Negotiations resumed in the import pig iron market in the United States during the week to Friday August 28, but no deals have yet been concluded.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US rose to $355-360 per tonne on Friday, up by $15 from $340-345 per tonne a week before."All key buyers appeared in...Read More
The key global scrap markets improved in terms of both sentiment and prices in the week to Friday August 28, after Turkey resumed its deep-sea cargo purchases following a three-week hiatus.Turkey continues to book deep-sea cargoesUS sees liquid activity in spot export marketVietnamese buyers remain keen on bulk cargoes from US West CoastTaiwanese buyers see slowdown in price upswingIndia sentiment...Read More
The market for pig iron exports from the Commonwealth of Independent States was firm over the week to Thursday August 27 on resumed sales to China. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $335-343 per tonne on Thursday, narrowing upward from $330-343 per tonne the week before.A sale of Russia-origin pig iron was repo...Read More
The price of containerized ferrous scrap imports into India inched higher over the past week, following jitters in the market last week brought on by Turkey's scrap-buying hiatus, sources told Fastmarkets on Friday August 28.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $310.41 per tonne on Friday, inching up from $309.47 per tonne last week.Last week,...Read More
The price of grade-316 stainless steel scrap imported to Europe increased sharply on tight supply in the week to Friday August 28, sources told Fastmarkets.Fastmarkets' weekly price assessment of stainless steel scrap 316 solids import, cif main port Europe was ?,?1,420-1,440 ($1,679-1,702) per tonne on Friday, up by ?,?50 per tonne from ?,?1,370-1,390 per tonne a week earlier. One trader sai...Read More
Turkish steel producers made no deep-sea bookings on Friday August 28, after booking several cargoes earlier in the week, sources told Fastmarkets.Six deep-sea cargoes totalling around 220,000 tonnes were booked by Turkish steelmakers from various sources at strengthening prices this week. After a hiatus of more than two weeks earlier this month, the steel producers resumed their deep-sea scrap bo...Read More
Seaborne iron ore prices rose on Friday August 28 amid concerns over logistics which have been limited by precautions taken by Chinese ports against typhoon Bavi, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.37 per tonne, up $2.15 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $124.16 per tonne, up $2.47 per tonne. 58% Fe fines high-grade premium, cfr Q...Read More
There was little to no movement in seaborne coking coal prices on Friday August 28 and sources from China said they expect the cfr market to be soft for another month. Fastmarkets indices Premium hard coking coal, fob DBCT: $105.90 per tonne, down $0.02 per tonne Premium hard coking coal, cfr Jingtang: $114.71 per tonne, up $0.01 per tonne Hard coking coal, fob DBCT: $85.27 per tonne, down $0.25 p...Read More
The London Metal Exchange three-month nickel price continued to gain during the morning session on Friday August 28, trading up 1.2% from the previous day's close at $15,340 per tonne, its highest since November 2019.Often considered a proxy for the Asian markets, nickel has continued to trend higher of late on near-term demand from China's industrial sector and ongoing speculative rhetoric from t...Read More
An overview of the minor metals markets and the reasons for any price moves.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 transparency into the markets it covers and the pricing process...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...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
Several minor metals found support on Wednesday August 26 following price increases in China, with traders expecting higher replacement costs in the coming weeks despite consumers and demand not fully back in the spot market, Fastmarkets heard.The price of bismuth in Europe edged up over the assessment week, with traders that spoke to Fastmakets reporting difficulty finding available material in b...Read More
UK inter-merchant spot prices for light iron scrap were unchanged in the week to Friday August 28 due to the upcoming summer bank holiday in the country keeping trading quiet, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?95-105 ($125-138) per tonne on Friday, unchanged week on week.The market was qui...Read More
South Korean steel mills were able to secure deals for Japanese heavy scrap at largely stable prices over the past week, capitalizing on the mixed outlook in east Asian scrap markets.The direction of the Japanese market was unclear at the start of the week, sources said, with Turkey still absent from booking and a rising number of Japanese heavy scrap cargoes being offered.One Japanese trader told...Read More
Demand for ferrous scrap imports in the key Southeast Asian market of Vietnam remained firm in the week to Friday August 28.At least five cargoes totaling 20,000-30,000 tonnes of bulk Japanese H2 scrap were sold at $293, $294, $295, $296 and $298 per tonne cfr Vietnam."Many buyers who were hesitating last week finally entered the market and started buying," a Vietnamese trader told Fastmarkets on...Read More
The ongoing strong performance in India's ferro-chrome market has been a tailwind for the Japanese and South Korean markets, with suppliers pushing up their offer prices even though these had not yet fed into confirmed business, sources told Fastmarkets. Fastmarkets' fortnightly price assessment for ferro-chrome, high carbon, 57-65% Cr, cif dup Japan ticked up to $0.68-0.72 per lb on Thursday, up...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 27 that are worth another look.Domestic prices for hot-rolled coil in Northern Europe moved further up day on day on Thursday August 27, sources told Fastmarkets.Aluminium producers have begun their...Read More
Three-month prices for base metals on the London Metal Exchange were mostly flat at the close of trading on Thursday August 27, with investor sentiment jittery after US Federal Reserve chair Jerome Powell announced a greater focus on job security in Thursday's meeting, while tin futures performed best in high-volume trading.Powell highlighted targets for an average inflation rate of 2% over time,...Read More