China's domestic rebar prices stopped rising on Tuesday January 5 on expectations of a drop in demand. DomesticEastern China (Shanghai): 4,510-4,530 yuan ($697-700) per tonne, unchangedEnd-user demand for rebar is decreasing gradually due to falling temperatures, which halted the upward trend in the spot market, though futures edged up during the day. Restocking demand was absent from the market,...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 5 that are worth another look.Russia's government has done as was expected and has approved an increase in the export duty to be applied to ferrous scrap for the next six months.London Metal Exchange...Read More
Steel scrap prices in Mexico resumed an upward trend in the week ended Friday January 1, with many consumers accepting higher prices for scrap in the final days of 2020 when struggling to secure supply.At least two steel producers in Mexico increased their scrap purchase prices because it has been difficult to secure material, due to the strong competition.In mid-December, tough competition betwee...Read More
Turkish steel mills remained quiet in the deep-sea scrap markets on the second working day of the week, while the market was generally slow during the new year holidays, sources said on Tuesday January 5.Market participants believed that the mills in Turkey would be out of the market until next week, when they are expected to start their purchases for February-March cargoes.Turkish steelmakers hav...Read More
The export market for steel billet originating in the Commonwealth of Independent States (CIS) has remained quiet this week with most producers still out of the market for holidays, although sentiment remained upbeat, sources told Fastmarkets on Tuesday January 5.Most CIS mills were out of the market for new year and Christmas holidays and were expected to come back next week, sources said.There a...Read More
Steel rebar and billet prices in the United Arab Emirates increased this week because of higher offers and assessments, but market activity was yet to resume after the end-of-year period, sources said on Tuesday January 5. Domestic rebar The country's steel producers sold rebar at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works the week before for orders to be produced in January and have clos...Read More
Brazil's iron ore exports increased by a third in December compared with a year earlier, according to statistics from the country's economy ministry.It shipped 33.17 million tonnes of the steelmaking raw material last month, compared with 24.99 million tonnes in December 2019.Strong demand for steel in in China has...Read More
China aims to diversify its iron ore supply sources and strengthen its bargaining power in purchasing, according to the country's Ministry of Industry & Information Technology (MIIT).Seeking feedback on a steel masterplan that will form part of the country's 14th Five-Year Plan, MIIT said in a document published on Thursday December 31, that one of its goals was to strengthen the iron ore res...Read More
Chinese steelmakers have wasted no time in booking ferrous scrap from abroad following a change in the country's import rules for the steelmaking raw material, with purchases of several cargoes from Japan agreed in the last few days.A notice released by the Chinese Ministry of Ecology & Environment late on December 31 formally confirmed the relaxation of steel scrap import regulations for material...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 5 that are worth another look.Russia's government has done as was expected and has approved an increase in the export duty to be applied to ferrous scrap for the next six months.London Metal Exchange...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 5.Please click...Read More
Steel scrap prices in Mexico resumed an upward trend in the week ended Friday January 1, with many consumers accepting higher prices for scrap in the final days of 2020 when struggling to secure supply.At least two steel producers in Mexico increased their scrap purchase prices because it has been difficult to secure material, due to the strong competition.In mid-December, tough competition betwee...Read More
Three-month LME copper and tin prices continued to rise on Tuesday January 5, with the red metal coming close to its 2020 high, on a day when the rest of the base metals all saw increases, supported by a low US Dollar Index.Copper's three-month price settled at $8,002 per tonne on Tuesday at the 5pm close, just a few dollars short of the metal's 2020 high of $8,028 per tonne reached on Decemb...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 5 that are worth another look.Russia's government has done as was expected and has approved an increase in the export duty to be applied to ferrous scrap for the next six months.London Metal Exchange...Read More
London Metal Exchange spreads are usually a key driver for duty-unpaid aluminium premiums in Europe but this was not the case toward the end of 2020, leaving market participants wondering what will be main driver in 2021. Since late November, the Rotterdam duty-unpaid premium has been steadily rising despite spreads trading at levels that would usually bring it down. Fastmarkets assessed the ...Read More
Three-month LME copper and tin prices continued to rise on Tuesday January 5, with the red metal coming close to its 2020 high, on a day when the rest of the base metals all saw increases, supported by a low US Dollar Index.Copper's three-month price settled at $8,002 per tonne on Tuesday at the 5pm close, just a few dollars short of the metal's 2020 high of $8,028 per tonne reached on Decemb...Read More
The cfr premium hard coking coal price jumped again on Tuesday January 5 after two transactions were sealed at higher prices.The fob market, meanwhile, remained relatively quiet, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.74 per tonne, up $0.25 per tonnePremium hard coking coal, cfr Jingtang: $207.44 per tonne, up $4.27 per tonneHard co...Read More
Iron ore prices increased on Tuesday January 5, with active trading in the seaborne and port markets supported by record high prices in coke futures, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $167.86 per tonne, up $2.57 per tonne62% Fe low-alumina fines, cfr Qingdao: $168.00 per tonne, up $2 per tonne58% Fe fines high-grade premium, cfr Qingdao:&nbs...Read More
China-based minor metals producer Vital Materials has acquired the industrial site of PPM Pure Metals at Langelsheim, Germany. Vital will operate the assets through a newly established subsidiary, Vital Pure Metal Solutions GmbH (VPMS), that will be fully integrated into Vital's global network as a platform to provide sales and recycling solutions to the global customer base, Vital told Fastmarket...Read More
An overview of the chrome ore and alloy markets on Tuesday January 5 and their latest price moves. China Tsingshan and Baosteel increased their ferro-chrome tender prices by $31 per tonne for January. Market sentiment was propelled higher after ferro-chrome producers adjusted up their offer prices. The imported ferro-chrome price surged...Read More