The Turkish steel mills continued their silence in the deep-sea scrap markets on expectations of lower prices, while suppliers were keeping their offers firm, sources said on Thursday September 12.There have been no bookings confirmed since a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr late on September 9.But the mills were see...Read More
Seaborne iron ore prices surged on Thursday September 12 amid support from Chinese steelmakers stocking up ahead of the week-long National Day holiday at the start of October.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $99.30 per tonne, up $4.64 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $99.69 per tonne, up $4.64 per tonne.62% Fe low-alumina fines, cfr Qingdao: $...Read More
Billet prices in Turkey have fallen sharply, following the decrease in imported scrap values, sources said on Thursday September 12.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey was $370-375 per tonne on Thursday, down from last week's $385-395 per tonne.Suppliers in the Commonwealth of Independent States (CIS) region have lowered their offers...Read More
Import prices for steel billet in Egypt fell in the week ended Thursday September 12, amid lower offer prices from the Commonwealth of Independent States (CIS) in particular. While the lower offers are the result of limited market activity across all major sales outlets, in Egypt continuing uncertainty over the country's import safeguard duty has stifled market activi...Read More
China's rebar prices were unchanged in both domestic and export market on Thursday September 12 amid thin trading. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($513-517) per tonne, unchanged Northern China (Beijing): 3,620-3,650 yuan per tonne, unchangedBuyers from the construction sector had stocked up on materials in the past three days, ahead of a public holiday on Friday to mark the Mi...Read More
Domestic stainless steel prices in China narrowed over the past week amid a mixed outlook for demand in the next few weeks.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,300-15,700 yuan ($2,150-2,206) per tonne including value-added tax for the week ended Wednesday September 11, narrowing on both...Read More
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval.HKEX's ?29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on Wednesday September 11, and comes seven years a...Read More
Eastern China's Shagang has raised the list prices for its rebar and wire rod booked in mid-September.The mill is selling its HRB400 16-25mm rebar at 3,820 yuan ($537) per tonne over the September 11-20 period, up 100 yuan per tonne from its...Read More
The Supreme Administrative Court of Egypt has again postponed its decision on the possible re-imposition of safeguard duties on billet and rebar imports and will not discuss the matter until October 5, Fastmarkets understands.The move prolongs the uncertainty in the market, which has led to a significant reduction in buying activity, sources told Fastmarkets on Tuesday September 10....Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday September 12, while considerable tightness in the metal's forward spreads prompted market questions of prospective deliveries into LME warehouses to ease trading conditions.Despite moderately low volumes at just over 6,000 lots exchanged by the close, nickel's benchmark cash/three-month spread s...Read More
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval.HKEX's ?29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on Wednesday September 11, and comes seven years a...Read More
Sentiment in the European market for hot-rolled coil (HRC) has been gloomy in the week ended Thursday September 12 due to low demand, sources told Fastmarkets.While domestic prices have been relatively stable over the past week, buyers have been targeting lower prices and they expected the mills to slightly decrease their prices in the next month."Demand is bad, and I am talking about demand from...Read More
Billet prices in Turkey have fallen sharply, following the decrease in imported scrap values, sources said on Thursday September 12.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey was $370-375 per tonne on Thursday, down from last week's $385-395 per tonne.Suppliers in the Commonwealth of Independent States (CIS) region have lowered their offers...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday September 12 that are worth another look.The three-month nickel price on the London Metal Exchange closed lower on Thursday September 12, while considerable tightness in the metal's forward spreads prompted questions in the market about prospective deliveries into LME warehouses to ease trading conditions.The proposal...Read More
Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
The whole battery supply chain will benefit from lithium benchmark pricing, Fastmarkets head of battery raw materials research William Adams says as he explores what is driving auto manufacturers to support this pricing mechanism. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles (EV) into their portfolios alongside internal combusti...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval.HKEX's ?29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on Wednesday September 11, and comes seven years a...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday September 12, while considerable tightness in the metal's forward spreads prompted market questions of prospective deliveries into LME warehouses to ease trading conditions.Despite moderately low volumes at just over 6,000 lots exchanged by the close, nickel's benchmark cash/three-month spread s...Read More
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval.HKEX's ?29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on Wednesday September 11, and comes seven years a...Read More