Hot-rolled coil prices in the United States declined on Monday February 10, with distributors holding off on purchase orders in expectation of lower prices later. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.17 per hundredweight ($583.40 per short ton)on Monday February 10, down by 1.6% from $29.64 per cwt on Friday February 7 and down by 1.9% from $29.75...Read More
Steel plate prices in the United States retreated after ferrous scrap indicators were lower and buyers demonstrated a reluctance to stock up in the face of price hikes in the new year.Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US weakened to $31 per hundredweight ($620 per short ton) on Friday February 7 from $32 per cwt on January 31 - ...Read More
Falling scrap costs in Turkey as well as low demand in the major sales outlets negatively affected steel billet producers from the Commonwealth of Independent States (CIS) in the first week of February.Chinese customers' cancelling orders stoked negative sentiment in and added pressure to the Asian market.Up to 100,000 tonnesof steel billet initially orderedfor China is now being offered to Southe...Read More
Fastmarkets has amended the publication date of its Brazilian domestic steel price assessments, ex-works Brazil, reais per tonne, following market feedback.The publication of the Brazilian domestic flat steel and rebar price assessments has moved from the first Friday of each month to the second Friday of each month, allowing Fastmarkets to capture price changes more quickly and accurately.The nex...Read More
Some rebar producers in Egypt have decreased their prices in effect from Monday February 10 amid falling billet prices and a strong domestic currency, sources told Fastmarkets.The country's biggest producer Ezz Steel is now offering rebar at E ?9,900 ($626) per tonne ex-works including 14% VAT, down from E ?10,000 per tonne ex-works.El Marakby...Read More
Turkish steel producers have continued to book deep-sea scrap from the United States and Europe for end of February and early March shipments, sources told Fastmarkets on Monday February 10.A steel mill in the Iskenderun region booked a European cargo of 20,000-25,000 tonnes of HMS 1&2 (80:20) at $252 per tonne cfr.A steel mill in the Marmara region booked a US cargo, comprising 18,000 tonnes of H...Read More
Turkish domestic auto bundle and ship scrap prices have continued to slide over the past week in line with the falling cost of imported scrap, sources said on Monday February 10.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,510-1,715 lira ($251-285) per tonne on February 10, down from 1,560-1,800 lira per tonne last week.The Turkish stee...Read More
Ferrous scrap prices continued to move lower across the global markets during the week ended Friday February 7, following poor trading as a result of the coronavirus outbreak in Asia.Turkish prices drop sharplyUnited States export prices drop on Turkey bookingsTaiwan import prices slip on demand dipVietnam prices move down as virus dampens sentimentIndian import prices slump as trading returnsTurk...Read More
Seaborne iron ore prices eased on Monday February 10 amid the de-escalation of Tropical Cyclone Damien which hit Western Australia at the end of last week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.88 per tonne, down $0.71 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $82.21 per tonne, down $0.71 per tonne.62% Fe low-alumina fines, cfr Qingdao: $84.07 per tonne, down $0.95 per...Read More
Seaborne coking coal prices were unchanged on Monday February 10, with the market having a quiet start after the weekend following last week's activity that saw over 650,000 tonnes of spot cargoes changing hands.Fastmarkets indicesPremium hard coking coal, fob DBCT: $151.58 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $160.61 per tonne, unchangedHard coking coal, fob DBCT: $127.01 p...Read More
Spot prices in the Singapore rebar import market continued to weaken over the past week on lower raw materials prices in the ferrous scrap markets and bearish sentiment caused by the outbreak of the coronavirus.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-440...Read More
Demand for seaborne iron ore concentrate and pellets fell last week amid a stagnant steel market in China due to the outbreak of the novel coronavirus (2019-nCoV) in the country.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $99.07 per tonne last Friday February 7, down by $3.54 per tonne from a week earlier.The daily Fastmarkets index for iron ore 65...Read More
China's hot-rolled coil producers lowered their prices on Monday February 10 amid rising inventories resulting from a delayed resumption of business in downstream sectors and prolonged logistical hurdles.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($500-503) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,200-3,220 yuan per tonne, down 50 yuan per tonneA Shanghai-based trad...Read More
China's domestic rebar prices were mixed on Monday February 10, with those in the eastern region holding steady while the northern Chinese market tumbled on weak demand.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,460-3,480 yuan per tonne, down 80 yuan per tonneAfter an extended break implemented by local authorities to contain the spread of...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday February 8.Key driversChina Fastmarkets' assessment of the price of antimony, MMTA standard grade II, ddp China was unmoved following a lack of liquidity and absent market participants after the Chinese New Year holiday break was extended (January 24-February 2). Many suppliers stayed out of the market in the week to Febru...Read More
Minor metals producer Vital Materials has acquired specialty chemicals company Lanxess' organometallics business, Vital said on Friday February 7. The plant located in Pyeongtaek, South Korea, produces high-purity gallium, indium and aluminium-based metalorganic sources including trimethylgallium, trimethylaluminum, triethylgallium and trimethylindium. The organometallics are used for the manufact...Read More
Swiss miner-trader Glencore has signed a five-year deal - from 2020 until 2024 - to supply South Korean battery manufacturer Samsung SDI with 21,000 tonnes of cobalt contained in hydroxide, Glencore said on February 10.Glencore produces cobalt hydroxide at its Katanga mine in the Democratic Republic of Congo (DRC) - slated to produce about 29,000 tonnes of cobalt in intermediates this year. Glenco...Read More
The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board.There is still much uncertainty around the impact of the Wuhan coronavirus (2019-nCoV), but with more businesses returning to work in China this week, we might get a better feel for...Read More
Xiamen Xiangyu Group and Jiangsu Delong Nickel Industry Co's Indonesian stainless steel joint venture last week began hot tests on production facilities with the capacity to produce grade-304 stainless steel billet at a rate of 600,000 tonnes per year. The company, which is officially known as PT Obsidian Stainless Steel,...Read More
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