Prices for shredded steel scrap imported into Pakistan fell in the week to Friday October 1, while Indian scrap prices stabilized after a mid-week change in sentiment for both markets, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $508.69 per tonne on Friday, down from $520.32 per tonne one week previous.Prices...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday October 1.ChinaHebei Iron & Steel Group (HBIS) hiked its October tender price for silico-manganese to 12,800 yuan ($1,979) per tonne, up by 4,150 yuan per tonne (48%) from that for September-delivery.The sharp increase was attributed to lingering production restrictions among smelters caused by the...Read More
Fastmarkets rounds up the key discussion points on lithium battery chemistries, sustainability and ESG from its Lithium 2021 conference that took place over September 20-22.Lithium price spikes key to chemistriesThe price of lithium will be key in determining battery chemistries, according to market participants. Sustained high prices would cause use to shrink, although few expect lithium to be re...Read More
Copper's three-month price was up by 1%, and most London Metal Exchange prices were slightly up the morning of Friday October 1 after a steep sell-off on Thursday afternoon with macroeconomic concerns mounting.Copper's three-month price returned to above the $9,000 per tonne level with a rise to $9,026.50 per tonne on Friday morning from a $8,936.50 per tonne price on Thursday at the close, a 2.4%...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard...Read More
The market for pig iron exports from Brazil was stable during the week to Friday October 1 because suppliers have full order books until late December-January.Fastmarkets' price assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $480 per tonne on Friday, stable week on week."We are sold out till January, so right now we are not...Read More
Brazilian slab export prices were stable in the week ended Friday October 1, but sources remained concerned about recent price cuts in other regions that could affect the market.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was unchanged at $780-800 per tonne on Friday.Producers tried to maintain offers at around $800 per tonne fob, but buyers were resistant.Inv...Read More
Prices for flat-rolled steel imported into South America were steady in the week to Friday October 1, with the bulk of November-shipment negotiations ending and with a week-long holiday in China drying up market liquidity.Most traders and mills were out of the market in the week, and deals were rarer. Chinese export allocations, which have already been low in recent months due to planned output cu...Read More
Spot interest in copper concentrate has been minimal in the week to Friday September 30, ahead of China's National Day holiday. Clean tonnages for smelter purchase were in the mid-$60s, below the Copper Smelters Purchase Team's fourth quarter pricing floor of $70 per tonne. A community blockade at MMG's Las Bambas complex in Peru, which started two weeks ago, could...Read More
The downtrend in Poland's domestic market for steel rebar continued in the week to October 1; prices dropped amid weak daily demand and a bearish outlook, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 3,700-3,800 zloty ($928-953) per tonne on Friday, down by 50-100 zloty per tonne from 3,800-3,850 zloty per tonne the previou...Read More
The export pig-iron market from the Commonwealth of Independent States was firm during the week to Thursday September 30 on reduced trading activity.Fastmarkets assessed the price of high-manganese pig iron, export, fob main port Black Sea, CIS at $490-515 per tonne on Thursday, widening downward from $490-518 per tonne the previous week.Several sources said that a sale of Ukraine-origin pig...Read More
Spot interest in copper concentrate has been minimal in the week to Friday September 30, ahead of China's National Day holiday. Clean tonnages for smelter purchase were in the mid-$60s, below the Copper Smelters Purchase Team's fourth quarter pricing floor of $70 per tonne. A community blockade at MMG's Las Bambas complex in Peru, which started two weeks ago, could...Read More
Spot prices for containerized ferrous scrap in Taiwan slipped in the week to Friday October 1 amid an easing in restocking demand by steel mills.Fastmarkets' daily price assessment for containerized steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan was $460 per tonne on Friday, unchanged from Thursday, but down by $3 per tonne from $463 per tonne on September 24.Buyers remai...Read More
Key data from Fastmarkets' pricing sessions in Europe, China and the United States on Friday October 1.China The ferro-silicon price in China went very bullish following the news that Qinghai, a major ferro-silicon production hub in the country, may start power cuts to meet the dual control targets of energy consumption. This has made spot availability even tighter, with many producers holding off...Read More
Seaborne cfr prices increased on a new deal on Thursday September 30; sources expect seaborne coking coal prices in the cfr market to edge up after China's National Day holiday, partly due to the ongoing power shortage.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $603.28 per tonne, up $10.39 per tonneHard coking coal, cfr Jingtang: $565.14 per tonne, up $30.28 per tonnePremium hard c...Read More
The European market for steel hot-rolled coil remained quiet on Thursday September 30, with buyers continuing to hold back from trading in expectation of more substantial price declines amid slower end-user demand, sources told Fastmarkets.Buyers in Europe have been waiting for the new quota period to begin on October 1before assessing the "real volumes that will enter the market," they said."The...Read More
Steel beam prices rose in the United States' domestic and import markets on Thursday September 30 in response to a third round of mill increases. Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US rose to $68 per hundredweight ($1,360 per short ton) on Thursday September 30, up 3.82% from $65.50 per cwt on August 26, and up 7.94% from $63 per cwt on July 29.Fastmarkets' as...Read More
Spot prices for hot-rolled coil in China moved within a tight range on Thursday September 30 on thin trading ahead of a week-long holiday to mark the country's National Day.DomesticEastern China (Shanghai): 5,740-5,770 yuan ($888-893) per tonne, narrowed by 10 yuan per tonne from 5,730-5,780 yuan per tonneNorthern China (Tangshan): weekly assessment: 5,720-5,740 yuan per tonne, narrowed upward by...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 30 that are worth another look.Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Australia-based mining company South32 have announced...Read More
Turkish steel mills returned to the deep-sea scrap market on Thursday September 30 for November shipment cargoes, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $435 per tonne, along with 8,000 tonnes of shredded and 12,000 tonnes of bonus at $450 per tonne cfr.A mill in the Izmir region also book...Read More