Turkish billet prices have fallen over the past week because mills in the country have been struggling with weak rebar demand in both the domestic and the export markets, sources said on Thursday December 13.Fastmarkets MB's weekly price assessment for billet imports into Turkey was $435-445 per tonne cfr, widening downward from last week's range of $440-445 per tonne.Billet producers in the CIS r...Read More
Turkish domestic long steel prices have continued to weaken over the past week due to limited demand from the construction sector in particular, sources said on Thursday December 13.Fastmarkets' weekly price assessment for domestic rebar in Turkey was at TRY2,880-2,950 ($538-551) per tonne ex-works, including 18% VAT, down from last week's TRY2,900-3,000 per tonne.The local sales prices for r...Read More
Turkish rebar and wire rod export prices have continued to fall over the past week amid sluggish demand in the country's major export markets.Mills in Turkey lowered their offers to $470-475 per tonne fob on actual weight basis from last week's offers of $480-485 per tonne.However, even those lower offer prices failed to find buyers because of the very weak demand and trade barriers, sources said....Read More
Fastmarkets plans to offer new manganese ore indices on a free-on-truck (fot) basis for both 37% and 44% material, normalized to the port of Tianjin, in an effort to deepen its coverage of the manganese market.The process to introduce the new indices has been initiated in response to demand from the market for stand-alone fot data.Interest in an independent port price has grown due to a great...Read More
The minor metals industry is facing turbulent times and increased volatility in all regions, but some things remain constant and there are always new opportunities if you know where to look, says former-chairman of the MMTA Anthony Lipmann. For Lipmann, owner of niche metals company Lipmann Walton and former chairman of the Minor Metals Trade Association, the constants include an "old fa...Read More
Brazil's Companhia Sider??rgica Nacional (CSN) plans to increase its iron ore production focusing on pellet feed products in the next five years, an investor presentation showed on Wednesday December 12. The company estimates iron ore output will reach 38 million tonnes per year (tpy) in 2023, a third more than the 28.5 million tonne guidance for 2018. CSN expects to produce 31.5 million...Read More
Physical iron ore prices generally strengthened on Thursday December 13 following gains in futures and swaps markets, and lump premiums also increased.MB 62% Fe Iron Ore Index: $67.65 per tonne cfr Qingdao, up $0.92 per tonne. MB 62% Fe Pilbara Blend Fines Index: $66.92 per tonne cfr Qingdao, up $0.92 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $70.88 per tonne cfr Qingdao, down $0.12 per ton...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 transaction: iron oreIron oreBHP, Global Ore, 90,000 tonnes of 62% Fe Mining Area C fines, traded at the December average of two 62% Fe indices, plus a discount of $3.40 per tonne, laycan December 21-30.BHP, Global Ore, 80,000 tonnes of 62.5% Fe Newman Blen...Read More
Seaborne coking coal prices moved higher on Thursday December 13, ahead of industrial action in Queensland, Australia that is expected to disrupt services of some coal rail lines in the state.A 50,000-tonne premium low-vol cargo was heard traded a $230 per tonne fob Australia, and a 20,000-tonne mid-vol cargo changing hands at $225 per tonne fob Australia. The trades resulted in Fastmarkets M...Read More
Iron ore exports from Western Australia's Port Hedland contracted both on the year and on the month for a second month straight in November, a scenario unseen in at least three and a half years.The port shipped 39.39 million tonnes of the steelmaking raw material last month, down by 4.7% from a year earlier, after a 2% decline in October, according to data released by the Pilbara Ports Authority.N...Read More
The latest news and price moves to start the Asian day on Friday December 14.London Metal Exchange base metal prices were broadly higher on Thursday December 13 due to an easing in China-US trade tensions, with the three-month zinc contract gaining ground due to historic low inventories. Read more in our live futures report.Here are how prices looked at the close of trading:The European Commi...Read More
Base metals were mostly higher at the close of trading on Thursday December 13 amid softening tension between the United States and China.Worries that the trade war between the US and China will only escalate in 2019 have softened in recent weeks, boosting base metals' prospects. "More positive steps from China on trade seem to be easing some of the concerns in the market, although traders are pro...Read More
China's hot-rolled coil prices continued to rise on Thursday December 13 on strong gains in the futures market.DomesticEastern China (Shanghai): 3,770-3,800 yuan ($547-552) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, up 20 yuan per tonneA Hangzhou-based source told Fastmarkets MB that a few traders bought HRC from the spot market on seeing the surge in t...Read More
China's domestic rebar prices were mixed on Thursday December 13, with those in east of the countryflat but those in the north up. Domestic Eastern China (Shanghai): 3,780-3,820 yuan ($549-555) per tonne, unchangedNorthern China (Beijing): 3,510-3,540 yuan per tonne, up 20 yuan per tonneStockists in eastern China were forced to keep their prices flat despite a rise in the futures market as they ac...Read More
While tensions between China and the United States have eased amid a temporary 90-day truce, US minor metals importers are still sitting on heavy inventories after they increased imports ahead of a proposed 10% tariff that never appeared.Suppliers moved large amounts of indium and other minor metals into the US due to their concerns about the US-Sino trade war, Fastmarkets MB reported in late Augu...Read More
Fastmarkets highlights six key things we learned from the 2018 Chinese Minor Metals Forum that took place in in Kunming, China, on November 27-28. Bearish fundamentals dominate domestic gallium market Environmental inspections that resulted in cuts to Chinese alumina production in the first half of this year tightened supply of gallium and caused gallium prices to rise, Xiong Tian, strategic sourc...Read More
Import prices for stainless steel in East Asia declined over the past week, resuming a previous downtrend amid sluggish trading activity, soft demand and lower offers from suppliers trying to secure more orders.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,900-1,970 per tonne cif for the week ended Wednesday December 12, down $10-20 per...Read More
China's domestic stainless steel prices dropped slightly over the past week due to muted demand and bearish sentiment among buyers despite an agreement between the country and the United States to a 90-day truce to their trade war.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-14,800 yuan ($2,062-2,149) per tonne including VAT...Read More
Disappointing Chinese economic data has weighed on the three-month base metals prices on the London Metal Exchange this morning, Friday December 14, with all the metals in negative territory and showing average losses of 0.4%. The three-month zinc price led the way with a drop of 1%, copper was off by 0.5% at $6,121 per tonne, while the rest were off by between 0.1% and 0.3%. Volume across the com...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade.Index futures were virtually unchanged following release of November Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus an upwardly revised gain of 1.1% in October. Actual was an increase of 0.2%.The Shanghai Composite Index dropped 40 points to 2,594 after China's Nov...Read More