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
The Brazilian slab export price fell further over the past week amid an ongoing downtrend in the global markets, while the price range remained wide depending on product destination.Fastmarkets assessed the Brazilian slab export price at $430-485 per tonne fob on December 7, down from $435-495 per tonne on November 30. The high end of the range is at its lowest level since December 29, 2017.Shipme...Read More
Brazilian domestic flat steel prices decreased during November, due to steelmakers granting some discounts to distributors in an effort to regain market share while import prices dropped, sources told Fastmarkets MB.Fastmarkets assessed the price for Brazil domestic hot-rolled coil at 2,600-2,700 Reais ($669-695) per tonne ex-works on December 7, lower than 2,850-2,900 Reais per tonne on November...Read More
Indian steel mills have cut domestic hot rolled coil prices for December sales by about 2,000 rupees ($28) per tonne to discourage imports following a sharp fall in international HRC prices. Fastmarkets' price assessment for Indian domestic HRC was 44,000-44,500 rupees per tonne ex-mill on Friday December 7, a reduction of 2,000 rupees per tonne from last week's 46,000-46,500...Read More
Prices for light iron scrap in the United Kingdom have held this week, but there are mounting pressures expected to drag down the market next week, sources told Fastmarkets on Friday December 7. The light iron market is under pressure amid indications of a likely ?20 ($25.50) per tonne drop in domestic delivery settlements to UK consumers for December shipments. The UK light iron market may fall...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGI Hot-rolled coil Turkey, domestic, hot-rolled coil, offered at $530 per tonne ex-works, late December-early January production. Turkey, domestic, hot-ro...Read More
Domestic and import prices for steel coil products in Turkey were mostly stable this week with demand remaining weak, sources told Fastmarkets on Friday December 7."I believe prices will remain stable [through] December because changes will not improve demand," a source said."Europe is already in holiday mode," he added.Fastmarkets' weekly price assessment for Turkish domestic hot-rolled coil...Read More
Logistics disruptions in South Africa have not been enough to arrest the recent decline in the manganese ore price amid continued risk aversion in China, market sources are warning.A series of force majeure declarations in South Africa late last week following an accident that damaged a railway bridge are expected to delay deliveries of up to 200,000 tonnes of manganese ore from South Africa over...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday December 7:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.20-12.30 per lb from $12.30-12.40Molybdenum US canned molybdic oxide, $/Ib $12.30-12.40 per Ib from $11.90-12.10Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.40-29.60 per kg from $29.50-29.70Ferro-molybdenum US 65...Read More
Domestic Chinese and cif Asia battery-grade lithium prices were stable week on week on Thursday December 6 after consumers continued to hold back on purchases on sufficient stocks and while negotiating next year's contract prices. The Chinese battery-grade lithium carbonate price was unchanged on thin trading activity. Battery-grade lithium hydroxide market stabilized after falling the previo...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
Turkish steel producers managed just one deep-sea booking this week, mostly as a result of limited demand for finished steel products in both the domestic and export markets, sources said on Friday December 7.On Wednesday, a steel mill in the Marmara region booked a European cargo - comprising 20,000 tonnes of HMS 1&2 (75:25), 12,500 tonnes of HMS 1 and plate & structural (P&S) scrap, 5,000 t...Read More
The price of shredded ferrous scrap imported into India climbed this week, reflecting a series of deals done at higher prices after last week's slump, sources said on Friday December 7.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $342.78 per tonne cfr Nhava Sheva on December 7, up from $340.75 per tonne on November 30. The index fell by almost $10 per to...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
Comex copper prices rose on Friday morning in the United States in reaction to a softer dollar.The copper price for March settlement on the Comex division of the New York Mercantile Exchange increased by 0.95 cents to $2.7525 per lb. Commodities have endured a volatile week, reflecting trade worries and confusion whether the US and China will reach a long-term agreement."We view the renewed w...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
Base metal stocks on the Shanghai Futures Exchange were mostly lower week on week on Friday December 7, with copper stocks now 60% lower than the annual peak in March. Deliverable copper stocks at SHFE-approved warehouses dropped by 5% week on week, or 7,163 tonnes, to 123,879 tonnes as on Friday December 7. SHFE copper stocks have fallen by 60% from the 2018 high of 307,435 tonnes reached on...Read More
China's hot-rolled coil exporters raised offer prices on December 7 as domestic prices rebounded.DomesticEastern China (Shanghai): 3,740-3,770 yuan ($543-548) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,590-3,620 yuan per tonne, widening downward 20 yuan per tonneDomestic prices were largely stable on Friday.The small dip in Shanghai prices were due to relatively short demand, but...Read More
Cobalt prices continued to fall in the first week of December following the start of year-end destocking and greater competition for sales that first put paid to weeks of stability in mid-November. Fastmarkets assessed the low-grade cobalt price at $30.30-32 per lb, in-warehouse, on Friday December 7, down from $32-32.60 per lb at the end of November. The high-grade cobalt price se...Read More
The following Fastmarkets minor metals prices changed on Friday December 7:Minor metals Antimony MMTA standard grade II, $/tonne: $7,850-8,000 per tonne from $7,850-8,050Bismuth MB China domestic, yuan/tonne: 48,500-51,000 yuan per tonne from 50,000-52,000 yuanCadmium MB free market min 99.99%, cents/lb: 123-140 per lb from 125-140Chromium MB free market alumino-thermic, $/tonne: $10,200-10,5...Read More