Rebar producers in the United Arab Emirates increased their prices for January production, effective Thursday, December 19.The country's biggest producer, Emirates Steel, is offering rebar at 1,900 dirhams...Read More
Turkish steel mills have continued to stay away from the deep-sea scrap markets on Thursday December 19 and are focusing on finished steel sales, participants told Fastmarkets.Mills in the country went quiet earlier this week after booking two deep-sea cargoes at steady prices of $299-300 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20).The offers for deep-sea scrap then increased to $305-310 p...Read More
Ukrainian steelmaker Metinvest plans to continue cutting pig iron shipments in 2020 and to further increase its slab and steel output, sales director Dmitry Nikolayenko told Fastmarkets on the sidelines of the Middle East Iron & Steel (MEIS) conference in Dubai last week.In 2020, Metinvest's pig iron shipments will be down by about 200,000 tonnes compared with 2019, the company said.Over the first...Read More
The European steel industry has welcomed the European Commission's recently launched European Green Deal although further policy and support are required to ensure competitiveness.The European Union plans to be the first climate-neutral continent by 2050 through key policies to cut emissions and invest in research and innovation for green technologies. The decarbonization and modernization of ener...Read More
Seaborne iron ore prices experienced a slight uptick on Thursday December 19 amid ferrous futures gains in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.77 per tonne, up $0.57 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.86 per tonne, up $0.57 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.66 per tonne, up $0.54 per tonne.58% Fe fines high-premium, cfr Qingdao: $...Read More
Seaborne coking coal prices remained largely rangebound on Thursday December 19 despite more deals being concluded.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.12 per tonne, down $1.55 per tonnePremium hard coking coal, cfr Jingtang: $148.13 per tonne, up $0.80 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking coal, cfr Jingtang: $134.9...Read More
What's in store for the steel and scrap markets in 2020? There is a good mix of opportunities and threats in the global ferrous trading environment in 2020, according to five major traders with supply chains out to the far reaches of the world. China's volatile policy changes, blooming markets in South Asia, a global trade war and excess steel supply will continue to have significant sway over the...Read More
China's domestic rebar prices moved up slightly on Thursday December 19 amid rising futures after the release of data pointing to a drop in output. Domestic Eastern China (Shanghai): 3,810-3,840 yuan ($544-548) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,500-3,540 yuan per tonne, up 10-20 yuan per tonneMajor steel mills produced 3.58 million tonnes of rebar in the week to Thursday,...Read More
Spot market prices for alloy-grade and standard-grade cobalt diverged in the first half of the week. Large spot inquiries continued to materialise for certain brands and shapes of metal, though sales of off-grade units have clouded any optimism in the standard-grade market so far.Fastmarkets' price assessment for cobalt, standard-grade, in-whs Rotterdam, fell 10 cents on the high and low of the ra...Read More
Two weeks of strikes in protest against government plans to reform pension arrangements have delayed some minor metals deliveries that will now be postponed until 2020."It's very difficult to get material in and out of France and this is practically the last week of the year to ship goods to customers," a European minor metals trader said. "From next week onwards, most manufacturers close or are...Read More
U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 2 points in pre-opening trade.Today is "Triple Witching Day": last trade day for December equity and index futures and options. Volumes are expected to be higher than average. Index futures were virtually unchanged following release of the next estimate of third quarter GDP at 8:30 AM EST. Consensus was growth...Read More
The three-month prices of base metals on the London Metal Exchange traded in slim ranges to consolidate mixed at the afternoon kerb on Wednesday December 18.LME base metals three-month prices were seemingly torn between closing up on US-China trade talk optimism now a phase one deal has been agreed between the world's two largest economies, or down, capped by a stronger US dollar index, which was...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 18.Please click...Read More
Spot activity was low across zinc markets in Asia, Europe and the United States in the week ended Tuesday December 17 with much of the focus on next year's contractual supply premium discussion. Market focus was drawn away from spot activity and toward next year's contractual supply premium discussions. The International Lead & Zinc Study Group (ILZSG) says both the refined zinc and lead ma...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday December 18 that are worth another look.Brazilian flat steel producers are seeking price increases of around 5-8% in 2020 annual contract talks with automakers, according to several market participants.The United States and China reaching a partial trade agreement elicited a muted response from metals markets this week.Mangane...Read More
Shanghai copper cathode premiums dropped to a six-month low in the week ended Tuesday 17, while in Europe spot interest was muted as market participants eyed lower annual premiums for 2020 and in the Unites States the market remained flat amid poor demand.Shanghai deliverable premium assessments at six-month low EQ premiums trading lower in Shanghai Some sellers start to offer annual premiums in E...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 18.Key driversThe price range of alloy has narrowed over the past week, with the low end moving up as sources reported deals done towards the upper end and with previous lows disappearing.Producers and traders are preparing for renewed demand in January in expectation of consumers in the steel sector and other usage areas.T...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 18.Key driversThe price range of alloy has narrowed over the past week, with the low end moving up as sources reported deals done towards the upper end and with previous lows disappearing.Producers and traders are preparing for renewed demand in January in expectation of consumers in the steel sector and other usage areas.T...Read More
Indonesian ferrous scrap demand should continue to grow in 2020 despite the new rules imposed by authorities."The new regulations should be smoothed out over the next couple of months and containerized scrap shipments should resume within the first half of the year," Hoffman Iron & Steel chief executive Phil Hoffman told Fastmarkets.He was referring to the new regulations enacted by the Indonesian...Read More