A proposed definitive decision in the European safeguard case against certain steel product imports "does not take into account the needs of the automotive sector and will affect the competitiveness of EU automobile manufacturers," the European Automotive Manufacturers Association (ACEA) said on Friday January 4.The European Commission (EC) notified the World Trade Organisation (WTO) on January 4...Read More

The European Commission (EC) intends to impose definitive measures in the form of tariff-rate, partially country-specific and quarterly quotas for 26 steel product categories for its safeguard case against steel dumping in Europe, the EC said on Friday January 4.The EC has notified the World Trade Organisation (WTO) of its findings in the safeguard investigation on certain steel products. The leve...Read More

European alloy surcharges for stainless steel products have fallen for the sixth consecutive month in January because of weak market fundamentals resulting from high volumes of imports.The January alloy surcharge for 2mm grade-304 cold-rolled (CR) stainless steel sheets - based on data published by producers Outokumpu, Aperam and Acerinox - is ?,?1,242-1,294 ($1,413-1,472) per tonne, accordin...Read More

Prices for coated-steel coil products in Turkey were mostly unchanged in the week to Friday January 4 amid continued limited demand.Demand is unlikely to improve before January 15 because buyers expect prices to fall more, sources told Fastmarkets MB.Domestic prices One producer in northern Turkey was still offering 0.5mm hot-dipped galvanized coil (HDG) at $650 per tonne ex-works, while one produ...Read More

Domestic prices for steel coil products in Turkey were stable this week on continued slow demand, sources told Fastmarkets on Friday January 4."This week everyone has preferred to wait to see what the price direction will be," a source told Fastmarkets. "The expectation is that we will see more price falls."Fastmarkets' weekly price assessment for Turkish domestic hot-rolled coil was $500-510...Read More

The import market for shredded steel scrap in India has extended its losses into January as suppliers in Europe and the Middle East cut their offer prices to encourage Indian buying interest amid slower European and Turkish demand, industry sources said on Friday January 4.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was calculated at $318.39 per tonne cfr N...Read More

The light iron steel scrap market in the United Kingdom has been stable over the week ended Friday January 4, extending a steady performance in prices for the third consecutive week.But downward pressures pose a threat, with January delivery settlements expected to be at lower prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant b...Read More

Alloy steel scrap prices in Europe and the UK have been assessed as either stable or moving downward amid continued weak demand from mills, and market participants have little hope of any improvement in the near future.In the UK market, domestic prices for 18/8 alloy steel scrap solids were assessed on Friday January 4 at ?770-800 ($969-1,007) per tonne...Read More

Turkish steel producers resumed deep-sea scrap bookings at the end of the week, sending prices down by $8 per tonne, sources told Fastmarkets on Friday January 4.The mills have been trying to do deals at around $280 per tonne cfr over the past week, while suppliers have been resisting those bids.However, one steel producer in the Iskenderun region signed a deal with a US s...Read More

This week's sudden rise in the value of the Japanese yen could support higher ferrous scrap offers in Asia, market sources told Fastmarkets MB on Friday January 4."Japanese scrapyards may increase their offers next week because of the strong yen," a scrap buyer in east Asia said. "However, this may cause difficulty in selling scrap export cargoes because Japanese scrap will become less compet...Read More

Physical iron ore prices continued to strengthen on Friday January 4, but buyers remained hesitant, especially around seaborne cargoes.MB 62% Fe Iron Ore Index: $73.10 per tonne cfr Qingdao, up $0.48 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.93 per tonne cfr Qingdao, up $0.48 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.90 per tonne cfr Qingdao, up $0.78 per tonne. MB 58% Fe Prem...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing...Read More

Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Friday January 4, with a weaker dollar index spurring buying momentum in London.Climbing more than 3% over the morning, the three-month zinc price was the morning's best performer. The price has gained more than $150 after just 4,000 lots have traded as of 10:10am London time, while a decade-low in...Read More

Seaborne coking coal prices dropped sharply on Friday January 4, in line with market participants' expectations.A cargo of premium mid-vol materials was traded at $196 per tonne fob Australia while a shipment of premium low-vol product changed hands at $204 per tonne cfr China, sources told Fastmarkets."Given the weakness in China's downstream market and its domestic coking coal and metallurgical...Read More

Zinc stocks on the Shanghai Futures Exchange surged by almost 40% week on week on Friday January 4, while stocks for other base metals, bar copper and nickel, posted modest weekly increases. Deliverable zinc stocks at SHFE-approved warehouses rose by 7,795 tonnes or 38.8% since December 28 to 27,898 tonnes. This week R&S Logistics in Shanghai saw the most stock entering its sheds - 2,960 tonnes of...Read More

Three-month base metals prices on the London Metal Exchange were generally firmer this morning, Friday January 4, with copper, nickel, zinc and lead up by an average of 0.8% - with copper up by 1.1% at $5,840 per tonne. Aluminium and tin bucked the trend, however, to decline by 0.5% and 0.1% respectively.Volume across the complex has been high - as it has been each trading day this week - with 9,9...Read More

China's ferrous futures continued to rise during morning trading on Friday January 4 ahead of bilateral trade talks with the United States and amid plans of new infrastructure investments by the state railway operator for this year.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,473 yuan ($505) per tonne, up 32 yuan per tonneMay hot-rolled coil: 3,369 yuan per tonne...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-warehouse, $ per lb Click here for Fastmarkets' price assessment for alloy-grade cobalt, in-warehouse, $ per lbIn light o...Read More

The following Fastmarkets minor metals prices changed on Friday January 4:Minor metalsBismuth MB China domestic, yuan/tonne: 47,000-49,000 yuan per tonne from 47,500-49,500 yuanChromium MB free market alumino-thermic, $/tonne: $9,800-10,200 from $10,100-10,400Cobalt MB free market alloy grade, $/lb: $25.50-27.25...Read More