UK suppliers of steel scrap to domestic consumers in the steel sector have gained another round of price increases for monthly settlements, sources told Fastmarkets on Thursday December 12.December contracts were up ?10 ($13) per tonne after increasing by ?15 per tonne in November, they said.The move marks a change in the downward trend of September and October when prices fell by a combined ?6...Read More
Turkish steel producers have resumed their deep-sea scrap purchases after a short break for negotiations, sources said on Thursday December 12.A steel mill in the Marmara region booked a 40,000-tonne US cargo, comprising HMS 1&2 (80:20) at $297 per tonne, shredded at $302 per tonne and bonus at $307 per tonne cfr.A steel producer in the Iskenderun region booked a 30,000-tonne Baltic Sea cargo of H...Read More
Physical iron ore prices softened on Thursday December 12 amid losses in Chinese rebar prices and news of production restrictions in Anyang city, central China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.02 per tonne, down $0.65 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.11 per tonne, down $0.65 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.63 per t...Read More
Steel billet prices in Turkey increased over the past week in response to the rising cost of imported scrap, sources told Fastmarkets on Thursday December 12.Suppliers of material from the Commonwealth of Independent States (CIS) raised their offers for Turkey to $420-425 per tonne cfr this week, up from $410-415 per tonne last week. However, buyers in Turkey prefer domestic billet...Read More
Prices for steel billet and rebar in Egypt continued to rise in the week ended Thursday December 12 amid moderate demand from the construction sector, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?10,000-10,580 ($618-654) per tonne ex-works including 14% VAT.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Egypt,...Read More
China's domestic rebar prices dropped on Thursday December 12 on concerns over high production rates. Eastern China (Shanghai): 3,900-3,930 yuan ($555-559) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,580-3,600 yuan per tonne, down 60-70 yuan per tonne Domestic rebar output totaled 3.66 million tonnes over the week ended Thursday, up 31,000 tonnes from the preceding week, acco...Read More
The United States' flat-rolled import market is mixed, with prices for imported hot-rolled coil, cold-rolled coil and galvanized sheet inching up while those for plate are steady - although the material from abroad has failed to entice domestic buyers."Imports, just forget it. [Hot-rolled coil from Mexico] isn't attractive at all, it's pretty much the domestic price," a US steel distributor source...Read More
UK suppliers of steel scrap to domestic consumers in the steel sector have gained another round of price increases for monthly settlements, sources told Fastmarkets on Thursday December 12.December contracts were up ?10 ($13) per tonne after increasing by ?15 per tonne in November, they said.The move marks a change in the downward trend of September and October when prices fell by a combined ?6...Read More
The three-month nickel price on the London Metal Exchange was higher at the close of trading on Thursday December 12, breaching nearby resistance despite its largest single inflow since 2016. Nickel's outright price on the LME closed at $14,100 per tonne this afternoon, a climb of 1.5% from Wednesday's closing price of $13,850 per tonne. Turnover in nickel was high over the day, with just over 9,4...Read More
Domestic prices for hot-rolled coil in Northern Europe have been largely unchanged day on day and sentiment in the market remains positive, sources told Fastmarkets on Thursday December 12.Domestic prices have been supported by combination of reduced output from European mills, a lack of competitive import offers and some demand recovery.Fastmarkets' daily steel hot-rolled coil index domestic, ex-...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 12 that are worth another look.Middle Eastern steel producers need to diversify their product lines to survive weakening demand in the region, according to Saeed Ghumran Al-Remeithi, the chief executive officer of the United Arab Emirates' biggest steelmaker, Emirates Steel.China's domestic stainless steel prices dropp...Read More
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More
The three-month nickel price on the London Metal Exchange was higher at the close of trading on Thursday December 12, breaching nearby resistance despite its largest single inflow since 2016. Nickel's outright price on the LME closed at $14,100 per tonne this afternoon, a climb of 1.5% from Wednesday's closing price of $13,850 per tonne. Turnover in nickel was high over the day, with just over 9,4...Read More
The seaborne coking coal market saw a day of ample spot activity on Thursday December 12, with cargoes trading on both a cfr China and an fob Australia basis.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.58 per tonne, up $0.59 per tonnePremium hard coking coal, cfr Jingtang: $147.96 per tonne, down $0.60 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchanged...Read More
The three-month nickel price on the London Metal Exchange consolidated during morning trading on Wednesday December 12, with another fresh inflow of 25,518 tonnes into several locations elevating a weak LME nickel stock count. Nickel's outright price on the LME was recently at $13,775 per tonne, a drop of just 0.4% from Wednesday's closing price of $13,850 per tonne. Turnover in nickel was high o...Read More
Benchmark alumina prices for spot cargoes stabilized around $280 per tonne on Thursday December 12 while participants focus on business for 2020.Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $279.46 per tonne on Thursday, little changed from $279.40 per tonne on the previous day. The index was above $280 per tonne on December 9 for the first time since November 14. Ke...Read More
Turkish steel producers have resumed their deep-sea scrap purchases after a short break for negotiations, sources said on Thursday December 12.A steel mill in the Marmara region booked a 40,000-tonne US cargo, comprising HMS 1&2 (80:20) at $297 per tonne, shredded at $302 per tonne and bonus at $307 per tonne cfr.A steel producer in the Iskenderun region booked a 30,000-tonne Baltic Sea cargo of H...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 12 that are worth another look.Middle Eastern steel producers need to diversify their product lines to survive weakening demand in the region, according to Saeed Ghumran Al-Remeithi, the chief executive officer of the United Arab Emirates' biggest steelmaker, Emirates Steel.China's domestic stainless steel prices dropp...Read More
Key data from the price assessment on Thursday December 12 in Shanghai.Fastmarkets assessed the price of alumina metallurgical grade, ddp China at 2,330-2,450 yuan ($331-348) per tonne on December 12, down 1% from the previous week's 2,350-2,480 yuan per tonne.Key drivers: Cargoes continued to be imported to China in significant numbers after the import arbitrage window opened late in Se...Read More