Masan Tungsten, a wholly owned subsidiary of Vietnam's Masan Resources Corp, has signed an agreement to buy the tungsten business of Germany's HC Starck Group.The tungsten business purchase is a strategic step for Masan Resources in its drive to become a world-leading high-tech industrial materials manufacturer, the miner said on Tuesday, September 17.HC Starck is a leading manufact...Read More
Fastmarkets looks at the key takeaways from the seventh Fastmarkets Asian Nickel conference in Jakarta, Indonesia, on September 11-12, from who will fill the Asian supply gap from 2020 to emerging demand for nickel from the electric vehicle battery sector. Indonesian nickel ore export ban will create Chinese nickel ore shortfall China is heavily reliant on nickel ore imports from Indonesia and Phi...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday September 17 that are worth another look.Fastmarkets looks at the key takeaways from the seventh Fastmarkets Asian Nickel conference in Jakarta, Indonesia, on September 11-12, from who will fill the Asian supply gap from 2020 to emerging demand for nickel from the electric vehicle battery sector.Import prices for steel slab in S...Read More
Rising oil prices driven by shutdowns in Saudi Arabia have had a negative effect on outright copper prices, analysts told Fastmarkets on Tuesday September 17. The London Metal Exchange three-month copper price is down by 2.1% at $5,826 per tonne compared with $5,954 per tonne at the start of the week, following a 9% jump in the Brent crude oil price in the same time frame. The Brent crude oil pric...Read More
The Jakarta Futures Exchange (JFX) has launched a physical tin contract in an effort to gain precedence as a global price reference in Indonesia, which - combined with the backing of the country's trade ministry and largest state-owned tin producer - could mark a significant change in tin business out of the region. JFX launched its physical tin contract officially on August 21, exporting 1,410 to...Read More
Nickel fell on the London Metal Exchange during morning trading on Tuesday September 17 to below nearby support levels while the other base metals drifted lower in low-liquidity conditions.The three-month nickel price recently traded at $16,970 per tonne, a drop of around 1.8% from Monday's closing price of $17,370 per tonne and the steepest fall across the complex this morning.Volumes were modera...Read More
Hot-rolled coil (HRC) import prices into the United Arab Emirates and Saudi Arabia fell this week, on continuing limited demand, sources told Fastmarkets on Tuesday September 17. Buyers do not want to book big tonnages before prices hit bottom, they said. UAE Offer prices for hot-rolled coil (HRC) from China came in at $495 per tonne cfr this week, with offers for for India-origin m...Read More
Import prices for steel billet in the United Arab Emirates fell this week because of weak demand, and rebar prices were also expected to decline, sources said on Tuesday September 17. Market participants expect new domestic rebar prices to be announced in the near future, Fastmarkets understands. Billet imports Billet was on offer from Oman at about $405-410 per tonne cpt, but no si...Read More
Buying activity softened further in the export markets for hot-rolled coil and cold-rolled coil (HRC, CRC) from the Commonwealth of Independent States during the week ended Monday September 16, because prices have been falling too fast.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $420-435 per tonne on September 16, down from $430-438 per tonne a week earlier."There...Read More
Desheng Stainless Steel, a subsidiary of Chinese state-owned Baowu Steel, plans to start construction of a series of facilities for making crude stainless steel in eastern China's Fujian province, according to a notice released by the Fujian Industry & Information Bureau on September 12.The units will be intended to replace some capacity in Shanghai and in central China's Hubei province.Facilities...Read More
Import prices for steel slab in Southeast Asia and East Asia continued to decline over the past week because of weakness in the downstream flat steel markets caused by sluggish demand and lower prices, market sources said.Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia, fell to $405-410 per tonne on Monday September 16, its lowest level in more than two...Read More
Chinese cold-rolled coil and hot-dipped galvanized coil export prices held steady over the past week amid stable domestic demand, although trading activity remained sluggish in the export markets.Cold rolled coilFastmarkets' weekly price assessment for steel cold-rolled coil export, fob China, was $505-510 per tonne on Tuesday September 17, unchanged from a week earlier.On Tuesday, Liaoning-based...Read More
Wire rod price export prices from the Commonwealth of Independent States continued to slide over the past week due to a lack of demand and growing competition with Turkish suppliers. The Turkish steelmakers reduced their export prices last week in attempt to attract customers and, in response, offers from the CIS region -particularly from Russia - dropped to $440-445 per tonne fob Black...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market on the second working day of the week amid limited demand for finished long steel, sources told Fastmarkets on Tuesday September 17.The latest transaction was a cargo from the United States at the end of last week, which was sold at $240 per tonne cfr for HMS 1&2 (80:20), $245 per tonne for shredded and $250 per to...Read More
Seaborne iron ore concentrate prices continued to see narrower discounts last week, while pellet market activity remained lackluster.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao, stood at $99.54 per tonne last Friday September 13, up by $4.48 per tonne week on week.And Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao,...Read More
China's Dalian Commodity Exchange (DCE) has formally launched the brand delivery mechanism for its iron ore futures to replace the current delivery threshold of specifications. The new rules - aimed to cater to market demand and better serve the industry - will take effect from the September 2020 iron ore futures contract, DCE said on its website late last week. For the new physical delivery rules...Read More
Physical iron ore prices weakened on Tuesday September 17 amid losses in the futures markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $97.17 per tonne, down by $1.28 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $97.56 per tonne, down by $1.28 per tonne.62% Fe low-alumina fines, cfr Qingdao: $96.13 per tonne, down by $0.81 per tonne.58% Fe fines high-premium, cfr Qingdao: $84.56...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 transactions: iron oreIron oreBHP, Beijing Iron Ore Trading Center (Corex), 80,000 tonnes of 57.1% Fe Yandi fines, traded at the October average of two 62% Fe indices, adjusted for Fe content, plus a discount of $3.30...Read More
Offers for premium mid-vol hard coking coal plunged in the seaborne market on Tuesday September 17 after several days of inactivity.Premium hard coking coal, fob DBCT: $144.08 per tonne, down $4.07 per tonnePremium hard coking coal, cfr Jingtang: $160.63 per tonne, down $7.13 per tonne Hard coking coal, fob DBCT: $131.75 per tonne, unchangedHard coking coal, cfr Jingtang: $150.26 per tonne, unchan...Read More
China's domestic rebar prices held steady on Tuesday September 17 amid falling futures and an inactive market. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($526-530) per tonne, unchangedNorthern China (Beijing): 3,640-3,670 yuan per tonne, unchangedSellers kept their prices flat to wait for more changes in the futures market, sources said.Market participants did not see a clear trend in th...Read More