The global refined copper balance will switch from a deficit this year to a surplus next year on an expansion in Chinese refining capacity and a slowdown in global economic growth, the International Copper Study Group (ICSG) said on Wednesday October 23.The world is forecast to produce 25.3 million tonnes of refined copper next year, up 4.2% from this year's expected global output, the group said&...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 23. Key drivers Ferro-titanium market stability extended for a third week despite only low volumes reported sold. Only one truckload of ferro-titanium was reported being sold at $4.50 per kg delivered, duty-paid. Alloy suppliers are looking to start negotiations for deliveries on longer-term agreements as s...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 23. Key drivers Ferro-titanium market stability extended for a third week despite only low volumes reported sold. Only one truckload of ferro-titanium was reported being sold at $4.50 per kg delivered, duty-paid. Alloy suppliers are looking to start negotiations for deliveries on longer-term agreements as s...Read More
The Turkish steel mills have extended their silence in the deep-sea scrap markets and are now focused on the markets for billet and finished long steel, sources said on Wednesday October 23.The mills in Turkey have been very active in scrap purchasing so far this month, booking at least 16 cargoes. They went quiet in the deep-sea markets at the end of last week after booking almost 500,000 tonnes...Read More
A summary of Antofagasta's production results for the third quarter of 2019 following the company's results report released on Wednesday October 23.IN BRIEF: Antofagasta's group copper production for the third quarter of 2019 was recorded at 197,000 tonnes, a drop of 0.8% against the previous quarter. Group copper production for the first nine months of 2019 climbed to 584,200 tonnes, a rise...Read More
Domestic hot-rolled coil prices in Northern Europe have been stable over the past week, while prices in the south declined by ?,?5 per tonne over the period, sources told Fastmarkets on Wednesday October 23.Although the prices have not changed significantly, the market remains under downward pressure from poor demand.Northern EuropeDomestic prices for HRC in the north of Europe have been stab...Read More
Chinese mills raised their domestic offers on Wednesday October 23, though buyers in the eastern region put up some resistance against them, resulting in a smaller price rise in comparison with those in the northern region.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($494-497) per tonne, widening upward by 10 yuan per tonneNorthern China (Tangshan): 3,500 yuan per tonne, up 20 yuan per tonn...Read More
China's plate producers lowered their export prices over the past week amid fierce competition from Japanese and South Korean sellers.Fastmarkets' price assessment for December shipments of steel heavy plate export, fob China main port was $443-450 per tonne for the week ended Tuesday October 22, down $10-12 per tonne from $455-460 per tonne a week earlier.A trader based in eastern China said he h...Read More
Chilean iron ore and long steel producer Compa???-a de Acero de Pac?-fico (CAP) was forced to reduce production from some of its iron ore operations in the week to Wednesday October 23 amid widespread anti-government protests in the country.CAP's 75%-owned mining subsidiary, Compa???-a Minera del Pac?-fico (CMP), had partial interruptions to operations at one of its iron ore pellet plants and at t...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) will resume operations at its No3 blast furnace later this week, after a maintenance outage lasting more than three months.The company told Fastmarkets about the restart late on Tuesday October 22 and the resumption in output will add steelmaking capacity to the country's already-flat steel market. Prices are already under p...Read More
The price of steel rebar in the Southern European domestic market has been stable this week but participants were closely watching the ferrous scrap markets to see how prices there would develop, Fastmarkets heard on Wednesday October 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?445-465 ($496-518) per tonne on Wednesday, unc...Read More
The Turkish steel mills have extended their silence in the deep-sea scrap markets and are now focused on the markets for billet and finished long steel, sources said on Wednesday October 23.The mills in Turkey have been very active in scrap purchasing so far this month, booking at least 16 cargoes. They went quiet in the deep-sea markets at the end of last week after booking almost 500,000 tonnes...Read More
Exports of hot-briquetted iron from Venezuela have remained low in recent weeks because of a continuing shortage of iron ore pellets and pressure from sanctions imposed by the United States, sources told Fastmarkets on Wednesday October 23.Around 125,000 tonnes of HBI was available from stocks in Venezuela in early October, according to an official source."Venezuela is producing HBI but we will se...Read More
Seaborne iron ore prices edged up on Wednesday October 23 in line with the trend seen in the futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.18 per tonne, up $0.50 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87 per tonne, up $0.67 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.66 per tonne, up $0.39 per tonne.58% Fe fines high-premium, cfr Qin...Read More
CIS billet producers continued to increase their export offer prices, this week, amid reduced availability of the material in the market.Offers from Ukraine were limited because three mills- Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD), Dnipro Metallurgical Plant (DMP) and Elektrostal have idled parts of their facilities because of this year's unfavorable pricing environment.U...Read More
Export billet and slab prices in Iran moved in different directions in the week ended Wednesday October 23 with trends in the global markets showing a similar divergence.The Iranian export billet price inched upward following price rises in Asia, the CIS and the Middle East. Large-volume billet sales to China and Southeast Asia in recent weeks supported the efforts of Iranian billet producers.A ca...Read More
China's domestic rebar prices were flat on Wednesday October 23 as active selling by stockists offset stronger billet and futures prices. Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedTangshan's billet price picked up by 30 yuan per tonne after local blast furnace operators cut their production by...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 23. Key drivers Ferro-titanium market stability extended for a third week despite only low volumes reported sold. Only one truckload of ferro-titanium was reported being sold at $4.50 per kg delivered, duty-paid. Alloy suppliers are looking to start negotiations for deliveries on longer-term agreements as s...Read More
An overview of the noble alloys markets and their latest price moves.Read More