Reinforcing bar steel prices in the United States continue to hold firm on Wednesday November 18, but some market participants anticipate a scrap-driven price increase could be announced Fastmarkets' assessed steel rebar, fob mill US at $29.75 per hundredweight ($595 per short ton) on November 18, unchanged since September 16. US overviewThe domestic market is stable to trending up, sources said,...Read More
Brazilian flat and long steel import volumes dropped in October 2020, compared with the corresponding month a year earlier, according to figures released by the country's economy ministry earlier this month.Imports of flat steel products fell by 45.71% year-on-year to 69,930 tonnes, from 128,816 tonnes.Brazil did not import any volumes of hot-rolled coil (HRC) from Russia or China in October. Impo...Read More
Steel rebar and billet prices increased in Egypt on the week to Thursday November 19, while demand remained weak, sources told Fastmarkets.Demand for rebar and billet has been limited in Egypt since the imposition of a construction ban on May 25 and despite the ban being eased on September 29, mainly because of the lack of new...Read More
Turkish steel mills returned to the deep-sea scrap market after three days of silence to book three new cargoes at higher prices, sources told Fastmarkets on Thursday November 19.Two European cargoes and one from the Baltic Sea were traded after three days of market inactivity from the mills.One European origin cargo was booked by a steel mill in the Iskenderun region and comprised 15,000 tonnes o...Read More
Ukrainian pellet producer Ferrexpo has sold its first ever blast furnace pellet cargo on Globalore at a premium of $25 per tonne over Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, January average. The 90,000-tonne cargo of 65% Fe blast furnace pellets has a loading laycan of December 18-27. The sale marks increasing transparency in the high-quality blast furnace pellet s...Read More
Seaborne iron ore prices were up slightly on Wednesday November 18 after authorities removed emergency pollution controls in the steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $126.34 per tonne, up $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.58 per tonne, up $0.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $1...Read More
Iron ore futures price reached the yearly high on the Dalian Commodity Exchange on Thursday November 19 and physical prices also increased, sources told Fastmarkets, with the decrease in steel inventory supporting, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.89 per tonne, up $1.55 per tonne62% Fe low-alumina fines, cfr Qingdao: $128.36 per tonne, up $1.78 per tonne58...Read More
Seaborne premium hard coking coal fob and cfr prices have diverged further on Thursday November 19 following recent transactions in the respective markets, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $97.58 per tonne, down $1.29 per tonnePremium hard coking coal, cfr Jingtang: $159.78 per tonne, up $3.55 per tonneHard coking coal, fob DBCT: $92.78 per tonne, up $1 per tonne...Read More
The world's largest trade deal, the Regional Comprehensive Economic Partnership (RCEP), could result in India losing its share of the Asian steel market, sources told Fastmarkets this week."It is likely that steel mills in Southeast Asia will benefit from the RCEP trade deal, and India will lose market share in Asia," a Chinese trader told Fastmarkets.The RCEP was signed by China, the 10 member co...Read More
Brazilian miner Vale has started emergency protocols to evacuate residents near the Norte/Laranjeiras dam of the Brucutu iron ore mine in Brazil's southeastern state of Minas Gerais."The rise in the emergency level reflects a conservative approach by Vale, although no relevant changes have been observed regarding the safety factors of the structure," the miner said on Wednesday November 18.It is p...Read More
Lithium needs a transparent market where demand and supply meet to foster the growth of the sector, attendees heard during the annual Lithium in the South America conference organised by Panorama Minero on Wednesday November 18.The event that normally takes place in Buenos Aires was hosted virtually this year due to Covid-19 related restrictions. Interest around bringing price transparency to the...Read More
China's domestic rebar prices resumed their uptrend on Thursday November 19 on falling stock levels and rising futures.DomesticEastern China (Shanghai): 4,150-4,180 yuan ($633-637) per tonne, up by 20 yuan per tonneSpot markets in the country had 4.88 million tonnes of rebar on Thursday, down by 577,000 tonnes from a week earlier, according to a local industry information provider.This, coupled wi...Read More
The United Kingdom's new green energy plan could stimulate demand for a range of industrial minerals and minor metals.UK Prime Minister Boris Johnson on November 18 laid out a 10-point plan to invest in renewable resources. As part of the plan, the government will invest ?12 billion ($15.88 billion), and it suggested this spending could spur at least three times...Read More
Strategic & Precious Metals Processing (SPMP) has named Joel Montgomery as its new chief executive with effect from November 1, Fastmarkets learned.Montgomery was chief operating officer and executive committee member at SPMP since September 2018 and has been acting CEO since February 2020.Montgomery spent 12 years with Vale copper nickel operations in Canada where he held various senior oper...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...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...Read More
Fastmarkets has partnered with CME Group to launch a cash-settled cobalt contract to be settled against Fastmarkets' daily benchmark cobalt price assessment. The new contract will use an average of the midpoint Fastmarkets' standard grade, in-whs Rotterdam price assessment and will trade under the Bloomberg ticker MB071071 from December 14.The cobalt supply chain has been joined by automotive make...Read More
Joe Biden's victory in the United States presidential election helped propel the US silicon price to its highest level in 15 months, some market participants said, but others were skeptical. Fastmarkets assessed the price for silicon, ddp US, at $1-1.03 per lb on Thursday November 12, narrowing upward by 2 cents from $0.98-1.03 per lb on November 5 - two days before Biden was declared the presiden...Read More
China's domestic stainless steel prices decreased sharply over the week ended Wednesday November 18, sending them to their lowest in nearly four months amid pressure on mills to sell.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,100-14,300 yuan ($1,998-2,181) per tonne, down by 600-1,100 yuan per tonne from a week earlier. On average, prices are at their lowest since l...Read More
US copper scrap exporters are waiting to see how China's new regulations affect the flow of scrap metal to the Asian country, which could have a significant impact on domestic copper scrap prices."China is the big unknown," a non-ferrous scrap seller said. "If China starts buying again, we will see a big impact on domestic prices, but we will not see the impact before December."China launched a ne...Read More