The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 70,000 tonnes of 65% Fe Iron Ore Carajas, traded at $109.65 per tonne cfr China, laycan May 21-30.BHP, Corex, joint cargo, 110,000 tonnes...Read More
Brazil's iron ore exports fell by 29.1% in April compared with the same period in 2018, with several of Vale's operations remaining suspended in the wake of a tailings dam breach, data released by the country's economy ministry last week showed.Brazil exported 18.34 million tonnes of iron ore last month, compared with 25.88 million tonnes a year earlier. Last month's shipments are also 17.3% lower...Read More
The seaborne iron ore pellet and concentrate markets regained some strength last week, and prices are expected to rise further this week after participants return from a break for Labor Day in China.PelletsThe weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was at $128.18 per tonne cfr China last Friday May 3, up by $1.27 per tonne from a week earlier.Some traders received word that a carg...Read More
Nearly 1,500 delegates will descend upon Singapore this week to attend the seventh edition of Singapore Exchange's (SGX) annual Singapore Iron Ore Week.Much of the conversation at last year's event revolved around the need for suitable risk mitigation tools in the iron ore market amid wide and volatile grade differentials due to the Chinese government's environmental protection policy and robust m...Read More
Ferrous scrap will be the "next big thing" for commodity-based derivatives in Asia, according to the Singapore Exchange (SGX).It is one key commodity that the SGX is looking at to expand its slew of ferrous derivatives under the "virtual steel mill" concept, in addition to the iron ore and coking coal contracts that are already trading well on its platform, the exchange's head of commodities, Will...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade. Investors remain concerned about trade negotiation between the U.S. and China.Canadian Pacific (CP $298.86) is expected to open higher after increasing its dividend by 27.5%.WestJet (WJA $18.84) is expected to open higher after reporting higher than consensus first quarter earnings.Boei...Read More
Global steel billet prices were stable or continued downward in most regions following weak demand and lower scrap prices during the week ended Friday May 3.Global ferrous scrap prices trended downward due to low demand and high inventories held by steel mills.Fastmarkets daily index of North Europe-origin HMS 1&2 (80:20), reached $296.04 per tonne cfr Turkey on Friday, down from $303.55 per tonne...Read More
Global steel billet prices were stable or continued downward in most regions following weak demand and lower scrap prices during the week ended Friday May 3.Global ferrous scrap prices trended downward due to low demand and high inventories held by steel mills.Fastmarkets daily index of North Europe-origin HMS 1&2 (80:20), reached $296.04 per tonne cfr Turkey on Friday, down from $303.55 per tonne...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 3 that are worth another look.An agreement in next week's labor negotiations at Codelco's Chuquicamata mining and smelting division could prove tough to secure, Fastmarkets learned on Friday May 3. Codelco has invited unions No 1, 2 and 3 of the Chuquicamata division to hold talks about work contracts in Calama in northern Ch...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 3 that are worth another look.An agreement in next week's labor negotiations at Codelco's Chuquicamata mining and smelting division could prove tough to secure, Fastmarkets learned on Friday May 3. Codelco has invited unions No 1, 2 and 3 of the Chuquicamata division to hold talks about work contracts in Calama in northern Ch...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 44 points in pre-opening trade. Index futures responded to a twitter comment by President Donald Trump that the tariff rate will increase next week from 10% to 25% on $200 billion Chinese goods. In addition, Trump threatened to impose a 25% tariff on additional Chinese goods valued at $325 billion. The Shanghai Compos...Read More
Russia has criticized Mexico at the World Trade Organisation (WTO) for maintaining anti-dumping duties on Russian steel exports, which it claims are outdated, being based on pricing assessments using data from a different country.The Mexican government used this method for past dumping calculations on Russian steel because it is permitted under WTO rules where a government dominates an economy tha...Read More
UK long steel producer British Steel has been granted approval from a French court to take over troubled French special steelmaker Ascoval, the company said on Thursday May 2.Following the approval from the tribunal de grande instance (TGI) in Strasbourg, Ascoval, which is located in Saint-Saulve, Northern France, will officially become part of British Steel on Wednesday May 15 and will be renamed...Read More
While 2016 and 2017 each had a single, clear factor that drove up seaborne coking coal prices, this was a key feature that was missing last year, when the market continued to strengthen regardless.And if the first few months of 2019 are anything to go by, the seaborne coking coal market might have just reached a new level of complexity.When China decided to tackle overcapacity in its coal sector i...Read More
Fastmarkets MB proposes to launch a weekly price assessment of South America import aluminium-zinc alloy coated steel coil, reported on a dollar-per-tonne cfr South America basis.Market participants have been reporting significant liquidity in this market, with steady volumes being traded weekly.Based on the most widely traded product specification, the weekly price assessment for S...Read More
The pig iron market in the United States was under pressure from lower prices for high-phosphorous material from Brazil, while supplies of low-phosphorous material continued to be restricted, Fastmarkets heard on Friday May 3."The only thing really dragging pig iron [prices] down is the weak domestic [pig iron] market in Brazil and the lack of markets for high phosphorous material," one buyer in t...Read More
The dip in tin prices over the past two months reflects technical factors and a drop in semiconductor sales but a rebound is hard to envision despite an largely solid fundamental backdrop.Weakness in the global semiconductor sector has contributed to an 11% drop in the LME three-month tin price since mid-April - the sharpest fall across the base metals.The three-month price fell just 2.9% in 2018...Read More
Aluminium's three-month price on the London Metal Exchange fell over 1% at the close of trading on Friday May 3, with downward pressure emerging amid more than 230,000 tonnes of inflows over the week, while continued US dollar strength deters investors. Aluminium registered just over 10,000 lots traded at the close this afternoon, the lowest count since April 25, with thin volumes persisting due t...Read More
This recent drop in copper prices is not reflective of the current tight supply and demand fundamentals and a rebound could take place as soon as next week, Codelco's chief commercial officer Roberto Ecclefield told Fastmarkets on Friday May 3."Once China re-opens on Monday, we should see copper prices rebound," Ecclefield said in an interview. "The current price doesn't reflect fundamentals."Mark...Read More
The dip in tin prices over the past two months reflects technical factors and a drop in semiconductor sales but a rebound is hard to envision despite an largely solid fundamental backdrop.Weakness in the global semiconductor sector has contributed to an 11% drop in the LME three-month tin price since mid-April - the sharpest fall across the base metals.The three-month price fell just 2.9% in 2018...Read More