Indian domestic secondary billet prices gained 500 rupees ($7) per tonne in the week to Friday November 1 due to long steel producers increasing their semi-finished steel buying.Fastmarkets' price assessment for steel billet domestic, ex-works India, rose by 500 rupees per tonne to 26,500-26,700 rupees per tonne on November 1, compared with last week's 26,000-26,200 rupees per tonne...Read More
Brazilian iron ore export volumes and revenues dropped year-on-year in October due to supply disruptions, according to figures released by the country's economy ministry on Friday November 1.Export volumes of iron ore declined to 31.20 million tonnes in October, down by 16.1% from 37.19 million tonnes a year earlier.Iron ore shipments from the country fell this year in an annual comparison, becaus...Read More
A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session this week."Steel is going to drift a bit lower, but not collapse," Citi research analyst Tracy Liao told delegates on Thursday October 31, "[and] iron ore will go quite a bit lower, whereas coking coal prices will go up." Liao said that wh...Read More
Major holidays in Turkey resulted in thin spot liquidity in the global scrap markets in the week ended Friday November 1, with US exporters seeing limited sales to the major import market.But prices in Asia have surged following those in the rest of the world, with Vietnamese buyers accepting higher prices. Taiwanese demand eased slightly after the flurry of purchasing activity last week. Turkey m...Read More
A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session this week."Steel is going to drift a bit lower, but not collapse," Citi research analyst Tracy Liao told delegates on Thursday October 31, "[and] iron ore will go quite a bit lower, whereas coking coal prices will go up." Liao said that wh...Read More
Brazilian slab export prices were stable in the week ended Friday November 1, as producers had limited ability to reduce their offers due to iron ore costs.Fastmarkets' weekly assessment of steel slab exports, fob Brazil, was unchanged at $355-360 per tonne on Friday.Offers from Brazil were within the range of $350-360 per tonne fob, level with the previous week, and latest deals have been closed...Read More
Prices in Southeast Asia's steel billet market remained stable on Friday November 1, with a closing arbitrage window between international prices and domestic Chinese prices, sources told Fastmarkets.Market participants said buyers in Southeast Asia were not willing to pay higher prices because they did not need materials urgently and were not being outbid by Chinese importers in the spot market.F...Read More
The prices of stainless steel flat products in Europe decreased this week because of persistently weak demand, sources told Fastmarkets on Friday November 1.Fastmarkets' price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,200-2,250 ($2,454-2,510) per tonne on November 1, down by ?,?100 per tonne week on week."It's [a result...Read More
The monthly European alloy steel surcharges for November for grade-316 stainless flat steel products have decreased because of lower molybdenum costs, Fastmarkets heard on Friday November 1.Fastmarkets' range for the stainless steel cold-rolled sheet, 316, 2mm, alloy surcharge, domestic, Europe, was ?,?2,497-2,581 ($2,786-2,879) per tonne on November 1, down by ?,?13-63 per tonne from October.Allo...Read More
A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session this week."Steel is going to drift a bit lower, but not collapse," Citi research analyst Tracy Liao told delegates on Thursday October 31, "[and] iron ore will go quite a bit lower, whereas coking coal prices will go up." Liao said that wh...Read More
Brazilian iron ore export volumes and revenues dropped year-on-year in October due to supply disruptions, according to figures released by the country's economy ministry on Friday November 1.Export volumes of iron ore declined to 31.20 million tonnes in October, down by 16.1% from 37.19 million tonnes a year earlier.Iron ore shipments from the country fell this year in an annual comparison, becaus...Read More
A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session this week."Steel is going to drift a bit lower, but not collapse," Citi research analyst Tracy Liao told delegates on Thursday October 31, "[and] iron ore will go quite a bit lower, whereas coking coal prices will go up." Liao said that wh...Read More
BHP will provide $44 million of the necessary funding to resume operations at Brazilian iron ore pellet producer Samarco, the Australia-based mining company said on Friday November 1.Samarco is a joint venture between BHP and Vale and has been closed since late 2015, when a tailings dam failed and flooded the nearby Rio Doce river in southeastern Brazil.On October 25, the pellet producer received...Read More
Brazilian iron ore export volumes and revenues dropped year-on-year in October due to supply disruptions, according to figures released by the country's economy ministry on Friday November 1.Export volumes of iron ore declined to 31.20 million tonnes in October, down by 16.1% from 37.19 million tonnes a year earlier.Iron ore shipments from the country fell this year in an annual comparison, becaus...Read More
A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session this week."Steel is going to drift a bit lower, but not collapse," Citi research analyst Tracy Liao told delegates on Thursday October 31, "[and] iron ore will go quite a bit lower, whereas coking coal prices will go up." Liao said that wh...Read More
Major holidays in Turkey resulted in thin spot liquidity in the global scrap markets in the week ended Friday November 1, with US exporters seeing limited sales to the major import market.But prices in Asia have surged following those in the rest of the world, with Vietnamese buyers accepting higher prices. Taiwanese demand eased slightly after the flurry of purchasing activity last week. Turkey m...Read More
Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a lack of spot deals while annual contract negotiations kicked off during the annual London Metal Exchange Week gathering this week.Fastmarkets' copper treatment and refining charges index cif Asia Pacific was at $56.3 per tonne/5.63 cents per lb as of Friday November 1, compared with $55.9/ 5.59 cents a week earlie...Read More
Bearish macroeconomic signals and oversupply have put minor metals and ferro-alloys prices variously under pressure over 2019; the structure and terms of contracts agreed over the coming weeks will show how market participants are accounting for those signals ahead of 2020. A slowing global economy alongside uncertainty over the China-United States trade dispute and Brexit have slowed minor metals...Read More
Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More
Vinayak Bhave has joined TradeCloud as head of India to solidify the company's presence in India and Middle East, the company said on Friday November 1.Launched in October 2017, TradeCloud is a digital metals trading platform where producers, consumers and traders can meet to exchange information, negotiate contracts and conclude business. Vinayak will be based in Mumbai, India.Prior to joining...Read More