India's federal government has mandated that state governments in the country extend the iron ore mining leases of state-owned companies in blocks of up to 20 years if such applications are made at least 12 months prior to their expiry.The move is an effort to ensure a stale supply of domestic iron ore next year, with the leases of 31 mines - affecting some 60-80 million tonnes - set to expire on...Read More
Seaborne iron ore prices remained flat on Wednesday October 2, with the market largely muted amid the week-long public holiday in China from October 1-7.Fastmarkets iron ore indices62% 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.58% Fe fines high-...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back.Fastmarkets pricesClick here for Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam, $ per lbClick here for Fastmarkets' price assessment for cobalt, alloy grade, in-whs Rotterdam, $...Read More
Fastmarkets looks at the key takeaways from the annual Fastmarkets North American Ferro-alloys conference in Chicago on September 25-27. Slowing economic, steel production growth will weigh on ferro-alloys prices Ferro-alloys prices will continue to fall going into 2020 because of slowing economic growth and falling steel production, Fastmarkets analyst Amy Bennett told delegates in Chicago last w...Read More
A judge in the United Kingdom has ruled that broker Marex Spectron must pay up to $32 million in losses to French bank Natixis stemming from a case of forged warehouse receipts more than two years ago.The court found both Marex Spectron and Glencore-owned Access World negligent.Natixis sued Marex Spectron and Access World in 2017 over fraudulent receipts. Marex rejected the lawsuit, and a trial wa...Read More
The London Metal Exchange three-month nickel price rose by 1.4% to close at $17,475 per tonne on Wednesday October 2 from $17,220 per tonne the previous day. The three-month nickel price has been buoyed by a 5,802 tonne outflow from LME approved warehouses recorded on the same day alongside a 2,964 tonne fresh cancelation. Sentiment was buoyant despite a paltry 3,774 lots changing hands by close o...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 2.Please click...Read More
A bleak outlook for downstream demand, impending backwardations in the forward curve on the London Metal Exchange and general economic uncertainty helped drive bearish sentiment and stifle spot business at Fastmarkets' recent aluminium conference in Athens.Although the Fastmarkets International Aluminium conference is typically a hub for aluminium participants to negotiate and sign contracts for t...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 2.Key drivers A drop in the ferro-titanium price to $4.40-4.80 per kg delivered this week from $4.60-4.90 per kg last week reflects quiet consumer buying interest and only low levels of trading at lower prices. Consumers in the steel sectors have been slow to return to the market since the seasonal summer lull, both for prom...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 2.Key drivers A drop in the ferro-titanium price to $4.40-4.80 per kg delivered this week from $4.60-4.90 per kg last week reflects quiet consumer buying interest and only low levels of trading at lower prices. Consumers in the steel sectors have been slow to return to the market since the seasonal summer lull, both for prom...Read More
Turkish steel producers have booked more deep-sea scrap cargoes for November shipment, although prices remained fairly stable, sources said on Wednesday October 2.A long steel mill in the Marmara region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $226 per tonne and 7,000 tonnes of bonus at $231 per tonne cfr.The price was similar to that of a US cargo traded on October 1...Read More
Weak manufacturing purchasing managers' index (PMI) data out across major economies on Tuesday October 2 dampened the tone across most markets, with money rotating into havens. That said, the situation in the United States is still looking mixed - the IHS Markit manufacturing PMI edged up to 51.1, from 51, so still shows expansion, while the ISM reading fell to 47.8, from 49.1. In addition, U...Read More
Demand for flat steel products in Turkey was weak in September 2019 because of global price falls, market participants have told Fastmarkets.And local producers have now filled their order books until late November, they said on Wednesday October 2.Turkish steel prices increased on May 17 after the import duty into the United States, which had been applied at a rate of 50% in September 2018, was c...Read More
The price of steel rebar in the Southern European domestic market was stable this week but further decreases were likely because of continuing losses in the ferrous scrap market, sources told Fastmarkets on Wednesday October 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?455-465 ($496-507) per tonne on Wednesday, unchanged week...Read More
The price of steel rebar in the Northern European domestic market has moved down this week becai=used of the continuing losses in the ferrous scrap market, sources told Fastmarkets on Wednesday October 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?460-475 ($502-518) per tonne on Wednesday, down by ?,?10-15 per tonne from the w...Read More
Prices for domestic wire rod across Europe remained unchanged on Wednesday October 2, with many market participants focusing on the more active rebar sector, sources told Fastmarkets this week. "Demand for wire rod is not so good, there's not a lot moving. It makes sense to leave it alone [and] wait for a potential recovery," said one Southern European producer, adding that his company had&nb...Read More
Turkish steel producers have booked more deep-sea scrap cargoes for November shipment, although prices remained fairly stable, sources said on Wednesday October 2.A long steel mill in the Marmara region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $226 per tonne and 7,000 tonnes of bonus at $231 per tonne cfr.The price was similar to that of a US cargo traded on October 1...Read More
Seaborne iron ore prices remained flat on Wednesday October 2, with the market largely muted amid the week-long public holiday in China from October 1-7.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $98.38 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.58% Fe fines...Read More
Iranian export steel billet prices slipped in the week to Wednesday October 2 after several sales were agreed at prices lower than those in earlier deals.Producers tried to resist the downtrend, referring to large-volume billet sales to China in previous weeks and to the current reduced availability of material."Iranian mills were not willing to accept even $350 per tonne fob several days ago, but...Read More