Pig iron buyers in the United States have resumed purchasing material but at lower prices amid the weak scrap market, sources told Fastmarkets on Friday February 14.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $334-336 per tonne on Friday, down from $340-345 per tonne cfr a week before.One booking for around 50,000 tonnes of CIS-origin pig iron...Read More
The United States' aluminium scrap turnings price ticked up slightly this past week due to continued interest from exporters, sources said on Thursday February 13.Fastmarkets' assessment of the turnings clean dry high grade buying price, delivered to Midwest secondary smelters, was at 33-36 cents per lb on Thursday, widening upward by 1 cent from 33-35 cents per lb the previous week and ...Read More
Several Chinese major zinc smelters are running at reduced output to prevent the quick build-up of sulfuric acid because a logistics lockdown caused by the coronavirus outbreak has dampened the sales outlook of the zinc smelting by-product. Yuguang Gold & Lead has suspended operations at a 100,000 tonne-per-year zinc production line this week, a producer source with direct knowledge of the matter...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Copper and nickel prices ended the trading week higher on London Metal Exchange on Friday February 14 than a week ago although aluminium and zinc were depressed.The three-month nickel price reached a high of $13,345 per tonne before settling at $13,015 at the close of trading on Friday. It had closed at $12,770 per tonne on February 7.LME nickel stocks remain high at 212,094 tonnes after 2,10...Read More
Spot treatment and refining charges (TC/RCs) for copper concentrates have shot up to a 10-and-a-half-month high with market sellers scrambling to find smelters willing to take cargoes.The Fastmarkets copper concentrates TC index, cif Asia Pacific, which tracks a market mid-point, rose to $65.80 per tonne / 6.58 cents per lb on Friday February 14, up by $9.40 / 0.94 cents week on week and its highe...Read More
Colin McGibbon has been appointed chief executive officer of Soci?(C)t?(C) le Nickel (SLN), French multi-metal company Eramet's New Caledonia subsidiary, the company said on Friday February 14.He succeeds Bernard Laflamme in the role and will be tasked with overseeing the implementation of SLN's rescue plan, which aims to return Eramet's embattled operations to profitability.Safeguarding measures....Read More
Brazil's slab export prices were stable this past week, with buyers waiting on the sidelines and purchasing only small batches while they wait for a clearer direction on global steel markets.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil, was $460-480 per tonne on Friday February 14, unchanged from the previous week.The value includes the most recent deals,...Read More
Hot-rolled coil prices in the United States have again fallen below $29 per hundredweight ($580 per short ton) due to low reselling prices at service centers pressuring those domestic mills that have some weakness in their order books, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US, was calculated at $28.75 per cwt ($575 per ton) on Friday Februar...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Friday February 14 following the rise seen earlier this week, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe was ?,?479.34 ($520) per tonne on February 14, up by ?,?0.03 per tonne from ?,?479.31 per tonne on February 13 and up by ?,?7.67 per tonn...Read More
Polish domestic rebar prices moved down over the past week due expectations of a decrease in the price of scrap, market sources told Fastmarkets on Friday February 14.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, fell to 2,050-2,150 zloty ($524-549) per tonne on February 14, down by 50-100 zloty...Read More
Indian domestic secondary billet prices have fallen by 800 rupees ($11) per tonne week on week on reduced demand from long product makers and oversupply of semi-finished products in the market, sources told Fastmarkets on Friday February 14.Fastmarkets assessed steel billet domestic, ex-works India, at 28,600-28,800 rupees per tonne on Friday, down 800 rupees from 29,400-29,600 rupees per tonne ex...Read More
A summary of Brazilian flat steel producer Usiminas' earnings in 2019.In briefAdjusted earnings at Usiminas dropped in 2019 from a year earlier, which reflected a fall in steel sales over last year mainly due to a reduction in steel exports. The company also faced an increase of 9.9% in its average cash cost per tonne in its steel business because of...Read More
The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday February 7, stabilizing after falling more than 11% in the prior week, with higher export prices from Europe this week supporting domestic British prices, sources told Fastmarkets.Fastmarkets' weekly price assessment of steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?70-9...Read More
The price of ferrous scrap imported into India moved up this week, as the bellwether Turkish market staged a recovery, sources told Fastmarkets on Friday February 14.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $286.96 per tonne on Friday, up from $284.44 per tonne one week ago - the first upwards movement for several weeks.There were no deals heard f...Read More
Turkish steel producers have continued their deep-sea scrap purchases for March shipment at slightly higher prices at the end of the week, sources told Fastmarkets on Friday February 14.A steel producer in the Izmir region booked a Baltic Sea cargo of 20,000 tonnes of HMS 1&2 (80:20) at $274 per tonne cfr.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (80:...Read More
UK suppliers of steel scrap to domestic consumers have fallen for the latest monthly settlements for February delivery, paring most of the gains made since November on weaker demand and lower prices for European scrap into Turkey and the Indian subcontinent, sources said on Thursday February 13.February contracts were down by ?25 ($32) per tonne, after climbing ?35 per tonne over the three month...Read More
Seaborne iron ore prices were rangebound on Friday February 14, while there were more transaction for low-grade iron ore fines at Chinese ports. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.67 per tonne, up $0.11 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $88 per tonne, up $0.11 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $89.79 per tonne, up $0.05 per tonne. 58% Fe f...Read More
Seaborne coking coal prices moved up on Friday February 14, defying the pessimism in the market resulting from the outbreak of the novel coronavirus (2019-nCoV) in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.43 per tonne, up $3.14 per tonnePremium hard coking coal, cfr Jingtang: $161.28 per tonne, up $0.55 per tonneHard coking coal, fob DBCT: $127.01 per tonne, unchangedHard...Read More
The three-month zinc price on the London Metal Exchange was lower during morning trading on Friday February 14, with positive price action stymied by a fresh inflow of some 2,475 tonnes, while ongoing drawdowns in aluminium failed to bolster its falling price.Zinc's outright price on the LME was recently seen at $2,150 per tonne, down by just under 1% from Thursday's closing price of $2,175 per to...Read More