The strength of December's ferrous scrap trade in the United States is in debate, with mills seeing potential for only a limited upside while sellers believe a repeat of November's increase may be necessary to reinvigorate scrap flows.One mill buyer said that he expects the market to increase by a modest $10 per gross ton in December because the last month of the year is not known for strong deman...Read More
Turkish steel producers have booked more deep-sea cargoes for December delivery and prices have remained firm, sources told Fastmarkets on Monday November 11.Five deep-sea cargoes, totaling around 160,000 tonnes, were heard at the start of the week.A steel mill in northern Turkey booked a European cargo comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $...Read More
Turkish domestic scrap prices have continued to climb over the past week under the influence of rising imported scrap values, sources said on Monday November 11.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,455-1,560 ($252-270) per tonne on Monday, up from the TRY1,400-1,555 per tonne of last week.The steel producers and a major scrap...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials....Read More
Seaborne coking coal prices displayed no clear trend on Monday November 11, though some market participants in China have reported an emergence of offers for November-loading cargoes despite it being close to the middle of the month.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.77 per tonne, up $1.53 per tonnePremium hard coking coal, cfr Jingtang: $145.02 per tonne, down $1.10 per t...Read More
Seaborne iron ore concentrate and pellet prices outperformed those for fines last week amid a weakening market.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao was at $95 per tonne last Friday November 8, down $1.09 from a week earlier.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $92.30 per tonne last week, down $2.45 pe...Read More
Fastmarkets is proposing to change the publication day for its weekly Shanxi-origin, Tangshan-delivered domestic China coking coal price from every Friday to every Monday.The change, subject to market feedback, will be effective from Monday December 2.The specifications of the price remain unchanged:Price: Hard coking coal domestic China spot market, Shanxi-origin, delivered Tangshan, yuan/tonne Q...Read More
China's hot-rolled coil prices dipped further on Monday November 11 amid a weakening of demand, particularly in the eastern region.DomesticEastern China (Shanghai): 3,510-3,520 yuan ($502-503) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,510 yuan per tonne, down 10 yuan per tonneA Shanghai-based trader said demand in the city had softened, which sapped trading volumes as well a...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 8. China Key drivers The antimony, MMTA standard grade II, ddp China price fell for the first time since the end of August, which was just before the price started trending upward in response to the successful auction of stocks held by the defunct Fanya Metal Exchange in early September. Some supp...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 8. China Key drivers Chinese silicon export market continued to gain upward momentum for the third consecutive week in response to supply tightness in the domestic market after southern Chinese refiners halted their operations due to a lack of cheap hydroelectric power during dry season which typically lasts...Read More
Still hostage to trade talk news News flow regarding progress, or lack thereof, in US-China trade negotiations continues to determine the mood in the base metals and remains the main source of week-to-week volatility. Aluminium: Consolidating after short-covering Following a strong week of price gains last week, aluminium has moved into consolidation mode after finding technical resistance and aft...Read More
LME aluminium price up 3.9% week-on-week The LME aluminium price spent most of last week trading above the $1,800 per tonne mark with the weekly average of $1,813 per tonne up 3.9% from the previous week's level. The risk-on mood stemmed from the expectation of an imminent “phase one” US-China trade deal being struck. But on Monday this week, aluminium traded back below $1,800 per tonne,...Read More
Aluminium The LME three-month aluminium price continues to...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus dow...Read More
We are bullish over the next...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as i...Read More
Prices find support after an...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as i...Read More
More lower highs and lows Approaching the mid-point of the fourth quarter, the LME nickel cash price is averaging $16,589 per tonne, with the average declining daily while trading remains in the down-sloping channel off September’s high. Indeed, the sequence of lower highs and lows defining that channel has been extended this week by the sell-off into the $15,000s again. While that lower low...Read More
Recovery in tin prices Tin is one of the best performers among LME base metals so far in Q4, up a little bit more than 5%. The rise in open interest in LME tin in the quarter to date suggests that the price strength has been primarily driven by fresh buying, a sign of increased optimism. We attribute the recovery in tin prices to the market’s realization that refined output trends would be mu...Read More
Guidance downgrades noted among recent producer...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More
Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More