Fastmarkets summarizes five key points we learned at Antaike's 2019 China Industry Silicon Conference in Guizhou, China, over April 24-26. Domestic silicon consumption in China likely to fall; concern growing over export prices Demand in China's silicon market is likely fall in the near term while the secondary aluminium market struggles with restrictions on imports of non-ferrous scrap metal, mar...Read More
Eramet increased its manganese output by 14% year on year in the first quarter of 2019, while also increasing sales volumes by 7% despite lower prices, the French mining and metallurgical group said on Thursday April 25.The company produced a record quarterly volume of 1 million tonnes of manganese ore and made ?,?434 million ($483.63 million) in product sales.The performance shows a healthy manga...Read More
Turkish domestic ship scrap prices have fallen slightly over the past week, while a number of steel mills raised their buy prices for auto bundle scrap due to the continual weakening of the lira against the US dollar, sources said on Monday April 29.Three steel mills continued to buy ship scrap at $315-320 per tonne delivered, but a fourth mill reduced its buy price to $310 per tonne delivered.So...Read More
The Turkish steel producers have continued their deep-sea scrap bookings after achieving lower prices, sources told Fastmarkets on Monday April 29.Three deep-sea cargoes were heard traded late on April 27 and on April 28.A steel mill in the Izmir region booked a US cargo, comprising HMS 1&2 (80:20) at $307 per tonne, shredded at $312 per tonne and bonus at $317 per tonne...Read More
Copper scrap sold into China in April was at the widest discount level in the past three years on a massive backlog of non-ferrous scrap due to the upcoming halt in July scrap imports after policy changes.Fastmarkets assessment for the discount for No2 copper scrap, birch/cliff, imported in China is at 37-42 cents per lb on April 29, a significant stretch compared with 32-38 cents per lb a month b...Read More
The Monday Market Minute Global stocks trade higher as investors continue to bet on a Goldilocks scenario for the U.S. economy and further record gains for Wall Street.The Fed's preferred inflation gauge will be published at 8:30 am eastern today, with any slowing in core prices likely to boost market bulls following Fridays' stronger-than-expected first quarter GDP reading of 3.2%US earni...Read More
Treatment charges (TCs) paid for zinc concentrates on the spot market declined in April, with Chinese smelters and traders actively acquiring tonnages at lower levels than before.Fastmarkets monthly assessment for zinc concentrate spot TCs, cif Asia Pacific, was at $260-290 per tonne on April 26, down from $270-305 per tonne on March 29.The drop marks a break in the uptrend for sharply rising zinc...Read More
London Metal Exchange base metals prices have generally been weak in recent days but some dip-buying seems to be emerging, which for now is providing support. But, with much of Asia in, or heading for, Golden Week and Labor Day holidays, liquidity is likely to shrink either leading to more volatility, or quiet trading in the days ahead.Asian equities firmer this morning helped by strong US gross d...Read More
Chinese imports of cobalt intermediates rose quickly in March after the price, as well as that of the international cobalt benchmark price, accelerated downward in January, which stimulated buying of the raw material. China imported 21,210 tonnes of cobalt intermediates in March, up by almost 83% from 11,596 tonnes in February, according to official but unconfirmed data. Prior to March, Chinese im...Read More
Vietnamese buyers are bidding lower for hot-rolled coil amid ample supply of both domestic materials and imports in the Southeast Asian country.The Fastmarkets MB weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $535-545 per tonne cfr for the week ending Monday April 29, widen...Read More
China's hot-rolled coil prices rebounded on Monday April 29 with trading activity picking up in comparison with last Friday, though there is not much optimism for further growth.DomesticEastern China (Shanghai): 4,000-4,010 yuan ($594-596) per tonne, up 20 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, up 20 yuan per tonneTrading activity, though higher than at the end of last...Read More
While prices for merchant bar quality (MBQ) steel again remained steady in the United States over the past month, sources pointed to seasonally weak demand, reports of discounts and potential further erosion in scrap costs as downward pressure points weighing on the spot market. Fastmarkets AMM assessed domestic 2- x 2- x 1/4 -inch angle merchant bar at $37.05 per hundredweight ($741 per short t...Read More
Russian steel and vanadium producer Evraz's sales of final vanadium products fell by 5.3% quarter-on-quarter in the first quarter of 2019 to 2.52 million tonnes, the company said in a trading update on Monday April 29.This was down from 2.66 million tonnes of pure vanadium produced in the fourth quarter of 2018, and down by 19% year-on-year from the first quarter of 2018, when Evraz produced 3.11...Read More
Market sources surveyed by Fastmarkets last week broadly agreed that the prospects for steel exports out of Turkey remained poor at the end of April, with no recovery likely soon because of trade barriers erected by authorities in the country's principal outlet markets.This will affect steel output in Turkey, with local demand also limited by the country's economic uncertainty and the decline in t...Read More
Turkish domestic ship scrap prices have fallen slightly over the past week, while a number of steel mills raised their buy prices for auto bundle scrap due to the continual weakening of the lira against the US dollar, sources said on Monday April 29.Three steel mills continued to buy ship scrap at $315-320 per tonne delivered, but a fourth mill reduced its buy price to $310 per tonne delivered.So...Read More
The Turkish steel producers have continued their deep-sea scrap bookings after achieving lower prices, sources told Fastmarkets on Monday April 29.Three deep-sea cargoes were heard traded late on April 27 and on April 28.A steel mill in the Izmir region booked a US cargo, comprising HMS 1&2 (80:20) at $307 per tonne, shredded at $312 per tonne and bonus at $317 per tonne...Read More
Physical iron ore prices advanced on Monday April 29 amid gains in China's futures market.MB 62% Fe Iron Ore Index: $94.05 per tonne cfr Qingdao, up $0.47 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.83 per tonne cfr Qingdao, up $0.47 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $97.10 per tonne cfr Qingdao, up $1.07 per tonne. MB 58% Fe Premium Index: $84.64 per tonne cfr Qingdao, up $...Read More
China's domestic rebar prices held steady on Monday April 29 despite a strengthening of the billet and futures markets ahead of the Labor Day holiday from Wednesday until the end of the week.Domestic Eastern China (Shanghai): 4,050-4,100 yuan ($602-609) per tonne, unchangedNorthern China (Beijing): 3,950-4,000 yuan per tonne, unchangedRebar futures strengthened during the day after the price of bi...Read More
The import price for steel slab in Southeast Asia and East Asia was unchanged over the past week with producers in the regions hiking up their asking prices despite muted buying interest.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $470-480 per tonne cfr on Monday April 29, unchanged from a week earlier.No deals were heard during the week to Monday,...Read More
Ferro-silicon prices in the Chinese domestic market have begun to fall again after a brief period of stability when weak demand in the magnesium sector dragged down the bulk alloy market.For its part, the European ferro-silicon market also dropped in the week to Monday April 29, with producers failing to support prices while consumers continued to settle delivery contracts at ever-lower values. Sl...Read More