The Turkish scrap import markets remained silent at the beginning of the week because mills had failed to sell billet or rebar to customers in Southeast Asia, sources said on Monday February 18.Market sentiment was generally negative and participants were expecting prices to soften due to the sluggish demand reported by Turkish producers."There were Baltic Sea suppliers offering HMS 1&2 (80:20) at...Read More
Domestic scrap prices have increased in Turkey over the past week due to the rise in imported scrap costs, sources said on Monday February 18.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,680-1,820 ($319-345) per tonne delivered on February 18, up from TRY1,660-1,810 per tonne last week.A number of steel mills and a major scrapyard have increase...Read More
Mining companies in Brazil that operate 'upstream' tailings dams will have to completely decommission them by August 15, 2023, according to a new resolution issued by the country's mining agency ANM on Friday February 15.The document, published in the Brazilian official gazette on Monday February 18, showed that 84 dams currently operate through the upstream method, or an 'unidentified' one, and a...Read More
CIS export slab prices have increased by $15-25 per tonne fob over the past week amid limited availability of the material and the continuing price increases in the finished flat steel sectors both in the CIS and in customers' own markets.Fastmarkets' weekly price assessment of the CIS export slab price surged to $475-485 per tonne fob Black Sea on Monday February 18, against $460 per tonne fob Bl...Read More
Brazilian slab export prices soared by $40 per tonne last week on higher prices for CIS-origin material and the low availability of material in the main producing regions.Fastmarkets' weekly assessment of Brazilian export slab prices reached $460-510 per tonne fob on Friday February 15, up from $420-470 per tonne fob a week before.Offer prices for Brazilian material in the United States were heard...Read More
Import prices for steel slab in Southeast Asia and East Asia maintained their upward momentum over the past week amid scarce offers, while trading activity remained thin.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $460-470 per tonne cfr on Monday February 18, up $10-15 per tonne from a week earlier.The regional market remained consistently quiet, wi...Read More
Low grade ore prices rose strongly over the week ended Friday February 15 when some consumers accepted offer prices for March delivery that were increased over the Chinese New Year break. Low-grade ore prices rise strongly High-grade ore price increase Ferro-manganese prices in China and US increase Alloys in Europe fall Silico-manganese prices in China, US and India drop...Read More
Fastmarkets' UG2 chrome ore price strengthened in China on Friday February 15 ahead of stainless steel production restarts after Lunar New Year, while alloy prices in Europe and the United States fell. UG2 records modest gainFerro-chrome prices hold in ChinaAlloy prices tick up in Japan, South KoreaAlloy prices weaken in Europe UG2 chrome ore prices edged up in China on Friday on anticipation of...Read More
The Chinese markets for domestic and export ferro-silicon rose in the week ended Friday February 15 on renewed demand after the Lunar New Year holiday, while the European market is stable, with traders offering alloy at about ?,?20-30 per tonne below producer offer prices. Firm fundamentals a springboard for Chinese prices, with more price strength seen in the near term European price held...Read More
Mining companies in Brazil that operate 'upstream' tailings dams will have to completely decommission them by August 15, 2023, according to a new resolution issued by the country's mining agency ANM on Friday February 15.The document, published in the Brazilian official gazette on Monday February 18, showed that 84 dams currently operate through the upstream method, or an 'unidentified' one, and a...Read More
Brazilian miner Vale has pre-emptively evacuated about 200 people living close to another of its iron ore tailings dams after reviewing an independent report, the company said on Sunday February 17.The people were taken from Nova Lima, close to the Mar Azul mine in the south-eastern state of Minas Gerais. Level 2 of the country's emergency action plan for tailings dams was triggered by Vale a...Read More
Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenues for the last two months are likely to push that figure up by around another $1 billion, US government data shows.That figure would be enough to cover the shortfall in funding sought by United States President Donald Trump for border security. In other words, aluminium and steel tariffs could fun...Read More
Flat steel import prices went up in South America in the latest price assessments, with rises imposed by mills in China and the Commonwealth of Independent States (CIS) being passed through to customers.Fastmarkets assessed the import price of hot-rolled coil (HRC) in South America at $540-550 per tonne cfr on February 15, up from $525-540 per tonne the week before. The import price of cold-rolled...Read More
Export prices for flat steel from the Commonwealth of Independent States (CIS) have increased further because material availability was lower than the level of demand, source told Fastmarkets on Monday February 18.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $520-530 per tonne fob Black Sea on February 18, up by $20 per tonne week on week.Russia-origin H...Read More
Copper's three-month price on the London Metal Exchange ended higher on Monday February 18 thanks to the downtrend in stocks and the potential for a thawing of US-Chinese trade relations.According to LME data, there are now two dominant warrant holding positions across 50-79% of LME stock and tom/next positions respectively."We are constructive on our outlook for copper prices in the next three mo...Read More
Low grade ore prices rose strongly over the week ended Friday February 15 when some consumers accepted offer prices for March delivery that were increased over the Chinese New Year break. Low-grade ore prices rise strongly High-grade ore price increase Ferro-manganese prices in China and US increase Alloys in Europe fall Silico-manganese prices in China, US and India drop...Read More
Detailed data for Chinese trade is still not available, but there are indications that the East Asian country may have become the biggest importer of pig iron in Asia last year, according to Fastmarkets' research team.We pointed out in June last year that the Chinese import pig iron market might revive to fill the widening gap between iron and steel production in China, alongside ferrous scrap.Hon...Read More
The process to exclude steel and aluminium from the Section 232 import tariffs applied by the United States is having some interesting consequences.Notably, in the event of a national security issue - which Section 232 was designed to address - the United States would theoretically rely on Japan for its steel and Saudi Arabia for its aluminium.Those countries have been granted the highest volume o...Read More
Copper's three-month price on the London Metal Exchange ended higher on Monday February 18 thanks to the downtrend in stocks and the potential for a thawing of US-Chinese trade relations.According to LME data, there are now two dominant warrant holding positions across 50-79% of LME stock and tom/next positions respectively."We are constructive on our outlook for copper prices in the next three mo...Read More
Copper concentrate treatment charges fell further in mid-February on expectations of tighter supply later this year, which could be reversed now that an Indian court's ruling to restart Sterlite Copper's 400,000 tonnes per year smelter has been overturned.Fastmarkets's copper concentrates treatment charges and refining charges (TCs/RCs) index declined to $74.20 per tonne/ 7.42 cents per lb for the...Read More