Turkish rebar and wire rod export prices fell in the week to Thursday September 12, in line with the downturn in imported scrap values, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey, was $410-415 per tonne on Thursday, down from last week's $430-435 per tonne, on an actual-weight basis.Earlier in the week, Tur...Read More
Prices in Southeast Asia's steel billet market dipped on Thursday September 12, in response to an ongoing price war between Indian and Russian billet suppliers, sources said.Russian billet was offered at $417-420 per tonne cfr Manila and Thailand, while Indian billet was available at $415-420 per tonne cfr Manila and Thailand.Market sources believe that offers at the low end of the range for India...Read More
China's domestic hot-rolled coil prices widened on Thursday September 12, having fallen earlier in the day due to lower offers before rising in the latter half on rising futures.DomesticEastern China (Shanghai): 3,680-3,710 yuan ($517-521) per tonne, widened by 10 yuan per tonne on both endsNorthern China (Tangshan): 3,600-3,630 yuan per tonne, widening upward by 10 yuan per tonneIn Shanghai, few...Read More
Seaborne iron ore prices surged on Thursday September 12 amid support from Chinese steelmakers stocking up ahead of the week-long National Day holiday at the start of October.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $99.30 per tonne, up $4.64 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $99.69 per tonne, up $4.64 per tonne.62% Fe low-alumina fines, cfr Qingdao: $...Read More
Chinese end users generated some buying activity in the seaborne coking coal market on Thursday September 12 ahead of a public holiday in China to mark the Mid-Autumn Festival.Premium hard coking coal, fob DBCT: $149.34 per tonne, down $0.30 per tonne Premium hard coking coal, cfr Jingtang: $167.76 per tonne, down $1.63 per tonneHard coking coal, fob DBCT: $131.75 per tonne, unchangedHard coking c...Read More
The CME Group will launch two gold futures contracts on October 14 this year, pending regulatory approval, in a move that will see it begin to collaborate with the world's largest physical gold exchange, the Shanghai Gold Exchange (SGE).The two new financially settled contracts will be denominated in US dollars and the offshore Chinese yuan accordingly, with contract sizes currently set at 1kg, Un...Read More
Sebastian Voigt, former global sales director at Hunan Jinwang Bismuth, has joined Hong Kong-based minor metals company Fortis Group as head of sales, he told Fastmarkets on Thursday September 12.Voigt will be based in Germany, where he will be in charge of global commercial activities for Fortis Group.Prior to his role at Hunan Jinwang Bismuth, Voigt was chief executive officer at Jinwang Europe....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 11.Key drivers The ferro-titanium market was stable for the second consecutive week, with prices in a holding pattern until consumer tenders for deliveries in the fourth quarter are settled. Quarterly delivery contracts for shipment between October and December were expected to be agreed by the end of September. No deals h...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Index futures responded to news that China will lift punitive tariffs on U.S. soybeans and pork.Index futures were virtually unchanged following release of August Retail Sales at 8:30 AM EDT. Consensus is an increase of 0.2% versus an upwardly revised gain of 0.8% in July. Actual was up 0...Read More
The three-month price of tin on the London Metal Exchange was higher at the close of trading on Wednesday September 11, settling at its highest level since June 21, while a steady downturn across the rest of the complex saw copper fall through its nearby $5,800 per tonne support level.Tin futures traded at an intraday high of $17,750 per tonne, climbing by more than 12% since falling to a four-yea...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 11.Please click...Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 11 that are worth another look.Australian multi-metal miner Blackstone Minerals considers Vietnam a reliable and equitable jurisdiction for nickel production and export once the Indonesian ore export ban comes into effect in January 2020, chief executive officer Scott Williamson told Fastmarkets last week.Zambian cop...Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
The recent rise in ferro-vanadium and vanadium pentoxide (V2O5) import interest in China will likely add further downward pressure on the Chinese domestic market, market sources told Fastmarkets during the Ferro-alloynet International Vanadium Conference on Tuesday September 10. Some Chinese domestic traders have turned to importing vanadium products into China, stimulated by the continued wide pr...Read More
An overview of the minor metals markets and their latest price moves.Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
Turkish steel mills stayed out of the deep-sea scrap market and continued to push for lower prices on Wednesday September 11, sources told Fastmarkets.There have been no bookings confirmed since a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr late on Monday.The steel mills...Read More
Australian multi-metal miner Blackstone Minerals considers Vietnam a reliable and equitable jurisdiction for nickel production and export once the Indonesian ore export ban comes into effect in January 2020, chief executive officer Scott Williamson told Fastmarkets last week. With estimated refined production capacity of 10,000 tonnes per year, the company plans to develop its newly-acquired Vietn...Read More
China's hot-rolled coil prices dropped on Wednesday September 11 after buying interest thinned further.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($519-520) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,600-3,620 yuan per tonne, down 10-20 yuan per tonneSources in both eastern and northern China said trading was sparse during the day amid softening futures.A Tianjin-base...Read More