The pig iron import market in the United States strengthened in the week ended Friday November 8 on higher scrap prices, sources told Fastmarkets. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $320-325 per tonne, up from $310-312 per tonne a week earlier."The scrap price has rebounded by $20 [per gross ton]; that will support pig iron prices," one buyer in the US...Read More
Global scrap prices trended upward during the working week ended Friday November 8, boosted by higher Turkish imported scrap prices. Turkish import prices up, bookings resume US export prices improve on fresh deals off both coasts Vietnam import prices jump on buyer interest Taiwan import prices inch upward Higher offers raise Indian import prices.TurkeyTurkish imported scrap prices trended upward...Read More
The price of ferrous scrap imported into India has continued to climb this week, with further rises expected in the coming weeks, sources told Fastmarkets on Friday November 8.Fastmarkets' calculation for the steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $284.15 per tonne on Friday, up from $276.57 per tonne one week earlier.A deal for shredded material into India was heard at...Read More
Export pig iron prices from the Commonwealth of Independent States went up on improved demand, supported by higher scrap prices, sources told Fastmarkets this week.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $288-295 per tonne on November 7, up from $280-287 per tonne a week ago."The market is firm because demand is hig...Read More
An injunction from a Brazilian court has halted Vale's acquisition process of Ferrous Resources for 30 days, until the miner can provide proof that it will implement international environmental compliance standards.Vale is yet to be notified about the judicial decision issued by the court in the Brazilian Federal District, where Brazil's capital Bras?-lia is located, and would engage in appropriat...Read More
Turkish steel producers remained out of the the deep-sea scrap markets on Friday November 8 after buying scrap cargoes earlier in the week, sources told Fastmarkets.While no new cargoes were booked on Friday, several were purchased earlier this week at steady prices and of the same composition.On Monday, there were three cargoes, two of US origin. The first, booked by a steel mill in the Izmir reg...Read More
Seaborne coking coal prices regained some losses on Friday November 8, narrowing the weekly pace of decline slightly.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.24 per tonne, up $0.67 per tonnePremium hard coking coal, cfr Jingtang: $146.12 per tonne, unchangedHard coking coal, fob DBCT: $121.70 per tonne, unchangedHard coking coal, cfr Jingtang: $134 per tonne, unchangedLow-vol PC...Read More
The London Metal Exchange three-month lead price slipped below an important resistance level in unexceptional trading conditions in the morning of Friday November 8. The three-month lead price recently traded at $2,099 per tonne, with some 1,000 lots exchanged as of 9:20am London time. The price fell from an intra-morning high of $2,114.50 per tonne and traded as lows as $2,084 per tonne - its che...Read More
China's domestic rebar prices retreated on Friday November 8 amid concerns over supply being channeled southward from the northern region amid falling temperatures.Eastern China (Shanghai): 3,700-3,740 yuan ($530-536) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,640-3,660 yuan per tonne, down 10 yuan per tonnesRebar futures were subdued during the day with traders anticipating w...Read More
China's hot-rolled coil prices slid on Friday November 8 after trading activity thinned further.DomesticEastern China (Shanghai): 3,520-3,540 yuan ($500-503) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,520 yuan per tonne, down 20 yuan per tonneA Shanghai-based trader said trading activity continued to thin during the day amid declining futures, which led to spot prices falling...Read More
The flip-flip nature of headlines surrounding trade talks between China and the United States is calling the tune in the markets; there was initial weakness on news that a signing of a partial trade deal would be delayed, but markets then turned higher after it was announced that progress had been made with both sides agreeing to remove some tariffs.This morning, Friday November 8, markets are giv...Read More
An overview of the minor metals markets and their latest price moves.Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
Stainless steel prices in Europe stabilized on Friday November 8 after falling ?,?100 per tonne a week ago, but market participants told Fastmarkets that poor demand and plentiful supplies were still a major issue.Fastmarkets' price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,200-2,250 ($2,433-2,489) per tonne on November...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 8. China The high-grade manganese ore index recovered some of the recent losses after a number of large sales were made above the previous week's index. Seaborne low-grade manganese ore prices slid amid persistently weak market sentiment and lower producer offers. An incre...Read More
China's import quota system, which has restricted the inflow of scrap metal this year, will remain in place for another year, with a significant drop expected in the total quantity of quotas granted, the China Nonferrous Metals Industry Association (CMRA) said on November 7. The CMRA statement, seen by Fastmarkets, was given to delegates attending a conference from November 7-9 in Ningbo, a major...Read More
A recent price surge in global ferrous scrap markets has led to more buying interest in Vietnam, with buyers booking multiple cargoes this week.While demand in Taiwan has slowed, buyers there are likely to return to the spot market next week in response to rising prices in the United States and Turkey.VietnamFastmarkets' price assessment for bulk shipments of steel scrap HMS1&2 (80:20), cfr Vietna...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday November 7, breaching the $6,000 per tonne resistance level just after the 5pm close for the first time since July, while the zinc futures price climbed by over 1%. Copper's outright price on the LME closed at $5,975 per tonne on Thursday afternoon, spiking soon after the close to reach an intr...Read More
Nickel supply prompted the most heated discussions among market participants at the annual Antaike International Nickel & Cobalt Conference in Yichang on November 5-6, especially those involved in the electric vehicle (EV) battery raw materials supply chain, because of volatilities in the past two months. Meanwhile, the looming closure of Glencore's Mutanda copper-cobalt mine in the Democrati...Read More