Import prices for steel slab in Southeast Asia and East Asia continued to decline over the past week because of weakness in the downstream flat steel markets caused by sluggish demand and lower prices, market sources said.Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia, fell to $405-410 per tonne on Monday September 16, its lowest level in more than two...Read More
Chinese cold-rolled coil and hot-dipped galvanized coil export prices held steady over the past week amid stable domestic demand, although trading activity remained sluggish in the export markets.Cold rolled coilFastmarkets' weekly price assessment for steel cold-rolled coil export, fob China, was $505-510 per tonne on Tuesday September 17, unchanged from a week earlier.On Tuesday, Liaoning-based...Read More
Wire rod price export prices from the Commonwealth of Independent States continued to slide over the past week due to a lack of demand and growing competition with Turkish suppliers. The Turkish steelmakers reduced their export prices last week in attempt to attract customers and, in response, offers from the CIS region -particularly from Russia - dropped to $440-445 per tonne fob Black...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market on the second working day of the week amid limited demand for finished long steel, sources told Fastmarkets on Tuesday September 17.The latest transaction was a cargo from the United States at the end of last week, which was sold at $240 per tonne cfr for HMS 1&2 (80:20), $245 per tonne for shredded and $250 per to...Read More
Seaborne iron ore concentrate prices continued to see narrower discounts last week, while pellet market activity remained lackluster.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao, stood at $99.54 per tonne last Friday September 13, up by $4.48 per tonne week on week.And Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao,...Read More
China's Dalian Commodity Exchange (DCE) has formally launched the brand delivery mechanism for its iron ore futures to replace the current delivery threshold of specifications. The new rules - aimed to cater to market demand and better serve the industry - will take effect from the September 2020 iron ore futures contract, DCE said on its website late last week. For the new physical delivery rules...Read More
Physical iron ore prices weakened on Tuesday September 17 amid losses in the futures markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $97.17 per tonne, down by $1.28 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $97.56 per tonne, down by $1.28 per tonne.62% Fe low-alumina fines, cfr Qingdao: $96.13 per tonne, down by $0.81 per tonne.58% Fe fines high-premium, cfr Qingdao: $84.56...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. Latest transactions: iron oreIron oreBHP, Beijing Iron Ore Trading Center (Corex), 80,000 tonnes of 57.1% Fe Yandi fines, traded at the October average of two 62% Fe indices, adjusted for Fe content, plus a discount of $3.30...Read More
Offers for premium mid-vol hard coking coal plunged in the seaborne market on Tuesday September 17 after several days of inactivity.Premium hard coking coal, fob DBCT: $144.08 per tonne, down $4.07 per tonnePremium hard coking coal, cfr Jingtang: $160.63 per tonne, down $7.13 per tonne Hard coking coal, fob DBCT: $131.75 per tonne, unchangedHard coking coal, cfr Jingtang: $150.26 per tonne, unchan...Read More
China's domestic rebar prices held steady on Tuesday September 17 amid falling futures and an inactive market. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($526-530) per tonne, unchangedNorthern China (Beijing): 3,640-3,670 yuan per tonne, unchangedSellers kept their prices flat to wait for more changes in the futures market, sources said.Market participants did not see a clear trend in th...Read More
Higher oil prices are not going to do the manufacturing sector any favors, other than in parts of the oil industry itself, and that seems to be being reflected in the markets where prices are under pressure again this morning, Tuesday September 17.For now, the rally on optimism that an interim United States-China trade deal may be forthcoming seems to have been overtaken by concerns over what dama...Read More
Base metals prices on the Shanghai Futures Exchange were down during the morning trading session on Tuesday September 17, with risk aversion still heightened following an attack on Saudi Arabian oil facilities over the weekend."It was a textbook risk-off response in global financial markets following the strike on Saudi Arabia's oil facilities over the weekend. Equities dipped, petro and safe-have...Read More
The export price for Chinese ferro-silicon, which earlier this month hit a 27-month low amid persistent weak demand and tough international competition, stabilized in the week to Friday September 13 but spot buying interest was negligible. Chinese market stabilizes losses but this was viewed as a pause amid consumer absence. European price range narrowed lower while suppliers await fourth-q...Read More
Low-grade manganese ore cif prices fell over the past week, with some buyers holding back from purchasing in the hope of lower prices. 37% cif China prices fall in response to low demand High-grade ore price stable Alloys in India fall again, sparking output cuts Weak market dampens European alloy prices Alloy prices stable in the United StatesThe low-grade seaborne manganese ore price in China co...Read More
The European ferro-vanadium market continued its downtrend last week amid thin spot buying and prevailing bearish sentiment. European ferro-vanadium price continues downtrend on sluggish trading Chinese ferro-vanadium price stable in quiet spot market Wide China-Europe price gap remainsChina's V2O5 export price continues to sink, tracks the trend in the domestic marketThe ferro-vanadium export pr...Read More
The rollover of ferro-chrome tender prices from China's leading stainless steel mills dented sentiment in the chrome market this past week, putting downward pressure on ore prices. Ore prices drop below $150 per tonne in ChinaAlloy prices hold in ChinaAlloy prices edge up in Japan, South KoreaEuropean alloy prices stableUS alloy market staticChrome ore prices dropped in China on Friday September...Read More
The markets were in limbo this morning, Wednesday September 18, while they wait for developments on trade talks, the direction of oil prices and the outcome of this evening’s US Federal Open Market Committee (FOMC) meeting and rate decision.Once again the recent show of strength in most of the metals has run into resistance, suggesting confidence is not strong enough to chase prices higher an...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Investors are waiting for news from the FOMC meeting this afternoon at 2:00 PM EDT. Consensus is that the Federal Reserve will reduce the Fed Fund rate by 0.25%.Index futures were virtually unchanged following release of the August Housing Start report at 8:30 AM EDT. Consensus was an in...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Monday September 16, below nearby support levels, while a continued sell-off in nickel futures saw that commodity's outright price fall by 2.6%.Volumes traded in copper over the afternoon were moderate, with some 17,000 lots exchanged by the close, while the red metal's closing price of $5,870 per tonne...Read More
Nickel mining operations across four unspecified sites in the Philippines' Tawi-Tawi region will be halted indefinitely to facilitate the implementation of the country's Bangsamoro Responsible Mining law, Environment, Natural Resources and Energy Minister Abdulraof Abdul Macacua said on Monday September 16. The suspension will further reduce the country's declining nickel output, which fell by 16....Read More