The price of shredded ferrous scrap imported into India inched up this week following deals done at higher prices from last week but for smaller tonnages, market participants said on Friday January 11.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India inched up to $319.24 per tonne cfr Nhava Sheva on January 11, from $318.39 per tonne cfr Nhava Sheva on January 4....Read More
Turkish steel mills continued to book deep-sea ferrous scrap for February at the end of the week because of low stock levels, sources told Fastmarkets on Friday January 11.A steel mill in the Iskenderun region booked a US cargo, comprising 25,000 tonnes of HMS 1&2 (95:5) at $283 per tonne and 13,000 tonnes of shredded at $285 per tonne cfr.Market participants indicated that the HMS 1&2 (80:20) pri...Read More
The light iron steel scrap market in the United Kingdom has been stable in the week ended Friday January 11, extending a steady performance in prices to a fourth consecutive week.The market's focus is on the outcome of contact negotiations between British scrap suppliers and consumers in the steel industry, most of which are expected to be concluded early next week.While some sources suggest deals...Read More
Iron ore prices were largely rangebound on Friday January 11 with further pressure applied to the port market due to a stronger exchange rate for China's yuan against the US dollar.MB 62% Fe Iron Ore Index: $73.45 per tonne cfr Qingdao, up by $0.09 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.59 per tonne cfr Qingdao, up by $0.09 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $75.04 per ton...Read More
An overview of the minor metals markets and the reasons for any price moves.What will drive prices in 2019? Join...Read More
The following Fastmarkets minor metals prices changed on Friday January 11:Minor metalsBismuth MB China domestic, yuan/tonne: 49,500-51,000 yuan per tonne from 47,000-49,000 yuanCobalt MB free market alloy grade, $/lb: $22.00-24.50 per lb from $24.50-26.25Cobalt MB free market standard grade, $/lb: $23.50-25.25 per lb from $24.75-26.25Cobalt Sulfate, Co...Read More
An overview of the minor metals markets and the reasons for any price moves.What will drive prices in 2019? Join...Read More
Base metals on the London Metal Exchange were firmer this morning, Friday January 11, with three-month prices up by an average of 0.9%. Zinc and nickel led the way with gains of 1.3% and 1.2% respectively, while copper was up by 0.9% at $5,972 per tonne as at 6.45am London time - the same price it held at a similar time on Thursday.Volume across the complex has been above average with 8,805 lots t...Read More
Prices were unchanged in the European stainless market in the week to Friday January 11, with trading beginning to pick up after the Christmas/New Year break int he region - although full activity has not yet been achieved. It remains unclear to what extent the sharp decreases to alloy surcharges have been implemented by distributors and service centers in their own selling prices. Many such...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday January 11:Aluminium ingotDuty paid delivered works pressurediecasting ingot price...Read More
Asian ferrous scrap prices dipped during the week ended Friday January 11 this week despite stronger demand from end users in the region.Steel mills in Vietnam and South Korea booked large volumes of ferrous scrap throughout the week from the United States, Japan and Russia. However, prices did not increase due to the ample supply in the market.Vietnam Fastmarkets' import price assessment for heav...Read More
Manganese ore prices have started 2019 by continuing a slide that began last December, weighed down by weak downstream demand in China, where market participants are reluctant to buy amid price risk fears.Manganese ore prices have started 2019 by continuing a slide that began in December, weighed down by weak downstream demand in China, where market participants are reluctant to buy because of fea...Read More
Base metals prices on the London Metal Exchange had mixed fortunes at the close of trading on Thursday January 10, with zinc's three-month price continuing its downtrend while positive US job data spurred a marginal uptick in the US dollar index.Zinc's three-month price continued to trade in a downtrend over the afternoon, closing 1.2% lower day on day and falling further from its support level of...Read More
The London Metal Exchange has altered its fee-cap structure to accommodate position transfers related to the United Kingdom's impending exit from the European Union (Brexit), in line with the requirements of its membership base, according to a note released to members on Tuesday January 8.Previously, the LME's position transfers, which are a common feature in exchange-traded derivatives markets an...Read More
Zinc came under pressure on the London Metal Exchange in morning trading on Thursday January 10, shrugging off continued market optimism about recent US-China trade talks.The three-month zinc price fell 1.2%, ignoring the continued drawdown of LME inventories - only 109,025 tonnes are now on-warrant. Additionally, the metal's cash/three-month spread remains in a backwardation of $21.50, narrowing...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 10 that are worth another look.Chinese central government regulators will begin a new round of environmental protection inspections in the country's metals and mining industry this year, which will take about four years to complete. The volatility in manganese ore prices should rise in 2019 while increases in...Read More
Fastmarkets looks at five key things to watch out for in China's nickel and stainless steel markets this year against a backdrop of nickel pig iron (NPI) project ramp-ups and a country-wide clampdown on new crude stainless steel capacity.NPI deficit to persist despite project ramp-upsWhile the ramp-ups of a number of NPI projects were announced in 2018 and this is expected to narrow the deficit of...Read More
The volatility in manganese ore prices should rise in 2019 while increases in alloy smelting production and rail transportation capacity in China filter into the market, however, prices are expected to soften short term due to pressure from alloy smelters, market participants said.Higher volatility in the manganese ore price would represent a return to normality, with the last six months of 2018 u...Read More
The Chinese domestic cobalt sulfate price has moved up due to tightened supply amid active restocking activities ahead of the Lunar New Year holiday from February 4-10.Fastmarkets MB's China cobalt sulfate, basis 20.5% Co, ex-works price rose to 66,000-68,000 yuan ($9,669-9,962) per tonne on Wednesday January 9, from 65,000-68,000 yuan per tonne previously. Meanwhile, the accelerated downtrend in...Read More
Turkish steel producers continued to book deep-sea scrap to replenish low stock levels on Thursday January 10, while the finished steel markets were still weak.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 28,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 5,000 tonnes of shredded at $285 per tonne and 3,000 tonnes of bonus at $290 per tonne...Read More