Ferrous scrap prices in most global markets continued to increase in the week ended Friday December 27 despite the traditional slowdown in trading during the festive periods. Turkey paused scrap imports amid holidays United States scrap export offers increased on both coasts Prices in Taiwan edge up despite weak trading Upturn in global markets drags up Indian prices Turkey Tur...Read More
Here are five Fastmarkets MB stories you might have missed on Monday December 30 that are worth another look.Fastmarkets reviews how much of the EU safeguarding import quota allowances for hollow sections has been used and by who, with an estimation of when they will be exhausted country by country at the current usage rates.The benchmark premium paid for the supply of aluminium to main Japanese p...Read More
The spot lead concentrate treatment charge (TC) dropped in December in the first downward movement for six months.Lead concentrate TCs had tripled over the past half-year as an arbitrage that enticed Chinese buying for years finally closed. Fastmarkets assessed lead spot concentrate TC, high silver, cif China at $150-170 per tonne on December 27, down from $170-185 per tonne in November but u...Read More
The assessment for ferro-nickel with 26-32% nickel content in China fell to a discount of $1,100-1,300 per tonne on Monday December 30, its lowest level on Fastmarkets records and down 71.4% from last month. Fastmarkets' ferro-nickel premium/discount, 26-32% Ni contained, cif China is now at its biggest discount since the launch of the assessment on January 25, 2016. Market participants attri...Read More
Base metals prices on the London Metal Exchange were mostly little changed on Monday December 30, due to continued quiet market conditions.Copper prices remained above $6,200 per tonne, but only edged up $5 to $6,219 per tonne from Friday's 5pm close. Meanwhile, aluminium prices dropped $5 to $1,820 per tonne."So far today the metals have been extremely dull and on thin volumes and for the gr...Read More
The benchmark premium paid for the supply of aluminium to main Japanese ports (MJP) in the first quarter of 2020 has settled at $83 per tonne on a cif basis over the London Metal Exchange cash price.The settlement represents a decrease of 14.4% or $14 per tonne from the fourth-quarter benchmark of $97 per tonne, which was set at the end of September. Deals for more than 50,000 tonnes between three...Read More
Base metals prices on the Shanghai Futures Exchange were mixed at the close of the morning trading session on Monday December 30, but movements were largely limited amid the year-end slowdown.The exceptions to this rangebound trading were nickel and tin. The most-traded March nickel contract rose to 111,690 yuan ($15,963) per tonne at the close of the morning trading session on Monday, up by 1,700...Read More
The Commonwealth of Independent States export billet market was largely stable due to quiet trading conditions on Monday December 30 amid a pre-holiday lull in the region and in the customers' markets. "Major mills sold out of material scheduled for shipment in February and are now in wait-and-see mode before entering the market with...Read More
Fastmarkets reviews how much of the EU safeguarding import quota allowances for hollow sections has been used and by who, with an estimation of when they will be exhausted country by country at the current usage rates. Read More
China's rebar prices continued to gain on Monday December 30 following a rise in the futures market, which boosted trading in the east of the country.DomesticEastern China (Shanghai): 3,680-3,720 yuan ($526-532) per tonne, up 40-50 yuan per tonneNorthern China (Beijing): 3,550-3,570 yuan per tonne, up 40-50 yuan per tonneA Shanghai-based trader said sentiment in the spot market was lifte...Read More
Import prices for rebar in Singapore were unchanged over the past week amid limited trading activity due to the year-end holiday season. 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 $445-450 per tonne for the week to Monday December 30, flat from a week earlier."The...Read More
Hot-rolled coil prices in Asia have continued upward this past week to surpass $500 per tonne cfr Vietnam amid stable demand and increases in offers from sellers.Fastmarkets' assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $500-505 per tonne cfr for the week ending Monday December 30, up b...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Turkish domestic scrap prices remained stable over the past week on the back of steady imported scrap values, sources said on Monday December 30.All the country's steel producers kept their buying prices for auto bundle scrap unchanged over the past seven days.As a...Read More
Physical iron ore prices were generally rangebound on Monday December 30, with low-alumina fines continuing to outperform.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.08 per tonne, down $0.43 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.17 per tonne, down $0.43 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.34 per tonne, down $0.31 per tonne.58% Fe fine...Read More
Seaborne coking coal prices were stable on Monday December 30, with the result of a miner's tender not confirmed at the time of writing. Fastmarkets indices Premium hard coking coal, fob DBCT: $133.65 per tonne, up $0.40 per tonne Premium hard coking...Read More
Seaborne iron ore concentrate prices weakened last week with the wider market, while pellet pricing held ground.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $105.62 per tonne last Friday December 27, down by $2.31 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, averaged $102.38 per tonne last...Read More
Key data from the pricing session in Shanghai in the week to Friday December 27. China Key drivers: The export price range for Chinese silicon 5-5-3 moved up by 1% from the previous week due to tight supply. Chinese producers have significantly decreased their output over 2019 in response to unfavorable...Read More
An auction for 3,609.5 tonnes of indium once held by China's defunct Fanya Metal Exchange has failed to attract any bids, according to an official notice published via the Alibaba judicial online platform on Monday December 30.The auction, which had an opening bid of 790 yuan ($113) per kg, closed at 10am Shanghai time on Monday.Market participants were surprised that the indium stockpile, which r...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. The Shanghai Composite Index gained 10.10 to 3,050.12 after China's December PMI advanced to 50.2. Consensus was 50.1. The Index moved above 3,042.93 and 3,048.48 completing a reverse Head & Shoulders pattern.Nvidia (NVDA $232.32) is expected to open higher after Benchmark raised its tar...Read More