London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 27. Below is a list of the events and functions scheduled for the week. Please be aware that many events are private entry and admission is strictly by invitation only. Sunday 27 October 6:45pm - Marex Spectron Dinner, The Savoy Hotel, Strand, WC2R 0EZ Monday 28 Oct...Read More
Here are five Fastmarkets MB stories you might have missed on Monday September 16 that are worth another look.Brazilian multi-metal and mining company Vale has announced plans to build a further two nickel smelters in Indonesia in joint ventures with China and Japan, the deputy chief executive officer of Vale Indonesia said in a Saturday September 14 news interview.Newmont Goldcorp has suspen...Read More
The active contract price for aluminum on the Shanghai Futures Exchange may rise as high as 15,000 yuan ($2,128) per tonne by the end of October 2019 on the back of tightening supply, market participants have told Fastmarkets.The most-traded November contract price for the metal started to rally at the start of September on a continuing decline in the total volumes of aluminium in stock, and reach...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
Key data from the pricing sessions in New York, London and Shanghai in the week ending Friday September 13.United StatesKey drivers Spot silicon fell below $1 per lb on the low end for the first time in three years in the United States, on excess supply and the undercutting of domestic material by overseas suppliers.Consumers are themselves said...Read More
London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 27. Below is a list of the events and functions scheduled for the week. Please be aware that many events are private entry and admission is strictly by invitation only. Sunday 27 October 6:45pm - Marex Spectron Dinner, The Savoy Hotel, Strand, WC2R 0EZ Monday 28 Oct...Read More
The Turkish steel producers went quiet in the deep-sea scrap markets at the beginning of the current week, digesting the latest cargo transacted from the United States, sources said on Monday September 16.A steel mill in the Izmir region booked a US cargo at the end of last week, comprising 15,000 tonnes of HMS 1&2 (80:20) at $240 per tonne, 15,000 tonnes of shredded at $245 per tonne and 2,000 to...Read More
Turkish domestic scrap prices have gone down over the past seven days on weakening imported scrap values, sources said on Monday September 16.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,400-1,575 ($245-276) per tonne on Monday, down from last week's TRY1,445-1,650 per tonne.Steel mills and a major scrapyard have decreased their buy...Read More
Over the past week the metals have looked stronger and some dovish comments by United States President Donald Trump over US-China trade relations seem to have provided a slight confidence boost, but headwinds are being felt this morning, Monday September 16.An 11% rise in crude oil prices this morning following an attack on a Saudi Arabian oil refinery, combined with weak Chinese industrial produc...Read More
London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 27. Below is a list of the events and functions scheduled for the week. Please be aware that many events are private entry and admission is strictly by invitation only. Sunday 27 October 6:45pm - Marex Spectron Dinner, The Savoy Hotel, Strand, WC2R 0EZ Monday 28 Oct...Read More
Turkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) continued to fall last week on low demand and soft scrap prices, sources told Fastmarkets on Monday September 16.HRC exportsFastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was $455-465 per tonne on September 13, down by $5 per tonne week on week.Some buyers in the EU have been cautious about making...Read More
Asia's hot-rolled coil markets are now seeking bright spots after price falls in the region eased.Prices have rebounded in the past week in the key regional market China of while the monsoon season in India is approaching its end."It is possible that the price drops have stopped and the bottom has been reached," a buyer source in Vietnam told Fastmarkets on Friday September 13.Supply of Indian HRC...Read More
Argentina's domestic steel product prices were steady again in September, and sellers have been reducing payment periods to compensate for political instability and currency volatility in the country.Fastmarkets' monthly assessment for steel hot-rolled coil domestic, exw Argentina, was at $720-725 per tonne on Friday September 13, unchanged since May.The monthly assessment for steel cold-roll...Read More
Special bar quality (SBQ) prices in the United States declined after ferrous scrap costs dropped in September while demand remained muted. Plentiful inventory and weak end-use markets including the domestic oil-and-gas industry and automakers ensured that SBQ producers could not sustain August prices, according to market participants. "The market is languishing," a mill source said. Fast...Read More
Bargain-hunting buyers in Singapore buyers are indeed turning to Turkish rebar after prices for ferrous scrap in Turkey fell to their lowest in close to three years over the past week.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $440-450 per tonne for the week...Read More
The Turkish steel producers went quiet in the deep-sea scrap markets at the beginning of the current week, digesting the latest cargo transacted from the United States, sources said on Monday September 16.A steel mill in the Izmir region booked a US cargo at the end of last week, comprising 15,000 tonnes of HMS 1&2 (80:20) at $240 per tonne, 15,000 tonnes of shredded at $245 per tonne and 2,000 to...Read More
Turkish domestic scrap prices have gone down over the past seven days on weakening imported scrap values, sources said on Monday September 16.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,400-1,575 ($245-276) per tonne on Monday, down from last week's TRY1,445-1,650 per tonne.Steel mills and a major scrapyard have decreased their buy...Read More
Seaborne iron ore prices were rangebound on Monday September 16 amid inactive trading after China returned from a three-day weekend to celebrate the Mid-Autumn Festival. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $98.45 per tonne, down $0.85 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $98.84 per tonne, down $0.85 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $96.94 per ton...Read More
China's domestic rebar prices increased on Monday September 16 following a strong showing by steel futures following an attack on Saudi Arabian oil facilities over the weekend. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($525-530) per tonne, up 70 yuan per tonneNorthern China (Beijing): 3,640-3,670 yuan per tonne, up 20 yuan per tonneThe most-traded November crude oil contract on the Shan...Read More
The pellet segment of the seaborne iron ore market is starting to show signs of moving from annual contracts to shorter-term ones.The recent drop in iron ore prices amid improvements in Brazilian and Australian supply and a weak global steel market have led to buyers renegotiating the premium they had agreed with Brazil's Vale under annual contracts for pellet shipments to be made in the last thre...Read More