Turkish scrap import prices went down as expected on Wednesday February 20, following news of a fresh deal for a deep-sea cargo.A steel mill in the Marmara region booked a UK cargo of 10,000 tonnes of HMS 1&2 (80:20) at $316 per tonne cfr.The news of this cargo sent the daily scrap indices down sharply on Wednesday.The daily index for Northern Europe-origin HMS 1&2 (80:20) was...Read More

A blockchain pilot project designed to demonstrate the presence of artisanal and small-scale mining (ASM) sites in the tungsten supply chain is scheduled to be completed in May 2019.The SustainBlock trial started in May 2018 and is focused on a tungsten supply chain originating from Rwanda.Funded by the European Partnership for Responsible Minerals (EPRM), a multi-stakeholder grouping set up to cr...Read More

The Comex copper market continued to move in a positive direction on Wednesday February 20, with global trade talks between the United States and China showing progress.The copper price for March settlement on the Comex division of the New York Mercantile Exchange increased 2.25 cents to $2.8970 per lb. Additionally, the red metal's price remains elevated against a backdrop of falling London....Read More

The three-month base metals prices traded on the London Metal Exchange were stronger across the board with gains averaging 0.3% on the morning of Wednesday February 20, compared with Tuesday's closing levels.Copper has generally led the move higher in recent days with prices reaching a high of $6,350.50 per tonne this morning, which has taken it well into the resistance area on the chart that lies...Read More

Trader-miner Glencore expects healthy future demand for cobalt and a bottoming out of prices after a difficult second half of 2018, its senior executives said on Wednesday February 20 during its full-year results announcement. Glencore's adjusted earnings before interest and tax (Ebit) came to $2.5 billion in its marketing business for the full-year 2018, down 17% year on year. The company attribu...Read More

Domestic prices for hot-rolled coil (HRC) in Southern Europe have increased over the past week, supported by higher import offers, sources told Fastmarkets on Wednesday February 20.In Northern Europe, domestic prices picked up slightly, but buyers largely resisted the rises. This region's steel sector has traditionally been less exposed to the influence of imports and more focused on its domestic...Read More

The Wednesday Market Minute Global stocks edge higher on increasing trade deal optimism after President Donald Trump says March 1 deadline not a "magical" date in U.S.-China talks.Gains capped ahead of Fed minutes as investors seek confirmation of central bank's neutral stance on rates amid slowing economic data at home and abroad.Global oil prices little-changed ahead of API data later tod...Read More

Flat steel import prices in the United Arab Emirates and Saudi Arabia increased over the past week, but buying activity remained limited.Deals were scarce because market participants were waiting to see if the price increases will be permanent, sources told Fastmarkets on Tuesday February 12.The buyers wanted to see if the price increases will be permanent, because raw material prices ha...Read More

Export prices for Chinese hot-rolled coil edged up further on Wednesday February 20, with exporters insisting on high offers amid expectations that the domestic market - though it weakened during the day - would pick up due to rising costs upstream.DomesticEastern China (Shanghai): 3,720-3,750 yuan ($550-554) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,670-3,700 yuan per tonne, do...Read More

Wire rod prices in the United States have decreased due to slower market activity while import pricing remains firm due to a lack of fresh offers, market sources said.Fastmarkets' assessment for industrial quality low-carbon rod was $38.25-40 per hundredweight ($765-800 per short ton) fob mill on Tuesday February 19, down from $39.25-41.25 per cwt previously. Prior to the latest drop, wire rod pri...Read More

Slight price increases have begun to emerge for domestic hollow steel sections in Europe as a result of increases in the upstream steel coil market. ArcelorMittal, the world's largest steelmaker, announced on Tuesday February 19 that its prices for hot-rolled coil, cold-rolled coil and hot-dipped galvanized coil would increase by ?,?30 per tonne with immediate effect. The producer's higher HRC off...Read More

Steel beam prices in the domestic Northern European market were stable-to-soft this week, with poor demand continuing to outweigh rising raw material costs, Fastmarkets heard on Wednesday February 20.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?600-630 ($679-713) per tonne delivered on February 20, widening downward by ?,?10 p...Read More

Turkish scrap import prices went down as expected on Wednesday February 20, following news of a fresh deal for a deep-sea cargo.A steel mill in the Marmara region booked a UK cargo of 10,000 tonnes of HMS 1&2 (80:20) at $316 per tonne cfr.The news of this cargo sent the daily scrap indices down sharply on Wednesday.The daily index for Northern Europe-origin HMS 1&2 (80:20) was...Read More

Seaborne iron ore prices fell across the board on Wednesday February 20 amid a quiet trading day, while Fortescue Metals Group (FMG) announced its product discount levels for March.MB 62% Fe Iron Ore Index: $88 per tonne cfr Qingdao, down $1.21 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.40 per tonne cfr Qingdao, down $1.21 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.10 per tonne...Read More

China's steel and iron ore futures fell during morning trading on Wednesday February 20, while the coking coal and coke contracts ended the session a tad higher than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,592 yuan ($531) per tonne, down 38 yuan per tonneMay hot-rolled coil: 3,591 yuan per tonne, down 27 yuan per tonneDalian Commodity Ex...Read More

Iranian mills have managed to achieve higher export sales prices in Asia and the Middle East North Africa (Mena) region due to the uptrend in global billet prices and reduced availability of material from the CIS.Fastmarkets' weekly price assessment for Iranian export billet was $390-410 per tonne fob on Wednesday February 20, compared with $400-410 per tonne fob a week earlier.A la...Read More

China's domestic rebar prices dropped on Wednesday April 20 amid sustained weakness in demand. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($542-547) per tonne, down 30-50 yuan per tonneNorthern China (Beijing): 3,680-3,700 yuan per tonne, down 70-80 yuan per tonneLow temperatures in northern China and rain in the eastern region dampened post-holiday demand, market sources said.This has le...Read More

The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe and China. To view the latest price assessments, follow the links below: Europe - Ferro-vanadium, delivered duty-paid in Europe, $ per kg V - Vanadium pentoxide, in-warehouse Rotterdam, $ per lb V2O5 China - Ferro-vanadium, 78% min, fob China, $ per kg V - Vanadium pentoxide, 98% min, fob C...Read More

Slight price increases have begun to emerge for domestic hollow steel sections in Europe as a result of increases in the upstream steel coil market. ArcelorMittal, the world's largest steelmaker, announced on Tuesday February 19 that its prices for hot-rolled coil, cold-rolled coil and hot-dipped galvanized coil would increase by ?,?30 per tonne with immediate effect. The producer's higher HRC off...Read More

BHP does not see a case for any major new investment for the iron ore sector in its long-term view of the market despite recent supply disruptions in Brazil."[...] we have been concentrating for some time on maximizing the capacity of our existing investment, and we continue to do that and [...] have no plans we would change as a consequence of what is happening and the current high price, because...Read More