Key data from the price assessment on Thursday December 12 in Shanghai.Fastmarkets assessed the price of alumina metallurgical grade, ddp China at 2,330-2,450 yuan ($331-348) per tonne on December 12, down 1% from the previous week's 2,350-2,480 yuan per tonne.Key drivers: Cargoes continued to be imported to China in significant numbers after the import arbitrage window opened late in Se...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 12 that are worth another look.Middle Eastern steel producers need to diversify their product lines to survive weakening demand in the region, according to Saeed Ghumran Al-Remeithi, the chief executive officer of the United Arab Emirates' biggest steelmaker, Emirates Steel.China's domestic stainless steel prices dropp...Read More
Benchmark alumina prices for spot cargoes stabilized around $280 per tonne on Thursday December 12 while participants focus on business for 2020.Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $279.46 per tonne on Thursday, little changed from $279.40 per tonne on the previous day. The index was above $280 per tonne on December 9 for the first time since November 14. Ke...Read More
Key data from the price assessment on Thursday December 12 in Shanghai.Fastmarkets assessed the price of alumina metallurgical grade, ddp China at 2,330-2,450 yuan ($331-348) per tonne on December 12, down 1% from the previous week's 2,350-2,480 yuan per tonne.Key drivers: Cargoes continued to be imported to China in significant numbers after the import arbitrage window opened late in Se...Read More
China's spot silico-manganese price rose in the week ended Friday December 6 and has maintained the upward momentum so far this week after some alloy smelters raised their offers amid an increase in futures prices and growing buying interest from mills and traders. Fastmarkets assessed the price of silico-manganese, 65% Mn min, max 17% Si, in-whs China at 5,700-5,800 yuan ($810-824) per tonne on D...Read More
Cobalt sulfate prices in China have held for the second consecutive pricing session, with the majority of producers holding their quotations firm amid high raw materials costs. Fastmarkets' assessment for Cobalt sulfate 20.5% Co basis, exw China, stood unchanged at 42,000-45,000 yuan ($5,973-6,400) per tonne on Wednesday December 12 from its previous assessment. The price has dropped 28.7% si...Read More
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More
UK suppliers of steel scrap to domestic consumers in the steel sector have gained another round of price increases for monthly settlements, sources told Fastmarkets on Thursday December 12.December contracts were up ?10 ($13) per tonne after increasing by ?15 per tonne in November, they said.The move marks a change in the downward trend of September and October when prices fell by a combined ?6...Read More
Turkish steel producers have resumed their deep-sea scrap purchases after a short break for negotiations, sources said on Thursday December 12.A steel mill in the Marmara region booked a 40,000-tonne US cargo, comprising HMS 1&2 (80:20) at $297 per tonne, shredded at $302 per tonne and bonus at $307 per tonne cfr.A steel producer in the Iskenderun region booked a 30,000-tonne Baltic Sea cargo of H...Read More
China's output and sales of new energy vehicles (NEVs) fell again on an annual comparison in November 2019 following its first negative growth in July.China produced 110,000 new energy vehicles (NEVs), including pure electric vehicles (PEVs) and plug-in hybrids, in November 2019. This is down by 36.9% from November 2018, according to data released by the China Association of Automobile Manufacture...Read More
The United States' flat-rolled import market is mixed, with prices for imported hot-rolled coil, cold-rolled coil and galvanized sheet inching up while those for plate are steady - although the material from abroad has failed to entice domestic buyers."Imports, just forget it. [Hot-rolled coil from Mexico] isn't attractive at all, it's pretty much the domestic price," a US steel distributor source...Read More
Domestic prices for hot-rolled coil in Northern Europe have been largely unchanged day on day and sentiment in the market remains positive, sources told Fastmarkets on Thursday December 12.Domestic prices have been supported by combination of reduced output from European mills, a lack of competitive import offers and some demand recovery.Fastmarkets' daily steel hot-rolled coil index domestic, ex-...Read More
Fastmarkets is proposing to change the publication date of its Brazilian domestic steel price assessments, ex-works Brazil, reais per tonne.The proposal would shift publication of Brazilian domestic flat steel and rebar price assessments from the first Friday of each month to the second Friday of each month, allowing Fastmarkets to capture price changes more quickly and accurately.After receiving...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 12 that are worth another look.Middle Eastern steel producers need to diversify their product lines to survive weakening demand in the region, according to Saeed Ghumran Al-Remeithi, the chief executive officer of the United Arab Emirates' biggest steelmaker, Emirates Steel.China's domestic stainless steel prices dropp...Read More
Fastmarkets is proposing to change the publication date of its Brazilian domestic steel price assessments, ex-works Brazil, reais per tonne.The proposal would shift publication of Brazilian domestic flat steel and rebar price assessments from the first Friday of each month to the second Friday of each month, allowing Fastmarkets to capture price changes more quickly and accurately.After receiving...Read More
Turkish long steel export prices continued to increase over the past week in response to rising imported scrap values, sources told Fastmarkets on Thursday December 12. However, demand remains limited in the country's major export destinations, they added.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey was $435-440 per tonne on Thu...Read More
UK suppliers of steel scrap to domestic consumers in the steel sector have gained another round of price increases for monthly settlements, sources told Fastmarkets on Thursday December 12.December contracts were up ?10 ($13) per tonne after increasing by ?15 per tonne in November, they said.The move marks a change in the downward trend of September and October when prices fell by a combined ?6...Read More
Turkish steel producers have resumed their deep-sea scrap purchases after a short break for negotiations, sources said on Thursday December 12.A steel mill in the Marmara region booked a 40,000-tonne US cargo, comprising HMS 1&2 (80:20) at $297 per tonne, shredded at $302 per tonne and bonus at $307 per tonne cfr.A steel producer in the Iskenderun region booked a 30,000-tonne Baltic Sea cargo of H...Read More
Physical iron ore prices softened on Thursday December 12 amid losses in Chinese rebar prices and news of production restrictions in Anyang city, central China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.02 per tonne, down $0.65 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.11 per tonne, down $0.65 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.63 per t...Read More
Steel billet prices in Turkey increased over the past week in response to the rising cost of imported scrap, sources told Fastmarkets on Thursday December 12.Suppliers of material from the Commonwealth of Independent States (CIS) raised their offers for Turkey to $420-425 per tonne cfr this week, up from $410-415 per tonne last week. However, buyers in Turkey prefer domestic billet...Read More