Pig iron exporters in southern Brazil cut their offers in the week to Friday December 7, due to low global demand for high-phosphorous pig iron, while suppliers in the north of the country were sold out and stayed out of the market.Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region was $345-350 per tonne fob on Friday December 7, down from $35...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Friday December 7, supported by an uptick in equity indices while a softer US dollar index helped most three-month prices reverse Thursday's losses.Despite low volumes in LME trading, with aluminium's 11,723 lots topping the complex, strong afternoon trading resulted in intraday highs for aluminium,...Read More
Scrap prices continued to fall across all major markets except India during the week to Friday December 7.Demand from Turkish steel mills was sluggish this week, with only one deep-sea cargo traded, while a lack of demand in the Asian region pushed prices lower.But imported scrap prices in India increased this week because of stronger demand.Turkey importsTurkish steel producers made only one deep...Read More
Imported steel prices in South America continued to slide this week following the downtrend in China, but rebounded slightly as the weekend approached.Fastmarkets' weekly price assessment for hot-rolled coil imported into South America was $510-515 per tonne cfr on Friday December 7, the fourth consecutive weekly decline - down from $525-535 per tonne on November 30 and $540-550 per...Read More
The latest metal markets news and price moves to start the North American day on Friday December 7. Base metals prices on the London Metal Exchange were mostly higher during morning trading, with copper topping complex gains amid a weaker dollar and resurgent trade tensions between the United States and China. Climbing just under 2% over the morning, copper...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday December 7.Base metals prices traded on the Shanghai Futures Exchange exhibited mixed movements during Asian morning trading on Friday, with concerns over trade tensions between China and the United States continuing to dampen sentiment.Check Fastmarkets MB's live futures report here.Of...Read More
Fastmarkets MB reviews the major stories that have affected the steel market during the week ended Friday December 7.Raw MaterialsIron ore producer Vale will use a 65% Fe iron ore index to price its pellets next year, moving away from using a 62% Fe iron ore index as the base price for such cargoes, executive director Peter Poppinga said.The world's largest iron ore miner also hailed the launch of...Read More
Fastmarkets rounds up some of the key news and price moves across the global metals markets this week.Base metalsEuropean lead producer Recylex has opened talks with the debtors of its Weser Metall division after leveraged investments at the smelter there failed to result in expected production gains.Refining charges (RC) for blister copper imported into China dropped for the fifth consecutive mon...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Friday December 7, supported by an uptick in equity indices while a softer US dollar index helped most three-month prices reverse Thursday's losses.Despite low volumes in LME trading, with aluminium's 11,723 lots topping the complex, strong afternoon trading resulted in intraday highs for aluminium,...Read More
Seaborne iron ore prices were rangebound on Friday December 7 with low-grade material trading more actively than high grades.MB 62% Fe Iron Ore Index: $66.51 per tonne cfr Qingdao, down $0.08 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.78 per tonne cfr Qingdao, down $0.08 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $70.32 per tonne cfr Qingdao, up $0.19 per tonne. MB 58% Fe Premium In...Read More
The lull in the seaborne coking coal market was broken on Friday December 7, with two transactions taking place during the day. A premium mid-vol hard coking coal changed hands at $220 per tonne fob Australia while a similar cargo in the same category traded at $206 per tonne cfr China, sources told Fastmarkets. Both cargoes are loading in January.Premium hard coking coal cargoes for Jan...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday December 7.China The domestic ferro-chrome spot price slid after some sellers lowered prices to book sales and generate cash before year-end, but buying interest from China's domestic stainless steel mills was thin. The imported charge chrome market was quiet. Some sellers had just compl...Read More
The United States Treasury must maintain its sanctions on companies associated with Oleg Deripaska until he relinquishes control of both EN+ and Rusal and receives no benefit from them, a senior US senator said. Robert Menendez, a member of the Democratic Party and the senior US senator from New Jersey, said in a letter to Treasury Secretary Steven Mnuchin that efforts to remove sanctions without...Read More
Fastmarkets rounds up some of the key news and price moves across the global metals markets this week.Base metalsEuropean lead producer Recylex has opened talks with the debtors of its Weser Metall division after leveraged investments at the smelter there failed to result in expected production gains.Refining charges (RC) for blister copper imported into China dropped for the fifth consecutive mon...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Refining charges (RC) for blister copper imported into China dropped for the fifth consecutive month amid uncertainty over overseas supply and lower spot interest during annual negotiations.November's RC for 98-99% blister copper stood at $160-180 per tonne, with deals and offers reported within the range, Fastmarkets assessed. This compares with $170-185 per tonne a month earlier. Lackluster spot...Read More
The latest metal markets news and price moves to start the North American day on Friday December 7. Base metals prices on the London Metal Exchange were mostly higher during morning trading, with copper topping complex gains amid a weaker dollar and resurgent trade tensions between the United States and China. Climbing just under 2% over the morning, copper...Read More
European lead producer Recylex has opened talks with the debtors of its Weser Metall division after leveraged investments at the smelter there failed to result in expected production gains. "The group anticipates that its German perimeter will not be able to reach its financial targets at December 31, 2018," the company said on Wednesday December 5. Weser-Metall GmBH, a wholly-owned German divisio...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday December 7, with copper topping complex gain amid a weaker dollar and resurgent trade tensions between the United States and China. Climbing just under 2% over the morning, copper futures made an approach back toward $6,200 per tonne after a sharp sell-off on Thursday afternoon resulted in the metal...Read More