Turkish flat steel producers increased their prices again during the week ended Friday November 22 on increasing raw material costs, with demand strong because of low stock levels and the expectation that prices will increase more.Raw material prices, especially those for scrap, have increased recently.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $264.2...Read More
Brazilian slab export prices have recovered in the past week, following the upward trend in the scrap and coil global markets, while mills focus on negotiations with North American customers for first- and second-quarter deliveries.Fastmarkets' assessment of steel slab export, fob main port Brazil, rose to $355-380 per tonne on Friday November 22, from $345-355 per tonne a week earlier.The latest...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil, or pre-painted galvanized iron (PPGI), increased in the week to Friday November 22, with demand improving because of low stocks and the expectation that prices will rise further, sources told Fastmarkets.A rise in raw materials prices was the reason for the higher steel prices, they added.Fastmarkets' daily index for steel...Read More
Domestic rebar prices in Poland have risen over the past week, following an increase in domestic scrap prices in Europe, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, was 2,000-2,050 zloty ($515-528) per tonne on November 22 compared...Read More
Prices in Southeast Asia's steel billet market rose in the week to Friday November 22 as Chinese buyers continued to snap up material in the spot market, sources told Fastmarkets.Over the past week, a Chinese trader reportedly booked 50,000 tonnes of Qatari billet at $418-425 per tonne cfr China, while Iranian billet was offered at $405-410 per tonne cfr China. Billet prices in Jiangsu province, a...Read More
Pig iron export prices from Brazil have moved higher during the week ended Friday November 22, on resumed sales to China at higher prices.Fastmarkets' weekly price assessment for pig iron export, fob port of Vitoria/Rio, Brazil stood at $295-300 per tonne on November 22, up from $292-295 per tonne a week earlier.Two sales were heard to China, with a combined volume...Read More
The inter-merchant spot price for light iron scrap in the UK was stable in the week ended Friday November 22, with steady demand into domestic major shredders and solid business levels into Turkey from Europe cementing British prices, trade sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?7...Read More
The price of ferrous scrap imported into India moved down this week after sentiment turned negative and market participants stepped back from trading, sources told Fastmarkets on Friday November 22.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $281.98 per tonne on Friday, down from $289.63 per tonne a week earlier, bringing a consecutive six-week upward streak to a...Read More
No new deals were reported in the US pig iron market during the week ended Friday November 22 because buyers and suppliers failed to agree deal prices.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $325-327 per tonne on Friday, narrowing upward from $323-327 per tonne a week before."There is...Read More
Turkish steel producers continued to book deep-sea scrap for December deliveries at a slow pace and steady prices, sources said on Friday November 22.A steel mill in the Marmara region booked a Baltic Sea cargo at $261 per tonne cfr for HMS 1&2 (80:20). The cargo composition was not clear at the time of publication.As a result of this trade, the daily scrap indices remained almost flat on November...Read More
The Fastmarkets index for iron ore 65% Fe Brazil-origin, cfr Qingdao, rose on Friday November 22, breaching the $100-per-tonne mark for the first time since October 8.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.08 per tonne, up $1.41 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $88.11 per tonne, up $1.41 per tonne.62% Fe low-alumina fines, cfr Qingdao: $87.47 per tonne, up $1....Read More
Prices for seaborne premium hard coking coal rose on Friday November 22, though participants said that there was little room for the market to strengthen significantly in the coming weeks.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.76 per tonne, up $1.25 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, up $1.32 per tonneHard coking coal, fob DBCT: $120.70 per ton...Read More
Eastern China's rebar prices dropped slightly on Friday November 22 - the first downward movement in 10 days - amid concerns over high production rates, though futures picked up. Eastern China (Shanghai): 4,070-4,100 yuan ($579-583) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,780-3,820 yuan per tonne, up 20-30 yuan per tonneTraders in eastern China cut prices slightly to genera...Read More
China's hot-rolled coil exporters maintained high offers on Friday November 22 amid price gains in the country's eastern region.DomesticEastern China (Shanghai): 3,670-3,700 yuan ($522-526) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,650-3,660 yuan per tonne, narrowing downward by 10 yuan per tonneSellers in Shanghai started selling at around 3,670 yuan per tonne in the earlier...Read More
The European Commission will consider early next year whether to add cadmium to the European Union's critical raw materials list, with the aim of encouraging production and recycling of this metal widely used in batteries, and hence potentially helping the EU economy move away from fossil fuels. Such a listing is designed to incentivize European production of a critical raw material that is in sho...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Diplomats at the World Trade Organisation's goods council have attacked the European Union over its plans to integrate titanium dioxide and cobalt into its health and safety laws, claiming this could impose unnecessary restrictions on exporting certain stainless steels to the EU.The European Parliament is considering regulating these steel inputs under its classification, labeling and packaging of...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 22. China The domestic Chinese ferro-silicon price remained unchanged after producers refused to lower offer prices despite slow trades. Export price was also steady on firm offer prices from major suppliers, but persistent weak demand has resulted in some lower offers among tra...Read More
Steady demand in Taiwan continues to prop up ferrous scrap prices, which maintained a slight upward trend this week. Demand in the major import market of Vietnam remained weak due to the narrow price spread between ferrous scrap and downstream billet, with few buyers willing to pay higher for deep-sea cargoes. There was, however, interest for lower-priced Japanese scrap. VietnamFastmarkets' p...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices) By Eric Onstad LONDON, Nov 22 (Reuters) - Copper rebounded on Friday aftercomments by the U.S. and Chinese presidents raised hopes thatthe two countries will forge a trade deal. Donald Trump said on Friday that a trade deal with China is"potentially very close" while Xi Jinping said that China wantsto work out an initial trade p...Read More