Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
Seaborne pig iron has become relatively competitive versus ferrous scrap over the past year in most regions, and China is no exception. As the first chart below illustrates, the gap between the MBR's proxy for imported pig iron price in China and the Metal Bulletin's Chinese domestic heavy melt scrap price assessment had shrunk by late 2017. The premium averaged $17 per tonne this year to date, co...Read More
Domestic prices for hot-rolled coil (HRC) in Turkey have been under pressure from slow trading, sources told Fastmarkets on Friday June 14.Buyers have been insisting on lower domestic prices, according to market sources. In addition, HRC buyers have been reported to have sufficient volumes of material in stock.Fastmarkets' weekly price assessment for Turkish domestic HRC was $520-530 per tonne ex-...Read More
Domestic rebar prices in Poland have moved down this week due to the negative impact of competitive import offers, sources told Fastmarkets on Friday June 14.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,000-2,120 zloty ($530-562) per tonne ex-works on June 14, compared with 2,100-2,150 zloty per tonne ex-works a week earlier.The assessment reflects...Read More
With an international career that has spanned senior positions with some of the biggest companies and mines for non-ferrous metal production, Sonami president Diego Hernandez tells Andrea Hotter about the multiple roles that led him to the pinnacle of copper mining.Diego Hernandez was in his mid-20s when he learned a very important lesson about negotiating. The young mining executive, who would go...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Fastmarkets' alumina index fob Australia fell below $340 per tonne on Friday June 14 due to pressure from high availability of unplaced cargoes and low aluminium prices. The daily fob Australia alumina index declined to $339.65 per tonne - its lowest since August 24, 2017 on Friday June 14, down from $341.52 per tonne day on day and down from $349.39 per tonne week on week.Key drivers:The most rec...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama fell 1.3% month on month in May,Japanese trading house Marubeni Corp said on Friday June 14.Total aluminium stocks at the three ports totaled 296,000 tonnes at the end of May, compared with 300,000 tonnes at the end of April, reversing the plunge seen from February to March this year, according to Ma...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday June 14:Aluminium scrapCast: ?,?860-880 per tonne from ?,?880-900Mixed turnings 6%:...Read More
Nickel stocks on the Shanghai Futures Exchange rose to 16,936 tonnes as of Friday, up by 5,835 tonnes or 52.6% from last Friday, according to the SHFE's latest inventory report.The largest inflow of nickel this week was registered at China Storage University in Shanghai, with 5,227 tonnes of the metal entering the warehouse. Poor demand for stainless steel has weighed on demand for nickel. But the...Read More
Brazilian slab export prices decreased as local producers had to accept lower prices amid reduced demand and continued low flat steel prices in international markets.Fastmarkets' weekly price assessment for Brazil export slab fell to $430-440 per tonne fob on Friday June 14, compared with $440-450 per tonne fob a week before.Producers have been offering material to different destinations at $440.....Read More
Prices for cold-rolled coil in the United States fell again in the week to Thursday June 13 after stabilizing somewhat the week before, due largely to continued deterioration in demand and sufficient metal supply.Fastmarkets AMM's weekly assessment for domestic hot-rolled coil stood at $36 per hundredweight ($720 per short ton) on June 13, down by $1 from one week earlier.Fastmarkets assessed...Read More
European long steel mills remain under pressure from weakening ferrous scrap prices and negative market sentiment, the International Rebar Producers & Exporters Association (Irepas) said in its latest short-range outlook on Friday June 14.While "the announcement of price increases by ArcelorMittal for long products, and the imminent maintenance at European mills could help to increase lo...Read More
Hot-rolled coil (HRC) import prices in India have fallen by $20 per tonne this week, with importers booking Japan- and South Korea-origin material for shipments in August, Fastmarkets heard on Friday June 14.The Indian HRC import price was assessed by Fastmarkets at $520-535 per tonne cfr Indian ports on Friday, down by $10-20 per tonne...Read More
Flat steel makers in Asia are fighting hard to retain a share of their region's market in the face of ample supplies of hot-rolled coil (HRC) coming in from international steelmakers, market sources have told Fastmarkets.Offers and transaction prices for HRC from Turkey and Russia have been undercutting the higher offer prices for Asia-origin material.The lower offers from Turkey were a result of...Read More
Prices in Southeast Asia's steel billet market drifted lower on Friday June 14 because market participants in the Philippines were cautious about making any bookings ahead of the forthcoming rainy season, while trading activity in Indonesia had yet to resume fully after the Eid al-Fitr religious holiday.Market participants in Southeast Asia were also concerned about the bearish outlook for prices...Read More
European and UK alloy steel scrap prices have decreased this week because of soft demand and aggressive negotiations by mills, Fastmarkets heard on Friday June 14.Demand for alloy steel scrap was weak because of similarly poor demand for finished stainless steel products.Scrap traders have reported selling lower volumes than usual in the first half of June, and this situation was only likely to ge...Read More
The light iron market has been steady in the UK over the past week, tracking unchanged prices in the consumer monthly delivery market against steady demand for British steel scrap exports to Turkey and India, sources told Fastmarkets on Friday June 14.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?85-105 ($108-133) per tonne on June 14, flat wee...Read More
Fastmarkets has amended the specifications for its south Brazil, Baltic Sea export and Italy import pig iron price assessments, based on market observations and feedback.Following a month-long market consultation, Fastmarkets has decided to amend the payment conditions for the south Brazilian export pig iron price from payment on-delivery to partial prepayment upon readiness, while the Commonwealt...Read More