Prices in the CIS export slab market rose above $400 per tonne fob Black Sea on Monday December 16, as customers from some destinations accepted higher offers on a sharp increase in finished flat steel prices.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $400-405 per tonne on Monday December 16, up from $385-395 per tonne a week earlier.A cargo of Ukrainan sl...Read More
Ferrous scrap prices in Mexico increased further for the week ended Friday December 13, following a continued upward trend in global steel scrap prices and improved sentiment following the latest settlement in the United States.Some steelmakers in Mexico's central Baj?-o region increased their buying prices by around 200 pesos ($10.52) per tonne late last week due to higher prices in the US, but n...Read More
Turkish steel mills made no fresh deep-sea transactions on Tuesday December 17, with prices remaining stable, market sources said.Mills started the week by booking two Baltic Sea cargoes on Monday for February shipment.A steel mill in northern Turkey booked a Baltic Sea cargo comprising 10,000 tonnes of HMS 1&2 (80:20) at $299 per tonne cfr, 15,000 tonnes of shredded at $304 per tonne cfr, and 3,5...Read More
Indonesian ferrous scrap buyers are still cautious about purchasing imported cargoes even after state-owned surveyor KSO Sucofindo resumed inspections this week."Some traders are rushing to buy cargoes to supply Indonesian customers again but not all buyers are in the market yet," an industry source in Singapore told Fastmarkets on Tuesday December 17.Negotiations for containerized ferrous scrap i...Read More
Seaborne iron ore prices were largely rangebound on Tuesday December 17 despite pollution curbs being removed in Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.07 per tonne, up $0.03 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.16 per tonne, up $0.03 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.95 per tonne, up $0.28 per tonne.58% Fe fines high-premium, cfr Q...Read More
Prices of seaborne premium hard coking coal slipped on a fob Australia basis on Tuesday December 17 while cfr China rates remained underpinned by decent demand and the strength of the coke market in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.16 per tonne, down $2.42 per tonnePremium hard coking coal, cfr Jingtang: $147.33 per tonne, down $0.37 per tonneHard coking coal, fob...Read More
Ukraine's Metinvest will start shipments of direct-reduced (DR) iron pellet in 2020, sales director Dmitry Nikolayenko told Fastmarkets on the sidelines of the Middle East Iron and Steel conference in Dubai last week. "We plan to produce annually up to 2 million tonnes of pellet with higher iron content for both [blast furnace] and DR segments," Nikolayenko said. "From the total tonnage, up to 1 m...Read More
China's hot-rolled coil exporters raised their offers on Tuesday December 17 despite a stable domestic market amid improved sentiment as a result of easing tensions between the country and the United States.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($556-557) per tonne, unchangedNorthern China (Tangshan): 3,640-3,650 yuan per tonne, unchangedMarket participants expect domestic prices to e...Read More
China's domestic rebar market continued to weaken on Tuesday December 17, with market participants remaining cautious despite regional arbitrage opportunities emerging as a result of a wide price gap between the northern and eastern regions. Eastern China (Shanghai): 3,830-3,860 yuan ($549-553) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,500-3,520 yuan per tonne, down 50 yuan per...Read More
Broader markets are generally still upbeat this morning, Tuesday December 17, with equities in Asia following the lead from western markets on Monday, although the metals are for the most part consolidating.The fact the metals are holding on to recent gains is impressive considering Monday's flash purchasing managers' index (PMI) data out across Europe and the United States was generally weak. It...Read More
Base metals prices on the Shanghai Futures Exchange were mostly up during the morning trading session on Tuesday December 17, with the complex reacting to the positive news surrounding a trade deal between China and the United States.With the exception of tin that was little changed and lead that dipped by 0.3%, the SHFE base metals were all up from their Monday closes this morning.Nickel was the...Read More
Broader markets are generally weaker this morning, Wednesday December 18, with equities in Asia mainly lower, metals mixed and havens little changed.In Europe, fear that a hard Brexit has not vanished is weighing on sentiment, especially in sterling, while a lack of detail on the United States-China trade deal has made it difficult for markets to see further follow-through buying. Equities in Asia...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. The Canadian Dollar was virtually unchanged at 76.06 following release of Canada's November Consumer Price Index at 8:30 AM EST. Consensus for November CPI was a decline of 0.1% versus an increase of 0.3% in October. Actual was a decline of 0.1%. FedEx dropped $10.70 to $152.53 after repo...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices) By Eric Onstad LONDON, Dec 17 (Reuters) - Copper touched a new seven-monthpeak on Tuesday as investors began looking beyond the U.S.-Chinatrade deal to potential shortages next year due to productionproblems. Three-month copper on the London Metal Exchange (LME) climbed to an intraday high of $6,223 a tonne, thestrongest since May 8, befo...Read More
The three-month prices of base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Monday December 16, emboldened by positive China data, while a weaker US dollar provided a consumption tailwind. "LME base metals three-month prices are stabilizing... there is a cautious optimism in the air," Fastmarkets research analyst Andy Farida said. "But a trade deal between...Read More
Environmental, social and corporate governance (ESG) is no longer a niche concern in the natural resources sector.Corporate governance and community issues have typically dominated the sustainability and ethical criteria of mining companies and their investors. But more recently, the focus has shifted.Environmental factors, particularly decarbonization, have come to the fore amid increasingly stri...Read More
Participants are taking a cautious approach to the aluminium market in 2020, with poor downstream demand and low product premiums threatening already-tight margins in the industry.Premiums for downstream products such as aluminium billet in the United States and Europe are both at record lows, forced down by an absence of demand this year - a trend that is expected to continue. The demand drought...Read More
Chinese ferro-chrome producers cut their offers last week to generate cash, putting downward pressure on spot prices. Selling pressure weighs on Chinese spot domestic ferro-chrome marketCharge chrome, chrome ore prices flat in thin tradingEuropean ferro-chrome prices tick up on tight supplyUS market widens slightly lower in lackluster tradingThe Chinese spot domestic ferro-chrome price continued l...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe and China.To view the latest price assessments, follow the links below:Europe- Ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe, $/kg V- Vanadium pentoxide 98% V2O5 min, in-whs Rotterdam, $/lb V2O5China- Ferro-vanadium 78% V min, fob China, $/kg V- Vanadium pentoxide 98% V2O5 m...Read More
Key data from the pricing sessions in London and Shanghai in the week ended Friday December 13.Europe Key drivers The ammonium paratungstate (APT) price in Europe continued to edge up last week. The low end of the range moved up for a second consecutive week due to tightening supply of concentrate. Prompt availability of stock in Europe is also tightening because consumers are back in...Read More