Chinese mills lowered export offers for hot-rolled coil on Tuesday October 22 despite a stable domestic market amid pressure from cheaper products offered by suppliers in other regions.DomesticEastern China (Shanghai): 3,500-3,510 yuan ($495-496) per tonne, unchangedNorthern China (Tangshan): 3,480 yuan per tonne, unchangedTrading was moderate during the day maid steady demand, which kept spot pri...Read More
Import prices for steel billet and rebar in the United Arab Emirates increased over the past week, with domestic rebar prices remaining stable, market sources said on Tuesday October 22.Domestic prices for rebar for the month were announced by the country's producers on October 21. Both Emirates Steel and Conares Steel kept their prices unchanged.Billet importsBillet bookings were made from Oman a...Read More
CIS rebar and wire rod producers increased offers for foreign customers in the second half of October following the recovery of scrap and billet prices globally.But buying activity remained limited as customers waited to see more evidence of market stabilization and improvement of demand from end-users.Early last week, offers for Russian wire rod were reported at $425 per tonne fob Black Sea, with...Read More
China's domestic prices for rebar held steady for a second day on Tuesday October 22 despite gains in the futures market, with participants taking a wait-and-see approach before deciding whether to engage in arbitrage trading.Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedRebar futures went from a low of 3,28...Read More
Prices for most grades of ferrous scrap in Mexico fell in the week ended Friday October 18, with mills continuing to apply price cuts while they adjusted to recent settlements in the United States and other regions.One mill in the Baj?-o region applied a price cut of 200 pesos ($10.45) per tonne last week. And although its supply of scrap has reduced, it has so far given no sign of reversing this...Read More
Turkish steel producers remained silent in the deep-sea scrap markets for the second consecutive day, while offers for scrap stayed firm, sources said on Tuesday October 22.Steel mills have been largely active in the deep-sea markets in previous weeks, booking material for November deliveries. Turkish steelmakers have booked 16 deep-sea cargoes since the start of the month, totaling...Read More
Seaborne iron ore prices increased on Tuesday October 22 after Vale lowered its sales expectation, while the spread between 65% and 62% Fe indices continued to widen.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.68 per tonne, up $1.28 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.33 per tonne, up $1.28 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.27 per tonne, up $1.0...Read More
Import prices for steel billet and rebar in the United Arab Emirates increased over the past week, with domestic rebar prices remaining stable, market sources said on Tuesday October 22.Domestic prices for rebar for the month were announced by the country's producers on October 21. Both Emirates Steel and Conares Steel kept their prices unchanged.Billet importsBillet bookings were made from Oman a...Read More
China's domestic prices for rebar held steady for a second day on Tuesday October 22 despite gains in the futures market, with participants taking a wait-and-see approach before deciding whether to engage in arbitrage trading.Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedRebar futures went from a low of 3,28...Read More
China's ferro-silicon market was split between a weakening export price and a steady domestic price last week, with exporters battling soft demand and supplier competition while production cuts supported domestic rates.In Europe, prices have consolidated recent price gains, although the recent rally looks short-lived because export offers into Europe have appeared from Kazakhstan. There are no ant...Read More
Anglo American has raised the 2019 iron ore production guidance for its Minas Rio operations in Brazil while maintaining that for its Kumba operations in South Africa.The miner now expects Minas Rio to produce 20-22 million tonnes of the steelmaking raw material, compared with 19-21 million tonnes previously, it said in its third-quarter production report published on Tuesday October 22.The miner...Read More
Prices for most grades of ferrous scrap in Mexico fell in the week ended Friday October 18, with mills continuing to apply price cuts while they adjusted to recent settlements in the United States and other regions.One mill in the Baj?-o region applied a price cut of 200 pesos ($10.45) per tonne last week. And although its supply of scrap has reduced, it has so far given no sign of reversing this...Read More
The benchmark London Metal Exchange cash/three-month spread is once more trading in a contango of around $20 per tonne on Tuesday October 22 following a period of deep and sustained backwardation up until yesterday when the spread was in a $108 per tonne backwardation. The LME cash/three-month nickel spread has traded in an intermittent backwardation since January 2019. It slipped into a $39 per t...Read More
Turkish steel producers remained silent in the deep-sea scrap markets for the second consecutive day, while offers for scrap stayed firm, sources said on Tuesday October 22.Steel mills have been largely active in the deep-sea markets in previous weeks, booking material for November deliveries. Turkish steelmakers have booked 16 deep-sea cargoes since the start of the month, totaling...Read More
Import prices for steel billet and rebar in the United Arab Emirates increased over the past week, with domestic rebar prices remaining stable, market sources said on Tuesday October 22.Domestic prices for rebar for the month were announced by the country's producers on October 21. Both Emirates Steel and Conares Steel kept their prices unchanged.Billet importsBillet bookings were made from Oman a...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday October 22 that are worth another look.Anglo American has raised the 2019 iron ore production guidance for its Minas Rio operations in Brazil while maintaining the one for its Kumba operations in South Africa.Europe's largest copper producer, Aurubis, has announced its annual copper cathode premium for 2020 at $96 per tonne, unc...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
The benchmark London Metal Exchange cash/three-month spread is once more trading in a contango of around $20 per tonne on Tuesday October 22 following a period of deep and sustained backwardation up until yesterday when the spread was in a $108 per tonne backwardation. The LME cash/three-month nickel spread has traded in an intermittent backwardation since January 2019. It slipped into a $39 per t...Read More
Seaborne iron ore prices increased on Tuesday October 22 after Vale lowered its sales expectation, while the spread between 65% and 62% Fe indices continued to widen.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.68 per tonne, up $1.28 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.33 per tonne, up $1.28 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.27 per tonne, up $1.0...Read More
A wide spread of offers emerged in the seaborne coking coal market on Tuesday October 22, though these did not translate into transactions.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.40 per tonne, up $0.63 per tonnePremium hard coking coal, cfr Jingtang: $164.70 per tonne, down $0.06 per tonneHard coking coal, fob DBCT: $129.92 per tonne, unchangedHard coking coal, cfr Jingtang: $1...Read More