The pig iron market in the United States was confused by heavy drop in the scrap market in the week ended Friday January 11, and both buyers and sellers preferred to wait until the situation in the market became clearer.Fastmarkets' import price assessment for pig iron in the US fell to $350-360 per tonne cfr on Friday, down from $365 per tonne cfr a week earlier.Offers from some pig iron supplier...Read More
Manganese ore prices have started 2019 by continuing a slide that began last December, weighed down by weak downstream demand in China, where market participants are reluctant to buy amid price risk fears.Manganese ore prices have started 2019 by continuing a slide that began in December, weighed down by weak downstream demand in China, where market participants are reluctant to buy because of fea...Read More
Base metals closed mostly higher on the London Metal Exchange on Friday January 11 on improving risk appetite, with nickel climbing above $11,400 per tonne.The three-month nickel price remains in an uptrend - it gained 2% today and is up by more than 8% from its lowest in 2018 at $10,530 per tonne on December 31 - while zinc climbed by 1.2% to close just below $2,500 per tonne, basis three months....Read More
Lead stocks on the Shanghai Futures Exchange (SHFE) surged by almost 80% week-on-week on Friday January 11.Stocks for other base metals, except copper, posted only modest increases and decreases over the week. Deliverable lead stocks at SHFE-approved warehouses have risen by 12,709 tonnes, or 76.6%, since January 4 to 29,308 tonnes. This followed an increase of just 773 tonnes one w...Read More
Iron ore prices were largely rangebound on Friday January 11 with further pressure applied to the port market due to a stronger exchange rate for China's yuan against the US dollar.MB 62% Fe Iron Ore Index: $73.45 per tonne cfr Qingdao, up by $0.09 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.59 per tonne cfr Qingdao, up by $0.09 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $75.04 per ton...Read More
Scrap prices in the major markets worldwide continued to fall during the working week from Monday January 7 to Friday January 11, following the downturn in the Turkish market.But demand was strengthening due to low stock levels in both Turkey and Asia, despite the weakness of the markets for finished steel - especially in Turkey.Turkey importsThe Turkish steel mills resumed their deep-sea scrap pu...Read More
Brazilian slab export prices fell this week because of weak buying activity in the main slab consumer markets.Fastmarkets' weekly price assessment for Brazilian slab exports dropped to $415-465 per tonne fob on Friday January 11, down from $430-470 per tonne fob a week before.Mills have agreed to lower offers in order to book volumes for March shipment, but...Read More
The London Metal Exchange has opened a consultation period on a host of proposed rulebook changes and regulatory amendments, seeking feedback from its members and other interested parties.The consultation period will last until February 11, 2019, according to a note to members released on Friday January 11.The process will consider five key amendments that relate to the exchange's preparation for...Read More
Base metals closed mostly higher on the London Metal Exchange on Friday January 11 on improving risk appetite, with nickel climbing above $11,400 per tonne.The three-month nickel price remains in an uptrend - it gained 2% today and is up by more than 8% from its lowest in 2018 at $10,530 per tonne on December 31 - while zinc climbed by 1.2% to close just below $2,500 per tonne, basis three months....Read More
Comex copper prices nudged higher on Friday morning in the US while the market awaits developments in the US-China trade talks aimed at resolving the trade war between the two countries.The copper price for March settlement on the Comex division of the New York Mercantile Exchange recovered by 0.75 cents to trade recently at $2.6450 per lb."We are constructive on copper for the first quarter...Read More
The domestic alumina market in China has shown no immediate effects from the country's official warning of an overcapacity for the material, issued at the end of last year.Fastmarkets assessed the free market price of metallurgical-grade alumina, delivered duty paid, at 2,800-2,900 yuan ($408-423) per tonne on Thursday January 10, unchanged from a week before but still its lowest level since July...Read More
Lead stocks on the Shanghai Futures Exchange (SHFE) surged by almost 80% week-on-week on Friday January 11.Stocks for other base metals, except copper, posted only modest increases and decreases over the week. Deliverable lead stocks at SHFE-approved warehouses have risen by 12,709 tonnes, or 76.6%, since January 4 to 29,308 tonnes. This followed an increase of just 773 tonnes one w...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday January 11, with nickel's three-month price leading gains amid a broadly positive market sentiment.Continuing its recent uptrend, nickel's three-month futures price is up more than 2% over the morning, reaching an intraday high of $11,490 per tonne while strong demand, particularly from the stainles...Read More
The only steelmaker in Kazakhstan, ArcelorMittal Temirtau, will resume operations at its normal rate late this month or in early February, the company said on Thursday January 10.Since November 10 last year, there have been production problems at the plant because of a gas pipeline explosion.At the moment, only one of the two continuous casting machines that feed flat-rolled steel production, each...Read More
Flat steel import prices remained unchanged in South America over the past week after the traditionally slow restart to the local markets after the new year holiday. Some lower offers, however, translated into deals and downward pressure on prices was reported.Fastmarkets assessed import prices for hot-rolled coil (HRC) in the region at $520-530 per tonne cfr on January 11, stable since December 2...Read More
Indian importers are likely to book commercial-grade hot-rolled coil (HRC) from South Korea because similar material from China is still not a viable option for imports.South Korean HRC was offered to Indian importers this week at $530-535 per tonne cfr for February shipment. This means that it will cost importers around 39,500-40,000 rupees ($561-568) per tonne exclusive of taxes.Fastmarkets' pri...Read More
Some steel coil prices in Turkey fell this on continued slow demand due to the continuing US import tariffs and the struggling Turkish lira, sources told Fastmarkets on Friday January 11. Demand has been poor in the country since August 2018, when relations between Turkey and the United States deteriorated and the Turkish Lira lost value against the US dollar after US president Donald Tr...Read More
Prices for coated-steel coil products in Turkey decreased in the week to Friday January 11 with demand remaining limited.Demand is unlikely to improve any time soon because buyers expect prices to fall further, sources told Fastmarkets.Levels of demand have been poor in the country since August 2018, when political relations between Turkey and the United States deteriorated after Turkey detained a...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGI Hot-rolled coilTurkey, domestic, hot-rolled coil, offered at $495-510 per tonne ex-works, March production. Turkey, export, hot-rolled coil, offered at...Read More
Pig iron exporters from the south of Brazil reduced offers under pressure of low demand and falling scrap prices, sources told Fastmarkets on Friday January 11.Meanwhile, suppliers from the north of Brazil stayed of the market, because they are sold out till Mach. Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region dropped to $310-320 per tonne...Read More