The market for pig iron exports from the Commonwealth of Independent States (CIS) was stable during the week ended Thursday May 16, with several sales to the United States at prices equal to those heard at the start of the month.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was unchanged at $330-335 per tonne fob Black Sea on Thursday.One Russia-origin pig iron cargo was...Read More
The Turkish steel producers resumed their purchases from the deep-sea scrap market at slightly higher prices at the end of this week after news of the removal of additional US import tariffs on Turkey-origin materials, sources said on Friday May 17.The United States lowered its tariff on steel imports from Turkey to 25%, from the previous 50%, with effect from May 17.Rumors of the removal of the e...Read More
The price of shredded ferrous scrap imported into India fell again this week after deals were agreed at lower prices, market sources told Fastmarkets on Friday May 17.Fastmarkets' weekly index for containerized imports of shredded scrap into India went down by $5.24 per tonne to $319.79 per tonne cfr Nhava Sheva on Friday, from $325.03 per tonne cfr Nhava Sheva on May 10.Prices for shredded materi...Read More
Physical iron ore markets continued to strengthen on Friday May 17 with the seaborne price breaching $100 per tonne cfr China for the first time in five years, amid a bullish performance by futures.MB 62% Fe Iron Ore Index: $101.71 per tonne cfr Qingdao, up by $2.50 per tonne.MB 62% Fe Pilbara Blend Fines Index: $99.90 per tonne cfr Qingdao, up by $2.50 per tonne.MB 62% Fe Iron Ore Index-Low Alumi...Read More
China's rebar prices rose further on Friday May 17 on gains in the futures market, but trading activity has fallen to moderate rates with most buyers having procured enough materials earlier in the week.Domestic Eastern China (Shanghai): 4,030-4,060 yuan ($586-590) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,960-4,020 yuan per tonne, up 10-20 yuan per tonneWhile some sources had...Read More
China's export prices for hot-rolled coil edged up on Friday May 17, with trading activity in this segment said to have picked up this week.DomesticEastern China (Shanghai): 4,000-4,020 yuan ($581-584) per tonne, widening upward by 10 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, up 10 yuan per tonneMills raised their offers again amid gains in the futures market, but trading...Read More
The seaborne coking coal market was mostly stable on Friday May 17, though a lower fob Australia offer emerged on trading platform Global Coal.A June-laycan cargo of branded materials was offered at $209 per tonne fob Australia, down $5 per tonne from an offer of $214 per tonne a day earlier, sources said. "This offer is in line with market expectations," an Indian trading source said.A trading so...Read More
Rumors that around 1,000 tonnes of bismuth held in Fanya warehouses may be auctioned dampened buying interest in China, causing the domestic Chinese bismuth price to plunge by 4% week on week on Friday May 17. Fastmarkets assessed the Chinese domestic bismuth price at 41,000-44,000 yuan ($5,959-6,395) per tonne on Friday, down from 43,000-45,500 yuan per tonne a week earlier. The latest price...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 17:Antimony MB free market regulus, $/tonne: $6,900-7,150 per tonne from $7,000-7,200Antimony MMTA standard grade II, $/tonne: $6,800-7,000 per tonne from $6,900-7,100Bismuth MB China domestic, yuan/tonne: 41,000-44,000 yuan per tonne from 43,000-45,500 yuanChromium MB free market alumino-thermic, $/tonne: $8,100-8,400 per tonne f...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
The firmer tone of recent days has subsided this morning, Friday May 17, with some talk out of China that they are in no hurry to resume trade talks no doubt weighing on sentiment. That said, US economic data out on Thursday was generally robust with strong data on housing starts, the Philadelphia Fed manufacturing index and initial jobless claims, which somewhat countered the poor data from Wedne...Read More
European stainless steel prices for long and flat products were stable this week despite low demand and a pessimistic outlook on the market for the remainder of 2019, sources told Fastmarkets MB on Friday May 17. Market participants attributed the poor demand to a several factors weighing on the economic performance in Europe. "There's Trump and China, Brexit, the gilets jaunes protests in France,...Read More
Norway-based ferro-silicon producer Elkem will temporary cut production at its European operations because of weakening prices and plentiful supply. "As a consequence of the sharp decrease in ferro-silicon prices and oversupply in the European market, Elkem is planning temporary reductions of production capacity," the company said on its website. The first capacity adjustment is planned in June, w...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday May 17:Aluminium scrapFloated Frag: ?,?990-1,040 per tonne from ?,?1,010-1,050Cast: ?,?890-910 per...Read More
Domestic prices for ferrous scrap in Italy have declined over the past month in line with falls in the international scrap markets, sources told Fastmarkets on Friday May 17.The monthly price assessment for Italian grade-E3 scrap was ?,?250-270 ($280-302) per tonne delivered on May 17, compared with ?,?260-275 per tonne delivered in the assessment on April 15.Fastmarkets' daily index for Northern...Read More
Scrap prices in Asia were largely steady this week, but they are expected to rise after the United States lowered its Section 232 duty on Turkish steel by half, market sources told Fastmarkets MB."Turkey will likely increase its demand for ferrous scrap, so prices off the US East Coast will increase and support the market," a seller in the North American country said.But the lowering of the tariff...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying over the afternoon. The upward momentum in the three-month aluminium futures continued throughout the afternoon trading session, with the light metal settling at $1,860 per tonne, its highe...Read More
Recent optimism for an uptrend in global alumina prices has been knocked by the news that the Federal Court in Bel?(C)m, Brazil, has removed a production embargo on Norsk Hydro's Alunorte alumina refinery, sources told Fastmarkets on the sidelines of the Alumina & Bauxite conference in Zhengzhou, China on May 16-17. This is the first of two production embargoes that need to be removed but sou...Read More
Aluminium's three-month price on the London Metal Exchange appreciated during morning trading on Thursday May 16, climbing to an intraday high of $1,864 per tonne after it was buoyed by a fresh cancelation of 33,050 tonnes. The climb marks the light metal's highest price since April 26, but its three-month price has not traded above $1,900 per tonne since April 5, despite more than 400,000 tonnes...Read More