Prices for hollow steel sections in Northern Europe widened downward this week due to falling feedstock costs, Fastmarkets heard on Wednesday November 7.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?10 per tonne on the low end to ?,?640-660 ($730-753) per tonne delivered on November 7.This compared with ?,?650-660 pe...Read More
The following Fastmarkets minor metals prices changed on Wednesday November 7:Antimony MB free market regulus, $/tonne: $8,150-8,350 per tonne from $8,150-8,400Antimony MMTA standard grade II, $/tonne: $8,100-8,300 per tonne from $8,100-8,350Antimony MB Chinese free market MMTA standard grade II, yuan/tonne:...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob China Europe- APT, cif Rotterdam - Ferro-tungsten, in-warehouse Rotterd...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday November 7:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $11.80-12.00 per lb from $12.00-12.15Ferro-molybdenum basis...Read More
Fastmarkets has today discontinued the weekly price assessment for molybdenum concentrate, 45% Mo, in China's domestic market. Following a one-month consultation period, Fastmarkets decided to discontinue on Wednesday November 7 the assessment of its molybdenum concentrate, 45% Mo, on an in-warehouse China basis, specification below. Description: Molybdenum concentrate 45% Mo in-warehouse China Pr...Read More
China's largest steel mill, Hebei Steel, has raised its monthly purchase price for silico-manganese, reversing the cut in last month's tender.The mill has offered to buy silico-manganese at 9,100 yuan ($1,315.78) per tonne for November delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China.The latest tender is about 100 yuan higher...Read More
The stainless scrap market is limping along in the United States, with little to no improvement in sight while participants remain cautious heading into year-end."The stainless scrap market continues to be sleepy and not waking up anytime soon," one major US processor said. "Most dealers and processors are just trying to get to the end of the year with the least amount of damage [to their earnings...Read More
Ferrous scrap export prices for shipments from the United States to Turkey have held above $340 per tonne cfr, but East Coast exporters were seen holding the line on dock buying prices despite gains in the export and domestic markets.Two cargoes were sold from the US to Turkey over the past seven days.An East Coast cargo reported on Thursday November 1 concluded up $7 per tonne compared with the p...Read More
Turkish steel producers continued their deep-sea scrap purchases on Wednesday November 7, with prices remaining largely stable, according to market sources.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) at $330 per tonne, 3,000 tonnes of shredded at $340 per tonne and 7,000 tonnes of bonus at $345 per tonne cfr.Another steel producer in t...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 oreVale, tender, 176,924 tonnes of 62.29% Fe Standard Sinter Feed Guaiba, traded at the December average of the MB 62%...Read More
Iron ore prices weakened on Wednesday November 7 amid steel market falls, while supply issues in Australia supported premiums for index-linked cargoes.MB 62% Fe Iron Ore Index: $75.27 per tonne cfr Qingdao, down $0.47 per tonne.MB 62% Fe Pilbara Blend Fines Index: $74.30 per tonne cfr Qingdao, down $0.47 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.38 per tonne cfr Qingdao, down $0.92 per t...Read More
Trading activity in the seaborne coking coal market was muted on Wednesday November 7, with participants awaiting a firmer direction to emerge."We have not heard of any aggressive bids in recent days and it seems $220-222 per tonne cfr China for premium low-vol materials is the ceiling," a trader source said.The source added that the presence of opposing factors - robust domestic coking coal price...Read More
Japanese ferrous scrap export prices are leading the downtrend in regional scrap values so far this week.A major regional buyer was bidding for Japanese H2 scrap exports at ?34,000 ($300) per tonne as of Wednesday November 7, while sellers were offering similar materials at ?35,000 per tonne."Japanese H2 prices are coming off and should reach a bottom soon," a Japanese trader told Fastmarkets MB...Read More
Base metals on the London Metal Exchange pushed higher during morning trading on Wednesday November 7, supported by a strong bounce in global equity markets, while the US dollar index lost ground after gains by the Democrats in the US midterm elections. Overnight, US midterm election results indicated a majority win for the Democrats in the House of Representatives, with US president Trump's admin...Read More
China's domestic rebar market maintained its downward trend on Wednesday November 7 with sellers stepping up their efforts to destock.Domestic Eastern China (Shanghai): 4,500-4,550 yuan ($650-657) per tonne, down 90 yuan per tonneNorthern China (Beijing): 4,380-4,420 yuan per tonne, down 40 yuan per tonneSellers were actively destocking during the day on the weak futures market and their bearish o...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday November 7*Copper -$156.22 (-1,085.48 yuan) Aluminium -$426.97 (-2,966.72 yuan) Zinc $41.58 (288.94 yuan) Nickel $358.95 (2,494.11 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
China's hot-rolled coil prices fell further on Tuesday November 6 after sentiment was dampened by Tangshan's smaller-than-expected production cuts. DomesticEastern China (Shanghai): 4,000-4,010 yuan ($578-579) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,990-4,000 yuan per tonne, down 10 yuan per tonneShanghai's HRC prices have fallen for a 12th day, with sentiment in the market...Read More
News that Glencore's Katanga Mining will suspend exports and sales of cobalt from Kamoto in the Democratic Republic of Congo (DRC) has lent some optimism to 2019 contract negotiations taking place this week at an industry event in Xiamen, China. Sales and exports of material from the DRC mine were halted after it was found that uranium levels in hydroxide produced at Katanga exceeded the limit for...Read More
The latest metal markets news and price moves to start the North American day on Wednesday November 7.Base metals on the London Metal Exchange pushed higher during morning trading, supported by a strong bounce in global equity markets, while the US dollar index lost ground after gains by the Democrats in the US midterm...Read More
Long-term contracts for cobalt hydroxide supply in 2019 have been heavily weighted toward lower payables year on year, with discussions centered around increasing availability of intermediates. But the extent of the likely hydroxide surplus' impact on next year's metal market is less clear. Since last year's mating season, Glencore has announced the restart of production at Katanga in the Dem...Read More