China's ferrous futures, apart from the iron ore contract, had a strong start to the trading week, ending the morning session on Monday January 14 higher than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,559 yuan ($526) per tonne, up 25 yuan per tonne May hot rolled coil: 3,453 yuan per tonne, up 25 yuan per tonne Dalian Commodity Exchange Ma...Read More
While decreasing raw material costs have driven special bar quality (SBQ) prices down by $1.50 per hundredweight ($30 per short ton) across all grades, most sources offered an optimistic forecast for the year ahead.Fastmarkets AMM's assessment for 1-inch round 1000 series (carbon) hot-rolled bar was $43.50 per cwt ($870 per ton) fob mill on Friday January 11, down 3.3% from $45 per cwt previously...Read More
China's rebar prices moved higher on Monday January 14 in both the domestic and the export market amid rising futures and optimism among producers. Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($550-556) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,650-3,690 yuan per tonne, up 10 yuan per tonneRebar futures rose sharply at the open of today's trading session, pushing...Read More
Import prices for rebar in Singapore fell over the past week on soft end-user demand despite the return of key market participants. The appreciation of the Chinese yuan to 6.79 yuan to a US dollar last Friday January 11 - from 6.88 yuan per dollar at the start of the year - did not lend any support to the market.Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly lo...Read More
The Turkish steel producers skipped the first day of the week without any deep-sea bookings, while prices were little changed, sources said on Monday January 14.Turkish mills have booked some deep-sea cargoes in the past week from US and Baltic Sea suppliers at around $280 per tonne cfr for HMS 1&2 (80:20) to replenish their stock levels. However, the weakness in finished steel markets w...Read More
Domestic scrap prices in Turkey remained largely stable on the back of moderate demand over the past week, sources said on Monday January 14.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,450-1,590 ($266-292) per tonne delivered on January 14, widening from TRY1,480-1,550 per tonne last week.Long and flat steel producer...Read More
Anglo American sold a Minas Rio cargo based on the Fastmarkets MB 66% Fe iron ore concentrate index, market sources said on Monday January 14, following restart of operations at the mine last month.The spot market trade involved a 170,000-tonne cargo of 67.7% Fe blast furnace pellet feed material sold at the February average of the Fastmarkets MB 66% Fe iron ore concentrate cfr China index, adjust...Read More
Buying activity started to revive gradually in the CIS export steel billet market after the new year holidays, Fastmarkets has heard. Several large sales were reported from Ukraine to Asia, helping to keep prices stable.Billet offers from the CIS region were mainly heard within the range of $405-410 per tonne fob Black Sea. Some mills gave higher offers, but these were rejected by market participa...Read More
China's rebar prices moved higher on Monday January 14 in both the domestic and the export market amid rising futures and optimism among producers. Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($550-556) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,650-3,690 yuan per tonne, up 10 yuan per tonneRebar futures rose sharply at the open of today's trading session, pushing...Read More
The Chinese ferro-silicon market fell for the third week in a row in the week ended Friday January 11, extending losses amid persistently high volumes on offer from smaller producers, Fastmarkets has learned.Elsewhere, the European market has been quiet in January, but held steady despite subdued trading. China market sees further losses More Chinese losses expected ahead of lunar new year holiday...Read More
From 2019, Chinese central government regulators will begin a new round of environmental protection inspections in the country's metals and mining industry, which will take about four years to complete.The affected regions include all 31 provinces - including districts and cities - in China that were included in an earlier round of environmental inspections that took place over the past three year...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 9, although the European Commission's recent proposal for 2019 steel import tariffs has removed some of the uncertainty in the market. Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe remained at $540-560 ($618-641) per tonne delivered on Wednesday, with no new deals reporte...Read More
Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More
The Chinese ferro-silicon market fell for the third week in a row in the week ended Friday January 11, extending losses amid persistently high volumes on offer from smaller producers, Fastmarkets has learned.Elsewhere, the European market has been quiet in January, but held steady despite subdued trading. China market sees further losses More Chinese losses expected ahead of lunar new year holiday...Read More
Base metals prices on the London Metal Exchange were mostly lower day-on-day at the close of trading on Monday January 14, with investors continuing to limit commodity investment after weak Chinese export data fueled concerns of a slowdown in global economic growth.The three-month lead price fell furthest over the afternoon and remained in negative territory, trading at less than $2,000 per tonne...Read More
KGHM Polska Miedz's Rudna copper mine, Europe's largest copper ore mine, has suspended part of its operations following a fatal earthquake in the southwest of Poland last weekend, Fastmarkets learned.One of the branches, called G-7, has been closed while the rest of the operation continues with production, KGHM spokeswoman Anna Osadczuk said on Monday, without disclosing an estimate on the affecte...Read More
Buying activity started to revive gradually in the CIS export steel billet market after the new year holidays, Fastmarkets has heard. Several large sales were reported from Ukraine to Asia, helping to keep prices stable.Billet offers from the CIS region were mainly heard within the range of $405-410 per tonne fob Black Sea. Some mills gave higher offers, but these were rejected by market participa...Read More
Commodity derivatives trader Jo Harmendjian has left his role in the base metals team at Societe Generale and has joined Switzerland-based investment management firm, Tiberius Group, Fastmarkets has learned. Harmendjian began his career in financial derivatives for Groupe Credit Agricole, working closely with fixed income as a sales and portfolio analyst, before moving to Paris to join...Read More
Much has been said of a potential increase in tellurium prices after concerns about a tellurium deficit in 2020 were raised in recent months; but despite firm demand from the solar industry, there are no clear indicators that prices will peak anytime soon due to current market dynamics. Robust solar demand The main driver of increased tellurium consumption is the growth in the cadmium telluride ph...Read More
Participants in the Japanese market are deciding whether to change the benchmark price for long-term ferro-chrome contracts to China's monthly steel mill ferro-chrome tenders price from the quarterly European benchmark price, market participants told Fastmarkets.Traditionally, Japanese buyers use the European benchmark as a point of reference for their long-term contract negotiations, but ultimate...Read More