Turkish deep-sea scrap import prices remained flat on Tuesday January 29 after a confirmed booking for material from the United States, but deals for cargoes are expected to be agreed at higher prices in the coming days, sources said.A US cargo was sold on Monday but reports of the deal came to light only after the deadline for Monday's indices.A steel mill in the Marmara region booked a US cargo...Read More
Precious metals prices have the potential for a strong upside in 2019 alongside weakness in the US dollar and declining US Treasury yields, according to Georgette Boele, an analyst with Dutch bank ABN Amro.Boele told Fastmarkets that there was also casue for optimistic on platinum prices, which were "punished" in 2018 due to lower demand for jewelry in China and because diesel cars lost some marke...Read More
Comex copper prices bounced back in US morning trading on Tuesday January 29 amid a softening dollar and anticipation for the start of US and Chinese trade talks. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 3.35 cents to $2.7135 per lb. "The main focus on the markets will be on the US/Chinese trade talks which get under way tomorrow,"...Read More
Cobalt consumers are increasing their exposure to the emerging hydroxide spot market in 2019 in response to rising supply volumes of intermediates and differing fundamentals at other points along the supply chain.Traditionally, buyers have signed annual or multi-year contracts with suppliers to secure the supply of cobalt hydroxide. In most cases, payment was negotiated and agreed by both parties...Read More
Fastmarkets proposes to launch two reference prices for the cobalt hydroxide market to capture and quantify the standalone fundamentals of the cobalt intermediates market through its emerging spot trade.Fastmarkets will launch a single-figure monthly cobalt hydroxide index, and a twice-monthly cobalt hydroxide payable indicator, both on the basis of min 30% Co, cif China.Cobalt hydroxide, typicall...Read More
Hot-rolled (HR) and cold-rolled (CR) steel sheet prices in Russia's Central Federal District around Moscow may increase on talk of reduced availability, sources told Fastmarkets on Monday January 28. "Mills say they can [only offer stockists] tonnages already held in stock [by traders], citing that March-rolled flats was sold out and unavailable for the free market," one large stockist told F...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, but demand has remained soft, sources said on Tuesday January 29.Demand was subdued because stock levels in the UAE were already high and buyers wanted to see which direction prices would move after the Lunar New Year holiday in China, sources told Fastmarkets.UAEIndia-origin HRC was on of...Read More
Tata Steel Europe has restarted its blast furnace (BF) No 5 at the Port Talbot mill in the UK following the facility's upgrade that began in September last year, the company said on January 29.BF No 5 is one of two operational blast furnaces at the 3 million tonnes-per-year capacity Port Talbot site."The life extension project of BF No 5 cost tens of millions of pounds and is a critical part of Ta...Read More
Rebar suppliers to Russia's Central Federal District, the major steel-consuming region in the country, have cut their prices because demand in the secondary market remains seasonally weak. Fastmarkets' weekly price assessment for the domestic 12mm A500C rebar in Russia, including 20% VAT, was 33,700-33,800 roubles ($510-512) per tonne cpt Moscow on Monday January 28 , down from 35,000-35...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: rebarRebarOman, export, rebar, offered at $500-510 per tonne cfr, to the...Read More
The import price for steel billet in the United Arab Emirates increased this week on higher offers, sources told Fastmarkets on Tuesday January 29.Domestic rebarLocal rebar producers in the UAE announced reduced prices on January 21 for material to be shipped in February.The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, while Conares Ste...Read More
Turkish deep-sea scrap import prices remained flat on Tuesday January 29 after a confirmed booking for material from the United States, but deals for cargoes are expected to be agreed at higher prices in the coming days, sources said.A US cargo was sold on Monday but reports of the deal came to light only after the deadline for Monday's indices.A steel mill in the Marmara region booked a US cargo...Read More
Physical iron ore prices continued to advance toward $80 per tonne cfr on Tuesday January 29 despite limited trading activity in China while the Lunar New Year approaches.MB 62% Fe Iron Ore Index: $78.69 per tonne cfr Qingdao, up $0.51 per tonne. MB 62% Fe Pilbara Blend Fines Index: $79.53 per tonne cfr Qingdao, up $0.51 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $80.19 per tonne cfr Qingdao...Read More
China's steel and steelmaking raw materials futures rose during morning trading on Tuesday January 29. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,683 yuan ($546.10) per tonne, up 20 per tonneMay hot-rolled coil: 3,584 yuan per tonne, up 7 yuan per tonneDalian Commodity...Read More
The import price for steel billet in the United Arab Emirates increased this week on higher offers, sources told Fastmarkets on Tuesday January 29.Domestic rebarLocal rebar producers in the UAE announced reduced prices on January 21 for material to be shipped in February.The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, while Conares Ste...Read More
China's rebar prices were flat on Tuesday January 29 in the both domestic and export markets amid low trading activity.Domestic Eastern China (Shanghai): 3,710-3,750 yuan ($550-556) per tonne, unchangedNorthern China (Beijing): 3,700-3,740 yuan per tonne, unchangedRebar futures traded lower than Monday's settlement price of 3,711 yuan per tonne throughout the day, resulting in bearish sentiment in...Read More
Import prices for steel slab in Southeast Asia and East Asia have inched down further for a fourth consecutive week amid sluggish downstream markets.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $415-425 per tonne cfr on Monday January 28, narrowing downward by $5 per tonne from a week earlier.A booking involving 25,000 tonnes of slab from a major mil...Read More
Higher sales prices brought slight price increases to European high-carbon ferro-chrome and imported charge chrome in China in the week ended Friday January 25 amid low activity prior to the Chinese New Year holiday. Imported charge chrome in China increases by 1.3% Domestic spot ferro-chrome prices in China stable Imported ferro-chrome into Japan, South Korea and US steady Europea...Read More
The domestic ferro-silicon market in China has been steady in the past week, consolidating a small recovery made the week before, amid low-key trading. In Europe, ferro-silicon prices fell to lows last seen in July 2017 when traders cut their offer prices to encourage buying interest amid slow demand. Chinese market holds up with supplies reduced European suppliers cut offer prices on slow demand...Read More
Low-grade manganese ore prices showed signs of recovery in the week ended Friday January 25 while high-grade flattened amid increased liquidity ahead of Chinese New Year in early February. Low-grade manganese ore prices ticked up in China, high-grade holdsPhysical silico-manganese prices hold in China, India, EuropeFerro-manganese holds globallyUS silico-manganese prices edge up Low grade mangane...Read More