The CIS export billet price picked up at the end of the week on a booking to Turkey, market participants said.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $380 per tonne on Friday November 15, up by $5 day-on-day.Russia's Abinsk Electric Steel Mill sold a cargo of billet to Turkey this week at $393 per tonne cfr, sources told Fastmarkets. According to various assessments,...Read More
The inter-merchant spot price for light iron scrap in the UK narrowed higher in the week ended Friday November 15, with firm demand possibly pushing up prices in the near term, trade sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?75-90 ($96-116) per tonne on Friday, up by ?5 per tonne at the low end...Read More
Suppliers in the UK have won a round of price increases for their monthly intake of ferrous scrap from domestic suppliers for November delivery contracts, paring losses made the month before.This was in line with a recovery in export prices, Fastmarkets heard on Friday November 15.The UK monthly steel scrap market to domestic consumers has settled with prices up by an average of ?15 ($19) per ton...Read More
The price of grade-316 stainless steel scrap in the UK domestic market decreased substantially this week on lower nickel and molybdenum prices, sources told Fastmarkets on Friday November 15. Fastmarkets' assessment for stainless steel scrap 316 solids domestic, delivered merchants UK was ?1,170-1,250 ($1,504-1,607) per tonne, down by ?50-80 per tonne. The sharp drop was driven by decreases in b...Read More
The price of ferrous scrap imported into India continued to climb this week, despite mixed sentiment and only limited trading towards the end of the week, sources told Fastmarkets on Friday November 15.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva, India, was calculated at $289.63 per tonne on Friday, up from $284.15 per tonne a week earlier.Deals were heard for shredded...Read More
The Turkish steel mills went through the last working day of the week with no deep-sea scrap bookings, while prices were mostly stable, sources said on Friday November 15.Offers of HMS 1&2 (80:20) grade scrap from suppliers in the United States have been steady around $260 per tonne cfr Turkey.Those offers compared with the most recent US cargo sold at a similar price on November 13.A steel mill i...Read More
Seaborne coking coal prices saw little movement on Friday November 15 amid divided opinion on the impact that the latest import restrictions at Chinese ports would have on the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.81 per tonne, down $0.72 per tonnePremium hard coking coal, cfr Jingtang: $147.82 per tonne, down $1.42 per tonneHard coking coal, fob DBCT: $120.70 per tonn...Read More
China's rebar prices continued to rise on Friday November 15, though traders have started to become more cautious about the market losing its upward momentum.DomesticEastern China (Shanghai): 3,860-3,900 yuan ($550-555) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,700-3,720 yuan per tonne, up 20-30 yuan per tonneDemand was robust, especially in eastern China, amid continual gains...Read More
China's hot-rolled coil producers raised their offers on Friday November 15 on strong buying activity throughout this week.DomesticEastern China (Shanghai): 3,590-3,600 yuan ($511-513) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,560 yuan per tonne, unchangedSpot prices in eastern China edged up after mills raised their offers by 20 yuan per tonne during the day in response to robus...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Stainless steel prices in the European domestic market were unchanged this week, with market participants monitoring nickel prices to gauge how the alloy surcharge for December might develop, sources told Fastmarkets on Friday November 15. Alloy surcharges for December will be calculated based on nickel prices from October 21 to November 20. So far the average value of the nickel th...Read More
An overview of the noble alloys markets and their latest price moves.Read More
Fastmarkets has corrected its UK and Rotterdam export steel scrap prices, which were published incorrectly on Friday November 8. Fastmarkets' price assessment for steel scrap HMS 1&2 (80:20 mix) export, fob main port UK was published in error on November 8 at $253-255 per tonne, but has been corrected to $232-234 per tonne. Fastmarkets' price assessment for steel scra...Read More
Steelmakers in Germany have settled their monthly steel scrap contracts for November with an average month-on-month rise of ?,?25-30 ($28-33) per tonne, sources told Fastmarkets this week.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap), domestic, delivered mill Germany, was ?,?225-235 ($248-259) per tonne in the middle of November, up from ?,?195-205 per tonne i...Read More
The three-month aluminium price on the London Metal Exchange was lower at the close of trading on Thursday November 14, closing at its lowest level since late-October, while zinc's outright price similarly fell to its lowest level in just over a month.Aluminium's outright price on the LME closed at $1,742 per tonne on Thursday afternoon, its lowest closing price since October 28, although turnover...Read More
The fob Australia price for alumina has hovered around the $280 per tonne mark in relatively liquid trading over the week ended Thursday November 14.Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $281.10 per tonne on Thursday, up from $279.72 per tonne on the previous day.Key drivers Market participants heard of several deals throughout the week, for a combined total o...Read More
The three-month aluminium price on the London Metal Exchange was little moved during morning trading on Thursday November 14, ignoring a fresh inflow of more than 78,000 tonnes into LME-registered Asian warehouses.Price action in the light metal was recently seen at $1,764 per tonne, just a dollar below Wednesday's closing price. Turnover was moderate, with just under 2,350 lots exchanged as of 9:...Read More
Fastmarkets MB will from next month display in the Price Book calculated price midpoints and averages that are rounded to two decimal places.This will ensure consistency of published values across all of Fastmarkets MB's delivery channels.Where Fastmarkets MB publishes prices as a low-high range, users have the option to view the calculated midpoint of that range. From Monday December 9, Fastmarke...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday November 14 that are worth another look.China's annual scrap consumption could reach 330 million tonnes by 2030 and account for up to half of the country's steel output, according to the China Association of Metal Scrap Utilization (Camu).Copper miners and smelters look set to agree the lowest annual benchmark for concentrate i...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe and China.To view the latest price assessments, follow the links below:Europe- Ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe, $/kg V- Vanadium pentoxide 98% V2O5 min, in-whs Rotterdam, $/lb V2O5China- Ferro-vanadium 78% V min, fob China, $/kg V- Vanadium pentoxide 98% V2O5 m...Read More