The Turkish domestic scrap prices continued to weaken over the past week in line with falling imported scrap values, sources told Fastmarkets on Monday June 24.Several steel producers in Turkey have reduced their buy prices for local auto bundle scrap by around TRY30-85 ($5-15) per tonne over the past seven days.Long and flat steel mill ??olakoglu cut its buy price for auto bundle scrap to TRY1,83...Read More
United States buyers resumed pig iron purchases in the week to Friday June 21 at higher prices on reduced pig iron availability, sources told Fastmarkets. Fastmarkets' import price assessment for pig iron in the US was $345-354 per tonne cfr on Friday, compared with $345 per tonne cfr in the week prior. Several purchases of 100,000 tonnes in total of Russia-origin pig iron for July-Augus...Read More
Iron ore prices weakened on Monday June 24 amid worries new restrictions on blast furnaces in China's steel hub will dent demand for the steelmaking raw material. MB 62% Fe Iron Ore Index: $116.77 per tonne cfr Qingdao, down $0.21 per tonne. MB 62% Fe Pilbara Blend Fines Index: $115.57 per tonne cfr Qingdao, down $0.21 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $117.78 per tonne cfr Qingdao,...Read More
Export pig iron sales from the south of Brazil resumed at lower prices on a weak scrap market and long lead times, sources told Fastmarkets on Friday June 21.Fastmarkets' weekly price assessment for pig iron exported from the southeastern Minas Gerais region of Brazil was $315 per tonne fob on June 21, narrowing downward by $5 per tonne week on week.One sale of high-phosphorous pig iron for August...Read More
Fresh production cuts in China's steel-heavy region of Tangshan in Hebei province worsened sentiment in the seaborne coking coal market on Monday June 24."Mills have been asked to follow the output restrictions guidelines according to the categories they have been classified under, so mills in Category A will have to slash output by 20% while the other mills will have to slash by at least 50%," a...Read More
Prices for seaborne iron ore concentrate and pellets rose last week in accordance with the strengthening of the wider iron ore market, though the situation for these niche products has yet to improve amid ample supply of domestic equivalents in China.ConcentrateThe weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $123.05 per tonne cfr China last Friday June 21, up $4.56 per tonne f...Read More
China's hot-rolled coil surged on Monday June 24 after news spread that mills in Tangshan, the steelmaking hub in the country's northern region, will start production cuts to curb air pollution.DomesticEastern China (Shanghai): 3,890-3,910 yuan ($566-569) per tonne, up 110 yuan per tonneNorthern China (Tianjin): 3,830-3,850 yuan per tonne, up 60-70 yuan per tonnePrices surged nationwide after the...Read More
China's rebar market regained some upward momentum on Monday June 24 amid fresh production cuts in the country's steelmaking hub of Tangshan. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($568-575) per tonne, up 70-80 yuan per tonneNorthern China (Beijing): 3,730-3,770 yuan per tonne, up 40-50 yuan per tonneAll steelmakers in Tangshan have been instructed to lower their production by at lea...Read More
Geopolitical tensions in the Middle East showed no sign of abating over the weekend after the United States claimed that it had carried out a cyber-attack on Iranian weapons systems in retaliation for the latter shooting down a US drone last week.While the threat of a war between the two remains a possibility, global investors have taken refuge in haven assets amid the rising uncertainty in the re...Read More
Base metals prices on the Shanghai Futures Exchange were mixed during morning trading on Monday June 24, with trade and macroeconomic uncertainty keeping investors cautious at the start of a new trading week.The rising uncertainty follows a ratcheting up of tensions in the Middle East at the end of last week, while market participants eagerly await any developments on the US-China trade war from a...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 21. China Key drivers Domestic antimony price in China was flat for the third consecutive week despite sparse trading activity. Many Chinese antimony suppliers remained resolute in refusing to sell their cargoes at below 40,000 yuan ($5,822) per tonne, citing mounting difficulty in sourcing cheap ore m...Read More
The price of cobalt continued to fall last week, while prices for standard and alloy-grade units converged, in a market where sellers lowered their offers to offload material not declared on long-term agreements.Fastmarkets assessed the price of standard-grade cobalt at $13.85-14.50 per lb, in-warehouse, falling from $14.25-15 per lb on June 19, and down 3% week on week. Fastmakrets' assessment of...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 21China Key drivers Silicon export prices remained unchanged for the fifth consecutive week, with transactions remaining limited. Some sources expect a gradual recovery from supply constraints on grade-553 silicon metal in Yunnan province since mid-June, with more refiners resuming operations during the...Read More
J? 1/4 rgen Schalamon will retire from his role as chief executive officer of Samancor Chrome at the end of June after nearly 15 years in the position, Fastmarkets understands. Samancor chief operating officer Desmond McManus will succeed Schalamon as CEO...Read More
An important week While base metal prices have suffered in line with the downturn in economic activity, which we blame largely on the US-China trade dispute, generally the fundamentals have remained tight, especially on the supply side. Should a US-China trade deal be forthcoming then we would expect business confidence to rebound, supply chains to restock and more severe tightness to emerge. The...Read More
Aluminium prices gave up last week’s...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
Aluminium The LME three-month aluminium price had a...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download t...Read More
Copper prices start picking up steam ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soo...Read More
Spot TCs still on the...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’...Read More
From strength to strength as short-covering set in...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More