Turkish steel mills resumed their deep-sea scrap bookings at the end of this week with a sharp decrease in the prices, sources said on Friday February 22.A steel producer in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $307 per tonne and 5,000 tonnes of bonus at $317 per tonne cfr, late on February 21.This compared with the previous Baltic Sea cargo...Read More
Iron ore prices continued to correct on Friday February 22 amid volatility in the futures market and low seaborne liquidity.MB 62% Fe Iron Ore Index: $86.65 per tonne cfr Qingdao, down $0.03 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.05 per tonne cfr Qingdao, down $0.03 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.43 per tonne cfr Qingdao, up $0.07 per tonne. MB 58% Fe Premium Ind...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. ...Read More
The seaborne coking coal market was quiet on Friday February 22 following a flurry of transactions through the week that sent prices of premium hard coking coal up by more than 4% over the week.Fastmarkets' cfr China Premium Hard Coking Coal Index was unchanged from the previous day at $212.60 per tonne on Friday, but up 4.8% from Monday, while the fob Australia Premium Ha...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday February 22, with three-month copper and nickel prices breaching nearby resistance levels, while trade sentiment around US-China trade talks continues to support commodity investments. Copper's three-month price continues to trade in an uptrend amid a decade-low in LME stocks, while traded volumes r...Read More
China's hot-rolled coil prices continued to rise on Friday February 22, boosted by sellers pushing for higher prices amid pre-weekend restocking.DomesticEastern China (Shanghai): 3,780-3,790 yuan ($563-564) per tonne, narrowing upward 20 yuan per tonneNorthern China (Tianjin): 3,720-3,730 yuan per tonne, up 30 yuan per tonneSellers enjoyed higher prices today, with buyers restocking as usual...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday February 22* Copper -$162.52 (-1,095.04 yuan) Aluminium -$340.73 (-2,295.78 yuan) Zinc -$99.84 (-672.67 yuan) Nickel -$295.69 (-1,992.3yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
China's domestic rebar prices maintained their upward trend on Friday February 22 with stockists looking to replenish their inventories. Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($554-560) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,730-3,750 yuan per tonne, up 30 yuan per tonneSome stockists were actively buying rebar to replenish inventories, wh...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 February 22:Bismuth MB China domestic, yuan/tonne: 48,500-50,500 yuan per tonne from 49,000-51,000 yuanChromium MB free market alumino-thermic, $/tonne: $8,800-9,600 per tonne from $8,800-9,650Cobalt MB free market alloy grade, $/lb: $15.60-16.80 per lb from $15.90-17.35Cobalt MB free market standard grade,...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
Standard-grade cobalt prices were forced closer in line with prices for alloy-grade material earlier this week after consumers resisted paying a premium for the former, despite its tighter availability. Fastmarkets assessed the standard-grade cobalt price at $16.05-18 per lb, in-warehouse Rotterdam, on Wednesday February 20, down by 6.2% from $17-19.30 per lb on February 15.The alloy-grade cobalt...Read More
Prices for long and flat stainless steel products in Europe were stable this week, but at least one producer has announced sharp increases for March and the rest of the market is expected to follow suit.Finland-based Outokumpu announced on its website on Thursday February 21 that alloy surcharges for grade-304 cold-rolled (CR) sheets for March will increase by ?,?123 ($139) per tonne to ?,?1,351 (...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 22. Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 22.China The domestic ferro-chrome spot price rose in response to higher raw material prices pushing up production costs. But Tisco steel mill announced their March tender...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday February 22:Aluminium scrap Floated Frag: ?,?1,050-1,095 per tonne from...Read More
Asian ferrous scrap demand softened this week, especially after Vietnamese buyers booked large quantities last week. Price falls in key bellwhether market Turkey alsoexacerbated bearish sentiment. Some Asian ferrous scrap market participants feel that prices have peaked and are getting ready to fall after this week."Prices have most likely peaked and should start coming off soon," a ferrous scrap...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday February 21, with strong afternoon performances in the prices of three-month aluminium, tin and lead amid a slowdown in copper and nickel activity.The three-month aluminium price climbed by 2% over the afternoon to reach its highest point since February 7, while a fresh cancelation of more than 17,000 to...Read More
Copper price moves on the United States' Comex trading system reversed in morning trading on Thursday February 21 after recent trade talks between the US and China gave no boost to metal prices.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped on Thursday by 2.30 cents per lb to $2.8970 per lb.Senior officials from the US and China are engaged i...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Thursday February 21, with positive steps in US-China trade talks doing little to support slumping prices although both copper and nickel futures held ground. Copper's three-month price consolidated lower over the morning but remains well supported above $6,300 per tonne by LME inventory which is at a decad...Read More
With the vast majority of the world's diamonds estimated to be conflict-free following the development of certification procedures under the Kimberley Process, the mining industry is now developing a blockchain-based solution to track the supply chain of the precious stones. The industry still faces challenges from insurance fraud, the financing of global pipelines and the tampering of official ce...Read More