Global commodity trading company Trafigura is to closeits Stamford, Connecticut office in the United States and has offered to relocate staff to its trading hub in Houston, Texas. The closure, which will take place through the course of the year, affects the company's non-ferrous concentrates, refined metals and bulk minerals team. "Going forward this business will be run from the company's well-e...Read More
This year's annual benchmark treatment charges (TCs) for zinc and lead concentrates are expected to rise due to high supply and the novel coronavirus (2019-nCoV) outbreak in China and beyond affecting the raw materials market.Market participants gathered at the 2020 International Zinc & Zinc Oxide Conferences in Scottsdale, Arizona, in the United States, this past week for the annual contract benc...Read More
Flat-rolled steel import prices in South America dropped this past week due to pressure from low-priced offers from China and weak sentiment among buyers.Several market participants believe the drop in offers and bids are a consequence of the outbreak of the novel coronavirus (2019-nCoV).Offers for hot-rolled coil from China were heard at around $510 per tonne cfr this past week, while o...Read More
Prices for hot-rolled coil in the United Stated dropped below $29 per hundredweight ($580 per short ton) again, due to some deeply discounted deals being made to fill certain mills' order books prior to a new rumored price increase announcement, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $28.70 per cwt ($574 per ton) on Friday February 21...Read More
Domestic prices for hot-rolled coil in Northern Europe have increased day on day due to better demand from distributors, sources told Fastmarkets on Friday February 21.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?483.99 ($522.49) per tonne on Friday February 21, up by ?,?2.92 per tonne from ?,?481.07 per tonne on February 20.The index was calculated ba...Read More
The price for commercial-grade hot-rolled coil imports to India has fallen by $10 per tonne in the week to Friday February 21 after material from South Korea was booked at $500-505 per tonne cfr.Fastmarkets' assessed the price for steel hot-rolled coil import, cfr main port India at $500-505 per tonne on Friday, down from $510-515 per tonne a week earlier. "Domestic [Indian] HRC prices are un...Read More
Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil increased in the week to Friday February 21, amid improving demand and low stock levels, sources told Fastmarkets.In addition, some coated coil producers still had a shortage of hot-rolled coil - the base product for coated flat steel - so were reluctant to give discounts.Domestic pricesLocal producers were offering...Read More
Hot-rolled coil import prices decreased in Turkey during the week ended Friday February 21, with demand remaining moderate due to low domestic stock levels across the country, market participants said.Scrap prices continued to increase during the week, with the Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, reaching $273.48 per tonne on February...Read More
Polish domestic rebar prices were stable during the week to Friday February 21 after a decrease the previous week, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, was unchanged at 2,050-2,150 zloty ($517-543) per tonne on February 21. This follows a decline to this level on February 14 from 2,150-2,200 zloty...Read More
Higher raw materials costs in the global market, particularly for scrap, spurred some Egyptian rebar producers to raise their offers to domestic customers during the week to Thursday February 20.Ezz Steel was offering rebar at E ?10,100 ($646) per tonne, up from E ?9,900 per tonne a week earlier, although it was ready to give an E ?80-per-tonne discount if a firm bid was made.Suez Steel announced...Read More
Export pig iron prices from southern Brazil went up during the week ended Friday February 21 on a resumption of sales.Fastmarkets' weekly price assessment for pig iron, export, fob port of Vitoria/Rio was $315 per tonne on Friday, up from $305-310 per tonne a week earlier.A sale of 15,000 tonnes of low-phosphorous pig iron for April shipment was sold to the United States at $315 per tonn...Read More
The impact on Vale from the outbreak of the novel coronavirus (2019-nCoV) has been limited thus far, but the company is watching the situation closely in China."We are already booked with all our clients for the next 30 days," Vale ferrous and coal executive director Marcelo Spinelli said on Friday February 21. "Our main concern is the possibility of cash restrictions among our clients."On the oth...Read More
The inter-merchant spot market for light iron scrap in the UK was unchanged in the week ended Friday February 21, stable for a second week amid steady demand and regular increases in European scrap export prices, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?70-90 ($90-116) per tonne on Friday....Read More
The price of ferrous scrap imported into India surged this week on freight rate increases and a rising Turkish scrap market, sources told Fastmarkets on Friday February 21.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $303.09 per tonne on Friday, up by $16.13 per tonne from $286.96 per tonne one week ago.Deals for shredded at the start of the week were...Read More
Turkish deep-sea scrap import prices continued to surge on Friday February 21, with mills booking more cargoes for March shipment, sources told Fastmarkets.A steel producer in the Izmir region booked a US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 10,000 tonnes of shredded at $285 per tonne and 2,000 tonnes of bonus at $290 per tonne cfr.Another steel mill in the Iskender...Read More
The export market for pig iron from the Commonwealth of Independent States improved during the week ended Thursday February 20 due to continued scrap price increases. Additionally, suppliers have opted to hold back sales, contributing to the bullish mood in the market. "Suppliers apparently put things on hold and are not offering material at this point; they want to wait for better pricing," one b...Read More
Seaborne iron ore prices were rangebound on Friday February 21 with market participants retreating to the sidelines, though trading activity at Chinese ports remained robust.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.25 per tonne, up $0.24 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.58 per tonne, up $0.24 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.16 per tonne,...Read More
Aluminium stocks in Shanghai Futures Exchange-approved warehouses increased the most in percentage terms in the week to Friday February 21, with inventories up by 20.9% to 409,635 tonnes.Inbound material mainly came into Zhongchu Wuxi warehouse in Jiangsu province, and Central-China Dry-port warehouse in Henan province, increasing by 33,568 tonnes and 17,803 tonnes, respectively. "Slow...Read More
Seaborne coking coal prices moved higher on Friday February 21, in line with the general market direction since the second week of February.Fastmarkets indices Premium hard coking coal, fob DBCT: $159.20 per tonne, up $0.91 per tonne Premium hard coking coal, cfr Jingtang: $167.13 per tonne, unchanged Hard coking coal, fob DBCT: $141.63 per tonne, unchanged Hard coking coal, cfr Jingtang: $149...Read More
China's hot-rolled coil prices rose on Friday February 21, particularly in the northern region, which led exporters to raise their offers significantly.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($499-501) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,350-3,380 yuan per tonne, up 80 yuan per tonnePrices in Shanghai edged up, with trading activity rising day by day.But a trade...Read More