Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday January 18. China The domestic ferro-chrome spot price was unmoved amid thin trading activity. Many market participants await February's tender prices, which mills are expected to release next week. Higher trade prices and increased liquidity pushed up the UG2...Read More
Jiangxi Copper has appointed Zheng Gaoqing as its new general manager after the key leadership position had been left vacant for six months, the major Chinese copper producer said on Friday January 18. Zheng is also the deputy director with Jiangxi province's state-owned Assets Supervision and Administration Commission and senior management of several provincial electronics companies. He has no pr...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Global ferrous scrap prices moved in varying directions during the working week from Monday January 14 to Friday January 18, with Turkish and Asian import prices going opposite ways.Turkish scrap import prices inched upward due to higher offer prices, while prices in Vietnam continued to weaken due to limited interest and trading. Taiwanese and Indian import prices were stable over the week.Turkey...Read More
UK ferrous scrap prices for deliveries in January have dropped by ?15-20 ($19-26) per tonne, depending on grade, due to persistent weakness in export prices to the key destination of Turkey, trade sources told Fastmarkets on Friday January 18.The move followed a uniform price drop of ?20 per tonne in December settlements, after a rollover for two consecutive months.European export prices to trad...Read More
Alloy steel scrap prices were influenced a range of factors in the week ended Friday January 18, including divergent pricing trends for key alloy components, poor demand and changing currency values.The result of this was that scrap price developments have shown mixed fortunes.Demand from mills remained poor and buying mills held the advantage in price negotiations, and this put downward pressure...Read More
The Comex copper price continued to move higher on Friday January 18 ahead of the US public holiday amid a short-covering rally. There is a public holiday in the United States for Martin Luther King Jr day on Monday. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 1.60 cents to $2.6960 per lb on Friday. "A short-covering rally in LME copper se...Read More
Growing optimism over the outlook for a trade agreement between the United States and China has led to a stronger tone across risk markets, including those for metals.Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Friday January 18. The exceptions were tin and lead, with the former down by 0.1% and the latter unchanged. The rest were up by b...Read More
Key data from the Friday January 18 pricing session in Europe.Key driversBenchmark cobalt prices continue to slide, with some market participants eager to sell units not committed to 2019 contracts. Wide premium for standard-grade over alloy-grade material narrows as...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Prices of imports of commercial-grade hot-rolled coil (HRC) into India in the week ended Friday Jaunary 18 widened after large shipments were booked from Iran and South Korea.Importers have confirmed bookings of commercial-grade HRC of Iranian origin at $450-455 per tonne cfr Mumbai for shipment in February, while South Korea-origin HRC priced at $520-525 per tonne cfr Chennai port was also booked...Read More
ArcelorMittal Brasil is currently designing a long-term strategic plan until 2030 with a possibility that it would include an expansion to its flat-rolling capacity in Tubar??o, local chief executive officer Benjamin Baptista said on Friday January 18.The company owns roughly 13.5 square kilometers of land in Tubar??o, the name of the unit located in Serra, a city in the southeast Brazilian state...Read More
Some steel coil prices in Turkey fell this week on continued slow demand because buyers are waiting for prices to reach a bottom, sources told Fastmarkets on Friday January 18.Demand has been poor in the country since August 2018, when relations between Turkey and the United States deteriorated, when Turkish lira lost value against the US dollar after US president Donald Trump's administratio...Read More
China's domestic rebar prices picked up slightly on Friday January 18 after strong gains in the futures market. Domestic Eastern China (Shanghai): 3,680-3,710 yuan ($543-548) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,630-3,660 yuan per tonne, up 10 yuan per tonneRebar futures rose to a two-month high of 3,636 yuan per tonne during the day, which gave spot prices some support.The g...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
China's ferrous futures maintain their strength during morning trading on Friday January 18, with the steel and coke contracts leading the charge.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,614 yuan ($534) per tonne, up 22 yuan per tonne May hot rolled coil: 3,504 yuan per tonne, up 12 yuan per tonne Dalian Commodity Exchange May iron ore: 524.50 yuan per tonne,...Read More
Global ferrous scrap prices moved in varying directions during the working week from Monday January 14 to Friday January 18, with Turkish and Asian import prices going opposite ways.Turkish scrap import prices inched upward due to higher offer prices, while prices in Vietnam continued to weaken due to limited interest and trading. Taiwanese and Indian import prices were stable over the week.Turkey...Read More
Pig iron buyers in the United States have resumed their purchases of material but at lower prices, sources told Fastmarkets on Friday January 18.Fastmarkets' import price assessment for pig iron in the US fell to $345-350 per tonne cfr on Friday, from $350-360 per tonne cfr a week earlier.Ukraine-origin pig iron was bought at $345-350 per tonne cfr. That was a drop from $365 per tonne cfr, the pri...Read More
UK ferrous scrap prices for deliveries in January have dropped by ?15-20 ($19-26) per tonne, depending on grade, due to persistent weakness in export prices to the key destination of Turkey, trade sources told Fastmarkets on Friday January 18.The move followed a uniform price drop of ?20 per tonne in December settlements, after a rollover for two consecutive months.European export prices to trad...Read More
Sentiment in the export billet market in the Commonwealth of Independent States (CIS) started to improve through the week ended Friday January 18, with mills turning more bullish amid reduced availability of February-rolling material.Some producers had sold significant volumes of billet in the preceding weeks, while some others were not officially offering any material.With less material available...Read More