Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) rose for the sixth consecutive week on Tuesday March 19. Mills increased their offers again on steady domestic demand in China amid the ongoing winter production cuts, and costlier hot-rolled coil feedstock also helped to push up the prices, sources said. Fastmarkets' daily fob China HRC Index stood at...Read More
Chinese hot-rolled coil sellers kept prices steady on Tuesday March 19 on robust domestic demand ahead of a decrease of the country's value-added tax.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($573-576) per tonne, widening downward by 10 yuan per tonneNorthern China (Tianjin): 3,810-3,830 yuan per tonne, unchangedPrices were largely stable in both eastern and northern China, with buyers s...Read More
Price assessments for steel rebar and billet in the United Arab Emirates were stable this week while demand remained only moderate, sources told Fastmarkets on Tuesday March 19.Local rebar producers rolled over their domestic prices for rebar last week.Rebar importsOman was offering rebar for import into its neighboring state at $530-535 per tonne cpt UAE and a few deals were heard within that ran...Read More
China's domestic rebar prices edged up further on Tuesday March 19 on steady end-user demand amid favorable weather. Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($576-581) per tonne, narrowed upward by 20 yuan per tonne Northern China (Beijing): 3,850-3,890 yuan per tonne, narrowed upward by 10 yuan per tonneWarmer weather in both Shanghai and Beijing led contractors to raise their procure...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebar, wire rodRebar East China, domestic, grade III...Read More
Turkish steel producers continued to remain out of the deep-sea ferrous scrap markets while suppliers kept their offers firm, sources told Fastmarkets on Tuesday March 19.Market participants said that suppliers in the United States kept their offers at $330 per tonne cfr for HMS 1&2 (80:20), but the steel producers in Turkey were only willing to pay $315 per tonne for the same material."US supplie...Read More
Iron ore prices corrected down on Tuesday March 19, with futures and spot market activity at Chinese ports both declining after Monday's gains.Tuesday also saw Fastmarkets' MB 62% Fe Iron Ore Index used for the first time as part of a basket of measures to price Pilbara Blend fines.MB 62% Fe Iron Ore Index: $87.23 per tonne cfr Qingdao, down $1.03 per tonne. MB 62% Fe Pilbara B...Read More
Brazil's Vale has obtained a court order allowing it to restart port activities at its Gua?-ba Island Terminal, it said late on Monday March 18.The iron ore miner had suspended port activities at the terminal earlier this month on orders of the Mangaratiba city government."Following the court decision, Mangaratiba City Hall authorities lifted the interdiction. Vale reaffirms that it has all valid...Read More
Price assessments for steel rebar and billet in the United Arab Emirates were stable this week while demand remained only moderate, sources told Fastmarkets on Tuesday March 19.Local rebar producers rolled over their domestic prices for rebar last week.Rebar importsOman was offering rebar for import into its neighboring state at $530-535 per tonne cpt UAE and a few deals were heard within that ran...Read More
China's domestic rebar prices edged up further on Tuesday March 19 on steady end-user demand amid favorable weather. Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($576-581) per tonne, narrowed upward by 20 yuan per tonne Northern China (Beijing): 3,850-3,890 yuan per tonne, narrowed upward by 10 yuan per tonneWarmer weather in both Shanghai and Beijing led contractors to raise their procure...Read More
High-grade manganese ore producers returned to the market with higher offer prices in the week ended Friday March 15, while low grade prices held steady; In Europe, alloy prices rose on the news of load shedding in South Africa and the resultant pressure on production. 44% manganese ore price rose after producers raise offers.37% prices stable in balanced market.Indian silico-manganese prices ris...Read More
The expectation for higher tender prices for ferro-chrome in April supported the prices for ore in China and for alloy in Japan and South Korea, Fastmarkets heard on Monday March 18. UG2 and Turkish lumpy ore prices riseDomestic alloy price climbs in ChinaAlloy prices in Europe, Japan, South Korea increaseImported alloy prices stable in US, China. Prices for chrome ore imported into China and in C...Read More
Brazil's Vale has obtained a court order allowing it to restart port activities at its Gua?-ba Island Terminal, it said late on Monday March 18.The iron ore miner had suspended port activities at the terminal earlier this month on orders of the Mangaratiba city government."Following the court decision, Mangaratiba City Hall authorities lifted the interdiction. Vale reaffirms that it has all valid...Read More
Aluminium premiums in Japan and South Korea were on an uptrend on Tuesday March 19, due to supply tightness throughout the East Asian region, while premiums elsewhere in the world were supported by a wide contango on the London Metal Exchange. Port congestion in Japan pushes premiums higher; premiums in South Korea shoot up due to lack of supply in LME warehouses LME spreads support Rotterdam alum...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 19.Please click...Read More
The price for flat steel products imported into the United Arab Emirates and Saudi Arabia mostly increased over the past week due to increased production costs, Fastmarkets heard on Tuesday March 19.End-user demand has been weak, so buyers were unwilling to place large-tonnage orders, sources told Fastmarkets. At the same time, production costs have been rising and placing upward pressure on the f...Read More
Aluminium's three-month price on the London Metal Exchange rose by more than 1% at the close of trading on Tuesday March 19, with a large rewarranting of just under 100,000 tonnes doing little to curb an upswing that saw the metal's price close at a three-month high of $1,946 per tonne.Total volumes traded in aluminium topped the complex, with more than 18,000 lots changing hands by the close, the...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday March 19 that are worth another look.A cyber attack on Norwegian aluminium group Norsk Hydro has temporarily halted its rolling and extrusion operations, chief financial officer Eivind Kallevik said on Tuesday March 19. The Chinese government has launched a round of safety inspections targeting 20 cities, including Gan...Read More
Aluminium's three-month price on the London Metal Exchange rose by more than 1% at the close of trading on Tuesday March 19, with a large rewarranting of just under 100,000 tonnes doing little to curb an upswing that saw the metal's price close at a three-month high of $1,946 per tonne.Total volumes traded in aluminium topped the complex, with more than 18,000 lots changing hands by the close, the...Read More
Aluminium's three-month price on the London Metal Exchange consolidated higher during morning trading on Tuesday March 19, with price action largely unaffected by a rewarranting of just under 100,000 tonnes in Malaysia, accounting for around 10% of total LME stocks. Volumes traded for aluminium on the exchange continue to lead the complex, with just over 7,500 lots changing hands as of 9:50am Lond...Read More