Export rebar and wire rod prices from the Commonwealth of Independent States (CIS) decreased in the week to Monday January 25 amid increased competition with Turkish and Chinese suppliers, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey was $620-630 per tonne on Thursday January 21, down from $650-660 per tonne fob a week earli...Read More
Trading activity in the European market for hot-rolled coil was slow during the week to Monday January 25, with buyers avoiding making new deals due to an expected price fall, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?710.00 ($864.08) per tonne on Monday January 25, down by ?,?1.25 per tonne from ?,?711.25 per tonne o...Read More
Liberty Steel Group has completed "due diligence" on Thyssenkrupp Steel Europe and submitted a "firmed up" bid for its acquisition based on the results, the UK-based steel company told Fastmarkets on Monday January 25."On Monday January 25, 2021, Liberty Steel submitted a firmed-up bid for Thyssenkrupp Steel Europe based on the results of the comprehensive due diligence process including multiple...Read More
The domestic rebar market in Russia's Central Federal District around Moscow declined slightly the week to Monday January 25 amid slow market activity due to seasonal factors and the possibility of an export duty, several sources told Fastmarkets. Construction activity in Russia, the main market for rebar, typically slows in late autumn and early winter due to poor weather conditions and does not...Read More
Turkish steel producers continued to hold back from deep-sea scrap purchases at the start of this week amid limited demand for rebar and billet, market participants said on Monday January 25.The mills in Turkey have been absent in the deep-sea markets since last week. The most recent transaction was heard on Wednesday January 20 at $440 per tonne cfr on HMS 1&2 (80:20) basis.That transaction pushe...Read More
Turkish domestic scrap prices have fallen sharply over the past week, following the downward trend seen in the deep-sea scrap import markets, sources said on Monday January 25.Steelmakers in Turkey held back from purchasing deep-sea scrap late last week, due to poor sales of finished long steel and billet.The most recent deep-sea transaction was heard on Wednesday January 20 at $440 per tonne cfr...Read More
Seaborne premium fob index skyrocketed on Monday January 25 following two higher transactions during the day, while the premium cfr price increased on latest transactions also, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $145.95 per tonne, up $11.96 per tonnePremium hard coking coal, cfr Jingtang: $212.95 per tonne, up $3.74 per tonneHard coking coal, fob DBCT: $107.78 per...Read More
The Singapore Exchange's (SGX) 65% Fe iron ore derivatives contract - which is settled against Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao - set a new record for traded volumes at 6.19 million tonnes so far in January, SGX data - published on Monday January 25 - shows.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $169.16 per tonne, down $0.81 per tonne62...Read More
Prices for seaborne iron ore concentrate increased again in the week ended Friday January 22, supported by tight supply and strong demand for high-grade products amid steelmaking restrictions to cut emissions.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $194.69 per tonne, up $1.35 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $229.26 per tonne, down $0.02 per tonne.Key driver...Read More
China's hot-rolled coil prices weakened on Monday January 25, with trading activity slowing down ahead of the Chinese New Year.DomesticEastern China (Shanghai): 4,430-4,470 yuan ($684-690) per tonne, down 10-30 yuan per tonneA Shanghai-based trader said most sellers in the city were offering cargoes at around 4,430 yuan per tonne in the morning, before raising these offers to as high as 4,470 yuan...Read More
Tin and lead's forward prices on the London Metal Exchange had the biggest gains of Monday January 25, with the prospect of a Covid-19 economic stimulus being passed in the United States overshadowing concerns over the extension of lockdowns elsewhere in the world. Tin's three-month price rose by 1.8% on Monday at 9am to $22,360 per tonne, from Friday's closing price of $21,960 per tonne. The pric...Read More
Traxys will market the share of cobalt metal that Wheaton Precious Metals receives from its streaming agreement with Brazil-based miner Vale, Fastmarkets understands.The Traxys deal became effective this month. Canada-based Wheaton is entitled to receive finished cobalt equivalent to 42.4% of future production from Vale's Voisey's Bay mine in the eastern Canadian province of Labrador, under a stre...Read More
Delays to material shipments from China and tightening availability in Europe continued to push manganese flake prices to new highs in the week to Friday January 22.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam climbed 1.6% to $2,800-2,940 per tonne on Friday January 22, up from $2,750-2,900 per tonne mid-week when prices had moved up to that lev...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
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 applies.Fastmarkets...Read More
Severe logistical hurdles continue to affect the main seaborne shipping routes out of China, with prohibitively high container freight costs persisting and recent land transport issues adding to the congestion and delays at ports.The continuing shortage of container and vessel space at Chinese main ports has not eased off so far in January, with market participants active in minerals and metals tr...Read More
Key data from Fastmarkets' pricing session in London on Friday January 22.Key drivers Antimony prices in Europe continued to rally on support from price increases in China - which controls the vast majority of the global supply - and added to shipping delays and the antimony ore shortage. Since 2021 started, the metal has already risen by 18.7% for max...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 22.United StatesThe US manganese alloys markets continued their uptrend this week while thin available inventory and renewed demand strength continue to drive price strength. Lagging US imports and global production cutbacks have been credited with creating the present shortage of material o...Read More
European traders of manganese alloys have been busy in the past couple of weeks, boosting prices of silico-manganese by almost 20% and of high-carbon ferro-manganese by 10% ahead of expected renewed consumer demand in February, according to trade sources and available industry data. Traders have been gearing up for increased consumer demand since December when European steelmakers saw a surprising...Read More
Key data from the Friday January 22 pricing session in London. Key drivers Prices for ferro-molybdenum and molybdic oxide make small gains after bottoming out midweek. Oxide prices briefly dipped below $10 per lb earlier in the week, triggering renewed buyer interest....Read More