Fastmarkets MB has corrected its aluminium scrap cast and mixed turnings prices in Europe, which were published incorrectly on April 12 due to an error.Fastmarkets MB has corrected its aluminium scrap cast and mixed turnings prices in Europe which were published incorrectly on April 12 due to an error.The European cast aluminium, free market assessment was incorrectly published at ?,?955-975 per t...Read More
Category-I London Metal Exchange broker Sucden Financial has released its latest financial results in which it recorded a net profit of ?16.4 million ($21.4 million) in the year ended December 31, 2018, while net revenues over the year were ?63 million, the company said in a statement this week.The company's profit increase last year comes against a 2017 net profit of ?10.7 million, a 33% incre...Read More
Sentiment was unusually bearish at this year's Cesco week in Santiago, Chile, with copper market participants increasingly concerned that sluggish demand in China will limit the upside potential of the red metal price. The annual gathering in the Chilean capital on April 7-12 is traditionally characterized by strong attendance by miners from copper-rich South America and thus typically boasts a po...Read More
Export prices for Brazil-origin steel slab were flat for a third consecutive week on Friday April 12, with buyers resisting attempts to increase prices for June-shipment material.Fastmarkets' weekly assessment for Brazilian slab exports were stable at $510-550 per tonne fob on Friday.Few volumes have been traded in the spot market and procurement remains high, but buyers were not ac...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletChina, billet,...Read More
Domestic prices for rebar in Poland have been stable over the week supported by good demand, sources told Fastmarkets on Friday April 12.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland was unchanged at 2,220-2,290 zloty ($584-603) per tonne ex-works on April 12.The assessment reflects deals and offers heard in the market. Polish steelmakers have been trading...Read More
Prices for coated-steel products in Turkey decreased in the seven days to Friday April 12, with demand weak in the domestic market.Demand failed to improve because of the uncertainty after local elections held across the country on March 31, and the continuing weakening of the Turkish lira.Unofficially, the Justice & Development Party (AKP) - the party of national government - won the majority of...Read More
Most prices for steel coil products in Turkey decreased over the week ended Friday April 12, with buying activity remaining subdued.Demand in the local market was still weak because of the uncertainty after mayoral elections held across the country on March 31, and the continuing weakness of the Turkish lira.Unofficially, the Justice & Development Party (AKP) - the party of national government - w...Read More
Global ferrous scrap prices were on a downward trend this week due to thin demand from steel mills, which expected spot prices to continue to fall in the near term. Spot prices in Vietnam bucked the trend, stable despite limited offers for HMS 1&2 (80:20) materials. Turkey scrap demand limited US ferrous scrap market likely to continue downtrend Kanto Tetsugen tender concludes at ?23,300 ($209) p...Read More
The price of shredded ferrous scrap imported into India moved down this week with deals done at lower levels compared with last week, sources said on Friday April 12. Fastmarkets' weekly index for containerized imports of shredded scrap into India fell to $331.32 per tonne cfr on Friday from $334.45 per tonne cfr on April 5. This week, deals were heard for shredded scrap done at $330 and $333...Read More
European traders have complained of being priced out of the market for domestic grade-316 stainless steel scrap because of high demand from Asian importers, Fastmarkets heard on Friday April 12.One European trader was offered grade-316 scrap solids at ?,?1,650 ($1,859) per tonne delivered, but declined the deal because it did not think it would be able to achieve a positive margin when selling the...Read More
Turkish steel mills ended the week in silence on Friday April 12, booking no new deep-sea cargoes, while market participants awaited fresh bookings to get an idea of the market direction, sources told Fastmarkets. No new deep sea-cargoes came to light on Friday, but negotiations continue between mills and traders, with many expecting prices to continue moving downward into next week.Some traders r...Read More
Prices for light iron steel scrap in the United Kingdom were rolled over for a fourth week on Friday April 12, supported by the rollover of the monthly ferrous prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-110 ($118-144) per tonne on April 10. The price has remained unchanged since March 15.The flat week...Read More
Seaborne iron ore prices continued to rise on Friday April 12, with high-grade materials such as Iron Ore Carajas (IOCJ) continuing to outperform other grades.MB 62% Fe Iron Ore Index: $96.47 per tonne cfr Qingdao, up by $0.82 per tonne.MB 62% Fe Pilbara Blend Fines Index: $95.74 per tonne cfr Qingdao, up by $0.97 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $98.32 per tonne cfr Qingdao, up by...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 transaction: iron oreIron oreRio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara Blend fines, traded at $94.20 per tonne cfr China, laycan May 1-10.Vale,...Read More
The Comex copper price surged in the US morning session on Friday April 12 amid a falling dollar and upbeat sentiment from Cesco Copper Week in Santiago, Chile. The copper price for May settlement on the Comex division of the New York Mercantile Exchange jumped 5.70 cents to $2.9440 per lb. The contract has been unable to set a solid price direction this week with prices rising and falling day by...Read More
Warrant traders were reporting an easing of South Korean aluminium warrants after a pocket of short supply in the region began to ease in the week ended Friday April 12, while a significant reduction in the length of queues at Malaysian warehouses operated by Istim also made trading easier.Fastmarkets' most recent assessment for in-warehouse P1020 aluminium warrants in East Asia fell this week to...Read More
Copper stocks held in Shanghai Futures Exchange-approved warehouses dropped by 5% week on week as of Friday April 12 on tightening supplies.Deliverable copper stocks at SHFE-approved warehouses have fallen by 12,142 tonnes since April 4 to reach 245,178 tonnes as of this Friday. This week's sharp drop follows a fall of 4,092 tonnes on April 4, before which stocks had been climbing. Zhong...Read More
The seaborne coking coal market picked up some strength on Friday April 12 with transactions being concluded at higher-than-expected prices.A May-loading cargo of premium low-vol hard coking coal was sold at $200.77 per tonne cfr China to a Chinese trader, according to various sources in China. The same product was offered at $200 per tonne cfr on Thursday.A May-laycan cargo of premium mid-vol har...Read More
The following Fastmarkets minor metals prices changed on Friday April 12:Minor metalsBismuth MB China domestic, yuan/tonne: 47,000-48,000 yuan per tonne from 46,500-48,500 yuanChromium MB free market alumino-thermic, $/tonne: $8,275-8,750 per tonne from $8,400-8,900Cobalt MB free market alloy grade, $/lb: $16.60-17.40 per lb from $16.50-17.30Cobalt...Read More