Ukraine's largest long steel producer, ArcelorMittal Kryvyi Rih, sold almost 80% of its steel output to foreign outlets in 2018, the company said in a report published on Thursday February 7.The company's steel product sales totaled 4.5 million tonnes in 2018, of which just 22% was sold domestically, the report showed.Of the total volume, around 2.9 million tonnes were long steel products, mainly...Read More
Steel coil prices in Turkey increased again this week because of the high cost of scrap alongside other global price increases, with local demand strong because of restocking, sources told Fastmarkets on Friday February 8.Stocks of hot-rolled coil (HRC) were low in the country because buying has been weak for a long time, with prices falling. But now that prices are increasing rapidly, buyers are...Read More
Global scrap prices were likely to show further increases because of surges in iron ore prices, Fastmarkets heard during the week ended Friday February 8.Integrated steelmakers were expected to raise their offer prices for downstream steel products due to the increased costs of iron ore and pellets. They were also expected to be able to digest higher ferrous scrap prices to secure more steelmaking...Read More
European alloy steel scrap prices continued their upward trajectory this week on the back of further gains in the nickel market. Having fallen throughout the second half of 2018, nickel prices have risen largely unchecked since the turn of the year. This, in turn, has pulled up austenitic alloy scrap prices, with nickel being the primary alloy component in these grades of stainless steel. In...Read More
Export pig iron prices from Brazil have gone up due to mills being sold out until April, while iron ore costs have increased following an incident at one of Vale's mines in Brazil, Fastmarkets was told on Friday February 8.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region was $316-325 per tonne fob on February 8, increasing from $310-316 per tonne...Read More
The price of shredded ferrous scrap imported into India rose for the third consecutive week, mirroring the uptick in Turkish scrap prices, market participants said on Friday February 8.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $342.67 per tonne cfr on February 8, up by $14.26 per from $328.41 per tonne cfr Nhava Sheva on February 1.Deals heard for shr...Read More
Light iron steel scrap prices in the United Kingdom increased for the third consecutive week, tracking strengthening European export prices to Turkey and India in the week to Friday February 8.The move to higher prices is the third increase since the start of November 2018, and puts the market at a level last seen on December 8. The market was at annual peak of ?100-130 per tonne in March 2018.Fa...Read More
Turkish deep-sea scrap import prices went up on Friday February 8 following several new transactions at higher levels, sources told Fastmarkets MB. A steel mill in the Marmara region booked a US cargo comprising 4,000 tonnes of heavy melt scrap (HMS) 1&2 (90:10) and 21,000 tonnes of shredded for an average price of $335.50 per tonne cfr. Another US cargo was booked by a steel mill in the Iskenderu...Read More
Seaborne iron ore prices stayed largely flat on Friday February 8 with China's week-long public holiday coming to an end, though there was some activity in the high-grade segment.MB 62% Fe Iron Ore Index: $85.53 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $86.37 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $87.32 per tonne cfr Qingdao, unchange...Read More
Fears over a possible disruption of supply among seaborne coking coal market participants largely subsided on Friday February 8 amid improving weather conditions in North Queensland, Australia, keeping prices unchanged.Sources said berthing operations at the Dalrymple Bay Coal Terminal (DBCT) in the Australian state were set for resumption during the day following interruptions attributed to adver...Read More
Comex copper prices rallied for the third straight session on Thursday February 7 with the market growing more optimistic on the red metal's prospects through the first quarter. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 1.05 cents to $2.8470 per lb. Market activity remains stunted with Chinese participants sidelined due to the Lunar New...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday February 8:Minor metalsCadmium MB free market min 99.95%, cents/lb: 133-143 cents per lb from 127-132Cadmium MB free market min 99.99%, cents/lb: 133-143 cents...Read More
European stainless steel producers expect the definitive EU safeguarding measures to reduce the volume of imports arriving in the EU, while distributors were less convinced that these measures will be any more effective than the provisional ones that preceded them.The definitive measures, which came into effect on February 2, 2019 and will run until June 30, 2021, differ from the provisional measu...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday February 8:Aluminium scrapFloated Frag: ?,?1,060-1,105 per tonne from ?,?1,055-1,105Cast:...Read More
Asian ferrous scrap prices are poised to spring upward immediately after the Lunar New Year holidays in the region, market participants have told Fastmarkets MB."In the current market sentiment, the bullish price trend will continue because sellers of ferrous scrap will continue to hold back their cargoes even more," a trader in Southeast Asia said.This was due to widespread expectations that stee...Read More
Base metals prices on the London Metal Exchange were collectively lower at the close of trading on Thursday February 7, with low volumes and limited buying interest due to the Lunar New Year public holiday in China, while the strength of the US dollar deterred investment.Aluminium futures continued to trade against positive fundamentals in the day's trading, falling below the support level of $1,9...Read More
Comex copper prices rallied for the third straight session on Thursday February 7 with the market growing more optimistic on the red metal's prospects through the first quarter. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 1.05 cents to $2.8470 per lb. Market activity remains stunted with Chinese participants sidelined due to the Lunar New...Read More
Fastmarkets is proposing to amend its weekly London Metal Exchange warrant premiums coverage across the entire base metals asset class. As part of the proposal, Fastmarkets intends to move the publication date for its LME warrant premiums to Wednesday 3-4pm London time from Tuesdays 3-4pm currently. In addition, Fastmarkets proposes to publish a new LME warrant premiums table separate from the mai...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 7 that are worth another look.A group of lawmakers in the United States introduced legislation that would require the US Department of Defense to justify the national security basis for new tariffs under Section 232 and increase congressional oversight of that process. Producer Norsk Hydro's underlying operat...Read More