Turkish domestic scrap prices have continued to slip lower in line with the falling finished steel prices over the past week, sources said on Monday December 17.Fastmarkets MB's weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,490-1,710 ($278-319) per tonne delivered, widening down from TRY1,590-1,710 per tonne on December 10.Several steel mills in the country cu...Read More
The Comex copper price fell in morning trading on Monday December 17 amid quiet trading conditions and uncertainty surrounding the future of American monetary policy. The copper price for March settlement on the Comex division of the New York Mercantile Exchange fell 2.70 cents to $2.7355 per lb. US market participants are awaiting the Federal Reserve's Wednesday decision on another rate hike. Glo...Read More
The three-month base metals prices on the London Metal Exchange were for the most part little changed this morning, Monday December 17. The exception was zinc, the price of which was up by 1.3% at $2,565 per tonne. The three-month copper price was down by $1.50 per tonne at $6,139 per tonne.Volume across the complex has been above average with 6,271 lots traded as at 7.53am London time.The preciou...Read More
United States-based specialty chemicals company Albemarle Corp has signed a deal that creates a joint venture with Mineral Resources Limited (MRL) to develop a battery-grade lithium hydroxide plant in Western Australia. The $1.15 billion agreement gives Albemarle a 50% stake in MRL's Wodgina hard rock lithium mine and will see the companies eventually develop an integrated lithium hydroxide operat...Read More
The export market for flat steel products from the Commonwealth of Independent States (CIS) remains weak because of low demand ahead of the end of the year, with buyers fearing further price falls early in 2019. Fastmarkets MB's weekly price assessment for CIS-origin HRC exports was $450-470 per tonne fob Black Sea on Monday December 17, down from $460-475 per tonne fob a week ago."Suppliers [of H...Read More
Fastmarkets MB organized a North Africa Steel Summit on Thursday December 13 in Dubai, which immediately followed the Middle East Iron and Steel Conference.What follows are the main topics discussed at the summit by two key Egyptian speakers.1) Egypt has over 13 million tonnes per year of steel production capacity, which according to Nourhan Ashry, vice president at Ashry Steel - Egyptian tube and...Read More
Major Vietnamese integrated steel producer Formosa Ha Tinh Steel Corp is undercutting international competitors with its new hot-rolled coil (HRC), billet and wire rod offers for February delivery and shipment.The company's hot-rolled products are being offered at very competitive levels to the domestic and regional markets, at either in line with prices for cargoes from international origins, or...Read More
Commonwealth of Independent States export rebar and wire rod prices dropped $10-20 per tonne in the week ended Monday December 17 due to a lack of demand and increased pressure from Turkish suppliers.The volume of the global rebar market has shrunk this year due to the snowball effect from tariffs imposed by the United States. This forced Turkish suppliers to increase their presence in the Middle...Read More
Fastmarkets MB organized a North Africa Steel Summit on Thursday December 13 in Dubai, which immediately followed the Middle East Iron and Steel Conference.What follows are the main topics discussed at the summit by two key Egyptian speakers.1) Egypt has over 13 million tonnes per year of steel production capacity, which according to Nourhan Ashry, vice president at Ashry Steel - Egyptian tube and...Read More
Major Vietnamese integrated steel producer Formosa Ha Tinh Steel Corp is undercutting international competitors with its new hot-rolled coil (HRC), billet and wire rod offers for February delivery and shipment.The company's hot-rolled products are being offered at very competitive levels to the domestic and regional markets, at either in line with prices for cargoes from international origins, or...Read More
Turkish domestic scrap prices have continued to slip lower in line with the falling finished steel prices over the past week, sources said on Monday December 17.Fastmarkets MB's weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,490-1,710 ($278-319) per tonne delivered, widening down from TRY1,590-1,710 per tonne on December 10.Several steel mills in the country cu...Read More
United States-based specialty chemicals company Albemarle Corp has signed a deal that creates a joint venture with Mineral Resources Limited (MRL) to develop a battery-grade lithium hydroxide plant in Western Australia. The $1.15 billion agreement gives Albemarle a 50% stake in MRL's Wodgina hard rock lithium mine and will see the companies eventually develop an integrated lithium hydroxide operat...Read More
Physical iron ore prices were mixed on Monday December 17 after a jump above $70 per tonne cfr China last Friday.MB 62% Fe Iron Ore Index: $70.74 per tonne cfr Qingdao, down $0.27 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.27 per tonne cfr Qingdao, down $0.27 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $72.04 per tonne cfr Qingdao, down $0.13 per tonne.MB 58% Fe Premium Index: $63.67 p...Read More
Prices in all producing and buying regions have been falling, following a downtrend in flat steel markets. There is no expectation of upside in the following weeks, according to sources.AsiaImport prices of the semi-finished product in Asia are likely to remain soft for the remainder of this month amid the sustained weakness in the region's finished flat steel markets. No upside is expected in the...Read More
The Commonwealth of Independent States export slab price slumped on Monday December 17 after fresh sales were heard done at lower levels and a pessimistic mood in the finished flat steel segment drove down customers' expectations down.Fastmarkets' weekly price assessment for CIS export slab was at $415-420 per tonne fob Black Sea on December 17, down from $430-435 per tonne fob Black Sea last...Read More
Fastmarkets MB organized a North Africa Steel Summit on Thursday December 13 in Dubai, which immediately followed the Middle East Iron and Steel Conference.What follows are the main topics discussed at the summit by two key Egyptian speakers.1) Egypt has over 13 million tonnes per year of steel production capacity, which according to Nourhan Ashry, vice president at Ashry Steel - Egyptian tube and...Read More
Fastmarkets MB organized a North Africa Steel Summit on Thursday December 13 in Dubai, which immediately followed the Middle East Iron and Steel Conference.What follows are the main topics discussed at the summit by two key Egyptian speakers.1) Egypt has over 13 million tonnes per year of steel production capacity, which according to Nourhan Ashry, vice president at Ashry Steel - Egyptian tube and...Read More
Prices in all producing and buying regions have been falling, following a downtrend in flat steel markets. There is no expectation of upside in the following weeks, according to sources.AsiaImport prices of the semi-finished product in Asia are likely to remain soft for the remainder of this month amid the sustained weakness in the region's finished flat steel markets. No upside is expected in the...Read More
Commonwealth of Independent States export rebar and wire rod prices dropped $10-20 per tonne in the week ended Monday December 17 due to a lack of demand and increased pressure from Turkish suppliers.The volume of the global rebar market has shrunk this year due to the snowball effect from tariffs imposed by the United States. This forced Turkish suppliers to increase their presence in the Middle...Read More
The Commonwealth of Independent States export slab price slumped on Monday December 17 after fresh sales were heard done at lower levels and a pessimistic mood in the finished flat steel segment drove down customers' expectations down.Fastmarkets' weekly price assessment for CIS export slab was at $415-420 per tonne fob Black Sea on December 17, down from $430-435 per tonne fob Black Sea last...Read More