Steel plate prices in the United States held steady for a fourth consecutive week after a December producer price hike did not materialize in transaction prices in the first full working week of 2020.Plate mills issued a $40-per-ton ($2-per-hundredweight) price increase in early December, their third round of hikes since early November. Prices strengthened in the first two weeks of December but st...Read More
Ukrainian steel billet producer Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD) has restarted its 900,000-tonnes-per-year No12 blast furnace at its steelmaking facility in the port city of Kamianske on the Dneiper river.Trial pig iron production was started at the end of 2019 and normal operations resumed on Saturday January 4, the company said on January 10. Currently, the daily...Read More
Sentiment in the global long steel market has become more positive "especially after the announcement that a trade deal between the [United States] and China will be signed," the International Rebar Producers & Exporters Association (Irepas) said last week."[But] we have to keep in mind the possibility that any trade deal may prove to be elusive," the association added in its January 2020 Short Ra...Read More
China may continue importing steel billet after the Chinese New Year holiday (January 25-30) due to the expected pick-up in seasonal downstream demand and prices post-holiday, market sources told Fastmarkets.China was not heard to have imported any steel billet in January due to the holiday lull in the domestic markets. Quiet JanuaryCurrent billet import offers are around $450 per tonne cfr China...Read More
A number of factors came together in the second half of 2019 to create a situation of high volatility in the market for pig iron exports from the Commonwealth of Independent States (CIS), which covers almost two-thirds of global exports.On one hand, weaker prices for finished steel products and scrap put pressure on the pig iron market, while on the other hand suppliers redirected pig iron away fr...Read More
Ferrous scrap prices in most global markets dipped on weaker demand during the week ended Friday January 10, but the Indian market remained strong.Turkish market dips on fewer trades United States prices unchanged Limited buying sees Vietnam prices drop Taiwan prices down on weaker demand Indian prices continue to increase TurkeyPrices for ferrous scrap into Turkey fell this week, with only o...Read More
Sentiment in the Turkish domestic scrap market turned negative over the past week due to weakening local finished long steel prices, sources told Fastmarkets on Monday January 13.Domestic long steel prices fell slightly due to the recent strengthening of the Turkish lira against the US dollar.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic,...Read More
Seaborne iron ore prices rose on Monday January 13 amid concerns that shipments from Australia would be disrupted by another cyclone. 62% Fe fines, cfr Qingdao: $95.93 per tonne, up $2.01 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $94.97 per tonne, up $2.01 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $96.20 per tonne, up $1.17 per tonne. 58% Fe fines high-premium, cfr Qingdao: $81.1...Read More
Operations at Australia's Curragh coal mine have been suspended following a fatal accident over the weekend, the miner said on Monday January 13. Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.26 per tonne, up $1.73 per tonnePremium hard coking coal, cfr Jingtang: $160.87 per tonne, up $2.77 per tonne Hard coking coal, fob DBCT: $125.01 per tonne, up $2.68 per tonneHard...Read More
China's domestic hot-rolled coil market remained subdued on Monday January 13, although a weakening dollar appeared to give some support to export prices.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($561-562) per tonne, narrowed by 10 yuan per tonne on both endsNorthern China (Tangshan): 3,600 yuan per tonne, down 20 yuan per tonneSources in both eastern and northern China said that trading...Read More
Eastern China's rebar prices fell further on Monday January 13 on softening demand, though those in the northern region held up amid a lack of selling pressure.Eastern China (Shanghai): 3,650-3,680 yuan ($527-532) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,540-3,560 yuan per tonne, unchangedDemand continued to weaken during the day with less than two weeks to go before the start...Read More
Silicon metal prices in the United States' spot market resumed their downward trend this month due to weak spot demand, with buyers working through annually contracted material priced even lower than spot silicon.Fastmarkets' monthly assessment of the price for silicon, ddp US, was at $0.91-0.94 per lb on Friday January 10, down from $0.92-0.95 per lb one month earlier and off from $1.16...Read More
Manganese alloys prices in Europe and India increased in the week to Friday January 10 against steady increases in manganese ore markets since early December, although industry sources believe further increases will be limited due to relatively soft consumer demand.In Europe, the silico-manganese lumpy 65-75% Mn, basis 15-19% Si (scale pro rata), major European destinations market price climbed by...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday January 10.ChinaKey drivers The price of antimony, MMTA standard grade II, ddp China remained unchanged for the third consecutive week in the latest assessment period ended on Wednesday January 8 after many suppliers held offer prices firm. Many domestic suppliers were reluctant to compromise further on off...Read More
Despite uncertainty surrounding downstream demand, the price of cobalt sulfate in China has jumped by more than 12% so far this year, with suppliers either offering the material at aggressively high levels or holding back from sales.Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China was 49,000-51,000 yuan ($7,080-7,369) per tonne on Friday January 10, up by 5,000-6,000 yuan...Read More
Key data from the pricing session in Shanghai in the week ended Friday January 10. Key drivers The export price was supported by an appreciation in the yuan, a rising domestic price and higher domestic logistics fees ahead of the Lunar New Year in two weeks time. The yuan was trading at 6.930 to the...Read More
De-risking Base metal prices have experienced some sharp rebounds after the risk-off episode sparked by the deadly US airstrike on a top Iranian commander on January 3. The focus now is on the signing of the ‘phase 1’ US-China trade deal this week, which could further de-risk the outlook. Aluminium: High enough for now Aluminium prices have been working steadily higher since their Octobe...Read More
Return of positive risk sentiment Events over the past two months have generally been supportive of risk sentiment while trade tensions between the US and China continue to ease. With the phase one trade deal set to be signed on January 15, both countries have also agreed to restart semi-annual talks aimed at resolving economic disputes, a process which was previously abandoned at the start of the...Read More
Aluminium The LME three-month aluminium price managed to find support at the 20 DMA ($1,801 per tonne) as well as the December 2019 low UTL on Friday January 10. Also, it was well-bid into the close of trading that same day, settling above the psychological price level of $1,800 per tonne and trading either side of it early this week. The rising 20 DMA remains an all-important short-term dire...Read More
Sharp price recovery has further to run... The LME copper price has rebounded sharply since it hit an intraday low of $6,089 per tonne on January 3, as the risk-off response to the escalation of US-Iran geopolitical tensions proved short-lived. However, its quarter-to-date average dropped to $6,175 per tonne last week, compared with $6,185 per tonne in the prior week, around $225 per tonne or 3.5%...Read More