Turkish domestic auto bundle scrap prices have gone down over the past week amid further softening of imported scrap values, but ship scrap prices were largely stable, sources said on Monday September 30.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,300-1,430 ($228-251) per tonne on Monday, down from last week's TRY1,340-1,450 per ton...Read More
CIS export billet prices continued to fall at the end of September amid the continuing downtrend in the global steel markets, particularly the finished flat steel segment, both domestically and in the major customer outlets, due to the slowdown in trading activity.Despite the reduced availability of slab in the region due to maintenance work at major mills, suppliers still had to cut their prices...Read More
Import prices for steel slab in Southeast Asia and East Asia nudged down over the past week because of lower prices in the downstream flat steel markets, market sources said.Buyers are unable to pay more for steel slab because of the downtrend in the international and domestic flat steel markets, a source in Indonesia said.For instance, in Southeast Asia's major hot-rolled coil import market in Vi...Read More
China's domestic prices rose on Monday September 30 on news that the country's steelmaking hub in the northern region had stepped up its production curbs. Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($529-533) per tonne, up 90-100 yuan per tonneNorthern China (Beijing): 3,600-3,640 yuan per tonne, up 10 yuan per tonneTangshan's local government over the weekend instructed all steel mills u...Read More
Manganese ore producers reduced their offer prices to attract business in the week ended Friday September 27 after buyers either delayed or cut their bids prior to China's week-long National Day holiday (October 1-7). Low demand softens seaborne and port manganese ore markets Weak buying interest weighs on alloy in China Alloy sellers in India lower offer prices Alloy prices in...Read More
Jim Willie discusses the current repo bailout and the hidden trillion dollar a week repo bailout which he claims has been active for since 2017. He also details repercussions of infinite quantitative easing, and how it's the taking the global economy to a financial cliff, and Jim also opens up personally about the demonic attacks taking place in his life. Jim Willie is a statistical analyst in mar...Read More
"That story, which appeared in Bloomberg: I've read it far more carefully than it was written...Over half of it was highly inaccurate or simply flat-out false."Continue...Read More
The Chinese domestic spot ferro-silicon price ticked higher on tighter supply, while the export price dropped due to weak demand and aggressive international competition in the week ended Friday September 27. Chinese major suppliers cut production prompting higher offer pricesChinese export price diverged by falling due to low downstream demand Europe spot price dropped after some Q4 deals w...Read More
The European Commission (EC) has made a number of changes to its existing regime of safeguard measures concerning 26 steel product categories, it said on September 26.The changes will come into force on October 1 this year.The definitive safeguard mechanism already in place increases the level of tariff-free quotas for each product category by 5% annually. The first such liberalization took place...Read More
Turkey exported 381,915 tonnes of flat steel products in August 2019, according to the Turkish Statistical Institute (TUIK), up by 7.11% year on year from the 356,568 tonnes exported in August 2018. Despite negative sentiment in the flat steel market in Europe in July, when orders for August shipping were placed, there was still a moderate increase in...Read More
The appointment of a European chief trade enforcement officer should ease trade problems in the steel and aluminium sectors and help tackle Chinese excess capacity, industry experts told a meeting of the European Parliament Committee on International Trade (INTA) in Brussels. The new officer will work under the guidance of the new European Union commissioner for trade. If appointed, as expected,&n...Read More
Martin LovePosted Sep 29, 2019Vladimir Putin appears far and away smarter than any major Western “leader”, especially Donald Trump and Mike Pompeo. Ansarullah appears to have attacked the Abqaiq oil processing plant in the Eastern Province of Saudi Arabia with drones or something, or claims it did. Maybe they fired off missiles of some sort that had adopted Iranian technology. It&rsquo...Read More
Turkey exported 381,915 tonnes of flat steel products in August 2019, according to the Turkish Statistical Institute (TUIK), up by 7.11% year on year from the 356,568 tonnes exported in August 2018. Despite negative sentiment in the flat steel market in Europe in July, when orders for August shipping were placed, there was still a moderate increase in...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Monday September 30, climbing up by some 2.5% amid moderately high turnover, while lead futures were similarly stronger over the afternoon. Zinc's outright price closed at $2,376 per tonne on Monday afternoon, its highest closing price since August 1, while volumes traded were at their highest since Septe...Read More
The ferro-vanadium export price in China held steady for the third consecutive week in the week to Thursday September 26 despite muted buying interest from abroad due to the Chinese price surpassing its counterparts elsewhere.Fastmarkets' assessment of the export price for ferro-vanadium, 78% V min, fob China was at $35.50-38.50 per kg on September 26, unmoved week on week. Few inquiries for ferro...Read More
Manganese ore producers reduced their offer prices to attract business in the week ended Friday September 27 after buyers either delayed or cut their bids prior to China's week-long National Day holiday (October 1-7). Low demand softens seaborne and port manganese ore markets Weak buying interest weighs on alloy in China Alloy sellers in India lower offer prices Alloy prices in...Read More
Here are five Fastmarkets MB stories you might have missed on Monday September 30 that are worth another look.The European Commission has made a number of changes to its existing regime of safeguard measures concerning 26 steel product categories, it said on Thursday September 26. At the same time, the appointment of a European chief trade enforcement officer was welcomed by the steel and alu...Read More
Discussions and negotiations for cobalt supply in 2020 quickly got under way after Glencore announced it will close its Mutanda mine in the Democratic Republic of Congo at the end of the year.The action to take 25,000 tonnes per year of cobalt (contained in hydroxide) out of the market has fundamentally changed the supply picture for next year. Prices for cobalt metal, intermediates and salts all...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Monday September 30, climbing up by some 2.5% amid moderately high turnover, while lead futures were similarly stronger over the afternoon. Zinc's outright price closed at $2,376 per tonne on Monday afternoon, its highest closing price since August 1, while volumes traded were at their highest since Septe...Read More
Chinese buying activity pushed up seaborne coking coal prices on Monday September 30, ahead of a week-long holiday to mark the country's 70th National Day.Premium hard coking coal, fob DBCT: $137.29 per tonne, up $4.56 per tonne Premium hard coking coal, cfr Jingtang: $159.70 per tonne, up $6.11 per tonneHard coking coal, fob DBCT: $121.25 per tonne, unchangedHard coking coal, cfr Jingtang: $134.0...Read More