Turkish domestic rebar and wire rod prices have remained largely stable over the past week on moderate demand, sources said on Thursday November 28.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 2,840-2,880 Turkish lira ($492-499) per tonne on Thursday, widening downward slightly from the...Read More
Turkish steel producers raised their offers to reflect the upturn in the scrap costs in their finished steel prices although demand continued to be sluggish, sources said on Thursday November 28. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey was $420-430 per tonne on an actual weight basis on Thursday, up from last week's $415-420 per tonn...Read More
Prices for steel rebar and billet in Egypt continued to rise in the week ended Thursday November 28 amid strong demand from the construction sector, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?10,000-10,500 ($619-650) per tonne ex-works including 14% VAT, up from last week's E ?9,850-10,370 per tonne ex-works including VAT.The...Read More
The recent grant of approval from the Indian Supreme Court for ArcelorMittal's acquisition of Essar Steel brings an end to years of legal wrangles, giving the global steelmaker access to a much sought-after market, and allowing the Indian steel sector to take a further step toward health. ArcelorMittal has been keen for some time to break into the domestic Indian steel market because it is one of...Read More
The Fastmarkets holiday pricing schedule has been updated to reflect the official announcement of public holidays in China for 2020. Please click on the image below to view the updated Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2019 and 2020.For all Fastmarkets price methodologies and specifications, visit: https://ww...Read More
China's domestic hot-rolled coil prices were largely stable on Thursday November 28, while in the export market buyers were refraining from placing orders on expectation of possible price drops in the near future.DomesticEastern China (Shanghai): 3,690-3,720 yuan ($525-530) per tonne, unchangedNorthern China (Tangshan): 3,630 yuan per tonne, narrowing downward by 10 yuan per tonneTrading...Read More
Seaborne iron ore prices were rangebound on Thursday November 28, while the 65/62% Fe spread narrowed amid losses in steel prices and profits.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.11 per tonne, up $0.55 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.20 per tonne, down $0.39 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88 per tonne, up $0.97 per tonn...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials....Read More
Buying activity in the seaborne coking coal market was kept warm by the Chinese market, where steel mills continue to procure imported materials.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.67 per tonne, up $0.67 per tonnePremium hard coking coal, cfr Jingtang: $147.77 per tonne, up $0.28 per tonneHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coa...Read More
The price of gallium in China is likely remain vulnerable to downward pressures for the remainder of 2019 and into the first half of 2020, delegates to a minor metals conference in the country's Hunan province were told this week.Market participants told Fastmarkets during the Chinese Minor Metals Forum, held in Changsha city over November 27-28, that the pressure on the price would come from subd...Read More
Key data from the Wednesday November 27 pricing session in Shanghai and London. Key drivers Sellers further cut their offers for cobalt hydroxide payables - the percentage of the metal price paid to procure intermediates - in doing so, encouraging larger tonnage purchases than in recent weeks.Market sources reported improved interest for January...Read More
The Chinese stainless steel market was under pressure over the past week due to high local inventory levels and producers continuing to adjust their asking prices downward in response to the recent decline in the price of nickel, market participants told Fastmarkets.The three-month nickel contract on the London Metal Exchange has averaged $15,335 per tonne so far in November, as compared with...Read More
* GRAPHIC-2019 asset returns:* Premium for cash over three-month aluminium around $11/T * Nickel falls to four-month low, breaches 200-day movingaverage (Updates with closing prices) By Pratima Desai LONDON, Nov 28 (Reuters) - Copper prices slipped on Thursdayas deteriorating relations between the United States and Chinacast doubt over prospects for imminent resolution to theprolonged trade disput...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Wednesday November 27, falling by a little more than 1% on thin turnover, while strength in the US economy did little to boost risk-off sentiment toward the base metals complex.Nickel's underlying price on the LME closed at $14,380 per tonne on Wednesday afternoon, falling from an intraday high of $14,57...Read More
Premiums have fallen in the United States over the past week on a year-end push for sales while rates in China are mixed and those in Europe are flat. US starts holiday season with briquette sell-offShanghai bonded-zone full-cathode premium declinesLittle spot trade in Europe so assessments unchangedDownturn for US premiums Nickel reversed lower in the US largely because an aggressively low, overs...Read More
Shifting London Metal Exchange zinc and lead prices have dictated premiums this past week, overriding fundamental shortages from key suppliers. The LME zinc contract's backwardated forward curve has led to lowball offers from merchants in Italy, while a declining lead price has prompted buyers to come into the market in Southeast Asia for lead in the week to Tuesday November 26. Italy zinc pr...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday November 27 that are worth another look.Brazilian steelmaker Gerdau has agreed to buy 96.4% of Sider??rgica Latino-Americana (Silat) shares from Spanish group Hierros A????n for $110.8 million, in a shift from its divestment strategy of the past four years.Shifting London Metal Exchange zinc and lead prices have dictated premi...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from the November 27 pricing session in London. Key drivers: - Cobalt prices continue to come under pressure while traders seek to destock ahead of the end of the year.- Spot inquiries are scant,...Read More
Turkish steel mills have started booking deep-sea scrap for January shipment at higher prices, sources said on Wednesday November 27.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded and 5,000 tonnes of a mixture of HMS 1, and plate and structural scrap (P&S) at an average price of $262.50 per tonne cfr late on Tuesday...Read More