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
Benchmark alumina prices continued to decline on Thursday March 11 due the sudden arrival of surplus cargoes into the market. Fastmarkets' daily fob Australia alumina index dropped to $387.26 per tonne on Thursday, down from $402 per tonne the previous day. The index is now 7.2% lower than at the start of April when cargoes were trading as high as $417 per tonne. "All a sudden there are multi...Read More
The Chinese economy has been slowing gradually for some time but efforts to stimulate it will eventually take hold and will probably succeed, the head of copper and diamonds at Rio Tinto has said.Arnaud Soirat told Fastmarkets in an interview during the annual CESCO week in Santiago, Chile, that Rio Tinto has for some time believed that the economy in China will progressively slow down, but has al...Read More
Chilean state-owned copper producer Codelco believes restarting operations at its Chuquicamata smelter in late April is still feasible with ramp-up happening in the second half of May, although market participants are expecting it to resume in June or July. "Now Codelco is taking care of [the construction of two sulfuric acid plants] and we believe we can deliver the first one by the end of April,...Read More
Fastmarkets published its CIS export billet index later than scheduled on Thursday April 11 but it is now appearing as normal.Fastmarkets' CIS export billet index, fob Black Sea, was published in the price book later than scheduled. The price book has been updated.To provide feedback on the delayed publication of these calculations, please contact Vlada Novokreshchenova by email at: pricing@fastma...Read More
Turkish rebar export prices have decreased over the past week because offer prices have been pushed down by lower scrap costs, sources said on Thursday April 11.Fastmarkets' weekly price assessment for rebar exports from Turkey was $480-485 per tonne fob on an actual weight basis on Thursday, falling from $485-490 per tonne fob.Turkish steel producers offered rebar for export...Read More
The import price for steel billet went down in Egypt in the week ended Thursday April 11, with demand remaining weak, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $455-458 per tonne cfr on Thursday, falling from $460-470 per tonne cfr last week.CIS-origin billet was offered to the country at $458-460 per tonne cfr but buyers believed $455 per...Read More
The domestic prices for hot-rolled coil (HRC) in Europe have moved down slightly over the week although market sentiment is largely negative, sources told Fastmarkets.The only positive factor supporting domestic prices was high import offers, but it is unlikely to help EU mills to keep prices stable, market participants said.Buying activity has been low, with some buyers who had their stocks decre...Read More
China's domestic and export prices for rebar rebounded on Thursday April 11 amid declining inventory levels in the spot market.Domestic Eastern China (Shanghai): 4,030-4,080 yuan ($600-607) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,970-4,010 yuan per tonne, up 30 yuan per tonneThere were 7.67 million tonnes of rebar in the spot market on Thursday, down 510,000 tonnes from a week e...Read More
Turkish steel mills made a booking for scrap from the United States at a higher price compared with earlier this week, while another cargo transaction heard earlier today has since been disputed by the seller, sources said on Thursday April 11.A steel producer in the Iskenderun region booked a US-origin cargo comprising of HMS 1&2 (80:20) at $308 per tonne and shredded-scrap material at $313 per t...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 oreVale, Beijing Iron Ore Trading Center, 170,000...Read More
Brazilian iron ore fines traded at higher prices on Thursday April 11, especially for the 65% Fe Iron Ore Carajas (IOCJ), amid a drop in shipments from the country and a rise in steelmaking margins in China.MB 62% Fe Iron Ore Index: $95.65 per tonne cfr Qingdao, up $1.04 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.77 per tonne cfr Qingdao, up $1.04 per tonne. MB 62% Fe Iron Ore Index-Low A...Read More
The seaborne coking coal market remained muted on Thursday April 11 with participants still holding out for clearer cues to emerge. "The import restrictions still remain a main hurdle for many end users who have been told to wait up to 60-90 days for a shipment to reach them," a trader based in northeastern China said. He was referring to unofficial obstacles that have emerged at ports in some par...Read More
China's hot-rolled coil prices stopped retreating on Thursday April 11 - and even rebounded in the eastern region - amid steady demand.DomesticEastern China (Shanghai): 3,980-3,990 yuan ($593-594) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, unchangedA Hangzhou-based trader said the day's trading activity was slightly higher than a day earlier amid continual...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Thursday April 11, with copper futures edging back to a low of $6,429.50 per tonne, while a fresh cancelation of just under 25,000 tonnes of aluminium did little to move the metal's stagnant price. The three-month copper price has continued to surrender gains above $6,500 per tonne from earlier this week, f...Read More
Import prices for stainless steel in East Asia were mostly stable over the past week due to soft demand in the region.Fastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed cold-rolled coil in East Asia was $2,030-2,100 per tonne cif on Wednesday April 10, narrowing downward by $10 per tonne from a week earlier. Fastmarkets' weekly import price assessment for bench...Read More
The same factors that have weighed on US silicon prices over the past year pushed spot prices lower again this month, although the low end of the range held firm for the first time in 2019, according to Fastmarkets AMM's assessment on Wednesday April 10.This might signal that the market has finally hit bottom, some supply-side sources suggested.Fastmarkets AMM assessed the US domestic delivered si...Read More
Fastmarkets MB has corrected its cobalt sulfate, Co 20.5% min, China ex-works, adjustment to standard-grade cobalt low-end price at Co 20.5% basis, $/Ib, which was published incorrectly on Wednesday April 10. The assessment was incorrectly published at -$0.75 - +$0.13 per lb due to a calculation error, and has been revised to -$0.15 - +$0.03 per lb. Fastmarkets MB's price book and database ha...Read More
The European Union Council of Ministers has accepted a proposal that steel, iron and non-ferrous metal producers should be allocated free carbon allowances under the EU emissions trading system (EU ETS) until 2030. The decision, backing a proposal from the European Commission, has been made because of concern that steel and other metal production could move outside the EU if the industry was force...Read More
Cobalt prices rose again on Wednesday April 10 as buyers have continued to restock while encountering newfound metal tightness into the second quarter of this year.Fastmarkets assessed the standard-grade cobalt price at $15.30-16.75 per lb, in-warehouse, on Wednesday, up by 4.4% from $14.50-16.20 per lb in the previous assessment on April 5. The price for alloy-grade material rose further; Fastmar...Read More