Slab prices are due to recover at any time, with production stoppages expected and an inflationary trend in the prices of raw materials used to make steel, the chief executive officer of Ternium, M??ximo Vedoya, told analysts today.Ternium has produced slab that is sold to third parties in Brazil, since buying Companhia Sider??rgica do Atl??ntico (CSA), from Thyssenkrupp. The mill, which has 5 mil...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday October 31, with few buyers seriously enquiring for deliveries. Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($608-636) per tonne delivered on Wednesday. Both assessments were unchanged over the pre...Read More
The price for rebar produced and delivered in Southern Europe fell slightly on Wednesday October 31, with some suppliers accepting lower bids to make sales but most only offering higher prices.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?510-535 ($579-608) per tonne delivered on Wednesday, from ?,?520-545 per tonne last week.Producers have been raising thei...Read More
Turkey's flat steel exports more than doubled year on year in September, up by 103.67%, with total exports in the year to the end of September up by morre than a quarter (27.88%), according to the Turkish Statistical Institute (TUIK). The increase in exports in September was due to the strong demand especially from Europe, market participants although the amount available for exports was boos...Read More
Key data from the Wednesday October 31 pricing session in Europe.Key driversTrades and assessments indicate the European ferro-titanium market continued the downtrend that began on September 12, when the market was assessed at $5.80-6.05 per kg. Ample supply of material, as well as traders looking to sell-off inventories before year-end were cited...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday October 31:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.15 per lb from $12.00-12.20Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $28.80-29.30 per kg from...Read More
Stainless steel scrap prices have become fairly stable in the United States, but could show further weakening through year-end and likely into early next year."With all the tumultuous events of the past week, we can look to the stainless steel [scrap] market for some tranquility," one US scrap dealer said, referring to the turbulence caused by the shootings in a Pittsburgh synagogue over the weeke...Read More
The United States' bulk ferrous scrap export price continued to trek upward in a fresh cargo sale to Turkey, while a drop in flows forced East Coast exporters to reverse some recent dock buying price reductions. An East Coast cargo was sold to Turkey at $334 per tonne cfr for an 80:20 mix of No1 and No2 heavy melting scrap (HMS), $339 per tonne cfr for shredded scrap and $344 per tonne cfr for bon...Read More
CME Group's Midwest busheling futures contract continues to enjoy activity on a daily basis with a modest 12-lot sale conducted transacted on Tuesday October 30.Of that, four lots (80 gross tons) are set to expire in December, while the remaining eight lots will expire in January 2019, according to the...Read More
The Supreme Court of Queensland, Australia, has dismissed rail freight operator Aurizon's legal challenge to the Queensland Competition Authority's (QCA) draft decision to limit its potential revenues for the 2017-2021 period.The draft decision entailed limiting Aurizon's maximum allowable revenue to A$3.893 billion over the four-year period - A$1 billion below the company's project...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 transactions: iron oreIron oreRio Tinto, Global Ore, 50,000 tonnes of 62.5% Fe Pilbara Blend lumps, sold at the November average of a 62% Fe index, adjusted for Fe content, plus a lump premium of $0.3390 per dry metric tonne unit, laycan November 15-24.Glob...Read More
Prices for iron ore fines weakened on Wednesday October 31 in a cautious market, while lump premiums traded higher.MB 62% Fe Iron Ore Index: $75.71 per tonne cfr Qingdao, down $1 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.74 per tonne cfr Qingdao, down $1 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $80.13 per tonne cfr Qingdao, down $0.04 per tonne. MB 58% Fe Premium Index: $67.42 pe...Read More
Chinese end users appear to still have interest for premium low-vol hard coking coal, with a cargo of such materials changing hands at a price above the previously traded level on Wednesday October 31.A trader source told Fastmarkets that the shipment was traded at just above last week's transaction price of $220 per tonne cfr China. But this deal aside, an air of caution continued to pervade in t...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 31.Base metals on the London Metal Exchange consolidated lower during morning trading on Wednesday October 31, with downward pressure emerging from broad corrections in key indices such as the S&P 500 and Dow Jones Industrial Average, while dollar strength continues to hamper investment.Here...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday October 31* Copper -$103.74 (-724.61 yuan) Aluminium -$436.45 (-3,048.53 yuan) Zinc -$47.26 (-330.08 yuan) Nickel $586.71 (4,098.08 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices at 3pm...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Wednesday October 31:Minor metalsAntimony MB Chinese free market MMTA standard grade II, yuan/tonne: 50,500-51,000 yuan per tonne from 51,000-51,500 yuanBismuth MB free market, $/lb: $3.60-4.10 per lb from $3.80-4.30Cobalt MB China domestic, yuan/tonne: 430,000-450,000 yuan per tonne from 445,000-465,000 yuanCobalt tetroxide min...Read More
The European copper cathode premium dipped on Tuesday October 30 while the cif Shanghai premium was slightly lower after a sustained import loss and wider backwardation in the London Metal Exchange spread pushed traders to the sidelines; the US premium was steady with the focus on annual negotiations. European market slips on backwardation. Shanghai cif premium slightly lower due to import a...Read More
China's crude stainless steel output increased in the first nine months of 2018 amid higher prices and healthy profit.Stainless steelmakers in the country produced 20.75 million tonnes of crude stainless steel during the period, up 8.5% from an adjusted 19.12 million tonnes from January to September in 2017, according to data released by the China Stainless Steel Council late on Monday October 29....Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 31:Aluminium scrapGroup 1 pure 99% & litho: ?1,380-1,430 per tonne from ?1,390-1,440Commercial pure cuttings: ?1,100-1,140 per tonne from ?1,100-1,150Clean HE9 extrusions: ?1,390-1,440 per tonne...Read More