The Turkish scrap import market was quiet on Wednesday January 2 with most market participants still on holiday, while demand for finished steel products was sluggish.After news broke of a Baltic Sea cargo being sold at $283 per tonne cfr for HMS 1&2 (80:20) on December 29, the daily scrap indices went down by around $6 per tonne...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 oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at $74 per tonne cfr China, laycan January 21-30.Vale, tender,...Read More
Physical iron ore prices were largely rangebound on Wednesday January 2 amid mixed signals after the New Year long weekend in China.MB 62% Fe Iron Ore Index: $72.07 per tonne cfr Qingdao, down $0.66 per tonne. MB 62% Fe Pilbara Blend Fines Index: $71.90 per tonne cfr Qingdao, down $0.66 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74 per tonne cfr Qingdao, down $0.12 per tonne. MB 58% Fe Prem...Read More
Seaborne coking coal prices fell on Wednesday January 2 after market participants returned to news of the suspension of operations at the Saraji coking coal mine in Queensland, Australia.The mine, operated by the BHP Mitsubishi Alliance (BMA), produced 1.1 million tonnes of coking coal in the July-September period. BMA produced a total of 7.7 million tonnes of the steelmaking raw material during t...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday January 2* Copper -$63.46 (-435.93 yuan) Aluminium -$365.78 (-2,512.79 yuan) Zinc $57.9 (397.76 yuan) Nickel $29.41 (202.04 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Wednesday January 2, pressured by a slump in Asian markets amid poor economic data while a modest recovery in US stock market futures indices did little to improve negative sentiment. Worst affected over the morning was the three-month zinc price, which fell just over 3% to trade below $2,400 per tonne and...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Fastmarkets has corrected its titanium scrap unprocessed turnings (over 0.5% max 2.0% Sn) price, which was published incorrectly on January 2, 2019 due to a reporter error. The price was originally published incorrectly at $0.85-9 per lb cif major European ports and has been corrected to $0.85-0.9 per lb cif major European ports.Fastmarkets' price book and database have been updated to reflect thi...Read More
Fastmarkets has changed the names of its benchmark in-warehouse Rotterdam cobalt price assessments on January 2, 2019. The name 'standard-grade' has replaced the name 'low-grade'. The name 'alloy-grade' has replaced the name 'high-grade'. These changes follow a market consultation on Fastmarkets MB's international cobalt price specifications completed in April 2018. All historical data relating to...Read More
All Fastmarkets minor metals free market prices are unchanged on Wednesday January 2.Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.Unless otherwise stated, all prices are per lb on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price quotation, click here.To see...Read More
Key data from the Wednesday January 2 pricing session in Europe.Key drivers The market was extremely quiet during the Christmas and New Year break, with liquidity expected to return over the following seven days. No trades were reported for either the ferro-titanium or titanium scrap markets since the...Read More
Fastmarkets is hosting a free web seminar on Tuesday January 15 at 9:30am London time to discuss recent and upcoming trends and how we price the minor metals markets.The webinar will also explain the recent changes to some of our minor metals specifications. Register here to join the webinar. Date: Tuesday January 15, 2019 Time: 9:30am London time Join our pricing team while they discuss: - R...Read More
All Fastmarkets non-ferrous UK scrap and foundry ingot prices were unchanged on Wednesday January 2.NB: prices...Read More
There will be a massive influx of copper scrap to China in the first half of this year, with market participants hurrying to secure material before the country steps up its clampdown on scrap imports in the latter half, a BMO Capital Markets analyst said. China will restrict the importing of copper scrap classified under HS code 7404000090, including category 6 copper scrap which does not require...Read More
Fastmarkets has corrected its ferrous shredded scrap Rotterdam export price, which was published incorrectly on December 21 and December 28 due to a reporter error.The price was originally published incorrectly at $376-378 per tonne fob Rotterdam and has been corrected to $276-278 per tonne fob Rotterdam. Fastmarkets price book and database have been updated to reflect this change.To provide feedb...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday January 3, with zinc, aluminium and lead up by between 0.4% and 0.7%, copper up by 0.1% at $5,880 per tonne, and nickel and tin lower by 0.8% and 0.2% respectively. Volume across the complex has been high with 11,375 lots traded as at 06.58am London time. Wednesday’s trading saw three-month...Read More
U.S. equity index futures were lower this morning. S&P 500 futures are down 26 points in pre-opening trade. Index futures are responding to weakness in Apple after the company lowered its fiscal first quarter revenue guidance to $84 billion from $91.5 billion. JP Morgan and Moness lowered their target price on the stock. Apple dropped $12.64 to $145.28 in pre-opening trade.Index futures were v...Read More
Turkey's imports of flat steel decreased by 52.69% year on year in November 2018, the Turkish Statistical Institute (TUIK) said on Monday December 31.The country imported 358,826 tonnes of flat steel, compared with 758,499 tonnes in November 2017, TUIK statistics showed. The decrease in imports was largely due to the negative sentiment prevalent in the domestic steel market since August this year,...Read More
Turkey produced 3.10 million tonnes of crude steel in November 2018, a 2.1% decrease compared with November 2017, according to the Turkish Steel Producers Association (T???oeD).In January-November 2018, crude steel production in the country was 34,429,000 tonnes, a 0.51% year-on-year rise compared with 34,256,000 tonnes produced in January-November 2017, T???oeD said last week.The country produced...Read More