Fastmarkets' alumina index fob Australia moved to its highest level since early December due to unrelenting market tightness. The daily fob Australia alumina index rose to $412.94 per tonne on Friday March 22, up from $403.58 per tonne the previous day and 6.7% higher month on month from $386.90 per tonne on February 22. Key drivers  Tightness in the market continues to...Read More

The Industrial and Commercial Bank of China (ICBC) has revised its base metals price forecasts lower across the board for 2019 in its latest base metals outlook report, specifying global recession fears and a rising macro-financial tide in its adjustments. While the bank highlighted that a bounce in fundamental price indicators could improve price sentiment, ICBC has revised down its three-month L...Read More

A conflict between Norwegian aluminium group Norsk Hydro and the Brazilian federal prosecutors' office, MPF, could put the company's bauxite production in the Northern state of Par?? at risk.MPF is claiming Minera????o Paragominas' operational license for an ore pipeline and a power transmission line expired in 2014. This would mean the bauxite producer is illegally operating the assets, according...Read More

Prices for cold-rolled coil and coated steel have held steady week on week in the United States, according to Fastmarkets AMM's most recent assessment.CRC was flat week on week at $41.50 per hundredweight ($830 per ton) on Thursday March 22 from a week earlier. Meanwhile, the assessment for domestic hot-dipped galvanized steel base prices remained unchanged at $42 cwt ($840 per ton), and the all-i...Read More

Brazilian apparent steel consumption recovered in February 2019, but figures were still down year-on-year in the first two months of the year, national steel association Instituto A??o Brasil said on Thursday March 21.Apparent usage reached 1.63 million tonnes last month, 3.70% higher than the 1.57 million tonnes of February 2018. In this year's January-February period, volumes totaled 3.17 millio...Read More

Domestic prices for rebar in Poland have been largely stable over the past week, supported by strong demand in the construction industry, sources told Fastmarkets on Friday March 22.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,220-2,320 zloty ($590-617) per tonne ex-works on March 22, compared with 2,200-2,320 zloty per tonne ex-works last week.The assessment r...Read More

Indian mills were keeping domestic HRC prices high in the week ended Friday March 22, even though cheaper imported coil products have beaten down spot prices for the commodity, Fastmarkets has heard.Indian domestic HRC prices were assessed by Fastmarkets at 41,500-42,000 rupees ($604-612) per tonne ex-mill on Friday, unchanged since last week.Indian importers and traders, meanwhile, were offering...Read More

The market for CIS export steel billet finally saw a thaw in buying activity in the week ended Friday March 22 despite the fact that not all customers were ready to accept the prices being offered by mills.Offers from CIS producers for April- and May-rolling material varied within the range of $460-465 per tonne fob Black Sea, while most bids were still lower than $450 per tonne fob Black Sea.The...Read More

Prices for coated steel products in Turkey fell again in the seven days to Friday March 22, with demand weak in both the domestic and export markets.Sources told Fastmarkets that demand is unlikely to improve in March because of market uncertainty ahead of the mayoral elections being held across the country on the last day of the month.The export market was also poor because of weak demand in Euro...Read More

Some steel coil prices in Turkey decreased again in the week ended Friday March 22, with buying activity remaining subdued.The market was unlikely to improve in March because of the uncertainty in the build-up to Turkey's mayoral elections to be held across the country on the last day of the month, sources told Fastmarkets. In addition, most market participants expected prices to fall further beca...Read More

Global scrap prices have gone up slightly except in Vietnam during the working week from Monday March 18 to Friday March 22, with demand being seen in Turkey only later in the week. Turkish steel producers returned to the market at the end of the week US ferrous scrap export prices up Vietnam ferrous scrap prices fall on weak demand Taiwanese prices rise on higher offers India on holidayTurkey imp...Read More

Austenitic alloy steel scrap prices edged higher in Europe this week in reaction to more stable nickel costs. The three-month official bid/offer spread for nickel on the London Metal Exchange was $13,010/13,020 per tonne on Friday March 22, compared with $12,945/12,960 per tonne on March 15.This...Read More

Prices for light iron steel scrap in the United Kingdom have been rolled over this week amid steady trading while regular inter-merchant business and firm demand from major shredders support the market, sources told Fastmarkets on Friday March 22.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-110 ($118-145) per tonne on March 22. The current...Read More

Turkish steel producers continued to book scrap at the end of this week, with material from various regions being purchased at fairly stable prices, sources said on Friday March 22.A steel producer in the Iskenderun region booked a US cargo, comprising 19,000-20,000 tonnes of HMS 1&2 (80:20) at $325 per tonne, 7,000-8,000 tonnes of shredded at $330 per tonne and 3,000 tonnes of bonus at $335 per t...Read More

The price of shredded ferrous scrap was stable this week with many market participants on holiday to celebrate the Holi festival in the country, sources said on Friday March 22.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $335.75 per tonne cfr on March 22, largely unchanged from $335.29 per tonne cfr on March 15. This week deals were heard for shred...Read More

Seaborne iron ore prices rose on Friday March 22 after cyclone updates from Australia led to supply concerns and pushed up swaps prices.MB 62% Fe Iron Ore Index: $85.96 per tonne cfr Qingdao, up $1.47 per tonne. MB 62% Fe Pilbara Blend Fines Index: $85.08 per tonne cfr Qingdao, up $1.47 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.35 per tonne cfr Qingdao, up $1.71 per tonne. MB 58% Fe Pre...Read More

Import prices for ferrous scrap in Asia moved in different directions this week amid mixed market fundamentals, participants told Fastmarkets on Friday March 22.VietnamThe uptrend in Vietnam's scrap import prices came to a halt this week, amid a slowdown in procurement activity and falling bid levels, market sources said.Fastmarkets' weekly import price assessment for HMS 1&2 (80:20) sol...Read More

Southwest China's Kunming Intermediate People's Court will fine the Fanya Metal Exchange 1 billion yuan ($149.39 million) for violating national law and illegally raising funds from the public, according to local media reports on Friday March 22, with minor metals markets now wondering how funds will be raised. Shan Jiuliang, board chairman and president of Fanya, was sentenced to 18 years' impris...Read More

Comex copper prices failed to hold onto previous gains on Friday March 22, with a stronger dollar and concerns over global economic growth weighing on the base metals complex.The copper price for May settlement on the Comex division of the New York Mercantile Exchange tumbled 3.50 cents to $2.8710 per lb. The contract has been unable to generate a consistent direction over the last two weeks, with...Read More

Base metal stocks on Shanghai Futures Exchange-approved warehouses showed divergent trends during the week ending Friday March 22, with zinc stocks falling by 6.5% but those of aluminium, tin and lead rising. Deliverable zinc stocks at SHFE-approved warehouses declined by 8,064 tonnes, or 6.5%, week on week to 115,974 tonnes. This week Qisheng saw the most stock leaving from sheds - 9,086 ton...Read More