Key data from the pricing sessions in Asia and Europe for the week ended Friday May 17. China The Chinese domestic antimony price tumbled for the second consecutive week after some domestic producers cut their offer prices further in an attempt to generate cash to pay bank loans. Yet some domestic antimony suppliers were resistant in surrendering much on the prices further, and some we...Read More
Key data from the Friday May 17 pricing session in London. Key drivers - Cobalt prices show slight weakness over the course of the week while consumers and traders refrain from buying. Sellers lower their offers while consumers have their immediate requirements covered, so most market participants expect a moderate decline in prices over the summer. -...Read More
Turkish domestic scrap prices have gone down amid stronger supply and softer demand over the past week, sources said on Monday May 20.Three steel mills reduced their buy prices for local shipbreaking scrap to $292 per tonne, while a fourth cut its price to $290 per tonne delivered.As a result, Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking fell to $290-29...Read More
The Turkish deep-sea scrap market became quiet again at the beginning of the week with suppliers withdrawing their offers, after news was heard of the removal of an additional US import tariff on steel imports from Turkey, sources said on Monday May 20.The United States lowered its tariff on steel imports from Turkey to 25%, from the previous 50%, with effect from May 17.This essentially removed t...Read More
Massive amounts of scrap metal are being held at Malaysian ports for unprecedented inspections and multiple copper cargoes still at sea are being diverted to other Asian countries at big discounts, sources told Fastmarkets. The bulk of the cargoes comprise insulated copper wires (ICW), as well as scrap motors, a Malaysian copper scrap buyer said. This type of copper scrap typically comes with a pl...Read More
Renewed selling interest on Friday May 17 has capped the upside from the slight rebound mid-last week and the metal markets generally look shaky in the early morning of Monday May 20. Our assessment of global risk sentiment remains fairly weak and highly dominated by negative macro events. The simmering US-China trade altercation continues to undermine appetite for risk assets. US President D...Read More
The Monday Market Minute Global stocks edge lower as moves to remove and delay tariffs last week by the White House were offset by the tech sector's reaction to the U.S. blacklisting of Huawei.Optimism was held in check by comments from President Donald Trump threatening the "end of Iran" as tension in the Gulf region continue to flare.Global oil prices jump higher following the President's...Read More
Chinese producer Ganfeng Lithium reached a non-binding heads of terms deal with Bacanora Lithium on Monday May 20, under which it will purchase 29.99% of Bacanora's equity at a cost of ?14.4 million ($18.31 million) and will have the chance to acquire 22.5% of Bacanora subsidiary Sonora Lithium for a cash payment of ?7.6 million.Bacanora is based in the UK and listed on The Stock Exchange in Lon...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. 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 fo...Read More
Key data from the Friday May 17 pricing session in London. Key drivers - Cobalt prices show slight weakness over the course of the week while consumers and traders refrain from buying. Sellers lower their offers while consumers have their immediate requirements covered, so most market participants expect a moderate decline in prices over the summer. -...Read More
The market for flat steel products in Russia's Central Federal District around Moscow was stable at the start of this week, with price movement depending on trends in the export market, sources told Fastmarkets on Monday May 20.Fastmarkets' weekly price assessment for Russia-origin 4mm hot-rolled (HR) sheet was unchanged on May 20 at 43,000-44,500 roubles ($664-687) per tonne cpt Moscow, including...Read More
The market for exports of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States (CIS) was frozen on Monday May 20 because suppliers preferred wait for more clarity to emerge in Turkey, the key outlet."[The CIS] mills are mostly sold out for June production, and they have time to wait until some clarity appears in Turkey," one trader told Fastmarkets.The Unite...Read More
European distributors of flat steel products reported a 4.5% year-on-year drop in shipment volumes in the first quarter of 2019, Eurometal said on Monday May 20."Shipments continued their negative trend of late last year and this was accompanied by rising stocks," the regional federation for steel, tube and metals distribution and trade said.European steelmakers such as Germany's ThyssenKrupp have...Read More
European distributors of flat steel products reported a 4.5% year-on-year drop in shipment volumes in the first quarter of 2019, Eurometal said on Monday May 20."Shipments continued their negative trend of late last year and this was accompanied by rising stocks," the regional federation for steel, tube and metals distribution and trade said.European steelmakers such as Germany's ThyssenKrupp have...Read More
CIS export rebar and wire rod markets were quiet in the week ended Monday May 20 with most buyers and sellers taking a wait-and-see approach seeking more clarity from Turkey, which finally achieved a reduction to the US import duty to 25% last week. Recent offers of rebar from Ukraine were heard within the range of $460-475 per tonne fob Black Sea, depending on destination. No bookings were report...Read More
The United Arab Emirates' biggest steel producer, Emirates Steel, has been giving discounts on its rebar price of as much as 126 dirhams ($34) per tonne ex-works on June orders, Fastmarkets learnt on Monday May 20.The conpany was accepting orders at 1,881 dirhams ($512) per tonne ex-works, but its list price was 2,007 dirhams per tonne ex-works, unchanged since early February. Fastmarkets'...Read More
Turkish domestic scrap prices have gone down amid stronger supply and softer demand over the past week, sources said on Monday May 20.Three steel mills reduced their buy prices for local shipbreaking scrap to $292 per tonne, while a fourth cut its price to $290 per tonne delivered.As a result, Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking fell to $290-29...Read More
The Turkish deep-sea scrap market became quiet again at the beginning of the week with suppliers withdrawing their offers, after news was heard of the removal of an additional US import tariff on steel imports from Turkey, sources said on Monday May 20.The United States lowered its tariff on steel imports from Turkey to 25%, from the previous 50%, with effect from May 17.This essentially removed t...Read More
Seaborne iron ore pellet and concentrate prices picked up moderately in the week to Friday May 17 as the iron ore market generally strengthened.PelletsThe weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was at $129.93 per tonne cfr China last Friday May 17, up by $1.35 per tonne from a week earlier.Deals for Indian 64% Fe Rashmi pellet were heard at $121.50-123 per tonne cfr, although...Read More
Prices for slab exported from the Commonwealth of Independent States have continued to decline in the second half of May while producers have had to make concessions in new bookings with customers in Europe and Asia amid unfavorable conditions in their finished flat-steel outlets.Fastmarkets' weekly CIS export slab price assessment narrowed down to $450-455 per tonne fob Black Sea on Monday May 20...Read More