Prices for inter-merchant light iron scrap in the UK market were higher over the week to Friday November 20, adding to gains made the week before amid strong European export markets to Turkey and the Indian subcontinent, sources told Fastmarkets.The British light iron market was likely, along with monthly delivery settlements to domestic consumers in December, to climb more firmly in the near term...Read More
Turkish steel mills completed the week with the purchase of an additional deep-sea scrap market cargo at higher prices, sources told Fastmarkets on Friday November 20.The mills stepped back into the market on the final day of the week to purchase a UK cargo comprising 35,000 tonnes of shredded at $340 per tonne, booked by a steel mill in the Iskenderun region.This compared with the most recent UK...Read More
The price of shredded steel scrap imported into India and Pakistan jumped on Friday November 20, with available material in short supply and a strong Turkish market, sources told Fastmarkets.IndiaFastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $355.76 per tonne on Friday, up from $337.41 per tonne one week earlier.A deal concluded earlier in the week saw...Read More
Prices for pig iron exported from the Commonwealth of Independent States (CIS) pushed up again in the week to Thursday November 19 on new sales.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $375-390 per tonne on Thursday, up from $370-374 per tonne a week earlier.Early this week, a sale of Ukraine-origin pig iron was...Read More
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses showed significant divergences in the week to Friday November 20, with copper slumping by 18% and tin surging by 10%.Copper stocks were at their lowest since Fastmarkets began to track SHFE copper inventories in 2015, according to Fastmarkets analyst Boris Mikanikrezai.On a week-on-week basis, copper stocks in Sha...Read More
Seaborne premium hard coking coal prices in both fob DBCT and cfr Jingtang markets edged up on a daily basis on Friday November 20 although the ongoing restriction from China on Australian coal imports has caused a widening differential between the prices since late October. Fastmarkets indices Premium hard coking coal, fob DBCT: $98.40 per tonne, up $0.82 per tonne Premium hard coking coal, cfr J...Read More
Seaborne iron ore prices rose on Friday November 20 due to a rise in steel product prices, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $128.83 per tonne, up $0.94 per tonne62% Fe low-alumina fines, cfr Qingdao: $129.29 per tonne, up $0.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $118.69 per tonne, up $0.99 per tonne65% Fe Brazil-origin fines, cfr...Read More
Base metals prices on the London Metal Exchange all started Friday November 20 higher on hopes of future infrastructure spending and despite the fact that US Treasury Secretary Steven Mnuchin said the Federal Reserve would not to extend its emergency lending programs to businesses past the end of 2020.Copper's three-month price, for example, was up 1% to $7,164 per tonne from Thursday's closing pr...Read More
Eastern China's rebar prices strengthened further on Friday November 20 amid rising futures, and ended the week 130 yuan per tonne higher, raising the interest of mills in the country's northern region.DomesticEastern China (Shanghai): 4,190-4,220 yuan ($631-635) per tonne, up by 40 yuan per tonneNorthern China (Beijing) weekly assessment: 3,850-3,900 yuan per tonne, down by 60-80 yuan per tonnePr...Read More
The base metals were generally upbeat this morning, Friday November 20, supported by demand expectations and a weaker dollar. Metals unfazed by US Treasury Secretary Steven Mnuchin's call not to extend emergency lending programs to businessesEuropean Union still struggling to pass its ?,?1.18 billion ($1.40 billion) coronavirus rescue packageBase metals Three-month base metals prices on the London...Read More
Key data from Fastmarkets' pricing session on Friday November 20.Key drivers Transacted volumes were low in the daily pricing session, continuing a recent theme that was a result of the focus on annual contract discussions for both metal and hydroxide. Three sources that they had concluded some contracts, but others said...Read More
An overview of the aerospace materials markets and the latest price moves.Charlotte Radford and Ewa Manthey in London, Susan Zou, Amy Lv...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
The cobalt alloy 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...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...Read More
The cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide.....Read More
Secondary aluminium alloy prices continued to rise on Thursday November 19, with the spreads between the benchmark A380.1 and the less liquid A360.1 and A413.1 grades at the narrowest point since Fastmarkets began assessing these prices.Fastmarkets assessed aluminium alloy A380.1, delivered Midwest at 93-95 cents per lb on November 19, up 3.3% from 90-92 cents per lb the previous week and up ...Read More
Steelmakers in South Korea have focused on procuring steel scrap from their domestic market, along with some cut-price deals from Japan, over the past week, sources said on Friday November 20.At least three South Korean mills purchased H2 scrap from Japan at ?30,500 per tonne fob over the week - which is equivalent to around ?32,500 per tonne cfr South Korea, according to market participant...Read More
An ever-tighter supply of containers combined with low steel scrap generation in key export regions has led to another sharp increase to Bangladesh import scrap prices over the week to November 20, sources told Fastmarkets.Steel prices in Bangladesh remain flat amid an oversupply but mills that require material need to keep buying to keep their furnaces running despite the higher prices, market pa...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 19 that are worth another look.Commodity traders have long forecast that there would be consolidation in their own industry, and in some of the world's biggest centers for metals business that has already...Read More