Fastmarkets MB published one of its chrome ore and two ferro-chrome prices later than scheduled on October 5.As a result of a technical error, Fastmarkets' Chrome Ore South Africa UG2 concentrates index, ferro-chrome European benchmark indicator and ferro-chrome China import charge chrome index for October 5 were published on the Fastmarkets MB price book later than scheduled.Fastmarkets MB's pric...Read More
Codelco's Chuquicamata division will be running at reduced operating rates until mid-November following a technical fault at the Teniente copper converter last month, the company told Fastmarkets.The Teniente converter that is used in Chuquicamata for copper smelting has been closed for nearly three weeks already, a well-informed source said on Wednesday October 10. It will remain paralyzed until...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Turkish steel producers resumed their deep-sea scrap purchasing activity on Thursday October 11, with prices going down, Fastmarkets heard.A steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded, 7,000 tonnes of HMS 1, 2,000 tonnes of busheling and 6,000 tonnes of cut rebar at an average price of...Read More
Domestic prices for cold-rolled coil (CRC) were largely unchanged over the past week in Northern Europe as buyers delayed signing new deals until the future direction of prices becomes clearer, sources told Fastmarkets MB.Meanwhile, prices in Southern Europe declined due to competitive import offers and slow trading, according to market participants. Northern EuropeFastmarkets MB's weekly assessme...Read More
China's ferrous futures increased in the morning trading session on Thursday October 11.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,026 yuan ($581) per tonne, up 54 yuan per tonneJanuary hot-rolled coil: 3,884yuan per tonne, up 37 yuan per tonneDalian Commodity Exchange January iron ore: 513 yuan per tonne, up 7 yuan per tonneJanuary coking coal: 1,364 yuan...Read More
The latest news and price moves to start the Asian day on Friday October 12.Base metal prices on the London Metal Exchange were mostly higher at the close of trading on Thursday October 11, although the complex remains under broad pressure from a sharp sell-off in global equity markets despite the emergence of fresh buying in the markets for lead and tin. Read more in our...Read More
Turkish long steel export markets continued to struggle with poor demand and increasing production costs over the past week, sources said on Thursday October 11.Starting with the lira crisis in Turkey, the annual inflation rate rose to 24.52% in September, up from 17.9% in August, with energy prices in the country having increased by around 50% so far this year. In addition, the tight supply and s...Read More
The Turkish domestic rebar and wire rod markets have remained soft over the past week because of the low levels of demand, sources said on Thursday October 11.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,600-3,700 ($592-608) per tonne ex-works on Thursday, widening downward from last week's TRY3,650-3,700 per tonne, including 18% VAT.The country's domestic long steel...Read More
Turkish steel producers resumed their deep-sea scrap purchasing activity on Thursday October 11, with prices going down, Fastmarkets heard.A steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded, 7,000 tonnes of HMS 1, 2,000 tonnes of busheling and 6,000 tonnes of cut rebar at an average price of...Read More
Trading activity was limited in the spot market on Thursday October 11, while the benchmark 62% Fe iron index rose slightly.Metal Bulletin 62% Fe Iron Ore Index: $71.30 per tonne cfr Qingdao, up by $0.16 per tonne.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $70.33 per tonne cfr Qingdao, up by $0.16 per tonne.Metal Bulletin 62% Fe Iron Ore Index, Low Alumina: $76.30 per tonne cfr Qingdao, down...Read More
Market participants have hailed Singapore Exchange's (SGX) decision to launch a high-grade iron ore derivative, basis Fastmarkets' daily 65% Fe iron ore price, saying it will serve the burgeoning need for better price risk management tools.The contract is targeted for launch in December, subject to regulatory approval, the exchange announced on Thursday October 11."The SGX's introduction of 65% fu...Read More
Turkish steel billet prices have gone down over the past week in line with the poor demand in the country's domestic and export markets, sources said on Thursday October 11.The suppliers in the Commonwealth of Independent States have lowered their offers to as low as $460 per tonne fob due to increases in supply. This would be equivalent to a price around $475 per tonne cfr Turkey."So many traders...Read More
Imported steel billet and rebar prices in Egypt decreased in the week to Thursday October 11, with demand in the country remaining weak.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $490-495 per tonne cfr on Thursday, falling from $495-500 per tonne cfr.CIS-origin...Read More
Import prices for steel billet in Southeast Asia edged down on Thursday October 11 from the previous day, pressured by the region's sustained weakness in buying interest.Fastmarkets' daily assessment of the import price for billet in Southeast Asia was $510-515 per tonne cfr Manila on Thursday, narrowing down by $5 per tonne from $510-520 per tonne cfr on Wednesday.The assessment range had fallen...Read More
China's ferrous futures increased in the morning trading session on Thursday October 11.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,026 yuan ($581) per tonne, up 54 yuan per tonneJanuary hot-rolled coil: 3,884yuan per tonne, up 37 yuan per tonneDalian Commodity Exchange January iron ore: 513 yuan per tonne, up 7 yuan per tonneJanuary coking coal: 1,364 yuan...Read More
Import prices for stainless steel in East Asia remained relatively steady over the past week amid sluggish trading as a result of China's National Day holiday, while participants observed Chinese offers edging up and Taiwanese offers on a downtrend.Fastmarkets MB's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,100-2,160 per tonne cif East Asian ports f...Read More
Protectionism in the global steel market will likely become stronger, with Canada and Egypt likely to start safeguard cases, participants at the Eurometal Steel Net Forum & International Steel Trade Day in Hamburg, Germany, heard on Tuesday October 9."We see many investigations taking place, one copying another, a domino effect on many levels, in many cases. We still would not exclude more escalat...Read More
Movements in the prices of base metals on the London Metal Exchange were mixed at the close of trading on Thursday October 11, under broad pressure from a sharp sell-off in global equity markets despite the emergence of fresh buying in the markets for lead and tin.The three-month lead price rose by 4.4% over the afternoon to recover losses made earlier in the week, reaching an intraday high of $2,...Read More
Tungsten miner Wolf Minerals' UK subsidiary has fallen into administration after failing to secure funding, the company said on Thursday October 11. The company said it had been unable to satisfactorily conclude its discussions with its key financial stakeholders. It subsequently put its Drakelands mine in Hemerdon, Devon, into administration because it is not in a position to meet its short-term...Read More