Here are five Fastmarkets MB stories you might have missed on Monday April 1 that are worth another look.The United States has challenged European Union proposals to label titanium dioxide and cobalt as carcinogens on free-trade grounds. As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed exte...Read More
The price of domestic ferro-chrome in China fell in the week ended Friday March 29 on lower offers from suppliers trying to tempt stainless steel consumers to buy, while the price of imported alloy was stable due to supply concerns. Domestic alloy prices in China drop prior to VAT cut Tenders in Japan see ferro-chrome price rise Imported ores into China rise Rise in the top end...Read More
Copper concentrate treatment and refining charges (TC/RCs) for Asia Pacific continued to drop in the second half of March in the absence of Las Bambas output, while Chinese smelters are prepared to accept significantly lower spot TCs for the second quarter this year. Fastmarkets' spot copper concentrate index for Asia Pacific was calculated at $66.7 per tonne/ 6.67 cents per lb on March 25, d...Read More
As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed extent of the surplus, according to Fastmarkets' market sources. Trader and consumer buying returned to the cobalt market in earnest last week for the first time in the best part of a year, but the restocking does not signal the beginning of a ret...Read More
With the international cobalt metal market falling rapidly between December 2018 and February this year, the arbitrage between the international and Chinese cobalt metal price has gradually turned in favor of Chinese imports. As a result, Chinese buyers have been considering increasing their shipments of cobalt metal since February with an expectation international cobalt prices are close to botto...Read More
Prices for shipbreaing scrap prices in Turkey have gone down slightly this week with one steel mill reducing its buying prices, but auto bundle scrap prices remained stable over the past week, sources said on Monday April 1.Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking was $320-325 per tonne on April 1, narrowing downward from the $320-330 per tonne deli...Read More
Turkish steel mills continued to hold back from the deep-sea scrap markets to watch which way the market moves after the mayoral elections held across the country yesterday, sources said on Monday April 1.The main opposition Republican People's Party (CHP) has claimed victories in the coastal Aegean and Mediterranean provinces, as well as in major cities including Istanbul. It also claims to have...Read More
Better Chinese manufacturing data has surprised the market and boosted three-month base metals prices on the London Metal Exchange by an average of 1% this morning, Monday April 1.Nickel led the way with a 2.2% gain to $13,285 per tonne, up from Friday's close at $12,995 per tonne, while tin was the laggard with a 0.4% gain. Aluminium, zinc and lead were all up by 0.9%, while copper was up by 0.7%...Read More
The European Commission (EC) has published a secondary regulation that lays down how it will assess and authorize conflict mineral due diligence schemes. The schemes can be used by European Union metal importers to demonstrate they have not sourced product from mines and smelters associated with human rights abuses.This new regulation (EU) 2019/429 'on methodology and criteria for the assessment a...Read More
With the international cobalt metal market falling rapidly between December 2018 and February this year, the arbitrage between the international and Chinese cobalt metal price has gradually turned in favor of Chinese imports. As a result, Chinese buyers have been considering increasing their shipments of cobalt metal since February with an expectation international cobalt prices are close to botto...Read More
Cobalt prices rose for the first time since late October 2018 at the end of March with traders and consumers restocking. Fastmarkets' benchmark standard-grade cobalt price assessment was $13.75-14.40 per lb, in-warehouse, on Friday March 29, up 2.2% from the previous $13.30-14.25 per lb on March 27, when they had risen 5 cents at the high end of the range. Fastmarkets' pri...Read More
The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow was strong during the week ended Monday April 1, on seasonally good demand.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was stable at 43,900-44,000 roubles ($668-670) per tonne cpt Moscow on April 1, including 20% VAT."Demand [in the secondary market] remains st...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) has softened on improved availability of May-rolling products, sources told Fastmarkets on Monday April 1.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $500-515 per tonne fob Black Sea on April 1, down from $510-520 per tonne fob a week ago.Magnitogorsk Iron & Steel Works...Read More
Turkey's flat steel exports increased by 38.12% year on year in February 2019 amid increased demand in Europe, according to the latest figures from the Turkish Statistical Institute (TUIK).Yet current demand for flat steel is weak in the country's key export markets, so export volumes may decrease in the next few months, Turkish market participants told Fastmarkets.Turkish producers have been offe...Read More
Prices for merchant bar quality (MBQ) steel were flat in the United States over the past month amid reports of mostly steady market conditions, while confirmed transactions for Mexican material have caused import prices to dip slightly. Fastmarkets AMM assessed domestic 2- x 2- x 1/4 -inch angle merchant bar at $37.05 per hundredweight ($741 per short ton) fob mill on Friday March 29, unchanged...Read More
CIS export rebar prices dropped by $10 per tonne week on week on Monday April 1 on subdued demand and a weakening of the Turkish import scrap market.Rebar offers from Ukraine and Belarus varied within the range of $470-475 per tonne fob Black Sea, down from $480-490 per tonne fob a week earlier, sources told Fastmarkets on Monday.Several sources reported a 30,000-tonne CIS-origin cargo being sold...Read More
With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in March 2019.The case list below includes only updates. For other continuing cases, see the updates for January and...Read More
Prices for shipbreaing scrap prices in Turkey have gone down slightly this week with one steel mill reducing its buying prices, but auto bundle scrap prices remained stable over the past week, sources said on Monday April 1.Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking was $320-325 per tonne on April 1, narrowing downward from the $320-330 per tonne deli...Read More
Turkish steel mills continued to hold back from the deep-sea scrap markets to watch which way the market moves after the mayoral elections held across the country yesterday, sources said on Monday April 1.The main opposition Republican People's Party (CHP) has claimed victories in the coastal Aegean and Mediterranean provinces, as well as in major cities including Istanbul. It also claims to have...Read More
Iron ore prices continued to strengthen on Monday April 1 on more news about supply disruptions.MB 62% Fe Iron Ore Index: $88.69 per tonne cfr Qingdao, up $1.88 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.81 per tonne cfr Qingdao, up $1.88 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $90.23 per tonne cfr Qingdao, up $1.41 per tonne. MB 58% Fe Premium Index: $79.86 per tonne cfr Qingdao...Read More