The domestic price of hot-rolled coil in Northern Europe was largely stable on Monday December 16 although steelmakers continue to insist on higher prices, market sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe was calculated at ?,?431.88 ($480.14) per tonne on Monday compared with ?,?432.08 per tonne on Friday.The assessment is based on "...Read More
South American steel import prices continued to climb during the week ended Friday December 13, following the trend of global prices, as customers rushed to book February-shipment cargoes ahead of the holidays, sources said.Fastmarkets' latest price assessment for steel hot-rolled coil import, cfr main ports South America, was $500-515 per tonne on Friday December 13, a three-month high and up fro...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
Here are five Fastmarkets MB stories you might have missed on Monday December 16 that are worth another look.South American steel import prices continued to climb during the week ended Friday December 13, following the trend of global prices, as customers rushed to book February-shipment cargoes ahead of the holidays, sources said.Participants are taking a cautious approach to the aluminium market...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
Seaborne iron ore prices were largely muted on Monday December 16, while uncertainty on air-quality related production cuts in Tangshan, China, caused a dip in Chinese futures during the day's trading session. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $94.04 per tonne, down $0.59 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $93.13 per tonne, down $0.59 per tonne. 62% Fe low-al...Read More
No deals were heard in the seaborne coking coal market on Monday December 16, though buying interest from China was reported to be steady.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.58 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $147.70 per tonne, unchangedHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking coal, cfr Jingtang: $130.25 per tonne, unch...Read More
Turkish steel producers began the week by booking deep-sea scrap for shipment in February, sources told Fastmarkets on Monday December 16.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 3,500 tonnes of bonus at $310 per tonne cfr.A steel mill in the Izmir region booked a...Read More
Seaborne prices of high- and low-grade manganese ore in China continued to strengthen during the week ended December 13 amid resumed buying interest, market sources said.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, rose by 5 cents week on week to $3.75 per dry metric tonne unit (dmtu) on December 13.Fastmarkets' index for manganese ore, 37% Mn, fob Port Elizabeth, also climbed by 5 cents...Read More
Here are five Fastmarkets MB stories you might have missed on Monday December 16 that are worth another look.South American steel import prices continued to climb during the week ended Friday December 13, following the trend of global prices, as customers rushed to book February-shipment cargoes ahead of the holidays, sources said.Participants are taking a cautious approach to the aluminium market...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
London Metal Exchange nearby aluminium spreads have continued to ease following a significant 30,400-tonne inflow of metal into LME-approved sheds in Singapore on Monday December 16.LME aluminium stocks now total 1,403,075 tonnes, up by 49% from 942,125 tonnes on November 12.LME global aluminium inventories have climbed consistently of late amid persistent spread backwardations, which have attract...Read More
Broader markets are generally upbeat this morning, Monday December 16, helped by last week's partial United States-China trade deal and some positive economic data out of China.But the base metals are mixed and gold prices are up, which suggests there is still some concern about the terms of the trade deal.Chinese industrial production rose 6.2% in November, up from 4.7% previously while retail sa...Read More
Base metals prices on the Shanghai Futures Exchange were mostly little changed to down during the morning trading session on Monday December 16, with investors shrugging off news on Friday that the United States and China have agreed on a "phase one" trade deal.Lead was the worst performer of the complex, with its most-traded February contract sliding to 14,985 yuan ($2,149) per tonne as at 11.30a...Read More
Brazilian aluminium producers are looking to slash the current duty-free import quota in the country by at least 100,000 tonnes per year amid expectations that the Albras smelter will reach full capacity in the coming quarter, market sources told Fastmarkets.The local industry has petitioned that the amount of aluminium ingot allowed to be imported without duties be set at 180,000 tonnes for 2020....Read More
Chinese products have become more competitive in the Asian hot-rolled coil market in recent weeks due to cargoes from other parts of the world being offered into the region at higher prices.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 $480-485 per tonne cfr Vietnam for the...Read More
China's finished steel output grew by 10.4% year-on-year in November as mills raised production in response to steel price gains, according to the National Bureau of Statistics.Finished steel production reached 104 million tonnes during the month, which was also up 1.34% from October.Market participants said that mills had been accelerating their production amid price surges.Hot-rolled coil prices...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, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
China's hot-rolled coil prices were stable on Monday December 16, though some market participants in the eastern region are expecting prices to fall in the next few days with more cargoes being delivered there from the north.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($556-558) per tonne, unchangedNorthern China (Tangshan): 3,640-3,650 yuan per tonne, unchangedA Shanghai-based trader descr...Read More