The domestic Chinese ferro-silicon price fell by 2.3% week on week on Friday July 12 despite tighter supply, while the European market continued to fall on slow downstream demand. Chinese domestic market dropped 2.3% while the export price was unchanged. Europe market fell by 1.3% on thin demand and reduced offers in the market. US prices were unchanged with a few deals concluded with...Read More
High-grade manganese ore prices jumped in China for the first time since April because of consumers favoring higher-quality material. High-grade material jumps by 4.8%Low-grade ore rises steadilySilico-manganese prices slide in China but hold in IndiaSilico-manganese prices rise in Europe, USFerro-manganese prices hold in Europe, US High-grade manganese ore prices jumped on Friday July 12 due to i...Read More
Here are five Fastmarkets MB stories you might have missed on Monday July 15 that are worth another look.In copper, the World Bank's International Centre for Settlement of Investment Disputes has awarded $5.84 billion in damages to Tethyan Copper Co Pty Ltd, Antofagasta said on Monday July 15. Separately, Fastmarkets summarizes five key points to take away from the one-day Yantai Copper...Read More
Fastmarkets summarizes five key points to take away from the one-day Yantai Copper Industry Forum held on Friday July 12 in China's north-eastern Shandong province.Copper production disruptions will slow the fall in TCsProduction disruptions at several Chinese copper smelters will slow the decline in treatment and refining charges (TCs/RCs) for copper concentrates, delegates told Fastmarkets at th...Read More
Production disruptions at several Chinese copper smelters will slow the decline in treatment and refining charges (TCs/RCs) for copper concentrates, delegates told Fastmarkets at the Yantai Copper Industry Forum in north-eastern China on Friday July 12.A Shandong-based copper smelter, which has been plagued by financial constraints for a long time, recently could not afford to purchase copper conc...Read More
Key data from the Monday July 15 pricing session in London.Fastmarkets' benchmark alumina index, fob Australia, fell to $298.10 per tonne on Monday July 15 from $305.36 on July 12. The index is now at its lowest level since June 1, 2017 and down 24% since the start of the year.Key drivers The latest deal for Western Australian alumina concluded at...Read More
The World Bank's International Centre for Settlement of Investment Disputes has awarded $5.84 billion in damages to Tethyan Copper Co Pty Ltd (TCC), Antofagasta said on Monday July 15. The award was granted to the equally-held joint venture between Antofagasta and Barrick Gold Corp for arbitration claims filed against Pakistan following the denial of a mining lease for the Reko Diq project in Paki...Read More
Stainless steel prices in Asia are set to remain supported in the near term amid improved domestic demand in China and a surge in nickel prices following news of Indonesia's plan to ban the export of ores, including that of nickel, by 2022."My customers have stepped up their purchases of stainless steel, having limited their procurement rates earlier this year," a Wuxi-based trader who sells to th...Read More
Temporary production disruptions and a declaration of force majeure at ArcelorMittal Italia have had little effect on the European flat steel market, market sources told Fastmarkets on Monday July 15.The steelmaker had temporarily hot-idled its blast furnaces (BFs) Nos2 and 4 at the end of last week. The equipment was idled due to a strike on July 11 that Italian trade unions announced after a fat...Read More
Buying activity in the CIS export long steel market was rather modest in the week to Monday July 15.Customers either preferred to refrain from bookings amid sluggish demand in their home markets, or were cautiously waiting for more clarity to emerge in the import scrap market in Turkey.Nevertheless, wire rod prices climbed over the week with a small CIS cargo reported sold at around $500 per tonne...Read More
Prices in Asia for hot-rolled coil (HRC) have fallen in the past week on hectic selling by traders, market sources told Fastmarkets on Monday July 15.Fastmarkets' price assessment for steel HRC import, cfr Vietnam - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $510-515 per tonne cfr on July 15, down by $5-7 per tonne from $517-520...Read More
Turkey's biggest steel producer, Erdemir Group, has denied making an offer to acquire struggling UK long steelmaker British Steel, it said in a stock exchange disclosure late on Sunday July 14."In some news published in [the] international media and reflected in the [Turkish] national media, it was claimed that our company made an offer for the acquisition of British Steel," the disclosure said. "...Read More
Import prices for rebar in Singapore have narrowed upward over the past week on continued demand from end-users.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $494-495 per tonne cfr on Monday July 15, narrowing upward by $4 per tonne cfr from a week earlier.There wa...Read More
The price of steel slab imported in Southeast Asia and East Asia fell over the week to Monday July 15 because of the weakening prices in the downstream hot-rolled coil market weighing on market sentiment, market sources said.Fastmarkets' assessment of the steel HRC import, cfr Vietnam, price was $510-515 per tonne for the week ending on Monday July 15, down by $5-7 per tonne from...Read More
China's hot-rolled coil prices bounced back on Monday July 15 after the futures market strengthened after the release of economic data for the first half, while expectations of a drop in supply provided additional support.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($559-562) per tonne, widening upward by 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 20 yuan per...Read More
Australian miner Mount Gibson Iron shipped a total of 2.93 million wet metric tonnes of high-grade iron ore in the year to June 30, 2019, which was within the company's sales guidance range of 2.7-3.3 million wmt.The iron ore producer had shipped 607,000 wmt of iron ore in the April-June quarter, of which 370,000 wmt consisted of its new high-grade fines mined at its Koolan Island mine in the nort...Read More
Turkish steel mills began the week in silence due to a public holiday in the country, sources said on Monday July 15.The Democracy and National Unity Day public holiday in Turkey meant trading activity was paused at the start of the week with many traders not at work.The last verified scrap...Read More
Seaborne iron ore prices resumed their upward trajectory on Monday July 15, amid fears of supply tightness accompanied by a positive outlook on China's overall economy.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.41 per tonne, up $2.12 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.33 per tonne, up $2.12 per tonne. Fastmarkets' ind...Read More
Seaborne coking coal prices softened further on Monday July 15 despite buying activity generated by keen interest from China.A cargo of premium mid-vol hard coking coal was traded at around $186 per tonne cfr China, sources said during the day.This is $6 per tonne higher than the fob Australia price for a cargo of the same brand that changed hands last week. It is also about $4 per tonne lower tha...Read More
Seaborne iron ore concentrate and pellet prices fell in the week to Friday July 12 amid generally weaker market conditions after earlier gains.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao stood at $121.85 per tonne on July 12, down by $3.27 per tonne week on week.The daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $127.94 per tonne ove...Read More