Iranian export billet prices picked up over the past week as suppliers managed to achieve higher sales prices amid the uptick in the global billet market. Several cargoes of Iranian billet for March shipment were sold to Asia in the week to Wednesday January 30 at $360-370 per tonne fob, up from $350 per tonne fob a week earlier. Iranian billet suppliers followed the trend in the global marke...Read More
European molybdenum prices rose this trading this week, with both molybdenum oxide and ferro-molybdenum prices paring almost all losses so far this year, with higher oxide offer prices behind the rise in the alloy market.Still, there were few deals reported and industry sources said there is a disparity between oxide fundamentals and those in ferro-molybdenum, casting doubt on the sustainability o...Read More
US titanium producer Global Titanium, which is based in Detroit, Michigan, has suffered no impact to production after a fire at its plant earlier this month.The company, which has the capacity to make 10,000 tonnes per year of 70% grade (Ti) alloy and is one of the biggest ferro-titanium producers in the world, said the impact of the fire had only slowed production of fines. The fire on January 3...Read More
Indonesia's stainless hot-rolled coil exports are expected to rise further in 2019 after nearly tripling in the first three quarters of 2018. Exports of Indonesian stainless HRC totaled 877,990 tonnes during January to September 2018, a year-on-year jump of 170.9% from 324,108 tonnes in 2017, the country's Ministry of Industry said on Monday January 28.Stainless slab exports also rose sharply...Read More
The pig iron export market in the Commonwealth of Independent States (CIS) was confused by the opposing price directions taken by the raw materials and finished steel products markets during the week ended Thursday January 31.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $315-325 per tonne fob Black Sea on January 31, down from $320-330 per tonne a week before."The s...Read More
Base metals prices on the London Metal Exchange were collectively higher day on day at the close of trading on Thursday January 31, with a softer US dollar and improved trade sentiment supporting commodity investment.Copper's three-month price continued on an upward trend throughout afternoon trading, with total volumes topping the complex and more than 18,000 lots changing hands by the close.Pric...Read More
The price of billet in the Commonwealth of Independent States' (CIS) market moved up by the end of the week after customers in North Africa accepted higher levels in deals.A 50,000-tonne cargo of Russian billet - with increased manganese content - was reported sold to Algeria at $440 per tonne cfr, with freight cost assessed at $15 per tonne and additional manganese at $5 per tonne. This is normal...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 31 that are worth another look.United States President Donald Trump strengthened Buy America requirements for infrastructure in an executive order on Thursday January 31, in a potential boost to domestic iron, steel and aluminium industries, among others. Lawmakers in the United States have introduced legislat...Read More
Manganese ore prices are showing signs of recovery after a poor start to 2019 that was blamed largely on bearish sentiment around silico-manganese and steel markets in China.Low-grade manganese ore prices have edged up in late January amid a flurry of demand ahead of Chinese New Year, which meant some of the firmer offers in the market were successful, despite the fact that some miners had cut off...Read More
In Zhuzhou - former home of China's top zinc smelter - the skies aren't exactly blue, but they're starting to clear up. Today the city in Hunan province registered an air quality index of close to 250, regarded as "very unhealthy". Still, the index, which measures particulate matter PM2.5, was close to 280 at the same time last year. It was home to the Zhuzhou Smelter Group, the world's fifth larg...Read More
Base metals prices on the London Metal Exchange were collectively higher day on day at the close of trading on Thursday January 31, with a softer US dollar and improved trade sentiment supporting commodity investment.Copper's three-month price continued on an upward trend throughout afternoon trading, with total volumes topping the complex and more than 18,000 lots changing hands by the close.Pric...Read More
Seaborne iron ore prices jumped above $85 per tonne cfr China on Thursday January 31, with deals for Brazilian fines closing at higher levels after Vale's decision to reduce the output of its southern systems.MB 62% Fe Iron Ore Index: $85.34 per tonne cfr Qingdao, up $2.81 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.18 per tonne cfr Qingdao, up $2.81 per tonne. MB 62% Fe Iron Ore Index-Low...Read More
Zinc gained more than 1% in morning trading on the London Metal Exchange on Thursday January 31, breaching technical support at its 100 DMA for the first time since July 2018 amid continued stock drawdowns and cancelations. Volumes were decent at more than 5,000 lots as of 10:00am London time, just behind copper's 5,800 lots. Easing tightness in zinc's cash/three-month spread, which has narrowed t...Read More
Domestic prices for hot-dipped galvanized (HDG) coil in Europe resumed their downward trend this week, but have now "reached the bottom," sources told Fastmarkets.Market participants said that prices moved down this week on slow trading because buyers have sufficient stocks.Demand, however, is expected to improve due to the restocking that is expected to start in February."Buyers will be maki...Read More
Turkish deep-sea scrap import prices moved down on Thursday January 31 following more bookings done at slightly lower levels, sources told Fastmarkets.Four more bookings add to the 16 other bookings that have come to light this week. A steel mill in the Samsun region booked a US cargo comprising 28,000 tonnes of HMS 1&2 (90:10) and 6,000 tonnes of shredded at an average price of $316 per tonne cfr...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 31 that are worth another look.United States President Donald Trump strengthened Buy America requirements for infrastructure in an executive order on Thursday January 31, in a potential boost to domestic iron, steel and aluminium industries, among others. Lawmakers in the United States have introduced legislat...Read More
Comex copper prices moved higher on Thursday morning in the United States, with an improving macroeconomic backdrop lifting the entire base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose 2.25 cents to $2.79 per lb. "The improved macroeconomic backdrop has provided risk sentiment with a good bullish vibe, allowing the red met...Read More
Zinc gained more than 1% in morning trading on the London Metal Exchange on Thursday January 31, breaching technical support at its 100 DMA for the first time since July 2018 amid continued stock drawdowns and cancelations. Volumes were decent at more than 5,000 lots as of 10:00am London time, just behind copper's 5,800 lots. Easing tightness in zinc's cash/three-month spread, which has narrowed t...Read More
In Zhuzhou - former home of China's top zinc smelter - the skies aren't exactly blue, but they're starting to clear up. Today the city in Hunan province registered an air quality index of close to 250, regarded as "very unhealthy". Still, the index, which measures particulate matter PM2.5, was close to 280 at the same time last year. It was home to the Zhuzhou Smelter Group, the world's fifth larg...Read More
Trade log for nickel sulfate in China including transactions, bids and offers reported to Fastmarkets MB.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. Fastmarkets MB prices Click here for Fastmarkets MB's price assessment for nickel sulfate, Ni 21% min 22.5% max, China ex-works, yuan/tonne. The exchange rate according to...Read More