The Turkish steel producers have continued their deep-sea scrap bookings after achieving lower prices, sources told Fastmarkets on Monday April 29.Three deep-sea cargoes were heard traded late on April 27 and on April 28.A steel mill in the Izmir region booked a US cargo, comprising HMS 1&2 (80:20) at $307 per tonne, shredded at $312 per tonne and bonus at $317 per tonne...Read More
Physical iron ore prices advanced on Monday April 29 amid gains in China's futures market.MB 62% Fe Iron Ore Index: $94.05 per tonne cfr Qingdao, up $0.47 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.83 per tonne cfr Qingdao, up $0.47 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $97.10 per tonne cfr Qingdao, up $1.07 per tonne. MB 58% Fe Premium Index: $84.64 per tonne cfr Qingdao, up $...Read More
China's domestic rebar prices held steady on Monday April 29 despite a strengthening of the billet and futures markets ahead of the Labor Day holiday from Wednesday until the end of the week.Domestic Eastern China (Shanghai): 4,050-4,100 yuan ($602-609) per tonne, unchangedNorthern China (Beijing): 3,950-4,000 yuan per tonne, unchangedRebar futures strengthened during the day after the price of bi...Read More
The import price for steel slab in Southeast Asia and East Asia was unchanged over the past week with producers in the regions hiking up their asking prices despite muted buying interest.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $470-480 per tonne cfr on Monday April 29, unchanged from a week earlier.No deals were heard during the week to Monday,...Read More
Ferro-silicon prices in the Chinese domestic market have begun to fall again after a brief period of stability when weak demand in the magnesium sector dragged down the bulk alloy market.For its part, the European ferro-silicon market also dropped in the week to Monday April 29, with producers failing to support prices while consumers continued to settle delivery contracts at ever-lower values. Sl...Read More
Fastmarkets MB has corrected its monthly alloy surcharges for Europe domestic grade-304 and grade-316 stainless steel cold-rolled sheet (2mm) for April, which were published incorrectly on March 29, 2019 due to an error.The incorrect ranges were published because one of the stainless steel mills - whose surcharges comprise the ranges - was late in publishing them for April. The range for grade-304...Read More
With LME Asia Week fast approaching, Fastmarkets MB takes an in-depth look at one of the topics likely to dominate discussions at this year's event: the growing risk of supply-side headwinds for nickel prices.Nickel prices face considerable downside pressure from increasing supply of two nickel-containing stainless steel raw materials - nickel pig iron (NPI) and nickel plate - as well as an abunda...Read More
Market sources surveyed by Fastmarkets last week broadly agreed that the prospects for steel exports out of Turkey remained poor at the end of April, with no recovery likely soon because of trade barriers erected by authorities in the country's principal outlet markets.This will affect steel output in Turkey, with local demand also limited by the country's economic uncertainty and the decline in t...Read More
Steel production has stopped at the Algerian steel mill of Turkish steelmaker Tosyali after a workers' strike began on Wednesday April 24, according to local newspaper reports. Tosyali could not be reached for comment at the time of publication. "Production at Tosyali has stopped, and in the past two or three days, we have seen increased Algerian interest for wire rod imports from Italy and Spain,...Read More
If the United States places import tariffs on cars produced in Germany it could trigger an economic slowdown in Germany, corporate audit director of Czech steel distributor Ferona, Jan Moravec, said at Eurometal's Regional Meeting in Central Europe held in Prague on April 25.One of the major risks to the German steel industry is the import tariffs in the United States, Moravec said.Tariffs on impo...Read More
Tata Steel aims to produce 32 million tonnes per year of crude steel at its Indian operations by 2025, the company said.The 2025 capacity target in India would constitute the entirety of the steelmakers' global crude capacity following the planned divestment of operations in Asia and a planned joint venture of European flat steel operations with Germany's ThyssenKrupp.Of the Indian steelmaker's cu...Read More
Ferro-silicon prices in the Chinese domestic market have begun to fall again after a brief period of stability when weak demand in the magnesium sector dragged down the bulk alloy market.For its part, the European ferro-silicon market also dropped in the week to Monday April 29, with producers failing to support prices while consumers continued to settle delivery contracts at ever-lower values. Sl...Read More
Warehouse operator Access World has significantly increased its London Metal Exchange warehouse presence in Port Klang, Malaysia, by listing 25 new LME-registered warehouses there over the past two weeks.Nineteen Access World-owned warehouses in Port Klang were listed on Monday April 29, according to an LME notice. Six had previously been listed on April 17 in Port Klang. Before the mass listing o...Read More
Fastmarkets summarizes five key points we learned at Antaike's 2019 China Industry Silicon Conference in Guizhou, China, over April 24-26. Domestic silicon consumption in China likely to fall; concern growing over export prices Demand in China's silicon market is likely fall in the near term while the secondary aluminium market struggles with restrictions on imports of non-ferrous scrap metal, mar...Read More
Aluminium's three-month price on the London Metal Exchange fell by more than 1% at the close of trading on Monday April 29, reaching its lowest level since January amid fresh inflows of more than 50,000 tonnes. The light metal closed at $1,828 per tonne this afternoon, with volumes traded leading the complex, with more than 12,400 lots changing hands by the close, while open interest has climbed b...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 29 that are worth another look.Demand in China's silicon market is likely fall in the near term while the secondary aluminium market struggles with the impending restrictions on imports of non-ferrous scrap metal, market sources told Fastmarkets on the sidelines of Antaike's 2019 China Industry Silicon Conference in Gu...Read More
Warehouse operator Access World has significantly increased its London Metal Exchange warehouse presence in Port Klang, Malaysia, by listing 25 new LME-registered warehouses there over the past two weeks.Nineteen Access World-owned warehouses in Port Klang were listed on Monday April 29, according to an LME notice. Six had previously been listed on April 17 in Port Klang. Before the mass listing o...Read More
Aluminium's three-month price on the London Metal Exchange fell by more than 1% at the close of trading on Monday April 29, reaching its lowest level since January amid fresh inflows of more than 50,000 tonnes. The light metal closed at $1,828 per tonne this afternoon, with volumes traded leading the complex, with more than 12,400 lots changing hands by the close, while open interest has climbed b...Read More
Treatment charges (TCs) paid for zinc concentrates on the spot market declined in April, with Chinese smelters and traders actively acquiring tonnages at lower levels than before.Fastmarkets monthly assessment for zinc concentrate spot TCs, cif Asia Pacific, was at $260-290 per tonne on April 26, down from $270-305 per tonne on March 29.The drop marks a break in the uptrend for sharply rising zinc...Read More
Treatment charges (TCs) paid for zinc concentrates on the spot market declined in April, with Chinese smelters and traders actively acquiring tonnages at lower levels than before.Fastmarkets monthly assessment for zinc concentrate spot TCs, cif Asia Pacific, was at $260-290 per tonne on April 26, down from $270-305 per tonne on March 29.The drop marks a break in the uptrend for sharply rising zinc...Read More