The price of alumina in China edged higher this week, breaking a run of 14 consecutive weekly declines, on reports of substantial production cuts in the country.Fastmarkets' weekly price assessment of alumina metallurgical grade, ddp China stood at 2,330-2,460 yuan ($333-352) per tonne on Friday December 27, up by 30-40 yuan per tonne or 1.5% from 2,300-2,420 yuan per tonne a week earlier, when th...Read More
Nickel and tin dipped in the morning trading session on the London Metal Exchange on Friday December 27 but the rest of the base metals were firm after the Christmas break"While the LME was away yesterday it's fair to say little happened in its absence. Prices have started the day as a mixed bag," Kingdom Futures CEO Malcolm Freeman said in a morning note. The LME three-month nickel price fell fur...Read More
The domestic price of hot-rolled coil in Northern Europe held steady on Friday December 27 from the previous day, which market sources attributed to holiday-thinned activity.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe was unchanged at ?,?439.39 ($487.46) per tonne on Friday in slow market conditions.The calculation of the index was based on the latest...Read More
Flat-rolled steel import prices were mostly unchanged in South America in the week to Friday December 27 amid a market lull resulting from the year-end holidays.Fastmarkets assessed the price for steel plate import, cfr main ports South America at $520-530 per tonne on Friday, up from $510-525 per tonne a week before. While countries in the region's Pacific Coast did not get new offers for China-o...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil or pre-painted galvanized iron (PPGI) decreased in the week to Friday December 27, a reflection of typically modest demand around the end of the year, sources told Fastmarkets.Domestic pricesDemand in Turkey's local market was moderate because buyers had placed their orders earlier in December. Most producers have filled the...Read More
Prices for steel billet and rebar in Egypt were stable in the week ended Friday December 27 in subdued year-end trading conditions when demand is typically weak, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?10,000-10,580 ($622-658) per tonne ex-works including 14% VAT, unchanged since...Read More
Some Turkish hot-rolled coil producers increased their prices again during the week ended Friday December 27 but market activity was subdued because of the usual year-end slowdown.Raw material prices, especially those of scrap, have continued to increase recently. Fastmarkets' daily index of steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $303.39 per tonne on December 24, rising f...Read More
China's domestic hot-rolled coil market was largely stable on Friday December 27, though some mills have started to take export orders at lower prices amid thin trading.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($557-559) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, unchangedTrading activity was reported as stable during the day amid sus...Read More
China's domestic rebar prices increased on Friday December 27 on a pick-up in demand ahead of the weekend. Eastern China (Shanghai): 3,640-3,670 yuan ($520-524) per tonne, up 10-30 yuan per tonneNorthern China (Beijing): 3,500-3,530 yuan per tonne, up 10-20 yuan per tonneBuyers encouraged by the gains in the futures market in the past couple of days raised their procurement rates. The...Read More
The Turkish deep-sea scrap import markets remained quiet at the end of the week because of the traditionally slower Christmas holiday period, sources said on Friday December 27.The most recent deep-sea scrap cargo was sold on December 20 at $303 per tonne cfr for HMS 1&2 (80:20) from the Baltic Sea region.The market has been moribund...Read More
Vale has entered into an agreement to sell its 25% stake in Chinese coal producer Henan Longyu Energy Resources Co to Yongmei Group for 1.07 billion yuan ($152 million), the Brazilian mining company said on Friday December 27.Longyu operates two coal mines in the Chinese province of Henan, producing around 3.4 million tonnes per year of metallurgical and thermal coal, Vale added. The buyer, Yongme...Read More
Seaborne iron ore prices rose on Friday December 27 because of trades heard at higher levels.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.51 per tonne, up $0.88 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.60 per tonne, up $0.88 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.65 per tonne, up $1.04 per tonne.58% Fe fines high-premium, cfr Qingdao: $77.73 per tonne, up...Read More
Trading activity in the seaborne coking coal market was robust this week despite it being the end of the year, with over 800,000 tonnes of premium products changing hands.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.25 per tonne, up $0.12 per tonnePremium hard coking coal, cfr Jingtang: $148.77 per tonne, up $0.82 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard...Read More
Liquidity in the Asian ferrous scrap market thinned this week due to year-end holidays, with some buying heard in Taiwan and Vietnam, albeit involving small quantities. Sellers in the United States are on their Christmas vacation while those in Japan kept prices stable.VietnamFastmarkets' price assessment for bulk shipments of steel scrap HMS 1&2 (80:20), cfr Vietnam was $300-305 per tonne cfr on...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
The China Smelters Purchase Team (CSPT) has set its treatment and refining charges (TC/RCs) purchase price floor for the first quarter of 2020 at $67 per tonne and 6.7 cents per lb, sources told Fastmarkets on Thursday December 26.The CSPT, which comprises purchasing managers from the country's largest copper smelters, made the decision at its quarterly meeting in Fuzhou city, Fujian province, on...Read More
Base metals prices on the Shanghai Futures Exchange were mixed at the close of the morning trading session on Thursday December 26, with activity remaining limited ahead of year-end holidays."It is the holiday season and market activity is very thin because many people are on their vacation now," a base metals analyst in Shanghai told Fastmarkets.Participants have been winding down ahead of holida...Read More
Copper cathode premiums in China fell this week amid year-end destocking, a lack of significant spot demand and a persistently closed import arbitrage window between Shanghai and London.Fastmarkets assessed the copper grade A cathode premium, cif Shanghai at $42-55 per tonne on Tuesday December 24, down by $8 per tonne from $50-63 per tonne a week earlier. The latest assessment marks the lowest si...Read More
The China Smelters Purchase Team (CSPT) has set its treatment and refining charges (TC/RCs) purchase price floor for the first quarter of 2020 at $67 per tonne and 6.7 cents per lb, sources told Fastmarkets on Thursday December 26.The CSPT, which comprises purchasing managers from the country's largest copper smelters, made the decision at its quarterly meeting in Fuzhou city, Fujian province, on...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 25.Key drivers Cobalt sulfate prices ticked up on Wednesday amid increased inquiries from consumers who need to restock ahead of a temporary suspension of logistics services, which will take place around mid-January, a week before the Chinese New Year holiday (January 24-30).Meanwhile, producers have broadly...Read More