Turkish deep-sea scrap prices have shown a slight uptick with news of a fresh European cargo trade, but the market direction was still unclear, sources said on Tuesday September 24.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) at $220 per tonne and 10,000 tonnes of shredded at $230 per tonne cfr.News of the cargo raised the daily scrap i...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday September 24 that are worth another look.The long-lasting downtrend in the international scrap market, which has pushed prices to three-year lows this month, has led to the point where steelmakers which use electric-arc furnaces (EAFs) have a significant advantage over those equipped with blast furnaces (BFs), which use iron ore...Read More
Five private copper smelters in China have halted production because processing at market terms has become unfeasible due to a combination of weakening demand for end products, a tight copper concentrates market and the higher costs of complying with pollution standards.The smelters involved are Top-Eastern Copper in Liaoning, Jinshui Copper and Kaitong Group in Yunnan, Laizhou Fangtai in Shandong...Read More
Fastmarkets published its monthly Shanghai, nickel premium, 99.80% purity briquette, on a duty free cif basis, two minutes later than scheduled on Tuesday September 24 due to an unforeseen market shift from a premium to a discount.The following price was published in Fastmarkets' price book later than scheduled:Shanghai, nickel premium, 99.80% purity briquette, duty free, cif, $ per tonne For more...Read More
Fastmarkets published its alumina index, fob Australia 23 minutes later than scheduled on Tuesday September 24 due to a technical issue during the pricing discovery process. The following price was published in Fastmarkets' price book later than scheduled: Alumina index, fob Australia, $/tonne For more information on or to provide feedback on the delayed publication of this index or if you wo...Read More
Several large aluminium companies were now producing metal with low carbon emissions, but not all consumers were yet willing to pay a premium for the material, industry executives have said.But this was expected to change in the future, and will in part create incentives for other producers to decarbonize, they told a panel at the Fastmarkets International Aluminium Conference in Athens, Greece."S...Read More
The long-lasting downtrend in the international scrap market, which has pushed prices to three-year lows this month, has led to the point where steelmakers which use electric-arc furnaces (EAFs) have a significant advantage over those equipped with blast furnaces (BFs), which use iron ore as a feed.That was the conclusion made by the raw materials committee of the International Rebar Exporters & P...Read More
Flat-rolled steel sales volumes reported by Brazilian distributors totaled 280,000 tonnes in August 2019, falling by 6.4% from 299,200 tonnes in the corresponding month a year before, distributors' association Inda said on Tuesday September 24.Imports decreased by 9.5% on the same basis of comparison to 89,800 tonnes, from 99,200 tonnes, Inda's data showed.The distributors purchased 279,700 tonnes...Read More
Mexico's largest integrated steelmaker, Altos Hornos de M?(C)xico (Ahmsa), has been considering capitalization options, including the sale of its ownership stake or building a partnership with another company."Regarding information published today about an alleged process of sale of the company, Ahmsa affirms it has been working with several options for capitalization or partnership with many indu...Read More
The Association of South East Asian Nations (Asean) is expecting a large number of steelmaking projects dedicated to both flat and long steel production in the next decade, covering not only regional demand but also excess volumes that may be exported, according the South East Asia Iron and Steel institute (SEAISI). The Asean regional intergovernmental organization comprises the Philippines, Indon...Read More
The prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have fallen this week on continuing limited demand, sources told Fastmarkets on Tuesday September 24.Buyers did not want to book big tonnages before prices hit bottom, they said.UAEOffer prices for hot-rolled coil (HRC) from China were heard at $450-460 per tonne cfr this week, with offers of India- and Japa...Read More
Import prices for steel billet and rebar in the United Arab Emirates fell this week because of soft demand, and rebar prices were also expected to decline, sources said on Tuesday September 24.Market participants expected that new domestic rebar prices would be announced in the near future, Fastmarkets heard.Billet importsBillet was on offer from Oman at about $405-410 per tonne cpt, and $390 per...Read More
Steel hot-rolled sheet prices in Russia's Central Federal District around Moscow have declined over the week to Monday September 23 due to the seasonal slowdown, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 43,000-44,000 roubles ($671-687) per tonne on September 23, including 20% VAT, narrowing downward from 43,000-44,90...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction:Pig ironSouth...Read More
Restrictions on steelmaking in China that are more stringent than had been expected meant that both iron ore demand and prices were reduced on Tuesday September 24.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.83 per tonne, down by $3.29 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.22 per tonne, down by $3.29 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.84 per tonne,...Read More
Bearish sentiment continues to grip the seaborne coking coal market, where prices fell to a three-year low this month.Premium hard coking coal, fob DBCT: $128.19 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $153.98 per tonne, down $1 per tonneHard coking coal, fob DBCT: $122.50 per tonne, unchangedHard coking coal, cfr Jingtang: $132.76 per tonne, unchangedLow-vol PCI, fob DBCT: $98...Read More
Ongoing steelmaking restrictions continued to support prices for hot-rolled coil in China on Tuesday September 24.DomesticEastern China (Shanghai): 3,660-3,670 yuan ($515-516) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, unchangedSpot prices remained largely at Monday's levels amid optimism due to the emergence of more details surrounding steelma...Read More
China's domestic rebar prices continued their upward on Tuesday September 24 amid sustained bullishness. Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($521-525) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,590-3,630 yuan per tonne, up 20 yuan per tonneShort-term production restrictions in Hebei province's Tangshan city and in Shandong province continued to provide support to s...Read More
The three-month copper price on the London Metal Exchange increased during morning trading on Tuesday September 24, with the price climbing against a fresh cancellation of over 21,000 tonnes while the rest of the complex declined amid light turnover.Copper's three-month price was recently at $5,805 per tonne, climbing up by just 0.2% from Monday's close at $5,778 per tonne but breaching nearby res...Read More
Base metals prices on the Shanghai Futures Exchange were largely in negative territory during the morning trading session on Tuesday September 24 after renewed concerns about a weak global economy dampened investors' appetite for commodity investment. These concerns were reignited following the release of disappointing manufacturing data from across Europe on Monday."The euro area manufacturing pu...Read More