Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased again over the past week, with some mills continuing to raise their offers amid bullish sentiment and a stronger domestic market.Cold-rolled coilFastmarkets MB's weekly export price assessment for Chinese SPCC 1.0mm CRC was $545-555 per tonne fob on Tuesday February 26, up $5 per tonne from $540-550 per...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...Read More
Russia may impose a six-month ban on exports of ferrous scrap material beginning in May after a request was filed by Russian pipemakers with the country's ministry of economic development.The Russian Foundation for Development of the Tube Industry (FRTP) brings together the country's largest pipemakers, including TMK, OMK and Chelpipe. The group began its campaign for a ban on ferrous scrap export...Read More
From Tuesday February 26, Fastmarkets will update the normalization coefficients of the Turkey and Rotterdam ferrous scrap indices once per month instead of once per quarter. The indices to which this proposed change relates are the HMS 1&2 (80:20), Northern Europe-origin material, cfr Turkey index; the HMS 1&2 (80:20), USA-origin material, cfr Turkey index; and the HMS 1&2 (80:20), Nort...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62%...Read More
Iron ore prices continued to retreat on Tuesday February 26 with Chinese steelmakers still intent on reducing input costs due to no improvements in terms of output profitability.MB 62% Fe Iron Ore Index: $83.75 per tonne cfr Qingdao, down $1.09 per tonne. MB 62% Fe Pilbara Blend Fines Index: $83.15 per tonne cfr Qingdao, down $1.09 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $85.49 per tonne...Read More
Prices in the seaborne coking coal spot market remained supported on Tuesday February 26 with sellers not in a hurry to issue firm offers just yet."The port market has been doing well with prices moving strength to strength. This will rub off on the seaborne market too," a Chinese trading source said.At the Port of Jingtang in Tangshan, Hebei province, some 30,000 tonnes of a lower-ranked premium...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.The Canadian Dollar was virtually unchanged at 76.08 cents U.S. following release of the January Consumer Price Index. Consensus was an increase of 0.2% versus a drop of 0.1% in December. Actual was an increase of 0.1%. On a year-over-year basis, consensus for the January Consumer Price I...Read More
The No. 2 copper scrap discount for China has widened notably in February mainly on increased scrap availability after a rebound in the copper price, while the industry is still lobbying with the government to avoid a total scrap ban that could happen as soon as 2021.Fastmarkets assessed the discount for birch and cliff scrap of 94-96% copper content on a cif China basis at 28-34 cents per lb this...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Monday February 25, with investor attention diverted amid a more than 2% tumble in oil futures over the afternoon, while US-China trade talks continue to act as a strong tailwind for prices. Leading the complex higher over the afternoon, the three-month tin price increased by more than 1% over the...Read More
A flurry of fresh cancellations in LME copper this month has left market participants questioning the metal's depleting exchange inventories.Declining London Metal Exchange stocks have seen copper's three-month price surge above $6,500 per tonne this morning, its highest level since July 2018. Stock movements have predominantly taken place across US locations in February, allowing t...Read More
Prices in China for imports of 37% manganese ore fell over the week ended Friday February 22, with some buyers resisting recent rises in offer prices.Low-grade ore price fallsHigh-grade ore price ticks upwardUS prices of FeMn 78% and SiMn edge upwardSiMn price in China fallsAlloy prices stable in Europe and India.Fastmarkets' index price for 37% manganese ore, cif Tianjin, fell by $0.13 per dry me...Read More
A wave of restocking by Chinese ferro-chrome producers has prompted a jump in UG2 chrome ore prices. UG2 chrome ore prices rise in China Spot domestic ferro-chrome prices edge up in China Alloy prices hold up in Japan, South Korea Alloy prices inch higher in Europe US prices stable amid inactivity.UG2 chrome ore prices jumped in China on Friday February 22 amid a wave of restocking by domestic fer...Read More
Nyrstar's non-executive director Jes??s Fernandez has resigned his post in order to represent its major shareholder Trafigura in restructuring talks, the company said today February 25.Fernandez, who is Trafigura's head of mergers and acquisitions has been a board member since April 2016."Fernandez and Trafigura have agreed with Nyrstar that it would promote clarity around that process...Read More
The Chinese antimony market remained quiet amid sparse buying interest during the week ended Friday February 22.Fastmarkets assessed the price for MMTA standard-grade II antimony, delivered duty-paid in China, at 48,500-49,500 yuan ($7,231-7,380) per tonne on February 20, unchanged since January 16.The Chinese antimony market has shown limited trading activity since downstream consumers maintained...Read More
Key data from the pricing sessions in London and Shanghai on Friday February 22.ChinaKey drivers- The Chinese silicon fob export price held steady while exporters wait for Japan's quarterly tenders in the days to come.- A lot of off-grade silicon has flowed into the spot market, but considering the quick appreciation of the yuan, most traders are keeping their offers unchanged for the time being t...Read More
The No. 2 copper scrap discount for China has widened notably in February mainly on increased scrap availability after a rebound in the copper price, while the industry is still lobbying with the government to avoid a total scrap ban that could happen as soon as 2021.Fastmarkets assessed the discount for birch and cliff scrap of 94-96% copper content on a cif China basis at 28-34 cents per lb this...Read More
The Turkish steel mills stayed out of the deep-sea scrap market on Monday February 25 and made no bookings, preferring to remain in wait-and-see mode after the recent sharp decrease in the prices, Fastmarkets heard.Following the news of a Baltic Sea cargo sold on February 22 at $307 per tonne cfr for HMS 1&2 (80:20) and $317 per tonne for bonus, prices went down by around $10 per tonne at the end...Read More
Turkish domestic scrap prices have gone down over the past week in line with the downturn in imported scrap values, sources said on Monday February 25.Fastmarkets' weekly price assessment on Monday for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,630-1,820 ($306-342) per tonne delivered, widening downward from the TRY1,680-1,820 per tonne of last week.A number of steel mills and a maj...Read More