Domestic prices for flat steel in Russia's Central Federal District around Moscow were broadly stable over the past week, supported by cautiously optimistic sentiment amid rising exports and expected shortages because of maintenance at key suppliers, sources told Fastmarkets on Monday March 1. Hot-rolled sheet Trading activity in the region was subdued amid seasonally slow demand. Market participa...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow fell in the week to Monday March 1, due to seasonally slow demand and aggressive pricing by some producers, sources told Fastmarkets.Fastmarkets price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 50,000 roubles ($670) per tonne, including 20% value-added tax, on March 1, down by 4,000-...Read More
Turkey's flat steel import volumes decreased by 11.98% year on year in January 2021, according to the latest statistics from the Turkish Statistical Institute (TUIK). The country imported 637,818 tonnes of flat steel in January this year, compared with 724,601 tonnes a year ago. The main reason for decreasing imports was weak demand for imported steel in October 2020, when some of the bookings for...Read More
Turkish steel mills continued to purchase deep-sea scrap at the end of the last week as a result of securing more steel sales, market participants told Fastmarkets on Monday March 1.A steel mill in the Marmara region booked a Baltic Sea cargo at $456 per tonne cfr on HMS 1&2 (80:20) basis late on Friday February 26, but the cargo composition was not exposed by the parties.This transaction compares...Read More
Turkish domestic scrap prices have gone up over the past week because of increasing imported scrap values, market sources said on Monday March 1.Prices for steel scrap imported into Turkey continued to rise after mills in the country booked a number of cargoes from Europe, the United States and the Baltic Sea region in the past week, supported by growing demand and rising prices for rebar and bill...Read More
Seaborne premium hard coking coal prices in the fob and cfr markets diverged on Monday March 1, with buyers from China showing little interest in purchasing cargoes.Fastmarkets indicesPremium hard coking coal, fob DBCT: $127.05 per tonne, up $1.32 per tonnePremium hard coking coal, cfr Jingtang: $217.81 per tonne, down $0.74 per tonneHard coking coal, fob DBCT: $119.17 per tonne, down $0.10 per to...Read More
Iron ore prices dipped on Monday March 1, in line with finished steel prices, with sentiment potentially affected by the Chinese government's commitment to reduce emissions by cutting crude steel output in 2021, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $174.55 per tonne,down $1.23 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.96 per tonne,down $1.31 p...Read More
Prices for seaborne iron ore concentrate and pellets rose in the week ended Friday February 26 amid strong demand for steel products in China and stricter measures to cut emissions ahead of the annual meetings of policymakers in Beijing this week.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $198.94 per tonne, up $6.33 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $222.08 per...Read More
Plans to raise export offers for Chinese hot-rolled coil this week have emerged despite a weakening of domestic prices for the flat steel product in China on Monday March 1.DomesticEastern China (Shanghai): 4,820-4,840 yuan ($744-747) per tonne, down 60 yuan per tonneSeveral Shanghai-based traders said sellers in the city's spot market made price cuts on seeing the futures market weaken.The move e...Read More
China's domestic rebar prices softened on Monday March 1, though market participants expect end-user demand to pick up on positive data from the country's construction sector.DomesticEastern China (Shanghai): 4,610-4,650 yuan ($712-718) per tonne, widened downward by 10 yuan per tonneThe sub-index for new orders in the construction industry, which feeds into China's construction purchasing manager...Read More
The London Metal Exchange lead price was up 1.5% and most other base metals prices were in positive territory following month-end profit-taking on Friday, while tin's price tumbled by 5% on the morning of Monday March 1. Lead's three-month price was up at $2,083.50 per tonne on Monday at 9am, following a 4.9% slump on Friday at 5pm to $2,052.50 per tonne. The price had reached $2,185 per tonne on...Read More
Recent sharp gains in the London Metal Exchange copper price has substantially raised import costs for Chinese participants, highlighting the country's lack of pricing power, an industry body warned.China's position as the world's top copper importer has left it vulnerable to rising procurement costs amid the metal's recent price rally, an official at the China Nonferrous Metals Industry Associati...Read More
Several minor metals prices found substantial support in the week ended Friday February 26 from higher offers from China and limited stocks in Rotterdam. "Suppliers in China seem to be trying their luck at putting every price up," a European trader said. "There are not that many fundamental reasons for it, but I think they have taken note of general optimism in the commodity space and talks of a s...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade,...Read More
Key data from Fastmarkets' pricing session in London on Friday February 26. Key drivers: Falling supplies in China aggravated by a shortage of raw material have pushed antimony prices to their highest levels since 2013. Stocks in Rotterdam are at critical levels and consumers in need of material for prompt release have been forced to accept higher prices. ...Read More
Key data from Fastmarkets' pricing session in China on Friday February 26.Key drivers Higher offers from sellers who said they had limited spot material on hand, while buyers were actively making inquiries. Deals were concluded at both the low and high end of the assessed range, but some participants...Read More
Key data from Friday February 26 pricing session in Shanghai.Key drivers Pick-up in spot trading activity following the Lunar New Year holiday (February 11-17); large-volume deals were concluded at the high end of the assessed range, while some deals for smaller volumes of around...Read More
Key data from Fastmarkets' pricing session in China on Friday February 26.Key drivers China's silicon export price, underpinned by domestic market strength, rose last week with deals concluded within the new range. Offers above the assessed range continue to emerge in the market. Domestic prices for silicon grade...Read More
Mining and metals producer Assmang has ended its force majeure on its medium-carbon ferro-manganese production in South Africa, a source told Fastmarkets on Monday March 1. Assmang produces refined ferro-manganese at its Cato Ridge Alloys plant in the eastern province of KwaZulu-Natal and halted production at the start of January. The company also produces high-carbon ferro-manganese, but producti...Read More