The price for rebar produced and delivered in Southern Europe remained stable on Wednesday January 23, with the market staying quiet even after prices dipped last week.Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe stayed at ?,?510-530 ($579-602) per tonne delivered on Wednesday, with few deals reported over the past week. Offers have drifted lower - the market has....Read More
Deep-sea scrap import prices into Turkey remained firm on Wednesday January 23, with suppliers trying to raise their offers to mills which are trying to replenish their depleted stocks, sources told Fastmarkets.A deep-sea cargo from late last week came to light on Wednesday, indicating a minimum price of $290 per tonne cfr for United States-origin HMS 1&2 (80:20).A steel mill in the Iskenderun reg...Read More
Seaborne iron ore prices fell further on Wednesday January 23 with offers continuing to outnumber bids.MB 62% Fe Iron Ore Index: $74.48 per tonne cfr Qingdao, down by $0.30 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.32 per tonne cfr Qingdao, down by $0.30 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $75.84 per tonne cfr Qingdao, up by $0.06 per tonne.MB 58% Fe Premium Index: $65.94 per...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, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at the March average of the Fastmarkets MB 62% Fe Iron Ore Index-Low Alumina at a premium of $2.05 per tonne, laycan February...Read More
Higher bids amid improved sentiment among seaborne coking coal market participants culminated in higher spot prices on Wednesday January 23.A February-laycan cargo of a top Australian brand was sold at $198.50 per tonne cfr China to a northern Chinese end user, various sources said.A cargo of branded materials, scheduled for loading in March, also changed hands at $197 per tonne fob Australia on t...Read More
Byerwen mine in Queensland, Australia successfully delivered the first shipment of hard coking-coal to JFE Steel's West Japan Works this month, the steel mill said on Wednesday January 23."Together with QCoal, JFE Steel will work to develop the mine and provide a stable, long-term supply of coking coal, which is expected to help reduce volatility in the coking coal market," JFE Steel said.The stee...Read More
Demand for ferrous scrap from end users in Asia remained strong this week, with major steelmakers looking to purchase more of the raw material in the face of strengthening prices in the key market of Turkey.In South Korea, a major mill is seeking Japanese H2 scrap, heavy melting scrap (HMS) 1&2 (50:50), shredded scrap as well as plate and structural (P&S) scrap this week.It submitted bids of ?28,...Read More
The coking coal and coke contracts led the uptrend in the Chinese ferrous futures market during the morning trading session on Wednesday January 23.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,638 yuan ($534) per tonne, up 1 yuan per tonneMay hot-rolled coil: 3,560 yuan per tonne, up 5 yuan per tonneDalian Commodity Exchange May iron ore: 528 yuan per tonne, up 0...Read More
The Comex copper price failed to rebound on Wednesday January 23 with technical selling continuing to weigh on the red metal. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.05 cents to $2.6590 per lb. Persistent worries over the unresolved trade war between the United States and China are keeping...Read More
Privately-owned Sigma Broking Ltd has approached members of the London Metal Exchange to acquire B shares as it moves forward with a plan to become the first new Category I ring-trading entity since 2007, well-informed sources told Fastmarkets. "There have been conversations between Sigma and LME members - it is well known who is long B shares and happy to sell them," one source close to the matte...Read More
Over 130,000 tonnes of aluminium has been canceled at London Metal Exchange warehouses over the past two days with market participants expecting further cancelations by the end of the week. A total of 94,300 tonnes was canceled on Wednesday January 23 on top of 37,500 tonnes on Tuesday - all of which was in Port Klang, Malaysia. "I wouldn't be surprised to see another 100,000 tonnes canceled by th...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Wednesday January 23:Minor metalsBismuth MB free market, $/lb: $3.50-4.00 per lb from $3.40-4.00Cobalt MB free market alloy grade, $/lb: $19.00-21.40 per lb from $20.50-22.50Cobalt MB free market...Read More
Three-month base metals prices on the London Metal Exchange had dipped in recent days on the back of global growth concerns and after follow-through buying from last week waned, but the complex is broadly up again with average gains of 0.3% this morning, Wednesday January 23.Tin, that has been a star performer this year, was bucking the trend with a 0.3% dip to $20,390 per tonne. The rest were up...Read More
Key data from the Wednesday January 23 pricing session in Europe. Key drivers The European ferro-titanium market extended a steady trend in prices for the second week in a row. Alloy dealers expect increased activity in the near term as a recent influx of material from Russia to Europe is being used up.The scrap markets have also extended a steady trend for 11 weeks in 0.5% Sn content titanium sc...Read More
Tsingshan Group, Taiyuan Iron & Steel (Tisco) and Baosteel - China's leading stainless steel mills - will maintain their high-carbon ferro-chrome tender prices unchanged month on month for February amid comparatively stable domestic stainless steel prices over the past few weeks. Tisco released its February tender price for high-carbon ferro-chrome at 6,650 yuan ($977) per tonne on Tuesday January...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 23:Aluminium ingotLM24 pressure diecasting ingot: ?1,410-1,460 per tonne from...Read More
Farhad Abasov has high hopes for Millennial Lithium's (TSXV: ML; US-OTC: MLNLF) Pastos Grandes lithium brine project in Argentina's Salta province.The CEO expects a definitive feasibility study (DFS) in the second quarter, and the project can start production as early as 2021, generating 25,000 tonnes of lithium carbonate equivalent (LCE) a year.In January, the company reported that bench-scale pr...Read More
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