The discount for No2-grade copper scrap in China widened this month on higher availability because Chinese buyers have quickly used up the import quotas granted by the government.The value for copper scrap No2 copper (birch/cliff), imported into China, 94-96%, LME/Comex discount, cif China, was $0.32-0.36 per lb on Monday July 29, compared with $0.29-0.35 per lb on June 24.Scrap material from Sout...Read More
Singapore Exchange's (SGX) 65% Fe iron ore derivative contract hit a monthly-traded volume of 2.0397 million tonnes as on Monday July 29, the highest since the contract's launch on December 3, 2018.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.99 per tonne, down $0.32 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $1117.91 per t...Read More
Seaborne coking coal prices dropped on Monday July 29, as offer and traded levels plunged.A premium mid-vol cargo changed hands at $168 per tonne fob Australia, market sources said during the day.On the Global Coal platform, an offer for a September-loading premium mid-vol cargo stood at $162 per tonne fob Australia, they added.Chinese buyers continue to hold a bearish outlook on prices amid restr...Read More
Citic Metal, the exclusive sales agent in China for ferro-niobium from Companhia Brasileira de Metalurgia e Minera????o (CBMM), surprised the market by keeping its third-quarter price unchanged from the previous quarter, sources told Fastmarkets.The market had been expecting CBMM to lower its ferro-niobium price, which has gradually lost its allure compared with vanadium products because of the de...Read More
The uncertainty created by trade tensions, including the potential for US tariffs on the automotive sector, is deterring investment decisions in the industry and leading to reduced forecasts for growth, according to Norsk Hydro's chief executive officer. One of the key reasons why the Norwegian aluminium producer lowered its demand growth expectations for the metal in 2019 was the insecurity...Read More
Here are five Fastmarkets MB stories you might have missed on Monday July 29 that are worth another look.The Peruvian federal government is drafting a new mining code to ensure legal certainty and social responsibility in the development of projects in the country, national president Mart?-n Vizcarra said on Sunday July 28 during the country's independence day festivities. The announcement wa...Read More
The Peruvian federal government is drafting a new mining code to ensure legal certainty and social responsibility in the development of projects in the country, national president Mart?-n Vizcarra said on Sunday July 28 during the country's independence day festivities.The announcement was made following almost two weeks of public demonstrations and street blockades in the Arequipa region against...Read More
Base metals prices other than tin and lead had rebounded by the kerb close on the London Metal Exchange on Monday July 29 despite thin trading volumes and a stronger US dollar index.After a cautious start to the day, most of the base metals made gains in anticipation of tomorrow's trade meeting between the United States and China, the release of Chinese economic data and a Federal Open Markets Com...Read More
Consumers are starting to pay a premium for aluminium produced with lower carbon emissions and a limited environmental impact, according to the chief executive officer of Norsk Hydro. The Norwegian aluminium producer is starting to see traction for its green aluminium products, which include brands Hydro 4.0 and Hydro 75R, Hilde Merete Aasheim told Fastmarkets."We'd really like to build on this go...Read More
The continued closure of the import arbitrage window to China and the lingering absence of Nyrstar's Port Pirie from the market triggered a rise in treatment charges for lead concentrates over July, while TCs for zinc concentrates also rose.Fastmarkets assessed low-silver spot lead concentrate TCs at $30-50 per tonne cif China on July 26, up from $20-30 per tonne a month earlier. Spot TCs for high...Read More
The discount for No2-grade copper scrap in China widened this month on higher availability because Chinese buyers have quickly used up the import quotas granted by the government.The value for copper scrap No2 copper (birch/cliff), imported into China, 94-96%, LME/Comex discount, cif China, was $0.32-0.36 per lb on Monday July 29, compared with $0.29-0.35 per lb on June 24.Scrap material from Sout...Read More
Merchant bar quality (MBQ) steel prices in the United States remained flat month over month, although some sources reported seeing improved market activity in certain regions of the country.Fastmarkets monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US, remained at a 16-month low of $33.80 per hundredweight ($676 per short ton) on Friday July 26 after falling...Read More
Mexican integrated steelmaker Altos Hornos de Mexico (Ahmsa) posted a 22.9% year-on-year decline in second-quarter steel sales volumes, while its average selling price fell by 13.3% in the same comparison.Steel sales volumes totaled 759,205 tonnes in the second quarter compared with 984,524 tonnes in the same period last year, Ahmsa said in its quarterly earnings report on Friday July 26. Its...Read More
The Saudi Arabian government is planning to impose a new export duty on steel rebar, market participants told Fastmarkets on Monday July 29.No official announcement about a new duty had been made before the story was published in a local newspaper, which quoted a spokesperson from the Ministry of Commerce & Investment saying that the government will impose the duty soon.The...Read More
Slower buying activity and lower bids from customers have forced CIS wire rod suppliers to reduce their export offer prices at the end of this month, Fastmarkets learnt on Monday July 29.Russia-origin wire rod was available to foreign customers at $490 per tonne fob Black Sea, down by $10 per tonne week on week. A European trader was bidding around $485 per tonne fob. But this price was rejected b...Read More
Import prices for steel slab in Southeast Asia and East Asia rose over the past week after producers raised their asking prices because of high raw material costs, market sources said.The price hikes were expected because of the rise in the iron ore price, source in Southeast Asia said.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, was $118.31 per tonne on July 26, up $1.31 per tonne f...Read More
China's hot-rolled coil sellers cut prices on Monday July 29 amid weak demand, while the news that the government will exempt some companies from winter production cuts also weighed on market sentiment.DomesticEastern China (Shanghai): 3,830-3,840 yuan ($557-558) per tonne, down 20-30 yuan per tonneNorthern China (Tangshan): 3,820 yuan per tonneSpot prices nationwide dropped following lo...Read More
Hot-rolled coil prices in Asia were mostly down this week due to ample supply of prompt and September-shipment materials.Fastmarkets' steel HRC import, cfr Vietnam assessment - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $510-520 per tonne cfr for the week ending Monday July 29, down $5 per tonne from $515-525 per tonne a week ea...Read More
Import prices for rebar in Singapore were unchanged on limited spot trading in 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 $485-495 per tonne for the week to Monday July 29, unaltered from the previous week.High inventory levels, especially...Read More
Turkish steel mills have reported no bookings in the deep-sea scrap markets at the start of this week although they were still need to buy more material for August, sources said on Monday July 29.After booking four deep-sea cargoes last week, the mills stepped out of the deep-sea markets because of weak demand for finished long steel, those sources added."I believe the mills will need to buy few m...Read More