Turkish steel producers continued to book deep-sea scrap for December deliveries with slightly lower prices on Thursday November 8.A steel mill in the Marmara region booked a US cargo, comprising 33,000 tonnes of HMS 1&2 (80:20) at $338 per tonne, 5,000 tonnes of shredded at $343 per tonne and 2,000 tonnes of bonus at $348 per tonne cfr, late on November 7.On Thursday, another...Read More
Comex copper prices fell to a one-week low on Thursday morning in the US amid a stronger dollar and a lack of fresh catalysts.The copper price for December settlement on the Comex division of the New York Mercantile Exchange declined 2.75 cents to $2.7270 per lb. Earlier in intraday trading, the contract touched a low of $2.7030 per lb, the weakest...Read More
Cobalt demand from the consumer electronics industry will continue to grow, with no shift away from lithium-cobalt-oxide (LCO) batteries on the cards, according to battery manufacturer ATL's procurement director, Xu Shihui. "The price of cobalt has been fluctuating and there have been questions about whether cobalt can be substituted by nickel, but for consumer electronics the direction is LCO bat...Read More
First Cobalt Corp has started testing cobalt hydroxide material as feedstock for its refinery in Ontario, Canada, with the goal of producing cobalt sulfate or metallic cobalt products for sale into the North American market. The company has retained inspection and certification firm SGS Canada to test the suitability of different cobalt feed material using the refinery's current flowsheet and is a...Read More
Chinese nickel demand from stainless steel and battery materials producers will continue to rise in near future, although extensive investments in nickel projects will cap higher nickel prices, Fastmarkets learned from Antaike's Nickel & Cobalt Conference in Xiamen on November 6-8. Much of the apparent Chinese demand for nickel over the next couple of years will come from the country's s...Read More
China's finished steel exports were up by more than 10% year on year in October, but fell when compared with September's volumes, according to preliminary Chinese customs data published on Thursday November 8.The country exported 5.5 million tonnes of finished steel in last month, up 10.4% from the 4.98 million tonnes shipped out in October 2017, according to the customs data. October shipmen...Read More
China's hot-rolled coil prices tumbled to nearly a seven-month low on Thursday November 8, with participants remaining bearish about the market despite declining inventory levels.DomesticEastern China (Shanghai): 3,920-3,940 yuan ($566-569) per tonne, down 70-80 yuan per tonneNorthern China (Tianjin): 3,940-3,950 yuan per tonne, down 50 yuan per tonneHRC inventory levels nationwide fell by 166,300...Read More
China's ferrous futures fell during morning trading on Thursday November 8 after prices in most of physical markets weakened a day earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,913 yuan ($565) per tonne, down 38 yuan per tonne January hot-rolled coil: 3,657 yuan per tonne, down 41 yuan per tonne Dalian Commodity Exchange January iron ore: 512 yuan per...Read More
While US rebar prices remain stable, rising raw material costs and a tightening supply outlook in the colder months could provoke a price increase before the end of the year, according to market participants.Fastmarkets AMM's price assessment for domestic rebar held at $35-36 per hundredweight ($700-720 per short ton) fob Midwest mill on Wednesday November 7, unchanged since mid-April. Meanwh...Read More
Steel billet import prices in Egypt increased in the week to Thursday November 8, but demand for rebar was still weak in the country.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $480-490 per tonne cfr on Thursday, compared with $477-480 per tonne cfr last week.Billet producers in the Commonwealth of Independent States (CIS) increased their prices because of the hig...Read More
Turkish domestic long steel prices have continued to soften because of the strengthening of the country's lira against the US dollar over the past week, sources said on Thursday November 8.Fastmarkets' weekly price assessment for domestic rebar on Thursday was TRY3,200-3,350 ($596-624) per tonne ex-works including 18% VAT, down from last week's TRY3,300-3,450 per tonne.The domestic rebar price in...Read More
Turkish steel producers continued to book deep-sea scrap for December deliveries with slightly lower prices on Thursday November 8.A steel mill in the Marmara region booked a US cargo, comprising 33,000 tonnes of HMS 1&2 (80:20) at $338 per tonne, 5,000 tonnes of shredded at $343 per tonne and 2,000 tonnes of bonus at $348 per tonne cfr, late on November 7.On Thursday, another...Read More
Seaborne iron ore prices and premiums advanced on Thursday November 8, on continuing concerns over Australian supplies and following a rebound in China's futures market.MB 62% Fe Iron Ore Index: $76.27 per tonne cfr Qingdao, up $1 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.30 per tonne cfr Qingdao, up $1 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.90 per tonne cfr Qingdao, up $1.52...Read More
China's ferrous futures fell during morning trading on Thursday November 8 after prices in most of physical markets weakened a day earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,913 yuan ($565) per tonne, down 38 yuan per tonne January hot-rolled coil: 3,657 yuan per tonne, down 41 yuan per tonne Dalian Commodity Exchange January iron ore: 512 yuan per...Read More
Steel billet import prices in Egypt increased in the week to Thursday November 8, but demand for rebar was still weak in the country.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $480-490 per tonne cfr on Thursday, compared with $477-480 per tonne cfr last week.Billet producers in the Commonwealth of Independent States (CIS) increased their prices because of the hig...Read More
Turkish billet prices have increased over the past week, amid rising imported scrap values, but demand has remained limited due to high prices, sources said on Thursday November 8.Suppliers in the CIS region were offering billet into Turkey at around $485-490 per tonne cfr, but customers in Turkey were not bidding any higher than $475 per tonne.Fastmarkets' weekly price assessment for billet impor...Read More
China's domestic rebar prices remained on a downward trajectory on Thursday November 8 due to continued soft demand. Domestic Eastern China (Shanghai): 4,480-4,520 yuan ($647-653) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 4,350-4,400 yuan per tonne, down 20-30 yuan per tonneFutures dropped steadily in morning trade, leading to weak buying interest in the spot market. Selle...Read More
The European molybdenum markets have dropped this week amid quiet business while dealers prepared for more active trading at the Fastmarkets MB ferro-alloys conference in Lisbon, Portugal this weekend, sources said.Fastmarkets MB assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $11.80-12.00 per lb on Wednesday November 7, down from $12.00-12.15 per lb on Friday las...Read More
Asian stainless steel participants are increasingly looking to Taiwan and Indonesia as the region's new price-setters, while Chinese exporters struggle to catch up in the heated price war, participants told Fastmarkets MB.Competition among suppliers in the region has intensified in recent months amid lackluster demand, growing pessimism and the increased availability of cheap substrate triggered b...Read More
China's ferrous futures fell during morning trading on Thursday November 8 after prices in most of physical markets weakened a day earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,913 yuan ($565) per tonne, down 38 yuan per tonne January hot-rolled coil: 3,657 yuan per tonne, down 41 yuan per tonne Dalian Commodity Exchange January iron ore: 512 yuan per...Read More