Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
An overview of the noble alloys markets and their latest price moves.Read More
Indian domestic prices for hot-rolled coil (HRC) remained stable in August with import volumes of this key upstream commodity coming to a halt, Fastmarkets heard on Friday August 23."We have been able to maintain domestic HRC prices for the current month because there is no threat of low-priced HRC imports entering the [Indian domestic] market for some [foreseeable] time," an official from an Indi...Read More
The government of Canada has announced measures to prevent the transshipment of aluminium into the United States, building on commitments made when the US removed its Section 232 import tariffs in May.As of September 1, aluminium products will form part of Canada's Import Control List (ICL) under the Export & Import Permits Act.As a result, importers from next month will be required to cite the ap...Read More
The London Metal Exchange three-month nickel price lost gains made over the course of the trading day to close at $15,665 per tonne on Friday August 23, down 1.3% from the intraday high of $15,860 per tonne, despite a healthy 11,294-lot turnover, the highest since August 8. A significant 22,620 lots were traded on August 8 when a short-covering rally driven by Chinese investment buyers pushed the...Read More
Treatment and refining charges (TC/RCs) for spot copper concentrates rose marginally in mid-August following five consecutive weeks of declines, with few smelters in the market buying tonnages at stable terms.Fastmarkets' copper concentrate TC/RC index basis cif Asia Pacific rebounded to $50.20 per tonne/ 5.02 cents per lb on August 23, up from $49.60 per tonne/ 4.96 cents per lb a week ago - whic...Read More
China's state council announced on Friday August 23 it would apply an additional 5% and 10% tariff on $75 billion of United States imports, including copper scrap and aluminium scrap. The move came as a retaliation to the United States' announcement on August 13 that it would impose additional 10% tariffs on approximately $300 billion of Chinese imports. Starting December 15, 2019, China will...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday August 23:Aluminium scrapMixed turnings, delivered consumer...Read More
Barring zinc and nickel, base metal stocks at Shanghai Futures Exchange-approved warehouses were lower week on week on Friday August 23, with the biggest fall in deliverable lead stocks, which slumped by 9.6% or 3,544 tonnes to 33,065 tonnes. According to the SHFE's latest inventory report, the Zhejiang Tianchuan warehouse in Zhejiang recorded the most lead stock withdrawals this week with 3,401 t...Read More
Prices for cold-rolled and galvanized flat-rolled steel have slipped for the first time in two months due to concerns about demand and lower substrate prices.Fastmarkets' assessment for steel cold-rolled coil, fob mill US, was at $37.50 per hundredweight ($750 per short ton) on Thursday August 22, down by 1.3% from $38 per cwt a week earlier and off by 25% from $50 per cwt a year earlier.Galv...Read More
Turkish import prices for hot-rolled coil and cold-rolled coil decreased over the week ended Friday August 23, while the price of HRC exports increased with higher offers, sources told Fastmarkets. Turkey was celebrating the Islamic religious holiday of Eid-Al Fitr on August 12-14, leaving the market steady last week. This week, domestic demand was moderate, but sources said this is because buyers...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil were stable over the week ended Friday August 23, with the market still slow after the Eid al-Adha religious holiday, sources told Fastmarkets.Turkey was on eid holiday on August 12-14, and the market was stable over the other two working days of last week.The country's main export market, Europe, was also in its holiday sea...Read More
Turkish steel billet prices fell this week on sluggish demand and a downturn in imported scrap costs, sources said on Thursday August 23.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey, was $410-415 per tonne on Thursday, August 22, down from last week's $420-425 per tonne cfr. Suppliers in the Commonwealth of Independent States (CIS) have lowered their offer pri...Read More
Domestic rebar prices in Poland remained unchanged this week, with the seasonal summer slowdown inhibiting market activity, sources told Fastmarkets on Friday August 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland remained at 2,150-2,200 zloty ($547-559) per tonne on August 23.The assessment...Read More
Eastern China's hot-rolled coil prices picked up further on Friday August 23, but sellers remained worried about the market weakening again soon on the belief that the recent strength was due in large part to speculation. DomesticEastern China (Shanghai): 3,720-3,730 yuan ($525-527) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,700 yuan per tonne, unchangedRising futures propped u...Read More
Prices in Southeast Asia's steel billet market declined on Friday August 23 after Indian producers reduced their offer prices, although buying interest remained weak."Buyers in the Philippines are expecting prices to fall further and have [so far] resisted the lower offers because [off poor demand and low prices in] the domestic long steel market," a trader in the Philippines said."However, market...Read More
Export sales of pig iron from the south of Brazil have resumed but activity was still limited by uncertainty about which direction prices will move in the near future, sources told Fastmarkets on Friday August 23.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil was $325-327 per tonne on Friday, widening upward slightly from $325 per tonne a week before..One sale o...Read More
European alloy steel scrap prices widened downward this week to reflect lower nickel costs, sources told Fastmarkets on Friday August 23.This week, nickel prices retreated slightly from the four-and-a-half-year high reached on August 16. Given the rapid increases seen previously, traders were cautious and only some transactions reflected these losses in the prices of alloy steel scrap.The price...Read More
The inter-merchant spot market for UK light iron scrap remained steady in the week to Friday August 23 - for the ninth week in row - due to stable summer market conditions, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was flat week on week at ?80-100 ($97-121) per tonne on Friday August 23. Market sources...Read More