Benchmark international prices for cobalt stabilized last month, but salts and metal prices fell in China amid weak demand and falling local futures prices, triggering a physical sell-off.Price moves: Benchmark low-grade cobalt traded in the remarkably stable range of $33.50-34.45 per lb in October, where the assessment also ended the month. Tightness continued in the low-grade market, which takes...Read More
Turkish steel producers made no purchases in the deep-sea scrap market on Thursday November 1, with a fresh offer of material from the Baltic Sea region failing to find a taker, according to market participants.A scrap merchant in the Baltic Sea region was heard offering 30,000-35,000 tonnes of HMS 1&2 (95:5) at $345 per tonne cfr on Thursday. No mill had accepted the cargo at...Read More
Copper prices on the Comex exchange in New York maintained their recovery in the morning of Thursday November 1, with a weaker dollar providing support to the base metals complex.The copper price for December settlement on the Comex division of the New York Mercantile Exchange rose day on day by 2.60 cents per lb to $2.6850 per lb."After a largely down session across a number of commodity complexe...Read More
Benchmark international prices for cobalt stabilized last month, but salts and metal prices fell in China amid weak demand and falling local futures prices, triggering a physical sell-off.Price moves: Benchmark low-grade cobalt traded in the remarkably stable range of $33.50-34.45 per lb in October, where the assessment also ended the month. Tightness continued in the low-grade market, which takes...Read More
Huaqing Nickel & Cobalt (Huaqing), a wholly owned subsidiary of Huayou Cobalt (Huayou), plans to invest in a joint venture called Huayue Nickel & Cobalt (Huayue) in Indonesia with four other companies, Huayou announced on the Shanghai Futures Exchange on Tuesday October 30. The Huayue joint venture will build a laterite ore hydrometallurgy project producing intermediate products of nickel in Morow...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
A 1% increase in China's export rebate rate for hot-rolled coil will have a minimal impact on the spot market, traders in the country told Fastmarkets on Thursday November 1.The increase in the export rebate for HRC, from 9% to 10%, is just one of 3,449 product rebates announced by China's State Administration of Taxation on Thursday.Existing 9% rebates were increased to 1...Read More
The Thursday Market Minute Global stocks were mixed Thursday as investors gingerly returned to risk markets following the worst month for equities in at least two years amid lingering concerns over U.S.-China trade, rising interest rates and slowing economic growth.U.S. tech stocks are likely to remain in focus today after the biggest monthly decline for the Nasdaq in nearly 10 years and ahead o...Read More
AM Investco Italy, a consortium led by the world's largest steelmaker, ArcelorMittal, completed the transaction to acquire Italian steelmaker Ilva on Thursday November 1, the company said today.Following completion of the transaction, ArcelorMittal has assumed full management control of Ilva, which will form a new business cluster within ArcelorMittal Europe - Flat Products and be known as Arcelor...Read More
Turkish domestic rebar and wire rod prices went down this week because the value of the country's lira strengthened against the dollar, even though demand remained moderate, sources said on Thursday November 1.Fastmarkets' weekly price assessment for domestic rebar on Thursday was TRY3,300-3,450 ($596-623) per tonne ex-works, including 18% VAT, down from last week's TRY3,380-3,520 per tonne.The lo...Read More
Turkish long steel export prices have remained stable over the past week on soft demand and despite the firm input costs, sources said on Thursday November 1.Fastmarkets' weekly price assessment for rebar exports out of Turkey was unchanged week on week on November 1 at $500-505 per tonne fob on an actual weight basis.The mills in the country were trying to keep their...Read More
Steel billet import prices in Egypt fell in the week to Thursday November 1, on continuing limited demand in the country. Fastmarkets' weekly price assessment for steel billet imported into Egypt was $477-480 per tonne cfr on Thursday, compared with $480-490 per tonne cfr last...Read More
Pig iron export prices from the Black Sea region were largely stable this week, with sellers maintaining offers at the upper end of last week's price range, Fastmarkets learned on Thursday November 1.Fastmarkets' weekly price assessment for high-manganese pig iron was $365-375 per tonne fob Black Sea on Thursday, narrowing upward by just $5 per tonne.Cargoes intended for Italy originating in the B...Read More
Turkish steel producers made no purchases in the deep-sea scrap market on Thursday November 1, with a fresh offer of material from the Baltic Sea region failing to find a taker, according to market participants.A scrap merchant in the Baltic Sea region was heard offering 30,000-35,000 tonnes of HMS 1&2 (95:5) at $345 per tonne cfr on Thursday. No mill had accepted the cargo at...Read More
Ukrainian steelmaker Metinvest increased its output of sellable semi-finished products by 18% year on year, to 2.3 million tonnes over the first nine months of 2018, supported by favorable market conditions.In particular, Metinvest's sellable pig iron output increased by 21% year on year in January-September 2018, to 1.2 million tonnes against 989,000 tonnes.Fastmarkets' assessment for the CIS exp...Read More
Turkish billet prices increased over the past week due to the latest uptick in imported scrap values in the country, sources said on Thursday November 1.Fastmarkets' weekly price assessment for billet imports into Turkey was $465-470 per tonne cfr on November 1, up from $455 per tonne last week.Suppliers in the Commonwealth of Independent States (CIS) were offering billet in Turkey at around $470-...Read More
Steel billet import prices in Egypt fell in the week to Thursday November 1, on continuing limited demand in the country. Fastmarkets' weekly price assessment for steel billet imported into Egypt was $477-480 per tonne cfr on Thursday, compared with $480-490 per tonne cfr last...Read More
Ukrainian steelmaker Metinvest increased its output of sellable semi-finished products by 18% year on year, to 2.3 million tonnes over the first nine months of 2018, supported by favorable market conditions.In particular, Metinvest's sellable pig iron output increased by 21% year on year in January-September 2018, to 1.2 million tonnes against 989,000 tonnes.Fastmarkets' assessment for the CIS exp...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
China's ferrous futures were mixed during morning trading on Thursday November 1, with the hot-rolled coil contract trending downward during the session while the coking coal one went the opposite direction. The rebar, iron ore and coke contracts did not end too far from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,140 yuan ($594) per ton...Read More