Brazilian pig iron suppliers continued to insist on higher export offer prices this week on lower material availability during the rainy season and lower availability due to suppliers having closed order books for the year. Fastmarkets increased its weekly price assessment for pig iron exports from the south-eastern Minas Gerais region to $355 per tonne fob on Friday November 23, from $346-34...Read More
The Turkish steel mills continued to book deep-sea scrap for December deliveries at the end of the week, following an earlier downturn in prices, sources said on Friday November 23.A steel mill in the Marmara region booked a US cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) at $329 per tonne, 23,000 tonnes of shredded at $334 per tonne and as much as 5,000 tonnes...Read More
Seaborne iron ore prices continued to drop toward the $70-per-tonne-cfr mark on Friday November 23 amid plunges in the futures and steel markets.MB 62% Fe Iron Ore Index: $70.13 per tonne cfr Qingdao, down $2.05 per tonne.MB 62% Fe Pilbara Blend Fines Index: $69.32 per tonne cfr Qingdao, down $2.05 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $73.07 per tonne cfr Qingdao, down $2.75 per tonne.M...Read More
Buyers and sellers in the seaborne coking coal market stayed on the sidelines on Friday November 23 amid declining prices for steel and coke in China coupled with a lack of clarity on the country's import restrictions. "It is becoming increasingly clear that the customs clearance ban [on coal imports] will be in place until at least January. Chinese buyers are hoping they can at least discharge th...Read More
China's hot-rolled coil market resumed its downward trend on Friday November 23 with participants still having a pessimistic outlook.DomesticEastern China (Shanghai): 3,730-3,750 yuan ($538-541) per tonne, down 30-40 yuan per tonneNorthern China (Tianjin): 3,660-3,680 yuan per tonne, down 20 yuan per tonneUnlike most Fridays when downstream buyers would typically restock in case of having to work...Read More
China's rebar prices declined significantly in both the domestic and export markets on Friday November 23 amid plunging futures.Domestic Eastern China (Shanghai): 3,920-3,950 yuan ($565-570) per tonne, down 70 yuan per tonneNorthern China (Beijing): 3,780-3,800 yuan per tonne, down 40-50 yuan per tonneThe sharp drop in the paper market during the day intensified the bearish sentiment in the spot m...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday November 23:Cobalt MB free market high grade, $/lb: $32.90-33.50 per lb from $33.25-34.00Cobalt MB free market low grade, $/lb: $33.00-33.50 per lb from $33.25-33.95Cobalt MB China domestic, yuan/tonne: 400,000-420,000 yuan per...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The three-month lead price on the London Metal Exchange was slightly firmer this morning, Friday November 23, while the rest of the complex was down by an average of 0.6%. Zinc led the decline with a 1.2% fall, while copper was off by 0.8% at $6,217 per tonne.Volume has been high with 11,796 lots traded as at 7.24am London time - the bulk of which has been in nickel, where 6,902 lots have traded....Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday November 23:Aluminium scrapFloated Frag: ?,?1,020-1,070 per tonne from ?,?1,000-1,050Cast: ?,?940-990 per tonne from ?,?920-970Mixed...Read More
Asia ferrous scrap prices are still falling, tracking weak downstream prices in the rebar and billet markets.The price of Taiwan's containerized import scrap has slipped below $300 per tonne cfr, while trading for heavy melting scrap (HMS) 1&2 (80:20) scrap in Vietnam was extremely illiquid due to cheaper material from Hong Kong and Japan being offered to Vietnamese steel mills.VietnamFastmarkets...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday November 22, with quiet trading continuing to keep prices broadly stable. Nickel's three-month price continued its downtrend, closing below $11,000 per tonne for the first time since December 2017; upward price action continues to be limited by slow Chinese stainless steel production. Additionally, the I...Read More
Alufer Mining's first shipment of bauxite from its Bel Air project in Guinea has arrived in China, the company said on Thursday November 22. The shipment, totaling 203,009 tonnes, was shipped to Qingdao port in China after being sold to Aluminum Corp of China (Chalco) - the country's largest alumina and primary aluminium producer. The Bel Air mine is on on track to produce 5.5 million tonnes per y...Read More
The majority of base metals prices on the London Metal Exchange were rangebound during morning trading on Thursday November 22 while overall volumes remain light. Holding gains made at Wednesday's close, the three-month lead price remained above $2,000 per tonne amid continued outflows in LME stock - which remain at nine-year lows - and strong demand from the lead-acid battery sector. Similarly, z...Read More
Alufer Mining's first shipment of bauxite from its Bel Air project in Guinea has arrived in China, the company said on Thursday November 22. The shipment, totaling 203,009 tonnes, was shipped to Qingdao port in China after being sold to Aluminum Corp of China (Chalco) - the country's largest alumina and primary aluminium producer. The Bel Air mine is on on track to produce 5.5 million tonnes per y...Read More
The price of cobalt sulfate in China continued to fall this week amid slow trades and aggressive buyer bidding. At the same time, a number of producers told Fastmarkets that they have stopped offering material into the market because prices are below levels at which they can make a profit. Fastmarkets assessed the price of cobalt sulfate (Co 20.5% min) in China on an ex-works basis at 74,000-78,00...Read More
Turkish steel producers have resumed their deep-sea scrap purchases after getting lower prices from Europe, sources said on Thursday November 22.The mills in the country were looking for lower prices for scrap because of their fears of renewed product outflows from China and consequently weakening prices for rebar.A steel mill broke the...Read More
Three-month base metals prices on the London Metal Exchange continued to give mixed performances this morning, Thursday November 22. Zinc and lead showed weakness with prices down by 0.4% and 0.3% respectively, while tin prices were up by 0.3%. The rest were little changed, with the three-month copper price up by 0.1% at $6,242 per tonne.Volume has been below average with 4,562 lots traded as at 7...Read More
The price of cobalt sulfate in China continued to fall this week amid slow trades and aggressive buyer bidding. At the same time, a number of producers told Fastmarkets that they have stopped offering material into the market because prices are below levels at which they can make a profit. Fastmarkets assessed the price of cobalt sulfate (Co 20.5% min) in China on an ex-works basis at 74,000-78,00...Read More