China's steel mills posted a fall in profits in the first eight months of the year on weakening steel prices and costly raw materials. Profit in the country's steelmaking industry totaled 179.94 billion yuan ($25.17 billion) in January-August 2019, down by 32.3% year on year and deepening the drop in the month prior of 26.4% on an annual basis, according to the National Bureau of Statistics. Most...Read More
Turkish prices for hot-rolled and cold-rolled coil (HRC, CRC) have continued to fall over the past week on low demand, sources told Fastmarkets on Friday October 11.The uncertainty in the market persisted after Turkey started a military operation in Syria.On October 9, Turkey launched "Operation Peace Spring" in the area east of the Euphrates River in northern Syria, intended to secure its own bor...Read More
China has been ramping up its imports of merchant iron metallics in recent months because of the price competitiveness of such products as October progresses, market participants have told Fastmarkets.In August alone, China imported 234,601 tonnes of direct-reduced iron (DRI), more than its annual volumes in each of the past four years, according to customs data. Imports of DRI for January-August...Read More
The inter-merchant spot market for UK-origin light iron scrap was steady in the week ended Friday October 11, extending stability after losses in September against a small recovery in European export prices to traditional markets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($74-98) per tonne on Friday.European steel scrap p...Read More
Steelmakers in the UK have won a round of price cuts in their monthly intake of ferrous scrap from domestic suppliers for October delivery contracts, amid a slowdown across the European steels sectors, Fastmarkets heard on Friday October 11.The UK monthly steel scrap market to domestic consumers has settled with prices down by an average of about ?35 ($43) per tonne.Persistent weakness in consume...Read More
Prices for ferrous scrap imported into India have begun to inch up for the first time in 13 weeks on a change in sentiment that developed after prices stabilized on the international scrap markets, sources told Fastmarkets on Friday October 11.Fastmarkets' weekly assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $253.56 per tonne on Friday, up from $251.34 per tonne...Read More
Turkish steel producers continued to stay out of the deep-sea scrap markets at the end of the week despite increasing offers for the material, sources said on Friday October 11.The most recent confirmed transaction was done from the United States on October 9. A Turkish steel producer booked a cargo comprising 23,000 tonnes of HMS 1&2 (80:20) at $233 per tonne and 17,000 tonnes of shredded at $238...Read More
Seaborne coking coal prices were largely steady on Friday October 11 as participants mulled drivers, with Chinese buyers staying on the sidelines.Fastmarkets indicesPremium hard coking coal, fob DBCT: $146.62 per tonne, up $1.23 per tonnePremium hard coking coal, cfr Jingtang: $159.50 per tonne, unchangedHard coking coal, fob DBCT: $123.13 per tonne, unchangedHard coking coal, cfr Jingtang: $134.0...Read More
Physical iron ore prices were rangebound on Friday October 11, with some low-alumina products showing signs of recovery.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.76 per tonne, up by $0.08 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.25 per tonne, down by $1.98 per tonne.62% Fe low-alumina fines, cfr Qingdao: $92.90 per tonne, up by $0.82 per tonne.58% Fe fines high-premi...Read More
The Singapore Exchange's (SGX) 65% Fe iron ore derivative contract registered its first 2020 trades this week as well as posting its highest single-day of traded volumes since its launch. A total of 5,670 lots or 567,000 tonnes of the contract were traded and cleared on Friday October 11 as of 7pm Singapore time.A day earlier, 670 lots of January and February 2020 month contracts were also traded...Read More
China's hot-rolled coil prices dropped on Friday October 11 with participants cautious on price trends despite robust demand. Domestic Eastern China (Shanghai): 3,570-3,580 yuan ($499-501) per tonne, down 20 yuan per tonne Northern China (Tangshan): 3,520 yuan per tonne, down 20 yuan per tonne Spot prices dropped in line with declines in the futures market, with participants being cautio...Read More
The spot silicon price in the United States has fallen into what many consider troubling territory, reaching a nearly three-year low on Thursday October 10 due to weak demand and surplus supply. Overseas suppliers have increasingly been sending silicon to the US at levels that undercut domestic producers' prices, further weighing on the market, sources said."There's a flood of impor...Read More
Key data from the October 11 pricing session in London.Key drivers:- A steady run of spot business concluded, mostly for smaller volumes either side of 5 tonnes, in the high $17s and low $18s over the course of the week. Offer prices...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday October 11:Minor metals Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $6,050-6,400 per tonne from $6,050-6,350Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $6,050-6,385 per tonne from $6,050-6,300Bismuth 99.99% Bi min, in-whs China, yuan/tonne: 39,500-41,500 yuan per tonne from 39,000-40,000 yuanCobalt 99.8% Co min,...Read More
An overview of the Chinese minor metals markets in the week ended Friday October 11, and the reasons for their latest price moves.Read More
Southwestern China's Kunming Intermediate People's Court will release cargoes of four minor metals held by the collapsed Fanya Metal Exchange for auction, it said in a notice seen by Fastmarkets on Friday October 11. The court is releasing cargoes of germanium, gallium, tellurium and...Read More
Weak spot demand for foundry alloy pushed the premium in the United States to a two-year low and the premium in Germany to an all-time low on Friday October 11.European premium 'depression' continuesPrimary aluminium foundry alloy premiums throughout Europe fell, with poor fundamentals continuing to fuel the downtrend.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium, ddp Germ...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday October 11:Aluminium ingotAluminium pressure diecasting ingot...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Thursday October 10, nearing the $2,400 per tonne resistance level against a continued drawdown of LME stocks, while copper breached nearby resistance amid moderate turnover.Zinc's outright price closed at $2,388 per tonne in the afternoon, its highest price since August 1, while volumes traded were high...Read More