Alloy steel scrap prices were influenced a range of factors in the week ended Friday January 18, including divergent pricing trends for key alloy components, poor demand and changing currency values.The result of this was that scrap price developments have shown mixed fortunes.Demand from mills remained poor and buying mills held the advantage in price negotiations, and this put downward pressure...Read More
The price of shredded ferrous scrap imported into India was stable this week, with deals done at prices similar to last week, market participants said on Friday January 18.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $318.73 per tonne cfr Nhava Sheva on January 18, little changed from $319.24 per tonne cfr Nhava Sheva on January 11.There were five deals for...Read More
The Turkish steel mills have continued to book deep-sea scrap but at a slow pace, with prices largely stable, sources said on Friday January 18.A steel producer in the Izmir region booked a US cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $283 per tonne and 5,000 tonnes of shredded at $288 per tonne cfr."The mills are trying...Read More
Seaborne iron ore prices went up on Friday January 18 with Chinese steel mills stockpiling material ahead of the upcoming Chinese new year holiday.MB 62% Fe Iron Ore Index: $75.70 per tonne cfr Qingdao, up by $1.15 per tonne.MB 62% Fe Pilbara Blend Fines Index: $76.54 per tonne cfr Qingdao, up by $1.34 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.88 per tonne cfr Qingdao, up by $0.96 per to...Read More
Copper, zinc and lead stocks on the Shanghai Futures Exchange were up week on week on Friday January 18 in a quiet trading week in China, while aluminum, nickel and tin stocks fell. Deliverable zinc stocks at SHFE-approved warehouses rose by 9.25% or 2,492 tonnes to 29,434 tonnes in the week to Friday. Shanggang Logistic had 3,495 tonnes of zinc delivered into its warehouse, an increase of 300% or...Read More
Growing optimism for a US-China trade agreement has prompted London Metal Exchange base metals prices to consolidate higher across the board in morning trading on Friday January 18, with zinc's 1.3% increase leading the charge. Zinc's three-month price recently traded at $2581.50 per tonne, up 1.3% from Thursday's close. The climb in the metal's futures price comes after volatile price action last...Read More
Seaborne coking coal prices were up on Friday January 18, with supply concerns emerging during the day on news of disruption to operations at Abbot Point port in Queensland, Australia, market sources said. Safety-related incidents had led to suspension of operations at two berths at the Abbot Point coal terminal, sources said. The port operator, however, could not be reached for comment at the tim...Read More
China's hot-rolled coil prices picked up more strength on Friday January 18 on improved sentiment.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($539-542) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,640-3,650 yuan per tonne, narrowing upward 50 yuan per tonneAlthough prices rose in Shanghai while those in Tianjin narrowed upward, a Hangzhou-based trader said these were large...Read More
Key data from the Friday January 18 pricing session in Europe.Key driversBenchmark cobalt prices continue to slide, with some market participants eager to sell units not committed to 2019 contracts. Wide premium for standard-grade over alloy-grade material narrows as...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 January 18:Minor metalsBismuth MB China domestic, yuan/tonne: 49,000-51,000 yuan per tonne from 49,500-51,000 yuanChromium MB free market alumino-thermic, $/tonne: $9,600-9,950 per tonne from $9,800-10,200Cobalt MB free market alloy grade, $/lb: $20.50-22.50...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday January 18. China The domestic ferro-chrome spot price was unmoved amid thin trading activity. Many market participants await February's tender prices, which mills are expected to release next week. Higher trade prices and increased liquidity pushed up the UG2...Read More
Import prices for stainless steel in Asia appear to have stabilized after a six-month slump thanks to an uptick in demand, a recovery in the nickel market and a potential drop in Indonesian supply. These seem to have put an end to the region's heated price war, sources told Fastmarkets MB on Wednesday January 16.Prices for 304 stainless cold-rolled coil and hot-rolled coil began to decline in earl...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday January 18:Aluminium ingotDuty paid delivered works...Read More
Import prices for ferrous scrap in Vietnam continued to fall this week amid bearish sentiment in the market, while those in Taiwan held up due to low selling interest and sluggish trading.In contrast, steel mills in South Korea continued to book large quantities of ferrous scrap in the early part of the week from the United States.VietnamImport prices into the Southeast Asian nation softened again...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday January 17, with zinc futures climbing just under 2% while positive trading in aluminium resulted in the metal's moderate volume the highest in today's trading. Zinc's three-month price rallied throughout the afternoon to breach its nearby $2,500-per-tonne resistance level and close at its highest level...Read More
The Comex copper price reversed lower in the US morning on Thursday January 17 with the market unable to find solid direction amid a lack of news on trade developments between the United States and China. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents to $2.6640 per lb. "We are seeing modest losses across the metals board in relati...Read More
China's exports of unwrought aluminium and aluminium products increased by 19.8% in December 2018 compared with December 2017, but down 0.6% from November 2018, according to preliminary Chinese customs data.China exported 527,000 tonnes of unwrought aluminium and aluminium products in December, a 87,000-tonne increase from the same month of 2017 and 3,000 tonnes less than in November 2018, customs...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 17 that are worth another look.China's auto sales fell last year for the first time since the 1990s, dampening expectations for steel demand in 2019 although some in the market think that there are still opportunities for steelmakers to remain profitable.The London Metal Exchange announced it will launch seven new...Read More
United States-based Alcoa, the world's eighth-largest aluminium producer, has forecast a surplus of alumina in 2019 while it increases metal production across the board.There was a 600,000-tonne deficit of alumina at the end of 2018, the company said, rounding off a year of record market tightness.Fastmarkets' alumina index rocketed upward to $707.75 per tonne on April 24, 2018, the highest since...Read More