Pig iron export prices from Brazil have moved higher during the week ended Friday November 22, on resumed sales to China at higher prices.Fastmarkets' weekly price assessment for pig iron export, fob port of Vitoria/Rio, Brazil stood at $295-300 per tonne on November 22, up from $292-295 per tonne a week earlier.Two sales were heard to China, with a combined volume...Read More
The inter-merchant spot price for light iron scrap in the UK was stable in the week ended Friday November 22, with steady demand into domestic major shredders and solid business levels into Turkey from Europe cementing British prices, trade sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?7...Read More
The price of ferrous scrap imported into India moved down this week after sentiment turned negative and market participants stepped back from trading, sources told Fastmarkets on Friday November 22.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $281.98 per tonne on Friday, down from $289.63 per tonne a week earlier, bringing a consecutive six-week upward streak to a...Read More
No new deals were reported in the US pig iron market during the week ended Friday November 22 because buyers and suppliers failed to agree deal prices.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $325-327 per tonne on Friday, narrowing upward from $323-327 per tonne a week before."There is...Read More
Turkish steel producers continued to book deep-sea scrap for December deliveries at a slow pace and steady prices, sources said on Friday November 22.A steel mill in the Marmara region booked a Baltic Sea cargo at $261 per tonne cfr for HMS 1&2 (80:20). The cargo composition was not clear at the time of publication.As a result of this trade, the daily scrap indices remained almost flat on November...Read More
The Fastmarkets index for iron ore 65% Fe Brazil-origin, cfr Qingdao, rose on Friday November 22, breaching the $100-per-tonne mark for the first time since October 8.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.08 per tonne, up $1.41 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $88.11 per tonne, up $1.41 per tonne.62% Fe low-alumina fines, cfr Qingdao: $87.47 per tonne, up $1....Read More
Prices for seaborne premium hard coking coal rose on Friday November 22, though participants said that there was little room for the market to strengthen significantly in the coming weeks.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.76 per tonne, up $1.25 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, up $1.32 per tonneHard coking coal, fob DBCT: $120.70 per ton...Read More
Eastern China's rebar prices dropped slightly on Friday November 22 - the first downward movement in 10 days - amid concerns over high production rates, though futures picked up. Eastern China (Shanghai): 4,070-4,100 yuan ($579-583) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,780-3,820 yuan per tonne, up 20-30 yuan per tonneTraders in eastern China cut prices slightly to genera...Read More
China's hot-rolled coil exporters maintained high offers on Friday November 22 amid price gains in the country's eastern region.DomesticEastern China (Shanghai): 3,670-3,700 yuan ($522-526) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,650-3,660 yuan per tonne, narrowing downward by 10 yuan per tonneSellers in Shanghai started selling at around 3,670 yuan per tonne in the earlier...Read More
The European Commission will consider early next year whether to add cadmium to the European Union's critical raw materials list, with the aim of encouraging production and recycling of this metal widely used in batteries, and hence potentially helping the EU economy move away from fossil fuels. Such a listing is designed to incentivize European production of a critical raw material that is in sho...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Diplomats at the World Trade Organisation's goods council have attacked the European Union over its plans to integrate titanium dioxide and cobalt into its health and safety laws, claiming this could impose unnecessary restrictions on exporting certain stainless steels to the EU.The European Parliament is considering regulating these steel inputs under its classification, labeling and packaging of...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 22. China The domestic Chinese ferro-silicon price remained unchanged after producers refused to lower offer prices despite slow trades. Export price was also steady on firm offer prices from major suppliers, but persistent weak demand has resulted in some lower offers among tra...Read More
Steady demand in Taiwan continues to prop up ferrous scrap prices, which maintained a slight upward trend this week. Demand in the major import market of Vietnam remained weak due to the narrow price spread between ferrous scrap and downstream billet, with few buyers willing to pay higher for deep-sea cargoes. There was, however, interest for lower-priced Japanese scrap. VietnamFastmarkets' p...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices) By Eric Onstad LONDON, Nov 22 (Reuters) - Copper rebounded on Friday aftercomments by the U.S. and Chinese presidents raised hopes thatthe two countries will forge a trade deal. Donald Trump said on Friday that a trade deal with China is"potentially very close" while Xi Jinping said that China wantsto work out an initial trade p...Read More
The three-month tin price on the London Metal Exchange rose by 2.4% against high turnover at the close of trading on Thursday November 21, while lead futures continued their decline over the afternoon. Tin's outright price on the LME closed at $16,400 per tonne up from Wednesday's closing price of $16,020 per tonne, while daily trading volumes were at their highest since November 13 at 482 lots ex...Read More
Low profit margins in the refined copper business and restrictions in global scrap flows have attracted large segments of the market in Europe and Asia to diversify into cheaper equivalent grade (EQ) copper cathodes despite greater risks related to financing difficulties and unreliability of supply. EQ grade copper cathodes refer to those that conform to grade A copper cathode specifications as de...Read More
The benchmark fob Australia alumina price stabilized around $278 per tonne on Thursday November 21 during a low-liquidity week. Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $278.65 per tonne on Thursday, little changed from $278.86 per tonne on the previous day - and down from $281.10 a week earlier. Key drivers Alumina prices remained rangebound this week, wi...Read More
The benchmark fob Australia alumina price stabilized around $278 per tonne on Thursday November 21 during a low-liquidity week. Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $278.65 per tonne on Thursday, little changed from $278.86 per tonne on the previous day - and down from $281.10 a week earlier. Key drivers Alumina prices remained rangebound this week, wi...Read More
Press Metal, the largest aluminium producer in Southeast Asia, has finalized a shareholder agreement with Bintan Alumina Indonesia (BAI) for 25% of the company, which will allow the former to "secure a long-term supply of alumina." Press Metal has invested 3.07 billion yuan ($437.03 million) in BAI, with the funding going toward a second phase of the Indonesia-based alumina project to double capac...Read More