Fastmarkets published its CIS export billet index later than scheduled on Monday March 25 but it is now appearing as normal.Fastmarkets' CIS export billet index, fob Black Sea, was published in the Fastmarkets price book later than scheduled. The price book has been updated.To provide feedback on the delayed publication of these calculations, please contact Vlada Novokreshchenova by email at: pric...Read More
Abu Dhabi, United Arab Emirates-based flat steel re-roller and galvanizer Al Ghurair Iron & Steel increased its hot-dipped galvanized coil prices by $20 per tonne with immediate effect on Monday, March 25.The company is offering 1mm thick HDG with 275 grams per square meter zinc coating at $824 per tonne ex-works for June production from Monday, up from the previous $804 per tonne ex-works.Th...Read More
Turkish steel mills added two more cargoes to round off last week's activity before going quiet in the deep-sea scrap markets after the government's response to Donald Trump's Golan Heights comments. A steel producer in the Marmara region booked a US cargo, comprising 35,000 tonnes of HMS 1&2 (80:20) at $323 per tonne cfr and 5,000 tonnes of bonus at $333 per tonne late on Friday March 22.The same...Read More
Turkish domestic auto-bundle scrap prices have gone up over the past seven days, while ship scrap prices fell because the country's lira has weakened against the US dollar, sources said on Monday March 25.Fastmarkets' weekly price assessment for domestic auto-bundle (DKP-grade) scrap in Turkey was TRY1,700-1,870 ($295-324) per tonne delivered on Monday, widening upward from last week's TRY1,700-1,...Read More
Vale's Brucutu iron ore mine in Brazil will not resume normal operations as early as was intended, the Brazilian miner said on Monday March 25.A civil court ruled on March 22 that operations should halt at several tailings dams, one of which is used by the mine, in the south-eastern state of Minas Gerais.The dams affected by the decision were Paracatu, Lavra Azul, Dic??o Leste, Mosquito, Cobras, B...Read More
Physical iron ore prices were rangebound on Monday March 25 amid mixed news about Australian and Brazilian supplies.MB 62% Fe Iron Ore Index: $85.81 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.93 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87.40 per tonne cfr Qingdao, down $0.95 per tonne. MB 58% Fe Premium Index: $7...Read More
Seaborne coking coal prices fell across the board on Monday March 25 after lower offers emerged in the market.A cargo of premium mid-vol hard coking coal was offered at $209 per tonne fob Australia, while two shipments of lower-ranked brands in the same category were offered around $201-203 per tonne cfr China, according to various sources.In the meantime, a cargo of lower-ranked second-tier hard...Read More
Prices for seaborne iron ore concentrate and pellets weakened further last week in the absence of any improvement in demand from China.Concentrate The weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $97.63 per tonne cfr China last Friday March 22, down by $2.92 per tonne from a week earlier.In comparison, the daily Fastmarkets MB 65% Fe Iron Ore Index averaged $96.64 per tonne cfr...Read More
China's domestic rebar prices were flat on Monday March 25, though but export offers edged up amid a positive outlook for demand in the next couple of months. Domestic Eastern China (Shanghai): 3,840-3,880 yuan ($572-578) per tonne, unchanged Northern China (Beijing): 3,840-3,870 yuan per tonne, unchangedWeakening futures led to a slowdown in procurement rates in the spot rebar market.But sellers...Read More
China's hot-rolled coil prices were largely steady on Monday March 25 amid sparse trading due to stagnant demand in both the domestic and export markets.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($573-576) per tonne, unchangedNorthern China (Tianjin): 3,800-3,820 yuan per tonne, widening upward 10 yuan per tonneThin trading kept domestic prices stable during the day.While products sold at...Read More
The London Metal Exchange three-month base metals prices ran into follow-through selling on the morning of Monday March 25 following the weak economic data points released at the end of last week.Flash manufacturing purchasing managers' index (PMI) data from the United States and Eurozone were disappointingly soft and underscored weakening global economic growth. The three-month nickel price was t...Read More
Key data from the pricing sessions in London and Shanghai on Friday March 22. China Key drivers The Chinese grade 553 silicon export price was steady week on week at $1,560-1,620 per tonne on March 22. Chinese traders refused aggressive bids from overseas buyers, heard below $1,500 per tonne, citing prices below $1,560 per tonne as far below than their cost line. Steady domestic demand...Read More
The Chinese antimony price continued to trend down for the fourth consecutive week amid persistently weak demand and abundant supply in the latest assessment period ended Wednesday March 20. Fastmarkets' price assessment for MMTA standard-grade II antimony, delivered duty-paid in China, fell 1.6% week on week to 45,000-46,000 yuan ($6,723-6,872) per tonne on Wednesday March 20, from 46,000-46,500...Read More
The Chinese ferro-silicon price was stable in the past week in line with fundamentals, while the downturn in the European price persisted against weak spot demand. China supported on lower production Europe drops to 2016 low with more weakness expected US market holds, weakness may loom ahead Chinese ferro-silicon prices have been steady in the past week in line with demand from steel...Read More
Long-term contract and import prices for ferro-chrome rose again in China in the week ended Friday March 22 on higher tenders from stainless steel mills and load shedding by South Africa electricity company Eskom. April tenders push up long-term contract prices in ChinaCharge chrome import prices rise on protracted power constraintsAlloy prices rise in South KoreaEuropean alloy prices flatline de...Read More
China's leading stainless steel mills announced increases in their April tender prices for high-carbon ferro-chrome by 300 yuan ($45) per tonne month on month on Friday March 22.The rises will be imposed by Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel, Fastmarkets heard.After this adjustment, Tisco's April tender price for high-carbon ferro-chrome will be 6,950 yuan ($1,038) per tonn...Read More
China's copper scrap imports in February dropped by 63% month on month and by half compared with February 2018, according to the latest Chinese customs data released on Monday March 25. China imported 64,622 tonnes of copper scrap in February 2019, a sharp drop of 63.5% from 176,900 tonnes in January. This was attributed to a fall in activity during the week-long Lunar New Year holiday in February...Read More
British Columbia Investment Management Corporation says it will vote against the proposed merger of Goldcorp (TSX: G; NYSE: GG) and Newmont Mining (NYSE: NEM) due to Goldcorp's decision to award its chairman, Ian Telfer, a US$12 million retirement allowance.BCI, which provides investment management services to B.C.'s public sector and has about $145.6 billion under management, says the retirement...Read More
Here are today's videos and charts (double-click to enlarge):SFS Key Charts, Signals, & Video Analysis SF60 Key Charts, Signals, & Video Analysis SF Trader Key Charts, Signals, & Video Analysis SFJ Key Charts, Signals, & Video AnalysisMarch 26, 2019Morris HubbarttUnique Introduction For Website Readers: Send me an email to signals@superforcesignals.com and I'll send you my free "...Read More
The last year was a tough time for platinum miners. The durable white metal, which, in the runup to the Global Financial Crisis by mid-2008, was trading at over US$2,150 an ounce, has fallen sharply to be worth US$863 per ounce and down by almost 10% for the year to date. There are signs that platinum is due to break out of its long-term slump and move higher, which will be a boon for platinum min...Read More