CIS export billet gained $10 per tonne in the week to Friday December 6, with customers accepting deals at higher prices in response to rising scrap costs.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was $400 per tonne fob Black Sea on Friday, against $390 per tonne fob on the same day last week.Sales of CIS-origin billet were done to North Africa...Read More
China's domestic rebar prices continued dropping on Friday December 6 as mills maintained high levels of production over the week. Eastern China (Shanghai): 3,870-3,900 yuan ($549-554) per tonne, down 70 yuan per tonneNorthern China (Beijing): 3,630-3,670 yuan per tonne, down 40 yuan per tonneRebar output at major Chinese mills totaled 3.63 million tonnes over the week ended Thursday, up 70,0...Read More
The price of grade-304 stainless steel flat products in Europe fell significantly over the past week on substantially lower monthly alloy surcharges for December, sources told Fastmarkets on Friday December 6.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,130-2,150 ($2,363-2,385) per tonne on Friday...Read More
Brazil's domestic rebar price was unchanged in December while market participants braced for an upcoming hike in January amid higher demand.Fastmarkets assessed the price for steel reinforcing bar (rebar) domestic monthly, delivered Brazil at 2,220-2,320 Reais ($528-552) per tonne on Friday December 6, unchanged from the previous month but up by 1.7% from 2,165-2,300 Reais per...Read More
Sir Brian Bender has seen three London Metal Exchange chief executive officers, the sale to Hong Kong Exchanges & Clearing and a great number of other changes over more than nine years as the exchange's chairman, he told Fastmarkets in an interview, but the open outcry system will remain for as long as members support it. Bender was on holiday in Australia when a headhunter emailed to ask whether...Read More
Expectations for a recovery in Brazilian steel demand this year have been postponed to 2020 since the economy did not grow as previously forecast, national steel institute A??o Brasil said on Thursday December 5.The institute forecast apparent steel consumption at 21.78 million tonnes next year, a 5.2% increase from the 20.71 million tonnes expected in 2019. This year's outlook was cut f...Read More
With competition in the global steel markets still fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in November 2019.1. US: stainless pressure pipe from China, Malaysia, Thailand and VietnamRead More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday December 6. China Domestic 75-grade alloy prices dropped for the first time since late September in response to the bearish outlook for the forthcoming steel mill tender prices for deliveries of 72-grade alloy, in addition to falling downstream magnesium prices and persistent weak exports.Sentiment...Read More
Global scrap prices in most major markets moved upward during the week ended Friday December 6, due to good demand and a shortage of material in some locations. Prices jump in Turkey on newest tradesUS market activity picks up at higher pricesIndian price move up on material shortagePrices continue to move up in VietnamTaiwan maintains strong demand and solid pricesTurkeyTurkish steel mills booked...Read More
Brazil's domestic rebar price was unchanged in December while market participants braced for an upcoming hike in January amid higher demand.Fastmarkets assessed the price for steel reinforcing bar (rebar) domestic monthly, delivered Brazil at 2,220-2,320 Reais ($528-552) per tonne on Friday December 6, unchanged from the previous month but up by 1.7% from 2,165-2,300 Reais per...Read More
Domestic prices for hot-rolled coil in Northern Europe edged up on Friday December 6, but transaction prices are expected to soon rise more significantly, sources told Fastmarkets. Fastmarkets' steel hot-rolled coil index domestic, exw Northern Europe, was ?,?432.6 ($478.11) per tonne on December 6, edging up from ?,?431.63 per tonne on Thursday.The calculation is based on "workable" pri...Read More
The spread between the 65% and 62% Fe iron ore markets widened last month amid improved profits among Chinese steelmakers and supply issues for Iron Ore Carajas fines.The gap between Fastmarkets' 65% and 62% Fe iron ore indices has held above $10 per tonne since November 8, reclaiming the mark after largely hovering below that since late June. The gap had earlier been above $10 per tonne beginning...Read More
Tin ended higher on the London Metal Exchange on Friday December 6, closing above $17,000 per tonne for the first time since September.Copper also closed positively, ending just below $6,000 per tonne. The three-month tin price finished at $17,075 per tonne, up by 1.7% on Thursday's close. Turnover was high at around 475 lots by the close, the most since November 21.The metal ignored LME tin stock...Read More
Stability remained the theme of the seaborne coking coal market at the end of the week, with little interest in buying activity outside of China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.21 per tonne, down $0.58 per tonnePremium hard coking coal, cfr Jingtang: $147.22 per tonne, unchangedHard coking coal, fob DBCT: $121.33 per tonne, up $0.50 per tonne ...Read More
The three-month nickel price on the London Metal Exchange continued the previous day's momentum during morning trading on Friday December 6, bolstered by a fresh cancellation of 3,642 tonnes, while the zinc price rose slightly from Thursday's close but remains broadly rangebound. The LME three-month nickel price was recently at $13,425 per tonne, climbing more than 1% against Thursday's closing pr...Read More
The price of grade-304 stainless steel flat products in Europe fell significantly over the past week on substantially lower monthly alloy surcharges for December, sources told Fastmarkets on Friday December 6.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,130-2,150 ($2,363-2,385) per tonne on Friday...Read More
The price of austenitic alloy steel scrap fell this week after further losses in the nickel market, sources told Fastmarkets on Friday December 6. Fastmarkets' price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, ?720-780 ($946-1,025) per tonne on Friday, down ?,?20-30 per tonne week on...Read More
The spot premium for copper rod in the United States has risen for the first time since January, driven by a higher copper cathode premium for 2020 annual contracts.Fastmarkets assessed the copper rod premium, ddp Midwest US, at 16-18 cents per lb on Thursday December 5, up by 1 cent from 15-17 cents per lb previously and the first increase since January 3.The gain is due to the increase...Read More
Mining company AfriTin Mining has raised ?3.8 million ($5 million) through the establishment of an unsecured convertible loan note agreement with Switzerland-based trading house AfriMet Resources, the company said on November 26.The agreement was made for a total amount of ?3.8 million, in which the notes are allocated at a value of ?100,000 each under 18-month terms, and will hold an interest...Read More
Tin ended higher on the London Metal Exchange on Friday December 6, closing above $17,000 per tonne for the first time since September.Copper also closed positively, ending just below $6,000 per tonne. The three-month tin price finished at $17,075 per tonne, up by 1.7% on Thursday's close. Turnover was high at around 475 lots by the close, the most since November 21.The metal ignored LME tin stock...Read More