CIS export steel billet prices continued to climb in the week ended Friday May 24, with customers finally accepting higher prices in bookings.Billet offers from the Black Sea basin were heard within the range of $430-445 per tonne fob Black Sea, depending on supplier, but few customers were ready to accept such prices, with bids still being reported...Read More
Prices in Southeast Asia's steel billet market remained stable on Friday May 24 amid weak demand in the major Southeast Asian import markets of the Philippines and Indonesia.Market participants in the CIS adjusted their offers upward in response to bullish market sentiment after the United States reduced its tariff on imports of Turkish steel to 25% from 50%.Fastmarkets' daily import price assessm...Read More
Sentiment among participants in the Chinese hot-rolled coil market was mixed on Friday May 24 after prices dropped in the east of the country.DomesticEastern China (Shanghai): 4,010-4,020 yuan ($580-581) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, unchangedTrading in Shanghai was thinner than yesterday, even though many downstream compan...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic,...Read More
Pig iron exporters in the south of Brazil have sold out their available tonnages for July and have increased their offer prices, Fastmarkets heard on Friday May 24.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region of the country was $323-324 per tonne fob on May 24. This was up slightly from $320-322 per tonne fob a week before, but on different fi...Read More
The price of shredded ferrous scrap imported into India went up by $10 per tonne after the end of the country's general election process, which was won by the incumbent BJP party, market sources told Fastmarkets on Friday May 24.Fastmarkets' weekly index for containerized imports of shredded scrap into India went up by $10.46 per tonne to $330.25 per tonne cfr Nhava Sheva on Friday, from $319.79 p...Read More
Rogesa, a joint subsidiary of German steelmakers Dillinger and Saarstahl, is to invest ?,?14 million ($15.62 million) to make use hydrogen-rich coke gas in its blast furnaces, to gradually reduce its reliance on coking coal, the company said on Friday May 24.The company, which produces pig iron for its two owners, plans to "introduce a portion of the hydrogen-rich coke gas produced inside the inte...Read More
Seaborne iron ore prices advanced again on Friday May 24 amid robust trading activity.MB 62% Fe Iron Ore Index: $105.32 per tonne cfr Qingdao, up by $1.53 per tonne.MB 62% Fe Pilbara Blend Fines Index: $103.51 per tonne cfr Qingdao, up by $1.53 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $108.80 per tonne cfr Qingdao, up by $0.90 per tonne.MB 58% Fe Premium Index: $96.02 per tonne cfr Qingdao...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 oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at $108.80 per tonne cfr China, laycan June 15-24.Vale, Global Ore, 120,000 tonnes of 65% Fe Iron Ore Carajas, sold at $119.30...Read More
The London Metal Exchange has approved the Registered Intermediating Broker (RIB) Tier 2 membership of GFI Brokers and ICAP Energy, it said in a note to members on Friday May 24.Both brokers will now be able to commence activity as RIBs, allowing them to register trades directly into the LME's matching system - known as LMEsmart - on behalf of clearing members or clients.London-based ICAP Energy i...Read More
Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Friday May 24, with a softening in the dollar overnight providing much-needed relief to the complex. Copper, aluminium, lead and nickel were up between 0.3% and 0.8% on the SHFE this morning, while zinc and tin declined by 0.4% and 0.3% respectively. The red metal's most-traded July contract on the SHFE r...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday May 24:Minor metalsAntimony MB free market regulus, $/tonne: $6,700-6,950 per tonne from $6,800-7,000Antimony MMTA standard grade II, $/tonne: $6,500-6,750 per tonne from $6,600-6,750Bismuth MB China domestic, yuan/tonne: 41,500-44,000 yuan per tonne from 41,000-44,000 yuanChromium...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves. Read More
Belgian battery-materials manufacturer Umicore SA has reached an agreement with Freeport Cobalt to acquire the latter's cobalt refining and cathode precursor business at the Kokkola refinery in Finland. The transaction is expected to be finalized by the end of 2019, and Umicore will pay a total consideration of $150 million on a debt and cash free basis, plus the value of the working capital to be...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday May 24. China Taiyuan Iron & Steel (Tisco) released its June tender price for high-carbon ferro-chrome at 6,550 yuan ($947) per tonne on Friday May 24, 350 yuan per tonne lower than its May tender. Two other major Chinese stainless steel mills, Tsingshan and Baosteel, have yet to release June tende...Read More
The market for aluminium 226 ingot fell to its lowest level since November 2009 on Friday May 24 after rumors of distressed selling in Italy exacerbated already weak demand from the European automotive sector. Fastmarkets assessed the price for aluminium diecasting ingot 226 at ?,?1,340-1,380 ($1,495-1,539) per tonne on Friday, down by ?,?40 per tonne from ?,?1,380-1,430 per tonne the previou...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday May 24:Aluminium scrapFloated Frag: ?,?940-980 per tonne from ?,?990-1,040Cast: ?,?880-900 per...Read More
Asian ferrous scrap buyers have continued to keep their purchases limited over the past week, cautioning against excessive optimism about trade relations between the United States and Turkey.While price levels have increased in Taiwan, many South Korean and Vietnamese buyers are still staying away from purchasing imported HMS 1&2 scrap despite prices in key bellwether market Turkey increasing.&nbs...Read More