Alloy-grade cobalt prices maintained their premium over standard-grade during the first half of this week amid a limited supply of cut cathode for spot market inquiries. Fastmarkets assessed the standard-grade cobalt price at $15.90-16.95 per lb, in-warehouse, on Wednesday April 24, up 1.5% from the previous week's assessment. Alloy-grade metal continued to trade at a premium but saw sli...Read More
China National Corporation for Overseas Economic Cooperation (CCOEC) won 34.64 tonnes of indium in Fanya Metal Exchange's second auction - ended at 10am Beijing time on Thursday April 25 - Fastmarkets understands from the official auction result posted on the Alibaba judicial online platform.As the only bidder at the auction, CCOEC took the indium at a price of 37.4112 million yuan ($5.57 million)...Read More
The Turkish steel producers have continued their silence in the deep-sea scrap markets because of the low levels of demand for finished steel in both the export and domestic markets, sources said on Thursday April 25.Some suppliers in the Baltic Sea region were offering HMS 1&2 (80:20) at prices around $310 per tonne cfr, but the mills were not willing to buy any scrap cargoes before selling some...Read More
Major Chinese steelmaker Maanshan Iron & Steel (Magang) hopes to lead the overhaul of the Chinese ferrous scrap market by pioneering a domestic pilot project, group vice president Chen Zhaoqi said at the 12th China International Metal Recycling Conference 2019 in Zhuhai, China on April 25.Magang is planning 10 million tonnes per year of new ferrous scrap capacity across 10 ferrous scrap processing...Read More
Japan has increased its ferrous scrap exports to non-traditional markets on expectations of an oversupply of ferrous scrap from 2020 after the current wave of demand from the Tokyo 2020 Olympic Games ends, Genkichi Ando, chairman of the international network committee from the Japan Iron & Steel Recycling Institute, said this week.Japan started ferrous scrap exports to countries such as Bangladesh...Read More
A summary of Nornickel's production results for the first quarter of 2019 between January and March.IN BRIEF: First-quarter copper production for 2019 was up 13% year on year to 127,000 tonnes as a result of a production ramp-up at the Bystrinsky (Chita Copper) Project in Chita, Sibera.2019 first-quarter nickel production exceeded that of 2018...Read More
Alloy-grade cobalt prices maintained their premium over standard-grade during the first half of this week amid a limited supply of cut cathode for spot market inquiries. Fastmarkets assessed the standard-grade cobalt price at $15.90-16.95 per lb, in-warehouse, on Wednesday April 24, up 1.5% from the previous week's assessment. Alloy-grade metal continued to trade at a premium but saw sli...Read More
Chinese cobalt sulfate prices were unchanged mid-week after their retreat on Friday April 19, but waning buyer interest and concerns over the surplus dynamics of key raw material cobalt hydroxide will continue to weigh on cobalt sulfate prices, market participants told Fastmarkets MB.Fastmarkets MB assessed the Chinese cobalt sulfate price at 51,000-54,000 yuan ($7,587- 8,033) per tonne on April 2...Read More
China's hot-rolled coil exporters lowered their prices on Thursday April 25 despite domestic prices remaining largely unchanged, partly due to limited trading activity.DomesticEastern China (Shanghai): 3,990-4,000 yuan ($594-595) per tonne, unchangedNorthern China (Tianjin): 3,900-3,920 yuan per tonne, unchangedAlthough prices were stable nationwide, trading was limited, with market part...Read More
The import price for steel billet in Egypt fell in the week to Thursday April 25, on declining demand caused by uncertainty over the imposition of import duties.Demand for imported rebar was also down and domestic rebar prices increased as a result.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $445-450 per tonne cfr on Thursday, falling from $450-455 per tonne cfr l...Read More
Domestic long steel prices in Turkey have increased despite sluggish demand with the country's lira weakening against the US dollar, sources said on Thursday April 25.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,240-3,340 ($552-569) per tonne ex-works on Thursday, up from the TRY3,220-3,290 per tonne of last week.The mills in the Izmir region were offering rebar to th...Read More
Turkish rebar and wire rod export prices have remained stable over the past week with demand limited by trade blockages in the major markets, sources said on Thursday April 25.Turkish steel producers were offering rebar for export at $480-485 per tonne fob on an actual weight basis, while a few customers were bidding less than $475 per tonne.Fastmarkets' weekly price...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) has fallen into a lull for late April-early May holidays in the United States, Europe and the CIS, Fastmarkets heard on Thursday April 25.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $330-340 per tonne fob Black Sea on Thursday, down by $5 per tonne week on week.No trading activity was...Read More
Swedish iron-ore pellet producer LKAB expects continued strong demand for iron ore pellets for the remainder of 2019, it said on Thursday April 25."Prices for iron ore with a high iron content and for highly upgraded iron ore [products], such as LKAB's iron ore pellets, are at the same time continuing to increase, relative to iron ore with a lower iron content," LKAB said.Fastmarkets' MB 65% Fe Br...Read More
The Turkish steel producers have continued their silence in the deep-sea scrap markets because of the low levels of demand for finished steel in both the export and domestic markets, sources said on Thursday April 25.Some suppliers in the Baltic Sea region were offering HMS 1&2 (80:20) at prices around $310 per tonne cfr, but the mills were not willing to buy any scrap cargoes before selling some...Read More
The import price for steel billet in Egypt fell in the week to Thursday April 25, on declining demand caused by uncertainty over the imposition of import duties.Demand for imported rebar was also down and domestic rebar prices increased as a result.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $445-450 per tonne cfr on Thursday, falling from $450-455 per tonne cfr l...Read More
Domestic and export billet prices in Turkey remained stable over the past week due to weak demand, while import billet prices fell in lower offers from the CIS region, sources said on Thursday April 25.The suppliers in the Commonwealth of Independent States (CIS) region lowered their offers slightly to attract buyers in their major export markets.The CIS mills lowered their offers for Turkey to $4...Read More
Prices in Southeast Asia's steel billet market were down slightly on Thursday April 25 after a major mill in the Commonwealth of Independent States reduced its asking prices for billet to attract buyers in the region. Fastmarkets MB's daily import price for billet in Southeast Asia was $465-470 per tonne cfr Manila on Thursday, down $5 per tonne on the high end from the previous day. Bil...Read More
Falling UG2 chrome ore prices in April have been partly caused by ferro-chrome smelters in China selling their raw material back to the market, sources told Fastmarkets. Fastmarkets' UG2 chrome ore index, cif China, has dropped every week so far in April and stands at $169 per tonne as of Tuesday April 23, down from $186 per tonne on March 29. The smelters are understood to have bought too much ma...Read More
China's stainless steel prices dropped slightly over the past week as sellers focused on destocking amid weak demand.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,000-14,500 yuan ($2,083-2,157) per tonne including value-added tax for the week ended Wednesday April 24, widening downward 100 yuan per tonne from 14,100-14,50...Read More