Turkish steel producers have accepted higher prices for scrap imports so that they can replenish their stocks and avoid halting production, although the finished steel market was still sluggish, sources said on Monday January 21.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 7,000 tonnes of shredded at $292 per tonne and 5...Read More
The price of ammonium paratungstate (APT) fell in China last week although the concentrates market edged up on tightening availability ahead of Lunar New Year. APT price falls in China; European price unchanged Concentrates price edges up on tightening supply in China Ferro-tungsten price in China moves down amid limited buying activity Fastmarkets MB assessed the fob China ammonium p...Read More
Copper-gold miner Sandfire Resources has submitted an offer of $80.8 million for fellow copper explorer MOD Resources, both companies announced on Monday January 21.Sandfire has made an offer of A$0.38 per share ($0.27) for MOD, a premium over the current valuation of A$0.22 per share, the two parties said in separate notices published by...Read More
Base metals on the London Metal Exchange complex consolidated in mixed morning trading on Monday 21 January, while market focus shifted to China's fourth-quarter data release.China's fourth-quarter GDP data was in line with expectations at 6.4%, down 0.1% from its previous recorded figure at 6.5%.''These numbers are basically in line with expectations, which were not optimistic,'' John Browning of...Read More
China produced 35.8 million tonnes of aluminium in 2018, up 7.4% year on year, according to data released by China's Statistics Bureau on Monday January 21, suggesting the annual winter production cuts did little to slow output in the country. Chinese output in December 2018 reached 3.05 million tonnes, marking an 11.3% increase from the same period of last year. Market producers said the only mod...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday January 21 *Copper -$80.05 (-544.76 yuan) Aluminium -$338.41 (-2,303.02 yuan) Zinc -$16.40 (-111.59 yuan) Nickel -$310.82 (2,115.27 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Despite weak Chinese gross domestic product (GDP) data that showed fourth quarter 2018 growth of 6.4%, after 6.5% in the prior quarter, the three-month base metals prices on the London Metal Exchange were for the most part holding up relatively well on Monday January 21, with prices just off slightly. The complex posted an average loss of 0.2%, with copper showing the largest reaction; the three-m...Read More
Base metals prices, barring those for tin, on the Shanghai Futures Exchange were up during Asian morning trading on Monday January 21, with residual optimism over trade talks between China and the United States helping to offset some weak Chinese data earlier this morning.Market sentiment had turned more bullish late last week following news that the US was mulling the removal of tariffs on Chines...Read More
Global aluminium billet premiums were flat or lower on Friday January 18, with market participants citing ample availability of material and lackluster demand as the main reasons behind the moves.At the same time, participants were said to be holding back from concluding deals while they await further developments regarding the US sanctions against Russian producer UC Rusal. Premiums in Southern E...Read More
Major Russian steelmaker Severstal recorded a spike in its sales of hot-rolled coil (HRC) to the EU in 2018, achieved by redirecting volumes that would otherwise have gone to other outlets, the company said on Friday January 18.In 2018, Seversal sold to the EU 1.5 million tonnes of HRC, the company told Fastmarkets. That was a 305% increase over the 370,000 tonnes of HRC exported to the same regio...Read More
The European long steel markets have started 2019 in lethargic fashion, disappointing suppliers that were resolutely raising their offer prices just two months ago in anticipation of strong demand.In November, rebar producers were confident of better prices on higher raw material costs, a forecast of strong demand, and external factors such as critically low water levels in the Rhine river and its...Read More
The United Arab Emirates has increased the import duty imposed on rebar to 10%, from the previous 5%, Dubai Customs announced on Wednesday January 16. The duties became effective the following day.The HS codes of the products that now have 10% import duty are: 72131000, 72132000, 7213900, 72139900, 72141010, 72141020, 72141090, 72142010, 72142010, 72142020, 72142090, 72143010, 72143020, 72143090.M...Read More
Novolipetsk Steel (NLMK), Russia's largest steelmaker, increased the export sales volumes from its Russian assets in 2018 because of higher demand for steel slabs and pig iron, the company said on Friday January 18.NLMK exported 10.91 million tonnes of semi-finished and finished steel products from its flat and long steel divisions in 2018. This was an increase of 9.1% from the divisions' total ex...Read More
China's hot-rolled coil prices maintained their strength on Monday January 21, particularly those in the export market, amid a drop in supply coupled with an improvement in sentiment.DomesticEastern China (Shanghai): 3,660-3,680 yuan ($540-543) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,630-3,650 yuan per tonne, widening downward by 10 yuan per tonnePrices were largely stable natio...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...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. Latest transaction: iron oreIron oreVale, Global Ore, 96,000 tonnes of 65%...Read More
Physical iron ore prices continued to advance on Monday January 21 after exceeding $75 per tonne cfr last Friday, following gains in the futures and rebar markets.MB 62% Fe Iron Ore Index: $75.90 per tonne cfr Qingdao, up $0.20 per tonne. MB 62% Fe Pilbara Blend Fines Index: $76.74 per tonne cfr Qingdao, up $0.20 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $77.14 per tonne cfr Qingdao, up $0....Read More
The seaborne coking coal market had a quiet start to the week, with many participants holding out for more transactions to emerge to set the tone for prices.Some 25,000 tonnes of a premium mid-vol product were traded at $193 per tonne fob Australia, market sources told Fastmarkets on Monday January 21. Chinese market participants are taking a break from procuring seaborne materials because "we are...Read More
The seaborne iron ore concentrate and pellet markets were little changed in the week ending Friday January 18, mainly due to limited buying activity in China.ConcentratesThe weekly MB 66% Fe Iron Ore Concentrate Index stood at $92.89 per tonne cfr China last Friday, up by $0.25 per tonne from January 11.The daily MB 65% Fe Iron Ore Index averaged $88.34 per tonne cfr China last week, compared with...Read More
China's ferrous futures largely declined during morning trading on Monday January 21 amid the release of industrial data by the National Bureau of Statistics (NBS). Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,644 yuan ($538) per tonne, down 9 yuan per tonneJanuary hot-rolled coil: 3,520 yuan per tonne, down 5 yuan per tonneDalian Commodity Exchange January iron...Read More