Export prices for hot-rolled and cold-rolled coil from the Commonwealth of Independent States continued to fall during the week ended Monday October 28, although market sources told Fastmarkets they doubted the market could decline much further. Fastmarkets' price assessment for steel HRC export, fob Black Sea, CIS was $360-375 per tonne on October 21, down from $375-385 per tonne a week ear...Read More
A new Singapore Steel Forum will kick off for the first time next year as part of Singapore Iron Ore Week (SIOW) 2020.Fastmarkets will drive the forum together with the Singapore Exchange (SGX) and Enterprise Singapore as part of an expanded SIOW, which will be held on May 18-21 2020 at Sands Expo & Convention Centre. The Singapore Steel Forum will be held on May 20 and will include global steelma...Read More
Chinese steelmakers kept their export offers for hot-rolled coil unchanged on Tuesday October 29 amid a stable domestic market.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($495-498) per tonne, unchangedNorthern China (Tangshan): 3,500 yuan per tonne, unchangedSteady demand kept domestic prices unchanged during the day.A Shanghai-based trader thinks demand will be sustained for several days...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
The decline in Asian hot-rolled coil prices has continued to apply downward pressure on slab prices in the region, sources told Fastmarkets.Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia, was $375-380 per tonne on Monday October 28, as compared with $370-385 per tonne from a week earlier.During the week to Monday, a Russian producer...Read More
Seaborne iron ore prices were down on Tuesday October 29 amid market uncertainty about demand levels in winter.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.64 per tonne, down $1.34 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.46 per tonne, down $1.34 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.25 per tonne, down $1.40 per tonne.58% Fe fines high-prem...Read More
Seaborne coking coal prices remained steady on Tuesday October 29, although spot market activity emerged in the pulverized coal injection (PCI) sector.Fastmarkets indicesPremium hard coking coal, fob DBCT: $146.40 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $161.53 per tonne, unchangedHard coking coal, fob DBCT: $129.36 per tonne, unchangedHard coking coal, cfr Jingtang: $141.14 pe...Read More
The US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctions against producer UC Rusal was potentially deadly for a company so heavily reliant on international trade, Lord Greg Barker, executive chairman of EN+ Group said.Speaking at the LME Week seminar on Monday October 28, Barker said working to find a way for the sanctions to be lifted was 'do or die' for the company."...Read More
The aluminium industry needs to be transparent about its carbon emissions and the London Metal Exchange has a key role to play in ensuring this happens, Lord Greg Barker said in an interview at LME Week 2019.Being interviewed by LME chairman Sir Brian Bender on Monday October 28, the executive chairman of EN+ Group said that, to ensure this happens, the LME should publish the carbon...Read More
The three-month nickel price on the London Metal Exchange increased during morning trading on Tuesday October 29, with news of Indonesia's imposition of a ban on exporting raw ore bolstering its price action. Although the news of the ban did little to boost price action on Monday, nickel futures were recently trading 1.1% higher at $16,735 per tonne. Correspondingly, nickel's traded volumes w...Read More
U.S. equity indices were higher this morning. S&P 500 futures were up 2 point in pre-opening trade. Investors are waiting for news from the Federal Reserve on the Fed Fund rate to be released at 2:00 PM EDT. Consensus is that the Federal Reserve will lower the Fed Fund rate by another 0.25%.Index futures were virtually unchanged following release of economic news prior to opening. Consensus fo...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Monday October 28, falling by a little less than 2% against high turnover, while copper's outright price breached nearby resistance.Nickel's outright price closed at $16,640 per tonne, while some 9,730 lots were exchanged by the close. The metal reached an intraday high of $17,025 per tonne, its highest...Read More
The premium for aluminium billet in the United States fell to a record low on Friday October 25 due to to continued sluggish demand, while premiums in Europe and Brazil remained under pressure. US premium at record lowEuropean traders holding onto $300 per tonne levelLow spot demand in BrazilThailand premium falls US billet premium drops to all-time lowFastmarkets' aluminium 6063 extrusion billet...Read More
Responsible sourcing is top of the agenda for many companies in the metals space, partly driven by the LME's push for an industry standard, yet an LME Week panel discussion suggested the industry could do so much more. Speaking at an LME Week 2019 discussion on environmental sourcing on Monday October 28, panelists from APG Asset Management, Trafigura and the World Economic Forum set out...Read More
Positive sentiment continued to buoy the Chinese and European ammonium paratungstate (APT) markets although spot activity remained subdued in both.But the ferro-tungsten price in Europe fell after suppliers scrambled to meet a large inquiry from a consumer.The Chinese APT export price was unchanged week on week against a backdrop of falling tungsten concentrate prices and quiet demand abroad. Fast...Read More
Shipments of chrome ore to China climbed to 1.5 million tonnes in September, their highest since March 2018, according to official but unconfirmed data seen by Fastmarkets. China imported 11.4 million tonnes of chrome ore in the first nine months of 2019, up from 11 million tonnes in the same period of last year. The seaborne chrome ore price dropped quickly from the start of April before bottomin...Read More
Rising stocks and imports weighed on chrome ore prices in China last week while imported alloy prices dropped because of plentiful local supply. Chrome ore prices down amid high inventories and imports Spot domestic Chinese alloy prices held in slow trading Imported alloy prices dropped under selling pressure US alloy prices tick up despite thin spot tradingEuropean price range narrows in balanced...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday October 25.ChinaKey drivers The Chinese silicon 553 export price rose in response to higher offers from domestic refiners against a backdrop of tight supply for the looming dry season from November to May in the country when refiners in the Sichuan and Yunnan provinces cut output due to a lack of cheap hydroelectric power....Read More
Turkish steel mills began the week in silence due to a public holiday in the country reducing trading activity, sources told Fastmarkets on Monday October 28. With a half-day public holiday taking place in Turkey on Monday, and Tuesday being a holiday for the Republic Day of Turkey, low levels of trading are expected in the deep-sea markets. The most recent trade reported to Fastmarkets&...Read More
Turkish domestic auto bundle scrap prices have increased over the past week in line with the rises in imported scrap values, sources said on Monday October 28.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,385-1,555 ($239-268) per tonne on Monday, up from the TRY1,380-1,505 per tonne of last week.Two steel mills raised their buy prices...Read More