Hot-dipped galvanized coil prices continued to increase in Turkey's local market in the week to Thursday December 24, while demand was good because of low stock levels following a recent shortage of coated supply, when some producers had limited hot-rolled coil feedstock, sources told Fastmarkets.Domestic pricesFastmarkets' weekly price assessment for steel hot-dipped galvanized coil domestic, exw...Read More
Market participants reported healthy demand for flat steel in the Turkish market in the week to Thursday December 24 with buyers securing material ahead of expected further price increases. Hot-rolled coil producers in Turkey are offering product for April production and cold-rolled coil is being offered for late February production at the earliest. Production costs also kept increasing this week,...Read More
Offers for steel billet from the Commonwealth of Independent States remained high this week despite buying activity only really being seen in Turkey, sources told Fastmarkets on Thursday December 24.Billet offers from major Russian and Ukrainian suppliers were heard at $600-605 per tonne fob Black Sea on Thursday, up from $580-600 per tonne fob on Monday December 21.One electric-arc furnace (...Read More
Prices for imported hot-rolled and cold-rolled steel coil in the United States surged to their highest levels in more than 12 years amid speculation that scarcity will drive prices higher still in the first quarter of 2021. Import offers are selling out quickly because of "the perception of the market that the US mills are only going to be higher in February, March and April," a national distribut...Read More
The price of pig iron exports from Brazil went up again during the week to Thursday December 24 amid full order books and continued demand in the United States and local markets.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $500 per tonne on Thursday from $480-500 per tonne a week earlier.No trading activity was reported in...Read More
The pig iron import market in the United States went up again during the week to Thursday December 24 amid further restocking.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US surged to $550-560 per tonne on Thursday from $495-520 per tonne a week earlier.One deal was done for Brazil-origin material at $550 per tonne cfr by a distributor in...Read More
The price of shredded steel scrap imported jumped over the week to Thursday December 24 due to the uptrend in the international market, sources told Fastmarkets. India Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $461.63 per tonne on Thursday, up by $32.80 per tonne week on week from $428.83 per tonne one week earlier. One deal was heard this week...Read More
Turkish steel producers have continued to pay higher prices for deep-sea scrap cargoes before the end-of-year holiday season, sources said on Thursday December 24.A steel mill in the Iskenderun region booked a US cargo, comprising 27,000 tonnes of HMS 1&2 (80:20) at $473 per tonne, 5,000 tonnes of shredded at $478 per tonne and 2,000 tonnes of bonus at $483 per...Read More
The uptrend in the pig iron export market from the Commonwealth of Independent States (CIS) continued in the week to Thursday December 24, despite no trades being reported, sources told Fastmarkets.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $500-510 per tonne on Thursday, up from $475-500 per tonne a week earlier....Read More
Import scrap prices in Bangladesh has risen quickly in the past week alongside global spot prices, but buyers are growing increasingly wary, industry source told Fastmarkets on Thursday December 24. "It is a very confusing market this week, with prices all over the place and no one really sure about how things will pan out," a ferrous scrap trader in Singapore told Fastmarkets on Thursday. Offers...Read More
Iron ore prices began to rise again on Thursday December 24, sources said, supported by falling steel inventories in China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.05 per tonne, up $4.02 per tonne62% Fe low-alumina fines, cfr Qingdao: $167.30 per tonne, up $4.94 per tonne58% Fe fines high-grade premium, cfr Qingdao: $154.25 per tonne, up $2.71 per tonne65% Fe Br...Read More
The London Metal Exchange three-month aluminium, nickel and zinc prices all rose by over 1% in morning trading on Thursday December 24, with the market weighing likely deals on US coronavirus relief funds and Brexit against the renewed pandemic spread across Europe. "Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, sugg...Read More
The cfr price for seaborne premium hard coking coal edged up further on Thursday December 24, with new transactions sealed at higher prices. China's ban on Australian coal led to the decline in demand for Australian premium low-volatility hard coking coal, and premium mid-volatility hard coking coal has been sold at a higher price than premium low-vol material in the fob market, sources...Read More
China's hot-rolled coil prices regained some stability on Thursday December 24 although the market was inactive.DomesticEastern China (Shanghai): 4,800-4,820 yuan ($734-737) per tonne, up 10-20 yuan per tonneA Shanghai-based trader said that while some sellers had asked for prices as high as 4,840 yuan per tonne in the morning, no transactions were concluded until their offers fell to 4,800-4,820...Read More
China's stainless steel prices lost their upward momentum over the week ended Wednesday December 23 after nickel and stainless steel futures tumbled.The three-month nickel contract on the London Metal Exchange ended the Wednesday official session at $16,747 per tonne, down by $682 per tonne $17,429 per tonne a week earlier. The most-traded February stainless steel contract on the Shanghai Futures...Read More
Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, suggesting markets are content to consolidate while many cross currents muddy the waters. Markets seems to...Read More
Slow port operations at Durban in South Africa and limited container space are helping to keep cobalt hydroxide payables underpinned at their highest in at least two years on Thursday December 24. Spot availability of cobalt intermediates is limited due to tight container space and reduced shipping schedules over the upcoming holiday period, in a market where availability outside long-term contrac...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, in-whs Rotterdam, $/lb at 15.30-15.90 on Thursday...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 assessed Cobalt alloy...Read More
Spot cobalt metal prices in China rose on Wednesday December 23 following a sharp rally in local futures prices, while availability of spot cargoes has started to tightened after major producers held back from making offers due to a widening price gap between metal and sulfate.Fastmarkets' assessment for cobalt 99.8% Co min, ex-works China was 257,500-268,500 yuan ($39,370-41,052) per tonne on Wed...Read More