Here are five Fastmarkets MB stories you might have missed on Monday October 7 that are worth another look.Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to sluggish trading activity amid a week-long holiday in China to mark the country's 70th anniversary.Chinese cobalt producer GEM Co Ltd has signed a cobalt supply contract with Switzerland-based m...Read More
The three-month aluminium price on the London Metal Exchange was higher at the close of trading on Monday October 7, topping a broadly lackluster base metals complex amid low turnover, while zinc's benchmark cash/three-month spread narrowed over the afternoon.Aluminium futures closed at $1,746 per tonne in the afternoon, climbing from an intraday low of $1,714 per tonne, while some 10,100 lots wer...Read More
Seaborne iron ore prices were steady on Monday October 7, though Australian miner BHP reported damage to a car dumper at its operations in Port Hedland, Australia.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.38 per tonne, unchanged. 62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged. 62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged. ...Read More
A major Japanese steelmaker has agreed with Australian suppliers on contract prices for shipments of pulverized coal injections (PCI) materials and semi-soft coking coal in the fourth quarter of 2019, sources told Fastmarkets on Monday October 7.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob...Read More
Turkish domestic scrap prices were largely stable over the past week, in line with steady imported scrap values, sources said on Monday October 7.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,300-1,430 ($229-252) per tonne on Monday, unchanged week-on-week. Almost all steel mills have kept their buy prices flat for the...Read More
Antimony found support again in Europe over the week ended Friday October 4, with some traders reportedly achieving higher prices in Rotterdam.Fastmarkets assessed the price of antimony, MMTA standard grade II, in-warehouse Rotterdam, at $6,000-6,300 per tonne on Friday, up by 1.8% per tonne from the previous assessment. Despite the absence of Chinese market participants during the week-long...Read More
Pierre Neatby has joined Ambatovy mine as its vice president of marketing based in Madagascar. Neatby joined the company at the end of last month and is part of Ambatovy's management team that will steer strategic marketing of the mine's nickel and cobalt production, including working with its...Read More
The three-month nickel price on the London Metal Exchange moved higher during morning trading on Monday October 7, with prices buoyed by a continued draw on the exchange's falling inventory. Nickel's outright price was recently seen trading at $17,775 per tonne, edging closer to the $18,000-per-tonne resistance level, a price not seen since September 13. Volumes traded were particularly thin over...Read More
China is still on holiday this morning, Monday October 7, and quiet trading has resulted in fairly mixed prices across the metals and broader markets. We expect activity to pick up when China's markets reopen on Tuesday, but with United States-China trade talks scheduled for Thursday and Friday, trading is likely to be nervous. Markets quiet with China on holiday for Golden Week until Tuesday...Read More
Here are five Fastmarkets MB stories you might have missed on Monday October 7 that are worth another look.Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to sluggish trading activity amid a week-long holiday in China to mark the country's 70th anniversary.Chinese cobalt producer GEM Co Ltd has signed a cobalt supply contract with Switzerland-based m...Read More
Export prices for hot-rolled coil, cold-rolled coil and plate from the Commonwealth of Independent States continued to decline amid weak demand in the week to Monday October 7. Demand has been weak for several weeks, following falls in domestic steel prices in CIS export markets, causing CIS flat prices to fall in consecutive pricing sessions in the region. Buyers have been reluctant to place orde...Read More
Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to sluggish trading activity amid a week-long holiday in China to mark the country's 70th anniversary.Market participants are waiting to see how Chinese steel prices will change when its markets re-open on October 8, a trader in Taiwan said. Prices in Asia's downstream hot-rolled coil market fell amid C...Read More
An ample supply of Indian and Russian hot-rolled coil in Asia maintained pressure on prices in the region over the past week.Fastmarkets' weekly assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $440-445 per tonne cfr for the week ending Monday October 7, down $5 per tonne from a week earlie...Read More
Import prices for rebar into Singapore were unchanged over the past week due to limited spot activity during the National Day holiday in China.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-435 per tonne for the week to Monday October...Read More
United States-based financial services organization INTL FCStone has acquired the futures and options brokerage operations and the clearing business unit from UOB Bullion and Futures.This will give INTL FCStone access to trade a host of derivatives on the Singapore Exchange (SGX), the company said on Monday October 7.The acquisition from UOB Bullion and Futures, a subsidiary of Singapore-based Uni...Read More
Turkish steel mills were silent on the first working day of the week with no deep-sea purchases taking place and prices remaining stable, sources said on Monday October 7. Two cargoes were booked at the end of last week. One Turkish steel mill in the Marmara region booked a UK cargo at $223.50 per tonne cfr for HMS 1&2 (80:20) and another steel mill in the Izmir region booked a US cargo at $228.50...Read More
Workable prices for pig iron buyers in the United States have declined after first scrap deals were concluded at lower prices, but no reduced offers have been heard, market sources told Fastmarkets on Friday October 4. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $290-300 per tonne on October 4, down from $300-315 per tonne the previous week. "I would b...Read More
Seaborne iron ore prices were steady on Monday October 7, though Australian miner BHP reported damage to a car dumper at its operations in Port Hedland, Australia.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.38 per tonne, unchanged. 62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged. 62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged. ...Read More
A major Japanese steelmaker has agreed with Australian suppliers on contract prices for shipments of pulverized coal injections (PCI) materials and semi-soft coking coal in the fourth quarter of 2019, sources told Fastmarkets on Monday October 7.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob...Read More
A major South Korean steelmaker is likely to cut its ferrous scrap purchases in October as well as for the rest of the year."This is due to the high inventory levels it is holding, as well as due to it waiting for the delivery of contracted cargoes it had purchased. Steel production rates in South Korea are also likely to dip," a Japanese trader told Fastmarkets last Friday October 4.The cut is ex...Read More