The three-month lead price on the London Metal Exchange was higher at the close of trading on Thursday October 3, with the price closing above $2,100 per tonne amid thin volumes, while copper futures failed to test nearby resistance.Lead's outright price closed at $2,129 per tonne in the afternoon, its highest close since September 30 at $2,131 per tonne, which marked a seven-month high in lead fu...Read More
The 15-million-tonnes-per-year Olive Downs coking coal project in Australia's Bowen Basin has received environmental approval, its operator said amid a quiet seaborne market in the absence of Chinese participants.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob DBCT: $123.13 per tonne, unchang...Read More
Turkish steel mills have continued to book deep-sea scrap cargoes for November deliveries, with prices recovering slightly on improving sentiment, sources said on Thursday October 3.A steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded and 5,000 tonnes of bonus at an average price of $225 per tonne cfr.The price of the HMS...Read More
Turkish domestic rebar prices have inched down over the past week despite demand remaining limited, sources said on Thursday October 3.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was TRY2,730-2,780 ($478-486) per tonne on Thursday, widening down on the low end from TRY2,750-2,780 per tonne ex-works last week.Domestic...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday October 3 that are worth another look.Ukrainian steel billet producer Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD) has decided not to resume operations in part of its main production facility after a maintenance outage, due to the crisis in the global steel market, the company announced on Wednesday October 2.Fastmarkets...Read More
Netherlands-based logistics service provider Verbrugge International's chief commercial officer Anton Verburgge will leave his position at the start of next year, according to a notice released by the company on Monday September 30. Anton began his tenure at Verbrugge International in February 2016 after operations roles at Glencore and sustainably-focused delivery service Gnewt. He now plans to f...Read More
The three-month copper price on the London Metal Exchange was little moved during morning trading on Thursday October 3, with price action predominantly unaffected by a fresh inflow of some 36,175 tonnes.Copper's outright price on the LME was recently seen trading at around $5,670 per tonne, a drop of just 0.3% from Wednesday's closing price of $5,678 per tonne, while turnover was moderate with so...Read More
Brazil has decided to extend anti-dumping duties covering heavy steel plate from China, South Africa, South Korea and Ukraine for five years, the country's foreign trade and international affairs secretariat, Secex, said on Tuesday October 1.While South Africa remained on the restriction list, its anti-dumping tariff was suspended, the document, published in the federal official gazette,...Read More
While the US flat-rolled and plate import markets remained mostly quiet over the past two weeks, an increased number of low-priced hot-rolled coil offers were heard from overseas suppliers, reflecting expectations of continued softness in the domestic steel market.Hot band prices in the United States have fallen sharply because of a lack of demand, with major downstream steel consuming sector...Read More
Reinforcing bar prices in the United States have resumed their downward trek, propelled by declining ferrous scrap prices, slowing demand in certain regional markets and competitively priced imports. Fastmarkets' assessment for steel rebar, fob mill US was at $30-31 per hundredweight ($600-620 per short ton) on Wednesday October 2, down by 3.9% from $31-32.50 per cwt previously and the lowest...Read More
Ukrainian steel billet producer Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD) has decided not to resume operations in part of its main production facility after a maintenance outage, due to the crisis in the global steel market, the company announced on Wednesday October 2.DKMD decided to idle blast furnace (BF) No9, which can produce 800,000 tonnes per year of pig iron, and BF No12 which has...Read More
The increase in global freight rates caused by tighter emissions control regulations is putting pressure on steel product exporters already facing reduced demand and falling raw materials and steel prices, Fastmarkets has learned. From January 1, 2020, new International Maritime Organization (IMO) regulations come into force to help reduce air pollution from ships globally. Kno...Read More
Seaborne iron ore prices stayed flat on Thursday October 3, with Chinese market participants absent due to the week-long public holiday in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.38 per tonne, unchanged.62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged.58% Fe fines high-pre...Read More
The 15-million-tonnes-per-year Olive Downs coking coal project in Australia's Bowen Basin has received environmental approval, its operator said amid a quiet seaborne market in the absence of Chinese participants.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob DBCT: $123.13 per tonne, unchang...Read More
India's federal government has mandated that state governments in the country extend the iron ore mining leases of state-owned companies in blocks of up to 20 years if such applications are made at least 12 months prior to their expiry.The move is an effort to ensure a stale supply of domestic iron ore next year, with the leases of 31 mines - affecting some 60-80 million tonnes - set to expire on...Read More
Seaborne iron ore prices remained flat on Wednesday October 2, with the market largely muted amid the week-long public holiday in China from October 1-7.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.38 per tonne, unchanged.62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged.58% Fe fines high-...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back.Fastmarkets pricesClick here for Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam, $ per lbClick here for Fastmarkets' price assessment for cobalt, alloy grade, in-whs Rotterdam, $...Read More
Fastmarkets looks at the key takeaways from the annual Fastmarkets North American Ferro-alloys conference in Chicago on September 25-27. Slowing economic, steel production growth will weigh on ferro-alloys prices Ferro-alloys prices will continue to fall going into 2020 because of slowing economic growth and falling steel production, Fastmarkets analyst Amy Bennett told delegates in Chicago last w...Read More
A judge in the United Kingdom has ruled that broker Marex Spectron must pay up to $32 million in losses to French bank Natixis stemming from a case of forged warehouse receipts more than two years ago.The court found both Marex Spectron and Glencore-owned Access World negligent.Natixis sued Marex Spectron and Access World in 2017 over fraudulent receipts. Marex rejected the lawsuit, and a trial wa...Read More
The London Metal Exchange three-month nickel price rose by 1.4% to close at $17,475 per tonne on Wednesday October 2 from $17,220 per tonne the previous day. The three-month nickel price has been buoyed by a 5,802 tonne outflow from LME approved warehouses recorded on the same day alongside a 2,964 tonne fresh cancelation. Sentiment was buoyant despite a paltry 3,774 lots changing hands by close o...Read More