Manganese ore production in China could not play a role in replacing seaborne ore due to factors such as quality and production costs, according to panelists at Fastmarkets' Asian Ferro-alloys conference in Hong Kong on Monday March 11.The domestic manganese ore supply in China cannot play a substantial role in the ferro-alloys or steel sector because of two major issues, Lei Fei, China Minmetals...Read More
Turkish steel producers have continued to book deep-sea scrap to replenish low stock levels despite the weak demand for finished steel products, sources said on Tuesday March 12.A steel producer in the Iskenderun region booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20), at $320 per tonne cfr.The cargo was scheduled to be shipped at the end of the March and was sold at the same...Read More
The London Metal Exchange is prepared for whatever outcome arises from the planned departure of the UK from the European Union, including a so-called "hard" Brexit, its chief executive officer said on Tuesday March 12.The two key requirements for the exchange to continue to operate as normal had already been achieved, or would be achieved, by the time of Brexit, Matthew Chamberlain said.Brexit, th...Read More
The three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.5% this morning, Tuesday March 12.Nickel once again led the way with a 1.4% gain to $13,090 per tonne, compared with Monday's close at $12,915 per tonne, while copper was up by 0.6% at $6,459 per tonne, having closed on Monday at $6,421.50 per tonne. Copper and nickel are in the driving seat...Read More
Chilean lithium miner SQM expects to triple its sales volumes by 2025, to 150,000 tonnes per year of lithium compounds, up from the 45,100 tonnes of such materials sold in 2018.SQM's production capacity for lithium compounds is expected to increase to 180,000 tpy in the next few years to meet growing demand. Current capacity is 70,000 tpy; an interim capacity for 120,000 tpy is expected in 2020.Me...Read More
The prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have been stable over the past week, with buying activity for all such materials remaining limited, Fastmarkets heard on Tuesday March 12.But new offer prices, to be sent out next week, were expected to be higher because of rises in raw material prices, sources told Fastmarkets.Higher prices were unlikely to...Read More
Chinese steel plate export prices were unchanged over the past week on stable demand.Fastmarkets MB's weekly price assessment for April shipments of commercial-grade, chromium-added steel plate remained at $545-555 per tonne fob for the week to Tuesday March 12.Negotiation levels remained at $545-555 per tonne fob, with mills raising their plate offers to $555-560 per tonne fob...Read More
Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased again over the past week, with mills continuing to raise their offers amid support from China's robust domestic market.Cold-rolled coilFastmarkets MB's weekly export price assessment for Chinese SPCC 1.0mm CRC was $555-565 per tonne fob China on Tuesday March 12, up $7-8 per tonne from $547-558 per tonn...Read More
Offer prices for CIS-origin wire rod remained firm in the middle of March, supported by higher prices achieved in deals in previous weeks as well as increased scrap costs in the global market, Fastmarkets heard on Tuesday March 12.CIS wire rod was available to foreign customers at $515-525 per tonne fob Black Sea, with some sources even reporting offers as high as $540 per tonne fob...Read More
Price assessments for steel rebar and billet imported into the United Arab Emirates have increased slightly this week but demand remained moderate, sources told Fastmarkets on Tuesday March 12.New local rebar prices will probably be announced after March 20, after which buying activity may increase, sources said.Market participants expected rebar prices to go up because of rising raw material pric...Read More
China's rebar prices picked up some upward momentum on Tuesday March 12 with market participants expecting iron ore supply from Brazil's Vale to tighten.Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($565-571) per tonne, up 10-30 yuan per tonneNorthern China (Beijing): 3,780-3,820 yuan per tonne, up 20-30 yuan per tonneVale has suspended port activities at its Guaiba Island Terminal on instr...Read More
Turkish steel producers have continued to book deep-sea scrap to replenish low stock levels despite the weak demand for finished steel products, sources said on Tuesday March 12.A steel producer in the Iskenderun region booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20), at $320 per tonne cfr.The cargo was scheduled to be shipped at the end of the March and was sold at the same...Read More
Physical iron ore prices improved on Tuesday March 12 following advances in China's futures and steel markets, as well as further uncertainty over Vale's supplies from Brazil.MB 62% Fe Iron Ore Index: $85.25 per tonne cfr Qingdao, up $1.46 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.37 per tonne cfr Qingdao, up $1.18 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87.35 per tonne cfr Qin...Read More
China's rebar prices picked up some upward momentum on Tuesday March 12 with market participants expecting iron ore supply from Brazil's Vale to tighten.Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($565-571) per tonne, up 10-30 yuan per tonneNorthern China (Beijing): 3,780-3,820 yuan per tonne, up 20-30 yuan per tonneVale has suspended port activities at its Guaiba Island Terminal on instr...Read More
Vehicle production in Brazil increased in February with late Carnival holidays in 2019 helping to keep figures high during the month, although exports were still under pressure, local automotive association Anfavea said on Monday March 11.Brazilian automakers produced 257,233 light vehicles, trucks and buses in February, up 20.5% from 213,498 units a year earlier. Volumes also grew 29.9% from 198,...Read More
China's auto output and sales both decreased in February due fewer working days as a result of the February 4-10 Chinese New Year holiday. China produced 1.41 million units of vehicles in February, down 17.4% from 1.71 million units a year earlier and 40.4% lower than 2.37 million units in January, the China Association of Automobile Manufacturers (CAAM) reported on Monday March 11.Sales...Read More
Fastmarkets AMM attended the annual convention of the National Association of Steel Pipe Distributors (NASPD) on Thursday March 7 and Friday March 8 in New Orleans. Here are five themes gleaned in the sessions, on the sidelines and at the soirees.The US Gulf Coast is excited about China LNG import rumors. Reports that China may agree to buy an immense amount of liquefied natural gas (LNG) exp...Read More
Chinese finished steel exports decreased in February on both a yearly and a month-on-month basis amid uncompetitive prices and fewer working days as a result of the Chinese Lunar New Year holiday.The country shipped 4.51 million tonnes of finished steel out of the country last month, down 7% from the 4.85 million tonnes exported in February 2018, according to preliminary Chinese customs data...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 12.Fastmarkets had change the publication date its London Metal...Read More
Turkish steel producers have continued to book deep-sea scrap to replenish low stock levels despite the weak demand for finished steel products, sources said on Tuesday March 12.A steel producer in the Iskenderun region booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20), at $320 per tonne cfr.The cargo was scheduled to be shipped at the end of the March and was sold at the same...Read More