Domestic long steel prices in Turkey continued to increase over the past week in line with the rising imported scrap values, sources said on Thursday December 5.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was 2,920-2,950 Turkish lira ($508-514) per tonne, including 18% VAT, on Thursday up from last week's 2,840-2,880 lira per tonne.Mills in the...Read More
Turkish steel producers skipped the day with no deep-sea bookings, while prices remained unchanged on tight supply, sources said on Thursday December 5.There were rumors of a UK or European cargo being sold at $282 per tonne cfr for HMS 1&2 (80:20), but market participants said the deal had not been closed."Suppliers have already...Read More
The seaborne iron ore prices have stayed rangebound on Thursday December 5, while demand for iron ore lump has started to improve.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.65 per tonne, down $0.41 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.74 per tonne, down $0.41 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.25 per tonne, down $0.38 per tonne.58%...Read More
Seaborne coking coal prices remained stable on Thursday December 5, with transaction prices seeing only mild movements in recent days.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.79 per tonne, down $0.01 per tonnePremium hard coking coal, cfr Jingtang: $147.22 per tonne, up $0.13 per tonne Hard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr J...Read More
Prices in Southeast Asia's steel billet market gained during the week to Thursday December 5 amid concerns over a potential supply deficit after a Russian steelmaker halted production. Sources told Fastmarkets that the Russian mill was facing difficulty in obtaining financing for raw materials due to a government probe into the company. A total of 100,000 tonnes of February-shipment billet from th...Read More
China's hot-rolled coil prices remained robust on Thursday December 4, partly because securities companies were buying spot goods to fulfil orders they had signed several weeks ago.DomesticEastern China (Shanghai): 3,770-3,800 yuan ($535-540) per tonne, widening upward by 20 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, unchangedSpot prices in Shanghai narrowed upward, w...Read More
Renewed optimism that a phase one trade deal between China and the United States could soon be reached gave a boost to most of the base metals traded on the Shanghai Futures Exchange during the morning session on Thursday December 5. This morning's broadly positive performance follows reports on Wednesday that a partial US-China trade deal may be nearing. This despite comments from US President Do...Read More
Glencore has cut its production guidance for cobalt in 2020 to 25,000-33,000 tonnes, down by about a third from 2019's 41,000-45,000 tonnes, the Swiss miner-trader said this week.In an investor presentation on Tuesday December 3, the company said that for 2021 and 2022 it expects to produce 28,000-36,000 tonnes of cobalt. It said the decline in production was mainly a...Read More
Chinese stainless steel prices in both the domestic and export markets fell over the past week amid bearish sentiment stemming from the high inventories held at a major mill in eastern China.DomesticFastmarkets' weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,400-15,000 yuan ($2,040-2,125) per tonne incl...Read More
Spot demand for tin diminished further in the week to Tuesday December 3, with the focus now on annual contracts and backwardation returning to the London Metal Exchange price for the metal.The 99.9% European tin premium holds at its recent lower levelThanksgiving holiday cuts into trade in the United StatesAsian premiums not buoyed by earlier production cuts.European premiums flat on ubdued deman...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Wednesday December 4, with upward movement in the price of the galvanizing metal supported by strong turnover, while nickel futures took a divergent path over the afternoon in a 1.6% sell-off.Zinc's underlying price on the LME closed at $2,245 per tonne in the afternoon, gaining just under 2% from Tuesday...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 4.Please click...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 4.Key drivers The scrap markets were down in the past week, with supply offer prices dropping against slowing demand in the run-up to year-end holidays. Metals producers typically run down their feedstocks in December, a time usually set aside for book-squaring, banking profits and settling accounts. The alloy market...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 4.Key drivers The scrap markets were down in the past week, with supply offer prices dropping against slowing demand in the run-up to year-end holidays. Metals producers typically run down their feedstocks in December, a time usually set aside for book-squaring, banking profits and settling accounts. The alloy market...Read More
The Turkish steel producers have continued their purchases of deep-sea market scrap for January shipments, while prices became even more firm, sources said on Wednesday December 4.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising 17,000 tonnes of HMS 1&2 (95:5) at $290 per tonne cfr.Another steel mill in the Marmara region booked a European cargo, comprising 20,000 to...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 4.Key drivers The scrap markets were down in the past week, with supply offer prices dropping against slowing demand in the run-up to year-end holidays. Metals producers typically run down their feedstocks in December, a time usually set aside for book-squaring, banking profits and settling accounts. The alloy market...Read More
Market participants have been surprised by the continued rise inAsian ferrous scrap prices, especially in the face of weak downstream demand. "Some people have been caught short and now have to purchase at higher prices after selling their cargoes previously," a trader in Vietnam told Fastmarkets on Wednesday December 4.Prices in Asia have been on an upward trend from early October, boosted by lim...Read More
Non-haven markets are generally under pressure after United States President Donald Trump said he was prepared to wait until after the 2020 US presidential election for a trade deal with China.This has dented sentiment, sending gold prices and the yen higher, while US treasury yields have weakened. Asian equities are weaker, led by a 1.6% fall in the Australia's ASX 200The yuan has weakened to 7.0...Read More
Glencore has signed a six-year deal to supply cobalt hydroxide to South Korea-based electric vehicle (EV) battery maker SK Innovation, the Swiss miner-trader announced on Wednesday December 4.SK Innovation will purchase up to 30,000 tonnes of cobalt contained in hydroxide between 2020 and 2025. "This newly established partnership demonstrates the continuation of Glencore's cobalt hydroxide marketi...Read More