistics services, which will take place around mid-January, a week before the Chinese New Year holiday (January 24-30).Meanwhile, producers have broadly...Read More
China's hot-rolled coil producers kept their export offers high on Thursday December 26 amid stability in the domestic market.DomesticEastern China (Shanghai): 3,890-3,910 yuan ($556-559) per tonne, widening upward by 10 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, narrowing upward by 10 yuan per tonneA Shanghai-based trader reported moderate trading activity in eastern China dur...Read More
Northern China's Puyang Iron & Steel (Puyang Steel) plans to add 1.37 million tonnes per year of iron-making capacity and 1.52 million tpy of crude steel capacity in December 2021, according to Hebei Provincial Industry & Technology Information Department. New facilities: one 1,580-cubic-meter blast furnace, one 140-tonne converterConstruction start date: March 2020Location: Handan city,...Read More
Two steel mills in northern China have sold 2.21 million tonnes per year of iron-making capacity and 1.52 million tpy of crude steel capacity to mills in the southern region, according to local government notices released earlier this week.Seller: Hebei Chengde Shengfeng SteelLocation: Chengde city, Hebei provinceCapacity sold: 1.48 million tpy of iron-making capacity, 1.52 million tpy of crude st...Read More
China's domestic rebar prices dropped further in the morning of Thursday December 26 on weak demand, though they recovered in the latter part of the day due to rising futures. Eastern China (Shanghai): 3,610-3,660 yuan ($516-523) per tonne, down 20-40 yuan per tonneNorthern China (Beijing): 3,480-3,520 yuan per tonne, down 10-20 yuan per tonnePrices in eastern China dropped to 3,610-3,630 yuan per...Read More