The price for rebar produced and delivered in Northern Europe remained stable over the week ended Wednesday October 24, with sellers confidently predicting higher prices to come in November.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?550-570 ($631-654) per tonne on October 24, but sellers are already submitting higher offers to their customers."We've sen...Read More
Domestic prices for steel beams in Europe were stable this week, on continued good demand, although there was concern about the knock-on effects on water-borne freight of low water levels on the River Rhine, sources told Fastmarkets on Wednesday October 24.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-650 ($711-745) per ton...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
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
Traders in China are increasingly switching their attention from manganese ore to chrome ore, predicting better upside potential, market sources told Fastmarkets this week.Manganese ore has been a popular market for positioning and speculating in recent years, particularly in 2016 and 2017 when large profits were made by buying cheap manganese and squeezing stocks in ports. A smaller-scale at...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday October 24:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.20 per lb from $11.90-12.00Ferro-molybdenum...Read More
The following Fastmarkets minor metals prices changed on Wednesday October 24:Minor metalsAntimony MB free market regulus, $/tonne: $8,150-8,400 per tonne from $8,150-8,500Antimony MMTA standard grade II, $/tonne: $8,100-8,350 per tonne from $8,150-8,450Bismuth MB free market, $/lb: $3.80-4.30 per lb from $3.90-4.40Cobalt MB free market high...Read More
Ferrous scrap export prices rose on a fresh bulk cargo sold from the US East Coast to Turkey, steadying export yard buying prices and containerized shredded scrap prices while West Coast export prices face downward pressure from a slowdown in Asian demand. After a three-week lull, a Turkish steelmaker booked an East Coast cargo on Tuesday October 23 at $331 per tonne cfr for 33,000 tonnes of No1 a...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
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at $80 per tonne cfr China, laycan November 26-December 5.Corex, 170,000 tonnes of 62% Fe Pilbara Blend fines, sold at the Nove...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
Trading activity in the seaborne coking coal market was muted on Wednesday October 24, with buyers biding their time to gauge the direction of prices.A cargo of premium hard coking coal was offered at around $216 per tonne fob Australia, sources said during the day. There was no word of a transaction being concluded by the cut-off time for Fastmarkets' data collection for its indices.A buyer sourc...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
Taiwan's ferrous scrap imports dropped by 14% on the year in August, according to the territory's customs agency.The island imported 245,579 tonnes of ferrous scrap during the month, 38,931 tonnes lower than the 284,510 tonnes it took in a year...Read More
China's ferrous futures advanced across the board during morning trading on Wednesday October 24 amid relatively positive sentiment in the physical market.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,187 yuan ($603) per tonne, up 40 yuan per tonneJanuary hot rolled coil: 3,909 yuan per tonne, up 25 yuan per tonneDalian Commodity Exchange January iron ore: 528...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 24.Base metals prices on the London Metal Exchange were predominantly higher during morning trading, buoyed by a bounce in Asian stock indices while a two-month high in the US dollar index did little to offset fresh buying momentum.Despite high risk-aversion prompting a downtrend in base metals price...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday October 24 *Copper -$127.83 (-889.00 yuan) Aluminium -$430.54 (-2,994.08 yuan) Zinc -$117.26 (-815.44 yuan) Nickel $395.84 (2,752.80 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Wednesday October 24, buoyed by a bounce in Asian stock indices while a two-month high in the US dollar index did little to offset fresh buying momentum.Despite high risk-aversion prompting a downtrend in base metals prices earlier in the week, investor confidence was lifted on Wednesday morning wit...Read More
Antofagasta's copper production jumped by 15.4% in the July-September quarter, the company said on Wednesday October 24. The Chilean miner's copper production was 188,300 tonnes during July-September quarter, up by 15.4% from the April-June quarter. Copper output in the first nine months totaled 505,500 tonnes, down 4% from the corresponding period in 2017, mainly due to lower...Read More