Fastmarkets proposes to discontinue its weekly aluminium premium assessments for aluminium P1020A fob Singapore and aluminium P1020A fob Malaysia. The proposal is based on market feedback that these markets see limited liquidity on an fob basis, with some sources noting that market participants in this region use premiums on an fca basis or in-warehouse warrants instead as a pricing reference. Sub...Read More
The Turkish steel mills went quiet in the deep-sea scrap markets at the beginning of this week with the market digesting the news of purchases that were heard at the end of last week, sources said on Monday January 7.A steel producer in the Iskenderun region booked a US cargo on January 4, comprising 33,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 3,000 tonnes of shredded at $285 per tonne and...Read More
Here are five Fastmarkets MB stories you might have missed on Monday January 7 that are worth another look.A resolution of disapproval introduced by United States Senate Democratic Leader Chuck Schumer on Friday January 4 opens the door to sanctions remaining in place against Russian aluminium producer UC Rusal, although some trade lawyers and analysts said those efforts might be in vain.Alum...Read More
Alumina and aluminium trader Alexander Bullett has left Singapore trading house Noble, Fastmarkets learned. Bullett was with the company for nearly six years and...Read More
Fastmarkets proposes to discontinue its premium assessments for special high grade (SHG) zinc basis in-warehouse Singapore and Malaysia. The proposal is based on market feedback that there is limited use for these premiums as reference prices, with the majority of market participants basing their business on Singapore and Malaysia premiums on a fca basis. Therefore, Fastmarkets intends to disconti...Read More
Fastmarkets proposes to discontinue three European lead premiums and invites market feedback in a one-month consultation. Fastmarkets has noted a significant lack of liquidity in the three European lead premium markets it assesses, which has led to insufficient data contribution to support the representativeness of it prices. On top of lackluster spot trading interest, the representativeness of st...Read More
Comex copper prices turned modestly lower in the United States on Monday January 7 with a lack of market news and evolving macroeconomic worries. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.35 cents to $2.6440 per lb. Trade talks between China and the US have seen minimal progress over the past few weeks and the lack of resolution is cas...Read More
On Monday January 7, Fastmarkets MB published an incorrect figure for the Shanghai-London physical arbitrage calculation for copper.The price was published in the price book as -$65.70 per tonne (-451 yuan) on Monday January 7, when it should have been -$64.54 per tonne (-443.04 yuan).Fastmarkets MB's price book and database have been updated to reflect this correction. Fastmarkets MB calcula...Read More
Brazilian domestic steel prices were unchanged in the last month of 2018 and through the first days of 2019, with stronger foreign exchange rates in the country mitigated by the Chinese price downtrend easing somewhat.On the flat steel side, the market was steady in the first days of the year, with no price readjustments compared with the previous month. But small discounts to large-volume purchas...Read More
Turkey increased the hot-rolled coil (HRC) import duty to 6% for re-rollers from 3.5% previously, effective from January 1, 2019.The country will impose the import duty on HRC imports from re-rollers as well as tube and pipe producers. Tube and pipe producers were previously exempt from the duty discount until January 1.The duty for re-rollers was 5% until January 1, 2018, when it was reduced to 3...Read More
Import prices for steel slab in Southeast Asia and East Asia narrowed downward over the past week due to lower offers and bids, amid persistent bearish sentiment and lackluster finished steel markets.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $430-435 per tonne cfr on Monday January 7, down from $430-440 per tonne cfr a week earlier.Trading ac...Read More
China's hot-rolled coil prices picked up some strength on Monday January 7 amid steady demand, with supply said to be tightening amid producers' bearish outlook for the market.DomesticEastern China (Shanghai): 3,670-3,680 yuan ($534-536) per tonne, up 30 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, up 40 yuan per tonneThe day's price gains were bolstered by demand from end u...Read More
China's domestic rebar prices moved up on Monday January 7 following gains in the billet and futures markets over the weekend. Domestic Eastern China (Shanghai): 3,730-3,780 yuan ($543-550) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,650-3,680 yuan per tonne, up 30-50 yuan per tonneA notice late last Friday from the Chinese central bank regarding its decision to lower banks' reserve...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,...Read More
Import prices for re-rolling-grade hot-rolled coil into Vietnam were stable this past week amid limited spot trading.Fastmarkets MB's weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $470-480 per tonne cfr for the week ending Monday January 7, unchanged from the preceding week.Industry sources s...Read More
The domestic scrap price in Turkey has continued to fall over the past week, in line with the weakening imported scrap and domestic finished-steel values, sources said on Monday January 7.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,480-1,550 ($278-291) per tonne delivered on January 7, narrowing down from TRY1,490-1,590 per tonne last week.Long...Read More
Physical iron ore prices strengthened further on Monday January 7 in line with gains in futures and steel markets, after China's central bank acted to improve capital liquidity.MB 62% Fe Iron Ore Index: $73.51 per tonne cfr Qingdao, up $0.41 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.34 per tonne cfr Qingdao, up $0.41 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.30 per tonne cfr Q...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 transactions: iron oreIron oreVale, Global Ore, 70,000 tonnes of 65% Fe Iron Ore Carajas, traded at $88.80 per tonne cfr China, bill of lading dated December 14.Vale, Global...Read More
Iron ore prices at Chinese ports largely maintained their strength in December from a year earlier, edging up throughout the month and outperforming transactions in the seaborne market.Read More
Seaborne coking coal spot prices weakened further on Monday January 7 with sellers lowering their offers in attempts to secure buyers.A cargo of a top Australian brand with an end-January laycan was sold to an end user late last Friday at $202 per tonne cfr China, sources told Fastmarkets."The market has yet to bottom out. A sixth round of coke price decrease has been mostly accepted by coke plant...Read More