An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 22.Key driversPrices in the ferro-titanium and titanium scrap markets were steady in the third week of January, a level the markets have maintained since December 18. The number of deals done over the week were down from the week prior, although suppliers are keen to hold their offer prices against an expected increase in de...Read More
Turkish steel producers continued to stay away from the deep-sea scrap market, while simultaneously trying to secure short-sea material for their urgent needs, sources said on Wednesday January 22.Mills have been quiet in the deep-sea markets since the middle of last week when the prices fell sharply.Prices in the deep-sea scrap markets fell by around $15 per tonne late last week, after a ste...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 22.Key driversPrices in the ferro-titanium and titanium scrap markets were steady in the third week of January, a level the markets have maintained since December 18. The number of deals done over the week were down from the week prior, although suppliers are keen to hold their offer prices against an expected increase in de...Read More
A summary of Antofagasta's production and sales results for the fourth quarter and full year of 2019, and full-year production guidance for 2020. The company saw its copper output decrease in the fourth quarter against the corresponding period in 2018, amid protests in Chile, a strike at the Antucoya unit, and lower copper content in ores. Activities at mines were normalized and were now in line w...Read More
Broader markets rebounded in Asia on Wednesday January 22, after Tuesday's coronavirus scare, but the metals look fairly limp ahead of the Lunar New Year holiday - especially copper that also saw London Metal Exchange stocks rise by 33% yesterday.Asian equities are firmer led by a 1.2% rise in the Hang Seng.European equities open firmer too - suggesting virus scare may not be a headwind for now.Ba...Read More
Domestic prices for hot-rolled coil increased over the past week in Southern Europe due to a lack of competitive import offers and a slight recovery in demand, sources told Fastmarkets on Wednesday January 22.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, ex-works Southern Europe, was ?,?445-460 ($494-510) per tonne on January 22, up by ?,?10 per tonne week on week from...Read More
China's hot-rolled coil market continued to be quiet on Wednesday January 22, with participants slowing down or suspending operations before the upcoming Chinese New Year holiday, while concerns have emerged over post-holiday demand due to the spread of a mysterious respiratory virus that has claimed several lives.DomesticEastern China (Shanghai): 3,860-3,880 yuan ($559-562) per tonne, unchan...Read More
Global steel trader Stemcor has been sold to China's Cedar Holdings for $150 million, a source with knowledge of the matter told Fastmarkets on Wednesday January 22."Once the transaction is completed, Stemcor's banking and finance facilities will increase considerably and its business will grow further," the source said.Cedar Holdings is a privately-owned commodities business headquartered in Guan...Read More
The price of steel rebar in the Northern European domestic market was confirmed at higher levels this week in a delayed reaction to higher scrap prices in December, sources told Fastmarkets on Wednesday January 22. Last week a mill claimed to have achieved higher prices with some of its customers, and this week these higher figures were heard across the market. Yet the increases may be short-lived...Read More
Hollow steel sections prices in Europe moved up again this week, with prices for hot-rolled coil feedstock material continuing to rise and EU import quotas moving closer to expiry, market sources told Fastmarkets on Wednesday January 22.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-640 ($688-710) per tonne on Wednesday, up from ?,...Read More
The price of steel H-beams in Northern Europe widened upwards on Wednesday January 22 as mills continued their campaign of price increases, told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?550-580 ($610-644) per tonne on January 22, up from ?,?550-570 per tonne on January 15."Prices have moved up rapidly [and] there could b...Read More
Turkish steel producers continued to stay away from the deep-sea scrap market, while simultaneously trying to secure short-sea material for their urgent needs, sources said on Wednesday January 22.Mills have been quiet in the deep-sea markets since the middle of last week when the prices fell sharply.Prices in the deep-sea scrap markets fell by around $15 per tonne late last week, after a ste...Read More
Seaborne iron ore prices were rangebound on Wednesday January 22 amid limited overall activity in the market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $96.68 per tonne, down $0.12 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $95.72 per tonne, down $0.12 per tonne.62% Fe low-alumina fines, cfr Qingdao: $97.86 per tonne, up $0.03 per tonne.58% Fe fines high-premium, cfr...Read More
Global steel trader Stemcor has been sold to China's Cedar Holdings for $150 million, a source with knowledge of the matter told Fastmarkets on Wednesday January 22."Once the transaction is completed, Stemcor's banking and finance facilities will increase considerably and its business will grow further," the source said.Cedar Holdings is a privately-owned commodities business headquartered in Guan...Read More
Iranian export billet prices softened in the week to Wednesday January 22 following a downtrend in the CIS export market.The CIS export billet price slipped by $12 per tonne over the week, to $396 per tonne on January 22, amid weakening fundamentals in the finished long steel market as well as falling scrap prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origi...Read More
CIS export billet prices continued to slide on Wednesday January 22 under pressure from a weakening finished long steel market and consequently lower bids for semi-finished steel, as well as expectations of more price drops on scrap in the near term.Some CIS-region producers indicated their readiness to sell billet at $405-408 per tonne fob Black Sea, while at the beginning of the week they had be...Read More
Global steel trader Stemcor has been sold to China's Cedar Holdings for $150 million, a source with knowledge of the matter told Fastmarkets on Wednesday January 22."Once the transaction is completed, Stemcor's banking and finance facilities will increase considerably and its business will grow further," the source said.Cedar Holdings is a privately-owned commodities business headquartered in Guan...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 22.Key driversPrices in the ferro-titanium and titanium scrap markets were steady in the third week of January, a level the markets have maintained since December 18. The number of deals done over the week were down from the week prior, although suppliers are keen to hold their offer prices against an expected increase in de...Read More
Hollow steel sections prices in Europe moved up again this week, with prices for hot-rolled coil feedstock material continuing to rise and EU import quotas moving closer to expiry, market sources told Fastmarkets on Wednesday January 22.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-640 ($688-710) per tonne on Wednesday, up from ?,...Read More