Turkey has returned to the United States' ferrous scrap market, paying higher prices and leading many to believe that the US ferrous export market is showing signs of recovery.A sale to Turkey by an East Coast exporter was reported on Wednesday February 12 involving a 40,000-tonne cargo at a price that was up by $4-8 per tonne from the two prior sales on February 7, in which an 80:2...Read More

Prices for 300-grade stainless steel moved higher week on week in the United States, driven more by tightness in supply than by the intrinsic values of nickel, chrome and iron, Fastmarkets understands."Stagnant supply remains the driving force behind current stainless steel scrap price stability," one scrap dealer said. "Clearly, supply concerns exist and sellers finally have some leverage," he co...Read More

Turkish deep-sea scrap import prices have increased sharply with improving demand from the country's steel mills, sources said on Wednesday February 12.A steel mill in the Izmir region has booked a US cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $268 per tonne, 12,000 tonnes of shredded at $273 per tonne and 4,000 tonnes of bonus at $278 per tonne cfr. It was not clear whether this deal w...Read More

Seaborne coking coal prices were steady on Wednesday February 12, with a premium mid-vol cargo fetching $150 per tonne fob Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, up $0.44 per tonnePremium hard coking coal, cfr Jingtang: $160.73 per tonne, unchangedHard coking coal, fob DBCT: $127.01 per tonne, unchangedHard coking...Read More

Seaborne iron ore prices remained firm on Wednesday February 12 following an announcement by Vale that it expects lower production for the quarter ending on March 31.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.68 per tonne, up $0.75 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.01 per tonne, up $0.75 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.93 per tonne, up $0.7...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday February 11 that are worth another look.A block on the World Trade Organization's dispute settlement process has paralyzed progress in steel cases, including those pertaining to Section 232, which could result in a disparity between steel prices in the United States and those in the rest of the world, according to two trade expe...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening comments.Bed Bath and Beyond dropped $3.91 to $10.94 after reporting lower than consensus fourth quarter revenues and earnings. The company also lowered guidance. Visa added $1.86 to $205.80 after Oppenheimer raised its target price from $210 to $220.MolsonCoors gained $3.25 to $61.30 after rep...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 12.Please click...Read More

China's domestic hot-rolled coil prices regained some losses on Wednesday February 12 after the country reported its lowest number of new coronavirus cases since late January, which generated some optimism about the outbreak being contained.DomesticEastern China (Shanghai): 3,510-3,520 yuan ($503-505) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,270 yuan per tonne,...Read More

China's domestic rebar prices held steady on Wednesday February 12 amid weak demand, though optimism emerged following a call by the country's Ministry of Industry & Information Technology for enterprises to resume production gradually. Eastern China (Shanghai): 3,380-3,420 yuan ($485-490) per tonne, unchangedNorthern China (Beijing): 3,440-3,460 yuan per tonne, unchangedA trader in eastern China...Read More

While equity markets remain buoyant on optimism that the spread of the novel coronavirus (2019-nCoV) may be slowing, the base metals seemed more circumspect on Wednesday February 12 as they wait to see what the fallout from the virus will be in terms of how much disruption the manufacturing sector is suffering.LME base metals prices were up by an average of 0.2%; SHFE base metals prices were mixed...Read More

Chinese battery materials producer GEM will prioritize delivering cargoes to overseas buyers in February amid the large-scale lockdown in Hubei province following the outbreak of the novel coronavirus (2019-nCoV), a company source told Fastmarkets. GEM's Jingmen plant is located in Jingmen city, Hubei province, which has been heavily affected by the coronavirus outbreak. The plant is unable to res...Read More

The silicon metal market in the United States moved higher for the first time in two years, with suppliers raising prices largely due to reduced global supply of cheap material from China as a result of the Wuhan novel coronavirus.Independent of that, other low-priced suppliers have reportedly revised their pricing policies this year, deeming their earlier prices unsustainably low.Fastmarkets asse...Read More

BNP Paribas will take on the over-the-counter (OTC) base and precious metal clients of fellow French bank Soci?(C)t?(C) G?(C)n?(C)rale (SocGen), which is reducing its commodities exposure, both companies confirmed to Fastmarkets on Tuesday February 11.SocGen announced last April that it would be closing its OTC and proprietary commodities trading business, including metals, as part of a global cos...Read More

An overview of the noble alloys markets and the reasons for any price moves.Read More

Hanwa expects to incur an annual loss of more than ?6.5 billion ($59 million) on its 20% stake in Samancor amid challenging ferro-chrome market conditions, the Japanese trading house said on Wednesday February 12.Difficulties facing the South African ferro-chrome producer have led Hanwa to review Samancor's business plans and its interests in the company, the trading house said. Hanwa attributed...Read More

Key data from Fastmarkets' pricing session in Europe on Wednesday February 12.Key drivers The price range for ferro-titanium has been stable over the past week, with suppliers holding their offer prices against steady but low-key demand from consumers. No deals were reported, apart from in the scrap market where there were reports of almost 40 tonnes bought in the UK at the top end of the latest a...Read More

Stainless steel prices in the United States were mostly flat to lower month on month in February, despite reports that surcharges rose modestly and base prices were unchanged.Orders for stainless steel products have surged recently after surcharges came down in January and service centers sought to build up their inventories, which had fallen to low levels in December, according to a Midwestern di...Read More

Transport restrictions in China affecting raw material supply amid the coronavirus outbreak have led to a more active molybdenum spot market in China and as a result have lifted prices in South Korea and Europe. Low inventories in China have forced buyers there to import more material and subsequently drive the alloy and oxide prices to their highest levels since October 2019, according to Fastmar...Read More

Fastmarkets is extending the consultation period for its proposal to launch four Japanese export ferrous scrap prices by one week, and will launch one Vietnam H2 price of Japanese origin later this week.At the start of the pricing consultation for four Japan export scrap price assessments and one Vietnam import scrap price on January 7, the initial date slated for the launch of four Japan exp...Read More