Major Chinese steel mills raised their crude steel output slightly in early October.China Iron & Steel Association (Cisa) members produced crude steel at an average rate of 1.9874 million tonnes per day during the first 10 days of the month, up 0.13% from 1.9848 millon tonnes per day during the last 10...Read More
The latest news and price moves to start the Asian day on Thursday October 25.Base metal prices on the London Metal Exchange were collectively lower at the close of trading on Wednesday October 24, pressured by continued strength in the United States' dollar index while the three-month aluminium price broke below $2,000 per tonne for the first time since April. Read more in our live futu...Read More
The United States Department of Commerce has found that Mexican steel producer Deacero has been circumventing an existing anti-dumping duty on wire rod, according to a preliminary ruling released late last week.The company's exports of carbon and certain alloy steel wire rod, with diameters lower than 4.75mm, were found to be circumventing the existing tariff, according to the preliminary decision...Read More
Prices for hollow steel sections in the domestic European market have remained stable this week but some market participants were preparing to adjust their prices downward after a decline in feedstock prices, Fastmarkets heard on Wednesday October 24.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained stable week on week at...Read More
A Turkish steel producer booked a US deep-sea cargo earlier this week, bringing prices down on Wednesday October 24, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 33,000 tonnes of HMS 1&2 (80:20) at $331 per tonne, 5,000 tonnes of shredded at $336 per tonne and 2,000 tonnes of bonus grade at $341 per tonne cfr.This cargo was sold...Read More
Limited availability pushed iron ore prices up on Wednesday October 24 amid a bullish futures market.MB 62% Fe Iron Ore Index: $74.73 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.76 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $80 per tonne cfr Qingdao, up by $1.30 per tonne.MB 58% Fe Premium Index: $67.77 per tonne cfr...Read More
South Korea continued to purchase heavy melting scrap this week on stable demand from a major steel mill.A 20,000-tonne cargo of HMS 1&2 (80:20) quality from New Zealand was transacted at $354 per tonne cfr South Korea this week, market sources said.Demand from South Korea has been regular in recent weeks, with South Korean steel mills entering the spot market again after bellwether Turkish import...Read More
Turkey produced 27.981 million tonnes of crude steel in January-September 2018, a 0.86% increase on the 27.742 million tonnes produced in the corresponding period in 2017, according to the Turkish Steel Producers Association (T???oeD). In September, crude steel production was 2.80 million tonnes, a 5.90% year-on-year fall. The country produced 9.416 million tonnes of slab in January-September, up...Read More
Mobarakeh Steel, the largest steelmaker in the Middle East-North Africa region, does not expect the new United States sanctions to affect its production, financial activities and exports.On October 16, Mobarakeh Steel - along with a number of other Iranian companies - was added to the list of sanctioned entities by the US Office of Foreign Assets Control (OFAC)."Mobarakeh Steel Company... is used...Read More
Major Chinese steel mills raised their crude steel output slightly in early October.China Iron & Steel Association (Cisa) members produced crude steel at an average rate of 1.9874 million tonnes per day during the first 10 days of the month, up 0.13% from 1.9848 millon tonnes per day during the last 10...Read More
Key data from the Wednesday October 24 pricing session in Europe.Key drivers The downward trend in the European ferro-titanium market in October has been extended in the latest assessment, with high-volume sales to Europe from Russia dragging down prices. Sources said there is supplier resistance at $5 per kg, which is proving something of a psychological level for the market. But there is en...Read More
Molybdenum prices have bounced back in Europe this week after a mixed tender for around 500 tonnes of oxide and ferro-molybdenum was mostly settled in Asia to major consumer Posco, sources said.Fastmarkets MB assessed the price of European drummed molybdic oxide, in-warehouse Rotterdam, at $12.00-12.20 per lb on Wednesday October 24, up from $11.90-12.00 per lb on Friday last week.Fastmarkets MB a...Read More
Prices for hollow steel sections in the domestic European market have remained stable this week but some market participants were preparing to adjust their prices downward after a decline in feedstock prices, Fastmarkets heard on Wednesday October 24.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained stable week on week at...Read More
Turkey produced 27.981 million tonnes of crude steel in January-September 2018, a 0.86% increase on the 27.742 million tonnes produced in the corresponding period in 2017, according to the Turkish Steel Producers Association (T???oeD). In September, crude steel production was 2.80 million tonnes, a 5.90% year-on-year fall. The country produced 9.416 million tonnes of slab in January-September, up...Read More
Major Chinese steel mills raised their crude steel output slightly in early October.China Iron & Steel Association (Cisa) members produced crude steel at an average rate of 1.9874 million tonnes per day during the first 10 days of the month, up 0.13% from 1.9848 millon tonnes per day during the last 10...Read More
European tin premiums have surged this week on concerns about continued supply from Indonesia, while premiums in the United States and China have remained firm on reduced demand and ample supply. Rotterdam 99.9% in-warehouse premium at 5-month high US tin demand expected to slow Closed import window keeps China premiums flat.European premium bolstered by production woesIn Europe, the premium for 9...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Base metals prices on the London Metal Exchange were collectively lower at the close of trading on Wednesday October 24, pressured by continued strength in the US dollar index while the three-month aluminium price broke below $2,000 per tonne for the first time since April.Reaching an intraday low of $1,996 per tonne, the aluminium market continues to be affected by uncertainty over United States...Read More
The market for Turkish lumpy chrome ore showed signs of strong recovery late last week and, although the market appears to have stalled since then, the uptrend looks set to resume.Upward momentum started to return to the market after several weeks in which there was little reported trade.Fastmarkets MB's price assessment of Turkish lumpy chrome ore, cfr China, gained $8 to reach $230-240 per...Read More
The latest news and price moves to start the Asian day on Thursday October 25.Base metal prices on the London Metal Exchange were collectively lower at the close of trading on Wednesday October 24, pressured by continued strength in the United States' dollar index while the three-month aluminium price broke below $2,000 per tonne for the first time since April. Read more in our live futu...Read More