Most prices for steel coil products in Turkey decreased over the week ended Friday April 12, with buying activity remaining subdued.Demand in the local market was still weak because of the uncertainty after mayoral elections held across the country on March 31, and the continuing weakness of the Turkish lira.Unofficially, the Justice & Development Party (AKP) - the party of national government - w...Read More
Global ferrous scrap prices were on a downward trend this week due to thin demand from steel mills, which expected spot prices to continue to fall in the near term. Spot prices in Vietnam bucked the trend, stable despite limited offers for HMS 1&2 (80:20) materials. Turkey scrap demand limited US ferrous scrap market likely to continue downtrend Kanto Tetsugen tender concludes at ?23,300 ($209) p...Read More
The price of shredded ferrous scrap imported into India moved down this week with deals done at lower levels compared with last week, sources said on Friday April 12. Fastmarkets' weekly index for containerized imports of shredded scrap into India fell to $331.32 per tonne cfr on Friday from $334.45 per tonne cfr on April 5. This week, deals were heard for shredded scrap done at $330 and $333...Read More
European traders have complained of being priced out of the market for domestic grade-316 stainless steel scrap because of high demand from Asian importers, Fastmarkets heard on Friday April 12.One European trader was offered grade-316 scrap solids at ?,?1,650 ($1,859) per tonne delivered, but declined the deal because it did not think it would be able to achieve a positive margin when selling the...Read More
Turkish steel mills ended the week in silence on Friday April 12, booking no new deep-sea cargoes, while market participants awaited fresh bookings to get an idea of the market direction, sources told Fastmarkets. No new deep sea-cargoes came to light on Friday, but negotiations continue between mills and traders, with many expecting prices to continue moving downward into next week.Some traders r...Read More
Prices for light iron steel scrap in the United Kingdom were rolled over for a fourth week on Friday April 12, supported by the rollover of the monthly ferrous prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-110 ($118-144) per tonne on April 10. The price has remained unchanged since March 15.The flat week...Read More
Seaborne iron ore prices continued to rise on Friday April 12, with high-grade materials such as Iron Ore Carajas (IOCJ) continuing to outperform other grades.MB 62% Fe Iron Ore Index: $96.47 per tonne cfr Qingdao, up by $0.82 per tonne.MB 62% Fe Pilbara Blend Fines Index: $95.74 per tonne cfr Qingdao, up by $0.97 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $98.32 per tonne cfr Qingdao, up by...Read More
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 oreRio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara Blend fines, traded at $94.20 per tonne cfr China, laycan May 1-10.Vale,...Read More
The Comex copper price surged in the US morning session on Friday April 12 amid a falling dollar and upbeat sentiment from Cesco Copper Week in Santiago, Chile. The copper price for May settlement on the Comex division of the New York Mercantile Exchange jumped 5.70 cents to $2.9440 per lb. The contract has been unable to set a solid price direction this week with prices rising and falling day by...Read More
Warrant traders were reporting an easing of South Korean aluminium warrants after a pocket of short supply in the region began to ease in the week ended Friday April 12, while a significant reduction in the length of queues at Malaysian warehouses operated by Istim also made trading easier.Fastmarkets' most recent assessment for in-warehouse P1020 aluminium warrants in East Asia fell this week to...Read More
Copper stocks held in Shanghai Futures Exchange-approved warehouses dropped by 5% week on week as of Friday April 12 on tightening supplies.Deliverable copper stocks at SHFE-approved warehouses have fallen by 12,142 tonnes since April 4 to reach 245,178 tonnes as of this Friday. This week's sharp drop follows a fall of 4,092 tonnes on April 4, before which stocks had been climbing. Zhong...Read More
The seaborne coking coal market picked up some strength on Friday April 12 with transactions being concluded at higher-than-expected prices.A May-loading cargo of premium low-vol hard coking coal was sold at $200.77 per tonne cfr China to a Chinese trader, according to various sources in China. The same product was offered at $200 per tonne cfr on Thursday.A May-laycan cargo of premium mid-vol har...Read More
The following Fastmarkets minor metals prices changed on Friday April 12:Minor metalsBismuth MB China domestic, yuan/tonne: 47,000-48,000 yuan per tonne from 46,500-48,500 yuanChromium MB free market alumino-thermic, $/tonne: $8,275-8,750 per tonne from $8,400-8,900Cobalt MB free market alloy grade, $/lb: $16.60-17.40 per lb from $16.50-17.30Cobalt...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
Australian miner New Century Resources reported on Thursday April 11 that it had achieved a quarterly increase of more than 50% in its zinc metal production in the form of concentrates from its Century mine during the first quarter of 2019.The miner produced 18,170 tonnes of zinc content in 37,500 tonnes of zinc concentrates during January-March from the mine in the Australian state of Queensland....Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday April 12:The following Fastmarkets non-ferrous European free market scrap prices changed on Friday April 12:Aluminium scrapFloated...Read More
UK and European steel market participants renewed calls for the European Union and the United Kingdom to reach an agreement and avoid continued market uncertainty after the UK was granted a six-month extension to delay Brexit until Thursday October 31. The latest extension has also averted the prospect of the UK having to leave the EU without a deal on Friday April 12. A "no deal" Brexit would mea...Read More
Copper's three-month price on the London Metal Exchange drifted lower at the close of trading on Thursday April 11, capped by low-volume trading amid international trade tensions, while positive unemployment figures from the United States in the afternoon did little to boost investor confidence.Three-month copper futures traded around $6,400 per tonne over the afternoon, but have softened by aroun...Read More
Comex copper prices tumbled in morning trading on Thursday April 11 in the United States amid weak trading volumes and a stronger dollar.The copper price for May settlement on the Comex division of the New York Mercantile Exchange declined by 2.25 cents per lb to $2.9030 per lb.Trading volumes have been low this week with major market participants attending the Cesco Copper conference...Read More