Turkish steel producers have continued to book deep-sea scrap cargoes for November shipments, confirming another downturn in the prices, sources said on Wednesday September 25.A steel mill in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $228 per tonne, 15,000 tonnes of shredded at $233 per tonne and 2,000 tonnes of plate and structural scrap (P&S) at $238...Read More
The physical iron ore markets were largely inactive on Wednesday September 25 because of a key industry conference in China and the current restrictions on that country's steelmakers.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.34 per tonne, down by $0.49 per tonne62% Fe Pilbara Blend fines, cfr Qingdao: $90.73 per tonne, down by $0.49 per tonne.62% Fe low-alumina fines, cfr Qingdao:...Read More
The seaborne coking coal market gained some strength on Wednesday September 25, with bids for cargoes to be loaded in the last two months of this year emerging above prevailing transaction prices.Premium hard coking coal, fob DBCT: $133.60 per tonne, up $5.41 per tonnePremium hard coking coal, cfr Jingtang: $153.98 per tonne, down $1 per tonneHard coking coal, fob DBCT: $122.50 per tonne, unchange...Read More
China Molybdenum Co (CMOC), the winner of the recent auction of ammonium paratungstate (APT) stocks formerly held by the defunct Fanya Metal Exchange, is not likely to offload the materials within the next year, market participants told Fastmarkets. CMOC won 28,336 tonnes of Fanya's APT stocks for 3.27 billion yuan ($463 million) in an auction on Tuesday September 17. Rather than casting a sh...Read More
The Shanghai copper cathode premium moved higher in the week to Tuesday September 24, with continued opportunities in the London-Shanghai arbitrage prompting increased market interest, while flat demand caps premiums in Europe and the United States. Improved arbitrage prompts Shanghai premium interest European demand woes continue US traders wary of import arbitrage lossImproved arbitrage drives u...Read More
Eastern China's hot-rolled coil prices retreated on Wednesday September 25 with traders seeking more sales before the country's October 1-7 Golden Week.DomesticEastern China (Shanghai): 3,640-3,650 yuan ($512-513) per tonne, down 20 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, unchangedHRC futures traded below Tuesday's settlement price of 3,522 yuan per tonne for most of the day...Read More
Eastern China's rebar prices retreated on Wednesday September 25, which went on to stimulate trading activity. Domestic Eastern China (Shanghai): 3,680-3,700 yuan ($517-520) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,590-3,630 yuan per tonne, unchangedSellers in eastern China lowered their prices after two days of increases, which led some end users in the region to raise thei...Read More
The following Fastmarkets minor metals prices changed on Wednesday September 25:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,175 per tonne from $5,850-6,150Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,900-6,100 per tonne from $5,800-6,100Antimony MMTA standard grade II, ddp China, yuan/tonne: 39,000-39,500...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 25.Key driversThe ferro-titanium market dropped in price in the past week, losing $10 on the top end of the range amid slow trading. Consumers have been slow to return to the market since the seasonal summer lull, both for prompt and quarterly deliveries of ferro-titanium. Around 70 tonnes of ferro-titanium was reported so...Read More
While the ferro-alloys industry prepares to gather in Chicago for the annual North American Ferro-alloys conference on September 25-27, Fastmarkets outlines some of the key topics likely to dominate discussions this year. Where is the floor for ferro-vanadium prices? Ferro-vanadium prices in Chinese and European markets both hit all-time highs last year, partly because of an anticipated increase i...Read More
The London Metal Exchange will extend the waiver of listing fees for new cobalt brands until December 20, 2019, it said on September 24. The exchange launched the initiative on March 26 this year, initially for six months, in an effort to encourage liquidity on its physically delivered cobalt contract. Since then, Norilsk grade-I cut cobalt cathodes and Huayou cut cobalt cathodes have been listed...Read More
Ahead of the annual North American Ferro-alloys conference in Chicago on September 25-27, Fastmarkets looks at some of the key factors likely to dominate vanadium contract negotiations over the coming weeks. See also: NA FERRO-ALLOYS CONF: Likely key talking points at industry gathering in ChicagoRead More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday September 25:Aluminium scrapCommercial cast, delivered consumer UK, ?/tonne: ?660-700 per tonne...Read More
U.S. equity index futures were higher. S&P 500 futures advanced 7 points in pre-opening trade.Index futures were virtually unchanged following final estimate of economic news at 8:30 AM EDT. Consensus for U.S. second quarter real GDP was unchanged from the previous estimate at 2.00%. Actual was unchanged at 2.00%. Consensus for Weekly Initial Jobless Claims was an increase to 212,000 from 208,...Read More
* GRAPHIC-2019 asset returns: (Recasts, updates with closing prices) By Eric Onstad LONDON, Sept 25 (Reuters) - Copper prices erased losses onWednesday after U.S. President Donald Trump held out theprospect of end to a trade war with top metals consumer China. Trump told reporters in New York that a deal to end a nearly15-month trade war with China could happen "sooner than youthink". Wi...Read More
A summary of base metals premiums from across the globe for the week to Tuesday September 24.Please click...Read More
Fastmarkets proposes to discontinue its assessment of the copper rod annual premium, cif Nhava Sheva, due to a lack of liquidity and excessively long premium negotiation periods.Annual premium negotiations between Indian buyers and international sellers can run for as long as seven months, making it very difficult for price reporters to capture deals and concentrate trade liquidity.Fastmarkets gen...Read More
The three-month zinc price on the London Metal Exchange was lower at the close of trading on Tuesday September 24, dipping below the $2,300-per-tonne support level despite falling exchange stocks, while aluminium futures closed at their lowest level since September 3. Zinc futures closed at $2,282 per tonne this afternoon, also settling at their lowest level since September 3 against a broad weake...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday September 24 that are worth another look.The long-lasting downtrend in the international scrap market, which has pushed prices to three-year lows this month, has led to the point where steelmakers which use electric-arc furnaces (EAFs) have a significant advantage over those equipped with blast furnaces (BFs), which use iron ore...Read More
Five private copper smelters in China have halted production because processing at market terms has become unfeasible due to a combination of weakening demand for end products, a tight copper concentrates market and the higher costs of complying with pollution standards.The smelters involved are Top-Eastern Copper in Liaoning, Jinshui Copper and Kaitong Group in Yunnan, Laizhou Fangtai in Shandong...Read More