Seaborne iron ore prices fell across the board on Tuesday February 12 amid thin trading activity in the physical cargoes market, while low-grade iron ore was rangebound. MB 62% Fe Iron Ore Index: $87.65 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Pilbara Blend Fines Index: $88.49 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.08 per tonne cfr Qing...Read More
Turkish miner Eti Elektrometalurji (Etimet) has moved into the market for ultra-low ferro-chrome and refuted that this would cap the company's output of 0.10% carbon material.The Turkish miner began production of 0.015%, 0.025% and 0.030% carbon ferro-chrome this year because of the higher profits that can be made from this material instead of more common products such as 0.10% chrome ferro-chrome...Read More
The Turkish steel mills returned to silence in the deep-sea scrap markets on Tuesday February 12 after a strong buying spree over the past two weeks.Market participants believed that scrap prices were still becoming firmer, in line with the global price trend in raw materials and tightening supplies of scrap."The offers for HMS 1&2 (80:20) are going up to $335 per tonne cfr Turkey from suppliers i...Read More
Comex copper prices slipped on Tuesday morning in the United States amid a bout of technical selling despite a weakened dollar and solid jobs data. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 3 cents to $2.76 per lb."The series of higher highs and lows since the start of...Read More
Heavy highland rains in the Andean region prompted mining companies to temporarily halt some copper operations in northern Chile and southern Peru from Friday February 8, before resuming full capacity by Tuesday February 12.Codelco, the world's largest copper producer, had to suspend activities at its Chuquicamata and Ministro Hales divisions, the company said in a report on February 8. The impact...Read More
Fastmarkets discontinued its weekly premium assessments for special high grade (SHG) zinc basis in-warehouse Singapore and Malaysia on Tuesday February 12. The decision follows a month-long consultation period which did not receive any feedback. The decision is based on previous feedback that there is limited use for these premiums as reference prices, with the majority of market participants basi...Read More
Both copper and nickel prices on the London Metal Exchange were subdued during morning trading on Tuesday February 12, with broad strength in the dollar index capping gains while positive trade sentiment failed to spur buying momentum. Copper's three-month price fell to an intraday low of $6,109 per tonne this morning, with total volumes in the metal topping the complex at 4,751 lots traded by 9:4...Read More
Fastmarkets has today discontinued its weekly aluminium premium assessments for aluminium P1020A fob Singapore and aluminium P1020A fob Malaysia. The decision follows a month-long consultation period which did not receive any feedback.The decision is based on previous feedback that these markets see limited liquidity on an fob basis, with some sources noting that market participants in this region...Read More
Brazilian flat steel imports dropped by 27.48% year on year in January, while imports of long steel products dropped by 13.76% in the same comparison, according to figures released by the country's foreign trade ministry, MDIC.Shipments of flat steel products fell to 88,153 tonnes last month, compared with 121,552 tonnes in January 2018.Imports of flat steel from China amounted to 67,252 tonnes, u...Read More
Hot-rolled (HR) and cold-rolled (CR) steel sheet prices in Russia's Central Federal District around Moscow rose on reduced availability and a seasonal demand rebound in the secondary market, sources told Fastmarkets on Monday February 11. Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was at 41,200-41,600 roubles ($627-633) per tonne cpt Moscow on Monday, including 20% VA...Read More
The prices for steel billet and rebar in the United Arab Emirates increased this week on higher offers from producers, but demand was only moderate, sources told Fastmarkets on Tuesday February 12.Domestic rebarLocal rebar producers in the UAE increased their offer prices.The country's largest producer, Emirates Steel, was offering rebar to be shipped in February at 2,007 dirhams ($546) per tonne...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet Oman, export, billet,...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebar UAE, domestic (Emirates Steel), rebar, offered at 2,007 dirhams ($546) per tonne ex-works,...Read More
Dubai-based multinational Dana Group has completed the construction of new mills for the manufacture of cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) in the United Arab Emirates sheikhdom, it said on Friday February 8.Installation and commissioning of the necessary machinery is now under way. The company did not give a date for the start of production, but it expects to produce 250,0...Read More
CIS rebar and wire rod producers pushed up offer prices this week following rises in raw materials and semi-finished steel costs last week, but customer caution limited buying activity.Ukrainian and Russian rebar, for shipment in late March and April, was on offer at $475-480 per tonne fob Black Sea on Monday February 11, sources told Fastmarkets - up from $455-470 per ton...Read More
The seaborne iron ore market agreed on the logic behind the rise in prices on the first day of trading after China's return from the Lunar New Year on Monday February 11 but by day two it failed to reach an agreement on the rally's sustainability.Fastmarkets MB 62% Fe Iron Ore Index stood at $90.58 per tonne cfr China on Monday, the highest level since March 2017, with market participants re-calib...Read More
Seaborne iron ore prices fell across the board on Tuesday February 12 amid thin trading activity in the physical cargoes market, while low-grade iron ore was rangebound. MB 62% Fe Iron Ore Index: $87.65 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Pilbara Blend Fines Index: $88.49 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.08 per tonne cfr Qing...Read More
Seaborne coking coal spot prices moved in different directions on Tuesday February 12 on the back of higher bids and lower offers.On the Global Coal Platform, a cargo of unbranded materials, loading in April, changed hands at $205 per tonne fob Australia, sources said. An offer of a top Australian brand was heard at $204 per tonne cfr China during the day, down from $205.50 per tonne a day ea...Read More
The outlook for the Brazilian mining industry has become very murky following a major accident in one of Vale's mines and the consequent increased scrutiny on operations by authorities, according to analysts.After Vale, the world's largest iron ore producer, announced it would be taking40 million tonnes per year (tpy) off its output to decommission older tailings dams, local regulators c...Read More
China's ferrous futures fell across the board on Tuesday February 12, with uncertainties still lingering in various market sectors on the second day of work following the Chinese Lunar New Year holidays.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,781 yuan ($560.40) per tonne, down 28 yuan per tonneMay hot-rolled coil: 3,672 yuan per tonne, down 28 yuan...Read More