Domestic and import prices for steel coil products in Turkey were mostly stable this week with demand remaining weak, sources told Fastmarkets on Friday December 7."I believe prices will remain stable [through] December because changes will not improve demand," a source said."Europe is already in holiday mode," he added.Fastmarkets' weekly price assessment for Turkish domestic hot-rolled coil...Read More
Logistics disruptions in South Africa have not been enough to arrest the recent decline in the manganese ore price amid continued risk aversion in China, market sources are warning.A series of force majeure declarations in South Africa late last week following an accident that damaged a railway bridge are expected to delay deliveries of up to 200,000 tonnes of manganese ore from South Africa over...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday December 7:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.20-12.30 per lb from $12.30-12.40Molybdenum US canned molybdic oxide, $/Ib $12.30-12.40 per Ib from $11.90-12.10Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.40-29.60 per kg from $29.50-29.70Ferro-molybdenum US 65...Read More
Domestic Chinese and cif Asia battery-grade lithium prices were stable week on week on Thursday December 6 after consumers continued to hold back on purchases on sufficient stocks and while negotiating next year's contract prices. The Chinese battery-grade lithium carbonate price was unchanged on thin trading activity. Battery-grade lithium hydroxide market stabilized after falling the previo...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday December 7.Base metals prices traded on the Shanghai Futures Exchange exhibited mixed movements during Asian morning trading on Friday, with concerns over trade tensions between China and the United States continuing to dampen sentiment.Check Fastmarkets MB's live futures report here.Of...Read More
Turkish steel producers managed just one deep-sea booking this week, mostly as a result of limited demand for finished steel products in both the domestic and export markets, sources said on Friday December 7.On Wednesday, a steel mill in the Marmara region booked a European cargo - comprising 20,000 tonnes of HMS 1&2 (75:25), 12,500 tonnes of HMS 1 and plate & structural (P&S) scrap, 5,000 t...Read More
The price of shredded ferrous scrap imported into India climbed this week, reflecting a series of deals done at higher prices after last week's slump, sources said on Friday December 7.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $342.78 per tonne cfr Nhava Sheva on December 7, up from $340.75 per tonne on November 30. The index fell by almost $10 per to...Read More
Seaborne iron ore prices were rangebound on Friday December 7 with low-grade material trading more actively than high grades.MB 62% Fe Iron Ore Index: $66.51 per tonne cfr Qingdao, down $0.08 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.78 per tonne cfr Qingdao, down $0.08 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $70.32 per tonne cfr Qingdao, up $0.19 per tonne. MB 58% Fe Premium In...Read More
Comex copper prices rose on Friday morning in the United States in reaction to a softer dollar.The copper price for March settlement on the Comex division of the New York Mercantile Exchange increased by 0.95 cents to $2.7525 per lb. Commodities have endured a volatile week, reflecting trade worries and confusion whether the US and China will reach a long-term agreement."We view the renewed w...Read More
The lull in the seaborne coking coal market was broken on Friday December 7, with two transactions taking place during the day. A premium mid-vol hard coking coal changed hands at $220 per tonne fob Australia while a similar cargo in the same category traded at $206 per tonne cfr China, sources told Fastmarkets. Both cargoes are loading in January.Premium hard coking coal cargoes for Jan...Read More
Base metal stocks on the Shanghai Futures Exchange were mostly lower week on week on Friday December 7, with copper stocks now 60% lower than the annual peak in March. Deliverable copper stocks at SHFE-approved warehouses dropped by 5% week on week, or 7,163 tonnes, to 123,879 tonnes as on Friday December 7. SHFE copper stocks have fallen by 60% from the 2018 high of 307,435 tonnes reached on...Read More
China's hot-rolled coil exporters raised offer prices on December 7 as domestic prices rebounded.DomesticEastern China (Shanghai): 3,740-3,770 yuan ($543-548) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,590-3,620 yuan per tonne, widening downward 20 yuan per tonneDomestic prices were largely stable on Friday.The small dip in Shanghai prices were due to relatively short demand, but...Read More
Cobalt prices continued to fall in the first week of December following the start of year-end destocking and greater competition for sales that first put paid to weeks of stability in mid-November. Fastmarkets assessed the low-grade cobalt price at $30.30-32 per lb, in-warehouse, on Friday December 7, down from $32-32.60 per lb at the end of November. The high-grade cobalt price se...Read More
The following Fastmarkets minor metals prices changed on Friday December 7:Minor metals Antimony MMTA standard grade II, $/tonne: $7,850-8,000 per tonne from $7,850-8,050Bismuth MB China domestic, yuan/tonne: 48,500-51,000 yuan per tonne from 50,000-52,000 yuanCadmium MB free market min 99.99%, cents/lb: 123-140 per lb from 125-140Chromium MB free market alumino-thermic, $/tonne: $10,200-10,5...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves. Read More
Stainless steel prices in Europe are unchanged this week but continuing competition among sellers means further losses are expected to be seen by January. "Competition is still hard and tough and what's threatening us is another drop in prices for Jan. This is almost a certainty," one distributor said. "Trading stainless [steel] is not fun anymore. We're trying to get rid of old stock so we can re...Read More
Austenitic alloy steel scrap prices in the UK market decreased further this week - low demand from stainless steel mills remains the dominant factor in the market. Fastmarkets MB assessed the price of grade-316 scrap solids at ?1,200-1,230 ($1,530-1,619) per tonne delivered, down from ?1,220-1,300 a week earlier, while the price of 18/8 scrap solids fell to ?770-800 per tonne from ?780-830 per...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday December 7:Aluminium ingotDuty paid delivered works...Read More
Import prices for containerized ferrous scrap in Taiwan and bulk ferrous scrap in Vietnam dropped again this week, after suppliers reduced their offers further and demand remained weak amid soft downstream long steel markets. Lower offers from Japan also continued to depress prices in the Asian scrap markets, sources told Fastmarkets. Vietnam Fastmarkets' import price assessment for heavy melting...Read More
Base metals prices on the London Metal Exchange were collectively lower at the close of trading on Thursday December 6, with downward pressure emerging across global equity indices in addition to a sharp downturn in oil futures, which tricked through to metals prices. Prompting the sell-off, escalating concerns over trade tensions between the United States and China continued to deter investors, a...Read More