Key data from the pricing sessions in London and Shanghai on Friday February 22.ChinaKey drivers- The Chinese silicon fob export price held steady while exporters wait for Japan's quarterly tenders in the days to come.- A lot of off-grade silicon has flowed into the spot market, but considering the quick appreciation of the yuan, most traders are keeping their offers unchanged for the time being t...Read More
The No. 2 copper scrap discount for China has widened notably in February mainly on increased scrap availability after a rebound in the copper price, while the industry is still lobbying with the government to avoid a total scrap ban that could happen as soon as 2021.Fastmarkets assessed the discount for birch and cliff scrap of 94-96% copper content on a cif China basis at 28-34 cents per lb this...Read More
The Turkish steel mills stayed out of the deep-sea scrap market on Monday February 25 and made no bookings, preferring to remain in wait-and-see mode after the recent sharp decrease in the prices, Fastmarkets heard.Following the news of a Baltic Sea cargo sold on February 22 at $307 per tonne cfr for HMS 1&2 (80:20) and $317 per tonne for bonus, prices went down by around $10 per tonne at the end...Read More
Turkish domestic scrap prices have gone down over the past week in line with the downturn in imported scrap values, sources said on Monday February 25.Fastmarkets' weekly price assessment on Monday for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,630-1,820 ($306-342) per tonne delivered, widening downward from the TRY1,680-1,820 per tonne of last week.A number of steel mills and a maj...Read More
Last Thursday's brief correction in metals prices was just a pause in what is turning into a strong rally, with the three-month base metals prices traded on the London Metal Exchange up by an average of 0.6% on the morning of Monday February 25.Copper and tin prices are extending into fresh highs for the year, while the other base metals are rallying. Copper prices were up by 0.4% this morning at...Read More
[Editor’s note: This story was previously published in May 2018. It has since been updated and republished.]Do you think penny stocks are best left to amateur traders who don’t understand that cheap stocks are cheap for a reason? It’s not an entirely unfair assessment. Many of these young (and doomed companies) are the beneficiaries of great sales pitches, but their investors oft...Read More
Prices in China for imports of 37% manganese ore fell over the week ended Friday February 22, with some buyers resisting recent rises in offer prices.Low-grade ore price fallsHigh-grade ore price ticks upwardUS prices of FeMn 78% and SiMn edge upwardSiMn price in China fallsAlloy prices stable in Europe and India.Fastmarkets' index price for 37% manganese ore, cif Tianjin, fell by $0.13 per dry me...Read More
Prices for flat steel exports from the Commonwealth of Independent States (CIS) held steady this week although market participants were expecting discounts, sources told Fastmarkets on Monday February 25.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was unchanged at $520-530 per tonne fob Black Sea on February 25.Ukraine-origin HRC was offered at $530-535 per...Read More
South Korea has recommended five-year anti-dumping duties on stainless steel bar from Taiwan and Italy, after its trade commission found that imports had injured the domestic industry.The Korea Trade Commission requested the finance ministry to set tariffs of 9.47-18.56% against Taiwanese products and 10.21-13.74% against Italian products for five years, according to the Ministry of Trade, Industr...Read More
Import prices for steel slab in Southeast Asia and East Asia moved up again over the past week amid higher offers and limited availability, although no transactions were heard due to the large bid-offer spread.Fastmarkets' weekly import price assessment for slab imports to Southeast Asia and East Asia was $460-480 per tonne cfr on Monday February 25, widening upward by $10 per tonne from $460-470...Read More
The Turkish steel industry managed to increase its export volumes in 2018 despite the creation of international trade barriers that had a huge effect on the market, the Turkish Steel Exporters' Assn (??IB) told Fastmarkets on Friday February 22.Turkey increased its steel exports by 20.80% year-on-year to 21.40 million tonnes in the full year of 2018, while the value of those exports rose by 36.10%...Read More
Import prices for rebar in Singapore held steady over the past week on limited activity in the spot market.Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $500-515 per tonne cfr for the week to Monday February 25, unchanged from the previous week.Turkish rebar was offered at $520-525 per to...Read More
China's rebar prices moved up on Monday February 25 in both the domestic and export markets following higher billet prices over the weekend.Domestic Eastern China (Shanghai): 3,750-3,800 yuan ($559-566) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,740-3,770 yuan per tonne, up 10-20 yuan per tonneBillet prices moved up over the weekend on stronger demand, leading to high...Read More
The Turkish steel mills stayed out of the deep-sea scrap market on Monday February 25 and made no bookings, preferring to remain in wait-and-see mode after the recent sharp decrease in the prices, Fastmarkets heard.Following the news of a Baltic Sea cargo sold on February 22 at $307 per tonne cfr for HMS 1&2 (80:20) and $317 per tonne for bonus, prices went down by around $10 per tonne at the end...Read More
Turkish domestic scrap prices have gone down over the past week in line with the downturn in imported scrap values, sources said on Monday February 25.Fastmarkets' weekly price assessment on Monday for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,630-1,820 ($306-342) per tonne delivered, widening downward from the TRY1,680-1,820 per tonne of last week.A number of steel mills and a maj...Read More
Seaborne iron ore prices fell significantly on Monday February 25 amid limited trading activity after losses in the futures and swaps markets. MB 62% Fe Iron Ore Index: $84.84 per tonne cfr Qingdao, down $1.81 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.24 per tonne cfr Qingdao, down $1.81 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $86.42 per tonne cfr Qingdao, down $2.01 per tonne....Read More
Export prices for steel slab from the Black Sea basin have jumped by $15-20 per tonne over the past week, supported by tight availability of the material in the region, Fastmarkets heard on Monday February 25.Necessary repairs at some production units were behind the reduced availability, market sources said.In particular, merchant slab output from Ukrainian steelmaker Metinvest in December-Februa...Read More
Import prices for steel slab in Southeast Asia and East Asia moved up again over the past week amid higher offers and limited availability, although no transactions were heard due to the large bid-offer spread.Fastmarkets' weekly import price assessment for slab imports to Southeast Asia and East Asia was $460-480 per tonne cfr on Monday February 25, widening upward by $10 per tonne from $460-470...Read More
China's rebar prices moved up on Monday February 25 in both the domestic and export markets following higher billet prices over the weekend.Domestic Eastern China (Shanghai): 3,750-3,800 yuan ($559-566) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,740-3,770 yuan per tonne, up 10-20 yuan per tonneBillet prices moved up over the weekend on stronger demand, leading to high...Read More
A wave of restocking by Chinese ferro-chrome producers has prompted a jump in UG2 chrome ore prices. UG2 chrome ore prices rise in China Spot domestic ferro-chrome prices edge up in China Alloy prices hold up in Japan, South Korea Alloy prices inch higher in Europe US prices stable amid inactivity.UG2 chrome ore prices jumped in China on Friday February 22 amid a wave of restocking by domestic fer...Read More