Beam prices in the United States' domestic and import markets are steady for now but industry sources are eyeing softening market conditions moving forward. Fastmarkets' assessment for domestic W8- x 8-in beams were flat at $41.75 per hundredweight ($835 per short ton) on Thursday January 24. At the same time, imported beams held at $780-820 per ton ($39-41 per cwt) delivered duty paid p...Read More
Domestic prices for rebar in Poland have moved further down over the week due to slow trading, sources told Fastmarkets on January 25.Additionally, Polish steelmakers have settled monthly contracts for scrap at a lower price - a decrease of about 60 zloty ($16) per tonne - which has had an additional negative impact on rebar prices, market participants told Fastmarkets.As a result, Fastmarkets' pr...Read More
Restocking by rebar producers, coupled with increased buying by traders, has pushed Indian domestic secondary steel billet prices upward by at least 1,000 rupees ($14) per tonne over the past week, Fastmarkets heard on Friday January 25.The Indian domestic secondary billet price assessed by Fastmarkets was 31,900-32,100 rupees ($449-452) per tonne ex-mill on Friday, up from 30,900-31,100 rupees pe...Read More
Coated steel prices in Turkey were stable in the week ended Friday January 25, with some producers closing their sales books because they were planning to increase prices.The producers wanted to wait and see whether price increases for hot-rolled coil (HRC) would be accepted by the market, before announcing new prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for Turkish domes...Read More
Most flat steel import prices decreased in South America during the week ended Friday January 25, but hot-rolled coil (HRC) was boosted by higher demand and a slight recovery.Fastmarkets assessed the HRC import price in South America at $525-540 per tonne cfr on January 25, up from $520-530 per tonne a week before. This was the highest price since December 7 last year.With Chinese export prices go...Read More
Some steel coil prices in Turkey increased this week because of the high cost of scrap and other global price increases, but demand continued to be low, sources told Fastmarkets on Friday January 25.Demand has been poor in the country since August 2018, when relations between Turkey and the United States deteriorated. The Turkish lira lost value against the US dollar after US President Donald Trum...Read More
Slab export prices from Brazil remained unchanged week-on-week on Friday January 25, with low volumes booked and mills preparing to launch next months' offers.Fastmarkets' weekly assessment of Brazilian slab export prices was stable week on week at $410-460 per tonne fob on Friday, unchanged from a week earlier.Deals to Europe were last concluded around $410 per tonne fob, while in the United...Read More
Pig iron exporters in southern Brazil expect prices to stabilize after another deal to the United States was concluded this past week, Fastmarkets learned on Friday January 25.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region remained at $310-312 per tonne fob on January 25.A deal for around 35,000 tonnes of pig iron with 0.15% phosphorou...Read More
Pig iron buyers in the United States have continued purchasing materials for restocking purposes but at low prices, although further reductions were doubtful because suppliers were not ready to reduce prices further, sources told Fastmarkets on Friday January 25.Fastmarkets' import price assessment for pig iron in the US was $340-350 per tonne cfr on Friday, widening downward from $345-350 per ton...Read More
A rupture in a tailings dam at Vale's Feij??o mine in the city of Brumadinho, in the state of Minas Gerais in south-east Brazil, has flooded the company's administrative facilities and part of the nearby Vila Ferteco community. "There is no confirmation about injured people at the site," Vale said on Friday January 25. "[The company's] top priorities right now are preserving and protecting the liv...Read More
The price of shredded ferrous scrap imported into India went up this week after deals were agreed at higher prices, market participants said on Friday January 25.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $322.34 per tonne cfr Nhava Sheva on January 25, up from $318.73 per tonne cfr Nhava Sheva on January 18.Deals for shredded material were heard done at $...Read More
Turkish deep-sea scrap import prices continued to rise because of tight supply and increasing collection costs due to the heavy winter conditions, sources said on Friday January 25.A number of market participants were talking about a US deal to Turkey. The details of the transaction were not clear at the time of publication, but some sources believed that the cargo was sold at $295-298 per tonne c...Read More
The light iron steel scrap market in the United Kingdom has picked up on the low end of its current range amid steady demand from major domestic shredders in the week ended Friday January 25, the first price increase since the start of November.Fastmarkets MB's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?65-90 ($75-104) per tonne on Friday January 25. The...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Friday January 25, with continued stock moves prompting both positive and negative price action while continued optimism over US-China trade talks remains supportive of risk appetite. Despite continuing to trade below $1,900 per tonne, aluminium's total traded volumes have led the complex this week....Read More
Seaborne coking coal spot prices maintained its upward momentum on Friday January 25 with buyers snapping up cargoes following price increases earlier this week.A February-loading cargo of premium mid-vol hard coking coal was traded at around $195-196 per tonne fob Australia while a higher-ranked product in the same segment, scheduled for loading in March, change hands at $200 per tonne fob Austra...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday January 25 *Copper -$68.54 (-464.62 yuan) Aluminium -$356.08 (-2,413.67 yuan) Zinc -$82.43 (-558.76 yuan) Nickel -$244.52 (-1,657.43 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
China's domestic rebar prices moved up on Friday January 25 amid gains in the billet and futures markets, but those in the export segment remained flat on weak demand.Domestic Eastern China (Shanghai): 3,710-3,750 yuan ($546-552) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,700-3,740 yuan per tonne, up 30-40 yuan per tonneSteel billet and rebar futures both rose in comparison with a...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Low-grade manganese ore prices have clawed back some losses after three consecutive weeks of decline, with some miners holding firm on offers amid increased demand.Fastmarkets' 37% manganese ore index, fob Port Eizabeth, climbed 12 cents per dry metric tonne unit to $5.11 per dmtu on Friday January 25 a week after dropping below $5 per dmtu for the first time in nearly 14 months. Fastmarkets'...Read More
The following Fastmarkets minor metals prices changed on Friday January 25:Minor metalsCadmium MB free market min 99.99%, cents/lb: 130-136 per lb from 126-135Chromium MB free market alumino-thermic, $/tonne: $9,450-9,950 per tonne from $9,600-9,950Cobalt MB free market alloy grade, $/lb: $19.00-21.00 per...Read More